The project has a preliminary total investment capital estimated at nearly $448 million.

The People's Committee of southern Dong Nai province has approved  an investor's proposal for the Long Hung Bridge project (also known as Dong Nai 2 Bridge), which will connects the province and Ho Chi Minh City, to be implemented under the Public-Private Partnership (PPP) form.

The investor  is a consortium comprising Construction Corporation No. 1 - JSC (CC1), and Southern Infrastructure and Energy JSC. 

Previously, on November 10, the Provincial People's Council passed a resolution assigning the Provincial People's Committee as the competent authority to implement the investment project for the construction of Long Hung Bridge.

The bridge project and its approach roads have a total route length of 11.8 km, with the main bridge section spanning 2.34 km.

The approach roads on both sides are designed according to urban main road standards, with a design speed of 80 km/h. The cross-section consists of 6 motorized vehicle lanes and 2 lanes for rudimentary vehicles.

The project's starting point intersects with Ho Chi Minh City's Ring Road 3 at the Go Cong interchange in Long Phuoc Ward, Ho Chi Minh City, and the ending point intersects with National Highway 51 in Tam Phuoc Ward, Dong Nai Province.

The project has a preliminary total investment of VND11,758 billion (nearly $448 million) and is divided into three component projects.

Vneconomy-Hoài Niệm

Exports to CPTPP markets, mainland China, Hong Kong (China), the EU, and Brazil increased strongly, while the US market saw a slight decline of nearly 5%.

Vietnam's seafood exports continue to surge and are expected to set a new record in 2025 with a turnover of $11.2 – 11.3 billion, driven by growth in shrimp and pangasius, according to Radio the Voice of Vietnam.

The radio quoted the Vietnam Association of Seafood Exporters and Producers (VASEP) as reporting that seafood exports in November 2025 reached nearly $990 million, a 6.6% increase compared to the same period last year, showing a positive result given the context of a globally volatile market.

Many key product groups recorded impressive growth. Shrimp reached over $385 million, up 11.7%, with both whiteleg shrimp and lobster achieving double-digit growth. Pangasius exports reached nearly $197 million, up 9.7%; while squid, marine fish, and mollusks continued their trend of improvement.

In terms of markets, exports to CPTPP markets, mainland China, Hong Kong (China), the EU, and Brazil increased strongly, while the US market saw a slight decline of nearly 5%.

Cumulatively for the first 11 months, seafood exports reached over $10.5 billion, a 14.6% increase compared to the same period in 2024. Notably, shrimp continues to be the primary growth driver with $4.31 billion (+21.2%), followed by pangasius with over $2 billion (+9%), and tuna at $855.7 million. Value-added product groups maintained double-digit growth. The CPTPP is currently the largest market, accounting for 27.2% of the total and growing by 24.3%.

Ms. Le Hang, VASEP Deputy General Secretary, assessed that the trend of accelerating shipments in November demonstrates the proactive approach of enterprises ahead of the expected implementation of new import regulations by the US. Enterprises are temporarily cautious about signing new orders while awaiting official guidance from the US side. However, shrimp exports are expected to remain stable thanks to strong demand in Japan, the EU, and the CPTPP.

Entering December, exports are forecast to dip slightly due to seasonal factors and cautious sentiment regarding trade with the US market.

Nevertheless, the outlook for the full year of 2025 remains very positive. Total seafood export turnover is forecast to reach $11.2 – 11.3 billion, an all-time high.

VOV-PHam Long

The Ministry of Finance must publicly disclose the disbursement rates of each agency and locality on mass media on a weekly basis to enhance transparency, tighten discipline, and boost disbursement in the final sprint of the year.

Prime Minister Pham Minh Chinh on December 6 signed Official Dispatch No. 237/CĐ-TTg, directing ministries, sectors, and localities to accelerate the disbursement of public investment capital during the remaining time of the year.

The dispatch noted that public investment disbursement in 2025 has achieved positive results. The estimated disbursement rate for the first 11 months reached 60.6% of the plan assigned by the Prime Minister, representing an increase of 58.2% in the rate and VND155.7 trillion (over $5.9 billion) in absolute value, compared to the same period in 2024.

To accelerate progress and achieve the goal of disbursing 100% of the 2025 public investment plan, the Prime Minister requires ministers, heads of central agencies, and Chairpersons of provincial and city People's Committees to take comprehensive responsibility for implementation. Promoting public investment is to be considered a priority political task and a key criterion for evaluating the performance of officials.

Concurrently, the dispatch requires ministries, sectors, and localities to quickly allocate the remaining capital and speed up the progress of key projects. Simultaneously, they must proactively handle procedures, remove bottlenecks, and implement clear and specific mechanisms for assignment and coordination regarding authority and responsibility among agencies in finalizing project investment procedures.

Furthermore, units must establish monthly disbursement plans, assign leaders to monitor specific projects, and reallocate capital from slow-moving projects to those capable of rapid implementation. On-site inspections and supervision of contractors must be strengthened.

Regarding the Ministry of Finance, the Government requires the application of digital transformation to track and monitor progress. The ministry must publicly announce the disbursement rates of each agency and locality on mass media on a weekly basis to enhance transparency, tighten discipline, and boost disbursement in the final sprint of the year.

At the same time, the ministry must immediately report cases of delay and propose management measures suitable to the practical situation.

Vneconomy-Hoàng Sơn

Much remains to be done for Vietnam to reach its ambitious goal of welcoming 25 million foreign visitors over the course of 2025, though confidence is in plentiful supply.

Vietnam’s tourism sector is pursuing an ambitious target in 2025 of welcoming 25 million international visitors, and is now stepping up efforts to draw in more travelers from now to the end of the year - traditionally the “golden season” for foreign arrivals.

Building momentum

According to the National Statistics Office at the Ministry of Finance, Vietnam welcomed 1.73 million international visitors in October, for an increase of 13.8 per cent compared to September and 22.1 per cent year-on-year. The country welcomed nearly 17.2 million international arrivals in the first ten months, marking a 21.5 per cent rise over the same period of 2024 and a strong indication of the sector’s ongoing recovery and growing appeal.

Revenue from accommodation and food services in the first ten months has been estimated at VND695.1 trillion ($26.4 billion), accounting for 12 per cent of total retail sales and consumer service revenue and marking an increase of 14.6 per cent compared to the same period last year. Meanwhile, travel and tourism services generated an estimated VND77.4 trillion ($2.94 billion), representing 1.4 per cent of total retail and service revenue and rising 19.8 per cent year-on-year.

Mr. Nguyen Trung Khanh, Chairman of the Vietnam National Authority of Tourism (VNAT) at the Ministry of Culture, Sports and Tourism, emphasized that the sharp increase in international visitors in recent months reflects the positive impact of the country’s visa-exemption policies and the effective implementation of tourism promotion and marketing programs in key source markets such as Russia, Japan, Italy, and South Korea. “These proactive efforts have significantly strengthened Vietnam’s position as a welcoming and attractive destination for global travelers,” he said.

In addition to the steady rise in international visitor numbers, Vietnam’s tourism sector has also achieved remarkable success in promotion and branding over the past year. At the World Travel Awards in October, Vietnam once again made an impression, winning two prestigious titles: “Asia’s Leading Destination” and “Asia’s Leading Heritage Destination 2025”. Several Vietnamese localities, including Ho Chi Minh City, Hanoi, and Hoi An ancient town in central Da Nang city, and tourism companies also received international recognition across multiple award categories, reaffirming the country’s growing reputation as one of Asia’s most captivating destinations.

As the year draws to a close, Vietnam’s tourism sector is witnessing robust momentum in international arrivals, coinciding with the peak travel season. The final months of the year promise to be vibrant and festive, filled with major events and celebrations such as Christmas, New Year’s Eve, and a wide range of cultural and entertainment activities around the country.

