These sectors and fields have been defined under a Government Decree that took effect on April 8.

The Government has issued a Decree, that took effect on April 8, specifying 13 following sectors and fields eligible for public investment capital, according to the Government News.

1-National defense: Tasks, programs, and projects in sectors and fields that serve national defense, cryptography, disaster response, and search and rescue, implemented by specialized central and local units according to their delegated authority; activities related to bomb, mine, and explosive ordnance clearance; development of the defense industry toward dual-use purposes; and housing for the People's Armed Forces procured or constructed by the Ministry of National Defense.

2-Security, order, and public safety: Tasks, programs, and projects in sectors and fields that serve the objectives of security, order, public safety, fire prevention and firefighting, criminal investigation and prevention, criminal judgment enforcement, disaster response, and search and rescue, implemented by specialized central and local units according to their delegated authority; housing for the People's Armed Forces procured or constructed by the Ministry of Public Security.

3-Education and vocational training: Tasks, programs, and projects in investment of infrastructure, facilities, and equipment to serve the objectives of education, training, and vocational training at all levels, from preschool to higher education and adult education; investment in training facilities for officials at central and local agencies.

4- Science and technology: Tasks, programs, and projects for the construction of infrastructure, facilities, equipment, and technology to serve the objectives of science and technology development, experimentation, analysis, testing, inspection, standards, metrology, quality control, intellectual property, nuclear energy, new energy sources, radiation and nuclear safety, scientific and technological information and statistics, specialized design in natural sciences and engineering, technology application and transfer, semiconductor microchips, artificial intelligence; innovation centers, research and development, industrial development support, high-tech zones, and areas of high-tech agriculture, forestry, and aquaculture.

5- Health, population, and family: Tasks, programs, and projects for the investment in infrastructure, facilities, and equipment to serve health-related objectives, including preventive healthcare, medical examination and treatment, rehabilitation, medical expertise, forensic medicine, forensic psychiatry, traditional medicine, medical equipment, cosmetics, food safety, health insurance, population, and reproductive health.
6- Culture and information include tasks, programs, and projects aimed at the following objectives:

a) Culture: Protecting and preserving the values of tangible and intangible cultural heritage, ethnic culture; developing literature and arts, cinema, libraries, museums, grassroots culture, and various forms of performing arts; developing the system of cultural institutions and works.

b) Information: Infrastructure, facilities, and equipment serving for publishing and press activities of the Party and the State.

7- Radio, television, and news agency: Tasks, programs, and projects for the construction of infrastructure, facilities, and equipment to support radio, television, and news agency objectives, aiming to fulfill political, social, and essential public service duties.

8-Physical education and sports: Tasks, programs, and projects for the investment in infrastructure, facilities, and equipment to support the development of physical education and sports.

9-Environmental protection includes tasks, programs, and projects aimed at the following objectives:

a) Environment: Infrastructure, facilities, and equipment for environmental monitoring, early warning systems, pollution control, environmental improvement, waste and wastewater treatment, green growth, climate change adaptation, and sustainable development.

b) Natural resources: Infrastructure, facilities, and equipment for surveying and mapping, remote sensing, meteorology and hydrology, geological exploration, minerals, land assessment, land protection, improvement and restoration, protection of natural resources, biodiversity, and marine and island ecosystems.

10-Economic activities include tasks, programs, and projects aimed at the following objectives:

a) Agriculture, forestry, salt production, irrigation, and aquaculture: Infrastructure, facilities, and equipment for agriculture, forestry, salt production, irrigation, and aquaculture; rural economy (including the development of new rural areas, providing clean water and ensuring sanitation in rural areas, developing rural industries and handicraft villages linked to households and cooperatives, resettling and reorganizing rural populations, land allocation, stabilization of free migration, and resettlement); development of crop and livestock varieties; forest planting, protection, and development; disaster prevention, forest fire control, stabilizing paddy land, ensuring water security, and food security.

b) Industry: Electrification of rural areas, mountainous regions, and islands; infrastructure, facilities, and equipment for operating the electricity system and the national electricity market; tasks and projects related to the oil and gas sector as decided by the Prime Minister; facilities and equipment for printing and minting currency.

c) Transport: Infrastructure for roadways, railways, inland waterways, maritime routes, and airports.

d) Industrial zones and economic zones: Infrastructure for coastal economic zones, border gate economic zones, specialized economic zones, free trade zones, and industrial zone infrastructure, industrial clusters.

e) Commerce: Local markets, wholesale markets, logistics centers, exhibition centers, and infrastructure for export and import activities.

f) Water supply and drainage

g) Warehousing: Infrastructure, facilities, and equipment for warehouses, specialized storage facilities, national reserve warehouses, document storage, and evidence storage.

h) Tourism: Infrastructure for the development of sustainable tourism in tourist areas, sites, and destinations.

11-Activities of State management agencies, public service units, political organizations, and socio-political organizations: Tasks, programs, and projects aimed at constructing, renovating, and upgrading offices, official residences, and housing for rotating or reassigning officials, as well as procuring equipment for agencies within the political and state systems; projects for purchasing new or building and upgrading office buildings, upgrading housing, and procuring equipment for Vietnamese agencies abroad.

