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

Accelerated progress in public infrastructure development has attracted social investment resources, boosting the city's socio-economic development.

The central city of Da Nang's total realized investment capital in the first quarter (Q1) of 2025 reached VND9.773 trillion ($379 million), an increase of over 43% compared to the same period last year.

Of the figure, investment from private sector accounted for over 60%.

The Da Nang Statistics Office attributed the sharp rise in private sector investment capital to the effective utilization of public investment in key projects as a driving force.

Accelerated progress in public infrastructure development has attracted social investment resources, boosting the city's socio-economic development.

Several State-funded infrastructure projects have benefitted from decisive action by the city authorities to address challenges related to site clearance, raw material supply, and disbursement procedures, facilitating faster construction progress. Key examples include the Lien Chieu Port shared infrastructure project, the Coastal Road project connecting Lien Chieu Port, and the Hoa Lien-Tuy Loan expressway section project.

In addition to domestic investment, foreign direct investment (FDI) in Da Nang experienced substantial growth in Q1, reaching VND1.544 billion ($59.86 million), an impressive increase of 80.5% year-on-year. This surge in FDI demonstrates the effectiveness of the city's policy solutions and mechanisms in overcoming obstacles for foreign-invested enterprises.

-Ngô Anh Văn

A better approach has emerged in ensuring that railway projects of all types are completed on schedule.

The sluggish construction of urban metro lines in Vietnam, which have been touted as a means of easing traffic congestion in major cities, along with stalled national railway upgrades, has created ripple effects that hinder the country’s growth and infrastructure development. As urban railway projects struggle with delays and mounting challenges, experts point to limitations in the traditional project management (PM) consulting model. In its place, the project delivery partner (PDP) model is emerging as a more effective solution, especially for large-scale and complex railway developments.

Slow projects

In major cities like Hanoi and Ho Chi Minh City, urban railway projects are seen as a key solution to addressing traffic congestion. However, progress has been significantly slower than planned, with project timelines continuously being pushed back.

The Nhon - Hanoi Railway Station Metro Line, despite multiple adjustments, is still under construction, with underground sections yet to be completed. The latest target for full operation is now 2027; nearly a decade behind its original schedule. Similarly, the Nam Thang Long - Tran Hung Dao Metro Line (Line 2) remains on the drawing board 17 years after the city approved its feasibility study in November 2008, with no breaking of ground in sight. In Ho Chi Minh City, the Ben Thanh - Suoi Tien Metro Line has finally begun operations, but only after numerous delays and adjustments saw it repeatedly miss deadlines.

Beyond urban metro systems, national railway projects, including both upgrades and new projects, are also stagnating. Existing railway lines, even with renovations, still fail to meet the rising demand for transport. Outdated infrastructure, slow travel speeds, and limited capacity have weakened the railway sector’s competitiveness, making it increasingly less attractive compared to other transportation options.

The North-South high-speed railway line, a strategic project already approved by the National Assembly, remains stuck in the research and preparation phase. Given the slow progress of past railway projects, experts are skeptical about whether construction can begin by 2027, as planned.

Vietnam’s persistent delays in railway projects stem from a range of complex challenges. These include difficulties in site clearance, the limited capabilities of some contractors, a lack of coordination in planning and execution, cumbersome legal procedures, and financial constraints. Inefficient project management further exacerbates the situation, leading to extended timelines and cost overruns.

To break this cycle, a more decisive and coordinated approach from the entire political system is needed. According to Mr. Nguyen Trong Nghia, CEO of the Invest Global IC JSC, improving PM is key. “The traditional PM consulting model has exhibited limitations,” he emphasized. “The PDP model is seen as a more effective solution, particularly for large-scale and complex railway projects.”

Comprehensive and flexible solution

The fundamental difference between the two models, he continued, lies in their approach and scope of responsibility. While the PM model primarily focuses on planning, organizing, coordinating, and monitoring progress, the PDP model is more comprehensive, engaging deeply in strategic consulting, technical design, and risk management.

In the implementation of urban railway projects, the PM model often encounters issues such as delays, shortages of highly-specialized personnel, and a lack of experience in EPC (Engineering, Procurement, and Construction) contracts. While the PM approach is suitable for projects with stable processes, it proves less effective when dealing with the complexities and unpredictable changes inherent in railway infrastructure projects.

Conversely, the PDP model fosters close collaboration between stakeholders from the planning phase through to project completion. Rather than simply overseeing progress, PDP actively participates in design, engineering, and risk management, ensuring the project’s overall efficiency. Its flexibility is evident in its ability to adopt various contract management approaches and optimize cost structures, unlike the rigid adherence to traditional PM models.

“One of the PDP model’s greatest advantages is its high level of integration and collaboration,” Mr. Nghia said. “This model facilitates close coordination between the government, construction contractors, consultants, and experts, optimizing project design, management, and execution, thereby reducing completion times. Establishing partnerships also enables swift resolution of emerging issues, enhances transparency and accountability, and strengthens communication and consensus between stakeholders.”