Ms. Nguyen Nguyet Van Khanh, Marketing Director at Vietravel, said the number of international travelers booking services for the year-end season has increased by 125 per cent compared to the same period last year. The strongest growth comes from markets such as China, Europe, English-speaking countries, and especially India, which is emerging as a key source of inbound tourists.

Similarly, Ms. Nguyen Hoai Thu, Director of Saigontourist Travel, Hanoi Branch, reported that during the summer season of 2025 alone the number of European tourists booking long-stay tours to Vietnam rose by over 25 per cent year-on-year. “We are developing more high-end tourism products that connect heritage sites, coastal and island destinations, and modern urban experiences,” Ms. Thu explained. “Our goal is to extend visitors’ length of stay and increase the likelihood that they will return to Vietnam in the future.”

Mr. Bui Thanh Tu, Marketing Director at BestPrice Travel, said his company has recorded 130 per cent growth compared to the same period of 2024 and is aiming to reach 150 per cent by the end of the year. “Travel preferences among visitors to Vietnam have become increasingly diverse: approximately half choose leisure and resort vacations, 20 per cent prefer exploration and adventure tours, another 20 per cent seek cultural and historical experiences, and the remaining 10 per cent are here for medical tourism or wellness retreats,” he noted.

He also emphasized that this diversity in demand presents both an opportunity and a challenge for Vietnamese tourism companies to continue innovating their products and improving service quality to meet the evolving expectations of international travelers.

Chasing goals

Though Vietnam’s tourism sector has been maintaining strong growth momentum, experts have emphasized that achieving the ambitious goal of welcoming 25 million international visitors this year will require even greater effort and coordination across the sector.

Mr. Vu Quoc Tri, Deputy Secretary-General of the Vietnam Tourism Association, noted that Vietnam must accelerate its growth pace to reach the target. “Welcoming around 10 million international visitors in the closing months of the year is no small challenge,” he said, pointing out that recent storms and natural disasters have severely affected several key local destinations. This calls for a comprehensive approach, combining promotion, infrastructure readiness, and close collaboration between local authorities, travel businesses, and service providers to maintain Vietnam’s attractiveness among international travelers.

Mr. Pham Van Thuy, Deputy Chairman of VNAT, acknowledged that the goal of welcoming 25 million international visitors this year remains a significant challenge but also expressed confidence that the target is attainable, provided that the sector accelerates its efforts and focuses on implementing key strategic solutions over the remaining months of the year. The top priority now is to develop distinctive tourism products that reflect Vietnam’s unique cultural identity while meeting the evolving preferences of modern travelers.

He also highlighted the importance of intensifying tourism promotion both domestically and internationally, particularly by leveraging digital technology and multimedia communication to amplify Vietnam’s image as a vibrant and welcoming destination. “At the same time, it is crucial to continue refining our mechanisms and policies, especially those related to visa facilitation, to make travel to Vietnam easier and more appealing for international tourists,” Mr. Thuy added.

Reports also show that local destinations around Vietnam are actively implementing initiatives to attract visitors during the year-end peak season. Ho Chi Minh City is focusing on expanding river tourism products, while northern Quang Ninh province, home of Ha Long Bay, is organizing a series of festivals and tourism stimulus packages to boost visitor numbers. Da Nang, meanwhile, has launched new direct flights to and from Singapore, which are expected to significantly enhance international arrivals to the central city.

From a business perspective, Ms. Thu said her company has set an ambitious goal of achieving at least 20 per cent annual growth in visitor numbers during the 2025-2026 period. “Our strategic focus is to develop a chain of high-quality, specialized tourism products that combine heritage, leisure, and cultural experiences,” she explained. “This approach aims to encourage travelers to extend their stays and explore Vietnam more deeply.”

As Vietnam’s tourism sector accelerates towards its ambitious goals, the roadmap ahead is defined by both opportunities and determination. With synchronized solutions spanning product innovation, connectivity, digital transformation, and policy support, Vietnam is not only recovering but also redefining its position as a leading tourism destination in Asia.

VET-Anh Hoang

This event marked an important milestone for Vietnamese cinema in the international market, and received high praise from the French public and media...

The opening ceremony of the "Vietnamese Cinema Week - Journey of Light" took place on December 5 at Le Grand Rex in Paris, the largest cinema in Europe and a cultural symbol of the French capital.

Co-organized by the Vietnam Film Development Association (VFDA) and AVSE Global - the Association of Vietnamese Scientists and Experts, under the patronage of the Vietnamese Embassy in France, the event attracted over 2,700 attendees from 23 countries, creating a vibrant cultural and artistic exchange space among the French public, the Vietnamese community, and lovers of Vietnamese cinema in Europe. The event also saw the participation of artists from Vietnam, France, and other international figures.

Mr. Dinh Toan Thang, the Vietnamese Ambassador to France expressed hope that this would be an unforgettable mark on the journey of Vietnamese cinema and cultural exchange between Vietnam and France.

Dr. Ngo Phuong Lan, Chairwoman of the VFDA highlighted the special significance of the program taking place in 2025 which marks the 50th anniversary of the Liberation of the South and National Reunification (April 30, 1975–2025) and the 80th National (September 2, 1945 - 2025), coinciding with the 130th anniversary of the Lumière brothers' first public showcase of their Cinématographe on December 28, 1895, in Paris.

The highlight of the program was the screening of the action film “Tu chien tren khong” (Hijacked), inspired by the 1978 hijacking incident.

The week-long event runs until December 12, featuring 17 standout films, a photo exhibition, artist exchanges, and a Vietnam–France cinema cooperation seminar, with an expected 5,000 visitors.

VnEconomy-Gia Huy

The processing and manufacturing industry continues to affirm its leading position, acting as the pillar for Foreign Direct Investment (FDI) attraction.

As of November 30, total registered foreign investment in Vietnam (including newly registered capital, adjusted capital, and capital contributions/share purchases) reached $33.69 billion, an increase of 7.4% compared to the same period last year, reported the General Statistics Office of Vietnam.

Regarding the structure of newly registered capital, the past 11 months recorded 3,695 licensed projects with a total registered capital of $15.96 billion. Notably, while total newly registered capital decreased slightly by 8.2% year-on-year, the number of projects surged by 21.7%. This demonstrates that foreign investor interest remains very high, particularly regarding the increase in small and medium-sized projects with high spillover effects.

The processing and manufacturing industry continues to affirm its leading position, acting as the pillar for Foreign Direct Investment (FDI) attraction. Specifically, within the total newly registered capital, this sector accounted for $9.17 billion (equivalent to 57.5%). When combining both newly registered and adjusted capital, total investment flowing into processing and manufacturing reached $16.52 billion, accounting for 59.9% of the total capital. This is a positive signal indicating that the quality of FDI inflows is aligning with the industrialization and modernization goals set by Vietnam.

Ranking second was real estate business. This sector attracted $3.14 billion in newly registered capital (accounting for 19.7%). If adjusted capital is included, total investment in real estate reached $5.72 billion, accounting for 20.7%. The remaining sectors accounted for 19.4%, with $5.34 billion.

Regarding investment partners, among the 88 countries and territories with newly licensed projects, Singapore continued to lead with $4.29 billion, accounting for 26.9%. Next was mainland China with $3.40 billion (21.3%), affirming that the supply chain shift trend is still proceeding strongly, which was followed by Hong Kong (China), Japan, and a new bright spot from Europe—Sweden, with $1.0 billion

A bright spot that cannot be overlooked in the FDI picture for the first 11 months of 2025 is the strong surge in adjusted capital. There were 1,318 projects licensed in previous years that registered to increase capital, with a total additional value of $11.62 billion, a 17.0% increase compared to the same period last year. The fact that existing investors are continuously expanding their production and business scale is the clearest testament to their long-term confidence in the macroeconomic stability and growth potential of the Vietnamese market.

