Total investment capital for the component project 3 of the expressway is estimated at over VND7.21 trillion ($274 million).

The People's Committee of Ho Chi Minh City has approved adjustment to the Component Project 3 of the Bien Hoa - Vung Tau Expressway Construction Investment Project (Phase 1).

Under the adjustment plan, construction of an intersection with provincial Road 991, an intelligent traffic management system, a toll station, and a vehicle weight control facility, will be added.

Total investment capital of the component project is estimated at over VND7.21 trillion ($274 million).

The Bien Hoa - Vung Tau Expressway connects former southern Province of Ba Ria-Vung Tau, which has been merged into Ho Chi Minh City, with neighboring Dong Nai province and has a total length of nearly 54 km.

As planned, the project will be put into operation in 2026.

VnEconomy-Thanh Thủy

Travel demand forecast to surge remarkably during the upcoming New Year holiday.

Vietnam Airlines will operate nearly 270 additional flights on key domestic routes to meet the surge in travel demand during the upcoming New Year holiday, according to a report from the Vietnam News Agency.

The extra services will be operated from January 1 to 4, providing around 45,000 additional seats on high-demand routes linking Hanoi and Ho Chi Minh City with major tourist destinations and localities nationwide such as Da Nang, Phu Quoc, Nha Trang, Da Lat, Hue, Vinh, Thanh Hoa, Hai Phong, Pleiku, Buon Ma Thuot, and Con Dao.

The airline advised passengers to plan ahead and book tickets early via its official website, mobile application, or authorised ticket offices and agents, especially during peak periods.

Passengers are encouraged to complete online check-in within 24 hours prior to departure via the Vietnam Airlines website or mobile app, the VNeID platform, the customer service hotline at 1900 6265, or self-service check-in kiosks at airports.

Vietnam Airlines is also promoting the use of biometric identification technology to help reduce processing time at airports.

VNA-Van Nguyen

The Government of Laos authorized Savan 1 Wind Power Co., Ltd. (a subsidiary of Vietnam's TT Group) to design, build, own, and operate the project for a 25-year term to export and sell electricity to Vietnam.

Forty-eight wind turbines belonging to the Savan 1 Wind Power Plant, a renewable energy project in Laos, invested in and developed by Vietnam's TT Group, officially entered commercial operation on December 26, delivering clean energy to Vietnam with a total capacity of 300 MW, according to a report by the Government News.

Located in Savannakhet Province, Laos, Savan 1 is the largest onshore wind project invested in by TT Group to date, marking the conglomerate's inaugural step in its cross-border energy strategy.

With a total planned capacity of 495 MW and a total investment of approximately $768 million, the project is expected to become a flagship renewable energy venture symbolizing the energy cooperation between Vietnam and Laos.

The Lao Ministry of Planning and Investment awarded the concession contract for the project to TT Group in January 2025. Under this agreement, the Government of Laos authorized Savan 1 Wind Power Co., Ltd. (a subsidiary of TT Group) to design, build, own, and operate the project for a 25-year term to export and sell electricity to Vietnam.

Phase 1 of the project, which has now reached commercial operation, features an installed capacity of 300 MW with a total investment exceeding $490 million.

Previously, in August 2024, the Prime Minister of Vietnam approved the policy to import electricity from the Savan 1 project. The Power Purchase Agreement (PPA) between Savan 1 Wind Power Co., Ltd. and Vietnam Electricity (EVN) was also officially signed, providing the legal framework to integrate the project's output into Vietnam’s national power grid.

Báo Chính phủ-

A major highlight of the session was the approval of the investment policy for the Rach Chiec National Sports Complex via the PPP model, with total investment capital of $5.53 billion.

The 10th Ho Chi Minh City People's Council approved a series of strategic infrastructure projects at its 7th session on December 26 , most notably several bridges crossing the Dong Nai River to enhance regional connectivity and the investment policy for the Rach Chiec National Sports Complex.

Specifically, the Council greenlighted the Phu My 2 Bridge to be developed under a Public-Private Partnership (PPP) and Build-Transfer (BT) contract. The 6.3 km, eight-lane bridge has a preliminary investment of VND23.185 trillion (nearlu $881 million) and will connect the southern part of Ho Chi Minh City to Dong Nai Province and the latter's Long Thanh International Airport.

Expected to be implemented between 2025 and 2029, the project aims to ease congestion on the existing Phu My Bridge, National Highway 1, National Highway 51, and the HCMC – Long Thanh Expressway.

Similarly, the Can Gio Bridge, also a PPP/BT project that requires  investment capital estimated at VND13.201 trillion (nearly $502 million), will replace the Binh Khanh ferry to connect Can Gio with the city center, driving socio-economic and tourism growth in the southern region.

Other river-crossing projects including the Thanh Hoi 2, Tan An, and Thu Thiem 4 bridges, with investments ranging from VND1.12 to 5.063 trillion, are scheduled for implementation from 2026 to 2030. These bridges are intended to accelerate cargo transport, lower logistics costs, and create new growth engines for industrial and urban zones.

Furthermore, the session passed a resolution to add several key railway projects to the city’s strategic list, including the Binh Duong New City – Suoi Tien, Thu Dau Mot – HCMC, Vung Tau – Ba Ria – Phu My, and Thu Thiem – Long Thanh lines. Notably, the Council approved the extension of the Ben Thanh – Suoi Tien Metro Line to Long Thanh International Airport in Dong Nai province to complete the region's strategic transport network.

A major highlight of the session was the approval of the investment policy for the Rach Chiec National Sports Complex via the PPP model. Spanning approximately 186.78 ha in Binh Trung Ward, the complex is designed to host professional domestic and international sports events, including the SEA Games, ASIAD, and the Olympics.

The project has a preliminary total investment of more than VND145.6 trillion ($5.53 billion) and will be implemented under a BT contract, with payment to investors provided through land funds.

Vneconomy-Thanh Thủy

The plan must ensure inclusive, comprehensive and feasible development while effectively addressing long-standing bottlenecks.

Prime Minister Pham Minh Chinh has urged faster progress toward the drafting, appraisal, submission and approval of the Hanoi Master Plan, in a document sent to relevant ministries and agencies on December 25.

The direction follows the National Assembly’s decision allowing Hanoi to prepare a unified Master Plan by integrating the Hanoi Capital Plan and the Hanoi General Master Plan.

