Vietnam Economic Times Issue 432 | Monday, November 24, 2025

Dear readers,

Cashless payments, or more precisely, electronic payments, have become an inexorable trend worldwide in the digital age and are being widely adopted everywhere. Among these, QR code payments are the preferred option for almost all businesses and consumers, due to its simple operation, fast processing speed, high security, and the readiness of the credit system to accommodate such payments.

The benefits of electronic payment methods, especially QR code payment, are evident in many aspects. First of all, with these modern payment methods, physical barriers are eliminated, transactions accelerated, and aggregate demand increased. As a result, the volume of cash circulating in the economy is reduced, while a significant amount of time is saved by minimizing friction and delays in sales transactions, especially in small, high-frequency ones. These simple payment methods also encourage consumers to spend more, reducing the fear of paying with cash; just a “click” is needed, instead of waiting for change. The QR code payment system has also contributed to increased consumption in the retail, food, tourism, and personal services sectors. The total retail sales of goods and services have therefore increased sharply, thanks to the fast, ceaseless, and rarely-interrupted nature of QR code payments.

According to Mr. Pham Anh Tuan, Director of the Payment Department at the State Bank of Vietnam (SBV), non-cash payment transactions in Vietnam increased by 43.32 per cent in volume and 24.23 per cent in value year-on-year in the first nine months of 2025. Transactions via QR code surged by 61.63 per cent in volume and 150.67 per cent in value, becoming the leading method among electronic payment types in terms of total users.

SBV Deputy Governor Pham Tien Dung believes that the success of QR code payments in Vietnam can be attributed to the complementary effect of three main factors: (i) the consistent policy of the government and the SBV on cashless payments; (ii) the introduction of the QR standard, which has broken down interbank barriers; and (iii) strong market acceptance: from banks to millions of small businesses and consumers.

To further clarify the convenient features, advantages, and successes of the QR code payment method, as well as some of its shortcomings, Vietnam Economic Times / VnEconomy / Tap chi Kinh te Viet Nam, in collaboration with the Payment Department at the SBV, NAPAS, and related units, organized a seminar on November 19 with the theme “QR Code Payments: Transparency and Unlimited Experiences,” which attracted the participation of representatives from the SBV, the General Department of Taxation at the Ministry of Finance, the Domestic Markets Department at the Ministry of Industry and Trade, and major banks such as Vietcombank, BIDV, Agribank, VietinBank, as well as international experts from India.

To amplify the effective information from the above seminar, our Cover Story in this edition focuses on QR code payments in Vietnam, with analyses on the current situation and solutions to promote the development of the QR code payment network in the country, as well as the effects of this payment method, especially for tax authorities; thereby affirming the correctness of the policy of cashless payments set forth by the government and the SBV, a policy considered “key” to promoting e-commerce and public services and improving the efficiency of economic management and control of cash flow, in line with the requirements of developing a digital economy and digital society.

Warmest regards

Dr. CHU VAN LAM
CHAIRMAN OF THE EDITORIAL BOARD

VET-Vietnam Economic Times - VnEconomy

The application of WEPs and GRP becomes even more important as global buyers, investors, and new-generation Free Trade Agreements (FTAs) require businesses to strictly adhere to standards of transparency, inclusiveness, and sustainability (ESG principles).

Gender equality is not merely a social issue but a core economic lever, empowering women-owned businesses to thrive in global supply chains.

This key message was highlighted at the seminar 'Enhancing Business Competitiveness: From Gender Equality Advancement to Gender-Responsive Procurement Practicing,' organized on November 25 by the Vietnam Women Entrepreneurs Council (under VCCI) and UN Women.

In her opening remarks, Ms. Mai Thi Dieu Huyen, Vice President in charge of the Vietnam Women Entrepreneurs Council (VCCI), stated that over nearly 40 years of reform, Vietnam's private economic sector has become a crucial growth driver, contributing approximately 45% of GDP, 33% of the state budget, and accounting for 97% of total enterprises. Within this landscape, women-owned businesses make up 24%, playing an increasingly important role in agriculture, consumer goods, services, and innovation.

However, most of these enterprises face barriers such as small scale, difficulty accessing finance, limited market connections, and few opportunities to participate in large supply chains. Ms. Alice Hawkins, Second Secretary at the Australian Embassy in Thailand, also noted that women face unique challenges to growth, sometimes due to capacity issues, and sometimes due to a lack of access to comprehensive business networks, business development services, financial products, and markets.

According to Ms. Nguyen Thi Bich Thuy, from the Ministry of Finance's Department of Private Enterprise Development and Collective Economy, as of October 2025, Vietnam has over 1 million active enterprises, with more than 20% being women-owned and over 50% having female participation in ownership structures. The number of women-owned businesses has continuously increased over the years, with a growth rate of at least 2% per year, higher than the average growth rate of the business sector. Vietnam is also one of the markets with a developing female entrepreneur team and the most effective female business network in the ASEAN region.

Ms. Thuy also agreed that women-owned businesses face four main barriers: limitations in scale and network connections; barriers in accessing finance; limitations in management skills and innovation; and the burden of social roles and gender stereotypes.

In this context, the Women's Empowerment Principles (WEPs) and Gender-Responsive Procurement (GRP) initiatives by UN Women are becoming a global trend, helping businesses enhance sustainable competitiveness, expand markets, attract responsible investors, and create positive social impacts. WEPs and GRP serve as a "compass" to help businesses overcome barriers and enhance sustainable competitiveness.

WEPs provide a consistent roadmap, helping businesses integrate gender equality into leadership roles, work environments, markets, and communities. Meanwhile, GRP complements by directing the purchasing power of both the public and private sectors, expanding opportunities for businesses with comprehensive performance.

Ms. Mai Thi Dieu Huyen emphasized, "Promoting gender equality is essential for businesses to raise competitive standards in the new phase. When businesses create equal opportunities and practice GRP, they are opening doors to larger, more professional, and sustainable supply chains."

The application of WEPs and GRP becomes even more important as global buyers, investors, and new-generation Free Trade Agreements (FTAs) require businesses to strictly adhere to standards of transparency, inclusiveness, and sustainability (ESG principles).

Vneconomy-Song Hà

Kaluga hopes to strengthen cooperation with Hanoi across key economic sectors.

Mr. Nguyen Xuan Luu, Vice Chairman of the Hanoi People’s Committee, held a working session in Hanoi on November 25 with a visitng delegation from Kaluga Oblast (Russia), led by its Governor, Mr. Vladislav Valerievich Shapsha, to discuss areas of mutual cooperation.