Additionally, capital contribution and share purchase activities (MA) also remained vibrant with 3,225 transactions, reaching a total value of $6.11 billion, up 50.7% over the same period.

Vneconomy-Anh Nhi

Over 41 more border gates have been added to the list of ports that allow foreigners to enter and exit Vietnam with e-visa.

The Government has supplemented 41 border gates to the list of ports that allow foreigners to enter and exit Viet Nam by e-visa, bringing the total ports to 83, the Government News quoted the Government Resolution No. 389/NQ-CP dated December 2, 2025, as reporting.

Accordingly, additional ports for e-visa include:

I. List of air border gates:

1. Long Thanh International Airport (once coming into operation);

2. Gia Binh International Airport (once coming into operation);

3. Vinh International Airport; and

4. Chu Lai International Airport.

II. List of land border gates:

1. Dong Dang border gate (railway) in Lang Son province;

2. Lao Cai border gate (railway) in Lao Cai province;

3. Tra Linh border gate in Cao Bang province;

4. Long Sap border gate in Son La province;

5. Nam Giang border gate in Da Nang City;

6. Le Thanh border gate in Gia Lai province;

7. Binh Hiep border gate in Tay Ninh province;

8. Thuong Phuoc land and waterway border gate in Dong Thap province;

9. Dinh Ba international border gate in Dong Thap province;

10. Tan Nam international border gate in Tay Ninh province; and

11. Thanh Thuy international border gate in Tuyen Quang province.

III. List of sea border gates

1. Van Gia Seaport in Quang Ninh province;

2. Diem Dien Seaport in Hung Yen province;

3. Hai Thinh Seaport in Ninh Binh province;

4. Ninh Binh Seaport in Ninh Binh province;

5. Cua Lo-Ben Thuy Seaport in Nghe An province;

6. Son Duong Seaport in Ha Tinh province;

7. Giang Seaport in Quang Tri province;

8. Hon La Seaport in Quang Tri province;

9. Cuu Viet Seaport in Quang Tri province;

10. Thuan An Seaport in Hue City;

11. Ky Ha Seaport in Da Nang City;

12. Sa ky Seaport in Quang Ngai province;

13. Vung Ro Seaport in Dak Lak province;

14. Ca Na Seaport in Khanh Hoa province;

15. Ninh Chu Seaport in Khanh Hoa province;

16. Phu Quy Seaport in Lam Dong province;

17. Lien Huong Seaport in Lam Dong province;

18. Ben Luc Seaport in Tay Ninh province;

19. Dong Thap Seaport in Dong Thap province;

20. Soai Rap – Hiep Phuoc Seaport in Dong Thap province;

21. My Thoi Seaport in An Giang province;

22. Hon Chong Seaport in An Giang province;

23. An Thoi Seaport in An Giang province;

24. Truong Long Hoa Seaport in Vinh Long province;

25. Giao Long Seaport in Vinh Long province; and

26. Nam Can Seaport in Ca Mau province.

Once being granted an e-visa, a foreigner can enter and exit Vietnam on multiple occasions within 90 days.  These changes have made it easier for international tourists to visit Vietnam and have enhanced the country's tourism attractiveness.

In addition, a specific visa exemption policy is applied to Phu Quoc Island off the coast of An Giang province in the Mekong Delta, allowing foreign tourists to stay for up to 30 days without a visa, provided they remain on the island throughout their stay.

As part of the 2025 national tourism stimulus program, the Government adopted Resolution No. 11/NQ-CP to grant conditional visa exemptions to nationals of Poland, the Czech Republic, and Switzerland. These visitors will benefit from a visa-free stay of up to 45 days if they travel under programs launched by authorised Vietnamese travel agencies. The policy is effective from March 1 to December 31, 2025.

In addition to the aforesaid ports, foreigners using e-visas can enter and exit Vietnam through the following international border gates designated by the Government:

Land border gates:

1. Bo Y international border gate, Quang Ngai province (formerly Kon Tum province);

2. Cha Lo international border gate, Quang Trij province (formerly Quang Binh province);

3. Cau Treo international border gate, Ha Tinh province;

4. Huu Nghi international border gate, Lang Son province;

5. Ha Tien international border gate, An Giang province (formerly Kien Giang province);

6. Lao Bao international border gate, Quang Tri province;

7. Lao Cai international border gate, Lao Cai province;

8. La Lay international border gate, Quang Tri province;

9. Moc Bai international border gate, Tay Ninh province;

10. Mong Cai international border gate, Quang Ninh province;

11. Nam Can international border gate, Nghe An province;

12. Na Meo international border gate, Thanh Hoa province;

13. Vinh Xuong international land and river border gate, An Giang province;

14. Tinh Bien international border gate, An Giang province;

15. Tay Trang international border gate, Dien Bien province; and

16. Xa Mat international border gate, Tay Ninh province.

Air border gates:

1. Cat Bi Airport Border Gate;

2. Cam Ranh Airport Border Gate;

3. Can Tho Airport Border Gate;

4. Da Nang Airport Border Gate;

5. Noi Bai Airport Border Gate;

6. Phu Quoc Airport Border Gate;

7. Phu Bai Airport Border Gate;

8. Tan Son Nhat Airport Border Gate;

9. Van Don Airport Border Gate;

10. Tho Xuan Airport Border Gate;

11. Dong Hoi Airport Border Gate;

12. Phu Cat Airport Border Gate; and

13. Lien Khuong Airport Border Gate.

Sea border gates:

1. Chan May Port Border Gate, Hue City (formerly Thua Thien Hue Province);

2. Cam Pha Port Border Gate, Quang Ninh Province;

3. Da Nang Port Border Gate, Da Nang City;

4. Duong Dong Port Border Gate, An Giang Province (formerly Kien Giang Province);

5. Dung Quat Port Border Gate, Quang Ngai Province;

6. Hon Gai Port Border Gate, Quang Ninh Province;

7. Hai Phong Port Border Gate, Hai Phong City;

8. Nghi Son Port Border Gate, Thanh Hoa Province;

9. Nha Trang Port Border Gate, Khanh Hoa Province;

10. Quy Nhon port border gate, Gia Lai province (formerly Binh Dinh province);

11. Ho Chi Minh City Port Border Gate, Ho Chi Minh City;

12. Vung Ang Port Border Gate, Ha Tinh Province; and

13. Vung Tau Port Border Gate, Ho Chi Minh City (formerly Ba Ria – Vung Tau province).

VGP-Khanh Van

Many multinational corporations are shifting their supply chains and seeking new strategic destinations.

Vietnam stands before a massive opportunity to become the trade "gateway" of Southeast Asia, emphasized Prof. Tran Ngoc Anh from Indiana University (USA) at the Vietnam Economic - Financial Forum 2025 on December 5.

Specifically, this opportunity arises from the fact that many multinational corporations are shifting their supply chains and seeking new strategic destinations. 

One of the clearest evidences of this is the recent announcement by Amazon—one of the world's largest technology conglomerates operating in e-commerce, cloud computing (AWS), smart technology, AI, and logistics—selecting Vietnam as a location to launch its Amazon Global Logistics (AGL) program.

Notably, Vietnam is only the second country in the world (after China) chosen by Amazon to operate the AGL program globally. Furthermore, the US e-commerce giant has set a goal to transform Vietnam into the e-commerce export hub of Southeast Asia by 2026.

Citing this example, Prof. Anh suggested that if Vietnam can successfully cooperate with major corporations like Amazon, it will present a "huge opportunity for the Vietnamese economy to become an e-commerce export stronghold for Southeast Asia."

This would create a strong spillover effect on trade activities and pave the way for domestic enterprises to participate more deeply in the global supply chain, especially in the current context where a large portion of Vietnam's export value still relies heavily on the FDI sector.

However, according to the professor, these new opportunities also require Vietnam to prepare thoroughly in order to turn this potential into breakthrough successes.