The PM requested the Hanoi People’s Committee to speed up preparations, complete appraisal procedures and promptly submit the Master Plan to the competent authority for approval.

The plan must ensure inclusive, comprehensive and feasible development while effectively addressing long-standing bottlenecks such as traffic congestion, air pollution, urban flooding, clean water supply and environmental sanitation, according to the direction.

During the planning process, Hanoi was instructed to coordinate closely with neighboring provinces, including Phu Tho, Thai Nguyen, Bac Ninh, Hung Yen and Ninh Binh.

The goal is to ensure strong linkages in the development space and synchronized connections between urban and rural areas and shared strategic infrastructure such as transport, electricity, water supply, waste treatment and telecommunications.

At the same time, the plan should fully tap the potential and strengths of each locality and the wider capital region to foster balanced, inclusive and coordinated development.

VnEconomy-Hoàng Bách

Hanoi, Ho Chi Minh City and Da Nang rank first, second and third, respectively.

​According to the 2025 Vietnam eBusiness Index (EBI) report, released by the Vietnam E-commerce Association (VECOM),  Hanoi tops the index with 74.7 points, followed by Ho Chi Minh City with 73.5 points, and central Da Nang city, with 28.1 points.

The average score of the rankings is 9.3 points. As a result, the gap in e-commerce development between the country’s two largest cities and the remaining provinces and cities is very large.

The Vietnam EBI is compiled from three component indicators: human resources and information technology infrastructure; business-to-consumer (B2C) e-commerce transactions; and business-to-business (B2B) e-commerce transactions.

According to VECOM’s report, the 1998 - 2005 period marked the formative stage of e-commerce, with a focus on building e-commerce infrastructure. The second stage, from 2006 to 2015, was the phase of widespread adoption. Since 2016, Vietnam’s e-commerce has entered a third stage characterized by rapid growth.

Despite the impacts of the COVID-19 pandemic and global economic instability in recent years, Vietnam’s e-commerce growth rate has remained consistently high.

From $4 billion  in 2015, the country’s  e-commerce market size increased eightfold to $32 billion in 2024.

This strong growth has been driven by several factors, including relatively high GDP growth, a young population, and strong investor interest, all of which have encouraged online shopping demand, the Vietnam News Agency remarked.

It quoted VECOM as assessing that this year was a year of preparation for a new development phase–the fourth stage of Vietnam’s e-commerce development.

This stage is expected to begin next year and will be marked by rapid and sustainable growth.

VNA-Van Nguyen

MA transactions are on the rise and will continue upwards as 2025 comes to a close.

Figures from the Foreign Investment Agency at the Ministry ofFinance show that Vietnam drew in $31.52 billion in registeredFDI in the first ten months of 2025; a solid 15.6 per centincrease year-on-year. Despite a slight dip in newly-registeredcapital, investment through capital contributions and sharepurchases shot up by 45.1 per cent to $5.34 billion.

Driven by ongoing reforms to improve Vietnam’s investmentenvironment, FDI saw impressive momentum over the ten-month period, setting the stage for an active merger andacquisition (MA) market in the closing months of 2025.

Deal highlights

According to Grant Thornton’s October edition of Monthly DealDigest, Vietnam’s MA market recorded 52 transactions in the month with total disclosed and estimated value of some $720.45million. The leading sectors were real estate, energy, industrials,and financials.

By disclosed or estimated value, real estate and industrialsposted deals worth roughly $225 million and $109 million,respectively, while the energy sector saw a notable upswing inboth deal volume and value, reaching around $115 million, for asharp increase compared with previous months.

In terms of volume, the market showed broader sectoraldiversification than in earlier periods. Industrials led with ten transactions, followed by energy with seven, while most othersectors recorded four or five deals each.

October saw a series of notable transactions, for exampleVincom Retail (VRE) selling 99.99 per cent of its ownership inVincom NCT Real Estate - the operator of Vincom CenterNguyen Chi Thanh in Hanoi - to Bao Quan Trading, Investmentand Services for about $133 million. The sale aligns with VRE’songoing portfolio restructuring as it pivots towards large-scalemegamalls integrated with Vinhomes’ urban developments.

South Korea’s OCI Holdings, meanwhile, strengthened itsregional manufacturing footprint by acquiring a 65 per centstake in Elite Solar Power Wafer, a Vietnam-based solar waferplant currently under construction. OCI ONE’s equityinvestment of roughly $78 million will help scale initial capacityof 2.7 GW, with plans to double output within months.

Elsewhere, MyStorage, a technology-integrated self-storageprovider, secured a multi-million-dollar investment fromSingapore-based EMIA, which will support network expansion,upgrades to its digital platform, and environment, social, and governance (ESG)-related initiatives.

Japan’s Sumitomo Corporation acquired a 49 per cent stake inthe MEE JSC, owner of the Dak Di 1 and 2 hydropower plantswith 48 MW, marking its first hydropower investment inVietnam.

Levanta Holding purchased an 80 per cent stake in HBRE GiaLai Wind Power for $33.1 million during the month of October, while Verdant Energy completed its acquisition of an 11-MWrooftop solar portfolio spread across ten shopping centers.

Meanwhile, Platinum Victory, the largest shareholder of REE,registered to acquire additional shares worth around $43.6million, which could raise its ownership to nearly 45 per cent.

Dabaco Group approved the purchase of 2.5 million additionalshares in the Thinh Phat Kim Son 1 JSC to finance a high-techpig farming complex in northern Lao Cai province, raising itsstake to 88.18 per cent.

The Vietnam-based menswear brand Coolmate closed a Series Cfunding round, led by the Vertex Growth Fund. The companyplans to expand into women’s fashion, scale offline retail, andaccelerate international market entry.

Ares Asia Private Equity made its first investment in Vietnam in the month by becoming a strategic investor in the MEDLATECGroup. The partnership will support digital transformation, AI-driven diagnostics, and expansion of internationally accreditedhospitals and laboratories.

DSC Securities increased its stake in pharmaceutical firm VDPto 19.77 per cent through a transaction valued at about $8million.

PIDG, through InfraCo, invested $8.68 million in the Hoa Binh - Xuan Mai Water Company to build a 150,000 cu m a day cleanwater treatment plant serving rural and peri-urban areas innorthern Phu Tho province.