Moreover, PDP ensures project quality and timely execution through a multidisciplinary team of seasoned experts who can devise optimal solutions and respond swiftly to risks. This model also employs comprehensive risk management strategies, helping to anticipate and control unforeseen factors, ensuring the project stays on schedule and within budget.

Another strength of PDP is its adaptability to change. It can integrate advanced construction technologies such as Building Information Modeling (BIM) to optimize design and execution while assisting investors in selecting suitable suppliers and contractors and ensuring compliance with legal regulations.

Ultimately, PDP plays a crucial role in streamlining the development process of railway projects, seamlessly connecting all phases, from design and construction to operation, to ensure service continuity.

Three-tier governance model

Based on the aforementioned advantages and to effectively implement railway projects, Mr. Nghia proposed a three-tier governance model, comprising the Project Steering Committee, the PDP, and the main contractors.

The Project Steering Committee, under the government’s direct authority and chaired by a Deputy Prime Minister, would be responsible for overall project management, capital allocation, investment mobilization, and the selection of the PDP.

The Committee’s members would include both individuals and organizations, such as the Railway Project Management Board, specialized research institutes, real estate developers involved in Transit-Oriented Development (TOD) urban areas, and railway operation entities.

During implementation, the Project Steering Committee would coordinate domestic funding over medium-term periods, attract investment from international financial institutions, such as the World Bank (WB), the Asian Development Bank (ADB), and the Asian Infrastructure Investment Bank (AIIB), and auction land in TOD station areas to generate financial resources for the project.

The PDP entity, to be established as an independent legal entity through a joint venture of domestic (40 per cent) and international (60 per cent) consultancy firms, would be responsible for master planning, risk management, design verification, and construction supervision.

The main contractors, including EPC general contractors and domestic technology enterprises such as Viettel and VNPT (handling critical components like information and control systems), would be responsible for designing, constructing, and installing systems under a public-private partnership (PPP) model.

This governance model is expected to enhance transparency and efficiency in project management, ensuring the optimal mobilization of financial, human, and technological resources, thereby contributing to the success of railway projects in Vietnam and driving the development of modern transport infrastructure, Mr. Nghia emphasized.

 

 

-Anh Nhi Huynh Dung

The Foreign Ministry Spokesperson on March 10 highlighted the move announced by President Donald Trump as a positive step.

US President Donald Trump’s decision to temporarily pause reciprocal tariffs on imports from over 75 countries, including Vietnam, is a positive step, Spokesperson of the Ministry of Foreign Affairs Pham Thu Hang was quoted by the Vietnam News Agency as stating  on April 10.

The spokesperson made the statement in response to reporters’ question about the ministry' comment and Vietnam's planned actions following the US President’s announcement of a 90-day pause on reciprocal tariffs on April 9.

In line with the spirit of the Comprehensive Strategic Partnership, Vietnam will negotiate with the US a reciprocal trade agreement based on mutual respect, aiming to achieve proper solutions towards fair and sustainable trade that benefit the people and businesses of both countries, she said.

This reflects the spirit of the Vietnam-US Comprehensive Strategic Partnership, as well as the spirit of 30 years of their diplomatic relations, the spokeswoman said.

She added that 2025 marks three decades of diplomatic relations between Vietnam and the US, during which a wide range of commemorative activities, including high-level delegation exchanges, will be held.

 

-Vân Nguyễn

.Mobile technologies and services contribute over $20 bln to Vietnam’s economy

The GSM Association (GSMA) and the Vietnam  Digital Communications Association (VDCA) on April 9 announced a new collaboration to promote co-operation to accelerate Vietnam’s mobile and digital communications ecosystem.

Through the partnership, GSMA and VDCA will focus on exploiting the potential of the mobile ecosystem to support the Vietnamese Government’s Information and Communication Infrastructure Plan 2021-30.

The plan targets to expand broadband infrastructure to cover 99% of the population with 5G networks by 2030, promote environmentally sustainable digital infrastructure, building innovation zones to accelerate technological development, and position Vietnam as a regional hub for network and data security.

GSMA and VDCA will also share technical expertise, promote industry events and convene stakeholders through thought leadership platforms.

Mobile technologies and services contributed over $20 billion to Vietnam’s economy in 2023, according to GSMA.

 

-Hạ Chi

There are only 19 airports and three airport terminals in the world rated 5 stars by Skytrax so far.

The Terminal T2 of the Da Nang International Airport in the central city of Da Nang has been certified as a 5-star terminal by international airport rating agency Skytrax for the second time, according to the Da Nang International Terminal Investment and Operation JSC (AHT).

As of 2025, there were only 19 airports and three airport terminals in the world rated 5 stars by Skytrax.

Amenities highly appreciated by Skytrax include business class lounges, baby strollers, children's play areas, shopping carts, prayer rooms, self-baggage drop and automatic check-in counters.

Skytrax also announced that Da Nang International Airport is the sole representative of Vietnam to be ranked among the top ten best airports in Asia in 2025.

Da Nang continues to invest in developing infrastructure for the airport to meet increasing demand of passengers. A project to expand the Terminal T2 is scheduled to start in September this year.