First, it is necessary to accelerate investment in and upgrades to infrastructure—including roads, airports, seaports, and warehousing—to ensure seamless connectivity and meet growing transport demands.

Second, energy development must be promoted, particularly clean and stable energy sources, to power logistics hubs, manufacturing plants, and large-scale e-commerce operations.

Third, institutional reform should continue to be strengthened, especially regarding tax, customs, and administrative procedures, in order to reduce compliance costs and create the most favorable conditions for businesses.

Fourth, focus should be placed on investing in enterprises and the business environment, helping Vietnamese businesses enhance their competitiveness so they can integrate more deeply into the value chains of major corporations like Amazon and other global groups.

Fifth, environmental protection and land planning management must be implemented strategically and effectively to ensure sustainability and secure long-term competitive advantages for the economy.

Finally, investing in human capital is a prerequisite. Vietnam needs to step up the training of a high-quality workforce in logistics, technology, supply chain management, and e-commerce to fully capitalize on these new opportunities.

“These are crucial factors for Vietnam to achieve its high growth targets in 2026 and the periods ahead. I am confident that Vietnam can seize this opportunity to become a global trade gateway and strengthen its role in the global supply chain,” Prof. Anh said.

VNeconomy-Phương Nhi

According to the verification agency, all three amendments proposed by the Government are provisions that were recently revised in the 2024 Value Added Tax Law, which was passed at the 8th session and took effect on July 1, 2025.

The draft law amending and supplementing certain articles of the Law on Value Added Tax (VAT), submitted to the National Assembly at this session, continues to spark mixed opinions.

In a recently released preliminary verification report, the National Assembly's Economic and Financial Committee stated that amending the law at this time is unnecessary. The Committee argued that the proposal lacks a comprehensive assessment basis and poses potential risks of budget revenue loss and invoice fraud regarding VAT refunds.

According to the verification agency, all three amendments proposed by the Government are provisions that were recently revised in the 2024 Value Added Tax Law, which was passed at the 8th session and took effect on July 1, 2025. While gathering and synthesizing feedback from enterprises during the law's implementation is necessary to find solutions to resolve "bottlenecks" caused by legal regulations, caution is required.

However, tax policies always have a broad and multidimensional impact on related parties—some benefit while others are adversely affected. Therefore, tax regulations must align with sound principles and policies without creating loopholes that cause state budget losses. Consequently, amending the law requires careful scrutiny, along with a comprehensive and objective impact assessment from various perspectives.

The Committee on Economics and Finance noted that the Government's submission mainly reflects the views of certain associations and enterprises, lacking analysis from the perspective of state budget revenue management.

The main issue for businesses is related to delays in VAT refunds. Along with specific analyses for each proposed amendment, many opinions within the Standing Board of the Economic and Financial Committee believe that the draft law lacks convincing evidence for the necessity of amendments and does not ensure compliance with Regulation No. 178-QĐ/TW on power control and anti-corruption, negativity in law-making, and suggests that the Government complete the dossier to clarify the basis more convincingly.

The Government proposes to restore the provision allowing businesses trading in unprocessed agricultural products not to pay VAT but still be able to deduct input tax. The reason is to facilitate cash flow for export businesses and avoid discrimination against imported goods.

The Committee's Standing Board believes this reason needs to be reconsidered. Since 1997, VAT taxation at the commercial stage has been consistent with international practices. Since 2013, when businesses were allowed to create their invoices, VAT refund fraud became serious, so the 2016 Law added a provision not to issue invoices at the commercial stage to prevent fraud.

Currently, businesses use electronic invoices connected to tax authorities, and there is a regulation that buyers can only get a tax refund if the seller has declared and paid taxes. Therefore, the reason for proposing this amendment is no longer appropriate. Additionally, the policy of applying a 5% VAT at the commercial stage encourages businesses to purchase directly from producers, thereby reducing intermediary costs and increasing value for farmers.

The Committee's Standing Board recommends not presenting the amendment at this session due to insufficient time for a comprehensive evaluation. The Government can address obstacles through resolutions or sub-law documents under the authority granted.

If the amendment is still presented at the session, the Government needs to supplement explanations: reasons for amending newly issued provisions, assess the risk of state budget revenue loss, and propose appropriate management measures.

Vneconomy-Mỹ Văn

According to the verification agency, all three amendments proposed by the Government are provisions that were recently revised in the 2024 Value Added Tax Law, which was passed at the 8th session and took effect on July 1, 2025.

The draft law amending and supplementing certain articles of the Law on Value Added Tax (VAT), submitted to the National Assembly at this session, continues to spark mixed opinions.

In a recently released preliminary verification report, the National Assembly's Economic and Financial Committee stated that amending the law at this time is unnecessary. The Committee argued that the proposal lacks a comprehensive assessment basis and poses potential risks of budget revenue loss and invoice fraud regarding VAT refunds.

According to the verification agency, all three amendments proposed by the Government are provisions that were recently revised in the 2024 Value Added Tax Law, which was passed at the 8th session and took effect on July 1, 2025. While gathering and synthesizing feedback from enterprises during the law's implementation is necessary to find solutions to resolve "bottlenecks" caused by legal regulations, caution is required.

However, tax policies always have a broad and multidimensional impact on related parties—some benefit while others are adversely affected. Therefore, tax regulations must align with sound principles and policies without creating loopholes that cause state budget losses. Consequently, amending the law requires careful scrutiny, along with a comprehensive and objective impact assessment from various perspectives.

The Committee on Economics and Finance noted that the Government's submission mainly reflects the views of certain associations and enterprises, lacking analysis from the perspective of state budget revenue management.

The main issue for businesses is related to delays in VAT refunds. Along with specific analyses for each proposed amendment, many opinions within the Standing Board of the Economic and Financial Committee believe that the draft law lacks convincing evidence for the necessity of amendments and does not ensure compliance with Regulation No. 178-QĐ/TW on power control and anti-corruption, negativity in law-making, and suggests that the Government complete the dossier to clarify the basis more convincingly.

The Government proposes to restore the provision allowing businesses trading in unprocessed agricultural products not to pay VAT but still be able to deduct input tax. The reason is to facilitate cash flow for export businesses and avoid discrimination against imported goods.

The Committee's Standing Board believes this reason needs to be reconsidered. Since 1997, VAT taxation at the commercial stage has been consistent with international practices. Since 2013, when businesses were allowed to create their invoices, VAT refund fraud became serious, so the 2016 Law added a provision not to issue invoices at the commercial stage to prevent fraud.

Currently, businesses use electronic invoices connected to tax authorities, and there is a regulation that buyers can only get a tax refund if the seller has declared and paid taxes. Therefore, the reason for proposing this amendment is no longer appropriate. Additionally, the policy of applying a 5% VAT at the commercial stage encourages businesses to purchase directly from producers, thereby reducing intermediary costs and increasing value for farmers.

The Committee's Standing Board recommends not presenting the amendment at this session due to insufficient time for a comprehensive evaluation. The Government can address obstacles through resolutions or sub-law documents under the authority granted.

If the amendment is still presented at the session, the Government needs to supplement explanations: reasons for amending newly issued provisions, assess the risk of state budget revenue loss, and propose appropriate management measures.

Vneconomy-Mỹ Văn

This cooperation aims to deliver integrated, high-quality healthcare solutions that unite international-standard medical services with insurance–financial ecosystem.

On December 4, AIA (Vietnam) Life Insurance Company Limited and Vinmec Healthcare System officially signed a Memorandum of Understanding (MoU) for strategic cooperation, aiming to jointly develop integrated, advanced healthcare solutions that combine international-standard medical services with Vietnam’s leading insurance–financial ecosystem.

Under this agreement, AIA Vietnam and Vinmec will collaborate to research and design specialized insurance products and programmes tailored to the diverse needs of different customer segments. These offerings will include premium privileges, enhanced healthcare choices, and elevated service experiences for customers of both organizations.

