Routes may be flexibly adjusted when necessary to ensure the highest level of safety for passengers and crew.

National flag carrier Vietnam Airlines has announced that its flights to and from Europe are operating as scheduled, with close monitoring and coordination with relevant authorities amid complex developments in the Middle East.

The airline currently operates 12 direct routes from Hanoi and Ho Chi Minh City to major European destinations, including Paris, Frankfurt, Munich, London, Moscow, Milan, Copenhagen and Amsterdam. These services are operated using Airbus A350 and Boeing 787 aircraft, according to a report by the Vietnam News Agency.

The carrier affirmed that its flight network remains stable, while routes may be flexibly adjusted when necessary to ensure the highest level of safety for passengers and crew.

Vietnam Airlines said it has prepared flexible operational plans to maintain safe, stable and efficient flight operations.

The airline noted that any route adjustments could result in longer flight times and have knock-on effects across its wider network. However, it emphasized that such measures are essential, reaffirming that safety remains the top priority in all operational decisions.

Vietnam News Agency-Van Nguyen

Vietnam targetting economic growth of 10% in 2026.

Prime Minister Pham Minh Chinh has instructed ministries, agencies and localities to assess the current situation and develop response scenarios to recent global developments, aiming to achieve the targeted GDP growth rate of 10% this year.

He made the request at a March 4 meeting of the Government’s standing members with ministries and relevant agencies to review socio-economic performance in the first two months of 2026.

The meeting took place amid rapidly evolving global developments in February, including new US tariff policies and escalating military tensions in the Middle East. These factors have disrupted maritime and air transport, affected global supply chains, and caused fluctuations in oil and liquefied natural gas (LNG) prices.

The Prime Minister called on participants to focus discussions on evaluating socio-economic performance in January and February, identifying priority orientations for the coming period, assessing policy responses to global developments, and proposing appropriate governance scenarios to ensure proactive and effective management.

He also urged the formulation of key tasks and solutions for March, the first quarter and the longer term, including breakthrough measures to secure double-digit growth and accelerate public investment disbursement.

According to the Government’s assessment, Vietnam’s socio-economic situation in February and the first two months of the year maintained a positive trajectory, with most sectors recording better results than in the same period last year.

Macroeconomic stability was maintained, inflation remained under control, and major economic balances were ensured. The average Consumer Price Index (CPI) in the first two months rose 3% year-on-year. The monetary market and exchange rates were broadly stable, while public debt, Government debt and national external debt stayed well below statutory ceilings.

Foreign direct investment (FDI) inflows showed strong growth. Newly registered FDI reached more than $3.5 billion, up 61.5% from a year earlier, while disbursed FDI totaled $3.2 billion, marking an 8.8% increase year-on-year.

VnEconomy-Hà Lê

Former Ambassador of Australia to Vietnam, H.E. Andrew Goledzinowski, shares his thoughts with Vietnam Economic Times / VnEconomy’s Linh Tong on Vietnam’s growing international profile.

As Vietnam enters 2026, from a foreign observer’s perspective, how would you view the country’s current stage of development?

I think Vietnam is probably the most interesting country in Asia right now, and possibly one of the most interesting in the world. It is attracting a great deal of positive attention, certainly from Australia, but also more broadly. People are looking at Vietnam through different eyes than they were even a few years ago, because the country is going through rapid change and, unlike almost everywhere else, its story is a positive one.

When we look around the world, we see negative disruption - war, injustice, and economic difficulty. Vietnam, by contrast, stands out as a positive story, and I think there is a real appetite globally for that at the moment.

The past year has been remarkable. Vietnam’s economic growth reached some 8.02 per cent, with the final quarter coming in at 8.46 per cent. FDI rose by roughly 9 per cent, and manufacturing by about 10 per cent. Even though US tariffs hit Vietnam harder than almost any other country, manufacturing investment continued to grow, and Vietnam’s trade surplus with US also expanded. That is quite extraordinary.

Reform is another key part of the story. What we are seeing now is, in many ways, a reboot of “Doi Moi” (Economic Renewal). I believe the 14th National Party Congress will be the most important in at least half a century. I do not expect Vietnam’s political system to change fundamentally in the foreseeable future, but I do think the country will continue to align itself more closely with international norms. That would be politically significant, but not radical, and I do not think it would surprise or concern overseas partners.

What is genuinely radical and interesting are the policy resolutions adopted last year. These include strengthening the role of the private sector relative to the State sector, reinforcing the importance of FDI, and positioning Vietnam as a safe haven for financial institutions, with initiatives such as the Ho Chi Minh City and Da Nang financial centers. Even decisions like prioritizing English-language education at the primary school level send strong signals. All of these measures help set Vietnam up for long-term success.

I am optimistic, but execution will be the real challenge. Making these policy pronouncements is already a significant commitment by the leadership, but delivering on them is much harder. There will always be vested interests, bureaucratic inertia, and political headwinds. As Vietnam’s leadership has correctly identified, the country does not have the luxury of moving slowly. It either moves forward quickly or risks falling behind. The world will not wait.

Demographics underline this urgency. Vietnam needs to become wealthy before it becomes old. Birth rates are declining rapidly, similar to what we have seen in South Korea, and technology, competitors, and partners are not going to slow down. Moving fast inevitably means taking risks and sometimes breaking things, but that is a choice Vietnam has to make.

So the challenge now is translating policy commitments on paper into real-world implementation?

Exactly. Translating policy from paper into practice is the hard part. And one major challenge that still has not been fully addressed is trust.

In an international investment context, trust comes from a predictable and transparent legal system, and a predictable and transparent bureaucracy. The legal system, in particular, is critical. When investors are committing hundreds of millions or even billions of dollars, they expect disputes to arise. That is normal. What matters is confidence that the law will be upheld, that courts will be fair, and that cases will be handled without corruption. If one party can influence the outcome by bribing a judge, confidence in the entire system collapses.

This remains a work in progress in Vietnam. That said, there are encouraging signs. Moves to introduce foreign judges in International Financial Centers would be a major step forward and potentially a game changer. If that principle could then be extended more broadly - not necessarily through foreign judges, but through a judiciary that is fully trusted to apply the law impartially - it would significantly reduce investor concerns.

When I speak with potential investors, including two large Australian companies I am currently advising, this issue always comes up. They tell me they understand the legal systems in Singapore and Malaysia. Vietnam’s system, they say, they do not yet fully understand. There is a perception that judges can sometimes be influenced by one side or the other.

For me, this is an important priority that I hope the government continues to address. I am comfortable saying this publicly, because when foreign investors assess Vietnam, legal predictability and trust in the system are among the key factors they take into account.

How do you assess Vietnam’s diplomatic positioning in 2025, particularly its ability to maintain an independent and balanced foreign policy amid an increasingly complex global environment?

It is a tricky time for everybody, but I am an admirer of Vietnam’s foreign policy. I think it has managed the balance extremely well.

When I first became Ambassador to Vietnam, the country had only three comprehensive strategic partners: Russia, China, and India - its traditional partners. Since then, it has added eleven more. That expansion is not accidental. It is very deliberate. Vietnam is sending a clear signal that it is not abandoning its traditional partners while actively engaging new ones. This matters because Vietnam understands that if it wants to build a world-class, high-tech economy, it needs to work closely with these newer partners. That kind of economic transformation will not come from Russia or India alone.

Vietnam is also practicing very active diplomacy. Rather than waiting for other countries to come to it, Vietnam is going out into the world. The frequency of overseas visits by the top leadership is a signal of that approach. It is a form of strategic hedging - Vietnam is not putting all its eggs in one basket, but spreading them carefully. I think that is very smart.