The De Heus Group, meanwhile, signed an agreement to acquire100 per cent of CJ Feed  Care for approximately $852.27million, adding seven feed factories in Vietnam to its portfolioand reinforcing its position as the country’s largest animal feedproducer.

Though October’s total deal value was roughly the same as September’s, composition and activity signaled clearer signs ofrecovery. Most completed transactions were strategic MAdeals driven by foreign investors. At the same time, privateequity funds began re-entering the market after an extendedperiod of caution. Several made their first investments inVietnam, notably Ares Management’s investment inMEDLATEC and EMIA’s investment in MyStorage,underscoring renewed confidence in Vietnam’s medium andlong-term growth prospects.

Changing landscape

Experts believe Vietnam’s MA market is poised for strongergrowth as the government accelerates institutional reforms andexpands new economic spaces, creating a more favorableenvironment for both domestic and foreign investors.

Associate Professor Tran Dinh Thien, former Director of theVietnam Institute of Economics, emphasized that Vietnam isentering an “unusual but highly promising” phase. He said thecountry’s biggest breakthrough has been its willingness toconfront longstanding institutional bottlenecks, particularlythose that once constrained the private sector. As policies evolveto empower private enterprise, Vietnam is regaining themomentum that has historically driven its major economictransitions.

He added that this shift is opening significant opportunities forMA, especially as strong companies look to scale andstruggling firms seek restructuring solutions. With Vietnamtargeting sustained double-digit growth over the next twodecades, the government is expanding economic “space” through new strategies for marine industries, spatial and low-altitude economic activities, and diversified developmentframeworks. In this context, MAs become a critical tool toconsolidate resources and position businesses to capitalize onnewly-emerging fields.

Policy clarity and consistency remain central to investorconfidence. Mr. Pham Viet Thang, Deputy Director of theBusiness Development Institute (BDI), noted that foreigninvestors pay closest attention to the stability and predictabilityof Vietnam’s policy environment. Strengthening the legalframework and ensuring transparent, uniform implementationwill be key to making MA more attractive. At the same time,the success of these transactions hinges on the capacity ofdomestic firms.

He stressed that Vietnamese companies must enhancegovernance transparency, adopt international standards, anddevelop proactive MA strategies, not just as sellers but aslong-term partners capable of leveraging foreign capitaleffectively.

According to Mr. Nguyen Van Thai, Deputy Head of the Boardfor the Establishment of the Vietnam MA Association, themarket remains fragmented due to the absence of arepresentative body and a lack of unified guidelines. MAregulations are still dispersed across multiple laws, and officialdata is largely unavailable. Establishing an MA association, heargued, is essential to setting consistent standards, strengtheningindustry coordination, and promoting transparency, all of whichare critical for a sustainable market.

Together, these policy shifts, from institutional reform andexpanded development spaces to improved regulatoryconsistency and stronger domestic enterprise capability, arelaying the foundation for Vietnam’s next phase of MA growth.

VET- Diệp Linh

The city plans to select contractors and break ground in the fourth quarter of 2026, aiming to complete and open the bridge to traffic by the fourth quarter of 2028.

The Ho Chi Minh City People’s Council has officially passed a resolution approving the investment policy for the construction of the Thu Thiem 4 Bridge.

This key infrastructure project will be developed through public investment with a total budget exceeding VND5.063 trillion (over $192 million), with the HCMC Transportation Works Construction Investment Project Management Board serving as the project developer.

The city plans to select contractors and break ground in the fourth quarter of 2026, aiming to complete and open the bridge to traffic by the fourth quarter of 2028.

The bridge will begin at Nguyen Van Linh Street, near the Tan Thuan 2 Bridge intersection in District 7, and terminate at Nguyen Co Thach Street within the Thu Thiem New Urban Area in Thu Duc City. Designed with a speed limit of 60 km/h, the bridge will feature eight lanes, including six motorized lanes and two mixed-traffic lanes. The total length of the route is approximately 2.16 km, of which the bridge structure itself spans 1.635 km.

HCM City has designated Thu Thiem 4 as a priority and urgent project to synchronize the regional technical infrastructure system in line with the master plan approved by the Prime Minister.

Once operational, the bridge is expected to redistribute traffic flow and reduce the burden on existing routes and bridges such as Nguyen Tat Thanh, Khanh Hoi, Kenh Te, Ong Lanh, and Nguyen Van Cu. 

Vneconomy-Thanh Thủy

Its core objective is to operate a casino and provide related services.

Construction of the high-end integrated casino tourism services complex has been kicked off recently in Van Don Economic Zone in northern Quang Ninh province.

The complex is invested in by Sun Group, with capital estimated at $2 billion.

Covering some 244 hectares, the project is designed as a high-end resort and entertainment complex with gaming, aiming to host international events and become a leading regional and global destination. Its core objective is to operate a casino and provide related services in compliance with Vietnamese legal regulations.

The project will have a maximum operational period of 70 years.

VnEconomy-Đỗ Hoàng

Vietnam hopes to be a key player in the skies above our heads as the low-altitude economy becomes a new frontier in innovation.

The concept of the low altitude economy (LAE) - also known as the marginal-space economy - first emerged in China in the 2010s. It refers to economic activity taking place in the airspace below 1,000 meters, and in some cases up to 3,000 meters, above ground level. The economy primarily relies on low-altitude manned and unmanned aircraft to deliver a wide range of aerial services, but development in these early years has been notably slow.

In Vietnam, the industry has begun expanding. “Vietnam stands before a ‘once-in-a-thousand-year’ opportunity to become the global hub of the LAE,” Mr. Truong Gia Binh, Head of the Private Sector Development Research Board (Board IV), told the recent Vietnam Private Sector Forum 2025, expressing confidence in Vietnam’s prospects in this emerging field.

Joining the game

In recent years, technology superpowers have been quietly racing to dominate a “new aerial frontier” - the space between ground level and traditional flight altitudes. A wave of legal frameworks, safety standards, and dedicated airspace management regimes for the LAE has been introduced across the US, Europe, and China, laying the groundwork for a field that could reshape the entire economic landscape in the future.

The US Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA) have developed certification frameworks tailored to electric vertical takeoff and landing (eVTOL) aircraft - a key vehicle within the LAE. China, meanwhile, has gone even further, introducing a more comprehensive set of regulations than both of these economies and establishing the Low Altitude Economy Development Department in December last year.