12-Society: Tasks, programs, and projects for the construction, renovation, and upgrading of infrastructure, facilities, and equipment for rehabilitation centers, functional recovery centers, and care for individuals with meritorious services; employment support; building, renovating, and upgrading care facilities for elderly people living alone, orphaned children, and those without support; constructing dormitories for workers in industrial zones; health care and rehabilitation for workers, prevention of occupational diseases; facilities supporting activities for youth, women, and farmers; building, upgrading, and expanding memorials for fallen soldiers; rehabilitation centers and other social assistance facilities; dormitories for workers.

13-Other tasks, programs, and projects as prescribed by law: Investment for other subjects and policies as prescribed by the Government and the Prime Minister; tasks, programs, and projects under public investment that have not been classified into the 12 sectors and fields mentioned above.

The National Assembly has approved a public investment plan for 2025, with total capital of nearly VND826 trillion (nearly $32.6 billion).

-Vân Nguyễn

More than 300 international purchasing delegations from 60 countries and territories expected to attend the event.

The 2025 Vietnam International Sourcing is scheduled to take place in Ho Chi Minh City from September 4 to 6, according to its organizers.

The event is expected to attract more than 300 international purchasing delegations from 60 countries and territories.

International buyers will explore over 12,000 products across four key sectors at 500 booths run by more than 400 Vietnamese businesses. The products will include farm produce, beverages, processed foods, garments-textiles, footwear, furniture, supporting industries goods, and personal electronic devices.

Vietnamese participants will have the opportunity to engage in B2B meetings with major global retailers and purchasing groups. An estimated 3,000 direct networking sessions are set to take place.

This year’s event will be a combination of three key programs – the Vietnam International Sourcing as well as the HCM City export forum and International Travel Expo Ho Chi Minh City (ITE HCMC).

 

 

-Vũ Khuê

The new High-Tech Park will span 663 ha in northern Ha Nam province..

Construction of the Ha Nam High-Tech Park is set to commence in late 2025, led by VSIP Group, the investor behind Vietnam's nationwide chain of VSIP industrial parks, according to Mr. Dinh Van An, Head of the Management Board of the Nam Cao University Complex.

Established under the Prime Minister’s Decision No. 1541/QD-TTg dated December 10, 2024, the Ha Nam High-Tech Park is the fifth high-tech park in Vietnam, covering an area of 663 ha in the northern province of Ha Nam (approximately 18 km from the province's Phu Ly city).

Its development represents a major milestone for the province and the national strategy for high-tech industry advancement, fostering sustainable growth and attracting investment in advanced technology sectors.

The park aims to stimulate local economic development while contributing to the nation’s broader goals for innovation and high-tech growth.

It offers favorable conditions, including transport connectivity, healthcare services, education, recreation, and entertainment facilities, to attract investors. 

In its initial phase, the Ha Nam High-Tech Park will target key high-tech industries such as artificial intelligence (AI), electronics and semiconductors, biotechnology and pharmaceuticals, and new materials technology.

-Hạ Chi

Most of economic sectors recording positive growth.

Central Da Nang city posts impressive economic growth in the first quarter of the year with a GRDP growth rate standing at 11.36%, according to the city's People’s Committee.

Most of the sectors grew compared to the same period in 2024, particularly trade and services.

With regard to tourism activities, the city welcomed over 1.26 million foreign visitors in the period, up 42.1% year-on-year. Accommodation and food services recorded a growth of 19.45%.

The city’s Index of Industrial Production (IIP) rose 11.1% year-on-year with processing and manufacturing continuing to lead the industrial sector.

In the first quarter, the total import and export turnover  hit $ 803 million, up 5.7% over the same period in 2024. Of the figure, export contributed $463 million, up 3%, and import $340 million, up 9.7%. 

-Ngô Anh Văn

The selling price of SJC-branded gold bars hitting VND106.4 million ($4,111) per tael.

Gold prices in the domestic market skyrocketed to a historic high on April 11 in line with the global trend.

The selling price of SJC-branded gold bars hit VND106.4 million ($4,111) per tael, up VND1 million ($38) compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

The selling prices of gold rings also jumped remarkably, reaching VND105.4 million ($4,072) per tael, soaring VND2.6 million ($100.4) per tael compared to the previous day.

In the global market, the gold price also increased to a record high of $3,218 per tael.

At this level, gold prices in Vietnam stand at around VND5 million ($193) a tael higher than the global price.

 

-Hoàng Lan

Ho Chi Minh City must address its shortcomings and build upon its existing strengths if it hopes to become a prosperous international financial center.

As Vietnam’s economic powerhouse and a key driver of the country’s rapid growth, Ho Chi Minh City has all the ingredients to become an International Financial Center (IFC). With a young and tech-savvy population, a strong manufacturing base, and a trade-driven economy, it seems like a natural step forward. Despite its potential, however, the southern city has yet to establish itself as a major financial hub in the region.

Across Asia, cities like Singapore and Hong Kong (China) have long dominated the financial landscape, offering deep capital markets, strong regulatory frameworks, and seamless global connectivity. Meanwhile, emerging players such as Bangkok and Jakarta are making significant moves to attract international financial activity. If Ho Chi Minh City hopes to compete, it must act now.