At the meeting, Mr. Shapsha shared that Kaluga is among the most economically dynamic regions of the Russian Federation, ranking top nationwide in industrial growth, per-capita investment, real income growth, and the application of advanced technologies in annual production.

Kaluga Oblast is currently focused heavily on developing infrastructure and transportation to boost trade, achieving significant success in agricultural production, and is one of the five leading localities of Russia in terms of in international cooperation. In recent years, Kaluga has contributed to training more than 350 Vietnamese specialists across various fields.

For these reasons, Mr. Shapsha emphasized Kaluga’s strong desire to further strengthen cooperation with Hanoi across priority economic sectors in the near future, including advancing technology transfer initiatives.

Mr. Luu, for his part, highlighted that Hanoi is currently investing heavily in industry–construction and information technology, creating a strong foundation for inner-city connectivity and the broader economic development of northern Vietnam.

Between 2024 and 2025, Hanoi has launched major projects aimed at developing a smart and sustainable urban environment. The city is also prioritizing the development of healthcare, tourism, security and safety, economic growth, and improving the quality of life for its residents, while expanding international cooperation.

In this context, Mr. Luu also stressed that Hanoi and Kaluga share many complementary strengths and conditions that are conducive to deepening bilateral cooperation in the coming period.

He welcomed and encouraged Russian enterprises, particularly those from Kaluga, to expand their investment and technology transfer activities in Hanoi, especially in manufacturing, industrial infrastructure, and education and training.

Along with that, the city also hopes that both sides will continue to promote investment facilitation activities, strengthen communication channels, and foster deeper mutual understanding and friendship between the people and business communities from the two localities.

vneconomy-Phuong Nhi

The 13th Vietnam-China People's Forum focused on the 75-year history of Vietnam-China diplomatic relations.

Ms. Bui Thi Minh Hoai,  Member of the Politburo, Secretary of the Party Central Committee, and Chairwoman of the Central Committee of the Vietnam Fatherland Front, on November 25 hosted a reception for a Chinese delegation which was in Vietnam to attend the 13th Vietnam-China People's Forum.

Ms. Bui Thi Minh Hoai highly appreciated the forum, which, she said, coincides with the two countries' practical activities commemorating the 75th anniversary of the establishment of diplomatic relations between Vietnam and China. 

The 13th Vietnam-China People's Forum, organised by the Vietnam Union of Friendship Organisations and the Chinese People's Association for Friendship with Foreign Countries, is taking place from November 23 to 27.

This year's forum focused on the 75-year history of the diplomatic relations, national governance models and perspectives, economic-trade-investment cooperation, and educational-scientific-technological collaboration between Vietnam and China. 

Speaking at the reception, Vice President of the Chinese People’s Association for Friendship with Foreign Countries Sun Xueqing, who leads the Chinese delegation, noted that 2025 marks the 75th anniversary of the establishment of diplomatic relations between China and Vietnam, as well as the year of cultural exchanges between the two nations. 

He highlighted the forum as a significant mechanism outlined in the Vietnam-China Joint Statement, receiving much attention from Party and State leaders of both countries. 

Chairwoman of the Central Committee of the Vietnam Fatherland Front 

During the three discussion sessions at the forum, delegates and scholars discussed topics related to the 75th anniversary of the establishment of diplomatic relations between Vietnam and China, especially issues of mutual concern such as theoretical issues, national governance, economic development cooperation, trade, investment, science, and technology.

Through the forum, delegates proposed solutions and mechanisms to effectively promote people-to-people exchanges and public diplomacy, making important contributions to the solidarity and friendship relationship of being both comrades and brothers between Vietnam and China.

Chairwoman of the Central Committee of the Vietnam Fatherland Front Bui Thi Minh Hoai affirmed that public diplomacy is one of the three pillars of Vietnam's diplomacy; she believes that the delegates will fulfill their tasks well, continuing to be a bridge between the people of Vietnam and China, strengthening their ties.

vneconomy -Như Nguyet

Vietnam's Department of E-commerce and Digital Economy and Shopee Co., Ltd. signed a Memorandum of Understanding (MOU) in Singapore to promote cross-border e-commerce.

At Shopee's headquarters in Singapore, the Department of E-commerce and Digital Economy under Vietnam's Ministry of Industry and Trade, and Shopee Co., Ltd. signed a Memorandum of Understanding (MOU) to promote cross-border e-commerce on November 25. This collaboration aims to modernize the national trade ecosystem by integrating state policies, business capabilities, and technological infrastructure.

Vietnam - A "Rising Star" in Southeast Asia

In recent years, Southeast Asia has emerged as the most dynamic e-commerce region globally, with Vietnam standing out as a "rising star," due to its impressive growth rate.

According to the e-Conomy SEA 2024 report, ASEAN's total e-commerce revenue reached $159 billion, a 14% increase. Notably, Vietnam contributed $22 billion, marking an 18% growth, securing its position among the regional leaders.

Ms. Lai Viet Anh, Deputy Director of the Department of E-commerce and Digital Economy, emphasized that e-commerce is not only a driver of digital economic growth but also a powerful tool for comprehensive digital transformation across all aspects of social life. Thanks to e-commerce, Vietnamese consumers can access a diverse range of products from both domestic and international sources. More importantly, small and medium-sized enterprises (SMEs) have leveraged digital platforms to optimize costs, expand distribution channels, and begin conquering global markets.

These achievements result from the consistent and long-term e-commerce development policies of the Vietnamese government, as reflected in comprehensive plans for each phase (most recently 2026-2030) and the Vietnamese Prime Minister's Directive 29/CT-TTg on promoting exports. These documents have identified cross-border e-commerce as a strategic pillar to build a sustainable digital export ecosystem, enhancing international competitiveness for Vietnamese goods and brands.

To realize this goal, the Ministry of Industry and Trade has  implemented specific action programs, including enhancing the capacity of SMEs through training courses on e-commerce application skills, marketing, logistics, and supply chain management. They also support and encourage businesses to participate in major international e-commerce platforms to access global markets.

Expanding International Vision for Vietnamese Enterprises

Vietnam's leading position cannot be overlooked without mentioning the role of top e-commerce platforms. Shopee is a prime example, continuously evolving to become a technological launchpad, supporting SMEs in digital transformation and leveraging the platform's technological advantages for domestic and international development.

