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

As part of its investment attraction strategy, the central province is adjusting land use planning, prioritizing areas for wind and solar energy, and simplifying administrative procedures.

The central province of Quang Tri has restructured its economy, aligning efforts with reducing greenhouse gas emissions, by prioritizing renewable energy development—now a core policy of the province..

By the end of 2024, Quang Tri’s total commercial electricity generation capacity had reached 1,119.5 MW, including 20 wind power plants (742.2 MW), three solar power plants (119.6 MW), 10 hydropower plants (167.5 MW), and 151 rooftop solar power systems (90.7 MW). This figure is more than 2.5 times the 439 MW recorded in 2020, reflecting the rapid expansion of clean energy in the province.

Alongside operational projects, the province is developing 11 wind power projects, seven hydropower projects, a 1,320 MW coal-fired power project, and two gas-fired power projects, all of which have been approved and are under construction. This diversified energy portfolio reinforces a long-term strategy to maintain a balance between energy security and emission reduction.

The surge in renewable energy has placed significant pressure on the transmission system. To address this, the province accelerating the completion of the project of Quang Tri 500kV substation and the line connecting Quang Tri - Vung Ang - Da Nang branching. Additionally, the province has approved the investment policy for the 500 kV Lao Bao Substation and the 220 kV connection line, aimed at preventing grid overload and ensuring stable operation.

As part of its investment attraction strategy, Quang Tri is adjusting land use planning, prioritizing areas for wind and solar energy, and simplifying administrative procedures. The province has also introduced green credit mechanisms, tax exemptions and reductions, and preferential electricity purchase prices to support clean energy projects.

Moreover, Quang Tri actively encourages biomass energy development, promoting the conversion of agricultural and forestry waste into power, contributing to agricultural by-product treatment while generating sustainable clean electricity.

-Nguyễn Thuấn

The road will connect Nam Dinh city in Nam Dinh province to Hoa Lu city in the neighboring province of Ninh Binh,

The northern province of Nam Dinh has proposed an investment policy for the landscape axis road project, which will connect its Nam Dinh city to Hoa Lu city in the neighboring province of Ninh Binh, with a total investment capital estimated at approximately VND 29 trillion (over $1.1 billion).

According to the proposal, the route will span 43.8 km, including a main line of 20.7 km from Ring Road 2 in Nam Dinh city to Dinh Tien Hoang Street in Hoa Lu city, designed for a speed of 120 km/h. The main line will have a cross-section of 130.5 meters, featuring six high-speed lanes and eight parallel lanes.

Additionally, the project includes connection routes totaling 23.1 km, comprising an 18 km expansion of Ring Road 2 in Nam Dinh city and the construction of 5.1 km of branch roads. These sections will be developed according to urban road standards, with eight lanes, a 71-meter cross-section, 10-meter-wide sidewalks on both sides, and a 100-meter land clearance width.

The investment for the project will come from the Nam Dinh provincial budget, revenue from land use rights auctions along the route, and other legal capital sources. The implementation period is scheduled for 2025-2030.

Beyond completing the inter-regional transportation network, the project is expected to unlock socio-economic development opportunities for both Nam Dinh and Ninh Binh provinces. The new route will also connect key industrial zones and tourist areas, forming an inter-regional development axis, advancing sustainable development goals, and improving residents' livelihoods.

-Nguyễn Thuấn

The road will connect Nam Dinh city in Nam Dinh province to Hoa Lu city in the neighboring province of Ninh Binh,

The northern province of Nam Dinh has proposed an investment policy for the landscape axis road project, which will connect its Nam Dinh city to Hoa Lu city in the neighboring province of Ninh Binh, with a total investment capital estimated at approximately VND 29 trillion (over $1.1 billion).

According to the proposal, the route will span 43.8 km, including a main line of 20.7 km from Ring Road 2 in Nam Dinh city to Dinh Tien Hoang Street in Hoa Lu city, designed for a speed of 120 km/h. The main line will have a cross-section of 130.5 meters, featuring six high-speed lanes and eight parallel lanes.

Additionally, the project includes connection routes totaling 23.1 km, comprising an 18 km expansion of Ring Road 2 in Nam Dinh city and the construction of 5.1 km of branch roads. These sections will be developed according to urban road standards, with eight lanes, a 71-meter cross-section, 10-meter-wide sidewalks on both sides, and a 100-meter land clearance width.

The investment for the project will come from the Nam Dinh provincial budget, revenue from land use rights auctions along the route, and other legal capital sources. The implementation period is scheduled for 2025-2030.

Beyond completing the inter-regional transportation network, the project is expected to unlock socio-economic development opportunities for both Nam Dinh and Ninh Binh provinces. The new route will also connect key industrial zones and tourist areas, forming an inter-regional development axis, advancing sustainable development goals, and improving residents' livelihoods.

-Nguyễn Thuấn

The company expects a $900 million cost impact from tariffs in the June quarter, according to Apple CEO Tim Cook.

Apple has announced that the majority of its technology devices shipped and sold in the US market in the second quarter will originate from Vietnam and India, in a move aimed at addressing investor concerns over the impact of tariffs on businesses.