Ms. Le Viet Thanh Ha, Associate Director, Customer Marketing and High Net Worth of AIA Vietnam.

As part of the partnership, Vinmec will continue to provide direct billing services for AIA Vietnam, helping shorten waiting times and maximize convenience during medical visits and treatments. Customers will also gain access to exclusive membership programmes, personal data privacy assurance, and personalized benefits and gifts designed for various customer groups, including high-net-worth clients.

In addition, the two organizations will co-host professional events and medical conferences to elevate community awareness of preventive healthcare and comprehensive financial solutions.

Speaking at the signing ceremony, Ms. Le Viet Thanh Ha, Associate Director, Customer Marketing and High Net Worth of AIA Vietnam, emphasized: “We understand that today’s customers place increasing importance on personalized, in-depth, high-quality, and convenient healthcare services. Our collaboration with Vinmec lays a strong foundation for AIA Vietnam to develop a premium health and wellness ecosystem further, offering customers greater peace of mind in their health and financial decisions”.

Backed by AIA Group’s 105-year legacy in Asia and 25 years of operations in Vietnam, AIA Vietnam currently serves more than 1.6 million customers. It has paid out over VND16 trillion ($607 million) in insurance benefits. The company continues to expand its “Healthier Living” ecosystem through AIA Vitality, Personal Medical Case Management services, and community initiatives that inspire healthy lifestyles. AIA also leads the industry in applying digital technology to advisory, customer service, and claims processes—delivering transparent and seamless experiences.

Mr. Nguyen Huy Ngoc, Deputy CEO of Vinmec Healthcare System.

Mr. Nguyen Huy Ngoc, Deputy CEO of Vinmec Healthcare System, commented that within the 4P model of modern medicine, Prevention plays an especially critical role. At Vinmec, Prevention is our core foundation for protecting and improving community health—from proactive screening and risk reduction to early detection and timely intervention before conditions progress to more severe stages.

“In this journey, insurance is an indispensable partner. Collaboration with insurers enables healthcare systems to manage risks effectively, expand access to high-quality services, and promote preventive healthcare practices within the community”, Mr. Ngoc emphasized.

Moreover, Vinmec is committed to building a value-based healthcare system that delivers meaningful outcomes for customers through accessibility, treatment effectiveness, service experience, and cost optimisation. By standardizing diagnostic and treatment protocols and enhancing care planning, we not only elevate medical quality but also ensure transparent cost control—creating balanced value for both customers and partner payers”.

As an academic and pioneering healthcare system invested by Vingroup, Vinmec operates nine hospitals and 7 clinics with strong clinical expertise across multiple Centers of Excellence (Cardiology, Allergy–Clinical Immunology, Orthopedics Sports Medicine, Oncology…). The system continually advances its capabilities through cutting-edge medical innovations, including cell therapy, personalized treatment enabled by 3D printing, organ transplantation, and robotic surgery.

The collaboration between AIA Vietnam and Vinmec not only strengthens the integrated healthcare–financial ecosystem in Vietnam but also contributes to building a healthier, more prosperous, and more sustainable community.

-

In the 0.45% increase of the CPI for November compared to the previous month, nine groups of goods and services saw price increases, while two groups experienced price decreases.

The Consumer Price Index (CPI) for November 2025 increased by 0.45% compared to the previous month, primarily due to a significant rise in food prices in provinces and cities directly affected by post-storm floods, according to a report released on December 6 by the General Statistics Office of Vietnam.

Additionally, dining out costs rose due to increased input material costs and fuel prices. On average, the CPI for the first 11 months of 2025 increased by 3.29% compared to the same period last year.

In the 0.45% increase of the CPI for November compared to the previous month, nine groups of goods and services saw price increases, while two groups experienced price decreases.

The nine groups with increased prices include transportation, which rose by 1.07%, contributing 0.11 percentage points to the overall CPI increase. Within this group, diesel prices increased by 5.23%, and gasoline prices rose by 2.41% due to domestic fuel price adjustments.

Additionally, motorcycle prices increased by 0.03%, and automobile parts rose by 0.29%. Passenger transport by air increased by 3.61%, and combined passenger transport rose by 0.57% due to increased travel demand.

The food and dining services group increased by 0.95%, contributing 0.34 percentage points to the overall CPI increase. Within this group, food prices rose by 1.33%, contributing 0.3 percentage points to the overall CPI increase; dining out increased by 0.34%, and foodstuffs rose by 0.30%.

Other goods and services increased by 0.30%, mainly in items such as jewelry, which rose by 3.22% in line with global gold prices; non-electric personal tools increased by 0.04%; personal care items and watch/jewelry repairs both increased by 0.19%; funeral and wedding services rose by 0.22%; personal care services increased by 0.47%; and hairdressing services rose by 0.79%.

The report reveals that core inflation in November increased by 0.23% compared to the previous month and by 3.28% compared to the same period last year. On average, core inflation for the first 11 months of 2025 increased by 3.21% compared to the same period last year, lower than the 3.29% increase of the overall average CPI.

The main reasons for this include the prices of food, electricity, healthcare services, and education services, which impact the CPI but are excluded from the core inflation calculation.

Vneconomy-Song Hà

Prime Minister Pham Minh Chinh called for establishing a sovereign wealth fund in this December.

The Government on December 6 convened its regular monthly meeting for November to assess the socio-economic situation of the month and the first 11 months of the year.

The meeting also reviewed the disbursement of public investment capital and the progress of implementing three national target programs. Key topics included administrative reform, the operation of the two-tier local government model, temporary housing policies when the state recovers land, and other significant issues.

Presiding over the meeting, Prime Minister Pham Minh Chinh emphasized the limited time remaining in 2025 amidst a complex global context with strategic competition and slow economic recovery. 

He noted that despite positive outcomes, challenges such as inflation pressure, exchange rates, public investment disbursement delays due to floods, high gold prices, and USD exchange rates, and significant natural disaster impacts on production and life were noted. 

The Government leader urged delegates to thoroughly evaluate the situation, identify results, limitations, causes, and lessons learned. He called for breakthrough solutions to achieve a growth target of 8% or more, such as boosting exports, accelerating public investment disbursement, developing processing and manufacturing industries, and stimulating consumption.

Prime Minister Pham Minh Chinh also called for establishing a sovereign wealth fund in this December.

In the first 11 months, the government and the Prime Minister issued 366 legal documents, over 6,500 directives, and held more than 2,600 meetings with localities. As a result, the socio-economic situation continued its positive trend. The average CPI for 11 months increased by 3.3%.

The total import-export turnover for 11 months reached nearly $840 billion, up over 17%; the trade surplus was estimated at $20.5 billion. Public investment disbursement was about VND553.25 trillion (nearly $21 billion), reaching 60.6% of the plan, higher in both rate and absolute value compared to the same period in 2024. Registered FDI reached nearly $33.7 billion, up 7.4%; implemented FDI reached $23.6 billion, up 8.9%.

Many localities achieved GRDP growth of 8% or more in 2025, with six localities exceeding 10%, including Quang Ninh, Hai Phong, Ninh Binh, Phu Tho, Bac Ninh, and Quang Ngai. Key transportation and energy projects continued to accelerate. Many international organizations positively assessed Vietnam's economic prospects.

Regarding social welfare, in 11 months, the Prime Minister decided to support nearly VND6.8 trillion ($258 million) from the Central budget reserve for localities. The Government also established the National Housing Fund to promote social housing development.

In response to storms and floods in the central region, the Government directed the implementation of early emergency measures and quickly supported the people. The Prime Minister launched the "Quang Trung Campaign" to mobilize resources for repairing houses and resettling heavily affected households.