 

-Ngô Anh Văn

Vietnam’s tourism sees record-breaking growth in Q1 2025, driven by key markets, effective policies, and enhanced visitor experiences.

According to figures released on April 6 by the National Statistics Office (NSO), Vietnam welcomed over 2.05 million foreign tourists in March 2025, a 29 per cent 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.

Fuelled by key markets

In the first quarter, Vietnam welcomed 1.6 million Chinese visitors, the highest number among all foreign tourist arrivals, a year-on-year rise of 78.3 per cent, followed by South Korea with 1.3 million. The data from the NSO also highlighted steady inflows from familiar markets such as Taiwan, Japan, Cambodia, India, the United States, and Australia.

Top 10 source markets for international tourists to Vietnam, Q1 2025 (thousand arrivals). Source: Vietnam National Authority of Tourism

Tourist arrivals from key international markets all showed promising growth. These included  Japan (+26.3 per cent), India (+23.3 per cent),  the United States (+11.3 per cent), Australia (+11.0 per cent), Taiwan (+10.2 per cent), and South Korea (+2.2 per cent).

Meanwhile, Southeast Asian markets also performed well, with Cambodia surging by 105.6 per cent, the Philippines by 95.1 per cent, Laos by 52.7 per cent, Indonesia by 6.9 per cent, and Thailand by 4.7 per cent.

Tourists from European countries continued their upward momentum, in which Russia led the growth with an impressive 110.5 per cent increase, followed by the United Kingdom (+23.5 per cent), France (+28.3 per cent) and Germany (+23.3 per cent).

Following the Government's Resolution No. 11/NQ-CP, dated January 15, 2025, on visa exemption for citizens of Poland, Czech Republic, and Switzerland, tourist arrivals from Poland and Switzerland recorded encouraging year-on-year growth of 52.9 per cent and 14.1 per cent, respectively.

Tourism revenue rises

According to data from the NSO, 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.  Several localities saw particularly strong tourism performance, in which Hanoi grew the most with an increase of 23.5 per cent, followed by Da Nang (+22.1 per cent) and Quang Ninh (+20.9 per cent).

Mr. Tran Trung Hieu, Deputy Director of the Hanoi Department of Tourism, emphasized that expanding the visa exemption list and extending the permitted temporary stay are important measures with broad economic implications. “This not only strengthens the tourism sector but also supports related industries such as hospitality, food and beverage, and entertainment,” Mr. Hieu shared.

The surge in international and domestic arrivals affirms the effectiveness of Vietnam’s tourism stimulus initiatives, laying a strong foundation for the country to meet its 2025 targets of welcoming 22 to 23 million foreign visitors.

From opportunity to global spotlight

In the context of fierce competition among Southeast Asian countries regarding visa policies and tourism programs, Vietnam should continue to implement comprehensive and synchronized solutions in order not to miss the “golden” opportunity of reaching a tourism revenue of over VND1 quadrillion ($40 billion) in 2025.

According to reports by domestic and international tourism research organizations, Vietnam has several strongly appealing destinations to make the country one of the most searched-for globally and should seize this opportunity to enhance promotion and marketing efforts, especially in potential and emerging markets.

Localities have identified tourism as a spearhead industry that needs to develop professional tourism branding strategies, diversify tourism products, and improve service quality in restaurants and accommodation facilities. In addition, the quality of tourism services and human resources also needs to be elevated through in-depth training in professional skills to communicate fluently with foreign visitors and provide service at higher standards with greater professionalism.

Technology in tourism should also be considered to apply by developing smart tourism applications that integrate information, hotel bookings, transportation, and customer support for a faster and more convenient experience.

Vietnam is now facing a great opportunity to elevate its status on the global tourism map. By addressing the need for open and rational visa policies, upgraded infrastructure, and innovative tourism products and services, the country can truly attract more foreign tourists and encourage repeat travel, moving beyond the label of a “low-cost destination.”

-Cap Mai

The growth showcases the strong recovery and development of the retail and consumer service sector of the southern city.

Ho Chi Minh City (HCMC) recorded total retail sales and consumer service revenue of over VND316.6 trillion (nearly $12.2 billion) in the first quarter of 2025, reflecting a 14.2% increase compared to the same period in 2024.

According to Mr. Nguyen Nguyen Phuong, Deputy Director of the municipal of Industry and Trade, the growth marks a strong recovery and development of the retail and consumer service sector of the southern city.

In March alone, total retail sales and consumer service revenue reached nearly VND109.99 trillion ($4.23 billion), marking an increase of 10.3% month-on-month and 17.5% year-on-year. This growth demonstrates positive signals for the city’s rapid economic recovery.

The city's industrial production also saw remarkable progress, with Index of Industrial Production (IIP) in March rising by 13.1% month-on-month and 8.1% year-on-year. Over the first quarter of 2025, the index grew by 6.8% year-on-year.