Although most iPhones to be sold in the US are currently manufactured in China, iPhone production in India has surged since the Trump administration imposed reciprocal tariffs and China retaliated with corresponding trade restrictions, posing challenges for Apple. To mitigate risks from the escalating US-China trade tensions, Apple has expanded production operations in India.

Last month, Apple was among the technology companies most affected by its reliance on China’s supply chain.

Apple CEO Tim Cook said the company expects a $900 million cost impact from tariffs in the June quarter. He said most iPhones sold in the U.S. next quarter will be made in India, while nearly all iPads, Macs, Apple Watches, and AirPods will come from Vietnam. 

The current US administration is still considering additional trade measures that could impact technology companies, with Apple facing a 20% tariff on imports from China and a 10% tariff on goods imported from India into the US market.

-Phạm Vinh

Focus made on promoting investment mobilization for Con Dao’s international airport.

Prime Minister Pham Minh Chinh has asked authorities of southern Ba Ria-Vung Tau province to develop its Con Dao island district into a world-class tourist destination.

At a working session with the Standing Board of the provincial Party Committee on May 3, PM Chinh instructed local authorities to finalize and implement a scheme for applying special mechanisms for Con Dao's development.

PM Chinh instructed the province to promote investment mobilization for Con Dao’s international airport via public-private partnerships.

He suggested that the province ensure integrated planning of healthcare, education, culture and social infrastructure, while increasing investment in power, clean water, waste treatment and 5G coverage and greening Con Dao’s cemeteries.

 

 

-Tiến Dũng

At the session which opens on May 5, the amendment and supplement of some articles of the 2013 Constitution will also be passed.

At its 9th sitting which opened in Hanoi on May 5, the 15th National Assembly is expected to approve 34 new or revised laws and 11 resolutions, including a resolution on amending and supplementing a number of articles of the 2013 Constitution, Secretary General of the National Assembly Le Quang Tung was quoted by the Government News as stating at a press briefing on May 4.

These laws include:

1.Criminal Code (revised),

2.Law on personal data protection,

3.Law on cadres and civil servants (revised),

4.Law on digital technology industry,

5.Law on chemicals (revised),

6.Law on science, technology and innovation,

7.Law on atomic energy (revised),

8.Law on teachers,

9.Law on State budget (revised),

10.Law on management and investment of State capital at enterprises,

11.Law on special consumption tax (revised),

12.Law on corporate income tax (revised),

13.Law on participation in UN peacekeeping,

14.Law on inspection (revised),

15.Law on organization of local administrations (revised),

16.Law on employment (revised),

17.Law amending and supplementing a number of articles of the civil procedure code, the law on administrative procedures, the law on juvenile justice, the law on brankruptcy, and the law on mediation and dialogue at court,

18.Law amending and supplementing a number of articles of the criminal procedure code,

19.Law amending and supplementing a number of articles of the Law on promulgation of legal documents,

20.Law amending and supplementing a number of articles of the Law on election of deputies to the National Assembly and the People’s Councils,

21.Law amending and supplementing a number of articles of the Law on credit organizations,

22.Law amending and supplementing a number of articles of the law on quality of products and goods,

23.Law amending and supplementing a number of articles of the Law on enterprises,

24.Law amending and supplementing a number of articles of the Law on bidding, the Law on public-private investment model, the Law on customs, the Law on export-import duties, the Law on investment, the Law on public investment, the Law on management and use of public assets,

25.Law amending and supplementing a number of articles of the Law on advertisement,

26.Law amending and supplementing a number of articles of the Law on Vietnamese nationality,

27.Law amending and supplementing a number of articles of the Law on planning,

28.Law amending and supplementing a number of articles of the Law on Viet Nam Fatherland Front, the Law on trade unions, the Law on youth, and the Law on implementation of grassroots democracy,

29.Law amending and supplementing a number of articles of the Law on economical and efficient use of energy,

30.Law amending and supplementing a number of articles of the Law on standards and technical regulations,

31.Law amending and supplementing a number of articles of the Law on organization of people’s courts,

32.Law amending and supplementing a number of articles of the Law on organization of people’s procuracies,

33.Law amending and supplementing a number of articles of the Law on handling of administrative violations, and

34.Law amending and supplementing a number of articles of laws in defense and security area.

Resolutions to be approved include:

1.Resolution on mechanisms and policies for private economy development,

2.Resolution on pilot mechanisms and policies for railway system development investment,

3.Resolution on pilot mechanisms and policies for social housing development,

4.Resolution on tution exemption and support for preschool children, high school students, and students of general education programs at educational institutions in the national education system,

5.Resolution on several special mechanisms and policies for legislation formulation and enforcement,

6.Resolution on education univeralization for preschoolers aged between 3 to five years,

7.Resolution on extending the period of exemption from agricultural land use tax is stipulated in Resolution No. 55/2010/QH12 of the National Assembly on exemption and reduction of agricultural land use tax, which has been amended and supplemented by a number of articles under Resolution No. 28/2016/QH14 and Resolution No. 107/2020/QH14,

8.Resolution on piloting the People's Procuracy initiating civil lawsuits to protect the civil rights of vulnerable groups or to protect public interests,

9.Resolution replacing Resolution No. 35/2021/QH15 dated November 13, 2021 of the National Assembly on piloting a number of specific mechanisms and policies for the development of Hai Phong city, and

10.Resolution on reducing value-added tax.

