In the first quarter alone, bilateral trade reached $548.6 million, with Vietnamese exports accounting for $495.2 million.

The Vietnam Trade Office in the Czech Republic has reported a remarkable surge in trade between Vietnam and the Czech Republic since early 2025.

In the first quarter alone, bilateral trade reached $548.6 million, with Vietnamese exports accounting for $495.2 million and imports totaling $53.4 million. This represents a 62.3% increase in Vietnam’s exports compared to the same period in 2024, signaling robust growth momentum.

Analysts attribute this upward trend to Vietnam’s participation in trade agreements with the European Union (EU), particularly the EU-Vietnam Free Trade Agreement (EVFTA). These agreements have facilitated greater market access for Vietnamese products in the Czech Republic and beyond.

In addition to tariff reductions under the EVFTA, Vietnam has made significant strides in enhancing product quality, especially in key export sectors such as textiles, electronics, and seafood, ensuring greater alignment with Czech consumer preferences.

The post-pandemic recovery of the Czech economy has further fueled demand for imported goods, particularly consumer and industrial products.

With Vietnam’s competitive pricing and improved standards, items such as clothing, footwear, and processed foods—including organic and traditional Vietnamese specialties—have gained increasing traction among Czech consumers.

Moreover, the Czech Republic serves as a strategic gateway to the broader EU market, making it a vital hub for Vietnamese exporters seeking expanded access to European buyers.

Against the backdrop of rising US tariffs, the Ministry of Industry and Trade has identified Eastern Europe as a key growth market, with the Czech Republic standing out as a particularly promising destination for Vietnamese goods.

With trade ties strengthening and businesses leveraging preferential tariffs, Vietnam’s exports to the Czech Republic are expected to maintain a strong growth trajectory, further solidifying Vietnam’s foothold in the European market.

-Vũ Khuê

During five days from April 30 to May 4, Quang Ninh welcomed over 1.1 million tourists, a 112% increase compared to the same period in 2024, with international visitors estimated at 102,000.

During the April 30 - May 1 holidays, Quang Ninh province and Hai Phong city recorded a sharp increase in tourist arrivals, with tourism revenue reaching trillions of Vietnamese dong, further solidifying their status as leading tourist destinations in Vietnam.

According to the Quang Ninh Provincial Department of Culture, Sports and Tourism, in five days (April 30 - May 4), the province welcomed over 1.1 million tourists, a 112% increase compared to the same period in 2024, with international visitors estimated at 102,000.

Total tourism revenue was estimated at VND3.1 trillion (over $120 million), 1.4 times higher than the same period last year, bringing Quang Ninh’s tourism industry closer to its 2025 target of VND55 trillion (nearly $2.12 billion).

During the holiday period, Quang Ninh hosted more than 40 tourism, cultural, artistic, and sports events to enhance visitor experiences.

In Hai Phong, a quick report from the Department of Culture, Sports and Tourism stated that during this year's April 30 - May 1 holiday, the city welcomed approximately 780,000 visitors, a 39.28% increase compared to 2024. Of these, domestic visitors reached 751,000, while international arrivals totaled 29,000.

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According to the Prime Ministerial dispatch, dated May 5, 2025, the nationwide launch of major national projects in celebration of the 80th anniversary of National Day is scheduled for August 19, 2025.

Prime Minister Pham Minh Chinh has issued Official Dispatch No.57/CD-TTg, dated May 5, 2025, which sets out detailed plans for a series of ground-breaking and inauguration ceremonies for major national projects, along with a large-scale exhibition highlighting Vietnam’s socio-economic achievements in celebration of the 80th anniversary of National Day (September 2, 1945 – 2025).

Earlier on April 19, a massive launch of 80 major projects across the country was held to celebrate 50th anniversary of the liberation of the south and national reunification.

Under the Prime Minister’s directive, as outlined in Official Dispatch 57, the second nationwide launch is scheduled for August 19, 2025, combining in-person and virtual ceremonies for significant infrastructure projects across all regions.

-Phạm Long

Chan May Port is set to become one of Vietnam's major seaports, projected to handle 8.9 - 10.2 million tons of cargo per year by 2030.

The Hue City People's Committee has submitted a proposal to the City People's Council to adjust the sub-area development plan for Chan May Port, expanding its planned area from 702 ha to 1,160 ha.

This adjustment aims to develop an international seaport in the area.

Chan May Port is designed to accommodate general cargo and bulk carriers with a deadweight tonnage (DWT) of 150,000 - 200,000 tons, or larger when technical conditions allow. Additionally, the port will be capable of receiving container ships with a capacity of up to 4,000 TEUs, international passenger ships up to 225,000 GT, and liquid/gas cargo ships with a deadweight tonnage of up to 150,000 tons.

As a gateway to the East Sea (internationally known as the South China Sea), Chan May Port facilitates connectivity along the East-West Economic Corridor, serving as a key trade link between Central Vietnam, Central and Lower Laos, Myanmar, and Northeast Thailand. The port is also an important hub on the maritime route connecting the Philippines, Singapore, and Hong Kong (China).

Currently, Chan May Port is one of the largest ports in the Central region capable of receiving large vessels, handling ships up to 30,000 DWT and passenger ships of 100,000 GRT. Since its operation, the port has processed over 12 million tons of cargo and 312,000 cruise tourists, with an import-export turnover through the port estimated at over $1 billion.

According to the master plan for Vietnam’s seaport system (2021-2030), with a vision to 2050, Chan May Port is set to become one of Vietnam's major seaports, projected to handle 8.9 - 10.2 million tons of cargo per year by 2030. Its development is expected to enhance the competitiveness of the Central region and promote the socio-economic growth of Hue City.

-Nguyễn Thuấn

The port contributes approximately VND18 trillion (nearly $693 million) annually to the central province's budget.

With approximately VND18 trillion (nearly $693 million)  annually contributed from its revenue of crude oil imports to Thanh Hoa province's budget in recent years, accounting for about 30% of its total budget revenue, Nghi Son Port has become a spotlight in the central province. 

This underscores the critical role of the seaport system, particularly Nghi Son Port, in generating sustainable resources for local economic development. Beyond budget balancing, the port also opens new avenues for the province to promote trade and investment.