Furthermore, the industrial production of three traditional industries expanded by 14.4% compared to Q1 2024. Meanwhile, the consumption index for the entire manufacturing and processing industry reported an 11.2% growth, solidifying the city's industrial resurgence.

According to the City Statistics Office, the results of the Q1 business trend survey indicated significant improvements in the manufacturing and processing industry compared to Q4 2024. Specifically, 20.8% of businesses reported improved conditions, 46.3% noted stability, and 32.9% faced difficulties.

-Hẳng Nguyễn

The Ca Mau – Dat Mui Expressway will span approximately 90 km as the southernmost section of the eastern North - South expressway.

The Government Office has issued a notice on conclusions of the Government's Standing Board on the investment deployment for the expressway from Ca Mau City to Dat Mui in the southern most province of Ca Mau.

The Ministry of National Defence has been tasked with implementing the investment for the expressway project, which is located in Ngoc Hien district. Meanwhile, local authorities have been directed to complete site clearance and ensure construction begins before September 2 this year.

The notice highlights the importance of the expressway, which is intended to create a seamless connection between the North-South Eastern Expressway, Dat Mui, and Hon Khoai Port in Ca Mau province.

The Ministry of Finance is responsible for balancing and allocating investment capital for the project within the 2026-2030 medium-term public investment plan. Funding for preparation and implementation in 2025 will be sourced through reallocations from other unallocated projects and increased state budget revenue in 2024. These adjustments will be reported to competent authorities for consideration and approval according to legal regulations.

The Provincial People's Committee noted the scale and technical complexity of the project, as much of the route traverses wetlands, mangrove forests, canals, and creeks. Weak geological conditions, tidal regimes, and complex hydrology also pose significant challenges to implementation.

As outlined in the National Road Network Master Plan for 2021-2030, with a vision to 2050 (approved by the Prime Minister in Decision No. 12/QD-TTg on January 3, 2025), the Ca Mau – Dat Mui Expressway will span approximately 90 km as the southernmost part of the eastern North - South expressway, which runs from the northern mountainous province of Lang Son to Ca Mau province, with a total length of 2,063 km. The Ca Mau – Dat Mui section is designed as a four-lane expressway, with investment scheduled to be completed before 2030.

-Thanh Thủy

Export activities accounting for the largest share.

Tax agencies issued decisions to refund Value Added Tax (VAT) for businesses totaling nearly over VN29.2 trillion ($1.12 billion) as of March 23 this year, according to the Ministry of Finance.

The figure represents a year-on-year increase of 8%.

In terms of tax-refunded sectors, exports accounted for the largest share, with over VND26.1 trillion (over $1 billion) or 89% of the total, and surging 6% compared to the same period last year.

Meanwhile, investment projects got a refund of more than VND2.92 trillion ($112 million), accounting for 10% of the total and up 39% year-on-year.

 

-Mỹ Văn

The new bidding round invites partners to explore offshore blocks under Vietnam’s updated Law on Petroleum.

Vietnam National Industry - Energy Group (PETROVIETNAM) has officially launched the Vietnam Bid Round (VBR) 2025, inviting qualified companies to participate in bidding for oil and gas exploration and production in offshore Vietnam. The initiative is introduced in alignment with Vietnam’s Law on Petroleum, which offers preferential policies aimed at attracting investment in the sector.

The VBR 2025 covers open blocks located offshore Vietnam, including Block 17 in the Cuu Long Basin, and Blocks 10/11 and 1011-1 in the Nam Con Son Basin.

Interested companies may begin the data review and registration process from 9:00 a.m. on April 15, 2025, until 4:00 p.m. on May 30, 2025, during regular working hours. The issuance of bidding documents will take place between 9:00 a.m. on June 2, 2025, and 12:00 p.m. on June 20, 2025. All bid submissions must be received by 4:00 p.m. on August 1, 2025 (Hanoi time). The bidding process will follow an open tender method.

To participate in the bid, interested parties are requested to submit an Expression of Interest (EOI) to PETROVIETNAM at 18 Lang Ha, Ba Dinh District, Hanoi, Vietnam. Attention should be directed to Dr. Trinh Xuan Cuong, General Manager of the Exploration Division. Inquiries can be sent via email to cuongtx@pvn.vn or by telephone at +84 24 3825 2526 (extension 6601). Fax correspondence may be sent to +84 24 3826 5942.

Upon receiving the Expression of Interest, PETROVIETNAM will provide the necessary documentation and further guidelines for participation. The Group looks forward to engaging with industry partners and facilitating new opportunities in Vietnam’s energy sector.

-

Large-scale, sustainable raw material zones will be developed to adapt to climate change and reduce emissions for key products and services.

Under a detailed action plan, signed recently by Minister of Agriculture and Environment Do Duc Duy, outlining the sector's development goals for 2025, including a value-added growth of 4% or higher in the agriculture, forestry, and fisheries industries.

To achieve this target, the ministry has identified several key tasks and solutions, including:

First, accelerating sector restructuring to boost productivity, quality, and product value, while enhancing efficiency in agriculture, forestry, and fisheries. Large-scale, sustainable raw material zones will be developed to adapt to climate change and reduce emissions for key products and services.