Revision of 2013 Constitution:

The law-makers are expected to approve a resolution of the National Assembly on amending and supplementing a number of articles of the 2013 Constitution.

The legislators will also discuss the following bills:

1.Law on transfer of sentenced persons,

2.Law on extradition,

3.Law on railway (revised),

4.Law on emergency situations,

5.Law on legal aid in civil matters, and

6.Law on legal aid in criminal matters.

During the session, the National Assembly will review a report on thrift practice and anti-wastefulness in 2024, and a report on the outcomes of the implementation of national targets on gender equality in 2024.

It will also debate and approve a resolution on merger of provincial-level administrative units; consider and decide the establishment of National Election Council and elect Chairman of the National Election Council; consider and decide investment policies for Quy Nhon-Pleiku expressway and Ring Road No. 4 in Ho Chi Minh City.

 

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Green and sustainable finance is no longer simply an option for Vietnam as it shifts towards a low-carbon economy and strives to meet its development targets.

Vietnam’s green and sustainable finance market remain in its early stages of development. Delays in issuing legal frameworks and the absence of strong incentives to channel capital into sustainable sectors remain persistent challenges that have yet to be effectively addressed.

Speaking at a recent seminar, Mr. Thomas Jacobs, Country Manager of the International Finance Corporation (IFC) for Vietnam, Cambodia, and Laos, emphasized that for Vietnam to achieve high-income status by 2045, a shift towards a low-carbon economy is essential. In this transition, green and sustainable finance is not just an option, it is a fundamental pillar for ensuring long-term growth and competitiveness.

Progress made, but challenges remain

According to Mr. Jacobs, Vietnam faces significant risks from climate change, posing major challenges to its goal of becoming a high-income nation by 2045. Numerous environmental reports highlight the threats the country must confront, including rising temperatures and droughts in the north, typhoons and flooding in the central region, and saltwater intrusion in the Mekong Delta, the country’s agricultural heartland.

The Vietnam Country Climate and Development Report by the World Bank estimates that Vietnam will need to mobilize $368 billion for climate action by 2040, with $184 billion expected to come from the private sector.

Mr. Nguyen Tung Anh, Senior Manager, Credit Risk Research and Head of Sustainable Finance Services at FiinRatings, noted that green finance is gradually taking root. According to the credit rating agency, green credit has grown consistently and significantly since 2015, with an impressive surge from 2020 onwards, reaching an estimated VND679 trillion ($27.16 billion) as of the end of 2024. Compared to the overall credit growth rate of 12-15 per cent annually from 2018 to 2024, green credit has expanded at a much faster pace, with some years, such as 2018 and 2021, recording growth of up to 30 per cent.

Leading banks such as VietinBank, ACB, Agribank, and MB are not only embracing the green finance trend but are also proactively developing their own standards for green lending. These initiatives create greater flexibility in financing mechanisms and expand access to green capital. BIDV, for example, has introduced a green project portfolio with preferential interest rates and exchange rates while gradually phasing out credit for high-carbon-emitting industries such as steel, cement, and fertilizers. Similarly, VietinBank and ACB have introduced sustainable finance frameworks, demonstrating both their commitment and the broader transformation of Vietnam’s financial sector towards sustainability.

Vietnam’s green bond market is also showing encouraging signs. Data from FiinRatings indicates that the issuance of sustainable bonds (GSS) has surged in recent years, reaching an estimated VND6.875 trillion ($275 million) in 2024, up from VND2.5 trillion ($100 million) in 2023.

Beyond existing sustainable investment funds, new investment models are emerging, offering more options for investors focused on sustainable finance. A key milestone in this space is Eastspring’s EVESG Fund, which conducted Vietnam’s first independent ESG (environmental, social, and governance) fund assessment.

Despite this momentum, Mr. Jacobs cautioned that the pace of green finance adoption in Vietnam remains sluggish, with no significant breakthroughs as yet.

Key step for sustainable finance

Vietnam has yet to establish a comprehensive green taxonomy, leaving a crucial gap in the country’s sustainable finance framework. According to Mr. Tung Anh, the availability of professionals with strong expertise in ESG and green finance remains limited, as these emerging requirements demand interdisciplinary knowledge spanning finance, engineering, environmental science, and regulatory compliance. Additionally, the absence of a clear legal framework and limited in-house expertise pose risks for businesses, including accusations of “greenwashing”.

Experts emphasize that establishing a green taxonomy in Vietnam is crucial for transitioning to a sustainable, low-carbon, and climate-resilient economy. A green taxonomy provides a standardized and harmonized approach to defining and identifying sustainable activities. Vietnam’s national green taxonomy must address domestic needs while aligning with international investor expectations. This ensures that national priorities are met without creating additional barriers to cross-border sustainable capital flows. Regulatory oversight of such classifications will also play a key role in supporting green credit.

According to Decree No. 08/2022/ND-CP, the Ministry of Natural Resources and Environment (now the Ministry of Agriculture and Environment) was required to submit the national green taxonomy to the government by December 31, 2022. However, it remains in draft form and has yet to be officially issued. Moreover, experts highlight that high costs deter many businesses from entering the green finance market.