The signing of the MOU between the Department of E-commerce and Digital Economy and Shopee is a testament to Vietnam's strong commitment to digital commerce and the micro, small, and medium enterprise (MSME) community, VietnameseAmbassador to Singapore Tran Phuoc Anh affirmed.

This MOU will focus on promoting online B2C exports of Vietnamese MSMEs to ASEAN and international markets. It will develop the "Vietnam National Pavilion" on Shopee International, showcasing authentic, quality products from Vietnamese MSMEs. Additionally, it will organize training and capacity-building programs for MSMEs on online B2C exports and implement digital promotion campaigns in the ASEAN region.

Mr. G. Jayakrishnan, Regional Managing Director of Enterprise Singapore, noted, "This collaboration comes at the right time as ASEAN accelerates digital transformation. This coordination not only provides practical solutions and technology application guidance for MSMEs but also serves as a bridge for interaction, connecting potential partners, creating a broad cooperation framework, and emphasizing the Vietnam-Singapore connection in the digital era."

With a spirit of mutual benefit and transparency, the signing of the MOU between the Department of E-commerce and Digital Economy and Shopee marks an important milestone, realizing the cross-border e-commerce development policies, helping Vietnamese goods and brands "reach far on the global trade map."

vneconomy-Song Ha

Vietnam continues to hold its position as the world’s third-largest textile and apparel exporter.

Vietnam’s textile and garment industry is on a strong recovery trajectory, with export revenues forecast to hit $46 billion in 2025, a 5.6% increase from 2024, according to the Vietnam Textile and Apparel Association (VITAS).

Speaking at a press briefing on November 25, a representative from VITAS highlighted an impressive trade surplus of $21 billion, underscoring the sector’s vital contribution to the national trade balance. The industry has also achieved a domestic value-added rate of roughly 52%, reflecting growing self-sufficiency in raw materials and component supply.

With these gains, Vietnam continues to hold its position as the world’s third-largest textile and apparel exporter, behind China and Bangladesh. Vietnamese textile and garment products are now sold in 138 markets worldwide.

The United States remains Vietnam’s largest export market, with expected revenues of $18.6 billion in 2025, an 11.75% increase year-on-year. Apparel products continue to dominate export earnings, contributing about $38 billion of the industry’s anticipated total. Market confidence in Vietnam is evidenced by many enterprises securing orders through the end of the first quarter of 2026 and actively negotiating contracts for the second quarter.

VnEconomy-Vũ Khuê

They affirm commitment to cooperating in the effort to build Ho Chi Minh City into a leading international financial hub in the region.

Prime Minister Pham Minh Chinh held a working session in Ho Chi Minh City on November 25 with representatives from major foreign financial institutions and corporations attending the 2025 Autumn Economic Forum.

During the meeting, participants shared perspectives, outlined long-term visions, and affirmed their commitment to cooperating in the effort to build Ho Chi Minh City into a leading international financial hub in the region.

They also discussed ways to support Vietnam’s broader goals for sustainable socio-economic development.

PM Chinh stressed that Vietnam is a developing nation undergoing economic transformation and therefore requires substantial capital to fuel growth. To attract investment, he said, the country is building a foundation of transparent institutions, modern and interconnected infrastructure, smart governance, and practical, results-oriented solutions.

In addition to revitalising traditional growth drivers, Vietnam is prioritising investment in emerging sectors such as the digital economy, green and circular economy, data infrastructure, and artificial intelligence.

The Prime Minister expressed hope that investors, corporations, businesses, and international partners will continue to support and accompany Vietnam in its development journey, helping the country “turn nothing into something, the difficult into the easy, and the impossible into the possible.”

He affirmed that the Government remains committed to listening to investors and creating the most favourable conditions for them to cooperate and succeed in Vietnam.

VnEconomy-Thanh Thủy

The "PPP Dialogue: Partner - Innovate - Deliver" event focuses on removing capital bottlenecks and promoting public-private partnership in the fields of transport, urban areas and innovation...

The Ministry of Finance (MoF), in collaboration with the Asian Development Bank (AerDB), organized the "PPP Dialogue: Partner - Innovate - Deliver" event in Hanoi on November 25, aiming to effectively implement current legal regulations on public-private partnership (PPP) investments, creating more room to mobilize private resources for infrastructure and socio-economic development, particularly in science, technology, innovation, and digital transformation sectors.

In his opening remarks, Deputy Minister of Finance Tran Quoc Phuong emphasized that Vietnam is entering a new development phase, aiming for rapid, sustainable growth and enhancing national competitiveness. The demand for infrastructure investment in the coming period is substantial, while public resources can only meet a portion of it. Therefore, attracting the private sector through PPP becomes an essential requirement.

According to the Deputy Minister, the legal framework for PPP has been continuously improved in recent years. After completing the legal corridor, Vietnam is ready to accelerate the implementation of PPP projects with significant spillover effects.

"The discussions at the dialogue will significantly contribute to bringing the PPP legal framework into practical, effective implementation, meeting the requirement to mobilize all resources for the country's development in the new breakthrough phase," Deputy Minister Phuong emphasized.

Mr. Shantanu Chakraborty, ADB Country Director in Vietnam, assessed that over the past 15 years, Vietnam has made impressive progress in building the legal and institutional foundation for PPP. These efforts lay a groundwork for expanding PPP in a more strategic and consistent direction. However, he also noted that Vietnam still needs more time to form a significant number of feasible projects to access the market and effectively mobilize capital.

At the event, many businesses and experts agreed that the amended PPP Law creates a more open legal foundation, but the final effectiveness still heavily depends on the speed of state agency responses, coordinated mechanisms, and the detail level of implementation guidelines.

Investors and banks expect these amendments not only to stop at documents but to be applied consistently and timely, helping the PPP model truly become a pillar for mobilizing private capital in national infrastructure development.

vneconomy-Dũng Lan

Ho Chi Minh City is home to over 14 million people and contributing nearly 25% of Vietnam’s GDP.

Prime Minister Pham Minh Chinh on November 25 chaired CEO 500 – TEA CONNECT, a program linking Vietnamese and Ho Chi Minh City leaders with executives from major domestic and international enterprises.

The event was held as part of the Autumn Economic Forum 2025 hosted by Ho Chi Minh City to discuss pathways for the southern city to establish itself as an international megacity in the near future.

The gathering brought together more than 500 leaders of local and foreign businesses, who were briefed on HCM City’s 2026–2030 development strategy, with a vision toward 2045, along with key investment projects. Participants also exchanged ideas and cooperation initiatives to help the city advance its transformation into an international megacity in the digital era.