Second, building ecological, transparent, and sustainable agricultural systems linked to environmental protection. Production will be reorganized into specialized cultivation zones with geographical indications, traceability, and standardized planting or farming codes to meet market demands. Efforts will also focus on transitioning food systems toward green, low-emission, and sustainable methods through science, technology, and innovation.

Expanding marine aquaculture and implementing sustainable seafood harvesting practices. A priority will be focused on addressing the European Commission’s "yellow card" recommendations by 2025, with stricter measures against illegal fishing.

Third, streamlining administrative procedures to assist businesses and citizens by reducing and simplifying regulations related to investment, production, and business activities.

Fourth, driving technological breakthroughs and promoting agricultural industrialization. This includes improving agricultural product processing, increasing mechanization, and incorporating smart systems, automation, and science into agricultural production and environmental protection.

Fifth, strengthening market access and trade promotion to remove technical and trade barriers. Official export channels will be established for more products to traditional markets like China, the USA, and the EU, as well as in emerging markets such as Islamic countries, the Middle East, and Africa. A focus will be placed on diversifying products and markets.

-Chu Khôi

These efforts will empower businesses, cooperatives, and production facilities to boost efficiency, expand market reach, and enhance productivity.

The People's Committee of the southern province of Dong Nai has unveiled a plan to maintain the province's position among the top 10 localities in Vietnam's E-commerce Business Index (EBI) by 2025.

This objective is outlined in Plan No. 127/KH-UBND, which focuses on fostering e-commerce.

The plan seeks to deepen the integration of e-commerce into business, production, and consumption activities across the province. By implementing innovative solutions, Dong Nai aims to establish e-commerce as an indispensable part of the province's socio-economic development. These efforts will empower businesses, cooperatives, and production facilities to boost efficiency, expand market reach, and enhance productivity.

Plan 127 goes beyond viewing e-commerce as just a modern sales channel. It highlights its role as a key contributor to State management, particularly in areas such as product traceability, brand promotion, rural digital economy development, and the adoption of cutting-edge technologies from the Industry 4.0.

To achieve these goals, the province will focus on updating and improving its legal and policy frameworks to better support e-commerce development. Outdated regulations will be replaced with mechanisms more attuned to the current context and evolving digital landscape.

Dong Nai's foundation for e-commerce advancement is bolstered by its 32 active industrial zones, which have attracted a substantial number of foreign direct investments (FDI) in the information and communication technology (ICT) sector, including projects in the electrical and electronics industries.

-Xuân Nghi

Two-way trade turnover hitting record high of $4.72 billion in 2024.

Spain will work with Vietnam to upgrade bilateral ties to comprehensive strategic partnership in the coming time, according to Prime Minister Pedro Sánchez, who is on an official visit to Vietnam between April 8-10.

Prime Minister Sánchez made the above statement at a press conference held after his talks with Vietnamese counterpart Pham Minh Chinh in Ha Noi on April 9.

During the talks, the two PMs agreed on measures to continue boosting the bilateral relations, including implementing effectively existing bilateral cooperation mechanisms, and consider the possibility to set up new sectorial cooperation frameworks.

They agreed to effectively implement the EU-Vietnam Free Trade Agreement (EVFTA) and their freshly signed bilateral financial cooperation protocol.

They agreed to promote cooperation in science and technology and innovation.

Both leaders underscored the pivotal role of economic, trade, and investment cooperation as a key pillar of the two countries’ strategic partnership.

The two-way trade between Vietnam and Spain recorded an annual average growth of 9% in the 2019-2024 period. Last year, the two-way trade revenue reached a record high of $4.72 billion.

 

-Tiến Dũng

All the licensed mines are prepared for exploitation, having mobilized equipment, vehicles, and personnel to ensure a steady supply of materials.

The Meking Delta province of Tien Giang has licensed the exploitation of 12 sand mines, with total reserves exceeding 10 million cubic meters, while expediting licensing procedures for remaining mines.

This move aims to meet the rising demand for construction materials required for southern Vietnam’s key transportation projects. 

According to Mr. Doan Van Phuong, Director of Tien Giang's Department of Agriculture and Environment, the Prime Minister has tasked the province with overseeing the extraction of a total of 15.95 million cubic meters of sand from local mines.

The sand reserves will be allocated to major transport projects,  including the Can Tho–Ca Mau Expressway, Cao Lanh–An Huu Expressway, and Ho Chi Minh City’s Ring Road 3.

Out of the remaining 5.8 million cubic meters of sand, six mines have been designated for extraction in the near future. Five of these mines will be licensed for exploitation, while one will operate under a special mechanism to support the construction of the Can Tho–Ca Mau Expressway.

Mr. Phuong confirmed that all 12 licensed mines are prepared for exploitation, having mobilized equipment, vehicles, and personnel to ensure a steady supply of materials.

-Đan Tiên

Auction is scheduled to take place from October 9 to October 11.