Issuing green bonds involves not only working with issuance advisory firms but also undergoing complex verification processes. Companies must secure third-party validation of their compliance with green bond frameworks and, depending on the nature of the project, may also require experts to assess green products or sustainable buildings. Notably, green bond interest rates do not significantly differ from conventional bonds, while issuance costs are considerably higher.

To develop Vietnam’s green bond market and other labeled bonds, experts recommend that government agencies establish clear guidelines for issuance, certification, and reporting while also introducing incentive policies to encourage issuance and investment. Experts also suggest that the Vietnamese Government consider issuing “green government bonds” as a model to provide a strong foundation for the domestic labeled bond market.

Additionally, international collaboration within sustainable finance networks can be leveraged to support Vietnam’s efforts to advance its sustainable financial market. Participation in these networks can enhance knowledge-sharing, promote best practices, increase awareness among stakeholders, foster policy commitments, and build capacity across relevant sectors.

Unlocking the potential of sustainable financial markets requires addressing complex challenges. Analysts recommend that policymakers prioritize actions strategically and accelerate implementation to unlock capital flows for sustainable growth.

 

"According to data, while the banking system holds up to 80 per cent of domestic savings, only 5.4 per cent of that is allocated to climate-related projects. Additionally, the total issuance of green, social, and sustainability bonds from 2016 to 2024 reached only $1.4 billion; a modest figure compared to its potential."

Mr. Thomas Jacobs, Country Manager of the International Finance Corporation (IFC) for Vietnam, Cambodia, and Laos

 

 

 

 

 

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-Nhat Linh

With the achievements recorded in the first four months of 2025, the northern province reaffirms its status as a top destination on Vietnam’s tourism map.

The northern province of Ninh Binh has welcomed 5.6 million tourist arrivals in the past four months, a 13.63% increase compared to the same period last year, according to the Provincial Department of Tourism. Of these, the number of overnight stays at accommodation establishments is estimated at over 1.052 million, a 24.53% rise year on year.

Total tourism revenue during this period is estimated at over VND6 trillion (approximately $230.8 million), marking a 31.02% increase compared to the same period last year.

Under the theme "Vietnam – Travel to Love", tourist areas, attractions, and service businesses in Ninh Binh province have proactively organized activities to enhance visitor experiences, improve product quality, and introduce new tourism offerings.

Meanwhile, tourism service providers are ensuring compliance with legal regulations, maintaining facility conditions, service standards, food safety, and environmental protection.

With the goal of developing tourism into a key economic sector, the locality continues to implement effective strategies to attract domestic and international visitors. The Provincial Department of Tourism is actively promoting and guiding tourist area management, ensuring security, sanitation, and investing in infrastructure upgrades, equipment improvements, and human resource development to provide visitors with the best possible conditions.

With the achievements recorded in the first four months of 2025, Ninh Binh's tourism industry remains on a strong growth trajectory, playing a crucial role in the province’s socio-economic development and reaffirming its status as a top destination on Vietnam’s tourism map.

-Nguyễn Thuấn

Vietnam has adjusted its Power Development Plan and issued various legal instruments as it readies the energy sector for a new era of development.

The National Assembly (NA) has set an ambitious goal of 8 per cent economic growth in 2025 and double-digit growth from 2026 to 2030. To realize this vision, a key driving force will be energy, particularly electricity and sustainable, green energy sources. The Vietnam Economic Association (VEA) and the Vietnam Clean Energy Association, in partnership with Vietnam Economic Times / VnEconomy / Tap chi Kinh te Viet Nam, recently organized the Vietnam Energy Forum 2025, with the theme “Green and Clean Energy Towards a New Economic Era: Solutions to Promote the Development of New Energy Sources in Vietnam.” The event sparked meaningful discussions about the existing energy landscape and the exciting potential of renewable, green, and clean energy for Vietnam’s future.

‘Lifeblood’ of the economy

In his opening address, Dr. Chu Van Lam, Permanent Vice President of the VEA and Chairman of the Editorial Board at Vietnam Economic Times, emphasized the urgency of developing renewable, green, and clean energy. To meet economic growth targets of over 8 per cent in 2025 and strive for double-digit growth during the period from 2026 onwards, and to respond to strategic changes in operational methods, which include education, labor, and production, primarily based on digital platforms, it is essential to adjust and plan the necessary resources more effectively. One of the most fundamental and vital resources is electricity and green, clean energy sources. To meet urgent development goals, the demand for electricity has been calculated by management agencies and experts as increasing by 12-16 per cent annually.

From a practical perspective, especially the need for electricity to support economic development, the Party, State, NA, and government have paid significant attention in recent years to developing energy sources. This is reflected in strategic orientation documents such as Politburo Resolution No. 55-NQ/TW, issued on February 11, 2020, which outlines Vietnam’s National Energy Development Strategy to 2030 with a Vision to 2045.

On May 15, 2023, the Prime Minister issued Decision No. 500/QD-TTg, approving the National Power Development Plan for 2021-2030, with a Vision for 2050 (PDP8). The plan outlines specific directions for developing energy sources, particularly prioritizing the development of renewable, green, and clean energy.

In particular, in the context of needing acceleration and breakthroughs to propel the country into a “New Era - The era of the nation’s rise”, on November 25, 2024, the 13th Central Committee of the Communist Party of Vietnam agreed to restart the Ninh Thuan Nuclear Power Project in the south-central region and continue researching Vietnam’s nuclear energy program to ensure national energy security, meet socio-economic development goals, enhance scientific and technological capacity, and contribute to sustainable national development.