In his address, PM Chinh praised the practical, responsible, and enthusiastic contributions from international partners and domestic and foreign enterprises. He called for their continued cooperation and support for the development of both HCM City and Vietnam as a whole.

According to Mr. Tran Luu Quang, Secretary of the municipal Party Committee, HCM City—home to over 14 million people and contributing nearly 25% of Vietnam’s GDP—continues to affirm its role as the country’s economic engine and a leading hub for trade, finance, industry, education, healthcare, and international commerce. The city plays its  role as a pioneering contributor to the national development.

HCM City is currently restructuring its development space and shaping a new strategic vision based on five integrated and interconnected strategic development pillars, including high-tech industry and innovation, where digital technology, AI, semiconductors, and big data are pervasive drivers; logistics and free trade linked to seaports, airports, and free trade zones; the development of an international financial center; tourism and cultural industries, creating added value from culture, creativity, art, entertainment, and international events; and education, healthcare, and science and technology aimed at regional and international standards.

VnEconomy-Thanh Thủy

E-commerce remaining the key pillar of Vietnam's digital economy, expected to surpass $25 billion this year.

Vietnam’s digital economy is estimated to reach $39 billion in 2025, surging 17% year-on-year, according to the 10th edition of the annual e-Conomy SEA report launched recently by Google, Temasek, and Bain Company.

The report also shows that growth in digital payments remains strong as the government pushes for cashless payments. Gross transaction value for digital payments is forecast to hit $178 billion this year.

E-commerce remains the core pillar of Vietnam's digital economy, accounting for two-third of the sector's value. E-commerce value is expected to exceed $25 billion in 2025, a year-on-year increase of 17%.

Vietnamese users rank first in Southeast Assia (SEA) for AI engagement and trust, leading in daily interactions and willingness to share data for personalized experiences. Around 81% of users say they interact with AI tools and features every day; 83% of users have learned about AI via various approaches; and 96% of users are willing to share data with AI agents. As a result, revenue of apps with marketed AI features rose 78%.

Vietnam’s AI ecosystem is also expanding rapidly. The country is home to over 40 AI startups, which attracted $123 million in private investment last year, accounting for 5% of all AI investment in Southeast Asia. Notably, 79% of surveyed investors expect Vietnam to continue drawing significant capital, particularly in software, AI, and deeptech.

VnEconomy-Như Quỳnh

The banking system processed more than 17.8 billion non-cash payment transactions with a total value of over VND260 quadrillion (nearly $10 trillion) in the first nine months of 2025.

The State Bank of Vietnam (SBV) has unveiled its Banking Sector Digital Transformation Strategy to 2030, setting an ambitious goal of increasing the value of cashless payments to 30 times the country’s GDP by the end of the decade.

Currently, non-cash payment value in Vietnam is equivalent to roughly 20 times  its GDP.

Under the strategy, the banking sector also aims for 95% of citizens aged 15 and older to hold a transaction account at a bank or licensed financial institution by 2030.

The SBV said the overarching objective is to provide banking services that are convenient, smart, user-friendly, easily accessible, multi-channel, multi-device compatible, and secure — thereby improving financial wellbeing for individuals and enhancing operational efficiency for businesses.

In the first nine months of 2025, the banking system processed more than 17.8 billion non-cash payment transactions with a total value of over VND260 quadrillion (nearly $10 trillion), marking increases of 43.23% in volume and 24.23% in value year-on-year. About 87% of the adult population currently has a payment account.

VnEconomy-Hoàng Lan

A new growth cycle beckons for Vietnam’s hospitality market, driven by investment shifts, lifestyle trends, and a renewed focus on talent.

After years of disruption following Covid-19, Vietnam’s hospitality market is now regaining its balance. Domestic travel has stabilized after an early post-pandemic boom, while international arrivals, led by China and South Korea, are climbing back quickly. Hotels around the country are posting stronger occupancy and higher room rates, supported by growing confidence and renewed investor attention. Mr. Mauro Gasparotti, Senior Director and Head of Southeast Asia at Savills Hotels, told Meet the Experts (MTE) Hanoi 2025 that “This is the year every hotel owner has been waiting for - finally, a year to make money.”

Regaining its footing

From rapid expansion to sudden contraction and now measured recovery, Vietnam’s hospitality market has come full circle. Prior to the pandemic, the country boasted one of the world’s largest hotel pipelines, with new projects growing by around 30 per cent each year, Mr. Gasparotti said. This wave of supply outpaced demand, cutting into profitability even as visitor numbers rose.

Over the past few years, however, growth in new supply has slowed to some 5 per cent, giving hotels space to breathe and improve occupancy. Future growth is expected to remain below 10 per cent; a healthy level that aligns better with rising demand and expanding infrastructure. “This is the moment when foreign investors start to look at Vietnam again,” Mr. Gasparotti believes.

The structure of the market is also shifting. Eight of the largest Vietnamese developers, including leading groups such as the Sun Group and BIM Group, account for nearly one-third of total new supply, mirroring patterns seen in more mature tourism markets like Thailand. However, several large projects remain on hold as developers refine strategies and financing plans, leading to a more deliberate, sustainable pace of development.

Geographically, though, growth has been uneven. Coastal destinations like Phu Quoc Island off the coast of the Mekong Delta and central Da Nang city continue to absorb most of the new inventory, while urban centers such as Hanoi and Ho Chi Minh City are under-supplied. “Hotels in Ho Chi Minh City are getting older,” Mr. Gasparotti pointed out. “There have been a few renovations this year, but we need much more.” With limited new projects in the pipeline, the city stands out as one of the most promising investment opportunities in the years ahead.

In terms of segmentation, early-developed destinations such as Mui Ne and Nha Trang along the south-central coast remain focused on the midscale market, while newer hotspots like south-central Cam Ranh province, Phu Quoc Island, and Da Nang lean towards upscale and luxury developments. The next phase of growth, Mr. Gasparotti suggested, will depend on diversification - not just building more hotels but the right ones in the right places.

Beyond traditional hospitality

Inside Vietnam’s hospitality boardrooms, the conversation has changed. The focus is no longer on reopening, it’s on reimagining. Across brands and destinations, hotel leaders are recalibrating portfolios for a more resilient, experience-driven era.