Another important trend is Vietnam’s growing leadership role in the region. Within ASEAN, leadership has often shifted between countries such as Indonesia, Singapore, and Malaysia. Vietnam is now clearly joining that group. As its economy grows and its confidence increases, it is natural and positive for Vietnam to play a larger role in setting agendas, leading discussions, and potentially helping to broker regional disagreements.

Another area to watch is Vietnam’s growing engagement at the multilateral level. I sense that it increasingly wants to play a role in shaping global norms, whether in peacekeeping, treaty-making, or setting the broader “rules of the road.” These were areas traditionally dominated by Western countries, but middle powers like Australia and Vietnam now have greater scope to contribute constructively.

I cannot yet prove this, but there are signs in Vietnam’s language and diplomatic messaging that point in this direction, including greater emphasis on multilateral diplomacy, multipolarity, and global rule-setting. These are areas where I expect Vietnam’s contribution to be positive.

Vietnam is also one of the world’s most exposed countries in terms of foreign trade, land borders, and maritime boundaries. It cannot afford to be aloof. It has a great deal at stake, and that reality underpins the careful, active, and balanced foreign policy we are seeing today.

Looking at Vietnam’s economy in 2025, what do you see as the most important drivers of growth, and where do the main structural challenges still lie?

The main driver of growth at the moment is the government, particularly its push to create a more enabling environment for business. That effort is real and significant, but it is not finished. There is still a lot more to do.

The government’s role remains crucial, but structural reform is essential. Around 50 per cent of Vietnam’s economy is still controlled by the State or State-owned enterprises (SOEs). In Australia, that figure is closer to 15 per cent. That gap matters. If Vietnam is to move from its current position to becoming an upper-middle-income economy by 2030, and a high-income developed economy by 2045, the share of the economy controlled by the State will need to fall.

This is not easy. Some SOEs are very large and powerful, and some sectors are politically sensitive. Mining is a good example. Vietnam has traditionally kept mining within the State sector, but SOEs rarely perform well in mining anywhere in the world. Modern mining is highly technological, capital-intensive, and sophisticated. It is not dirty or old-fashioned. It is driven by computers and robotics.

This matters because Vietnam holds the world’s second-largest reserves of rare earths. If it wants to play a serious role in critical minerals, it will need to open up these sectors, including mining and high-end processing, to more private and foreign participation. That can be done without compromising sovereignty or national interests. The government can still set the rules, while allowing others to do the work.

The same logic applies to financial services. Vietnam is moving towards bringing in more foreign banks and higher-end services such as brokerage and insurance. These institutions help create the conditions that attract broader FDI.

Technology is another major area. Vietnam is well positioned to participate in sectors such as AI, quantum computing, and semiconductors, but success again depends on trust. I recently read an insightful article about why China cannot compete with Taiwan (China) in high-end semiconductors. The key reason was trust. In the one factory, Taiwanese firms produce advanced chips for Nokia, Samsung, and Apple, which are all direct competitors, because all of them trust Taiwan (China) to protect their intellectual property. Vietnam needs to become the country that everyone trusts.

Education is another critical constraint. The biggest limiting factor across all these sectors will be the availability of well-trained people. The government understands this, and education will ultimately determine how fast Vietnam can move. I would like to see Australia do even more with Vietnam in this area.

Agricultural technology is also important and often overlooked. Around 30 per cent of Vietnam’s population is still involved in agriculture. As people move into manufacturing and technology, agriculture will need to become more productive with fewer workers. Australia’s experience with large-scale, technology-driven farming is not directly transferable to Vietnam, but there is valuable cooperation under way.

Australian agencies such as the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Australian Centre for International Agricultural Research (ACIAR) are working with Vietnamese universities on remote sensing, satellite-based monitoring of water and soil conditions, and developing more resilient crop varieties, including salt-tolerant rice. These efforts will be increasingly important as climate conditions change.

Finally, infrastructure remains critical. Vietnam can still build major infrastructure relatively cost-effectively, something that is now very difficult in countries like Australia. That window will not stay open forever. Costs will rise as incomes increase and the population ages. Now is the time to move.

How would you describe the status of Vietnam-Australia relations today compared with when you served as Ambassador, and where do you see the greatest opportunities for the partnership going forward?

I think the relationship is excellent. Both countries have clearly identified each other as key partners.

From Australia’s perspective, when we look north, Vietnam stands out as one of the fastest-growing economies. Australia is home to hundreds of thousands of Vietnamese-speaking citizens, so we understand Vietnam well. Vietnam is also one of Australia’s most popular travel destinations. There is genuine warmth and affection in the relationship.

That said, I still think Australia should have visa-free access to Vietnam. It is strange that Australians can travel visa-free to almost every country in the region but still need a visa for Vietnam. Even so, Australia is now among the top inbound tourism markets for Vietnam, which is very positive.

From Vietnam’s perspective, Australia is a familiar and trusted partner. There is a steady flow of Vietnamese Government delegations to Australia, and strong two-way movement of students. Vietnam also understands Australia as a non-threatening partner. We are not a competitor, and we are not a security risk, but we do have capabilities and experience to share.

There is also a great deal of historical goodwill. Australia was one of the earliest countries to engage with Vietnam, even during periods when Vietnam was under embargo. Diplomatic relations began in 1973, before Vietnam’s reunification. Australia helped build the first bridges over the Mekong River, established the first foreign bank and university, connected the northern and southern electricity grids through the first 500 kV transmission lines, and built Vietnam’s first undersea cable and satellite links. The first satellite phone call from Vietnam to anywhere in the world was to Canberra. Australia also began offering scholarships to Vietnamese students as early as 1973.

At one stage, Australia played a particularly important role, but then other countries discovered Vietnam. Japan and South Korea came in strongly as Vietnam developed large-scale, low-cost manufacturing. That was a smart and necessary phase of Vietnam’s development, even if it was not where Australia was most competitive.

Looking ahead to the next stage, Australia can once again become highly relevant. We bring strengths in high-end technology, strong universities, financial technology, agricultural technology, pharmaceuticals, and specialized services. Australia does not need to operate at the scale of the United States or Europe. A small number of high-quality companies can still make a meaningful difference.

For that reason, I am very optimistic. I believe the Vietnam-Australia relationship will continue to deepen and become more complex and more substantive over time.

Vneconomy-Linh Tong

The European Commission (EC) inspection team is scheduled to visit Vietnam from March 9-19.

Prime Minister Pham Minh Chinh chaired the 32nd meeting of the National Steering Committee on combating illegal, unreported, and unregulated (IUU) fishing on March 3.

This crucial meeting took place just before the European Commission (EC) inspection team's visit to Vietnam,  which is scheduled from March 9-19, as the fifth inspection in nine years.

The meeting was attended by Deputy Prime Minister Tran Hong Ha, Head of the Steering Committee; Minister of Agriculture and Environment Tran Duc Thang, along with leaders of various ministries and sectors. The meeting was connected online from the Government Headquarters to coastal provinces and cities.

In his opening remarks, the Prime Minister emphasized: "Do not let the mistake of an individual or a group affect the collective effort of the entire country." The goal is to prepare thoroughly, report comprehensively, achieve substantial results, and convincingly explain to the EC; there is no room for complacency, negligence, or irresponsibility, he noted.

According to the report at the meeting, recent efforts to combat IUU fishing to lift the EC's "yellow card" warning and sustainably develop the fisheries sector have seen many positive changes. Tasks directed by the Party Secretariat, the Government, and the Prime Minister's Directive No. 18/CĐ-TTg have been implemented decisively and synchronously.