Industry leaders and financial experts agree that Vietnam has a real opportunity to develop an IFC, but also recognize the challenges that stand in the way. As Mr. William Lawrenson, British Deputy Consul General and Head of Trade and Investment for Ho Chi Minh City, noted, Vietnam is one of the fastest-growing economies in the world, with a heavily trade-dependent market. “Developing an IFC is almost an inevitable next step,” he believes. However, while the vision is clear, the path forward is complex.

Possibilities in place

According to Mr. Lawrenson, Vietnam’s stable government provides a foundation for long-term economic planning. Compared to other countries in the region, political stability is a strong advantage that gives investors confidence. This stability is complemented by strong GDP growth, making Vietnam one of the fastest-growing economies in the world. With a young, digitally-literate, and highly-educated workforce, the country is becoming an increasingly attractive destination for global businesses looking to relocate or expand their financial operations.

Historically, major financial centers have developed in countries with strong trade sectors, as financial services evolve alongside trade activities. Vietnam is no exception. The country’s trade volume is 130 per cent of GDP; one of the highest ratios globally. According to Mr. Lawrenson, developing an IFC is almost a natural next step. IFCs historically grow around trade hubs, and Ho Chi Minh City is already the commercial and financial heart of Vietnam.

The city offers a cost-effective alternative for international financial institutions looking to establish a presence in Asia. With the right policies, it could attract capital, fintech companies, and global banking players seeking expansion opportunities. Ms. Nguyen Thuy Hanh, General Director and Head of Corporate and Investment Banking at Standard Chartered Vietnam, underlined that Vietnam can take advantage of existing global IFCs, studying their successes and failures to leapfrog into a competitive position. By adopting best practices in financial regulation, infrastructure, and investment policies, Ho Chi Minh City could establish itself as a major financial hub in the region, bridging international capital and Vietnam’s fast-growing economy.

Holding it back

Despite Ho Chi Minh City’s potential to become an IFC, key challenges must be addressed before it can compete globally. While Vietnam’s economic stability and trade strength provide a solid foundation, regulatory barriers, financial infrastructure gaps, and investor confidence remain major hurdles.

One of the biggest concerns is Vietnam’s restrictive regulatory environment. Ms. Hanh emphasized that strict compliance requirements could deter global investors. “Only large multinational corporations and financial institutions have the capacity to invest in Vietnam, due to the complexities of market research and regulatory compliance,” she explained. However, if Vietnam’s IFC followed standardized policies and regulations, it would open the door for a wider range of investors, including UK-based small and medium-sized enterprises (SMEs) and fintech startups. “For example, the Dubai International Financial Center (DIFC) has become a hub for thousands of fintech firms, and we expect Vietnam to replicate that success,” she said.

Meanwhile, Mr. Dominic Scriven, Chairman of Dragon Capital, pointed out that while Vietnam has made progress in capital market reforms, slow implementation and legal uncertainties still pose challenges, particularly regarding profit repatriation and foreign exchange controls. “Most observers agree that there is still room for further development,” Mr. Scriven believes.

He added that the low-hanging fruit for enhancing Ho Chi Minh City’s position as a financial hub includes adopting International Financial Reporting Standards (IFRS), foreign exchange (FX) portability, and a structured private placement regime, which are currently gaps in Vietnam’s financial sector and would fit well within an IFC in Ho Chi Minh City. “These are all achievable within Vietnam’s current financial landscape and could significantly contribute to the development of Ho Chi Minh City as a major financial center,” he said.

Financial infrastructure is another obstacle. While the banking sector has modernized, the capital market remains shallow, limiting access to a broad range of financial instruments. Mr. Andrew Oldland, Head of TheCityUK’s IFC Working Group, highlighted the need for greater market depth and liquidity to attract global capital. Without a well-functioning financial ecosystem, it will be difficult for Ho Chi Minh City to establish itself as a premier financial hub.

Making it happen

For Ho Chi Minh City to establish itself as a competitive IFC, Vietnam must take decisive steps to reform regulations, enhance financial infrastructure, and build global investor confidence. While the city has strong economic fundamentals, unlocking its full potential will require a clear, coordinated strategy that addresses its key limitations and positions it as a regional leader.

Regulatory reform is the most urgent priority. Vietnam needs to create a legal framework that aligns with international financial standards while ensuring transparency and efficiency in financial transactions. Ms. Hanh emphasized the importance of simplifying compliance processes, arguing that excessive regulatory restrictions could deter global investors. “For an IFC, capital must move freely and efficiently,” she noted. This means modernizing foreign exchange regulations, easing capital controls, and ensuring that financial institutions can operate with clear, predictable legal guidelines.

Mr. Oldland proposed a set of policies aimed at accelerating Ho Chi Minh City’s development into an IFC, dividing them into measures that can be implemented immediately and those requiring a phased or pilot approach.

Among the immediate priorities is a streamlined registration system based on predefined criteria, allowing businesses to establish operations with greater ease. English would serve as the preferred language within the financial center, carrying the same legal validity as Vietnamese, reducing regulatory hurdles for international firms. Simplified procedures would be introduced for key sectors such as capital markets, banking, insurance, fintech, and the digital economy to attract investment and foster innovation.