However, the port faces several challenges. The transportation infrastructure lacks direct connecting routes between the port, industrial zones, and economic centers. Additionally, planning and investment in wharf construction remain slow, with some projects still awaiting approval or in the implementation phase. The container terminals have yet to receive full investment, and there is insufficient land for a modern logistics center to store, preserve, and circulate goods. Furthermore, the shortage of high-quality human resources in the logistics sector remains an issue.

As a result, goods exported through Nghi Son Port do not yet include Thanh Hoa province’s key industrial products, such as textiles and footwear. Meanwhile, the port has not attracted many international container shipping lines.

To address these limitations, the locality is implementing projects to upgrade transportation infrastructure, train human resources, and attract investment in the logistics sector. The completion of container terminals and development of logistics services will help Nghi Son Port maximize its potential and evolve into a modern logistics hub in the region.

According to the provincial authorities, the general cargo area of Nghi Son Port currently has 22 wharves, with 13 completed and in operation, while seven wharves are under construction.

-Nguyễn Thuấn

The project's objective is to develop and operate industrial park infrastructure, focusing on supporting industries.

The People's Committee of central Thanh Hoa province has approved the investment policy and investor selection for Thang Long Thanh Hoa Industrial Park (Phase 1), with a total investment capital of nearly VND2.918 trillion (over $112 million).

The project, invested in by Sumitomo Corporation (Japan), covers an area of 167 ha in four communes, namely Dong Yen and Dong Van (Thanh Hoa city), and Dong Tien and Dong Thang (Trieu Son district).

Sumitomo Corporation contributes 15% of the total investment capital, and the remainder will be mobilized from other sources.

The operating term of the project will be 50 years, starting from the date of land allocation or lease by the state.

The project's objective is to develop and operate industrial park infrastructure, focusing on supporting industries, in line with the development strategy of the North Central and Central Coast region of Vietnam and the Government’s plan for supporting industry expansion.

Regarding implementation progress, the investor must complete capital contribution within 90 days from the date on which the Enterprise Registration Certificate is issued.

The capital mobilization process must be completed within 36 months from the land handover date, while construction and commissioning must also be completed within 36 months from the date of land receipt.

-Thiên Anh

The risk TiLV infection from importing tilapia fillets is negligible, according to Brazilian authorities.

The Brazilian Ministry of Agriculture and Livestock (MAPA) has lifted a suspension on Vietnamese tilapia fish imports, according to the Vietnam Trade Office in Brazil.

Previously, in February 2024, the MAPA decided to temporarily suspend the import of Vietnamese tilapia to review the risk of TiLV (Tilapia tilapinevirus) infection. From November 2023 to February 2024, Brazil granted 22 import licenses for tilapia fillets from Vietnam and rejected two others.

The Brazilian government said that allowing tilapia fish imports from Vietnam is an irreversible decision and is part of its negotiations in late March to open the beef market in Vietnam. The MAPA affirmed that this import authorization does not affect the high standards of national health defence.

Based on the Import Risk Analysis (ARI) conducted following warnings from the domestic fisheries industry in 2024 regarding the potential introduction of TiLV through imports, the MAPA concluded that the risk of importing tilapia fillets is negligible.

The restoration of Vietnamese tilapia fish exports to Brazil is expected to contribute to increasing the bilateral trade between the two countries, towards the two-way trade turnover target of $15 billion by 2030.

 

-Vũ Khuê

During their talks in Hanoi, the two Presidents pledge to expand cooperation in important fields such as agriculture, food security, science and technology, education, and tourism.

State President Luong Cuong and visiting Sri Lankan President Anura Kumara Dissanayaka pledged to take breakthrough measures to increase two-way trade and investment, aiming for bilateral trade turnover of $1 billion, during their talks held in Hanoi on May 5.

The two leaders agreed to expand cooperation in important fields such as agriculture, food security, science and technology, education, and tourism.

They agreed to promote the signing of economic, trade and investment cooperation agreements, and facilitate market access for each country’s competitive goods to diversify supply chains.

They also vowed to strengthen business links, facilitate trade exchanges, and encourage airlines of Vietnam and Sri Lanka to open direct flights linking the two countries.

Following the talks, the two Presidents witnessed the signing of five cooperation agreements in the fields of diplomacy, trade, customs, agriculture, and machinery manufacturing.

-Tiến Dũng

The Ministry of Finance has called for a major review of the Law on State Budget to boost transparency and public involvement.

The Ministry of Finance (MoF) recently presented a proposal to the government on a comprehensive overhaul of the Law on State Budget, aiming to foster transparency and encourage public involvement. The new approach would allow citizens to contribute their opinions and actively monitor the allocation and use of public funds at all levels.

In its proposal, the MoF highlighted that after more than eight years of implementation, from 2017 to 2025, the Law on State Budget has achieved notable results. During its execution, however, several challenges and limitations have emerged that call for a thorough review and adjustments to ensure it aligns more closely with the country’s evolving needs.

Five key objectives

To enhance the effectiveness of the Law on State Budget, the MoF proposes a comprehensive revision focused on achieving five key goals.

The first is to reform the revenue-sharing mechanism between the central and local budgets, ensuring fairness, transparency, and public accountability. This will not only strengthen the central budget’s leadership role but also empower local budgets to take on more autonomy and responsibility. In its proposal, the MoF outlines these five goals while also opening the door for public participation. Citizens will have the opportunity to provide feedback and actively monitor how the State budget is allocated, managed, and used.

The second goal is to further clarify the roles and responsibilities of central and local governments. Budgetary tasks will be more closely tied to the rights and duties of each level, with the most capable and efficient levels entrusted with responsibility for execution.

The third is to overhaul the budget allocation process for agencies and units, ensuring full transparency. By decentralizing the creation of fiscal policies, the proposal aims to eliminate outdated “request and approval” practices that often lead to inefficiencies and corruption, streamlining budget management.

The fourth focuses on enhancing oversight by the National Assembly, city and provincial People’s Councils, inspection bodies, audit agencies, the Vietnam Fatherland Front, political and social organizations, and the public. The proposal aims to delegate more powers to the government and local authorities in executing State budgets, ensuring accountability and effective governance.