For leading developers like the Sun Group, the last 12 months marked a period of bold expansion. Mr. Daniel Trinh, its Chief Business Development Officer, said the group had entered new business segments, including aviation, as part of its broader strategy to integrate travel and hospitality. Phu Quoc Island remains its anchor destination, where it is developing Southeast Asia’s first all-inclusive resort with Accor, set to open in 2026.

Currently operating 18 hotels and resorts, the Sun Group plans to triple its portfolio to 65 properties by 2030. Beyond scale, it is also adapting to the shifting demographics of travelers. “We’re entering lifestyle hospitality, from luxury lifestyle to economy,” Mr. Daniel noted, pointing to new partnerships with brands such as Marriott and Hilton.

Meanwhile, Ms. Carolina Fagnani, Vice President of Development, Southeast Asia and Pacific, at the Radisson Hotel Group, described 2025 as a year of acceleration, with delayed projects now moving forward and confidence returning among investors. Radisson itself has added lifestyle offerings, with Radisson RED Da Nang and Radisson Resort Mui Ne, while continuing to expand its development pipeline.

The Masterise Group, traditionally known for luxury residences, is taking a long-term view on hospitality. Ms. Nelly Phuong Ta, Head of Hospitality and Entertainment, said Masterise is now focused on building branded living lifestyles across its portfolio, not just branded residences. With 1,400 hotel keys signed and its first properties under construction, Masterise plans to debut hotels in 2027 and 2028, targeting the premium and ultra-luxury segments.

For TT Hospitality, the past year has been about restarting momentum. Acting CEO Ms. Thuy Le said that after years of limited progress, “there has been a lot of positive change.” The company is now actively signing management agreements with major international operators, including Marriott, and targeting the opening of around ten hotels within the next two years.

The BIM Group has also posted strong performance, with revenue rising 24 per cent since 2019. During the past year, it has opened the InterContinental Halong Bay, Holiday Inn Vientiane, and Soul Boutique Hotel on Phu Quoc Island, with Park Hyatt Phu Quoc set to follow next year. However, Mr. Adam Riley, Head of Hospitality, highlighted a key market shift that caught many off guard: the surge of Chinese travelers to Vietnam. This development, he said, underscores how quickly regional dynamics can change and how essential it is for operators to adapt swiftly.

Game-changing year ahead

As Vietnam’s hospitality industry looks towards 2026, the conversation turns from recovery to readiness. The next 12 months promise not just expansion but a deeper focus on data, talent, and long-term sustainability.

For the BIM Group, next year is about intelligence and insight. “We’ve been developing our business intelligence system over the past three years,” Mr. Riley said. “We’re looking 365 days into the future, exploring how to use AI for predictive insights, and integrating food and beverage data into that system.” Yet alongside technology, he voiced growing concern about people. With Phu Quoc Island and other destinations preparing to welcome thousands of new rooms, talent retention has become a pressing issue. “Staff turnover is over 20 per cent across our estate; that’s starting to keep me awake at night,” he admitted.

At TT Hospitality, growth remains the priority. Ms. Le shared plans to operate ten hotels by 2026 while expanding TT’s travel ecosystem through Vietravel Airlines. “We expect to open more flight routes to support tourism and grow our branded residence portfolio,” she said.

Meanwhile, Ms. Nelly from the Masterise Group predicted that 2026 will mark a game-changing phase for the entire sector. The upcoming APEC 2027 Summit on Phu Quoc, she noted, is already driving infrastructure upgrades. “New metro lines and high-speed rail will change our lives, and Vietnam’s travel industry, forever,” she said.

For international brands like the Radisson Hotel Group, Vietnam’s challenge is to turn new visitors into repeat guests. “Only 2-5 per cent of tourists return,” Ms. Fagnani noted. “If we can reach 8-10 per cent, that’s when we can say Vietnam has become a repeat destination.”

Mr. Daniel linked all these ambitions under one theme: sustainability through talent and infrastructure. “We’re launching the Sun Hospitality and Sun Aviation Academies, in partnership with EHL and CAE, to meet future demand,” he said, adding that the group is also developing Phu Quoc International Airport’s Terminal 2 ahead of APEC 2027.

Together, these priorities point towards a maturing hospitality market, one that’s embracing data, building ecosystems, and preparing its people for the next stage of Vietnam’s tourism story.

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Vietnam's real estate market, especially the elderly care housing segment, promises many development opportunities...

At a specialized seminar on real estate for the elderly in Vietnam, organized recently by Savills Vietnam and WeCare247, experts highlighted that Vietnam is facing rapid population aging, leading to a significant increase in the demand for elderly care services.

According to the National Statistics Office, by 2038, the proportion of people over 60 in Vietnam could reach 20.1 per cent, officially placing the country among those with an aging population. Similarly, the United Nations Population Fund (UNFPA) predicts that by 2050, more than one-sixth of Vietnam's population will be over 65.

Savills Vietnam assesses that the rapid aging of the population places considerable pressure on the care system, as the demand for elderly care services becomes increasingly urgent and diverse. However, despite the strong demand, Vietnam's elderly care system has not yet fully developed. Most current care activities are spontaneous, lack formal training, and are fragmented, while the service gap widens each year.

These limitations lead to limited housing and integrated care service options for the elderly, such as specialized housing, resorts, or combined medical facilities. 

Nevertheless, Mr. Matthew Powell, Director of Savills Hanoi, believes that Vietnam's elderly care real estate market will grow rapidly and is expected to double in the next decade as millions of people enter retirement age.

According to preliminary research by Savills Vietnam, the market size is currently around $2.3 billion in 2024 and could reach $3.6 billion by 2032, with an annual compound growth rate of 5.81 per cent

Ms. Emily Fell, Senior Director of the Living Sectors division in the Asia-Pacific region, emphasizes that the Vietnamese market has great growth potential but requires a unique development strategy. Moreover, policy is also a key driving factor.

Meanwhile, Mr. Le Quoc Huan, Deputy General Director of WeCare247, believes that geographical factors will directly impact the implementation of care service models nationwide.

Sharing international lessons, Mr. Yusuke Hirai, Representative of Kitahara Group Vietnam, emphasized the importance of technology and technical transfer, while also opening up investment opportunities in the healthcare sector, thereby contributing to enhancing capacity and promoting the development of elderly care services in Vietnam.

According to Ms. Olivia Wood, Director of Lotus Advisory Group Vietnam, businesses need to carefully consider important factors, from understanding the local market, service quality, to suitable operating models and the ability to meet the diverse needs of the elderly.