For the capital market, specialized regulations would be enacted to promote growth, including incentives for green finance, reforms in securities registration, trading, and clearing processes, and the adoption of international accounting standards like IFRS. Improved market information systems would also be developed to enhance risk management across the operational, market, and credit sectors. Funding for infrastructure development would come from multiple sources, including the State budget, city authorities, and private sector partnerships, with strategic investors playing a key role. Additionally, visa and work permit procedures for foreign professionals and their families would be streamlined, complemented by tax incentives and other support measures for financial center participants.

Looking ahead, longer-term policy considerations include more complex regulatory adjustments, particularly regarding currency regulations. A key proposal under discussion is allowing financial center participants to conduct transactions in foreign currencies rather than being restricted to the Vietnam dong (VND). While details are still being refined, this step would align Ho Chi Minh City more closely with established IFCs, facilitating cross-border investment and trade.

-Linh Tong

Total labor force aged 15 and above estimated at 52.9 million people in Quarter 1

The total labor force aged 15 and above estimated at 52.9 million people in Q1 2025,  a decrease of 230,700 people compared to the previous quarter, but a year-on-year increase of 532,000 .

The Vietnam News Agency quoted the latest report from the National Statistics Office (NSO) as reporting that Vietnam continues to benefit from its golden demographic structure with some 500,000 people joining the labor force every year.

Meanwhile, the percentage of trained workers continued rising, with 28.8% of the workforce holding diplomas and certificates in the period, up by 0.2 percentage point from the previous quarter and 1 percentage point from the same period last year.

Employment figures during January – March improved from the previous year, with a positive shift in industry structure. The agro-forestry-fishery sector saw decreasing proportions while industry, construction and service sectors witnessed an increase.

Total employment in the period reached 51.9 million people, dropping by 0.4% quarter-to-quarter but rising by 1.04% year-on-year. The agro-forestry-fishery sector employed 13.5 million people, a decrease of 305,000 compared to the same period last year. Meanwhile, the industry and construction sectors recruited 17.2 million people and the services sector 21.2 million people, an increase of 262,000 and 575,000 compared to the previous year, respectively.

Average monthly income in Quarter 1 was VND8.3 million (323 USD), up by VND131,000 from the previous quarter and VND720,000 VND from the same period last year.

The NSO said that the unemployment rate among the working-age population stood at 2.2%, down 0.02 percentage point from the previous quarter and 0.04 percentage point year-over-year.

According to Deputy Director of the NSO’s Population and Labor Statistics Department Nguyen Huy Minh, the labor market continues to recover, but the quality of labor supply still faces many limitations and has not met the demands of a modern, flexible, sustainable, and integrated labor market. Despite employment growth, the market lacks sustainability, with 64.3% of workers informally getting unstable, low-income employment, a 0.7 percentage point increase from the previous quarter.

The formal sector faces its own challenges, he said, elaborating while over 72,900 enterprises were established or resumed operations in the three-month period, 78,800 enterprises withdrew from the market. Against the backdrop, he recommended institutional reforms, administrative procedure reductions, and breakthrough support policies for private enterprises.

Besides, the implementation of the Party Central Committee’s Resolution No.18 on streamlining the political apparatus along with the plan to merge provinces and eliminate districts will shift hundreds of thousands of public servants to the private sector, requiring support policies and retraining to help them adapt to new environments.

-Phạm Long

The bank lowering forcast for Vietnam's growth following risks of tariff measures imposed by the US.

Singapore-based United Overseas Bank (UOB) has lowered its forecast for Vietnam’s GDP growth in 2025 to 6% from its previous 7% projection due to the significant downside risks of tariff measures imposed by the US, according to the bank’s latest report.

Under its current scenario, the bank projected that Vietnam’s exports to the US will decline 20% in 2025 while exports to other markets will remain the same as last year, resulting in a year-on-year drop of 6% in total export revenue this year.

UOB also forecast Vietnam’s GDP growth in the second and third quarter of this year at 6.1% and 5.8%, respectively.

Vietnam's real GDP growth in the first quarter of the year stood at 6.93% year-on- year, lower than the bank’s forecast of 7.1%. The slower pace is blamed for festive season of the Lunar New Year holiday, which resulted in moderate operation of factories.  

 

-Vân Nguyễn

With total investment capital of over $1 billion, this is LEGO's sixth factory worldwide and second in Asia.

 LEGO Manufacturing Vietnam, the first carbon neutral factory  in the country, was inaugurated  in the southern province of Binh Duong on April 9.

In a story on the event, the Government News reported that with the total investment capital of over $1 billion, this is LEGO’s sixth factory worldwide and second in Asia.

The project is expected to create over 4,000 jobs, particularly providing opportunities for young workers to acquire modern skills and participate in the global value chain.

With an initial production capacity of 30,000 tons per year, this project serves as a new driving force for industrialization, modernization, and international integration. It also contributes to Vietnam's commitment to achieving net-zero emissions by 2050, as pledged at the COP26.

It will run on 100 per cent renewable energy by early 2026. In addition to the factory's own 12,400 rooftop solar panels, the company on April 10  announced a landmark agreement with Vietnam-Singapore Industrial Park (VSIP) for an energy center on adjacent land.

The energy center will house the first battery storage solution of its scale in Vietnam and will be operational by the end of 2025. Remaining renewable energy needs will be met through power purchase agreements.

The use of battery storage solutions and power purchase agreements to increase renewable energy is not just a first for the LEGO Group but among the first for any company in Vietnam.

The factory is also home to the LEGO Group's first LEED Platinum certified buildings.