The fifth and final goal is to drive a major restructuring of the State budget. By cutting down on routine expenditures and boosting investment for development, the goal is to ensure savings, efficiency, transparency, and heightened accountability among all budgetary units.

Enhancing transparency

In the draft amended Law on State Budget, the MoF proposes more detailed regulations on the entities responsible for publicizing the State budget and the content that should be disclosed.

Entities required to disclose the State budget under the proposal include budgetary units, organizations receiving State budget support, and, additionally, State financial funds outside the budget.

The proposal clearly defines the disclosure content for each entity responsible for transparency. It also includes new regulations requiring the disclosure of conclusions from audit agencies as well as the results of the implementation of audit findings on the State budget, except for content that is legally exempt from disclosure.

The MoF said its proposal aims to align with international standards on budget transparency and accountability, helping citizens access comprehensive and timely information on the State budget while enabling them to contribute their feedback and oversee the allocation, management, and use of State funds.

To facilitate easier and more effective access to information by organizations and individuals overseeing the budget, the draft proposes that agencies and units with electronic portals publicly disclose the State budget on their official websites.

The draft also removes the regulation on the timeframe for budget disclosure and recommends that the government issue specific regulations to ensure flexibility in implementation.

 

Based on a review of 13 years of implementation, to address the limitations and shortcomings of the Law on State Budget 2002, the Law on State Budget 2015 was approved by the 13th National Assembly at its ninth session on June 25, 2015, and came into effect starting from the 2017 fiscal year. After the Law was passed, relevant authorities issued full resolutions, decrees, and circulars to ensure a comprehensive legal framework and organized training and communication efforts for the law’s implementation starting from the 2017 fiscal year.

Over more than eight years of implementation, from 2017 to 2025, the Law on State Budget 2015 was effectively integrated into practice, enabling unified management of national finances, improving the proactive role and accountability of agencies and organizations in managing and using the State budget, strengthening financial discipline, ensuring the efficient and economical use of State funds and assets, and increasing accumulation to support the country’s industrialization and modernization in line with socialist orientations. It has helped meet economic and social development requirements, improve people’s living standards, and ensure national defense, security, and foreign relations.

 

 

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-Tùng Thư

VPBank raises $1 billion in a syndicated loan, marking a major milestone in sustainable finance and reinforcing its commitment to ESG and its leadership in Vietnam’s green finance sector.

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has successfully executed a landmark international syndicated loan transaction with an initial value of $1 billion, accompanied by an upsize option based on the bank’s future funding requirements.

The facility was arranged, underwritten, bookrun, and co-financed by a syndicate of prominent global financial institutions, including Sumitomo Mitsui Banking Corporation (SMBC), Standard Chartered Bank, MUFG, ANZ, Cathay United Bank, Commerzbank AG, CTBC Bank, Mashreq Bank, and State Bank of India.

This transaction represents the largest syndicated loan ever secured by a Vietnamese bank, and also stands as the most significant foreign loan to date dedicated specifically to advancing sustainable finance in Vietnam.

The transaction reflects VPBank’s ongoing efforts to broaden access to international capital to fund its sustainable development goals. It also highlights the strengthening strategic collaboration between VPBank and SMBC, its strategic investor, as both parties continue to set new benchmarks for sustainable finance in the Vietnamese market.

The deal follows a series of successful sustainable financing initiatives by VPBank in recent years, pushing the envelope in terms of scale, impact, and international reach. Since 2020, VPBank has mobilized approximately $2.8 billion in sustainable capital, channeled into supporting women-led businesses, green projects, and socially responsible initiatives.

“This landmark transaction is a source of great pride for VPBank, as it not only sets a record in terms of value but also demonstrates our unwavering commitment to accompanying Vietnamese enterprises and the broader economy on the path toward sustainable development,” stated a representative from VPBank. “The strong participation of leading global financial institutions is a clear reflection of their growing confidence in VPBank’s financial strength, long-term vision, and brand credibility on the international stage.”

The successful syndication comes on the back of a series of high-level investor roadshows hosted by VPBank in early 2025, held in global financial centers such as Singapore, Taiwan (China), and notably Dubai - the Middle East’s leading financial hub. These efforts aimed to attract institutional investors’ attention to Vietnam’s sustainable finance narrative.

Of note, the Dubai event enabled direct engagement with investors from the Gulf Cooperation Council (GCC) - an alliance comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates - regions with ample financial resources and a growing appetite for green and sustainable finance.

The $1 billion syndicated loan is not only a major financial milestone for VPBank, but also serves as a powerful reaffirmation of its Environmental, Social, and Governance (ESG) vision: Prosperity through Sustainability.

With participation from some of the world’s most reputable banks, and growing interest from both traditional and emerging capital markets, including the Middle East, VPBank is well-positioned to harness this momentum, expand its global capital-raising capacity, strengthen its capital base, and better support enterprises pursuing sustainable growth.

About VPBank

Founded as one of Vietnam’s earliest joint-stock commercial banks, VPBank has built a solid track record over the past three decades. Today, it ranks among the country’s top commercial banks by total assets, efficiency, and profitability. The bank maintains leadership in the retail and SME segments and is at the forefront of digital transformation, delivering fast, convenient financial solutions to customers.

As of December 31, 2024, VPBank’s consolidated assets surpassed VND920 trillion ($36.8 billion), making it one of the largest joint-stock commercial banks in Vietnam. Its equity stood at over VND147 trillion ($5.88 billion), the highest among privately owned banks nationwide. The bank not only meets but exceeds regulatory capital requirements, having built a solid balance sheet to support future growth.

For more information, please visit: https://www.vpbank.com.vn

About SMBC

Sumitomo Mitsui Banking Corporation (SMBC) is a major Japanese commercial bank with a wide global footprint across 39 countries and territories, covering the Americas, Europe, the Middle East, Africa, Asia, and Oceania.

Together with its affiliates, SMBC provides a full spectrum of financial services, including deposit-taking, lending, securities brokerage, investment banking, foreign exchange, custody, guarantees, and other commercial banking solutions. The bank holds long-term credit ratings of “A” from Fitch Ratings and SP Global, and “A1” from Moody’s Investors Service.
For more information, please visit: https://www.smbc.co.jp/global

-Diep Linh

Vietnam's PMI Index in April dropping below the 50.0 nochange mark.