Cultural, social, health, education, digital transformation, and administrative reform areas continued to receive attention. National defense and security were ensured; social order and safety were maintained; crime, smuggling, and commercial fraud prevention efforts were strengthened.

Vneconomy-

Prime Minister Pham Minh Chinh emphasized the limited time remaining in 2025 amidst a complex global context with strategic competition and slow economic recovery.

The Government on December 6 convened its regular monthly meeting for November to assess the socio-economic situation of the month and the first 11 months of the year.

The meeting also reviewed the disbursement of public investment capital and the progress of implementing three national target programs. Key topics included administrative reform, the operation of the two-tier local government model, temporary housing policies when the state recovers land, and other significant issues.

Presiding over the meeting, Prime Minister Pham Minh Chinh emphasized the limited time remaining in 2025 amidst a complex global context with strategic competition and slow economic recovery. 

He noted that despite positive outcomes, challenges such as inflation pressure, exchange rates, public investment disbursement delays due to floods, high gold prices, and USD exchange rates, and significant natural disaster impacts on production and life were noted. 

The Government leader urged delegates to thoroughly evaluate the situation, identify results, limitations, causes, and lessons learned. He called for breakthrough solutions to achieve a growth target of 8% or more, such as boosting exports, accelerating public investment disbursement, developing processing and manufacturing industries, and stimulating consumption.

In the first 11 months, the government and the Prime Minister issued 366 legal documents, over 6,500 directives, and held more than 2,600 meetings with localities. As a result, the socio-economic situation continued its positive trend. The average CPI for 11 months increased by 3.3%.

The total import-export turnover for 11 months reached nearly $840 billion, up over 17%; the trade surplus was estimated at $20.5 billion. Public investment disbursement was about VND553.25 trillion (nearly $21 billion), reaching 60.6% of the plan, higher in both rate and absolute value compared to the same period in 2024. Registered FDI reached nearly $33.7 billion, up 7.4%; implemented FDI reached $23.6 billion, up 8.9%.

Many localities achieved GRDP growth of 8% or more in 2025, with six localities exceeding 10%, including Quang Ninh, Hai Phong, Ninh Binh, Phu Tho, Bac Ninh, and Quang Ngai. Key transportation and energy projects continued to accelerate. Many international organizations positively assessed Vietnam's economic prospects.

Regarding social welfare, in 11 months, the Prime Minister decided to support nearly VND6.8 trillion ($258 million) from the Central budget reserve for localities. The Government also established the National Housing Fund to promote social housing development.

In response to storms and floods in the central region, the Government directed the implementation of early emergency measures and quickly supported the people. The Prime Minister launched the "Quang Trung Campaign" to mobilize resources for repairing houses and resettling heavily affected households.

Cultural, social, health, education, digital transformation, and administrative reform areas continued to receive attention. National defense and security were ensured; social order and safety were maintained; crime, smuggling, and commercial fraud prevention efforts were strengthened.

Vneconomy-

The total new and additional registered capital reached over $212 million, a 104.3% increase compared to the same period in 2024.

The business landscape in Vietnam for the first 11 months of 2025 has shown remarkable dynamism, with a significant increase in both the number of new enterprises and the capital being injected into the economy.

According to the General Statistics Office under the Ministry of Finance, nearly 178,000 new businesses were registered, with a total capital of over VND1.75 trillion ($66.5 million), marking a 20.9% increase in both the number of enterprises and the capital compared to the same period last year.

In addition to new businesses, the number of enterprises resuming operations surged by 39.9%, reaching 97,600. This brings the total number of businesses entering and re-entering the market to 275,600, a 26.1% increase from the same period in 2024. On average, the economy welcomed approximately 25,100 businesses each month.

Despite a slowdown in November 2025 compared to October, with a 16.1% decrease in the number of new businesses and a 6.9% decrease in capital, the number of new enterprises still grew by 34.9% compared to November of the previous year.

One of the most notable indicators in the economic picture over the past 11 months is the scale of additional registered capital. The total new and additional registered capital reached VND5.6 trillion (over $212 million), a 104.3% increase compared to the same period in 2024.

The main driving force behind this growth comes from existing businesses, with additional registered capital reaching nearly VND3.9 trillion (nearly $148 million), a staggering 197.3% increase. This reflects a reality where existing enterprises are aggressively investing more capital to expand their production and business scale, while new entrants join with an average capital size of about VND9.8 billion (over $371,000), similar to the previous year.

The service sector remains the most vibrant, attracting 136,200 new businesses, a 22.3% increase from the same period last year. This is followed by the industrial and construction sectors, with 40,100 new businesses, marking a 16.6% increase.

However, there is a concerning rise in the number of businesses completing dissolution procedures, which spiked by 60.1% to 30,800 businesses. Meanwhile, the number of businesses temporarily suspending operations reached 110,100, a 14.4% increase, and those awaiting dissolution numbered 64,500, an 11.7% increase.

The sharp rise in dissolution rates compared to temporary suspensions indicates that many businesses can no longer "hold on" for better opportunities and are forced to close permanently. Particularly, capital and labor-intensive sectors such as real estate and transportation are heavily impacted, with dissolution rates increasing by 56.4% and 61.5%, respectively.

Vneconomy-Ngân Hà

Participants at a recent conference looked at how best to ensure that the government and corporate bond markets contribute to hitting future double-digit growth targets.

Despite a year marked by volatility in both the global and domestic economies, Vietnam’s bond market remained stable and continued to post positive growth, a conference held on November 6 in northern Quang Ninh province heard. Held by the Hanoi Stock Exchange (HNX), in coordination with the Department of Financial Institutions at the Ministry of Finance (MoF), the State Treasury, and the State Securities Commission (SSC), the conference discussed measures to further develop both the government bond and corporate bond markets to bolster capital mobilization in support of the double-digit economic growth targets for 2026 and beyond.

In her opening remarks, Ms. Pham Thi Thanh Tam, Deputy Director of the Department of Financial Institutions, said 2025 marks the final year of the 2021-2025 socio-economic development plan, and is a pivotal year in delivering the best possible results while laying the groundwork for the 2026-2030 period, which carries both high expectations and significant challenges for Vietnam’s economic development in the new era.

Steady amid volatility

Ms. Tam noted that despite complex developments in the global and domestic economies and various external pressures, Vietnam’s bond market remained stable and continued to grow in 2025. Total capital raised stood at more than VND730 trillion ($28.08 billion), equivalent to some 27 per cent of total social investment. As of October, the bond market’s size stood at approximately VND3,830 trillion ($147.31 billion), or 33.3 per cent of 2024 GDP.

Notably, the government bond market grew by 7.4 per cent in absolute value compared with 2024, reaching about 22.1 per cent of 2024 GDP. Government bond issuance has increasingly become the State’s primary fundraising channel, accounting for 70 per cent of central budget capital needs and roughly 80 per cent of the government’s total domestic financing during the 2021-2025 period.

The average maturity of government bond issuance during 2025 was 9.84 years, meeting the target set by the National Assembly. The average cost of capital remained reasonable, contributing to the restructuring of public debt towards greater safety and sustainability.

Despite these gains, Ms. Tam emphasized that the government bond market must further improve liquidity in both the primary and secondary markets to meet sharply rising capital needs for economic growth in 2026-2030, which are expected to be more than double the levels in the 2021-2025 period.

Based on the VND500 trillion ($19.23 billion) government bond issuance plan assigned by the MoF for 2025, the State Treasury developed and released a detailed schedule by maturity. The plan concentrates issuance in the 10-year tenor at VND230 trillion ($8.85 billion), the 15-year tenor at VND85 trillion ($3.27 billion), and the 5-year tenor at VND100 trillion ($3.85 billion).

As of the end of October, the State Treasury had issued VND283,400 trillion ($10.9 billion), achieving 57 per cent of the full-year plan. In return, the government bond portfolio remained safe and sustainable, with the average maturity in 2025 reaching 9.84 years; in line with the National Assembly’s target of nine to eleven years.