Minister of Agriculture and Environment Tran Duc Thang stated that the Ministry has issued inspection plans, established working groups in localities, and initially identified and rectified some "closed without penalty" cases that did not meet legal grounds, requiring review and proper handling.

Regarding fleet management, over 80,000 fishing vessels have been registered and updated on the VNFishbase system. Vessels with "three no's" (no registration, no inspection, no license) that do not meet operational conditions are controlled, with local forces managing their docking positions strictly.

By March 1, 2026, all 17 coastal localities required businesses to self-declare, review processing, and export activities, and established inter-agency teams to inspect traceability management. Notably, no additional fishing vessels violated foreign waters during recent time.

In conclusion, Prime Minister Pham Minh Chinh praised the efforts of ministries, sectors, and localities, especially the Ministry of Agriculture and Environment, the Ministry of Defense, the Ministry of Public Security, the Ministry of Foreign Affairs, and the Ministry of Science and Technology.

The Prime Minister outlined a dual goal: to develop the fisheries sector sustainably in a long term, while to be detemined to have the  "yellow card" lifted by the EC. This involves gradually reducing offshore fishing intensity, which carries many risks, increasing aquaculture, deep processing, creating jobs, livelihoods, and improving people's lives, while fully meeting international requirements for responsible fisheries management.

The Prime Minister called for the entire political system to act with seriousness, substance, and continuity. All content related to sustainable fisheries development must be reported specifically, with clear solutions, addresses, and specific responsible individuals, the Prime Minister added.

Despite the achievements, the Prime Minister pointed out some existing issues that need immediate rectification: the application of technology and data management in fishing activities is not yet interconnected and synchronized; handling according to the EC's five recommendations needs further improvement, and the progress of occupational transition in some localities is still slow.

The emphasized principle is to resolve each issue thoroughly, ensuring data criteria are "accurate, sufficient, clean, live, consistent, and shared."

For specific tasks, the Prime Minister requested ministries, sectors, and localities to continue implementing the Government's directives decisively, especially Directive No. 18/CĐ-TTg of the Prime Minister.

The Ministry of Agriculture and Environment is tasked with preparing a comprehensive report on sustainable fisheries development, focusing on the roadmap to reduce fishing intensity, fleet management, production control, technology application, and improving fishermen's livelihoods. 

The Ministries of Agriculture and Environment, Foreign Affairs, Defense, Public Security, and Science and Technology must closely coordinate, unify data, avoid information conflicts, and assign specialized staff to participate directly in the work, ready to explain the contents of interest to the EC delegation, the Government leader requested.

The Ministry of Defense directs the Border Guard to strictly control fishing vessels entering and leaving ports; increase patrols in adjacent sea areas. The Ministry of Public Security accelerates the investigation and handling of serious violations; coordinates to clarify responsibilities in localities with high "closed case" rates.

Coastal provincial and city People's Committees must report specific results of occupational transition, reduce the number of fishing vessels, create livelihoods for people; commit not to let new violations arise; prepare complete traceability dossiers and working content when the EC delegation conducts field inspections. Localities that have not issued occupational transition policies must complete them  soon.

Vietnam Posts and Telecommunications Group (VNPT) and Viettel Military Industry and Telecoms Group are required to review and ensure the data system meets management requirements.

The Vietnam Association of Seafood Exporters and Producers must resolutely prevent enterprises from importing IUU-violating shipments; simultaneously build a fund to support occupational transition for people.

Media agencies should strengthen communication, guiding fishermen to exploit according to Vietnamese and international legal regulations.

The Prime Minister assigned Deputy Prime Minister Tran Hong Ha to directly monitor, inspect, and direct the handling of arising issues, promptly report contents beyond authority.

With the spirit of "high determination, great effort, decisive action," the Prime Minister requires the entire political system to prepare the best for the EC's inspection next week; not allowing any mistakes to affect the collective effort to have the "yellow card" lifted and building a sustainable, responsible, and deeply integrated Vietnamese fisheries sector.

Vneconomy-Chu Khoi

The plant, invested in by Vinfast, has a designed capacity of up to two million vehicles per year.

The Economic Zones Management Board of central Ha Tinh province on February 28 approved an electric vehicle (EV) manufacturing project in the Vung Ang Economic Zone, with a total registered investment of more than VND13.25 trillion (around $506 million).

Covering 64 hectares, the plant will be developed by VinFast and will specialise in the production of electric scooters and electric bicycles, with a designed capacity of up to two million vehicles per year.

The project also includes the construction of workshops and auxiliary facilities to support EV manufacturing.

The development will be implemented in two phases. The first phase, slated for completion in 2026, will have an annual capacity of one million vehicles. The second phase, expected to begin in late 2026, will double total output to two million units per year.

VinFast plans to complete investment procedures and commence construction in the first quarter of 2026, with mass production targeted for the second quarter of the same year.

VnEconomy-Nguyễn Thuấn

Increasingly complex political and security developments, particularly in the Middle East, are affecting global energy markets and influencing fuel supply and prices.

The Ministry of Industry and Trade has asked local authorities to strengthen inspections and supervision of petroleum trading amid escalating tensions in the Middle East that are putting pressure on global energy supplies.

In an official document issued on March 3, the ministry’s Agency for Domestic Market Surveillance and Development said increasingly complex political and security developments, particularly in the Middle East, are affecting global energy markets and influencing fuel supply and prices.

To proactively mitigate risks and safeguard consumers’ rights, localities were instructed to direct market surveillance forces to closely monitor developments in their areas, track supply-demand fluctuations and retail prices, and promptly detect irregularities such as shortages, unjustified price hikes, supply disruptions or unreasonable sales suspensions.

Inspection efforts should focus on petroleum wholesalers and retail outlets. Strict penalties will be imposed for violations including hoarding, selling above listed prices, arbitrary price increases, trading in smuggled fuel or products of unclear origin, and distributing substandard fuel.

The agency also called for enhanced communication and guidance to help traders comply with regulations, while stressing that heads of market management units will be held accountable if violations occur in their jurisdictions without timely detection and response.

VnEconomy-Song Hà

The Eurasian Economic Commission (EAEU) comprises five member states: Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan.

Chairman of the Board of the Eurasian Economic Commission (EAEU) Bakytzhan Sagintayev has pledged to strengthen cooperation between Vietnam and the EAEU, including promoting the establishment of direct air links between Vietnam and all EAEU member states.

The commitment was made during a meeting with Prime Minister Pham Minh Chinh in Hanoi on March 2.

The EAEU comprises five member states: Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. Sagintayev, a Kazakh national, currently serves as Chairman of the Board under the bloc’s rotating leadership mechanism.

Prime Minister Chinh underscored the need to further advance relations through concrete agreements and cooperation projects, and to make full use of the free trade agreement (FTA) by expanding market access and encouraging greater trade and investment flows.

He called for the effective implementation of bilateral cooperation mechanisms to promptly address technical barriers, and urged EAEU member states to consider lifting safeguard measures and increasing quotas on certain Vietnamese exports, particularly agricultural products, seafood and electronics.

After a decade of implementing the FTA between Vietnam and the EAEU, bilateral trade has recorded strong growth. Import-export turnover rose by nearly 30% annually during the 2017–2018 period, peaking at over $6.3 billion in 2021 and reaching nearly $6 billion in 2025, up 5% year on year.

VnEconomy-Minh Hiếu

Gold prices in Vietnam reaching a historic high of nearly VND191 million ($7,290) per tael on March 2.