Vneconomy-Thanh Xuân

At the event, Prime Minister Pham Minh Chinh called on Japanese prefectures and enterprises to continue trusting and supporting Vietnam on its development journey, contributing to the prosperity of both nations and their Comprehensive Strategic Partnership.

The Vietnam–Japan local cooperation forum was held on November 25 in Vietnam’s northern Quang Ninh province, with the attendance of Vietnamese Prime Minister Pham Minh Chinh and leaders and representatives of nearly 50 localities from both countries, alongside ministries, agencies, businesses and experts.

Japanese Prime Minister Sanae Takaichi sent a congratulatory message to the forum.

Addressing the event, PM Chinh, as quoted by the Vietnam News Agency, called on Japanese prefectures and enterprises to continue trusting and supporting Vietnam on its development journey, contributing to the prosperity of both nations and their Comprehensive Strategic Partnership.

Since the establishment of diplomatic relations 50 years ago, and especially since the elevation of bilateral ties to a Comprehensive Strategic Partnership in 2023, Vietnam–Japan relations have been thriving, the State-run news agency remarked, adding that to date, over 110 cooperation agreements have been signed by the two sides’ localities, creating an important foundation for deepening the relations.

The forum aims to materialize the key areas agreed upon by the two countries’ high-ranking leaders, and establish regular dialogue and connectivity mechanisms, helping deepen exchanges, share experience, and advance substantive cooperation that delivers balanced benefits for both sides.

The Vietnamese PM affirmed that local-to-local and business-to-business cooperation has become a hallmark of Vietnam–Japan relations, serving as a practical channel to translate high-level agreements into concrete agreements and projects. Japan remains one of Vietnam’s most important economic partners, its top provider of ODA and partner in labor cooperation, the third-largest investor, and the fourth-largest trading and tourism partner.

According to him, since the upgrade to the Comprehensive Strategic Partnership, cooperation between Vietnam and Japan has expanded to new areas such as digital transformation, green transition, circular economy and creative economy. Innovation and science–technology have emerged as new pillars, opening broader space for joint development.

Briefing delegates on Vietnam’s socio-economic achievements, PM Chinh noted that after nearly 80 years of nation-building and 40 years of Doi Moi (Renewal), Vietnam has transformed itself from a war-ravaged and isolated country into one of the world’s top 35 economies, and among the 20 nations with the largest trade scale. It has signed 17 FTAs with 60 partners and maintained diplomatic ties with 194 countries. Per capita GDP has increased 50-fold; macro-economic stability, social order and national defense-security have been maintained; and people’s living standards have improved.

Stepping into a new development era, Vietnam is committed to addressing bottlenecks in institutions, human resources and infrastructure; mobilizing all resources; and accelerating economic restructuring with science-technology, digital transformation and innovation as major drivers. The country aims for double-digit growth from 2026 and strives to become a high-income developed nation by 2045.

Highlighting the vast potential for stronger Vietnam–Japan cooperation, PM Chinh outlined several key directions.

He said localities should proactively leverage their complementary strengths and needs on the basis of mutual benefit. Many Vietnamese provinces seek capital, technology and supporting industries, while many Japanese prefectures face labor shortages, ageing populations and the need for new growth drivers.

The PM emphasized placing enterprises and people at the center, taking them as the main actors and beneficiaries of cooperation. He urged localities to focus on policies that create favorable conditions for businesses to connect and invest, ensuring that people benefit from “better jobs, higher incomes and better skills.”

Cultural and people-to-people exchanges must remain a long-term foundation, the leader said, encouraging both sides to propose specific initiatives to enhance cultural connectivity, tourism cooperation and mutual understanding between localities.

He held that innovation and digital transformation should be developed as new growth engines, and called for cooperation in digital technology, AI, smart cities, start-up incubation, and RD centers. He expressed hope that Japan will share experience and support Vietnamese localities and businesses in building innovation ecosystems, digital governance capacity and policies for priority sectors such as AI, mobile infrastructure and semiconductors.

According to the PM, green transition and climate adaptation must be stepped up. He proposed cooperation projects in green infrastructure, urban flood prevention, waste and wastewater treatment, climate-smart agriculture and renewable energy.

The PM welcomed the statement of newly elected Japanese PM Takaichi - “Work! Work! Work! And Work!” - and reaffirmed Vietnam’s readiness to accompany Japanese localities and investors.

PM Chinh called on Japanese localities and enterprises to maintain their confidence in Vietnam and continue deepening cooperation, contributing to shared prosperity and the Comprehensive Strategic Partnership. He expressed his belief that the first Vietnam - Japan local cooperation forum will become an important milestone and a “new catalyst” for future collaboration - aligned with the guiding spirit of sincerity, affection, trust, substance, effectiveness and mutual benefits.

VNA-Khanh Van

Hanoi will not apply an absolute ban on gasoline-powered motorbikes in the Ring Road 1 area starting from 2026 as previously proposed.

The Hanoi People's Committee has submitted a draft resolution to the City People's Council regarding regulations on Low Emission Zones (LEZ), clarifying the roadmap for restricting polluting vehicles under the 2024 Capital Law.

Hanoi authorities announced they will not apply an absolute ban on gasoline-powered motorbikes in the Ring Road 1 area starting from 2026 as previously proposed. Instead, the city plans to implement restrictions based on specific time slots, periods, and specific areas.

According to the draft, Low Emission Zones are established based on strict protection areas and emission restriction zones outlined in the Capital Master Plan for the 2021–2030 period, with a vision to 2050. These are areas that frequently experience traffic congestion with a Level of Service ranging from D to F, or have an Air Quality Index (AQI) below average for at least one recent year based on national and city monitoring data.

Within these zones, the city plans to apply a series of vehicle restrictions. Gasoline-powered motorbikes and mopeds will be banned from circulating during certain hours or in specific areas, depending on the approved and published plan. Commercial motorbike transport services operating on digital platforms (ride-hailing apps) will also be prohibited from operating within Low Emission Zones. Regarding automobiles, Hanoi aims to restrict and eventually ban vehicles that do not meet Level 4 emission standards from circulating in these zones, aligning with the green transition roadmap the city is promoting.

Alongside restrictive measures, the city has set a target that by 2030, all commercial motorbike transport vehicles must complete the transition to clean energy vehicles. For taxis, starting July 1, 2026, all newly purchased vehicles must use clean or green energy. From January 1, 2035, the People's Committee will decide on the scope, timing, and types of fossil fuel vehicles to be restricted on specific routes or lanes based on infrastructure conditions, traffic situations, and actual demand.

