By 2030, the country’s commercial electricity consumption is expected to reach 500.4–557.8 billion kWh, rising to 1,237.7–1,375.1 billion kWh by 2050.

Vietnam will require an annual investment of around  $16–18 billion from now until 2035 to implement its revised National Power Development Plan (PDP VIII), the Vietnam News Agency quoted the Ministry of Industry and Trade as reporting on May 2.

This amount will rise to approximately $20 billion per year thereafter.

The updated PDPVIII, approved under Prime Ministerial Decision No. 768/QD-TTg, dated April 15, 2025,  outlines ambitious targets to ensure national energy security and meet economic growth demands.

The country aims to supply sufficient electricity to support average GDP growth of 10% per year between 2026 and 2030, and 7.5% per year from 2031 to 2050.

According to the updated PDPVIII, by 2030, Vietnam’s commercial electricity consumption is expected to reach 500.4–557.8 billion kWh, rising to 1,237.7–1,375.1 billion kWh by 2050. The total power generation and imports are projected at 560.4–624.6 billion kWh by 2030, with a 2050 forecast of 1,360.1–1,511.1 billion kWh.

Peak load capacity is forecast to hit 89,655–99,934MW by 2030 and 205,732–228,570MW by 2050.

The plan also places strong emphasis on reliability and resilience. It sets the goal of achieving N-1 reliability standards for critical load areas and N-2 for highly critical zones and nuclear power facilities by 2030.

N-1 means the power grid can handle the failure of one component without disruption, while N-2 ensures reliability even if two critical elements fail.

Vietnam is aiming to be among the top four ASEAN countries for electricity reliability and in the top three for ease of electricity access.

To support the plan’s rollout, Minister of Industry and Trade Nguyen Hong Dien has called on EVN and relevant agencies to review pricing regulations and adopt market-based electricity pricing mechanisms to attract investors. Local departments are tasked with updating local power projects in line with increased capacity projections in the revised PDP VIII.

The minister also urged stronger communication efforts to build public consensus around the plan and called for more frequent inspections of power generation and grid projects, to ensure timely implementation.

Authorities have been instructed to address project delays by replacing stalled developments with more feasible alternatives.

Vietnam is also pushing for increased rooftop solar adoption, aiming for 50% of office buildings and residential homes to use self-produced, self-consumed solar power by 2030 – without feeding back into the national grid.

-Phạm Long

The Vietnam Energy Forum 2025, co-held by Vietnam Economic Times / VnEconomy, heard from policymakers, industry insiders, representatives from associations, and international organizations on identifying solutions for Vietnam’s future energy development.

Mr. Nguyen Phan Dinh, Head of the Renewable Energy and Energy Efficiency Working Group under the Green Growth Sector Committee, EuroCham Vietnam

In line with the spirit of the revised National Power Development Plan VIII (PDP8) Vietnam will continue to promote the development of renewable energy, aiming for a share of 45 per cent (excluding hydropower) in the country’s total installed power capacity by 2030.

From the perspective of investors, this is a highly promising and attractive target. Based on current estimates, at least 400 wind power projects and 600 solar power projects are expected to be newly developed from now until 2030. This is quite an overwhelming figure to achieve within just five years.

To realize this goal, a clear legal framework is essential, along with strong guidance from State agencies to local authorities in cities and provinces. The goal should be to enable investors to focus solely on their investment activities without having to navigate complicated procedures and figuring out which steps come first and which follow.

Since the beginning of this year, the Prime Minister has issued three new decrees replacing previous ones that guided the implementation of the Law on Electricity. In 2024, the government issued Decree No. 80/2024/ND-CP on the direct power purchase mechanism, but its implementation encountered several obstacles.

Now, with Decree No. 57/2025/ND-CP, it reflects the spirit of collaboration between State authorities and businesses, creating opportunities for third party investors to develop rooftop solar projects within industrial parks and sell electricity directly to the enterprises operating in those parks.

With these newly-issued decrees, investors now find the legal environment much more transparent. However, one lingering concern is how to secure capital. The decrees stipulate that when investing in power projects, the investor’s charter capital must account for 30 per cent of the total, with the remaining 70 per cent allowed to be financed through bank loans. However, banks currently do not fully understand the mechanisms and models outlined in these new decrees.

Another concern lies in whether banks will reassess past investment projects and evaluate potential risks. In recent times, 173 renewable energy projects have faced difficulties related to the Feed-in Tariff (FIT) pricing mechanism, with delays in implementing FIT rates. Many of these projects are now under inspection. This situation is causing concern among investors and banks, as if new regulations or policy changes arise during the construction phase they could significantly impact project operations once they go online.

 

Mr. Pham Van Tan, Deputy Director General of the Department of Climate Change, Ministry of Agriculture and Environment

We advised the government in making the commitment to achieving net-zero emissions by 2050. This commitment, announced by the Prime Minister at COP26 in 2021, not only highlights Vietnam’s vast potential in wind and solar energy but also underscores the importance of international support and financial mechanisms under the Paris Agreement.