According to a Morgan Stanley report, the market for urban air mobility (UAM) alone - a major segment of the LAE - could reach $1 trillion by 2040 and surge to $9 trillion by 2050. Such forecasts have made the LAE a veritable “gold mine” for countries looking to secure their position in the next generation of technology and industry.

Recognizing this opportunity, Vietnam has moved quickly. On August 25, the Vietnam Aviation-Aerospace-UAV Network was launched, bringing together nearly 100 experts, scientists, and engineers from inside and outside the country. Just over a month later, the Vietnam Low Altitude Economy Alliance was officially established, with participation from technology groups, financial institutions, and startups, aiming to build a cohesive development strategy for the LAE sector. The Alliance expects the new economy to help create thousands of support enterprises, generate 1 million high-quality jobs, and bring tens of billions of US dollars to Vietnam over the next 10 to 15 years.

Mr. Tran Kim Chung, Chairman of the CT Group, one of the pioneers in mastering unmanned aerial vehicle (UAV) technologies, emphasized the transformative potential of the LAE, which he described as essentially an expanded “aerial replica” of the entire ground economy. It spans all sectors: smart agriculture, logistics, transportation, construction, surveillance, rescue, and even national defense. “Once we master the LAE, we not only take control of a technological chain but also gain access to an entirely new development space,” he stressed.

He added that productivity gains from this sector “will not rise by a few dozen per cent, but by several times,” making it a critical driver of economic breakthrough. Moreover, because the LAE integrates multiple advanced technologies, mastering it would allow Vietnam not only to secure technological autonomy but also to claim a differentiated position on the global stage.

Altitude as an advantage

The CT Group drew significant attention in August when it signed a UAV export deal with South Korea, witnessed by Party General Secretary To Lam and South Korean Prime Minister Kim Min Seok.

Another Vietnamese player, Realtime Robotics Vietnam (RtR), has also taken Vietnamese UAVs to the global stage. In 2023, after nearly nine years in the field, RtR successfully exported its first HERA UAV to the US. Notably, the entire research, design, and manufacturing process for the HERA was carried out in Vietnam. The UAV model is now supplied to the US National Security Forces, US police departments, and law enforcement units in the Netherlands.

The Viettel Group is also developing multiple UAV product lines for both civilian and defense purposes. Its standout reconnaissance UAVs - the VU-R50 and VU-R70 - can fly continuously for 3-6 hours with an operational radius of some 70 km. The group has also deployed drones carrying mobile 4G/5G broadcasting equipment that operate at altitudes of 50-100 meters, provide coverage within a 6-km radius, and can stay in the air for up to 24 hours thanks to hybrid power cables tethered to the ground.

Other companies, including Phenikaa-X (part of the Phenikaa Group) and HTI Technology, are working to master vertical takeoff and landing (VTOL) technologies. Phenikaa-X’s VTOL-01 is designed to perform well in mountainous terrain for rescue missions, while HTI’s Horus P02, equipped with thermal sensors, is suited for surveillance and inspection with potential in rescue operations in the future.

In the draft amendments to the Law on Civil Aviation, the government proposed adding policies to develop low altitude air transportation, aiming to create a legal corridor for UAVs, commercial drones, and other unmanned aircraft. The amendments cover regulations on aircraft management, operations, imports and exports, airspace oversight, flight activities, and areas related to commercial and specialized aviation.

These policies aim to promote UAV applications in logistics, agriculture, rescue, surveying, and other fields, while enabling domestic enterprises to participate more deeply in high-tech value chains. The draft law also proposes regulations on the planning, investment, and expansion of airports to facilitate the mobilization of private capital for aviation infrastructure, particularly in the emerging low altitude transportation sector, giving businesses greater autonomy and strengthening operational capacity.

Horizons in the making

Within the LAE, UAVs, or drones, and eVTOLs - often dubbed the “air taxis” of the future - are only the surface of a much larger ecosystem. The LAE brings together multiple advanced technologies, from 5G telecommunications and AI to the Internet of Things (IoT) sensor networks, cloud computing, and smart ground infrastructure.

Its potential goes far beyond cargo transport or security monitoring. In smart agriculture, UAVs can spray crops, sow seeds, and measure soil conditions to boost yields and reduce environmental impact. In logistics and e-commerce, delivery drones can cut transport times from hours to minutes - a major advantage in mountainous areas, remote islands, or congested cities. In urban settings, autonomous aerial networks could strengthen traffic monitoring and infrastructure inspection.

These applications highlight the wide runway for the LAE’s expansion, especially as the global race is only beginning. With growing research capacity and a maturing tech ecosystem, Vietnam’s ambition to become a regional LAE hub is increasingly realistic.

The UAV segment, in particular, carries strong expectations. Deputy Prime Minister Nguyen Chi Dung has noted that UAVs are a field where Vietnam can leapfrog and take the lead.

Mr. Tran Anh Tuan, Executive Vice Chairman and CEO of the Vietnam UAV Network, is also confident that “Vietnam can become a leading UAV hub in ASEAN within the next ten years, with ‘Made in Vietnam’ products serving both domestic and global markets.”

The sky is emerging as a new frontier for innovation, and Vietnam aims not just to join the race but to help shape it. Achieving that vision, however, will require a steady and strategic roadmap: completing the regulatory framework for low-altitude airspace; creating incentives and sandbox mechanisms for innovation; and investing in RD and high-quality talent in core fields.

VET-Ngo Huyen

The loan worth EUR76 million ($89.47 million) to implement the Bac Ai pumped-storage hydropower plant in central Khanh Hoa province.

The Vietnam Electricity (EVN) Group has signed a credit agreement with the French Development Agency (AFD) for a loan worth EUR76 million ($89.47 million) to implement the Bac Ai pumped-storage hydropower plant (Bac Ai project) in central Khanh Hoa province, according to a report from the Vietnam News Agency.

This is the first of six loan packages, totaling nearly EUR480 million, provided by a consortium of six lenders for the project.

The Bac Ai project has a designed capacity of 1,200 MW, comprising four turbines of 300 MW each, with a total investment of VND21.1 trillion ($802.5 million). It is included in the list of power projects approved in principle for investment by the Prime Minister. EVN has assigned the Power Project Management Board No. 3 (EVNPMB3), as the investor’s representative.