Gold prices in Vietnam fell sharply on March 3, dropping by VND1.5 million (US$57.2) per tael for both buying and selling after reaching a record high of nearly VND191 million ($7,290) per tael a day earlier.

One tael equals 37.5 grams, or 1.2 ounces.

Prices of SJC-branded gold bars were listed at VND186.4 million ($7,114) per tael for buying and VND189.4 million ($7,229) per tael for selling.

Gold ring prices followed a similar downward trend, declining by between VND300,000 ($11.45) and VND1.5 million ($57.2) per tael, depending on the retailer.

Meanwhile, global gold prices continued to edge higher, rising 0.9% from the previous session to $5,370.4 per ounce. At this level, domestic gold prices remain about VND17.39 million ($663) per tael higher than international prices.

VnEconomy-Mai Nhi

Given that the Middle East offers relatively healthy profit margins for pangasius and certain value-added product lines, the sharp rise in logistics costs could fundamentally alter the profit structure of the entire supply chain.

The Middle East has emerged as a significant growth market for Vietnamese seafood. In 2025, seafood exports to this region reached $401 million, a 9.6% increase compared to 2024, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

However, escalating military tensions between the US, Israel, and Iran in recent days have rapidly transformed into a major "shock" for maritime transport and insurance in the Middle East—a region that plays a pivotal role in the global flow of energy and goods.

VASEP warns that for the seafood industry, the impact extends beyond skyrocketing shipping costs. There are also mounting risks of cold chain disruptions, localized supply shortages, and price volatility across various product segments. The primary risk is currently centered on the Strait of Hormuz, a strategic maritime gateway connecting the Persian Gulf with the Indian Ocean.

As security warnings intensify, several international shipping lines have adjusted their operations. Vessels have been instructed to find safe anchorages, while some routes through Hormuz have been suspended. Furthermore, many carriers are rerouting journeys around the Cape of Good Hope instead of using the Red Sea–Bab el-Mandeb–Suez Canal corridor.

In just a few days, freight rates on the Asia-Dubai route have nearly doubled. Emergency surcharges for routes to and from Gulf countries have been announced at levels between $1,500 and $4,000 per container, with refrigerated (reefer) containers facing even higher fees. For seafood enterprises, these direct costs are driving up product prices and narrowing profit margins.

Parallel to the transport crisis, the maritime insurance market is also reacting sharply. Several Protection and Indemnity (PI) clubs and war risk insurers have issued notices to cancel or restrict coverage for vessels operating in Iran and the Persian Gulf region, with such notices becoming effective just 72 hours after issuance.

Seafood cold chain: vulnerable link

According to Deputy General Secretary of VASEP, Le Hang, seafood is a product category that requires strict temperature control and precise delivery timelines. The Middle East is a major consumer of salmon, shrimp, tuna, and various high-value products imported from Asia, Europe, and the Americas.

With restricted airspace and disrupted flight schedules, the supply of fresh seafood—which relies heavily on air freight—is at risk of shortages within just a few days. Consequently, importers are forced to shift to frozen products. However, this channel also faces significant challenges as bookings for refrigerated (reefer) containers are being restricted or temporarily suspended.

"For Vietnamese enterprises, particularly exporters of pangasius and shrimp, extending the transit journey by an additional one to two weeks means higher electricity costs to maintain temperatures, increased container storage fees, and the heightened risk of quality-related disputes," Ms. Hang said.

Given that the Middle East offers relatively healthy profit margins for pangasius and certain value-added product lines, the sharp rise in logistics costs could fundamentally alter the profit structure of the entire supply chain.

In the short term, if tensions de-escalate and security conditions improve, shipping lines may gradually restore routes through the Strait of Hormuz, reopen reefer container bookings, and phase out war risk surcharges. Under this scenario, the seafood supply chain could recover relatively quickly, particularly for frozen goods.

Conversely, if risks persist, rerouting will become the "new normal." Insurance premiums would remain high, war risk surcharges would stay in place, and the capacity for reefer containers into the Gulf region would be limited. In this case, seafood import costs into the Middle East could remain elevated for months, causing price volatility to spill over into related global markets.

In the current context, VASEP advises Vietnamese seafood enterprises to diversify transportation routes and avoid relying entirely on a single maritime corridor; increase cold storage reserves in regional facilities, especially at major transshipment centers; and prioritize long‑term shipping contracts to reduce dependence on the spot market.

Enterprises should closely monitor developments in marine insurance and the policies of shipping companies in order to proactively negotiate.

Vneconomy-Chu Khôi

Vietnam’s fertilizer industry is accelerating its green transition, balancing environmental demands with productivity, competitiveness, and long-term sustainability.

According to data from the Department of Crop Production and Plant Protection at the Ministry of Agriculture and Environment (MAE), Vietnam had nearly 800 fertilizer production facilities nationwide as of the end of June 2025, with a combined annual capacity of more than 20 million tons. Of these, 261 facilities produce inorganic fertilizers, 161 produce organic fertilizers, and 308 produce both inorganic and organic products. The total organic fertilizer output capacity is estimated at around 4.7 million tons annually.

Green transformation in the fertilizer industry is not only about meeting increasingly stringent environmental standards but also a fundamental solution to improving efficiency in agricultural production and enhancing the competitiveness of Vietnam’s agricultural products.

Inevitable equation

Domestic facilities are now able to produce most key fertilizer types, including phosphate fertilizer, urea, and NPK, fully meeting domestic demand. DAP plants cover around 60 per cent of demand, while potassium and SA fertilizers remain entirely dependent on imports. For organic fertilizers, domestic producers are able to meet both local demand and export requirements, without reliance on imported raw materials.

Many enterprises have actively invested in research and successfully applied science and technology to develop organic and bio-fertilizers for production. Notably, a number of products have demonstrated the ability to cut greenhouse gas emissions by 10-20 per cent, or even more.

According to Mr. Nguyen Tri Ngoc, Standing Vice Chairman of the Fertilizer Association of Vietnam, fertilizers are an indispensable input for agricultural production, contributing roughly 40-60 per cent of crop productivity. This critical role also makes the fertilizer sector a sensitive “link” in terms of environmental impact and the agricultural ecosystem. Improper fertilizer use, whether excessive or insufficient, can lead to soil degradation, water pollution, greenhouse gas emissions, and direct impacts on human health.

Against this backdrop, greening the fertilizer industry has become an inexorable trend amid growing demand for emission reductions, energy efficiency, and the application of clean technologies. Mr. Ngoc noted that this process goes beyond cutting emissions or meeting environmental standards; it is closely tied to improving agricultural efficiency, ensuring food security, and enhancing the value of Vietnam’s agricultural products. Expanding the use of organic and bio-fertilizers, applying clean technologies, and using resources more efficiently are seen as key pillars of this transition.

Conversely, the green transition also presents clear opportunities for businesses to strengthen competitiveness, access sustainable agriculture markets, and meet the increasingly strict requirements of international partners.

“We already have initiatives related to greening agriculture and using fertilizers to drive that process,” he said. “One example is the 1-million-ha high-quality rice project, aimed at reducing greenhouse gas emissions. This is a positive model for agricultural greening, with fertilizers playing a direct role in that transformation.” He stressed that greening the fertilizer industry is an inexorable trend, and to integrate and participate in green agriculture the fertilizer industry must move one step ahead to catalyze broader agricultural greening.