We have translated these commitments into detailed plans for each phase. The commitment is also reflected in Vietnam’s updated Nationally Determined Contribution (NDC), which was revised in 2022 and submitted to the United Nations with specific targets for 2030. These targets are also outlined in the National Power Development Plan VIII (PDP8). Accordingly, by 2030, Vietnam aims to reduce greenhouse gas emissions by 15 per cent compared to a business-as-usual scenario using domestic resources. With full international support, emissions reductions could reach up to 42 per cent. It is projected that Vietnam’s greenhouse gas emissions will continue rising until 2035. However, thanks to a just energy transition and with international support, we aim to peak emissions by 2030, after which they will gradually decline.

Currently, we are reviewing and preparing Vietnam’s new commitments for the 2026-2035 period while also assessing progress on existing commitments to 2025. However, our preliminary assessment indicates that only about 40-50 per cent of the committed measures have been implemented. The remainder are still under evaluation, and it may take another month before we obtain concrete results. Given the current situation, there is a high risk that Vietnam may not achieve its net-zero emissions target by 2050. If the final assessment confirms this, we will have to report to the government on the likelihood of failing to meet the commitment under the current approach, prompting the need for adjustments.

While we have the right policies in place for reducing greenhouse gas emissions, implementation remains challenging, and progress is slow. Meanwhile, the energy sector must support economic growth targets of 8 per cent in 2025 and over 10 per cent annually during 2026-2030. This will drive up energy consumption and emissions. Vietnam can achieve low-emission targets but maintaining high economic growth is a major challenge, and we hope for collective efforts to realize this goal. We aspire for Vietnam’s greenhouse gas emissions to decline faster than in a business-as-usual scenario. To achieve this, we must rapidly expand solar power, wind power, and nuclear energy.

 

Associate Professor Pham Hoang Luong, Vice President of the Vietnam Clean Energy Association

How can we achieve an energy transition while ensuring economic development, keeping energy costs manageable, and meeting environmental criteria? This is a major question that many countries worldwide are striving to address. In reality, the energy transition has been outlined through clear directions, such as increasing the share of renewable energy and promoting energy efficiency. The goal is to reduce energy intensity and emissions intensity per unit of product or per dollar in GDP.

However, Vietnam still faces many challenges in developing new energy sources, such as green hydrogen and green ammonia, as well as carbon capture and utilization. These technologies currently encounter significant cost barriers. Therefore, we need to adjust our strategy from now to 2030, clearly identifying necessary actions to develop sustainable energy sources.

The adjustment of the National Power Development Plan VIII (PDP8) emphasizes the importance of ensuring a stable baseload energy supply. The energy transition must guarantee supply stability while keeping energy costs at reasonable levels so that businesses and the public can afford them.

Nuclear power, with its robust technology, will play a crucial role in the future. However, until 2050, we still need to maintain other baseload energy sources such as coal and gas-fired power plants. These must be used more efficiently, with investments in emissions reduction technologies for coal power plants. It is essential to apply new technologies to reduce emissions from coal-fired power plants and explore fuel conversion solutions, such as co-firing ammonia. However, this transition may only be feasible after 2035-2040.

The Prime Minister has also directed the development of the Law on Economical and Efficient Energy Use, assigning the Ministry of Industry and Trade to review and revise the law to comprehensively cover all aspects, from power generation, transmission, and distribution to consumption and pricing.

Regarding end-users, this remains a significant bottleneck. Businesses must consider energy consumption indicators as critical technical metrics. The revised Law on Energy Efficiency, expected to be passed in May, will propose establishing a fund for energy efficiency initiatives.

Previously, our focus was limited to simple measures such as turning off lights or optimizing operations. However, reducing energy costs per unit of production must go hand-in-hand with technological transformation, which requires investment. This law will include provisions for an investment fund dedicated to energy efficiency. More importantly, we must build public awareness and encourage investment in energy-saving technologies to ensure a successful energy transition.

 

Mr. Dang Huy Dong, President of the Planning and Development Institute

The total investment required for energy development under the adjusted draft of the National Power Development Plan VIII (PDP8) amounts to $136 billion. If we rely on domestic capital sources, including all commercial banks and major enterprises, we can only secure about 30 per cent due to certain limitations. This means that out of the $136 billion, we need to mobilize approximately $70-80 billion from external sources.

We have discussed technical aspects extensively. However, all technical and technological solutions are already available globally, even for complex technologies such as nuclear energy, with multiple suppliers. The real challenge in attracting investment lies in the fact that investors can only cover a maximum of 30 per cent in equity capital, while the remaining 70 per cent of the $70-80 billion must be raised from financial institutions and global capital markets.

If international financial institutions are not satisfied with the risk-sharing mechanisms in place, the prospect of securing sufficient investment will be beyond the control of both the host country and investors. Whether we can obtain the remaining $50-60 billion depends entirely on our ability to meet these institutions’ risk-sharing requirements.

The purpose of foreign exchange reserves is to ensure the stability of essential goods for the economy, and electricity is an essential good. However, for the past five or six years, this issue has remained unresolved. The two recent decrees did not address this matter at all. Furthermore, we must ensure payment security for investors and loan providers so they can recover their funds. If at any point the sole electricity buyer, Vietnam Electricity (EVN, a State-owned enterprise), fails to make payments for any reason, there must be a backup payer. Otherwise, investors will go bankrupt.