The project holds significant importance for the national power system, especially as many renewable energy plants, including solar and wind, are being integrated. Its main task is to provide peak-load electricity, helping to smooth load fluctuations by pumping during off-peak hours and generating power during peak hours.

VNA-Vân Nguyễn

Electronic labor contracts are regulated under the Government’s Decree No. 337/2025/ND-CP issued on December 24.

The Government has  promulgated Decree No. 337/2025/ND-CP dated December 24, 2025 , regulating electronic labor contracts, according to a report from the Government News.

The Decree, scheduled to take effect from January 1, 2026, defines an electronic labor contract as a labor agreement concluded and enforced in the form of data messages in accordance with labor law and electronic transaction law.

A electronic labor contract shall have the same legal validity as a traditional paper contract.

Electronic labor contracts must be provided to both employees and employers as electronic data, using methods that they have mutually agreed on.

The execution of electronic labor contracts is carried out through e-contract, which ensures compliance with all regulatory requirements.

The e-contract is an information system for electronic transactions in concluding and executing electronic labor contracts. It is linked to the electronic labor contract platform, allowing employees and employers to create, digitally sign, store, retrieve and manage electronic labor contracts, as well as report labor usage and certify electronic labor contracts in accordance with regulations.

By July 1, 2026, the electronic labor contract platform must officially become operational.

 Electronic labor contracts shall be concluded and executed in accordance with this Decree from July 1, 2026.

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With cyberattacks presenting a constant threat to users of all stripes, a draft cybersecurity law is hoped to close legal gaps while also opening the door for Vietnamese product and service providers to grow.

Vietnam is undergoing a rapid digital transformation, with more than 80 million internet users around the country and fast-growing digital ecosystems spanning smartphones, computers, and smart homes. But alongside these benefits come significant risks, as cybercriminals shift to organized attack models and deploy cutting-edge technologies to commit fraud, penetrate systems, and steal data.

More than 600,000 cyberattacks were recorded in Vietnam in 2024, a number that underscores the immense pressure on government agencies and businesses. As the country prepares to expand 5G connectivity, the attack surface is expected to grow exponentially. The draft Law on Cybersecurity 2025, meanwhile, seeks to address existing legal gaps and strengthen national autonomy by fostering a domestic market that encourages Vietnamese enterprises to develop new technologies.

Domestic defense layer

Most Vietnamese businesses and organizations still rely heavily on foreign cybersecurity products. A survey by the National Cybersecurity Association (NCA) found that in a typical organization using ten security solutions, only two come from Vietnamese providers. Even then, domestic tools are often used only for non-critical services or when foreign vendors have no local representatives, forcing organizations to turn to local companies.

At the recent “Cybersecurity Law 2025: Strengthening Technological Autonomy” seminar, Associate Professor Nguyen Ai Viet, Director of the Institute for Generative Intelligence Technology and Education (IGNITE) noted a sobering reality: many banks, corporations, and major institutions remain reluctant to adopt local products. The main reason, he believes, is a persistent preference for foreign brands and a tendency to underestimate domestic capabilities.

According to the Associate Professor, the deeper issue is a lack of cybersecurity awareness at the leadership level. Many executives leave such decisions to subordinates, who in turn avoid responsibility. He acknowledged that domestic products may not yet match foreign equivalents in all respects, but they offer clear strengths: faster response, closer technical support, Vietnamese-language interfaces tailored to local administrators, and the ability to integrate flexibly with international standards.

Foreign products, meanwhile, benefit from strong technology platforms and years of global market testing, while Vietnamese solutions struggle simply because local users hesitate to adopt them. This creates a cycle of limited capital and limited market access, stunting the growth of even capable domestic providers.

Mr. Nguyen Minh Duc, Head of the Cybersecurity Services Club and CEO of CyRadar, echoed this view. “If Vietnamese products don’t get real-world deployment, they can’t improve,” he said. “Development is costly, and without revenue, companies can’t reinvest. It’s a ‘chicken-and-egg’ scenario,” he said.

Another major risk of relying on foreign cybersecurity products is the potential for legally mandated backdoors in their home countries. He added that global solutions, while strong, are designed for worldwide markets, not Vietnam’s specific threat environment.

Push for autonomy

To build more autonomous and resilient cybersecurity infrastructure, and to spur the growth of Vietnam’s cybersecurity industry, the draft Law updates and expands on provisions from the Law on Cybersecurity 2018 and the Law on Cyberinformation Security 2015, adding rules that reflect today’s digital and economic realities.

Senior Lieutenant Nguyen Dinh Do Thi, Deputy Head of the Network Information Security Division at the Ministry of Public Security, said the draft aims to address new challenges in information technology (IT), especially the rise of breakthrough tools such as AI that are reshaping cyberspace and daily life.

The draft also seeks to clear longstanding legal bottlenecks and eliminate overlapping authority between ministries, creating a unified, transparent, and enforceable framework. A stronger legal foundation, he said, would help authorities better protect national sovereignty, security, and the rights of organizations and individuals online.

One of the most widely supported elements of the draft is its focus on national cybersecurity autonomy. The Law on Cybersecurity 2025 would encourage the research and development of Vietnamese-made cybersecurity products and solutions, while the government works to improve the business environment and support domestic companies as they develop and deploy them.

The Law also encourages agencies, organizations, and individuals to use locally-developed products and services. It requires cybersecurity monitoring systems to connect to the National Cybersecurity Center or provincial centers, enabling data sharing, early-warning capabilities, and a unified database of threats, vulnerabilities, and malware. This “big-picture view” is expected to improve early detection and reduce risks across the ecosystem.

From a business standpoint, Mr. Duc said the draft Law will not only be a tool to safeguard digital sovereignty but also a key driver for the market’s growth. Crucially, it mandates that at least 10 per cent of the annual IT budget for public-sector projects be allocated to cybersecurity

While the draft prioritizes domestic providers, it places strict emphasis on quality. Cybersecurity products, IT services, and connected devices must meet national technical standards to be sold in Vietnam. Once local solutions meet these benchmarks and prove their effectiveness at home, they will be better positioned to compete internationally.

Building a stronger framework

Associate Professor Viet agreed that strengthening national technological autonomy in cybersecurity requires a large enough market for “Made in Vietnam” products. But he also noted a paradox: “The market is huge, yet many companies keep building the same products, while several critical areas have no developers at all. This shows how limited market awareness still is.”