Some enterprises have already taken the lead, proactively upgrading technology and conducting in-house research to develop green products for production. Mr. Phan Van Tam, Deputy General Director of Binh Dien Fertilizer, said greening has been identified as a core development strategy, implemented across the entire value chain from production to fertilizer use. The company has focused on adopting environmentally-friendly technologies to reduce greenhouse gas emissions while improving input efficiency in cultivation.

The company has participated in several programs led by the MAE in recent years, most notably the Soil Health Program and the project on sustainable development of 1 million ha of high-quality, low-emission rice linked to green growth in the Mekong Delta to 2030. Through its involvement, Binh Dien has found that sensible fertilizer use, in line with proper technical processes, can significantly reduce emissions, not only during fertilizer production but also in on-field application.

Clear roadmap and coordinated policies

However, the path towards greening the fertilizer industry remains beset by barriers. Mr. Ngoc pointed out that current efforts face major challenges, particularly high investment costs and a lack of coordinated legal frameworks. Not all enterprises have sufficient resources to invest in new technologies in a short period, especially small and medium-sized enterprises with limited financial capacity. Access to “green credit” remains difficult due to complex lending procedures and the absence of a clear legal framework.

From a practical perspective, Mr. Hoang Quang Phong, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), noted that the greening of the fertilizer industry is constrained by multiple issues, including the lack of a concrete legal framework for green production, non-uniform technological processes, high transition costs, fragmented standards systems, uneven awareness about green production, and the persistence of counterfeit and imitation products that undermine market trust.

To promote an effective green transition, Mr. Ngoc emphasized the State’s role in refining policies, establishing appropriate incentive mechanisms, and strengthening dialogue and cooperation between regulators, associations, and businesses. Investment in RD, along with workforce training, is also considered crucial for enabling enterprises to master technology and implement greening in a sustainable manner.

He called for revisions and improvements to laws such as the Law on Standards and Technical Regulations, the Law on Product and Goods Quality, and the Law on Crop Production, to better align with integration realities. He also advocated for a shift in quality management from pre-inspection to post-inspection to reduce unnecessary barriers for businesses. Technological innovation, he added, must be accompanied by systematic human resource training to ensure both quality and greening objectives are met.

From the perspective of manufacturers, Mr. Phung Ngoc Bo, Head of the Technical Committee at the Vietnam National Chemical Group (Vinachem), emphasized that green transformation is not only a response to climate change but also a key driver of production efficiency, value creation, and competitiveness for chemical products amid deeper integration. Nevertheless, the sector continues to face major hurdles, including large capital requirements, outdated technologies that are difficult to integrate with new solutions, and pricing pressure as green products often carry higher costs.

As a result, tailored support mechanisms and policies are needed for foundational industries such as fertilizers and chemicals during the green transition. These include building a stable and transparent legal framework for circular and low-carbon production; providing financial support and green credit to facilitate access to preferential domestic and international funding; and supporting technological innovation, research, technology transfer, localization, and mastery of clean, low-carbon technologies for waste recovery, recycling, and treatment suited to Vietnam’s production conditions. Policies should also encourage domestic and foreign investors to participate in capital contributions and partnerships for green fertilizer production projects, circular plants, and high-tech industrial parks.

According to Mr. Ha Van Thang, Chairman of the Vietnam Council of Agricultural Enterprises (VCAC), organic bio-fertilizers are not merely agricultural products but integrated solutions encompassing technology, management, and environmental protection. The development and effective use of organic bio-fertilizers can help reduce greenhouse gas emissions, protect soil resources, enhance the value of agricultural products, and advance towards green, circular, low-emission agriculture. He therefore called for stronger research efforts, technology transfer, and the completion of policy mechanisms to support the fertilizer sector’s transition towards green and sustainable development.

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Beyond security concerns, the VMIWA advised businesses to evaluate the economic impact of the conflict, specifically regarding fluctuations in oil prices, freight rates, and shipping surcharges.

The Vietnam Maritime and Waterway Administration (VMIWA) has issued an official dispatch, requesting Vietnamese shipowners, crew manning agencies, and shipping enterprises to closely monitor the military conflict in the Middle East to proactively prevent and respond to emerging risks.

Under the directive, businesses are required to stay updated on safety warnings and information from international maritime authorities, the International Maritime Organization (IMO), and other official sources. Companies must actively assess risks and adjust operational plans, including utilizing alternative shipping routes when necessary, to ensure the absolute safety of vessels and their crews.

Shipowners and maritime transport companies have been instructed to implement the highest level of security measures in accordance with their established Ship Security Plans. This includes maintaining seamless communication, reporting vessel positions punctually, and ensuring that Automatic Identification Systems (AIS) are functioning accurately to avoid the risk of misidentification by regional military forces.

Enterprises must also conduct a comprehensive review of all vessels and crew members currently operating in conflict-affected zones. The VMIWA emphasized the importance of maintaining contact with Vietnamese diplomatic missions in the Gulf region and the VMIWA’s own hotlines for immediate guidance and support.

Beyond security concerns, the VMIWA advised businesses to evaluate the economic impact of the conflict, specifically regarding fluctuations in oil prices, freight rates, and shipping surcharges. Agencies are encouraged to develop contingency and adaptation scenarios to mitigate international trade risks and ensure that supply chains remain uninterrupted.

For vessels currently stationed or operating within the Middle East, shipowners are required to enhance watchkeeping, maintain a high state of alertness, and prepare emergency response plans for immediate deployment. Furthermore, they are instructed to avoid areas with active military operations or proactively divert to the territorial waters of neutral countries when necessary.

Specifically, when transiting the Strait of Hormuz, vessels are advised to apply maximum security measures and limit crew activities on open decks. Companies must also take steps to stabilize crew morale and coordinate with relevant authorities to facilitate safe repatriation should the need arise.

Vneconomy-Đan Tiên

The establishment of the fund is part of an action plan to implement the Law on Artificial Intelligence (AI).

The Ministry of Science and Technology will establish a national Artificial Intelligence (AI) Development Fund for the 2026–2027 period, following a Prime Ministerial decision recently signed by Deputy Prime Minister Nguyen Chi Dung  on  approving a plan to implement the Law on AI.

Under the decision, a National AI Database will be developed and housed at the National Data Center.

The Ministry of Science and Technology will oversee AI data standards, technical regulations, algorithm models and related matters. Meanwhile, the Ministry of Public Security will be responsible for building infrastructure for the National Data Center, as well as ensuring data security, safety and the integration of source data.

AI-related databases managed by ministries, ministerial-level and government-affiliated agencies, and People’s Committees at all levels will be developed, updated and uniformly connected to the National AI Database. These databases must comply with the National Data Center’s standards and technical regulations to ensure data quality and information security.

In addition, AI clusters will be developed under a model that combines centralized physical spaces with digital network linkages. Cluster hubs will be established at high-tech parks, concentrated digital technology zones and innovation centers, while organizations and individuals will be encouraged to invest in technical infrastructure supporting cluster activities.

VnEconomy-Ngô Huyền

Railway projects are required to follow the principle of digitalisation, green transition, efficiency optimisation, and smart governance.

Prime Minister Pham Minh Chinh required relevant ministries, agencies and localities to speed up major railway projects while chairing the seventh meeting of the Steering Committee for key national railway projects in Hanoi on March 3.

The PM urged a thorough review of tasks assigned at the previous meeting, focusing on progress updates, existing bottlenecks and key lessons learned.

He requested focused efforts to accelerate major projects, including segments 1 and 2 of the Lao Cai–Hanoi–Hai Phong railway line, rail connectivity and cross-border railway links with China, feasibility study for the North–South high-speed railway, urban railway lines in Hanoi and Ho Chi Minh City, construction of the Gia Binh–Ha Long and Lang Son–Hanoi lines, and a railway industrial complex.