The People's Committee of the southern province of Dong Nai has issued a plan for establishing a detailed 1/500 scale construction plan for the 77.28-ha Commercial, Service, and Residential Center (the project) in Long Duc Commune, Long Thanh District.

The detailed construction plan will serve an auction process for the implementation of the project.

Under this plan, the People's Committee requires relevant units to clearly define responsibilities and enhance coordination among departments, sectors, and localities in order to ensure that the documentation is prepared, appraised, and approved in compliance with legal regulations, achieving quality and feasibility upon implementation.

Additionally, the Provincial People's Committee also issued a schedule for outlining tasks and implementation timeline to serve the auction process for land plots for housing development under the project.

The establishment, appraisal, and approval of the detailed 1/500 scale construction plan are scheduled for completion between April 1 and August 1.

The auction process is scheduled to take place from October 9 to October 11.

 

-Hồng Minh

Asia Commercial Bank sets its sights on VND23,000 billion ($920 million) in pre-tax profit and 16 per cent credit growth for 2025, as it begins a new five-year strategy focused on sustainable expansion, digital investment, and consistent shareholder payouts. 2025 Annual General Meeting of Shareholders. Photo: ACB

Asia Commercial Bank (ACB) held on April 8 its 2025 Annual General Meeting of Shareholders, where shareholders approved the bank’s business plan and key initiatives for the year 2025 - a pivotal year in ACB’s 2025–2030 five-year development strategy.

For 2025, ACB aims for a pre-tax profit of VND23,000 billion ($920 million), up 9.5 per cent from 2024, supported by a focus on sustainable growth, risk management, and asset quality. A 25 per cent dividend payout was also approved, comprising 10 per cent in cash and 15 per cent in shares. This continues the bank’s five-year trend of high dividends, including three years of cash distributions, and reflects a consistent business performance and commitment to shareholder returns.

Speaking at the meeting, Mr. Tran Hung Huy, Chairman of the Board, said: “ACB has concluded its previous five-year strategy with notable achievements - tripling profits and delivering consistently high and balanced dividends. Looking ahead, the Vietnam’s economy and financial market would face various challenges in terms of increasing competition and stricter compliance requirements. To meet our strategic goals, ACB will continue to invest in infrastructure and new technology to enhance efficiency and strengthen risk control, with a focus on safety and security.”

Mr. Tran Hung Huy, Chairman of the Board of ACB, at ACB’s 2025 Annual General Meeting of Shareholders. Photo: ACB

In 2025, ACB will continue pursuing its goal of becoming a leading retail bank in both scale and profitability, laying a foundation for the next five-year phase. Key targets include 14 per cent growth in total assets and deposits (including valuable papers), and 16 per cent credit growth. While retail banking remains a core business, the bank also plans to increase its focus on corporate banking, particularly with leading enterprises and FDI clients.

Addressing questions about how economic developments might affect 2025 targets, Mr. Tu Tien Phat, CEO of ACB, said: “Despite economic challenges, including recent US tariff policies, ACB remains committed to its 2025 credit growth targets. Preliminary estimates for Q1 2025 show credit growth exceeding 3 per cent, deposit growth above 2 per cent, and a slight decline in the non-performing loan ratio to 1.34 per cent, indicating effective operational and risk management.”

Mr. Tu Tien Phat, CEO of ACB. Photo: ACB

In line with these targets, ACB plans to expand credit and deposits while maintaining a close watch on asset quality. It will also aim to increase fee-based income, especially in cards and international payments, and continue investing in its subsidiaries to diversify financial products and enhance group performance. Investments in digital banking, modern technology, and secure operational solutions remain a priority.

In 2024, ACB posted a pre-tax profit of VND21,006 billion ($840.24 million), placing it among the top seven banks with profits exceeding VND20,000 billion ($800 million), and among the top three most profitable private banks. The bank completed its 2019–2024 goals, nearly reaching its ambition of being Vietnam’s leading retail bank, with profits tripling and return on equity (ROE) consistently above 20 per cent. By the end of 2024, total assets reached VND864 trillion ($34.56 billion), up over 20 per cent year-on-year and 7 per cent above plan. Loans to customers totaled VND581 trillion ($23.24 billion), a record 19.1 per cent credit growth, well above the sector average and the highest in a decade for the bank.

Beyond financial performance, ACB continued to support government policies and State Bank of Vietnam initiatives through competitive lending rates and preferential housing loans for young customers. The bank has also streamlined loan procedures and offered online disbursement to improve access to banking services.

ACB is one of 10 banks selected by the State Bank of Vietnam to pilot the Internal Ratings-Based (IRB) approach for credit risk and capital management, marking a move toward international Basel standards and enhanced risk control.

According to recent credit rating updates, Moody’s maintained ACB’s outlook at “Stable,” while Fitch Ratings upgraded the outlook from “Stable” to “Positive” in 2024. Domestically, FiinRatings assigned ACB the highest long-term issuer rating of “AA+” with a “Stable” outlook. In March 2025, ACB was named one of Vietnam’s Top 10 Best Banks by Decision Lab (partner of YouGov) and saw an improvement in its brand health score. As part of its sustainable finance strategy, ACB introduced a Sustainable Finance Framework and disbursed VND4,000 billion ($160 million) in 2024 to support businesses aligned with sustainability goals.