He suggested the government issue guidance on a comprehensive cybersecurity architecture, giving businesses a clearer view of market needs so they can diversify rather than crowd into the same niches. To ensure product quality, he said, solutions should have intellectual property rights, patents, proof-of-concept testing, and certifications from independent evaluators.

The Associate Professor also proposed allowing controlled network-data collection to identify attack patterns and develop detection rules, with provisions ensuring secure data transfer. He further recommended opening a legal pathway for white-hat hackers to run penetration tests and attack simulations to boost system “immunity”, as well as encouraging tools and products that support white-hat activities.

Mr. Tran Quoc Chinh, CEO of CMC Cyber Security, agreed that having two separate laws - the Law on Cyberinformation Security 2015 and the Law on Cybersecurity 2018 - created confusion for companies trying to identify the right legal grounds for compliance. Their consolidation, he said, will produce a unified and more transparent framework, easing investment and compliance while reducing regulatory overlap.

He also called for clearer rules on assessing cybersecurity maturity. At present, assessments are divided into five levels, with Levels 1-3 mostly self-assessed and confirmed by supervising agencies, and only Levels 4-5 requiring direct oversight from authorities. He recommended allowing licensed and certified cybersecurity service providers to independently verify Levels 1-3, with the government issuing criteria for post-assessment oversight. This would ease pressure on regulators, improve assessment quality, and ensure a more objective and transparent market.

Mr. Chinh also proposed developing a cybersecurity rating and benchmarking framework for organizations, similar to international models like CMMI. This would help units assess their own maturity and allow regulators to monitor capabilities by sector, enabling routine oversight with inspections triggered only when incidents occur.

Mr. Vu Ngoc Son, Head of the Research, Consulting, Technology Development, and International Cooperation Department at the NCA, said the draft Law on Cybersecurity 2025 marks a major step for Vietnam in building a modern legal framework to safeguard cyberspace, which is now deeply embedded in economic and social life. He believes the Law will create a unified, flexible framework aligned with global trends, protect digital sovereignty, strengthen defenses, ensure data security, reduce dependence on foreign technologies, and fuel the growth of Vietnam’s cybersecurity ecosystem.

VET-Ngo Huyen

Party General Secretary To Lam, State President Luong Cuong, and Prime Minister Pham Minh Chinh attend the congress.

The 11th National Patriotic Emulation Congress themed “Emulation for innovation, acceleration, and breakthrough to usher the nation into an era of strength, civilization, and prosperity,” opened in Hanoi December 27.

Party General Secretary To Lam, State President Luong Cuong, and Prime Minister Pham Minh Chinh, attend the Congress., State President Luong Cuong, and Prime Minister Pham Minh Chinh and many other senior officials were among  2,223 delegates attending the congress.

The congress listened to an important and wide-ranging keynote address delivered by Party General Secretary To Lam, which provided guidance in terms of ideology and action for the entire Party, people and armed forces in the new period, according to a report from the Vietnam News Agency.

It also looked back at achievements, shortcomings, root causes, and valuable lessons drawn from the emulation and commendation work and patriotic emulation movements in the past five years; and honored heroes of the People’s Armed Forces, heroes of labor in the “Doi moi” (renewal) period, emulators, and exemplary individuals and collectives from all sectors and regions nationwide.

Patriotic emulation movements across the country have produced landmark achievements in the Ho Chi Minh era, including defeating the COVID-19 pandemic, completing the elimination of substandard housing four months ahead of schedule, building more than 3,000 kilometers of expressways, and advancing science – technology, innovation, and digital transformation. Each movement stands as vivid proof of the nation’s will, intellect, and aspiration for strength and prosperity.

The congress also agreed on goals, orientations, key tasks, and solutions for the 2026–2030 period, seeking to mobilize the power of great national unity, ignite aspirations for national prosperity and happiness, and turn Vietnam into a developed country by the mid-21st century.

At the event, Prime Minister Pham Minh Chinh, who is also Chairman of the Central Council for Emulation and Commendation, launched the patriotic emulation movement for the 2026-2030 period with the theme “Emulation for innovation, acceleration, and breakthrough to usher the nation into an era of strength, civilization, and prosperity.”

The PM was quoted by the news agency as  calling on all compatriots, comrades, and soldiers nationwide, as well as Vietnamese living abroad - regardless of position or profession - to continue upholding patriotism, self-reliance, resilience, and the aspiration to excel, working together to successfully implement the 14th National Party Congress’s resolution, and to build a more prosperous, powerful, civilized, and happier Vietnam.

Mr. Pham Tat Thang, Vice Chairman of the Party Central Committee’s Commission for Information, Education, and Mass Mobilization, outlined post-congress communication priorities, calling on emulation and commendation councils nationwide, along with central and local media, to intensify coverage of patriotic emulation movements and commendation activities in the new period.

He asked for the continued effective coordination between media outlets and emulation - commendation bodies to promote the national patriotic movement, publicize the Party’s policies and the State’s laws, honor and amplify outstanding examples, and ensure heads of agencies fulfill their responsibility to identify, recognize, and reward individuals and collectives with exceptional achievements.

The congress concluded on the same day.

VNA-Van Nguyen

New routes will also be developed to support socio-economic growth.

Many expressways across Vietnam are scheduled for expansion in 2026, while new routes will be developed to support socio-economic growth, according to the Department for Roads of Vietnam.

Under the plan, the Phap Van–Cau Gie and Hanoi–Bac Giang expressways, along with several sections of the North–South Expressway, will be expanded. The Hoa Lac–Hoa Binh and Hanoi–Thai Nguyen expressways are also set to be widened.

Meanwhile, the Department for Roads of Vietnam will coordinate with local authorities to invest in the Ho Chi Minh City–Moc Bai and Tan Phu–Bao Loc expressways. Procedures will also be accelerated to kick off construction of the Go Dau–Xa Mat and Nha Trang–Da Lat expressways.

Efforts will also be stepped up to speed up construction on a series of key projects, including the Dau Giay–Tan Phu, Gia Nghia–Chon Thanh, Dong Dang–Tra Linh, My An–Cao Lanh, Bao Loc–Lien Khuong, Cho Moi–Bac Kan, Ho Chi Minh City–Chon Thanh, and Ho Chi Minh City–Trung Luong–My Thuan expressways.