The SP Global Vietnam Manufacturing Purchasing Managers' Index (PMI) dropped back below the 50.0 nochange mark in April, after having signaled growth for the first time in four months during March, according to the latest report released by the SP Global on May 5.

At 45.6, the latest reading was down from 50.5 and signaled a marked monthly deterioration in the health of the sector. In fact, business conditions worsened to the largest extent since May 2023.

Manufacturing new orders decreased markedly in April, reversing the expansion seen in March. Moreover, the rate of contraction was sharp and the fastest in almost two years. Respondents indicated that the drop in new orders reflected the introduction of tariffs by the US and fluctuations in international market conditions.

New export orders fell even more quickly than total new business amid the declaration of tariffs. The sixth successive decrease in new business from abroad was the most marked since June 2023. Tariffs, and the reduction in new orders led to a renewed fall in production following a rise in March. The decline in output was marked and the fastest since January 2023.

Manufacturers were also concerned about the impact of tariffs on production in the months ahead. Business confidence dropped sharply and was the lowest since August 2021.

-Huyền Vy

In a recent article, titled “Institutional, Legal Breakthroughs for Nation’s Rise”,  Party General Secretary To Lam requests breakthroughs in institutions and laws for the country to enter a new era – the era of the nation’s rise.

Following is the full text of the article through the translation by the Vietnam News Agency:

INSTITUTIONAL, LEGAL BREAKTHROUGHS FOR NATION’S RISE

To Lam

General Secretary of the Communist Party of Vietnam Central Committee

Throughout the course of leading the Vietnamese revolution, our Party has always deeply recognised the vital role of institutions and laws in the development of the country. At the same time, the Party has introduced numerous guidelines and policies aimed at improving the institutional and legal framework in accordance with each historical period, and has achieved many important results. Theoretical mindset and awareness about the socialist rule-of-law state have been continuously improved. Our country has developed a relatively comprehensive, public, transparent, and accessible legal system that fundamentally regulates all aspects of social life, including the Constitution, major codes and laws in civil affairs, business, trade, administration, criminal affairs, litigation, and dispute solution, along with approximately 300 other valid laws and legal codes, creating a legal foundation for socio-economic development, national defence and security assurance, and international integration. It can be affirmed that over the past 80 years, since the establishment of the worker-peasant state, under the leadership of the Party, our country has achieved independence, reunification, freedom, democracy, peace, stability, and development because we have had the Constitution and have successfully implemented the Constitution and laws.

However, we should frankly acknowledge that the work of law-making and law enforcement still faces numerous limitations and shortcomings. Some of the Party’s policies and orientations have not been institutionalised in a timely and comprehensive manner. The mindset of law-building in certain areas remains overly focused on management. The quality of laws has not kept up with practical requirements. There are still overlapping, contradictory, and unclear regulations that hinder implementation and are not conducive to fostering innovation, attracting and unlocking investment resources. The decentralisation and delegation of authority are not strong enough; administrative procedures remain cumbersome and “full of twists and turns”; and compliance costs remain high. Law enforcement continues to be a weak link, lacking timely and effective policy response mechanisms. The research and issuance of policies and laws to address emerging issues are slow, and the legal framework has yet to create favourable conditions to promote new drivers of growth.

Currently, the world is undergoing epochal changes with rapid, complicated, unpredictable and difficult-to-forecast developments. Along with that, the scientific and technological revolution is opening up boundless development space grounded on knowledge and human potential. Domestically, after nearly 40 years of implementing the Doi Moi (Renewal) cause, our country has achieved great and historically significant accomplishments. From a poor, backward country heavily devastated by war, besieged and isolated, Vietnam has now become a development model for many countries in the world, "everyone has food to eat, clothes to wear, and access to education". In 2024, Vietnam’s economy ranked 32nd in the world. Economic, political, cultural, social, scientific - technological, national defence and security capacities have been continuously strengthened. Foreign relations have expanded, and the nation’s international position and prestige have been steadily enhanced.

To realise the nation's aspiration to rise up, we must address numerous tasks, among which a very central priority is to continue improving institutions and laws to fully unleash productive forces, unlock all available resources, harness the country’s potential and strengths, and seize every development opportunity. Therefore, along with the ongoing revolution on streamlining the organisational apparatus and striving for “double-digit” economic growth, the work of law-making and law enforcement must undergo a fundamental transformation. In response to this requirement, on April 30, 2025, amidst the solemn and heroic atmosphere of the 50th anniversary of national reunification, the Political Bureau issued Resolution No. 66-NQ/TW on “Renovating the law making and enforcement process to meet the national development requirements in the new era” - a particularly important thematic resolution containing many strategic decisions. The main objectives of the Resolution are to build a truly democratic, equitable, safe, and transparent society where the people are truly the masters of the country, making decisions on major national matters; to manage and govern a modern society; to create development; and to improve all aspects of life for the people, and firmly protect the socialist Vietnamese Fatherland.

The Resolution sets the target that, by 2030, Vietnam will have a democratic, equitable, synchronic, unified, transparent, and feasible legal system, supported by a strict and consistent enforcement mechanism that will ensure a solid legal foundation for the normal, uninterrupted, and smooth operation of agencies after the apparatus restructuring; solve obstacles arising from reality; pave the way for development creation; and mobilise all citizens and businesses to participate in socio-economic development so that by 2030, Vietnam will become a developing country with modern industry and upper-middle income. In 2025, the “bottlenecks” caused by legal regulations will be fundamentally solved. By 2027, the amendments, supplements, and issuance of new legal documents will be completed to ensure a synchronic legal foundation for the operation of the state apparatus under a three-level administration model. By 2028, the system of laws on investment and business will be perfected to help Vietnam’s investment environment rank among the top three in ASEAN. By 2045, Vietnam will have a high-quality, modern legal system that approaches advanced international standards and practices and is suitable for the country's reality and will be enforced strictly and consistently, respect, ensure and effectively protect human rights and civil rights. Respecting the Constitution and the law will become the standard of conduct for all subjects in society, along with modern national governance with a streamlined, efficient, and effective state apparatus.