These risks are not created by investors but are precautionary measures. If State management is effective and policies are well-designed, these risks will not materialize, meaning we will not have to fulfill such commitments. This has been demonstrated in past build-operate-transfer (BOT) projects, such as coal-fired power plants in southern Dong Nai province, where, after 25 years, the government has never been called on to honor its commitments. In essence, these guarantees serve as a safeguard.

I sincerely hope we can fully reflect that the government and the leadership of the Party must provide clear guidance.

 

Ms. Virginia Foote, Vice Chair of AmCham Hanoi, Board Member of the Vietnam Business Forum and the Power and Energy Working Group

Compared to the current National Power Development Plan VIII (PDP8), the high-demand scenario proposed in the draft revision, published for public consultation in early February, requires a greater volume of investment capital for the period from now to 2030.

The Power and Energy Working Group under the Vietnam Business Forum, which represents 14 foreign business associations in Vietnam, fully supports the increase in solar power capacity. This expansion is not only aimed at serving self-generation and self-consumption needs but also at enabling large electricity consumers to participate in the Direct Power Purchase Agreement (DPPA) mechanism. Short-term solutions like these are essential to supplement generation capacity near consumption points and reduce grid congestion.

During consultations with the Ministry of Industry and Trade and the government while developing the draft decree on the DPPA mechanism, we expressed our support for the early issuance of the decree. We also emphasized the need for continued collaboration between businesses and regulators during its implementation to address any emerging issues in a timely manner.

We appreciate that stakeholder feedback was taken into consideration in the newly-issued Decree No. 57/2025/ND-CP on the DPPA mechanism. Moving forward, we will continue to monitor its implementation and support the Ministry of Industry and Trade in executing four additional decrees recently promulgated to guide the implementation of the Law on Electricity 2024.

Vietnam’s energy transition is entering a pivotal phase, and the recent progress in the regulatory framework marks a significant step forward. The foreign business community remains committed to supporting Vietnam in achieving its energy goals: working towards stable, sustainable, and affordable electricity supply.

Reducing risks and uncertainty in the eyes of investors by providing a clear roadmap for market access and ensuring investment stability will encourage greater capital inflows into the economy.

To realize this ambition, we must continue to promote dialogue, improve policy, and ensure effective enforcement. All development sectors depend on energy, and through close collaboration between the government, the business community, and stakeholders, we can build a resilient power sector that is future-ready and delivers benefits to all.

 

Mr. Ta Dinh Thi, Vice Chairman of the National Assembly Committee on Science, Technology and Environment

In 2023, the National Assembly’s Standing Committee conducted a thematic supervision on the implementation of policies and laws for energy development during the 2016-2021 period.
As a result, the Standing Committee issued Resolution No. 937/NQ-UBTVQH15, which clarified the difficulties, bottlenecks, and shortcomings, identified their causes and responsible parties, and proposed solutions for the focused development of energy in the upcoming phase. These solutions primarily target policy areas and highlight tasks to be completed by 2025, extending to the period up to 2030 and with a long-term vision to 2045.

In 2024, the National Assembly passed the amended Law on Electricity, which includes numerous advancements and stipulates new policy directions, especially in power development planning. The law dedicates an entire chapter to the development of renewable and new energy sources, including offshore wind power and nuclear energy policy.

On November 25, 2024, the 13th Party Central Committee’s Plenum reached a consensus to revive the Ninh Thuan Nuclear Power Project.

On November 30, 2024, the 15th National Assembly approved a resolution at its 8th session that endorsed the project’s resumption. At a recent extra-ordinary session, the legislature also passed a resolution introducing several special mechanisms and policies to facilitate the construction of the Ninh Thuan plant, many of which are aimed at shortening the project implementation timeline.

Nuclear power holds several important aspects, serving as a baseload power source enabling Vietnam to further develop renewable energy. It is also a clean energy source that helps reduce emissions. The development of nuclear energy will lay the scientific and technological foundation for Vietnam to step into a “New era - The era of the nation’s rise”.

In my view, there are a few key areas we must focus on moving forward.

First, the Politburo is currently directing the five-year review of the implementation of Resolution No. 55-NQ/TW on Vietnam’s national energy development strategy orientation to 2030, with a vision to 2045. This review will be crucial for identifying new directions and strategic adjustments for the next phase and the new era.

Second, in the upcoming 9th session, the National Assembly will consider several laws directly related to energy, such as the amended Law on Atomic Energy. A key element of this draft is to accelerate the construction of the Ninh Thuan Nuclear Power Plant.

In addition, the amended Law on Economical and Efficient Use of Energy will include policies that encourage green energy development and promote energy-saving and efficiency measures.

Furthermore, the Law on Science, Technology, and Innovation will also be presented for feedback at the 9th session. This law is among the legislative tools to implement Resolution No. 57-NQ/TW of the Politburo, which calls for breakthroughs in science, technology, innovation, and national digital transformation. Its enactment is expected to create a new legal framework to encourage innovation, develop emerging technologies, and steer the country towards sustainable development.