Priority will be given to expressway projects that have fallen behind the operational schedules originally set for 2025, the department said.

VnEconomy-Đan Tiên

Vietnam ranking 44th out of 139 economies in the Global Innovation Index and 55th among 100 countries in the Startup Ecosystem Index in 2025.

Vietnam’s science and technology sector generated total revenue of more than VND5.4 quadrillion (US$206 billion) in 2025, marking a year-on-year increase of 25% and exceeding the annual target by 22%, according to the Ministry of Science and Technology.

The sector contributed approximately VND1.44 quadrillion ($54.7 billion) to the national GDP, up 35% compared to 2024, the ministry reported at a conference on December 26 reviewing the sector’s performance and outlining tasks for 2026.

Vietnam ranked 44th out of 139 economies in the Global Innovation Index and 55th among 100 countries in the Startup Ecosystem Index in 2025. The country is now home to around 4,000 startups, including two unicorns and dozens of firms approaching unicorn status.

Digital infrastructure and postal services continued to serve as vital pillars of the economy. Revenue from postal services was estimated at VND87 trillion (more than $3.3 billion), up 20% year-on-year and equivalent to 106.6% of the annual target.

Telecommunications revenue reached VND176.56 trillion (more than $6.7 billion), representing an 8% increase from the previous year. Vietnam’s internet speed also saw significant improvements, ranking among the leading countries in the region and within the global top 10–15, according to international assessments.

Meanwhile, more than 80,000 enterprises have operated in the digital technology industry.  More than 2,100 of which have expanded their operations globally. 

VnEconomy-Hạ Chi

It is expected to contribute to building a modern, transparent, responsible, and sustainable agricultural sector.

Vietnam's farm produce traceability system made debut on December 26, which is expected to contribute to building a modern, transparent, responsible, and sustainable agricultural sector.

The system is a digital platform that will record, manage, and look up information about origins of agricultural, forestry, and fishery products throughout the production, processing, transportation, and circulation processes, according to Mr. Huynh Tan Dat, Director of the  Department of Plant Protection under the Ministry of Agriculture and Environment.

Through the system, consumers can check transparent information about products; and regulatory agencies have a basis for monitoring, statistics, and tracing when necessary, thereby enhancing transparency, ensuring food safety, and strengthening the reputation of Vietnamese agricultural products in both domestic and international markets.

The system has three core components: a traceability platform for consumers, farmers and supply chain companies; an interface for solution providers to update agricultural origin data, and a monitoring dashboard for regulatory authorities to oversee product flows.

With the system, the ministry is pursuing three key goals, including effectively following a durian traceability pilot as a foundation for scaling to other commodities, particularly food items. It also wants to increase consumer awareness while increasing the responsibility of regulators and businesses to ensure quality and safety for ministry-labelled goods. The third goal is to spread the adoption of science and technology, real-time tracking and dissemination of updated Party and State policies on traceability.

In the pilot term, scheduled from January 1 to June 30, 2026, five selected companies will engage in comprehensive testing throughout the production-to-supply chain, with electronic authentication labels issued and affixed to qualifying durian shipments.

VnEconomy-Chu Khôi

The metro line will span 42 km, starting at Thu Thiem Station (HCMC) and ending at Long Thanh Station (Dong Nai).

The Ho Chi Minh City (HCMC) People’s Committee has submitted a proposal to the City People’s Council to designate the Committee as the competent authority for the implementation of the Thu Thiem – Long Thanh urban railway project.

The project is planned as a Public-Private Partnership (PPP) and will run through both HCMC and Dong Nai Province.

The metro line will span 42 km, starting at Thu Thiem Station (HCMC) and ending at Long Thanh Station (Dong Nai). The route is expected to include approximately 20 stations and one depot for operations and maintenance. The project is scheduled for implementation from 2025 to 2031.

The total investment for the project is estimated at approximately VND84.75 trillion (over $3.2 billion).

According to current plans, Long Thanh International Airport is expected to begin commercial operations by mid-2026. However, the existing transport infrastructure connecting the new airport to central HCMC remains limited.

Consequently, the Government Steering Committee for Key National Railway Projects, chaired by the Prime Minister, has identified the transport link between Tan Son Nhat International Airport and Long Thanh International Airport as a high-priority investment for the current period.

The project is regarded as a strategic transport solution between HCMC and Dong Nai, aimed at enhancing regional connectivity and significantly reducing travel time for passengers between the hai localities. Crucially, the line will also meet the transport demands of foreign experts and investors working at the Vietnam International Financial Center in HCMC.

The City People’s Committee noted that early investment in a completed urban railway system will not only address growing passenger demand and alleviate pressure on the currently overloaded road network but also open up new development potential for the city.

Vneconomy-Thanh Thủy

The enterprise is responsible for ensuring smooth, uninterrupted operations and full compliance with all relevant legal regulations.

The Ministry of Construction has issued Decision No. 2405/QD-BXD, granting a business license for Phu Quoc International Airport to Sun Airport Joint Stock Company, a subsidiary of Sun Group.

Prior to this, on December 25, 2025, the Civil Aviation Authority of Vietnam (CAAV) issued Airport Operation Certificate No. 6645/GCNKT-CHK to the Phu Quoc International Airport Branch of Sun Airport Joint Stock Company.

According to the business license and operation certificate, starting from 12am on January 1, 2026, the company will officially become the new operator, authorized to manage and operate Phu Quoc International Airport. The enterprise is responsible for ensuring smooth, uninterrupted operations and full compliance with all relevant legal regulations.

Previously, the Provincial People's Committee decided to lease over 800 hectares of land to Sun Airport Joint Stock Company to implement the Phu Quoc International Airport expansion project. The project aims to increase the phase-one capacity to 20 million passengers per year and is classified as a priority project in preparation for the 2027 APEC Summit.

According to the plan, key components including a second runway, International Terminal T2, a VIP terminal, apron expansion, and auxiliary infrastructure systems are currently being implemented under government directives. These developments aim to meet the growing demand for passenger traffic and fulfill the requirements for hosting APEC 2027 in Phu Quoc.

Vneconomy-Tuấn Khang

Legacy has become the keyword as branded real estate developers consider a new definition of luxury.