Furthermore, on November 30, 2024, during the 8th session of the 15th National Assembly, the NA officially passed the amended Law on Electricity, replacing the Law on Electricity 2004. The Law on Electricity 2024, effective from February 1, 2025, is expected to resolve existing difficulties and obstacles in the power industry, ensure electricity energy security, aim for net-zero emissions, and contribute to the sustainable and efficient development of the electricity sector, ensuring sufficient electricity supply for socio-economic development and people’s daily life.

Most recently, on March 3, 2025, the government issued Decree No. 58/2025/ND-CP, providing detailed regulations on several provisions of the Law on Electricity related to the development of renewable and new energy. This Decree is an important step in promoting sustainable development in the electricity sector, ensuring energy security, and minimizing environmental impact. It also serves as a positive signal for investors in the renewable energy sector in Vietnam.

Challenges and strategic directions

While numerous mechanisms and policies have been introduced, discussions at the recent Forum highlighted that the development of renewable, green, and clean energy in Vietnam is currently facing significant challenges. Mr. Nguyen Anh Tuan, Vice President and General Secretary of the Vietnam Energy Association, pointed out the real risk of an electricity shortage between 2026 and 2028. This concern arises from the slow pace of electricity generation, coupled with the stagnation in the expansion of renewable energy sources.

Mr. Tuan highlighted four reasons behind this. First, the slow implementation of plans. Second, the delayed resolution of projects continues to be an issue. Third, while offshore wind energy regulations have become clearer, they remain insufficient for effective deployment. As a result, no offshore wind projects have been launched as yet, threatening the target of reaching 6,000 MW by 2030. Finally, although there is a direction to transition from coal-fired thermal power to gas-fired power, progress has been slow.

To address these obstacles in developing renewable and clean energy, on December 31, 2024, the Prime Minister issued Decision No. 1710/QD-TTg approving the task of adjusting the PDP8.

On February 19, 2025, the Council for Appraisal of the Adjustment of PDP8 unanimously approved the adjusted plan. This outlines an additional 27,747-80,819 MW of electricity generation capacity, up from the original PDP8. Notably, the adjusted plan includes the addition of the Ninh Thuan 1 and 2 Nuclear Power Plants, with a total capacity of 6,000-6,400 MW, expected to be operational between 2030 and 2035. The system will need to add approximately 4,500-5,000 MW of nuclear power in the north and around 3,000 MW in the central region by 2050, mostly in the form of small modular reactors (SMR) to provide base load power for the system.

Mr. Tuan emphasized that the adjusted PDP8 significantly increases the scale of solar and wind energy capacity, presenting a promising opportunity for investors. The pricing of electricity will vary by region, reflecting the investment signals and production costs. The draft also introduces significant expansion of pumped storage hydropower, battery storage, and flexible power sources. This opens up ample investment opportunities in new services like ancillary services for the power system and the production of new fuels, such as green hydrogen and ammonia.

To accelerate implementation, Mr. Tuan recommended quickly finalizing regulatory documents, including the amended Law on Atomic Energy and the Law on Energy Efficiency and Conservation. For subordinate documents, regulations on flexible power source pricing, pumped storage hydropower pricing, and the development of renewable and new energy sources should be issued to support their growth.

Experts attending the forum agreed that Vietnam is at a critical juncture with a major opportunity to develop green and clean energy, ensuring energy security and sustainable development. However, to successfully achieve this goal, close collaboration between the government, businesses, citizens, and professional associations is essential. With strong political will, coordinated action across ministries, and active private sector involvement both domestically and internationally, renewable and new energy will become a solid foundation, driving economic and social growth in the new era while aligning with sustainable development.

 

1. Total power capacity according to the adjusted PDP8 approved by the Council for Appraisal of the Adjustment of the PDP8

The total power capacity to meet domestic demand by 2030 (excluding exports, co-generation, and risky thermal power) is 183,291-236,363 MW. This includes:

- Thermal power from coal: 31,055 MW (16.9-13.1%);
- Thermal power using domestic gas: 10,861 MW (5.9-4.6%);
- Thermal power using imported LNG: 8,824 MW (4.8-3.7%); and
- Hydropower: 33,294-34,667 MW (18.2-14.7%);

For renewable energy, biomass, waste-to-energy, geothermal power, storage, and flexible power sources:

- Onshore wind power: 27,791-28,058 MW (13.2-14.4%);
- Solar power (including concentrated solar power and rooftop solar): 46,459-73,416 MW (25.3-31.1%);
- Biomass, waste-to-energy, and geothermal power: 2,979-4,881 MW (1.6-2.1%);
- Energy storage: 12,394-22,271 MW (6.8-9.4%); and
- Flexible power: 2,000-3,000 MW (1.1-1.3%);

Regarding electricity imports, exports, and nuclear power development:

- Imported power: 9,360 MW (5.1-4.0% of total power capacity);
- Projected electricity exports: 5,000-10,000 MW; and
- Nuclear power: 6,000-6,400 MW, to be operational in 2030-2035;