Liquidity constraints kept bid volumes in government bond auctions below expectations, creating significant challenges for issuance. As of the end of October 2025, the State Treasury had called for bids totaling VND535,500 trillion ($20.6 billion), but actual bids reached only VND454,130 trillion ($17.47 billion).

By tenor, the State Treasury focused on issuing government bonds with maturities from five to 30 years, with the 10-year tenor taking the lead. Data for the ten-month period shows that 10-year bonds accounted for 82 per cent of total issuance, followed by 5-year bonds at 12 per cent and 15-year bonds at 5 per cent. All other maturities recorded minimal volumes.

Regarding interest rates, government bond yields closely tracked market rates. Charts of issuance yields across maturities in 2025 compared with secondary-market yields show a clear upwards trend in both.

In terms of investor composition, Vietnam Social Security remained the largest buyer of government bonds, accounting for 65 per cent of purchases. Commercial banks made up 26 per cent, while insurance companies, securities firms, and investment funds collectively accounted for 9 per cent.

Market in motion

According to data from the SSC, the corporate bond debt-to-GDP ratio has reached 10.2 per cent this year. Total corporate bond issuance in the first nine months amounted to VND462.7 trillion ($17.8 billion), up nearly 44 per cent from the same period of 2024. Of this, there were ten public bond issuances worth nearly VND21 trillion ($800 million), accounting for 15.8 per cent of total issuance value, and 386 private placements worth VND441.7 trillion ($17 billion), accounting for 84.2 per cent.

Looking only at public bond issuance, 86.37 per cent of value in the first nine months came from the banking sector and 10.24 per cent from real estate. This differs from 2024, when credit institutions and real estate companies were the largest issuers in the corporate bond market, accounting for 65 per cent and 21 per cent of total issuance, respectively, followed by the industrial sector with 4 per cent.

For privately-placed corporate bonds, banks have been the largest issuers since the beginning of the year, accounting for 70 per cent of issuance value, while real estate ranked second with around 22 per cent. These proportions were also higher than in 2024, when credit institutions accounted for 66.04 per cent of total issuance value and real estate companies around 22.4 per cent.

The private corporate bond trading system operated by HNX received and listed 570 bond codes from 137 companies in 2024, with registered trading value reaching nearly VND512,192 billion ($19.7 billion). In just the first nine months of this year, it received and listed 361 bond codes from 85 companies with registered trading value of nearly VND393,053 billion ($15.1 billion).

As of December 31, 2024, there were 26 companies with publicly-listed bonds, representing 68 bond codes and a total value of VND90.7 trillion ($3.5 billion). By October 30, 2025, the exchange had received listing applications from 28 companies covering 75 bond codes with a total value of VND125.2 trillion ($4.8 billion).

The average issuance interest rate in 2024 for privately-placed corporate bonds was about 7.2 per cent per annum, while for publicly-issued corporate bonds it averaged 8.5 per cent. In the third quarter of this year, the average issuance interest rate stood at 7.18 per cent per annum and the average maturity was 4.6 years. A total of 1,931 bond codes made principal and interest payments in 2024, including VND53.1 trillion ($2 billion) in interest and VND105.7 trillion ($4.1 billion) in principal, for a combined VND158.6 trillion ($6.1 billion).

The MoF has proactively and regularly reported market developments to competent authorities over recent years, recommending policy solutions and regulatory measures. As a result, the corporate bond market recorded positive growth in 2025 compared to 2024 in both the number of issuing companies and the value of capital raised, with total issuance reaching about VND441.7 trillion ($16.99 billion).

“Notably, we acknowledge and greatly appreciate the active participation of investors in the bond market, as well as the Vietnam Bond Market Association, which has acted as a bridge between regulators and market members,” Ms. Tam said. “Throughout the market’s development, the Ministry has also worked closely with, and received valuable support from, international financial institutions.”

For a stronger market

Delivering directives at the conference, Deputy Minister of Finance Mr. Nguyen Duc Chi acknowledged the efforts of and commended the positive results achieved by regulatory bodies, relevant organizations, and market participants in the bond market over recent years.

He noted that in the new context, the Party and the government have set a GDP growth target of at least 10 per cent for 2026 and the following years. Therefore, alongside the equity market, expectations for the bond market, both government and corporate bonds, are significant, as it must become a primary channel for mobilizing and allocating medium and long-term capital to support economic growth.

He instructed regulatory agencies and related organizations to continue improving the legal framework, refining issuance procedures and technical processes, and proactively managing government bond issuance in line with State budget financing needs and market conditions, closely tied to treasury management. He also emphasized the need for continued coordination with the State Bank of Vietnam to ensure effective fundraising for the State budget through prudent monetary policy management.

Alongside ongoing efforts to diversify market products, the Deputy Minister directed that green government bonds be introduced to mobilize capital for green public investment projects that support sustainable, environmentally-responsible growth. He also called for stronger investor development measures, particularly for financially capable institutional investors such as investment funds, insurance companies, pension funds, and commercial banks. For the corporate bond market, he stressed the importance of strengthening communications and investor education, with a focus on developing a more robust base of professional securities investors to ensure more stable, disciplined, and effective market growth.

Mr. Nguyen Hoang Duong, Vice Chairman of the SSC, told the conference that the agency will fully incorporate the guidance from Deputy Minister Chi. Together with the Ministry’s directives and the views shared at the gathering, regulators and related units will consolidate and refine proposals to craft effective solutions that help both the government bond and corporate bond markets expand more strongly and meet rising capital mobilization needs in the years to come.

Among the many coordinated measures the SSC is prioritizing, as the regulator of the securities sector and an advisory body to the MoF, several key pillars stand out to develop Vietnam’s capital market in a safe, transparent, and efficient manner.

On expanding the institutional investor base, the Commission aims to encourage greater participation from domestic and foreign investment funds, particularly specialized funds, infrastructure funds, and ESG (environmental, social, and governance) funds. At the same time, it is studying mechanisms for bond guarantees by capable financial institutions, to broaden medium and long-term funding channels. Regulations governing asset allocation by financial institutions into corporate bonds are also being reviewed to ensure both safety and market development.

Regarding improvements to product quality, it is pushing ahead with Vietnam’s stock market upgrade roadmap, strengthening IPO and listing standards, and aligning conditions for issuing shares and bonds with international practices. For greater transparency, it is enhancing disclosure mechanisms to ensure full and timely information, especially for listed companies and corporate bond issuers, while tightening enforcement against violations to protect investors’ legitimate interests.

On market infrastructure, efforts are underway to modernize trading, clearing, and settlement systems and to build a unified, connected, and accessible market database. In terms of supervision, the SSC is refining an integrated oversight model and strengthening coordination between regulatory bodies to ensure system safety.

To ensure an efficiently functioning market, the Commission emphasized the need for collective effort from all market participants. While public companies must improve corporate governance, transparency, and accountability to shareholders and investors, investors must invest professionally, with long-term strategies and thorough assessments of risks and returns.

In the new context, the Party and the government have set a GDP growth target of at least 10 per cent for 2026 and the following years. Therefore, alongside the equity market, expectations for the bond market, including both government and corporate bonds, are significant, as it must become a primary channel for mobilizing and allocating medium and long-term capital to support economic growth. Deputy Minister of Finance Nguyen Duc Chi

VET-Hoang Dat

With $77.06 billion achieved in November, the total import-export turnover of the whole country after 11 months of 2025 has increased to $839.75 billion...

According to the National Office of Statistics (the Ministry of Finance), the country's total import and export turnover in 11 months of 2025 reached $839.75 billion, surpassing the record of $786.29 billion for the whole year 2024, with exports increasing by 16.1 per cent and imports by 18.4 per cent.