Vietnam’s branded real estate market is entering one of its most consequential stages yet, as soaring prices, surging demand, and a new wave of large-scale developments push the industry towards a more sophisticated, globally-aligned future. At Meet the Experts Hanoi 2025, leading developers and operators gathered to discuss a common message: the country’s next era of branded luxury residences will not be defined by how fast projects sell, but by how well they endure.

Developers bet big

As the market moves into one of its most bullish phases in years, major developers racing to bring large-scale supply to meet demand shows little sign of cooling. For Mr. Minh Nguyen, Deputy CEO of the MIK Group Vietnam, the past two years have been defined by a clear imbalance. “It’s basically been a seller’s market,” he said. “Everything we’ve launched has been very successful - selling out within a couple of weeks.”

The MIK Group delivered around 10,000 residential units last year, all absorbed by the market, and is planning a pipeline five to seven-times that level this year, reflecting confidence not only in demand but also in the purchasing power of local buyers.

Prices have surged. New apartment launches in Hanoi, once averaging around $3,000 per sq m, now start from no less than VND100 million ($3,845) after jumping nearly 30 per cent in just the last 12 months. This momentum is encouraging even more aggressive expansion from major players. “Other big developers like Vingroup, Sungroup, and Masterise are even more bullish,” Mr. Minh noted, pointing to a broader consolidation in which large developers are acquiring expansive land banks to prepare large-scale townships.

But not all players are relying on volume. Kusto Home is taking a more selective approach by focusing on quality instead of quantity. It will launch its next boutique project in Hanoi in December, a move Mr. Sergey Nam, CEO of Kusto Home (Vietnam), described as well-timed amid strong sentiment returning to the market.

Optimism is just as strong in the high-end rental and branded residence segment. Vietnam’s hospitality market is in a boom year, according to Ms. Venessa Koo, Vice President of Business Development at The Ascott Limited, who highlighted surging visitor numbers and a growing global spotlight: “For the first time, Vietnam is really in the spotlight globally, and doing very well,” she said.

For operators like Ascott, branded residences have become an increasingly powerful model. “It’s an excellent product to give confidence to buyers,” she continued. Strong developers are able not only to finish projects reliably, but to reinvest more into final stages thanks to robust pre-sales. Ms. Koo noted that relaxing visa rules and easing the 50-year land tenure limit for foreigners could unlock an even larger wave of international demand, particularly from second-home buyers.

The luxury beachfront market, however, is recovering more cautiously. According to Mr. Michael Piro, Co-CEO of Indochina Capital and Co-Founder and CEO of Wink Hotels, the segment is preparing for a comeback driven by economic growth and rebounding tourism. But he expects a more mature cycle than the condotel boom of 2016-2018, when developers “sold second homes like financial products.”

Still, land tenure remains a challenge. If Vietnam allowed freehold coastal ownership, Mr. Piro argues, “homes we sell for $5 million would be going for $20 million.” Even so, he believes Vietnam remains globally competitive, offering multi-million-dollar villas at a fraction of international benchmarks, and attention to detail will bring success to developers.

Beyond opulence

As Vietnam’s property market accelerates, developers and designers are now asking a deeper question: what does luxury really mean in 2025 and beyond? The answer, according to industry leaders, is shifting rapidly - from flashy finishes towards legacy, scarcity, quiet design, and a new generation of shared amenities.

According to Mr. Nam, the shift is driven by increasingly discerning buyers. “Luxury isn’t just about showing beautiful pictures or high-end materials anymore,” he said. “It’s about legacy. You don’t buy a luxury property every day, so we want to build something that lasts generations.” Scarcity is also becoming part of the value proposition. That is why, he added, Kusto is spending more time crafting every detail to ensure strong secondary-market value decades after launch.

On the design front, tastes are evolving towards understated luxury. “The next level of luxury is quiet,” said Mr. Thien Duong of GroupGSA. Designers are now exploring materials that age beautifully, creating the real estate equivalent of a vintage watch: timeless, valuable, and full of character.

The shift is also transforming the amenity landscape. “We are in an amenity race,” said Mr. Piro, noting that a pool and a gym are no longer enough, and wellness is going to be central. Today’s buyers track their sleep, stress and calories; tomorrow’s developments must support that lifestyle through holistic wellness ecosystems rather than ornamental facilities.

This evolution comes with operational challenges. Mr. Piro recalled the backlash when Hyatt Regency Da Nang introduced management fees far above the norm. “People said, ‘You’re crazy’,” he continued. “But once they experienced the facilities, no one complained again. Buyers will pay more if you deliver what you promise.”

For Ascott, the definition of “right amenities” varies by project type. “A resort needs one set of facilities; a city branded residence needs another,” said Ms. Koo. Vietnam’s prevalence of sale-and-leaseback models complicates this further, as some amenities shift to hotel operations while others remain the owners’ responsibility.

Across the board, industry leaders agree: Vietnam’s next phase of luxury will be defined by quiet confidence, timeless design, thoughtful amenities, and a stronger focus on wellness and longevity - a significant step beyond the flashier developments of the past decade.

Facing the next test

Vietnam’s real estate boom has created an environment where nearly every launch sells out, but industry insiders warn that this window will eventually close, forcing a new era of genuine competition and innovation.

For Mr. Nam, the market’s success has bred complacency. “Developers in Vietnam have become a little spoiled,” he said. “Everything you launch sells. But we should be thinking about legacy, about products judged by their resale value, not just by how quickly they sell on day one.” He also noted that Vietnam is uniquely positioned to learn from success and failure in other markets, from the heritage constraints of Europe to the rapid, flashy builds of Dubai.

Mr. Piro added that the current momentum won’t last forever, and a tougher market may be exactly what Vietnam needs. “The music will eventually stop,” he said. “That’s when we’ll see real innovation. I’ll be trying to take your buyer, you’ll be trying to take mine - and that pushes all of us to raise our game.”

Looking ahead, supply gaps could shape the next stage. In Hanoi, especially, the shortage of high-end homes is acute. “There’s not enough supply in the luxury segment,” said Mr. Minh. With landed homes now reaching $20,000 to $30,000 per sq m, in some cases surpassing Bangkok, developers are preparing to introduce more sophisticated products, from luxury homes to branded residences, to match both the price point and rising expectations.

There’s no doubt that Vietnam’s next stage will be driven not by the ease of selling but by the pressure to differentiate. As the market matures, the winners will be those who build for longevity, refine their design philosophies, and innovate beyond the hype cycle.

VET-Linh Tong