2. Total installed power capacity by 2050, under the adjusted PDP8

- Nuclear power: 9,800 MW (1.2% of total power capacity);
- Thermal power from coal: 0 MW;
- Other thermal power: 124,374 MW (14.6% of total power capacity), including combined-cycle gas turbines + domestic gas, LNG conversion + new LNG combined-cycle gas turbines + flexible power sources;
- Biomass, waste, and other energy sources: 6,364 MW (0.7% of total power capacity); 
- Hydropower: 37,154 MW (4.4% of total power capacity);
- Onshore and nearshore wind power: 96,645 MW (11.3% of total power capacity);
- Offshore wind power: 138,639 MW (16.3% of total power capacity);
- Concentrated solar power: 157,976 MW (18.5% of total power capacity);
- Rooftop solar power: 98,620 MW (16.2% of total power capacity);
- Pumped storage hydropower and battery storage: 112,769 MW (13.2% of total power capacity); and
- Imports: 30,391 MW (3.6% of total power capacity);

 

 

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-Mạnh Đức

Under the new resolution, investment and business legislation will be finalized by 2028, contributing to positioning Vietnam's investment environment among the top three in ASEAN.

Party General Secretary To Lam has signed Resolution No. 66-NQ/TW  of the Politburo on innovating legislation formulation and enforcement to meet the country's development requirements in the new era, according to a report from the Government News.

The resolution, dated April 30, 2025,  sets the goal that by 2030, Vietnam will have a democratic, fair, coherent, unified, transparent, and feasible legal system, with a strict and consistent enforcement mechanism.

The system will lay a solid legal foundation for the regular, continuous, and smooth operation of state agencies after they have been rearranged and streamlined, unlock potential for national development in a bid to turn Vietnam into a developing country with a modern industrial base and upper-middle-income status by the end of this decade.

In 2025, the nation targets to basically resolve legal "bottlenecks" caused by existing regulations.

By 2027, the revision, supplementation, and promulgation of new legal documents will be completed to ensure a consistent legal foundation for the operation of the state apparatus under the three-tier governance (central, provincial and communal levels).

By 2028, investment and business legislation will be finalized, contributing to positioning Vietnam's investment environment among the top three in ASEAN.

With a vision towards 2045, Vietnam aims to build a high-quality and modern legal system that aligns with advanced international standards and practices.

This system will be strictly and consistently enforced, respected, safeguarded, and will effectively protect human rights and citizens' rights.

Also on April 30, 2025, the Politburo set up the central steering committee for improving legislation, headed by Party General Secretary To Lam, with Prime Minister Pham Minh Chinh and National Assembly Chairman Tran Thanh Man serving as its deputy heads. 

 

-Vân Nguyễn

The new regulations outlined in Government Decree No. 94/2025/ND-CP, dated April 29, 2025, which will take effect from July 1.

The Government has issued Decree No. 94/2025/ND-CP on regulatory sandbox mechanism in the banking sector.

The  Decree, which was dated April 29, 2025, and will take effect on July 1, 2025,   covers regulations on the regulatory sandbox mechanism in the banking sector for the deployment .of new products, services, and business models via the application of financial technology or fintech,  according to the Government News.

Fintech solutions eligible for testing under the sandbox mechanism include:

a) Credit scoring;

b) Data sharing via open application programming interfaces (Open API);

c) Peer-to-peer (P2P) lending.

The Decree shall be applicable for the following entities: Credit institutions and foreign bank branches as defined under the Law on Credit Institutions (excluding those involved in P2P lending); Fintech companies; Competent state authorities; Customers and other organizations and individuals related to the sandbox mechanism.

The mechanism aims to promote innovation and modernization in the banking sector, thereby helping to achieve the goal of financial inclusion for individuals and businesses towards a transparent, convenient, safe, efficient, and low-cost manner.

It also creates an experimental environment to assess the risks, costs, and benefits of Fintech solutions and supports the development and creation of Fintech solutions that align with market needs, legal framework, and regulatory requirements.

It also targets to minimize the risks faced by customers when using Fintech solutions provided by organizations participating in the sandbox.

-Phạm Long

The revision aims to synchronize technical infrastructure, meet practical development needs, and align with the approved investment plan.

The Ministry of Construction has approved a partial adjustment to the Quang Tri Airport development plan for the period up to 2030.

The revision aims to synchronize technical infrastructure, meet practical development needs, and align with the approved investment plan.

According to the new decision, adjustments include relocating the turning pad at the 22 end of the runway and adding a new turning pad at the 04 end. Additionally, the GP (glide path) antenna will be moved to the southeast of the 22 end, and a drainage ditch system will be installed along both sides of the runway and the aircraft parking apron, complemented by a culvert system connecting edge ditches to the open canal network.

The Ministry of Construction has tasked the Civil Aviation Authority of Vietnam (CAAV) with leading efforts to coordinate implementation, ensuring compliance with current regulations.

Previously, CAAV had submitted a proposal to the ministry, advocating for a partial adjustment to Quang Tri Airport’s planning to enhance technical infrastructure synchronization and accommodate growing air transport demand.

The construction of Quang Tro Airport is underway in Gio Quang and Gio Mai communes (Gio Linh district), covering over 265 ha. The total investment for the project, spanning two phases, amounts to over VND5.83 trillion (nearly $224.4 million). Upon completion, the airport is expected to accommodate up to 5 million passengers and handle 25,500 tons of cargo, annually.