The National Assembly is also overseeing a supreme audit of the implementation of environmental protection policies and laws since the Law on Environmental Protection 2020 came into effect. It is evident that we are now focusing on adjusting our legal and policy frameworks. Alongside the Law on Electricity, several decrees and circulars to guide its implementation are being issued.

At the same time, we must review and update planning and development strategies. The National Power Development Plan VIII (PDP8) is currently under consideration for revision. It is also essential to further refine policies that encourage private sector investment in the energy sector.

 

Mr. Hong Sun, Honorary Chairman of the Korean Chamber of Commerce in Vietnam (KOCHAM)

I have been involved in the process of building nuclear power plants since 2000. At that time, South Korea’s goal was to participate in the global nuclear power market starting in 2012. In 2009, the President of South Korea worked directly with leaders in the United Arab Emirates (UAE). At that time, it was agreed that South Korea would build power plants in the UAE. The project broke ground in late 2011, and the first reactor, with a capacity of 1,400 MW, was delivered in 2018.

To date, all four reactors have been put into operation, with a total capacity of 5,600 MW. This is nearly equivalent to the target capacity of 6,000 to 6,400 MW that Vietnam has set in the revised PDP8. A country traditionally known for exporting oil has chosen to build nuclear power plants, which demonstrates that this is a modern and safe technology. South Korean companies highly appreciate the determination of Vietnam’s leadership to develop nuclear energy.

At COP26 in 2021, Prime Minister Pham Minh Chinh committed that Vietnam would achieve net-zero emissions by 2050. It will be extremely difficult for Vietnam to meet this goal without investing in the development of nuclear power. Additionally, high-tech industries such as semiconductors and AI, which Vietnam aims to focus on, are energy-intensive sectors that require Vietnam to significantly increase its electricity generation capacity.

Although the decision to build nuclear power plants was made a bit late, choosing the right partners will help Vietnam achieve its nuclear energy development goals. If selected, South Korean companies are ready and very confident that they can help Vietnam develop its nuclear power sector at reasonable costs and with high reliability. In 2024, South Korea signed a cooperation agreement with the Czech Republic to build two nuclear power plants similar to those built in the UAE.

In both quantity and quality, South Korean investors are leading the way in Vietnam. South Korea is fully prepared and will cooperate comprehensively with Vietnam on energy development, including nuclear energy. This cooperation, including the sale of equipment for nuclear power plant construction, will significantly enhance energy cooperation between the two countries, ensuring that this relationship will endure in the future. As in the UAE, the contract for the construction, operation, and handling of nuclear fuel with South Korea could last up to 100 years. Cooperation in the nuclear sector can help sustain the relationship between the two countries for many decades.

In addition to nuclear power, South Korean investors are also very interested in investing in the development of other renewable energy sources in Vietnam, such as solar power, rooftop solar, and wind power. In particular, the gas power sector is a field that South Korea is very interested in and is in the process of applying for permits to invest in Vietnam.

However, when investing in Vietnam’s renewable energy sector, foreign investors, including those from South Korea, are concerned about the profitability of the projects. Since each energy project requires billions of USD in investment, companies need financial support through government guarantees. Though the Vietnamese Government has made efforts to support foreign investors in this regard, South Korean companies hope this support will be expanded and applied in a timely manner.

 

Mr. Stuart Livesey, CEO of Copenhagen Offshore Partners, Representative of Copenhagen Infrastructure Partners, Member of the Offshore Wind Task Force of the Vietnam Energy Partnership Group

Vietnam has made significant and positive strides forward over the past 12 months by issuing and passing laws, regulations, and mechanisms to develop the domestic energy sector. Notably, the amended Law on Electricity was passed in November 2024, and several other decrees are being implemented this year. These regulations will provide a foundation for the development of Vietnam’s energy sector in the future, including renewable energy, by ensuring confidence among investors, energy project developers, and electricity suppliers.

Investment in the energy sector always carries risks, but it is crucial that these risks are shared between investors, who have committed substantial capital to projects, and the government. In addition to sharing risks, both parties must also take responsibility for implementing measures to mitigate risks for energy projects.

Having established the foundational regulations, we now need to focus on applying these regulations to improve efficiency and address bottlenecks in the licensing, investment funding, construction, and implementation of energy projects in Vietnam.

Vietnam also needs to fully prepare its electricity grid infrastructure to support energy projects that have been and will be deployed. Robust and stable infrastructure would provide reassurance to investors, convincing them to invest in energy projects in Vietnam.

In addition to preparing the foundation for power projects, Vietnam also needs to pass reasonable mechanisms to ensure that electricity producers can generate profits from their operations. One important regulation to serve this purpose is the Direct Power Purchase Agreement (DPPA) mechanism. Under this mechanism, the direct electricity trading between renewable energy producers and consumers through dedicated lines is clearly defined, enhancing business trust for electricity producers.

However, indirect electricity trading through the Vietnam Electricity (EVN) grid, when producers and consumers are far apart, still presents many issues that cause concerns for both buyers and sellers. Producers, when wanting to sell electricity indirectly through EVN’s grid to consumers, are still required to sign power purchase agreements with EVN. Moreover, EVN cannot guarantee that it can accept and transmit electricity from renewable energy producers.