LEGO Manufacturing Vietnam is also the first LEGO factory to exclusively produce paper-based pre-pack bags.

-

Though considered entirely feasible, Vietnam’s relatively small railway market presents difficulties in localizing its equipment and rolling stock supply chain and satisfying infrastructure requirements.

Vietnamese enterprises are beginning to carve out a role in the railway supply chain, but their contributions remain fragmented and largely limited to smaller components. The journey towards self-sufficiency therefore remains in its early stages.

A report from the Ministry of Transport (now part of the Ministry of Construction) highlights the industry’s current standing. Vietnam Railways - the State-owned operator of the country’s railway network - manages 258 locomotives, of which a striking 96 per cent run on the 1,000 mm narrow-gauge while just 4 per cent are designed for the 1,435 mm standard-gauge, limiting compatibility with international rail standards.

Vietnam’s railway stock consists of 5,298 railcars, including 980 passenger cars and 4,318 freight cars. Aging infrastructure, however, remains a major concern. While 40 per cent of these railcars have been in use for less than 20 years, a staggering 55 per cent have been operating for over three decades. Passenger comfort is another issue, with only 24 per cent of cars equipped with air conditioning as most are older models that have been refurbished rather than fully modernized.

As Vietnam pushes forward with modernizing its transportation infrastructure, the railway industry stands at a pivotal moment in its transformation.

Untapped core capabilities

Since 2005, Vietnam Railways has placed domestic orders for 240 new passenger cars and 773 freight cars. However, actual demand continues to outstrip supply, particularly for specialized freight cars such as container wagons and covered freight cars, forcing transport companies to lease equipment from abroad.

Beyond the shortage of rolling stock, the railway industry also faces significant challenges in infrastructure materials. Vietnam can currently only produce pre-stressed concrete sleepers, while key components such as P43 and P50 rails, high-grade materials for urban rail and high-speed rail, and railway switches still rely entirely on imports. The inability to manufacture these domestically remains a significant constraint.

Though Vietnam’s steel industry has achieved notable success in international markets, the Vietnam Steel Association has noted that the country has yet to develop a specialized steel sector. Domestic manufacturers primarily focus on standard construction steel, while high-performance steel for railways requires advanced technology and substantial capital investment. The small market size further reduces economic viability, discouraging local production.

The reliance on imports extends beyond materials to railway signaling and information technology. While Vietnamese companies can manufacture basic components such as cables and batteries, high-tech systems remain entirely dependent on foreign suppliers. The only exception is the Viettel Group, which has developed some modern telecommunications equipment but has yet to make significant investments in railway signaling technology.

One of the key reasons behind this technological gap is the railway industry’s stringent safety, stability, and reliability requirements. Limited market demand also discourages businesses from investing, while most railway projects have focused on upgrading existing systems rather than adopting new technologies. Major initiatives such as the high-speed railway are only set to begin after 2030, reducing the immediate need for cutting-edge railway technology.

Another major hurdle is the lack of a comprehensive technical standards system for railway equipment in Vietnam. Without certified domestic testing and compliance agencies, high-tech railway products remain commercially unviable, reinforcing the sector’s dependence on imported technology.

Looking at the broader picture, despite its vast potential, Vietnam’s railway industry has yet to establish full control over its supply chain. As a result, most railway projects continue to rely on foreign contractors for design, construction, and equipment supply. This dependence not only increases costs but also presents long-term challenges in maintenance and operations. Unlocking the full potential of the railway sector will require bold investments, policy reforms, and a stronger role for domestic enterprises in the supply chain.

Lessons from elsewhere

According to Associate Professor Nguyen Chi Sang, Chairman of the Vietnam Association of Mechanical Enterprises (VAMI), mastering technology not only reduces investment costs but also strengthens domestic production, minimizes foreign dependence, and drives sustainable railway development.

China leads the world in high-speed rail, thanks to a strategic approach to technology acquisition. Over the past two decades, it has collaborated with major companies such as Kawasaki from Japan, Bombardier from Canada, Siemens from Germany, and Alstom from France. The government mandated technology transfer for foreign companies involved in domestic projects, enabling the country to achieve a localization rate of 90 per cent and become a global leader in railway exports.

In Europe, Poland pursued a similar approach through international partnerships. In 2011, the Warsaw Metro Company signed a €272 million ($297 million) contract with a Siemens-Newag joint venture for 35 trains. Malaysia also prioritized localization by requiring railway assembly within the country. In 2012, a €350 million ($378.3 million) contract for 58 metro trains stipulated local assembly.

Drawing from these lessons, Associate Professor Sang emphasized that Vietnam must develop a structured roadmap for the railway industry and remain committed to the goal of localization. First of all, it is essential to establish a standardized system for the railway sector as a foundation for modular domestic production. At the same time, Vietnam must clearly define which products and services should be localized at each stage and incorporate these requirements as prerequisites in bidding documents.

Additionally, the government should assign specific domestic enterprises to handle key components and apply a direct contracting mechanism for at least the first three projects. With a well-planned strategy, Vietnam can fully master railway technology and gradually advance in the field, following the successful paths of other countries.