The PM directed that railway projects must follow the principle of digitalistion, green transition, efficiency optimisation, smart governance, and balanced interests among the State, citizens and businesses.

Vneconomy -Minh Kiệt

The total number of Vietnamese guest workers currently living and working across the Middle East is estimated to be over 10,000.

In response to the increasingly volatile security situation in the Middle East, the Department of Overseas Labor (under the Ministry of Home Affairs) has directed manpower agencies to suspend sending Vietnamese workers to the region and urged immediate measures to ensure the safety of those currently on site.

The directive follows the coordinated airstrikes launched by the United States and Israel against Iranian territory on February 28, an event that has sharply intensified regional tensions. Iran has since initiated retaliatory strikes against US and Israeli targets across the Middle East, including several countries with significant Vietnamese labor populations such as Saudi Arabia, the United Arab Emirates (UAE), Qatar, Bahrain, and Kuwait.

To prioritize the security and safety of Vietnamese citizens, the Department has requested that all licensed labor export agencies temporarily halt the deployment of workers to the Middle East. This suspension will remain in effect until the situation is stabilized and returns to normalcy.

Labor agencies are required to maintain constant communication with host-country partners and employers to stay updated on the conflict. They are expected to take proactive steps to safeguard the security, safety, and legal rights of Vietnamese workers in case of emergency.

Furthermore, agencies have been instructed to provide psychological support to workers currently in the region to prevent panic and anxiety. They must ensure that workers are well-informed of the situation so they can actively cooperate in safety and security protocols.

The Department also emphasized the importance of maintaining regular contact with Vietnamese diplomatic missions and labor management sections at Vietnamese embassies within the region to provide timely updates on the status of the workforce.

According to the Department, approximately 34 Vietnamese enterprises are deploying workers to the Middle East. The total number of Vietnamese guest workers currently living and working across the Middle East is estimated to be over 10,000.

Vneconomy-Thu Hằng

Ms. Silvia Danailov, Representative of UNICEF in Vietnam, tells Vietnam Economic Times/VnEconomy that Vietnam’s ambition to achieve sustained double-digit growth in the new era will not be realized unless women are fully empowered to lead and succeed in the economy.

As a female leader in Vietnam’s current development landscape, what specific ways has UNICEF Vietnam and your leadership contributed to the country’s economic growth, including in job creation, innovation, and sustainable development?

My work is grounded in a simple conviction: investing in children - especially girls - is one of the most powerful drivers of sustainable economic growth. As the world’s leading child rights organization, UNICEF has partnered with the government and people of Vietnam for more than 50 years to strengthen national systems and programs in education, health, nutrition, water and sanitation, child protection, and social protection. These investments are not only essential for children’s well-being; they also form the foundation of a productive, resilient, and future-ready workforce.

UNICEF’s initiatives actively contribute to job creation and economic stability by strengthening public service systems that employ and serve millions - particularly women, young people, and marginalized communities. From expanding access to quality early childhood education and health services to reducing child poverty through robust social protection policies, UNICEF works to ensure that economic opportunity is inclusive and that human capital development keeps pace with Vietnam’s ambition to become a high-income country by 2045.

Under my leadership, UNICEF Vietnam has placed strong emphasis on digital transformation and innovation. We harness digital tools to improve service delivery, broaden outreach, and strengthen data-driven decision-making. At the same time, we equip adolescents - especially girls - with the digital and transferable skills needed for the future economy.

We also champion gender-transformative education by promoting girls’ participation in STEAM (Science, Technology, Engineering, Arts, and Mathematics), fostering women’s leadership, and addressing structural barriers that limit women’s economic potential. These efforts are essential for sustainable development, because when girls and women thrive, economies become stronger, more innovative, and more resilient.

In parallel, we integrate environmental sustainability across our programs and operations, promoting climate-resilient infrastructure and sustainable practices - because economic progress must never come at the cost of future generations. Together, these efforts contribute to building a more inclusive, innovative, and sustainable economy for Vietnam.

Vietnam is aiming for double-digit GDP growth in the coming years to transition towards high-income status. What key initiatives or strategies do you believe are essential for the economy to achieve this target?

Vietnam’s ambition to achieve sustained high GDP growth and transition to high-income status are bold - and achievable. But reaching these milestones will require a shift towards a growth model driven by productivity, innovation, and high-quality human capital. With a shrinking child population and a rapidly-aging society, maximizing the potential of every young person has become an urgent national priority. Long-term investment in children and youth is therefore not only a social responsibility; it is a central economic strategy.

Achieving this transformation demands coordinated action on several key fronts: an inclusive and future-oriented education system; a digitally skilled and adaptable workforce; strong social protection systems that reduce inequality; and climate resilience to safeguard development gains. International experience shows that countries that successfully made the leap to high-income status invested early and consistently in their people - starting from early childhood through adolescence - to ensure that growth is rapid, inclusive, and sustainable.

What specific action is your organization taking to support this goal?

UNICEF’s contribution in Vietnam is focused on supporting these national priorities at scale and with long-term impact. We work with government partners to strengthen education systems so that children and adolescents acquire not only foundational competencies but also digital and transferable skills essential for success in a modern, dynamic economy. We support digital transformation across education, health, and social services to improve efficiency, expand coverage, and enhance quality - while ensuring that vulnerable and remote communities are not left behind.

We also advocate for robust social protection systems that help families withstand economic and climate-related shocks, protecting children’s learning, health, and future productivity. At the same time, we promote climate-resilient social services - recognizing that climate risks, if unaddressed, can undermine growth potential and reverse hard-won development gains.

Across all our programs, UNICEF is committed to ensuring that investments in children translate into measurable improvements in human capital and productivity. By strengthening workforce readiness, reducing inequality, and building resilience, these efforts help lay the foundation for the sustained, high-quality growth Vietnam needs to achieve its long-term economic aspirations.

Women leaders like yourself have played an increasingly vital role in driving Vietnam’s inclusive and resilient economic progress. What challenges have you faced as a female leader in contributing to national development?

Women leaders are becoming increasingly visible in Vietnam’s development landscape, but the journey continues to present challenges. One of the most persistent obstacles I have encountered over more than 25 years working around the world - and witnessed among many women - is navigating unconscious bias and deeply rooted stereotypes. Women’s leadership styles and decisions are often judged through a different lens, requiring us to demonstrate competence and resilience in ways our male counterparts may not.

Unequal access to leadership development opportunities is another challenge. Early in my career, I noticed that high-quality training in strategic leadership, financial management, digital transformation, or executive decision-making was not always accessible or affordable for women, especially in social or mission-driven sectors. This can reinforce skill gaps and slow women’s progression into senior roles, even when they carry significant responsibilities. This is, however, changing, which is very encouraging.

Given my experiences as a women leader, I see values-driven and human-centered leadership, focused on empathy, care and inclusion, as a must to motivate teams and achieve impactful results. Workplaces where respect, inclusion, and psychological safety are non-negotiable are the best ones for women and men to thrive and contribute to the collective goals.

Balancing leadership responsibilities with family and caregiving duties is a reality for many women, like me, and workplaces that recognize this - through adaptable work arrangements and supportive parental leave - are the ones in which employees thrive. Equally important is fostering a culture where caregiving is respected and does not limit career advancement. When workplaces support caregivers, they unlock the full potential of women leaders, strengthen organizational performance, and contribute to more resilient and sustainable development for Vietnam’s future.