Additionally, electricity trading through the EVN grid also faces bottlenecks in payment processes, contract negotiations, contract termination, and more. Though EVN has the right to charge transmission fees for electricity producers, this agreement must ensure that renewable energy investors can achieve profitability from their projects.

 

Mr. Chandan Singh, Country Managing Director, Vietnam, at Hitachi Energy

From the early stages of developing renewable energy sources like wind and solar, the inability of the power grid to transmit energy from new projects has been a challenging issue for Vietnam.

Recently, Prime Minister Pham Minh Chinh attended the breaking ground ceremony for the 500kV Lao Cai - Vinh Yen transmission line and asked that this project be completed within the year. Though Vietnam is continuously building and commissioning high-voltage transmission lines, transmitting electricity from renewable energy projects still faces difficulties.

Vietnam is developing its energy model in the right direction, using nuclear power as a foundation, supplemented by renewable energy. From the perspective of a global equipment supplier, Hitachi Energy believes that Vietnam will face challenges because the timeframe for implementing these projects, according to the government’s plans, is too short.

Therefore, if Vietnam wants to significantly increase wind and solar power capacity in the years ahead, investment decisions for infrastructure must be made as soon as possible. Unlike the electricity grid in other countries that are transitioning to renewable energy, Vietnam lacks specialized equipment to mitigate the instability of renewable energy, energy storage facilities, and proper grid connectivity for energy trading activities.

Though Vietnam is building transmission lines for energy trade with Laos and China, the investment process for this infrastructure needs to be accelerated. The government’s decision to invest nearly $15 billion in the power grid over the next five years will help facilitate this process.

-Vietnam Economic Times

The central province attracts 5.2 million tourists in the period.

Central Thanh Hoa province posted total tourism revenue of VND8.39 trillion ($320 million) in the first four months of the year, up 13.9% year-on-year, according to the provincial Department of Culture, Sports and Tourism.

The province welcomed over 5.2 million tourists in the period.

The growth is attributed to the province’s efforts in improving tourism infrastructure and operation of new tourism attractions such as water parks, walking streets and a cultural space.

In order to attract more tourists, the province plans to organize 150 cultural, sports and tourism events this year; develop more tourism products; and accelerate the implementation of tourism projects.  

 

-Nguyễn Thuấn

The hub directly displays and operates a complete core 4.0 technology ecosystem mastered by Vietnamese people.

The CT Group Innovation Hub, belonging to the CT Group, was inaugurated at 20 Truong Dinh, Ho Chi Minh City, on April 29.

Accordingly, the CT Innovation Hub, together with the 4.0 Generation Innovation Center Alliance (IHA), connects more than 60 domestic innovation centers and over 100 international ones. This network will not only facilitate technology transfer but also expand the flow of knowledge and share resources between Vietnam and the world.

Furthermore, the CT Innovation Hub does not simulate theories or showcase imported technologies but directly displays and operates a complete core 4.0 technology ecosystem mastered by Vietnamese people.

At the CT Innovation Hub, students, scientists, and businesses can witness firsthand unmanned aerial vehicles (UAVs), self-developed AI products, models of semiconductor factories, 4.0 foldable houses, ESG (environmental, social, governance) technologies serving sustainable economics, and breakthrough research in the fields of gene and cell technology.

Simultaneously, the establishment of the CT Innovation Hub also lays the foundation for creating a wave of practical innovation, 4.0-style innovation among young people, attracting talented Vietnamese individuals worldwide to return their homeland and contribute to the national development.

"Innovation must be realized through practical, specific, and effective actions. We aspire to join hands with the Government, agencies, departments, the business community, and intellectuals both domestically and internationally to build a strong innovation ecosystem that contributes to sustainable socio-economic development. The CT Innovation Hub aims to create an environment that encourages the 4.0 generation to constantly innovate, create, and contribute," said Mr. Tran Kim Chung, Chairman of CT Group.

-Phạm Vinh

The Centre for Economic and Business Research (CEBR) forecasts that Vietnam will become the second-largest economy in Southeast Asia after Indonesia and the 20th-largest economy in the world by 2036.

The Centre for Economic and Business Research (CEBR) was quoted by the Vietnam News Agency as forecasting that Vietnam will become the second-largest economy in Southeast Asia after Indonesia and the 20th-largest economy in the world by 2036.

According to the CEBR’s report titled “World Economic League Table 2022”, as of 2021, Vietnam was estimated to have a purchasing power parity adjusted GDP per capita of $11,608 .

It said Vietnam's economic growth story has been nothing short of a miracle, with the Doi Moi (Renovation) reform in the mid-1980's, coupled with favorable global trends, enabling the nation to achieve rapid economic growth and propelling the country from a poor country to a lower-middle-class country.

Vietnam aspires to attain a high-income status by 2045. For this to happen, it must grow at an annual average rate of approximately 5 % per capita. Nonetheless, it faces key challenges on its path to becoming a high-income country. With global trade declining and its population ageing, it needs to improve its policy implementation performance drastically, particularly in sectors that will be severely affected by automation and climate change.