This planning adjustment marks a significant step in advancing national transportation infrastructure, enhancing connectivity, and fostering trade expansion—both domestically and internationally—for Quang Tri and the Central region in the coming years.

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In addition to their economic impact, Danish investments have brought cutting-edge technology, sustainable production standards, and long-term strategic cooperation opportunities to Vietnam.

Among Nordic countries investing in Vietnam, Denmark stands out as the leader in both investment scale and long-term commitment. Danish investments in Vietnam over recent years have steadily expanded, reflecting the strong interest of Danish enterprises in the Vietnamese market. Denmark is currently not only one of Vietnam’s key trade and investment partners but also has a vital role to play in supporting the country’s sustainable development goals and climate change adaptation efforts.

As of the end of February, total Danish investment capital in Vietnam had exceeded $2.02 billion, in 174 projects in all points of the country, according to figures from the Ministry of Finance. Denmark focuses on key investment sectors in Vietnam, such as renewable energy, industrial manufacturing, consumer goods, and logistics. Beyond driving economic growth, Danish investments are recognized for bringing cutting-edge technology, sustainable production standards, and long-term strategic cooperation opportunities, further enhancing Vietnam’s position on the global investment map.

Expanding ties

Denmark currently ranks 21st among all countries and territories investing in Vietnam and leads among Nordic countries. Vietnam has emerged as an attractive destination for Danish businesses, drawing significant interest from major corporations such as LEGO, Maersk, Pandora, and Carlsberg. These companies have launched large-scale, high-quality projects in the country, underscoring the growing confidence of Danish investors in Vietnam’s market potential.

One standout project from Denmark is the LEGO Group’s $1.3 billion toy manufacturing plant in southern Binh Duong province, set to be officially opened this month. It is LEGO’s first factory in the country and its first carbon-neutral facility worldwide, marking a major milestone in its global sustainability strategy.

Similarly, Pandora, one of the world’s largest jewelry brands, has invested $150 million to build a factory in Binh Duong that is expected to begin operations in 2026 and further expand Pandora’s presence in Vietnam while reinforcing Denmark’s growing investment in the country. These initiatives by leading Danish companies not only highlight Vietnam’s attractive investment environment but also position the country as a key destination for a wave of investment from Denmark and international businesses in general.

Mr. Michael Aastrup Jensen, Chairman of the Foreign Policy Committee in the Danish Parliament, affirmed that Vietnam and Denmark have a sustainable and strong partnership based on mutual respect and a shared commitment to multilateral cooperation and adherence to international law. “The two countries share common interests in ensuring peace and freedom of navigation, as well as promoting sustainable development in key sectors,” he emphasized.

Alongside investment, trade activities between Vietnam and Denmark have also seen encouraging results in recent times. According to data from the General Department of Vietnam Customs, total trade turnover between the two countries reached $676.34 million in 2024, an increase of 20.3 per cent year-on-year. This growth underscores the strengthening economic ties and expanding opportunities for cooperation across various sectors, marking a successful year for bilateral trade.

Mr. Jensen believes that one of the key factors sustaining the growth of both investment and trade between Denmark and Vietnam is the robust and multi-faceted cooperative relationship that has developed between the two countries over the years. This strong partnership spans a range of sectors, with a particular emphasis on sustainability and innovation. Since the establishment of the Green Strategic Partnership (GSP) between Vietnam and Denmark in 2023, there has been a marked increase in renewable energy projects and other initiatives aligned with Denmark’s green criteria in Vietnam.

Advancing energy transition

Vietnam has set a goal of achieving net-zero emissions by 2050 to mitigate the negative impacts of climate change, protect the environment, and promote sustainable development. To reach this goal, it must transition to clean energy sources, improve green infrastructure, and develop environmentally-friendly industries.

Meanwhile, Denmark is recognized as one of the leading countries in transitioning its economy from fossil fuel-based activities to renewable energy technologies, sustainable transportation, and green production processes. Therefore, cooperation with Denmark serves as a valuable foundation, helping Vietnam realize its vision of a green, equitable, and sustainable economy while also creating opportunities for knowledge exchange, technology transfer, and the development of renewable energy initiatives.

According to Deputy Minister of Industry and Trade Nguyen Hoang Long, Denmark has supported Vietnam through numerous renewable energy projects, providing advanced technologies, human resources training, and policy consultations on energy transition. This cooperation has helped Vietnamese businesses reduce costs, enhance production efficiency, and minimize environmental impacts. “Denmark is one of the most important partners in Vietnam’s energy transition process,” Deputy Minister Long emphasized.

A prime example of their cooperation in energy transition is the Vietnam-Denmark Energy Partnership Program (DEPP3) for the 2020-2025 period. Established between the governments of Vietnam and Denmark, the initiative receives official development assistance (ODA) funding from Denmark totaling $8.96 million and aims to promote energy transition efforts, reduce greenhouse gas emissions, and enhance energy efficiency in Vietnam’s industrial sectors.