In the period, export turnover reached $430.14 billion, up 16.1 per cent year-on-year. Of which, the domestic economic sector recorded $102.41 billion, representing a decrease of 1.7 per cent, and accounting for 23.8 per cent of the total; while the foreign-invested sector (including crude oil) recorded $327.73 billion, representing a year-on-year increase of 23.1 % and accounting for 76.2% of the total.

There were 36 commodities achieving export turnover of over $1 billion each, accounting for 94.1 per cent of total export turnover, including 8 commodities exceeding $10 billion each, accounting for 70.3 per cent.

On the import side, for the first 11 months of 2025, import turnover reached $409.61 billion, up 18.4 per cent from the same period last year, with the domestic economic sector contributing $128.4 billion, an increase of 1.7 per cent, and the foreign-invested sector contributing $281.21 billion, an increase of 28 per cent.

During this period, 47 commodities achieved import turnover of over $1 billion each, accounting for 93.9 per cent of total import turnover, including 6 commodities exceeding $10 billion each, accounting for 57.7 per cent. 

Regarding the import and export markets in the first 11 months of 2025, the US remained Vietnam's largest export market with a turnover of $138.6 billion, while China was its largest import market with a turnover of $167.5 billion. 

The trade balance for the first 11 months of 2025 showed a surplus of $20.53 billion, compared to a surplus of $24.38 billion in the same period last year. The domestic economic sector experienced a trade deficit of $25.99 billion, while the foreign-invested sector (including crude oil) achieved a trade surplus of $46.52 billion.

VnEconomy-Việt Nam

The National Assembly Standing Committee gave opinion on a draft Resolution of the National Assembly on specific mechanisms and policies for major projects in the capital city...

During its meeting held on December 4, the National Assembly (NA) Standing Committee focused its discussions on a draft resolution of the NA on specific mechanisms and policies for major projects in Hanoi.

According to Minister of Finance Nguyen Van Thang, Hanoi is undertaking numerous critical projects, ranging from those of public investment and public-private partnerships (PPP) to those for attracting strategic investors and projects of urban renovation, including the redevelopment of old apartment buildings.

Although the revised Capital Law, enacted on June 28, 2024, provides a crucial legal framework, there remain practical challenges, particularly in the decentralization and delegation of investment management authority.

Minister Thang emphasized the urgent need for a resolution to pilot certain special mechanisms to address legal bottlenecks, attract new resources, and create breakthroughs for rapid and sustainable development in the capital city.

The draft Resolution proposes more authority for the Hanoi People’s Council and the Chairman of the Hanoi People’s Committee to approve investment policies for public projects, PPP projects, and private-sector projects, without limitations on capital scale or land area.

Several projects that currently fall under the authority of the National Assembly (NA), the Government, or the Prime Minister are also proposed to be delegated to Hanoi, except for cases requiring exceptions to existing laws, which must be reported to the Government for submission to the National Assembly Standing Committee.

Regarding investor selection, the draft allows the application of special mechanisms for urgent projects or nationally important projects. 

The draft permits Hanoi to advance municipal budget funds for compensation, support, and resettlement prior to investment policy approval; its People’s Council is empowered to approve compensation levels up to twice the standard rate for urgent projects. The city may also use budget surpluses and apply emergency public investment and construction mechanisms to address issues such as traffic congestion, flooding, and environmental pollution.

During the meeting, the NA Economic–Financial Committee agreed on the necessity of the Resolution but recommended careful examination to avoid overlap with existing laws and to clarify the legal status of the Comprehensive Master Plan.

NA Chairman Tran Thanh Man also emphasized that only truly exceptional mechanisms that effectively remove bottlenecks should be retained. Hanoi’s leadership expressed hope that the Resolution will soon be adopted to expedite key projects and advance the city’s 100-year planning vision.

NA Vice Chairman Vu Hong Thanh said that the dossier meets the requirements for inclusion in the legislative program and for submission to the National Assembly through a fast-track procedure.

VnEconomy-Minh Kiệt

The top 10 in both categories comprised 60% domestic firms and 40% foreign-invested companies, signalling significant advances made by Vietnamese enterprises.

The Vietnam Chamber of Commerce and Industry (VCCI) on December 5 held a ceremony in Hanoi to honour the country’s 100 sustainable enterprises across manufacturing and trade–services , according to a report from the Vietnam News Agency.

Notably, the top 10 in both categories comprised 60% domestic firms and 40% foreign-invested companies, signalling significant advances made by Vietnamese enterprises and underscoring that the “sustainability playground” is no longer dominated by FDI firms with strong governance foundations.

Addressing the ceremony, Deputy Prime Minister Ho Duc Phoc commended VCCI for its decade-long initiative in developing the Corporate Sustainability Index (CSI) and running the programme for ten consecutive years.

He urged firms to persevere and innovate in building strategies and adopting responsible, sustainable business models, and to proactively improve corporate governance, transparency and accountability via applying the CSI to widen their access to green finance sources.

In 2025, the CSI programme attracted more than 500 businesses of various types and sizes nationwide to submit applications, of them 147 shortlisted for official scoring. Remarkably, over 20% of this year’s participants were first-time entrants, and around 30% were listed companies on Vietnam’s stock exchanges – the highest number to date.

With CSI 2025 issuing its first index version exclusively for micro and small enterprises – alongside the existing version for medium and large firms, the programme saw strong engagement from the new group, and for the first time, micro and small enterprises were recognised in the top 100.

Vietnam News Agency- Nguyễn Khánh Vân

Prime Minister Pham Minh Chinh requested to perfect mechanisms on developing free trade zones and a petrochemical refinery center, ensuring feasibility and creating new growth momentum...

At separate meetings of the Government Standing Board, chaired by Prime Minister Pham Minh Chinh on December 5, discussions were focused on proposals for establishing  free trade zones (FTZs), and developing the national oil refining and energy center at the Dung Quat Economic Zone in Quang Ngai.

The participants evaluated the political, legal, and practical foundations; defined objectives, directions, principles, and criteria for establishing  pilot FTZs.

In Vietnam, the current general legal system lacks specific FTZ provisions, making the immediate development of the proposal urgent. This move is expected to transform FTZs into new growth engines and testing grounds for economic policies aligned with international standards.

According to the proposal by the Ministry of Finance, pilot FTZs are expected to be established in Da Nang, Hai Phong, and Ho Chi Minh City in 2026. The goal is to establish 6–8 FTZs or similar models nationwide by 2030, and 8–10 international-standard FTZs by 2045, aiming to contribute 15–20% of the country's gross domestic product (GDP).

Prime Minister gave in-principle approval to the proposals to pilot free trade zones and develop a national oil refining, petrochemical, and energy centre at the Dung Quat Economic Zone.

However, he asked the Ministry of Finance to refine the FTZ proposal for submission, ensuring feasibility and effectiveness to contribute to socio-economic development, especially the realisation of the two strategic centenary goals.

PM Chinh explicitly requested clarifying the definition of an FTZ, its similarities with and differences from an international commercial centre, as well as relevant mechanisms and policies.

He urged agencies to study international experiences and base on Vietnam's conditions to formulate specific, suitable, competitive, and feasible mechanisms that do not negatively impact the general investment climate.

He emphasised that implementation requires integrated efforts across policy, planning, infrastructure, technology, and governance while addressing social security and environmental concerns, among others.

Regarding mechanisms and policies for developing a national oil refining, petrochemical, and energy centre in the Dung Quat Economic Zone in the central province of Quang Ngai, the PM noted that the Dung Quat refinery, invested and operated by Vietnam, is performing efficiently and already has its Phase 2 expansion approved.

The PM broadly supported the proposed policies but tasked ministries, the locality, and the Vietnam National Industry - Energy Group (Petrovietnam) with reviewing the existing regulatory framework and proposing even more specific, breakthrough, and robust policies for consideration by the National Assembly or the Government.

VnEconomy-Hà Lê