Between 2021 and 2036, CEBR forecasts that the position of Vietnam in the World Economic League Table will improve considerably, with its ranking rising from 41st to 20th by 2036.

-Vân Nguyễn

In an official dispatch signed on April 30, Prime Minister Pham Minh Chinh asked the Minister of Construction to set the stage for the project’s groundbreaking on December 19, 2025.

Prime Minister Pham Minh Chinh signed an official dispatch on April 30 to accelerate the implementation of the Lao Cai - Hanoi - Hai Phong railway project which is scheduled to break ground on December 19, 2025.

The official dispatch has been sent to the Ministers of Construction, Foreign Affairs, Agriculture and Environment, and Finance, Secretaries of the provincial/municipal Party Committees and Chairpersons of the provincial/municipal People’s Committees of Hanoi, Lao Cai, Yen Bai, Phu Tho, Vinh Phuc, Bac Ninh, Hung Yen, Hai Duong, and Hai Phong, through which the projected railway will run

In the dispatch, the PM asked the Minister of Construction to work closely with local authorities to hasten land clearance, compensation, resettlement, site surveys, and the drafting of a feasibility study, which must be completed by June 2025, setting the stage for the project's groundbreaking on December 19, 2025.

The minister was also required to promptly finalize the National Assembly's draft resolution on special mechanisms and policies to support railway development. The draft must be reported to the Government by May 5, then submitted to the upcoming 9th meeting of the National Assembly for review.

The Chairpersons of the above provincial/municipal People’s Committees must urgently establish local steering committees for land clearance by May 5. These committees, led by the respective Secretaries of the provincial/municipal Party Committees, will oversee the completion of compensation, resettlement, and the feasibility study by August 2025.

Other specific tasks were assigned to relevant ministers and localities to support the project’s progress. Deputy Prime Minister Tran Hong Ha will directly oversee the project and address any arising obstacles.

-

H.E. Marco Della Seta, Ambassador of Italy to Vietnam, tells Vietnam Economic Times / VnEconomy’s Ngoc Lan about the prospects for economic and trade relations between Vietnam and Italy, especially with the EU-Vietnam Free Trade Agreement having officially come into effect in 2020.

The official entry into force of the EU-Vietnam Free Trade Agreement (EUVFTA) in August 2020 created a huge and important turning point in promoting economic and trade cooperation between Vietnam and the EU in general and Vietnam and Italy in particular. What impressive trade and investment relations between the two countries did the EUVFTA bring about?

Since the EUVFTA came into effect, we have observed an acceleration in Italy-Vietnam trade relations. In 2019, prior to the agreement, bilateral trade amounted to approximately $5.3 billion. Despite the Covid-19 pandemic, that figure held steady in 2020 and quickly rebounded in 2021, with trade reaching over $5.6 billion and then growing to $6.2 billion in 2022.

Bilateral trade climbed further in 2024, to nearly $6.9 billion, for a 13.4 per cent increase year-on-year. Italian exports to Vietnam grew 21 per cent, supported by the gradual elimination of tariffs in key sectors such as machinery, pharmaceuticals, and chemicals. At the same time, Vietnam’s exports to Italy rose by over 10 per cent, with strong performances in electronics, footwear, and agri-food. Beyond the numbers, the EUVFTA has fostered stronger business ties, encouraged high-standard regulatory alignment, and created new space for technological cooperation and investment between our two countries.

Vietnam is Italy’s largest trading partner in ASEAN. What advantages does Vietnam hold, especially compared to other countries in the region?

Vietnam stands out in ASEAN thanks to its stability, integration into global trade networks, an increasingly skilled workforce, and a growing domestic market. The country has cultivated a competitive export capacity while demonstrating a high level of openness to international cooperation.

What further enhances Vietnam’s appeal today is its ability to position itself as a partner for international supply chains. In the current global climate, Vietnam offers an attractive environment for companies that are pursuing diversification and “de-risking” strategies. More specifically, Vietnam can act as a hub for companies looking to serve both the local market and export to neighboring countries.

What are Italy’s priorities in further promoting trade and investment relations between the two countries?

Italy’s priorities with Vietnam are centered on sectors where our know-how and technological expertise can bring added value and respond to Vietnam’s economic goals.

Machinery is already the largest category of Italian exports to Vietnam, with Italian manufacturing equipment increasingly appreciated by Vietnamese partners seeking high productivity and innovation, especially in packaging, textiles, and precision mechanics. In agribusiness and food processing, Italy offers advanced technologies and experience in sustainable and traceable food systems. As a leader in high-quality and sustainable agri-food production, Italy sees great potential in expanding trade in this area.

At the same time, we are actively engaging to ease market access for Italian agri-food products in Vietnam. Health and pharmaceuticals is another sector that continues to expand in terms of export volumes. Luxury and fashion, meanwhile, will present significant opportunities in the near future due to Vietnam’s rapidly-expanding middle class and increasing purchasing power.

What primary challenges or obstacles may hinder the further strengthening of economic and trade relations between Vietnam and Italy?