According to Resolution No. 66-NQ/TW, the reform of law making and enforcement in the coming period should closely follow five guiding principles, with the top priority being to "ensure the Party's comprehensive and direct leadership in the law-making work and strengthen the Party’s leadership in law enforcement.” The Resolution also defines “law making and enforcement as the ‘breakthrough of breakthroughs’ in improving the national development institutions in the new era; and as a key task in the process of building and perfecting the Vietnamese socialist rule-of-law state of the people, by the people, and for the people, and under the Party’s leadership.” The Resolution emphasises that law-making must closely follow reality and be “grounded on Vietnam’s practical conditions,” selectively absorb the quintessence of human values, ensure systematicity, seize all opportunities, pave the way, and unlock all available resources. Institutions and laws should become a competitive advantage, a solid foundation, and a powerful driving force for development, creating room for double-digit economic growth, improve people's living standards, and ensure national defence, security, and foreign affairs. The Resolution highlights the improvement of the effectiveness of law enforcement, with a focus on fostering a culture of legal compliance. It affirms that investing in the policy and law-making work is an investment in development.

To bring Resolution No. 66-NQ/TW to life and achieve tangible results, the entire Party, people, and army must thoroughly grasp and effectively carry out the tasks and solutions in the Resolution, especially the following key tasks and solutions:

First, it is a must to ensure the Party’s comprehensive and direct leadership in law-making, while fully promoting Party characteristics in law building and enforcement. Party committees at all levels must comprehensively and directly lead the institutionalisation of the Party’s guidelines and policies into laws, and strengthen the inspection and supervision of this process. Each official and Party member must set an example, take the lead in complying with and adhering to the law, and spread the spirit of respecting the Constitution and law. It is essential to identify the building and improvement of institutions and laws, as well as the inspection and supervision of law enforcement, as a key and regular task for ministries and centrally-run agencies. The heads of ministries and ministerial agencies must take direct leadership and oversight of law-making activities and be primarily responsible for the quality of policies and laws within their ministries or agencies’ jurisdiction.

Second, it is necessary to renew the mindset and orientation of law-making in a way that both ensures state management and encourages creativity, unleashes all production potential, and unlocks all resources for development. Law-making must fully, correctly, and promptly institutionalise the Party’s guidelines and policies; be based on the overall interests of the country; decisively abandon the mindset of "if it can't be controlled, then ban it"; promote democracy, and respect, ensure, and effectively protect human rights and citizens' rights; and ensure a balance between the restriction of rights and the legitimate benefits achieved. Law provisions must be stable, simple and easy to implement, and place people and businesses at the centre. Emphasis should be placed on proactively studying strategies and policies early, based on practical experience and global knowledge, contributing to enhancing predictability and improving the quality of law-making. Alongside certain codes and laws regulating human rights, citizens' rights, and judicial procedures that need to be specific, other laws, particularly those governing development-related matters, should primarily set out framework issues and principles within the scope of the National Assembly’s authority. Meanwhile, practical and frequently changing matters should be assigned to the Government, ministries, agencies, and localities to regulate, ensuring flexibility and alignment with reality.

In the short term, it is necessary to focus on building a favourable, open, transparent, safe legal environment with a low compliance cost; thoroughly reduce and simplify unreasonable investment, business, professional practice conditions and administrative procedures; and promote innovative startups while improving the investment and business environment. It is a need to ensure the genuine freedom to do business, the right to property, and the freedom of contract; equality between businesses of all economic sectors; and recognise the private economic sector as the most important driving force of the national economy. Focus should be placed on developing laws related to science, technology, innovation, and digital transformation. Urgent actions are needed to amend and supplement legal documents to meet the requirements of streamlining the organisational structure of the political system, restructuring administrative units, while maximising decentralisation and delegation of authority based on the principle "localities decide, localities implement, localities take responsibility," and restructuring new development spaces in each area. Another task is to develop and improve the laws on the organisation and operation of judicial and judicial support agencies in line with the goals and directions of judicial reform.

Third, breakthroughs should be created in law enforcement. It is important to strongly promote the spirit of serving the public, a development-oriented mindset, and actions for the common good among officials, civil servants, and public employees. Effective law enforcement needs to be prioritised to promote socio-economic development, science, technology, innovation, digital transformation, and other vital areas of the public. Focus should be given to building a culture of legal compliance, and ensuring the rule of Constitution and the law become the standard of conduct for all subjects in society. It is necessary to pay due attention to legal interpretation and guidance on law implementation. While dialogue as well as the reception and openness to feedback and recommendations should be increased, law-related difficulties and problems facing individuals, organisations, businesses, and localities be promptly resolved. In addition, it is a need to regularly evaluate the effectiveness of laws after their promulgation, promote the application of technology, and build a mechanism for identifying promptly, handling comprehensively and synchronously, and removing "bottlenecks" caused by legal regulations as soon as possible.

Fourth, the effectiveness of international legal cooperation and international law needs to be improved. The capacity of Vietnamese agencies and organisations must be enhanced to ensure the full implementation of international legal obligations. The country should efficiently participate in the building of international institutions and laws, along with the shaping of the international legal order. Emerging international legal issues need to be efficiently handled, especially those involving international investment and trade disputes. A special mechanism should be implemented to attract, recruit, train, and foster highly qualified human resources with practical experience in international law and international legal cooperation, along with in resolving international disputes; while a strategy be developed to increase the presence of Vietnamese experts in international legal organisations and international jurisdiction bodies. International cooperation in legal and judicial affairs also need to be expanded.

Fifth, breakthrough solutions should be carried out to improve the quality of legal human resources; digital transformation accelerated, artificial intelligence (AI) and big data applied, and a special financial mechanism established for law making and enforcement activities. It is necessary to implement specific and outstanding policies while applying appropriate remuneration and contract regimes to attract and improve the quality of human resources participating in law-making and enforcement tasks. More attention should be paid to improving the quality of strategy, policy, and law research institutions of central agencies. Resources should be prioritised for building and developing information technology infrastructure and big data systems, as well as applying digital technology and AI to serve the innovation and modernisation of law making and enforcement. The project on building a big legal database and the one on applying AI to the building, checking and review of legal documents must be immediately implemented. It is important to reform the mechanism for allocating, managing, and using the budget for law-making activities on the principle of timeliness, accuracy, and adequacy, and to associate spending with the results and products of each task and activity. A fund should be established to support the building of policies and laws.