-Diep Linh

The reciprocal trade agreement would include agreements on tariffs, according to US Trade Representative Jamieson Greer.

The US agreed to begin negotiations on a reciprocal trade agreement with Vietnam, including agreements on tariffs, as proposed by Vietnamese Deputy Prime Minister Ho Duc Phoc at his meeting with US Trade Representative Jamieson Greer in the US on April 9 (local time).

Mr. Phoc is paying a working visit to the US in his capacity as special envoy of Party General Secretary To Lam.

He emphasized that Vietnam has proactively implemented various measures in recent times to help address the trade imbalance between the two countries and respond to the concerns raised by the US.

He proposed that, although the US has decided to delay the imposition of tariffs by 90 days, the two countries should promptly begin negotiations on a bilateral trade agreement in order to establish a long-term framework to promote a stable and mutually beneficial economic and trade relationship, in line with the Comprehensive Strategic Partnership.

For his part, Mr. Greer proposed that technical-level representatives from both countries start discussions immediately.

He lauded Vietnam’s proactive and positive steps, which demonstrate the country’s strong commitment to advancing the bilateral economic and trade ties.

At the meeting, the two sides consented to continue working closely together to promote a favorable business environment, proactively review and minimize non-tariff barriers on each other’s goods, facilitate greater investment and business activities by US companies in Vietnam, and enhance cooperation in monitoring and preventing trade fraud.

 

-Tiến Dũng

Vietnam has a vision of, by 2050, building a modern railway network and taking full control of all related technologies, from manufacturing rails and switches to self-sufficiency in electrification.

Once a source of national pride, Vietnam’s railway industry has steadily lost ground due to aging infrastructure and poor connectivity. In recent years, however, the Party and the government have intensified efforts to breathe new life into the industry, rolling out ambitious strategies to gradually rebuild and modernize the railway network.

Despite these initiatives, railway transport still holds a modest market share in Vietnam’s transportation sector. According to the National Statistics Office (now under the Ministry of Finance), since 2019, passenger rail transport has never exceeded 0.17 per cent market share. The impact of Covid-19 in 2021 pushed this figure even lower, to just 0.06 per cent. On the freight side, railway transport saw its highest market share in 2021, of 0.35 per cent, but by 2024 this had fallen to just 0.19 per cent, highlighting the ongoing challenges the industry faces.

Improving connectivity

The decline in railway market share stems from multiple factors. One of the most significant is Vietnam’s outdated railway infrastructure. The country still primarily relies on a 1,000 mm gauge system that has been in place for more than a century. Despite ongoing efforts to upgrade and improve service quality, the railway network struggles to meet modern transportation demand, especially when neighboring countries have already adopted the 1,435 mm gauge. This disparity directly affects Vietnam’s railway connectivity, making it difficult for domestic freight transport to integrate with international rail networks.

Within the country, the lack of interconnectivity is even more evident, as the railway network remains largely disconnected from other modes of transportation such as aviation and waterway. This limitation reduces the railway’s role in the logistics chain, preventing it from maximizing its advantages. As a result, many transportation businesses still view rail as a secondary option despite its potential benefits.

With Vietnam’s economy targeting an annual growth rate of over 8 per cent, the development of transport infrastructure and the restructuring of transportation modes have become urgent priorities. The railway sector, in particular, needs to be recognized as a key pillar in reducing pressure on road networks and optimizing the country’s multimodal transport network.

To address these challenges, the government has introduced a Master Plan on the Railway Network for the 2021-2030 Period, with a Vision towards 2050, which focuses on selective development, prioritizing investments in key transport corridors with high demand while making full use of the existing network. It also outlines the construction of modern and well-integrated railway lines that connect seamlessly with seaports, airports, and major economic hubs.

A crucial aspect of this strategy is mobilizing capital from various economic sectors rather than relying solely on the State budget. While public investment will be directed towards building and upgrading railway infrastructure, the private sector is encouraged to participate in manufacturing locomotives and carriages, developing logistics services, and operating transportation systems.

The government is also aiming to establish a modern railway industry capable of maintaining self-sufficiency in equipment production and maintenance while promoting international cooperation to secure technology transfer. The plan emphasizes the application of Industry 4.0 advancements to optimize energy use, reduce environmental pollution, and enhance operational efficiency, ultimately transforming rail transport into a more intelligent and sustainable mode of transportation.

Back on track

Between now and 2030, the primary focus will be on renovating and upgrading the existing railway network while preparing for new routes. Efforts will be made to enhance safety and operational capacity across seven major railway lines, alongside investments in two high-speed rail sections on the North-South corridor. The government has also prioritized the development of railway connections to major seaports, including in Hai Phong in the north and in Ba Ria-Vung Tau in the south, as well as expanding rail links to international airports and key logistics hubs.