Advancing technological independence

Forecasts indicate that rail infrastructure development by 2035, with a vision towards 2050, including both national and urban rail, will create a large-scale construction market valued at an estimated $76 billion, alongside a $34 billion equipment market. This demand for locomotives, railcars, signaling systems, and other essential equipment will drive domestic industry growth through localization.

As Vietnam’s private sector continues to expand, many domestic enterprises are now capable of integrating into global supply chains and providing industrial products and services. The scale of the rail sector presents a strategic opportunity for Vietnamese businesses to acquire and master modern technologies, ultimately achieving self-sufficiency in production.

According to research by the Transport Development Strategy Institute, Vietnam can achieve full self-reliance in rail infrastructure construction, reaching approximately 41 per cent of total investment, similar to its success in bridge, tunnel, and expressway projects.

Beyond construction, with the right policy support, Vietnam could gradually localize key segments such as railcar manufacturing, traction power systems, and signaling technology, while ensuring autonomy in operations, maintenance, and high-speed rail component production. This progress is not only critical for modernizing transportation but also serves as a catalyst for the domestic rail and support industries.

To realize this goal, the government issued Resolution No. 178/NQ-CP on October 31, 2023, designating the rail industry as a priority sector for industrial development.

Lessons from developed countries show that mastering rail technology requires a structured roadmap alongside advancements in support industries such as metallurgy, mechanical engineering, and automation. However, the most crucial factor remains a sufficiently large market to sustain technology transfer and development.

Experts largely agree that with favorable market conditions and strong policy backing, Vietnam would be able to establish a self-sufficient rail infrastructure industry, localize production, and elevate the rail sector as a key pillar of the national economy.

-Đan Tiên

FDI capital contributing $111.9 million.

The central province of Nghe An attracted investment capital worth over VND6.7 trillion ($258 million) in the first quarter of this year, according to local authorities.

Of the total, FDI capital contributed $111.9 million.

In the three-month period, the provincial authorities granted investment licenses for 10 new projects with total registered investment capital of more than VND2.22 trillion ($85.7 million). Meanwhile, 38 projects were approved to increase investment capital.

Nghe An recorded remarkable economic growth in the first quarter with a GRDP growth of 8.0%, the province's highest first-quarter growth over the past five years.

Total disbursement of public investment capital reached 14.85% of the plan assigned by the Prime Minister.

There were 573 newly-established enterprises in the province in the three-month period with total registered capital of over VND2.61 trillion (over $100 million).

The province set a growth target of 10.5% in 2025.

 

-Nguyễn Thuấn

Credit concentrated on production, business, trade, services, tourism and export-import activities.

Ho Chi Minh City’s total outstanding credit reached nearly VND4 quadrillion (over $154 billion) in the first quarter of 2025, a year-on-year increase of 11.82%, according to data from the State Bank of Vietnam, Regional Office No.2.

Deputy Director of the office Nguyen Duc Lenh said local banks’ lending concentrated on production, business, trade, services, tourism and export-import activities.

Housing credit in the first two months of the year showed signs of recovery with a growth rate of 0.51% in January and 0.16% in February, contributing to supporting the recovery of the real estate market, he said.

By the end of February, loans to the real estate sector reached over 1 quadrillion ($42.4 billion), accounting for 28% of the total outstanding credits in the southern city and growing 1.15% compared to the end of 2024.

 

-Minh Huy

Deputy Prime Minister Ho Duc Phoc, Special Envoy of General Secretary To Lam, met with US Secretary of the Treasury Scott Bessent on April 10 as part of the former's working visit to the US.

As part of his on-going working visit to the US, Deputy Prime Minister Ho Duc Phoc, Special Envoy of General Secretary To Lam, on April 10 met with US Secretary of the Treasury Scott Bessent, who has been appointed as the head negotiator for trade talks with Vietnam.  

Deputy PM Phoc spoke highly of the agreement reached by the two countries to initiate negotiations on a reciprocal trade deal, calling on the two sides to begin negotiations to soon reach the deal.

Secretary Scott Bessent said Vietnam has taken positive measures to address the issues concerned by the US, saying that the US Administration has appointed him as head of the negotiating delegation with Vietnam.

He expressed his belief that the two countries would soon reach proper solutions to advance mutually beneficial economic and trade relations, and promised to coordinate closely with Vietnam in the negotiation process.

The same day, Deputy PM Phoc met US Secretary of Commerce Howard Lutnick. Mr. Phoc suggested the US Department of Commerce work closely with relevant Vietnamese ministries and agencies during the negotiation process.

Secretary Howard Lutnick affirmed that the US attaches great importance to the relationship with Vietnam, saying Vietnam is a highly potential economy and an important partner of the US.

He promised to coordinate closely with Vietnam during the negotiation process to reach a deal conducive to the development in both the US and Vietnam.

 

 

-Tiến Dũng

The province is conducting research to develop a project aimed at fostering private economic development based on innovation and science and technology.

Bac Ninh Provincial Party Secretary Nguyen Anh Tuan has directed relevant bodies in the northern province to review, revise, and supplement documents for the implementation of the Politburo's Resolution No. 57-NQ/TW, which focuses on breakthroughs in science and technology development, innovation, and national digital transformation.

The directive also emphasizes the execution of the Government project on developing resident data, electronic identification and authentication applications to serve national digital transformation in the 2022-2025 period, with a vision to 2030 (Project 06) on applying population, identification, and electronic authentication data to national digital transformation.