Quality institutions and laws, consistent with development requirements in reality and the aspirations of the people, are the decisive factors for the success of each nation. Therefore, for the country to advance and develop strongly, we must resolutely say “no” to any institutional and legal limitations or shortcomings; make no compromise with any weaknesses in policy design, law drafting, or enforcement. With the mettle and valuable experiences that the Party has accumulated over 95 years of leading the nation's revolution, the experiences gained during 80 years of leading the State in institutional and legal building, especially during 40 years of carrying out the Doi moi (Renewal) process, together with the participation of the entire political system and the support of the whole people, we will certainly succeed in reforming the building and enforcement of laws, helping the country progress into a new era – one of prosperity, civilisation, prosperity and development, building our country "ten times better than it is today" as Uncle Ho once wished.

-

The disbursed capital reaching $1.84 billion, up 60% against the first quarter.

The disbursement of public investment capital in April was estimated at over VND48.2 trillion ($1.84 billion), accounting for 37.5% of the total disbursement in the first 4 months of the year, and equivalent to 60% of the total disbursement in the first quarter, according to the Ministry of Finance (MoF).

The figure brings the total amount of public capital disbursement in the first four months of the year to more than VND128.5 trillion ($4.92 billion), equivalent to 14.32% of the annual plan and 15.56% of the target set by the Prime Minister.

The MoF reported that 10 ministries and government agencies and 35 centrally-run localities registered disbursement rates higher than the national average.

Total public investment capital for 2025 is estimated at over VND923 trillion ($35.3 billion).

 

-Phương Linh

Ajman Free Zone strengthens ties with Vietnam, offering a gateway for local businesses to expand into the UAE and MENA markets.

In a move that underscores the deepening economic ties between Vietnam and the United Arab Emirates (UAE), senior representatives from Ajman Free Zone (AFZ) are in Vietnam this week to explore new avenues for bilateral cooperation. The flagship forum, Vietnam – UAE Business Bridge: Unlocking Opportunities with Ajman Free Zone, held at the Sheraton Saigon Grand Opera Hotel, brought together over 300 business leaders, policymakers, and industry experts from both countries.

Jointly organized by InnoLab Asia and Ajman Free Zone, the event marked a significant milestone in strengthening commercial collaboration between Vietnam and the broader Middle East and North Africa (MENA) region. It served as a strategic platform to boost investor confidence, open new trade corridors, and promote the UAE, particularly Ajman Free Zone, as a dynamic hub for Vietnamese enterprises seeking international growth.

A major highlight of the event was a Fireside Chat featuring H.E. Ismail Al Naqi, Director General of the Free Zones Authority of Ajman, and Mr. Huynh Cong Thang, Chairman CEO of InnoLab Asia. The discussion focused on the UAE’s economic diversification strategy, with a spotlight on the role of free zones like Ajman in attracting global investment.

Adding to the practical value of the event, Ms. An Tran, Senior Channel Account Officer at Ajman Free Zone, delivered a detailed presentation on how Vietnamese businesses can establish a presence in the free zone. She outlined AFZ’s competitive advantages, including tax incentives, simplified licensing procedures, and robust support services.

Through real-life case studies, Ms. Tran emphasized how AFZ is uniquely positioned to support small and medium-sized enterprises (SMEs) from Southeast Asia in accessing the Middle East and beyond.

In a roundtable discussion moderated by Ms. Linh Hoang, CEO of Lead The Change, panelists explored the strategic synergies between the two markets. Participants included Mr Pham Le Nhat Quang (General Partner Executive Investment Committe Member of ABB Private Equity), Mr. Lam Ngoc Cuong (Board Chairman, Jemmia Diamond), and Ms. An Tran (Senior Channel Account Officer at Ajman Free Zone).

The conversation focused on two-way market access, investment trends, and sector-specific opportunities, ranging from logistics and manufacturing to technology and green energy. Panelists also discussed how Ajman Free Zone could become a critical gateway for Vietnamese companies eyeing expansion into the Middle East.

Concluding the forum was a Memorandum of Understanding (MOU) signing ceremony between InnoLab Asia and several Vietnamese business associations. The MOU established the Vietnam–UAE Trade Investment Exchange (VUTIX), a long-term platform aimed at facilitating trade, investment, and business development between the two countries.

About Ajman Free Zone (AFZ)

As the second-oldest free zone in the UAE and recipient of the 'Free Zone of the Year' at the Enterprise Agility Awards 2024, Ajman Free Zone (AFZ) stands as a strategic hub for global businesses, offering a favorable business environment, attractive tax policies, state-of-the-art infrastructure, and comprehensive support services. Over the past 37 years, AFZ has successfully supported more than 20,000 businesses from 165 countries, affirming its role as a dynamic international commercial hub in the Middle East.

About InnoLab Asia

InnoLab Asia is a Vietnam-based innovation and expansion consultancy that helps local businesses access global markets. The company specializes in legal and structural frameworks for business setup, market entry strategies in the UAE/MENA, and capital investment support. Its mission is to equip Vietnamese enterprises with the tools and connections needed to thrive globally.

 

For more information:

InnoLab Asia

https://innolab.asia
partner@innolab.asia
(+84) 933 574 688

-Diep Linh

Presenting a Government report to the National Assembly’s 9th session on May 5, PM Chinh reiterated the 2025 target of 8% GDP growth, an economic size exceeding $500 billion, and per capita GDP above $5,000.

Prime Minister Pham Minh Chinh presented a supplementary assessment report on the socio-economic development and state budget in 2024, along with updates on the performance of the socio-economic development and state budget tasks in early 2025 at the 15th National Assembly’s 9th session that opened in Hanoi on May 5, according to a report from the Vietnam News Agency.

In his report, PM Chinh announced that Vietnam had met or surpassed all 15 key targets in 2024, with 12 exceeding initial projections. A standout achievement was the rebound in labor productivity growth, which had lagged for three years but finally outstripped its goal.