While Vietnam-Italy economic relations continue to strengthen, certain structural challenges remain. One of the most pressing is the development of infrastructure and energy networks, which are critical pillars supporting industrial competitiveness, trade logistics, and Vietnam’s long-term sustainability objectives. In this regard, Italy intends to actively contribute to the improvement of transport infrastructure and energy systems, and we see opportunities for Italian businesses to integrate into Vietnam’s ambitious modernization plans, particularly in the transportation sector.

At the same time, Italy is closely following Vietnam’s efforts under the National Power Development Plan VIII (PDP8) and the Just Energy Transition Partnership (JETP), and we are committed to accompanying the country’s green transition through concrete involvement in strategic projects such as the Bac Ai pumped storage hydropower plant. These initiatives offer a tangible framework for enhanced bilateral cooperation in renewable energy, smart grids, and sustainable engineering.

International trade is now marked by a host of concerns. How does this affect Vietnam and the trade and investment relations between the two countries?

The international context has not significantly disrupted trade between Italy and Vietnam. One key reason is that Vietnam is not currently subject to country-based trade defense measures in key markets. When it comes to investments, the situation is more complex. The general climate of uncertainty, which is linked to geopolitical tensions, high interest rates, and supply chain volatility, can result in delayed investment decisions. Investors are more cautious, and some projects may be postponed as companies reassess risks.

What suggestions do you have for Vietnam to improve and further promote trade and investment relations between the two countries, especially in creating favorable conditions for businesses to take advantage of opportunities from the EUVFTA?

We commend Vietnam for its progress in improving its business climate and note the government’s growing attention to the concerns raised by the business community. Continued efforts in this direction are key to fully leveraging the EUVFTA. We encourage Vietnam to continue streamlining procedures in key areas such as work visa issuances, customs operations, and investment licensing. These reforms are essential to attract quality FDI and facilitate the operations of international companies. Support for small and medium-sized enterprises (SMEs) and legal certainty in areas like intellectual property are also important steps towards building an even more competitive economic environment.

 

-Ngoc Lan

FPT Corporation and Marvell Vietnam Technology Company Limited have been chosen as the city's first strategic partners in semiconductor integrated circuits and artificial intelligence.

The People's Council of the central city of Da Nang, at its recent 23th sitting, has passed a Resolution recognizing FPT Corporation and Marvell Vietnam Technology Company Limited as the city's first strategic partners in semiconductor integrated circuits and artificial intelligence.

According to a report submitted to the sitting by the City People's Committee, both FPT Corporation and Marvell Vietnam fully meet the criteria for strategic partnership in alignment with Da Nang’s long-term objectives for developing its semiconductor industry.

As strategic partners, the two enterprises will benefit from preferential policies under Resolution No. 136/2024/QH15, issued by the National Assembly on June 26, 2024, which outlines urban governance reforms and specific mechanisms for Da Nang’s economic development.

The City People's Committee noted that FPT Corporation and Marvell Vietnam Technology Company Limited (a subsidiary of Marvell Technology, Inc., USA) have committed to supporting Da Nang in software, hardware, human resource training, and other key areas essential for the advancement of semiconductor and AI technologies. Both companies have pledged long-term development in Da Nang for at least five years.

This partnership is the result of continuous engagement between Da Nang City leaders and major technology corporations in the semiconductor sector, culminating in the signing of a Memorandum of Understanding on January 16, 2025.

Da Nang is implementing multiple initiatives to establish itself as one of Vietnam’s top three centers for semiconductor integrated circuit design and AI application development by 2030.

The city aims to have at least 30 semiconductor design enterprises and service providers and attract at least 1 to 2 packaging and testing enterprises as part of its long-term vision.

-Ngô Anh Văn

Prime Minister Pham Minh Chinh chairs the sixth meeting to further discuss tariff negotiation strategies with the United States.

Prime Minister Pham Minh Chinh on April 29 chaired a meeting in Hanoi to further discuss tariff negotiation strategies with the United States.

The Prime Minister was quoted by the Government News as saying at the meeting that Vietnam will continue to amend its legal framework to address the concerns of the U.S., based on ensuring national sovereignty and international commitments, and in accordance with the laws of both countries.

This is the sixth meeting the Prime Minister has convened to implement the conclusions and directives of the Party Central Committee, the Politburo, and Party General Secretary To Lam in response to the U.S. reciprocal tariff policy.

According to the Prime Minister, Vietnamese authorities have actively addressed issues related to product origin, non-tariff barriers, intellectual property, copyright, and streamlining of administrative procedures.

The Prime Minister also requested that negotiations be expedited to sign in May, contracts including purchase and import of U.S. goods such as LNG, aircraft, pharmaceuticals, medical supplies, and agricultural products, in order to ensure a sustainable trade balance between the two countries.

Negotiations must be conducted in a calm, steadfast, and highly flexible manner while ensuring national sovereignty, security, and interests, as well as upholding international commitments, the Government leader noted.

Vietnamese agencies should engage in discussions with the U.S. to bring down import tariffs on each other's goods to mutually low and balanced levels, the Prime Minister said.

He called on the U.S. to soon recognize Vietnam as a market economy and lift restrictions on high-tech exports, with a view to promoting trade balance, facilitating technology transfer, and demonstrating the U.S.'s commitment to supporting an independent, strong, resilient, and prosperous Vietnam.