Accordingly, the province is prioritizing administrative reform, the deployment of online public services, and the promotion of cashless payments. Efforts are also underway to enhance the effectiveness of the single-level Public Administration Service Center model.

For the provincial Concentrated Information Technology Park, investors will be selected with a focus on high-tech enterprises, while ensuring a minimum proportion is reserved for domestic private enterprises.

Additionally, Bac Ninh is conducting research to develop a project aimed at fostering private economic development based on innovation and science and technology.

The province is exploring the establishment of a Science and Technology Support Fund, which would combine state budget funding with mobilized social resources. Priority will be given to supporting private enterprises in the science and technology sector, alongside plans to establish a Startup Support Center.

Scenarios will be reviewed, and a series of activities will be developed to promote cooperation in science and technology, innovation, and digital transformation, further solidifying the province’s commitment to sustainable development and technological advancement.

-Bạch Dương

Vietnam welcomes over 2.05 million foreign tourists in March, a 29% increase compared to the same period last year,

Prime Minister Pham Minh Chinh has asked relevant ministries, agencies and localities to promote tourism development with the aim of gaining the double-digit economic growth.

In an official dispatch issued on April 10, the PM noted that priorities should be given to accelerating tourism promotion, diversifying and improving tourism products and services, accelerating digital transformation and green transition in tourism development, and enhancing accessibility and convenience for tourists.

He also required for studying and applying flexible and convenient visa policies for tourists.

Vietnam welcomed over 2.05 million foreign tourists in March, a 29% increase compared to the same period last year, thus bringing the total international arrivals in the first quarter of 2025 to a new quarterly record of 6 million.

Revenue from travel and tourism services in Q1 2025 was estimated at VND21.5 trillion ($860 million), marking an 18.3 per cent year-on-year increase. 

-Tiến Dũng

The route spans some 159.31 km, passing through Ba Ria - Vung Tau, Dong Nai, Binh Duong, HCMC, and Long An.

Ho Chi Minh City (HCMC) has mapped out plans for the Ring Road 4 project (phase 1) with a total investment capital estimated at  nearly VND123 trillion (over $4.76 billion).

The project documentation is being finalized for submission to the National Assembly for consideration in May 2025.

The Ring Road 4 project begins at Phu My Commune, Tan Thanh District, Ba Ria - Vung Tau Province, and ends at the North-South arterial road in the Hiep Phuoc Port area, Nha Be District, HCMC.

The route spans approximately 159.31 km, passing through HCMC (16.7 km) and the neighboring provinces of Ba Ria - Vung Tau (18.23 km), Dong Nai (46.08 km), Binh Duong (47.95 km), and Long An (78.3 km).

The 47.95 km section in Binh Duong province will be executed independently as a separate investment, under the investment policy approved by the Binh Duong Provincial People's Council.

The total investment capital for the project (phase 1) is over VND122.77 trillion (over $4.76 billion), excluding the section in Binh Duong Province.

-Thanh Thủy

DualKey apartments at TTC Plaza Da Nang offer flexible living and rental potential, meeting rising demand for multifunctional urban spaces. Dubbed “the shining gem in the heart of the coastal city,” TTC Plaza Da Nang is expected to set a new benchmark in urban living by delivering a full suite of amenities in Vietnam’s most livable city.

TTC Plaza Da Nang is shaping up to be more than just another commercial project. With the introduction of DualKey apartments, it aims to bring a new layer of flexibility and functionality to the city’s real estate landscape - offering both practical living solutions and fresh investment potential.

The smart choice for modern investors

Coastal property markets are evolving. Investors today are not only pursuing profitability but also looking for adaptable spaces that combine functionality, privacy, and long-term value. This shift has paved the way for the growing appeal of DualKey apartments - units designed to serve multiple purposes within a single footprint.

First developed in Singapore around 2010, DualKey apartments - also called dual-key units - feature a shared main entrance but divide into two private, self-contained living areas, each with its own kitchen and bathroom. Their flexible design has gained ground in regional markets such as South Korea, Taiwan (China), Hong Kong (China), and across Southeast Asia. This format is well-suited for multigenerational households or owners who want to live in one part while renting out the other. The option to remove the partition wall also means the space can convert into a larger single unit, depending on the owner’s needs.

Though present in major Vietnamese cities like Hanoi and Ho Chi Minh City, DualKey apartments are still relatively limited in supply. TTC Plaza Da Nang is stepping into this gap with 73 such units, creating one of the first significant offerings of its kind in the city. Framed within an “all-in-one” development, these apartments combine residential appeal with commercial potential, pointing to an evolving urban lifestyle in Da Nang.

Location makes a difference

All-in-one living experience at TTC Plaza Da Nang.

Strategically located on the bustling Dien Bien Phu Street, TTC Plaza Da Nang features four premium street-facing facades, directly across from 29/3 Park, known as the “green lung” of the city, and just five minutes from Da Nang International Airport, making it appealing for both residents and tourists. As available land in central Da Nang becomes more scarce, DualKey apartments stand to gain further value, particularly with growing interest in flexible-use properties.

A key value driver of the project is the inclusion of AEON Mall. The well-known Japanese retail brand anchors the development and adds foot traffic and long-term tenant stability—important factors in boosting both residential and rental prospects for the DualKey units.