Looking ahead to 2050, the government aims to complete the North-South high-speed railway while continuing to expand railway networks connecting seaports, industrial parks, economic centers, and even the central highlands region.

The National Assembly recently approved several key resolutions that together mark a major shift for Vietnam’s railway sector. One of the most significant projects, the North-South high-speed railway line, has estimated investment of over VND1,713 trillion ($67 billion), while the Lao Cai-Hanoi-Hai Phong railway project is set to receive approximately VND203 trillion ($8.37 billion).

Resolution No. 188/2025/QH15, dated February 19, 2025, also introduces special mechanisms and policies to accelerate the development of urban rail networks in Hanoi and Ho Chi Minh City. Under the Resolution, during the 2026-2030 and 2031-2035 periods, the State budget will provide targeted financial support, with a maximum allocation of VND215.35 trillion ($8.3 billion) for Hanoi and VND209.5 trillion ($8.1 billion) for Ho Chi Minh City.

With these ambitious plans and strategic investments, Vietnam’s railway sector is set to undergo a significant transformation, playing a more prominent role in the country’s transportation and logistics landscape.

Seeking self-sufficiency

Vietnam is making comprehensive preparations to achieve a breakthrough in railway development, not only to enhance transportation infrastructure but also to create a vast market for the production of materials, equipment, and construction in the railway industry.

According to Mr. Tran Thien Canh, Director of the Vietnam Railway Authority, there is a significant demand for railway technology products. Specifically, the railway infrastructure construction sector requires 28.7 million meters of rail, 11,680 sets of switches, and 46 million sleepers.

From now to 2030, the railway sector will need an additional 15 locomotives and 26 narrow-gauge (1,000 mm) carriages, along with 250 locomotives and 1,760 standard-gauge (1,435 mm) carriages. By 2045, these numbers will increase substantially, reaching 150 locomotives and 160 narrow-gauge carriages as well as 2,000 locomotives and 10,144 standard-gauge carriages.

In terms of development strategy, by 2030, Vietnam aims to establish the capability to design locomotives and carriages through technology transfer, assembly, and the gradual localization of locomotives operating at speeds under 200 km/h. The railway sector also targets full domestic production of freight and passenger carriages with speeds under 120 km/h, achieving an 80 per cent localization rate. Notably, mastering the technology for manufacturing freight and passenger carriages under 200 km/h has been identified as a key priority.

Beyond rolling stock, the railway sector also aims to independently handle 90 to 95 per cent of the construction techniques for substructures and fully master the design and construction of superstructures for railway lines operating at speeds under 200 km/h. For high-speed rail, Vietnam seeks to participate in 50 to 70 per cent of the construction process, gradually enhancing its expertise in modern railway infrastructure development.

The production of railway materials and equipment is also being prioritized. The domestic metallurgical industry will focus on manufacturing P43 and P50 rails to international standard while mastering the maintenance and replacement of materials and spare parts for standard-gauge railways, urban railways, and high-speed rail.

Vietnam also aims to localize approximately 80 per cent of the power supply networks for locomotives and high-speed rail carriages, progressing towards full mastery of operations, maintenance, and spare part production.

With an ambitious vision for railway development, Vietnam is actively working towards self-sufficiency in vehicle manufacturing technology. By 2050, the country aims to fully master the design, construction, and operation of its railway network, including high-speed urban rail. Furthermore, acquiring and mastering railway signaling and communication technology is another crucial goal. Vietnam seeks to domestically produce 80 to 90 per cent of hardware components while fully developing software for communication and signaling systems.

Looking ahead to 2050, Vietnam’s vision is not only to build a modern railway network but also to take full control of all related technologies, from manufacturing rails and switches to international standards to self-sufficiency in railway electrification. With localization rates projected to reach 60 to 70 per cent across multiple sectors, the railway industry has a tremendous opportunity to rise and become a key pillar of the national economy.

 

* By 2030, the railway sector is expected to transport 11.8 million tons of cargo annually, accounting for 0.27 per cent of the total freight market, and carry 460 million passengers, equivalent to a 4.4 per cent market share

* Freight transport turnover is estimated at 7.35 billion ton-kilometers, making up 1.38 per cent of the market, while passenger turnover is expected to hit 13.8 billion passenger-kilometers, capturing 3.55 per cent of the market.

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-Minh Kiệt

The figure marking a 3.2-fold increase year-on-year.

Southern Binh Duong province attracted $630 million worth of FDI capital in the first quarter of 2025, a 2.3-fold increase compared to the same period last year, according to the provincial People’s Committee.

Of the total, industrial parks drew $588 million, up 32% year-on-year.

The province also lured VND31 trillion ($1.18 billion) worth of domestic investment.

Binh Duong also recorded impressive growth in other economic indicators in the first quarter. Its GRDP grew 7.5% year-on-year, Index of Industrial Production (IIP) surged 7.51%, and export revenue reached nearly $8.6 billion, soaring 8.8%.

Total revenue of retail sales of consumer goods and services stood at more than VND92.8 trillion ($3.55 billion), rising 13.8% year-on-year.

 

-Thanh Thủy