Hanoi is also tightening regulations on new registrations for fossil fuel vehicles. Old vehicles, upon reaching their circulation expiration date, will not be granted new controlled registrations, particularly regarding vehicles owned by organizations.

Vneconomy-Đan Tiên

The Task Force is mandated to comprehensively evaluate the capacity and experience of foreign investora to ensure that transferred technologies are suitable and capable of integrating with other domestic data centers, particularly the National Data Center.

The People's Committee of Ho Chi Minh City has decided to establish an inter-disciplinary working group to support the Super Data Center project (referred to as the Task Force).

The Task Force consists of 19 members. Director of the municipal Department of Science and Technology, Mr. Lam Dinh Thang, will serve as the team leader, with the Department acting as the standing agency for the Task Force.

The Task Force is mandated to comprehensively evaluate the capacity and experience of foreign investors. This aims to ensure that transferred technologies are suitable and capable of integrating with other domestic data centers, particularly the National Data Center. Reviewing current legal regulations is also a crucial part of the Task Force's mission, aimed at proposing solutions to remove difficulties and obstacles, thereby accelerating the project's implementation progress.

With the establishment of the Task Force, the city not only affirms its position in the region but also opens up numerous opportunities for digital economy development.

HCM City is currently witnessing a strong wave of investment in the data center sector, marking a significant stride in the development of the city's information technology infrastructure.

Recently, the city has continuously welcomed large-scale investment projects in data centers. Notably, the SGI-HCM Campus project, valued at nearly $2 billion, is being developed by Kinh Bac City Development Holding Corporation (KBC) alongside partners such as Accelerated Infrastructure Capital (AIC) and VietinBank.

In addition, Viettel Group has commenced construction of a Data Center and High-Tech Research and Development facility at Tan Phu Trung Industrial Park.

Furthermore, technology company G42 (whose major shareholder is the sovereign wealth fund of the United Arab Emirates - UAE) is preparing to construct an AI super data center with an investment capital of approximately $2 billion. Participating alongside G42 in this project are other investors including FPT Corporation, VinaCapital, and Viet Thai Investment Group.

Vneconomy-H.Vinh

Vietnam has the conditions necessary to be a major player in the salt industry if lingering issues can be addressed.

The long history of the global salt industry affirms that salt production is both an ancient and enduring endeavor, developing in step with human civilization. Global production stood at 274 million tons in 2023, worth $34.1 billion, an increase of 40 million tons from 20 years ago. Though salt no longer holds the same political or military weight as in previous centuries, its role in the modern world remains vital.

With its favorable geopolitical position, opportunities for global integration, and abundant natural resources, Vietnam is well-positioned to realize a new vision - transforming its salt industry into large-scale production that contributes meaningfully to national development in this era of integration and growth.

Bright spot

Today, salt has more than 14,000 applications in economic and social life. Global salt consumption per capita averages 35-40 kilos a year and 15 kilos in Vietnam - an indicator often used to gauge a nation’s industrial and social development. The global salt industry continues to grow steadily, at 2.5-3 per cent annually.

Vietnam currently has about 11,000 ha of salt production areas, yielding some 1 million tons a year, with half of all output coming from traditional salt farmers. However, the domestic salt industry continues to grapple with a number of longstanding structural weaknesses.

In the northern region, salt is mainly produced using the traditional sand-drying method, which relies heavily on manual labor and rudimentary tools. Productivity is rather low, at only 50-60 tons per hectare, while workplace productivity stands at just 3-5 tons per worker per year. The resulting low-quality salt struggles to compete in the market, leaving salt farmers in difficult economic conditions.

Similarly, in the southern region, scattered water-evaporation salt fields perform only marginally better, with yields of 25-30 tons per hectare and a short production season of four to five months.

The only bright spot lies in nine large-scale industrial salt fields concentrated in south-central Khanh Hoa province, such as Hon Khoi, Cam Nghia, Cam Ranh, Dam Vua, Tri Hai, Ca Na, Quan The, and Thong Thuan, as well as Vinh Hao in neighboring Lam Dong province’s Tuy Phong ward.

When operated under proper technical standards - with deep brine evaporation, long crystallization periods, rain cover, mechanical harvesting, and immediate washing after collection - these fields can reach a productivity level of up to 150 tons per hectare per year. Salt quality fully meets domestic industrial needs and can even be exported.

For many years now, public opinion has noted a paradox: why does Vietnam, with more than 3,200 km of coastline, still import around half a million tons of salt annually, and has done so for the past 25 years?

This, first of all, reflects a growing economy where rising production and consumption increase overall salt demand. The deeper reason, however, lies in the industry’s failure to develop new large-scale production zones to meet market needs. Meanwhile, traditional salt-making areas, especially sand-based fields in the north, are shrinking due to spontaneous land-use changes. Infrastructure in these areas has also deteriorated severely over time, with little reinvestment or upgrading, leading to lower productivity and output.

Most of Vietnam’s salt imports serve industrial production, which requires large, stable supplies of high-quality raw salt. Since domestic industrial salt fields have yet to fully meet these requirements, imports remain a necessary solution to balance supply and demand.

Rising tides, shifting ground

A major challenge facing Vietnam’s salt industry in the years to come is global climate change and rising sea levels, which are expected to have direct and severe impacts on production. Vietnam is one of five countries projected to be most affected.

The majority of salt fields in northern Vietnam, which rely on the traditional sand-drying method, and those in the south, which use seawater evaporation, are located in low-lying coastal areas that depend on tidal flows to draw in seawater. As sea levels rise, however, these production zones will become increasingly vulnerable, threatening around 6,000 ha of salt-producing land, equivalent to roughly 400,000 tons of output that would need to be replaced.

The Ministry of Agriculture and Environment has forecast that domestic salt demand will reach 2 million tons a year by 2030. To achieve self-sufficiency and reduce imports, the industry will need to nearly double both its production area and output within the next five years. This is a difficult challenge, but one that could be met by focusing development on the central coastal “salt belt”, particularly in Khanh Hoa and Lam Dong provinces.

This coastal region enjoys exceptional natural advantages in climate, sunlight, rainfall, wind, and seawater salinity - ideal conditions for producing high-yield, high-quality salt for industrial use.

Today, nine large-scale industrial salt fields with a total area of 4,700 ha and an annual output of 600,000 tons are concentrated here. Endowed by nature, the area remains unique in Vietnam and the wider region, and in the future may become the country’s last remaining stronghold for salt production.