The economy grew by 7.09%, among the highest rates in the region and the world, propelling Vietnam’s economic size to $476.3 billion and its global ranking to 32nd, up three places. Per capita GDP reached $4,700, inching closer to the upper-middle-income threshold.

The PM highlighted the momentum in early 2025, with first-quarter GDP growth estimated at 6.93%, the strongest start to a year in the 2020-2025 period. Macroeconomic conditions remained stable with inflation well-controlled and major economic balances secured. State budget revenue in the first four months topped VND944 trillion (nearly $36.4 billion), making up 48% of the annual target and marking a 26.3% year-on-year increase. Foreign trade value exceeded $275 billion, up 15%.

He also lauded drastic and coordinated progress in the country’s three strategic breakthroughs, while social security, public safety, and inclusiveness have been guaranteed in the spirit of leaving no one behind.

Infrastructure development has accelerated toward greater modernity, prioritizing key projects such as expressways, high-speed rail, airports, seaports, and infrastructure in education, healthcare, and sports. Vietnam aims to have over 3,000 km of expressways and 1,000 km of coastal highways later this year, partly via fast-tracking key sections of the North–South expressway for 2021-2025 and East–West expressways.

Looking ahead, he reiterated the 2025 target of 8% GDP growth, an economic size exceeding $500 billion USD, and per capita GDP above $5,000. To achieve this, he urged decisive action, including flexible and proactive monetary and fiscal policies, a potential budget deficit adjustment to 4-4.5% of GDP, and full disbursement of public investment capital for strategic projects. Emphasis is being placed on expediting site clearance, compensation procedures, and ensuring a stable supply of construction materials for national key infrastructure projects. Vietnam will also navigate US tariff policies while advancing trade frameworks to protect its interests without violating international commitments.

Domestically, the Government will aggressively realize and institutionalize the Politburo's recent resolutions on breakthroughs in sci-tech, innovation and national digital transformation; global integration, overhaul of law building and enforcement, and development of the private sector. In 2025, Vietnam aims to review and legalese pilot models and special policies through laws, while expanding decentralization and delegation of power. Targets for administrative reform include scrapping at least 30% of unnecessary business conditions, cutting 30% of processing time for administrative procedures, and reducing 30% of related costs.

The PM called for deep reform of public governance and public consultation on the revision of the Constitution 2013. A key economic pivot will be the restructuring of the national growth model; placing sci-tech, innovation, and digital transformation at the heart of Vietnam’s development engine. State-owned enterprises are also being urged to improve efficiency and pool resources for large-scale, high-impact projects.

Ministries, agencies, and localities must develop a quality workforce aligned with future market demands, especially in strategic areas such as artificial intelligence, data science, semiconductor, high-speed rail construction and operation, and nuclear energy.

One of the most significant social policy shifts announced was the allocation of resources to provide free tuition for preschool and general education students, effective from the 2025–2026 academic year.

In healthcare, he underlined the continued investment in preventive and grassroots healthcare systems. Vietnam is pushing a shift from reactive medical treatment to comprehensive health management, with the long-term goal of offering universal free hospital care to all citizens.

Sci-tech, innovation, and digital transformation remain core pillars across every sector, with the Government pledging expanded support to accelerate breakthroughs and competitiveness in the fourth industrial revolution. Another focus was on cultural development and improving the material and spiritual well-being of its people.

“With a far-sighted vision, bold thinking, and determined action, we must transform challenges into opportunities and driving forces, successfully completing the goals of the 2021–2025 period and emulating to obtain greater achievements to welcome Party congresses at all levels in the lead-up to the 14th National Party Congress”, the PM concluded.

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During 6-day period, airports nationwide handling over 12,610 flights, up19.45% year-on-year.

The air transport sector posted double-digit growth during the recent holidays lasting from April 29 to May 4, according to the Civil Aviation Authority of Vietnam (CAAV).

During the period, airports nationwide handled over 12,610 flights, soaring 19.45% year-on-year.

The airports served 2.09 million passengers, while cargo throughput reached 23,360 tons, up 25.83% and 18.57% compared to the same period last year, respectively.

On average, airports across the country operated over 2,000 flights per day during the period, serving more than 340,000 passengers and processing around 3,800 tons of cargo daily.

During the period, Vietnamese airlines alone transported over 986,000 passengers and more than 6,000 tons of cargo, a year-on-year rise of 29.81% and 3.87%, respectively.

-Huỳnh Dũng

Under the resolution, private economy is defined as the most important driver of the national economy and the pioneering force in science and technology development, innovation and digital transformation.

Party General Secretary To Lam has signed Resolution No. 68-NQ/TW of the Politburo on development of private economy.

Under the resolution, which dated May 4, 2025, private economy is defined as the most important driver of the national economy and the pioneering force in science and technology development, innovation and digital transformation.

The resolution, as quoted by the Government News, noted that the private economy, along with State economy and collective economy, shall play pivotal role in building an independent and self-reliant economy, which would help the country to avoid the risk of falling behind and to rise up to prosperous development.

The fast, sustainable, effective and high-quality development of the private economy shall be the a central, urgent and long-term strategic task, according to the Resolution.

From that perspective, the aforesaid task must be incorporated in national development strategies and policies in order to promote all potentials and strengths and unlock all resources for national development.

The resolution requests that prejudices about the private economy must be completely eliminated. Authorities must nurture and encourage the spirit of entrepreneurship, innovation and respect for businesses and entrepreneurs, it said.

Private enterprises and entrepreneurs shall be free to do business in the domains not prohibited by law, compete equally with other economic sectors in accessing business opportunities and resources such as capital, land, technology, human resource, data and other legitimate resources, the resolution confirmed.

Authorities must create an open, transparent, stable, safe and low-cost environment; formulate breakthrough mechanisms and policies to encourage the private economy in priority areas, scientific and technological research, development and application, innovation, and digital transformation, the resolution noted.

The private economy currently accounts for around 50 per cent of the country's GDP, more than 30 per cent of national budget revenue, and 82 per cent of the total workforce.

The country targets to raise the number of private enterprises to two million by the end of this decade. This economic sector is expected to grow by 10-12 per cent annually and contribute around 55-58 per cent to the national GDP.