TTC Plaza Da Nang also includes a four-star hotel operated to TUI SUNEO standards, alongside office space and upscale residences. This integrated approach offers more than just convenience, it creates a lifestyle hub that supports sustainable demand for hybrid-use apartments like DualKey units.

A flexible investment solution in a shifting market

Modern interiors of DualKey apartments at TTC Plaza Da Nang.

Since the pandemic, Vietnam’s property market has moved toward products that serve multiple functions, and DualKey apartments fit that brief. They offer flexibility, dual-use potential, and steady income streams. Among 126 total units at TTC Plaza Da Nang, the 73 DualKey apartments stand out as both practical living spaces and resilient investments.

With solid construction, a central location, and a multi-use development model, these apartments are positioned to meet rising demand for real estate that adapts to changing urban lifestyles and investment preferences.

TTC Plaza Da Nang is currently offering a range of exclusive sales incentives for early buyers. These include a payment discount of up to 9 percent, a complimentary furniture package valued at up to VND300 million ($12,000), and 12-month rental support worth up to VND180 million ($7,200). Early birds can also enjoy a booking bonus of VND20 million ($800), while bulk purchasers are eligible for an additional discount of up to 1.5 percent. Upon handover, buyers will receive a special gift in the form of SJC gold.

TTC Plaza Da Nang is developed by Saigon Thuong Tin Real Estate Joint Stock Company (TTC Land), with Nguyen Kim Da Nang Trading Joint Stock Company as the official investor. For inquiries or further information, interested buyers can contact the project hotline at 0906 379 379.

-Diep Linh

Upon the completion of the Cua Lo Channel Project, large-tonnage vessels would gain access to the deep-water ports.

The People's Committee of the central province of Quang Nam has approved in-principle a proposal from the investor to prepare investment dossiers for the Cua Lo channel project, which encompasses construction of the creek, a bridge connecting the Tam Hiep and Tam Hoa port areas, and a road linking the Viet Han Industrial Park to Vo Chi Cong Road.

Upon completion, the channel can accommodate a vessel up to 50,000 tons to Tam Hiep port in Nui Thanh district.

The project will be executed under a Build-Transfer (BT) contract format with a total investment of VND7.2 trillion (nearly $280 million).

The Provincial People's Committee has assigned Dai Quang Minh Real Estate Investment Joint Stock Company, a subsidiary of THACO Group, to prepare the investment dossier and submit it to the competent authorities for consideration by June 30.

Earlier, during a working session between the Provincial Party Committee and THACO Group in late February, THACO proposed investing in four new projects in Quang Nam, including the Cua Lo channel project.

Nui Thanh District in Quang Nam province is well-suited for the development of a deep-water seaport system. However, siltation in the access channels to Chu Lai International Seaport and Ky Ha Port currently restricts vessels exceeding 20,000 tons from entry.

Mr. Le Van Dung, Chairman of the Quang Nam Provincial People's Committee, expressed optimism that upon the completion of the Cua Lo Channel Project, large-tonnage vessels would gain access to the deep-water ports, facilitating the transport of export goods and accelerating the establishment of a logistics hub in the region.

-Xuân Nghi

Tourism revenue for Q1 was estimated at nearly $182.4 million, a year-on-year increase of 29.3%.

Tourism in Ninh Binh province saw remarkable growth in the first quarter, reported the Provincial Statistics Office.

Visitor arrivals to tourist attractions were estimated at over 4.4 million, marking a 13% increase compared to the first quarter of 2024. Among these, domestic visitors accounted for over 3.8 million arrivals, up 10.1%, while international visitors reached 535.1 thousand, a significant rise of 40.8%.

The total number of guests staying at accommodation establishments in Ninh Binh province was estimated at 801,300, an increase of 27.9%, with total guest nights reaching 852,800, up 21.5%.

Tourism revenue for Q1 was estimated at nearly VND4.7 trillion (nearly $182.4 million), a year-on-year increase of 29.3%.

In Q1, accommodation and food services generated an estimated VND2.946 trillion ($114 million), a 29.0% rise. Revenue from travel services was estimated at VND18.1 billion ($702,000), reflecting a 34.9% decline.

-Nguyễn Thuấn

Focus to be made on issues relating to product origins, non-tariff barriers and intellectual property regulations.

Prime Minister Pham Minh Chinh asked relevant ministries, agencies and localities to effectively resolving issues of concern to US businesses, particularly those relating to product origins, non-tariff barriers and intellectual property regulations, while chairing a meeting between standing cabinet members and leaders of ministries, sectors, and localities on April 10.

They were also instructed to consider increasing purchases of US products that Vietnam has demand, such as liquefied natural gas (LNG) and aircraft.

PM Chinh noted that the US has agreed to initiate negotiations with Vietnam for a reciprocal trade agreement.

He directed the immediate formation of a negotiating team led by the Minister of Industry and Trade to engage with the US on a balanced and sustainable reciprocal trade agreement, laying stress on the need to closely monitor developments and propose timely, flexible and effective adaptation solutions.

The negotiations must also be placed in Vietnam’s global trade relations, including the 17 signed free trade pacts, he said, adding this is also an opportunity for Vietnam to restructure its economy for rapid and sustainable growth, reorganize enterprises, and diversify products, markets, and supply chains.

-Tiến Dũng