Mr. Jorgen Hvid, Long-term Advisor with DEPP3, said the program is a key element of Denmark’s broader long-term strategy to collaborate with developing countries. Through initiatives like DEPP3, Denmark seeks to accelerate Vietnam’s energy transition, fostering a shift towards cleaner and more sustainable energy systems. “This cooperation not only brings technical benefits but also creates opportunities for Vietnam to develop effective energy policies,” Mr. Hvid added.

Vietnam is actively advancing its economic development, with a strong focus on building a green economy. In this context, deepening cooperation with international partners, particularly in the energy sector, is crucial. With its commitment to achieving net-zero emissions by 2050, Vietnam must prioritize sustainable and clean energy solutions. This transition presents both challenges and opportunities, allowing Vietnam to demonstrate its dedication to sustainable development.

Deputy Minister Long also emphasized that Vietnam is entering a new era of robust growth and development. With a target of posting double-digit economic growth from 2026 onwards, the energy sector will play a key role in driving progress. Strengthening partnerships with international counterparts, especially Denmark, in areas such as renewable energy and energy transition will be critical. “In the years to come, Vietnam and Denmark should deepen their collaboration on energy transition and increase the share of renewable energy in Vietnam’s national energy mix,” the Deputy Minister believes.

-Phương Hoa

Its inaugural flight took off from Hanoi on May 1 with over 130 passengers and landed in Bengaluru the same day.

Vietnam Airlines on May 1 launched a new direct flight route connecting Hanoi with Bengaluru - India’s leading tech hub, with four weekly round-trip flights.

Its inaugural flight, VN983, took off from Hanoi on May 1 with over 130 passengers and landed in Bengaluru the same day. The return leg, VN982, departed Bengaluru that night carrying more than 160 passengers, touching down in Hanoi at 5:25 am on May 2.

From  May 7, the airline will also connect Hanoi to Hyderabad, another key Indian tech centre, with three weekly round-trips.

Both routes use Airbus A321 aircraft.

With these additions, Vietnam Airlines now serves four major Indian cities - New Delhi, Mumbai, Bengaluru, and Hyderabad - through six direct routes. The expansion responds to rising demand for travel, fueled by growing trade, tourism, and cooperation between the two nations.

India is one of the world’s fastest-growing aviation markets, with a population of over 1.4 billion and a growing middle class. By connecting to tech hubs like Bengaluru and Hyderabad, Vietnam Airlines reaffirms its role in bridging Vietnam with South Asia, its Deputy General Director Dang Anh Tuan was quoted by the Vietnam News Agency as saying.

Since entering the Indian market, Vietnam Airlines has operated over 3,200 flights and served over 511,700 passengers. In 2024 alone, Vietnam welcomed over 500,000 Indian visitors, ranking India among its top 10 tourism markets.

-Vân Nguyễn

The updated list of commercial housing and urban development projects includes 15 projects expected to be completed after 2025.

The Hanoi People's Committee has updated the list of housing and urban development projects within the city's housing development plan for the period 2021-2025 (Phase 5).

According to the People's Committee, the updated list of commercial housing and urban development projects includes 15 projects expected to be completed after 2025, with a total housing floor area of 23,669,711 sq.m, providing 160,436 units.

Additionally, 200 projects are currently under investment proposals, with a total housing floor area of 21,557,650 sq.m and 142,214 units.

Regarding social housing development, five projects have adjusted information and are currently in preparation for investment in Thuong Tin district.

These projects are expected to be completed between Q1/2025 and Q4/2027, with a total estimated floor area of 94,039 sq.m, offering 1,545 apartments. Furthermore, 17 newly updated projects have been added, with specific details to be determined based on investment policies and competent authorities' decisions, amounting to 1,368,923 sq.m and 18,186 apartments.

The People's Committee has directed the departments of Finance, Agriculture and Environment, and Planning and Architecture, along with districts and towns, to review projects that have not yet been implemented, are incomplete, or delayed, and to advise and propose adjustments to the City People's Committee every three months.

-Hoàng Bách

The program will establish key foundations and strategic solutions to transforming the hi-tech park into a leading hub for science, technology, and innovation.

The People's Committee of Ho Chi Minh City has announced plans to implement the Science and Technology Development Program at the High-Tech Park for the period 2025-2030, beginning in 2025.

The initiative aims to strengthen scientific and technological capabilities, fostering innovation at the Saigon Hi-Tech Park (SHTP).

The program will establish key foundations and strategic solutions to support the sustainable development of SHTP, transforming it into a leading hub for science, technology, and innovation, as well as a highly interactive smart urban area in the city's eastern region.

Additionally, the program will enhance mechanisms and policies to promote research, development, and innovation in semiconductor integrated circuits, biotechnology, and dual transformation toward the Net Zero goal.

In 2025, specific objectives include: Completing the implementation plan for the Ho Chi Minh City Microchip Industry Development Program at the High-Tech Park for 2025-2030; developing the Biotechnology Development and Application Program at the High-Tech Park by 2030, with a vision to 2045; and finalizing the Dual Transformation Project, integrating Digital Transformation and Green Transformation, positioning the High-Tech Park as Vietnam’s first net-zero model.

For the 2025-2030 period, SHTP prioritizes the development of key technology sectors, including microelectronics, semiconductors, data centers and artificial intelligence (Data Center AI Factory), robotics and autonomous equipment (Autonomous), and biotechnology for human healthcare.

-Hồng Vinh