Roadmap for renewal

To turn this vision into reality, experts suggest that the government urgently conduct surveys and assess the economic and social potential of salt resource regions, as a foundation for developing a long-term “Vietnam Industrial Salt Development Strategy” with a 50-year outlook and clear objectives.

The plan aims to raise total output to 3-4 million tons on an area of around 20,000 ha. This could be achieved by expanding the production zone inland by 15-20 km and elevating salt fields to 35-50 meters above sea level, making use of idle land, barren hills, underperforming forests, and especially low-yield single-crop rice areas.

A large-scale production base would generate strong economic spillover effects. Each ton of salt can produce around 0.5 cubic meters of brine, enough to support a downstream chemical industry. According to scientists, brine can yield up to 60 per cent of the total economic value, while sodium chloride (salt) accounts for just 40 per cent. If fully recovered and reused, brine could transform the salt industry into a green, zero-waste, and environmentally-sustainable sector.

Achieving this ambitious goal would require investment of several trillion VND. Under current policy, the State budget covers 100 per cent of infrastructure, land clearance, and resettlement costs, but table salt production generates no direct revenue for reinvestment, creating a major funding gap.

Experts therefore recommend introducing indirect taxes on salt industry activities to create a reinvestment fund. This could include taxing the nine existing industrial salt fields, which produce about 600,000 tons annually, and applying value added tax (VAT) to 500,000 tons of processed salt sold to consumers.

VET-Nguyen Gia Hung

The positive results are attributed to the implementation of the 2024 Social Insurance Law, which took effect on July 1 this year.

Over 20.4 million people nationwide participated in social insurance by the end of October 2025, an increase of 343,900 compared to the same periold last year, according to the Vietnam Social Insurance agency.

In terms of resolving and disbursing social insurance benefits, over 161,500 people nationwide receive monthly social insurance benefits, and more than 7.4 million instances of sickness, maternity, and health recovery benefits have been processed.

Notably, the number of people requesting one-time social insurance benefits has significantly decreased, dropping by about 23% compared to the same period in 2024. This reflects a marked shift in public awareness regarding the role and importance of social insurance policies in daily life.

The positive results are attributed to the implementation of the 2024 Social Insurance Law,  which took effect on July 1 this year, according to the Vietnan Social Insuarance.

VnEconomy-Phúc Minh

Vietnam currently ranks among the countries facing the highest number of cyberattacks in the region.

Vietnam’s administrative penalties for cybersecurity violations remain significantly low compared to international standards and lack sufficient deterrent power.

Currently, the highest administrative penalty for a cybersecurity violation stands at VND200 million ($7,600) (applicable to an organization that violates cybersecurity) or VND100 million ($3,800) (applicable to an individual violator) 

Consequently, according to Lieutenant Colonel Nguyen Dinh Do Thi, Deputy Head of the Network Information Security Division under the Department of Cybersecurity and High-Tech Crime Prevention at the Ministry of Public Security, it is necessary to study and supplement regulations to align sanctions with international practices, while consulting foreign regulations to perfect the penalty system in a strict and comprehensive manner.

Speaking at a seminar titled "Cybersecurity Law 2025: A Step Forward in Data Security Protection," held on November 24, Mr. Thi said "Through our professional operations, we have discovered that on forums and in closed groups, data of Vietnamese citizens is openly advertised for sale in packages. Some files contain up to tens of millions of records, covering a full range of professions and sectors. The subjects even classify the data in great detail, including phone numbers, full names, bank accounts, and even the income levels of specific groups."

He noted that criminals are no longer collecting data solely by hand; many are utilizing specialized software to steal data on a large scale.

According to Mr. Thi, there are three main issues contributing to this situation:

First, public awareness and consciousness regarding personal data protection remain low. Many people are willing to trade their privacy for convenience when using services or lack the habit of protecting themselves in the digital environment.

Second, many agencies, organizations, and enterprises have not deployed security measures commensurate with their data collection, processing, storage, and sharing activities. This inadvertently creates security voids for criminals to exploit.

Third, data management and control at certain units remain lax, creating loopholes for unauthorized information appropriation.

Additionally, Lieutenant Colonel Thi revealed that authorities have detected a number of domestic and foreign technology companies silently and illegally collecting data on Vietnamese users using automated tools. Many websites have pre-installed malware or data-mining software without the users' knowledge.

Furthermore, the legal framework regarding personal data protection is still being finalized. Following the upgrade of Decree 13 into the Law on Data Protection 2025, documents guiding its implementation are currently being drafted.

Vietnam currently ranks among the countries facing the highest number of cyberattacks in the region. In 2024 alone, over 600,000 attacks targeting domestic information systems were recorded, including tens of thousands of direct attacks against state agencies.

Vneconomy-Ngô Huyền

Investment certificates granted to 7 projects on November 24, at the Conference on Investment Promotion for Science, Technology, Innovation, and Digital Transformation in the northern province.

A conference on investment pomotion for science, technology, innovation, and digital transformation was held on November 24 in northern Quang Ninh province, within the framework of the Vietnam-Japan Local Cooperation Forum that took place in the same province, according to a report from the online newspaper of Radio the Voice of Vietnam.

At the conference, Quang Ninh granted investment certificates to 7 projects with a total registered capital of over VND16 trillion (nearly $607 million) in the science and technology sector.

The conference was attended by some 450 domestic and international delegates, including leaders of central ministries and agencies, foreign embassies in Vietnam, international organizations, and leading enterprises such as JETRO, KOCHAM, Marubeni, and DEEP C.

Speaking at the conference, Chairman of the Provincial People's Committee and Deputy Head of the Steering Committee for Science, Technology, Innovation, and Digital Transformation of Quang Ninh, Mr. Bui Van Khang, emphasized that the province has identified breakthroughs in science, technology, innovation, digital transformation, private sector development, and technological infrastructure as the primary drivers for development.

"Quang Ninh hopes that the business community, investors, scientists, and experts will join hands to research, propose, and implement projects on science, technology, innovation, and digital transformation; create products and services with high added value linked to the global value chain; and promote the development of the green economy, digital economy, sharing economy, circular economy, night-time economy, and other sustainable development models," said Mr. Khang.

On this occasion, several Memorandums of Understanding (MOUs) on investment cooperation were signed between the province and its partners, as well as among businesses. These agreements focus on human resource training and development, research and application of digital technology, the energy industry, and the promotion of innovative startups.

VOV-