Throughout my career, strong support networks have been critical. Mentors, peers, and professional communities help women navigate challenges, share lessons, and maintain confidence. This is why I strongly advocate for investing in women and girls - through digital skills, financial literacy, leadership training, and supportive networks - so they can participate fully in Vietnam’s social and economic transformation.

Ultimately, addressing these challenges is not only about advancing women leaders; it is about unlocking Vietnam’s full talent potential. Inclusive leadership strengthens institutions, improves decision-making, and contributes to a more resilient and sustainable future for the country’s children.

What bold policies would you recommend to further empower women entrepreneurs and leaders to accelerate Vietnam’s path toward sustained double-digit growth in the new era?

Vietnam’s ambition to achieve sustained double-digit growth in the new era will not be realized unless women - who make up half of the population and a significant share of entrepreneurs, workers, and innovators - are fully empowered to lead and succeed in the economy. From my perspective, bold policies are needed not only to support today’s women entrepreneurs and leaders, but also to build a strong pipeline of girls and young women who will drive Vietnam’s future growth.

First, Vietnam should significantly increase investment in training, mentorship, and leadership development programs specifically designed for women entrepreneurs and aspiring leaders. This includes targeted support in strategic leadership, financial management, digital transformation, innovation, and green skills - particularly in high-growth sectors such as the digital economy, the green transition, and advanced manufacturing. When women have equal access to skills, networks, and leadership opportunities, the economic returns are substantial in terms of job creation and productivity.

Second, expanding women’s access to finance at scale is essential. Women-owned businesses still face structural barriers in accessing capital, despite strong performance and growth potential. Policies that incentivize financial institutions to lend to women entrepreneurs, alongside blended finance and guarantee mechanisms, could unlock significant domestic value creation and employment.

Third, strengthening social protection and care policies is a game-changer for women’s economic participation. Reducing the burden of unpaid care work - through affordable childcare, shared parental leave, and inclusive social protection - frees women’s time, increases their economic agency, and enables greater investment in entrepreneurship and leadership.

Fourth, long-term transformation must start early. Empowering adolescent girls and young women through education, skills development, and access to networks is critical to building the next generation of women leaders. This means expanding girls’ participation in STEM [Science, Technology, Engineering, Mathematics] from the early grades, embedding digital, financial, and entrepreneurial skills in education systems, providing equitable access to career guidance and vocational pathways, and actively challenging gender stereotypes that limit girls’ ambitions.

To ensure impact and accountability, Vietnam should also strengthen the availability and use of sex-disaggregated data. High-quality data and analysis are essential to inform policy decisions, track progress, and hold institutions accountable for results related to women’s economic empowerment - especially during periods of economic transition or crisis.

Finally, policies and financing must link humanitarian and development goals, ensuring that systems such as education, health, and social protection are resilient and inclusive. When shocks occur - whether economic, health-related, or climate-driven - women and girls are often the first to be left behind. Strong, shock-responsive systems are therefore not only a social safeguard, but a foundation for sustained growth.

UNICEF accompanies Vietnam stakeholders in advancing these priorities. We have been present in the country for over 50 years and will continue to partner with all to achieve women’s rights and children’s rights.

-Linh San

MAs are increasingly becoming the best option for major players to expand their real estate assets.

In a tightening financial environment, many businesses have pivoted towards mergers and acquisitions (MAs) as a key strategy to sustain growth momentum. In addition, a number of conglomerates, following restructuring efforts, have been actively expanding their real estate portfolios through MA transactions.

According to the Foreign Investment Agency at the Ministry of Finance, total newly-registered, additional, and contributed foreign investment, including share purchases and capital contributions, exceeded $38.4 billion in 2025, up 0.5 per cent against 2024. Real estate ranked second among investment destinations, attracting more than $7.1 billion, or 18.51 per cent of the total and representing a 12.7 per cent increase.

Solution to sustain growth

Capital inflows continued to favor projects with strong legal transparency, particularly commercial land banks that have secured planning approval, hold clear land use rights, and offer well-defined construction completion timelines.

That said, the market is showing clear stratification between investor groups. While domestic investors lead in transaction frequency, primarily through small and mid-sized deals, foreign partners are focusing on large-scale transactions, especially in the high-end residential segment, integrated urban developments, and strategically significant industrial real estate.

Figures from global real estate consultants Jones Lang LaSalle (JLL) show that for disclosed MA transactions during the first eleven months of 2025, cumulative deal value reached $2.4 billion and is significantly higher including undisclosed transactions observed by JLL.

Notably, the residential real estate sector dominated, accounting for more than 70 per cent of total MA value. Commercial real estate and hospitality followed, with 17.7 per cent and 5.3 per cent, respectively. Data centers also emerged as a promising niche, representing 3.3 per cent of total MA activity.

Ms. Le Thi Huyen Trang, Country Head Head of Research and Consulting at JLL Vietnam, said the marked disparity reflects strong investor demand for “land banking.” This trend has become increasingly important as clean land supply tightens and legal procedures are enforced with greater transparency.

In particular, policies allowing negotiated land use rights for non-residential land to develop commercial housing from April 2025 have opened significant opportunities for land use conversion from industrial and agricultural purposes. This is expected to further spur MA activity in the residential segment, which continues to face prolonged supply shortages alongside high absorption rates.

Meanwhile, the office segment shows clear divergence. Ho Chi Minh City is grappling with severe supply shortages, high occupancy rates, and sharply rising rents, while Hanoi is witnessing a strong wave of FDI from international investors. In the hospitality sector, expected investment yields are estimated at 8-9 per cent this year, with total MA transaction value projected at $125 million.

Beyond these segments, JLL reported cumulative MA transaction value in industrial real estate of $74 million during the first eleven months of the year. Rather than leasing land to develop from scratch, investors are increasingly favoring the acquisition of industrial parks with existing infrastructure, followed by phased expansions. This approach shortens development timelines, ensures infrastructure quality, and mitigates legal risks. “The emergence of investment products such as industrial land banks, ready-built factories, and specialized assets like cold storage facilities and data centers is creating a diverse range of MA opportunities,” Ms. Trang emphasized.

Key drivers

Experts point to legal and policy reform as the primary driver, particularly the issuance of National Assembly Resolution No. 171/2024/QH15, which ushered in a new era for the market from April 2025 by allowing investors greater flexibility in converting non-agricultural land into commercial housing projects. At the same time, Politburo Resolution No. 68-NQ/TW has laid a solid foundation for private sector growth, while the government continues to refine the legal framework and innovate capital mobilization mechanisms.

Corporate restructuring needs represent the second critical factor. Many domestic companies are facing liquidity pressures and accumulated bad debts stemming from the 2020-2022 growth boom, prompting them to pursue MA solutions to reorganize finances and complete project legalities.

Another factor is a stable monetary policy environment, with average lending rates at 7-9 per cent, lower than in recent years, creating favorable conditions for capital access. These preferential rates not only help level the playing field between domestic and international investors but also encourage long-term capital inflows into the market.

Nevertheless, experts note that international investors, particularly from South Korea, Singapore, Japan, and the US, are applying two clear priority criteria when evaluating MA opportunities in Vietnam.

Legal transparency has become a non-negotiable factor in all investment decisions. These investors are especially focused on projects with complete legal documentation and immediate deployability, and are even willing to move faster on “clean” assets in exchange for legal certainty and shorter investment timelines.

At the same time, sustainability and environmental considerations are increasingly prioritized, particularly by European and North American funds that adhere strictly to environmental, social, and governance (ESG) standards. Against the backdrop of Vietnam’s strong commitment to net-zero emissions targets, these investors are seeking projects with climate resilience, energy efficiency, and compliance with international green standards.