By 2045, the number of private enterprises is expected to increase to at least three million and account for over 60 per cent of the country's GDP.

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This figure is up 31 per cent increase compared to the same period in 2024.

Hanoi attracted $64.1 million in foreign direct investment (FDI) in April 2025, according to the capital city's Statistics Office.

This included 33 newly registered projects with a total registered capital of $11.8 million, and 11 projects with adjusted capital totaling $32.5 million; while 23 instances of foreign investors registered to contribute capital or purchase shares, amounting to $19.8 million.

In the first four months of 2025, the city attracted a total of $1.48 billion in FDI, marking a 31 per cent increase compared to the same period in 2024. This comprised 114 newly registered projects with total registered capital of $41 million; 45 projects with capital increases totaling nearly $1.2 billion; and 111 instances of foreign investors registering to contribute capital or purchase shares, reaching $241 million.

In the same period, Hanoi issued business registration certificates for 9,400 newly established enterprises with total registered capital of VND74.7 trillion ($2.87 billion). Additionally, 4,800 businesses resumed operations, up 5.5 per cent year-on-year; 16,800 enterprises registered for temporary suspension, up 18.8 per cent; and 1,900 enterprises were dissolved, up 33.2 per cent.

In order to attract investors, Hanoi has proposed multiple solutions to facilitate business operations, including the development of synchronized industrial infrastructure to meet investor requirements.

The Hanoi Department of Industry and Trade and the Management Board of Hanoi High-Tech Parks and Industrial Zones have been assigned to accelerate the development of high-tech parks, biotechnology zones, industrial clusters, and craft village clusters, following the "smart - green - clean" model.

Additionally, the city is focusing on administrative procedure reform and proactive coordination among departments and sectors to resolve difficulties and obstacles, aiming to complete the development of synchronized industrial infrastructure as soon as possible to attract investors.

Hanoi is also expediting the finalization of the investment promotion list and strengthening investment promotion both at home and abroad, with a particular focus on attracting strategic investors.

Along with that, the city aims to enhance the attraction of foreign direct investment (FDI), foreign indirect investment (FII), and official development assistance (ODA) in line with the new context, while promoting technology transfer, experience exchange, and the effective use of each country’s strengths and resources.

-Phuong Hoa

The bridge is part of the Ring Road No.3 connecting HCM City with neighboring Dong Nai province.

Nhon Trach Bridge, a key part of the Ho Chi Minh City section of Ring Road No. 3, has been technically opened to traffic, connecting the southern metropolis with neighboring Dong Nai province, according to the My Thuan Management Board – the project’s investor.

The bridge is part of the sub-project No.1, known as 1A, of the ring road. The sub-project has a total length of 8.22km, including 6.3km in Dong Nai province and 1.92km in HCM City. Its total investment capital was estimated at VND6.955 trillion ($265 million). 

Of which, the Nhon Trach bridge has a length of 2.6km with an estimated investment capital of VND1.8 trillion ($68.9 million).

The bridge is scheduled to be officially put into operation in June this year.

Once fully operational, the Ring Road No.3 will help to alleviate traffic from HCM City to Long Thanh international airport in Dong Nai province, as well as reduce pressure for the HCMC-Long Thanh-Dau Giay Expressway.

 

-Thiên Ân

A report from the Delegation of German Industry and Commerce in Vietnam noted that the country is seen as a manufacturing stronghold and a strategic alternative hub for German businesses.

German companies continue to view Vietnam as a promising investment destination amid a globally volatile environment, stated the “AHK World Business Outlook - Spring 2025” (the report), released recently by the Delegation of German Industry and Commerce in Vietnam (AHK Vietnam). 

Despite persistent global disruptions, 54 per cent of German businesses operating in Vietnam anticipated an improvement in their business situation over the coming year, according to the report.

Notably, 80 per cent of surveyed firms rated their current business conditions as either “good” or “satisfactory,” reflecting a relatively stable operating environment. This confidence is further evidenced by future plans: 38 per cent of companies intend to increase their investments, while 43 per cent expect to expand their workforce in 2025.

Survey of German businesses in Vietnam (%). Source:  AHK World Business Outlook – Spring 2025

“These figures reinforce Vietnam’s dual role as both a manufacturing stronghold and a strategic alternative hub for German businesses repositioning in the Indo-Pacific region,” the report emphasized.

Several German firms expanded their footprint in Vietnam over the past year. For instance, Ziehl-Abegg inaugurated a $20 million factory in the southern province of Dong Nai, specializing in ventilation and drive technology, while Kärcher opened a $19.4 million cleaning equipment plant in the central province of Quang Nam.

Most recently, in April 2025, the Südwolle Group officially launched its new $21 million dyeing facility in Ninh Thuan, a province in the south central coastal region of the country.

According to data from the Ministry of Finance (MoF), in the first quarter of this year, Germany invested in 7 new projects in Vietnam with a total registered capital of $11.35 million, up 81.2% year-on-year. Accumulately, as of the end of February 2025, Germany has had a total of 490 valid projects in Vietnam, with a total registered investment capital of $2.81 billion.

However, alongside these positive developments, German companies continue to face three key challenges in Vietnam, according to the report.

The first is fluctuating demand. German companies in Vietnam may not be directly affected by declining demand from the United States, but many rely on suppliers or partners serving the US market. This indirect exposure introduces uncertainty in business forecasting, planning, and expansion particularly in manufacturing and trade.

The second challenge lies in economic frameworks. Sudden policy shifts and ambiguities in the legal environment make it difficult for foreign enterprises to commit to long-term decisions.

The third issue is unequal treatment in trade. Some German companies report facing unfair competition, with local businesses receiving preferential treatment. Additionally, rising import taxes have affected firms that export directly to overseas customers and manage logistics and delivery themselves.

Nonetheless, the report underscored that Vietnam’s position as a neutral, ASEAN-based manufacturing hub presents a compelling opportunity. With the EU-Vietnam Free Trade Agreement (EVFTA) in effect, more German firms are looking to deepen their engagement, not only viewing Vietnam as a growing market, but also as a strategic partner in their global supply chain strategies.

-Phuong Hoa