Recommendations for enterprises

JLL recommends that Vietnamese companies focus on four key elements to effectively attract investors. First, ensure full legal compliance of assets, particularly land use rights and related permits, while preparing detailed legal due diligence reports. Second, conduct professional valuations aligned with international standards and update them regularly to accurately reflect market value; a critical factor in negotiations. Third, maintain flexibility in deal structures. Fourth, build a transparent financial system with internationally-audited reports and clear corporate governance. Enterprises should invest in standardizing financial reporting systems and establishing robust internal governance processes to ensure success in future MA transactions.

From a personal perspective, Dr. Su Ngoc Khuong, Senior Director of Investment at Savills Vietnam, observed that foreign investors have been particularly active in MA deals in Vietnam, attracted by competitive costs, a large workforce, a strategic position in global supply chains, and a markedly improved legal framework.

He noted that the biggest opportunity lies in access to international capital and advanced project development technologies, which can help local companies enhance their competitiveness. However, risks remain in areas such as asset valuation and post-merger management, as companies may lose operational control or face deeper-than-expected restructuring pressures without careful control. To maximize benefits, domestic enterprises must prepare thoroughly and select partners that share a long-term vision and development commitment.

According to Mr. Vo Huynh Tuan Kiet, Residential Project Marketing at CBRE Vietnam, today’s MA landscape belongs to investors with long-term vision, clear strategy, and genuine operational capabilities. The market is shifting from opportunistic deals to strategic MA transactions, where every square meter of land is optimally leveraged through layered models of joint ventures, partnerships, and multi-tiered cooperation.

VET-Hoang Bach

These include rural laborers, women, people with disabilities, individuals whose agricultural or business land has been reclaimed, and those who have completed prison sentences.

The Hanoi People’s Committee has officially issued a plan for elementary-level vocational training and short-term courses (under three months) across the city for the year 2026.

According to the plan, the city aims to provide short-term training for 8,890 individuals in non-agricultural sectors and 8,190 in agricultural fields.

Out of the total participants, 16,345 trainees will be drawn from specific priority groups as outlined by Government decrees. These include rural laborers, women, people with disabilities, individuals whose agricultural or business land has been reclaimed, and those who have completed prison sentences.

An additional 735 slots are reserved for youth who have completed their military or police service, volunteers who have finished tasks in socio-economic development projects, and employees currently working in small and medium-sized enterprises (SMEs).

The primary objective of the initiative is to equip laborers with essential knowledge and vocational skills, thereby creating opportunities for job placement and career transitions that meet the evolving demands of the labor market. This effort is part of a broader strategy to increase the ratio of trained workers and link vocational training directly to local employment solutions.

Furthermore, the plan aims to facilitate the restructuring of the labor force and economy to meet the requirements of international integration, technological application, and digital transformation. The ultimate goal is to improve the quality of human resources, ensure stable employment, and increase income for the workforce.

The training programs will give top priority to people with disabilities, individuals recognized for their meritorious service to the revolution, ethnic communities, and members of poor or near-poor households. Special attention will also be given to households affected by land reclamation, female laborers who have lost their jobs, and fishermen.

Vneconomy-Nhật Dương

The projected complex will feature a commercial and service building reaching a maximum height of 27 stories, with a building density of 35%.

The Ninh Binh Provincial People’s Committee in northern Vietnam has issued Decision No. 478, officially leasing land to Muong Thanh Group JSC for the implementation of the "North Hong Phu Bridge Commercial and Service Area" project.

The project is situated on a prime plot of land covering more than 12,500 sq.m. It boasts a strategic location, bordered by Le Hoan Street (National Highway 1A) to the east, Ngo Quyen Street to the west, the Hong Phu Bridge access road to the south, and existing residential traffic routes to the north. This area is considered a vital transportation hub with high potential for commercial and service growth.

According to the approved plan, the project has a total estimated investment of over VND575 billion (nearly $22 milion). The development will feature a commercial and service building reaching a maximum height of 27 stories, with a building density of 35%. The project will also include a synchronized and modern technical infrastructure system.

Previously, the starting auction price for the land use rights was set at nearly VND585 billion. The Ninh Binh Asset Auction Service Center had announced the second auction for this project in late 2024 to find a qualified investor.

Vneconomy-Nguyễn Thuấn

The central province’s export value for February is estimated at $509.2 million, up 14.3% year-on-year, while import value reached $792.5 million, down 11.9%.

In the first two months of 2026, Thanh Hoa province in central Vietnam recorded many positive signals as industrial production, trade-services, and budget revenue all grew compared to the same period last year, creating strong momentum to achieve the year’s development goals.

In the import-export sector, Thanh Hoa’s export value for February is estimated at $509.2 million, up 14.3% year-on-year, while import value reached $792.5 million, down 11.9%. Cumulatively for the first two months, export value exceeded $1.1 billion, a 16.7% increase, and import value reached over $1.6 billion, up 0.5% compared to the same period in 2025.

Total retail sales of goods and services in February were estimated at VND23.4 trillion ($895 million), a 39.3% increase year-on-year. For the first two months of the year, this figure reached approximately VND43.9 trillion (nearly $1.7 billion), up 20.1%, reflecting sustained positive purchasing power in the market.

In February 2026, industrial production in the province continued to maintain steady growth. The Index of Industrial Production (IIP) rose by 2.06% compared to February 2025. Overall, for the first two months of 2026, the IIP surged by 16.07% year-on-year, indicating a clear recovery and expansion within the industrial sector.

Out of 19 major industrial products, 13 recorded increases compared to the same period last year. Significant growth was seen in several items, including iron and steel (up 11.7%), animal feed (up 8.5%), construction bricks (up 6.7%), electricity generation (up 6.8%), paraffin wax (up 23.6%), and benzene (up 12.1%). These key product groups play a vital role in the industrial and construction supply chains, contributing to the province's overall growth.

Additionally, the power supply remained stable, meeting both production and domestic needs. Commercial power output in February was estimated at 586.8 million kWh, a 7% increase compared to the same month last year.

Vneconomy-Nguyễn Thuấn

The initiative aims to improve the efficiency of law enforcement and strengthen state management discipline over land resources.

Under Decision No. 633/QD-BNNMT recently-issued by the Ministry of Agriculture and Environment, a hotline has been established to receive reports of land violations.

According to the Decision, the hotline will receive and process information from organizations and individuals concerning legal violations in land administration. This initiative aims to improve the efficiency of law enforcement and strengthen state management discipline over land resources.

Specifically, reports will be received via telephone at 0243.629.0196 during office hours (8am – 12pm and 1pm – 5pm on weekdays). Additionally, organizations and individuals may submit reports in writing or via post to the following address: No. 10 Ton That Thuyet Street, Cau Giay Ward, Hanoi.

Submissions must include all required information, including: the full name, address, and phone number of the reporter, along with any confidentiality requests (if any); the name and address of the individual or organization allegedly committing the violation; the location of the land plot involved; the nature of the violation; and any relevant documents or evidence collected (if any).

Regarding the processing procedure, the handling of reported information will comply with the Law on Citizen Reception, the Law on Complaints, the Law on Denunciations, the Law on Inspection, the Land Law, and other relevant legal regulations.

The Decision also specifies that the hotline will handle land management violations as defined under Article 109 of Decree No. 102/2024/ND-CP, as well as land-related violations committed by land users or entities assigned land for management (as stipulated in the 2024 Land Law and Decree No. 123/2024/ND-CP).

Vneconomy-Thanh Xuân