Vietnam is also working closely with ASEAN and other countries in the region to carry out negotiations that ensure a balance of interests and a sustainable trade balance between both sides, in line with the Comprehensive Strategic Partnership between the bloc and the U.S., according to the Government leader.

-Phạm Long

The private sector, particularly startup in circular economy, plays an absolutely crucial role in economic growth, Resident Representative at Hanns Seidel Foundation  (HSF) Michael Siegner.

Startups with sustainable and circular business models not only tackle environmental challenges but also become key drivers of innovation and economic growth in Vietnam, according to Mr.  Michael Siegner, Resident Representative at Hanns Seidel Foundation (HSF).

"The private sector, particularly startup in circular economy, plays an absolutely crucial role in economic growth," Michael Siegner said during a recent interview with the Vietnam Government Portal (VGP).

"The government can set the framework for economic development, but in the end, it's up to the private sector to deliver," he said.

He commended Vietnam for its impressive economic transformation after the COVID-19 pandemic—from crisis management to a focus on sustainable growth. Within the region, Vietnam stands out as a bright spot. Ongoing institutional reforms, such as the simplification of administrative procedures, are expected to create a more favorable environment for innovation.

Mr. Siegner also praised the Vietnamese government's efforts to support the private sector, including the current initiative to cut 30 per cent of administrative procedures. These actions contribute to a more enabling environment for innovation and creativity, alongside the introduction of key policy frameworks such as the Law on Environmental Protection, the National Action Plan on Circular Economy, and the National Strategy on Sustainable Consumption for the 2021–2030 period.

From a geopolitical perspective, Mr. Siegner acknowledged Vietnam's strong capacity to regulate and adapt amid global uncertainties. However, he noted that to achieve long-term sustainable development, Vietnam must strike a balance between profitability and sustainability. This includes building resilient supply chains, fostering a creative workforce, and supporting business models that generate long-term employment.

Connectivity for growth

Startups in Vietnam, particularly those in the circular economy sector, are currently facing common challenges such as lack of funding, limited management skills, and difficulties accessing the global innovation ecosystem.

Therefore, HSF is committed to supporting Vietnamese startups in connecting with innovation hubs in Singapore and encouraging large domestic enterprises to recognize the potential for collaboration with startups towards sustainable development.

"We provide capacity building and training for them, and also connect them with each other so they can learn and scale their models," Mr. Siegner added.

 

Currently, HSF primarily supports innovation- and sustainability-oriented startups through training, capacity building, and networking. One of its key initiatives is the ClimateLaunchpad program, initiated by the EU and co-organized by HSF in Vietnam since 2020. Over the past five years, ClimateLaunchpad has attracted and trained nearly 100 startups from 12 provinces and cities across Vietnam.

Two outstanding startups — Alterno, a company developing sand-based batteries, and AirX Carbon, which produces eco-friendly pallets — showcased their progress at the Partnership for Growth (P4G) Summit in Vietnam on April 17. Both emerged as winners from past ClimateLaunchpad competitions, underlining the initiative's ability to surface and support transformative business ideas. They have huge potential not only for sustainability but also for integrating into existing value chains," Mr. Siegner noted.

"Our real contribution is creating a platform where startups from Vietnam can connect with peers in Singapore, Malaysia, Indonesia, or even across continents like in Tunisia or other African countries," he added.

By building this cross-border network, HSF enables knowledge-sharing and potential collaborations between startups facing similar sustainability challenges but operating in diverse contexts. This global connectivity, Mr. Siegner emphasized, is key to scaling solutions and adapting innovations to environment.

In the future, as HSF continues to nurture connections across ASEAN and beyond, its mission reflects a broader ambition: to support the private sector in driving the shift toward a circular and sustainable economy. Through its ongoing programs and partnerships, the foundation aims not only to help startups survive but also to thrive and multiply their impact globally.

In addition, HSF will continue to expand its existing network. At the same time, the Foundation will promote connections between successful startups and large enterprises to create broader social impact, aiming toward sustainable development.

The head of HSF sent a message to the Vietnamese startup community: "Initial business failures are completely normal. Stay persistent and learn from your setbacks. Passion and perseverance are key factors for long-term success".

-

Shrimp export is the key growth driver, contributing $1.3 billion.

Seafood export revenue in the first four months of the year is estimated to reach $3.45 billion, soaring 28% compared to the same period last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

In April alone, seafood export turnover skyrocketed 30% year-on-year, amounting to $1 billion.

Among key products, shrimp export gained high growth with a turnover of $350 million in April, bringing the total shrimp export value to nearly $1.3 billion in the four-month period, up 35% year-on-year.

In the first quarter of the year, shrimp export earned $939 million, surging 37% year-on-year.

The shrimp export growth is attributed to the recovery of many key markets, including the US, China and Japan.

Shrimp export is forecast to continue increasing in the second quarter of the year. Total export turnover of shrimp for the whole year is predicted to hit $4 billion.

 

-Chu Khôi

Vietnam Economic Times Issue 402+403 | Monday, April 28 - May 5, 2025 .container-xxl, .detail__content {/*max-width: 100% !important;*/} .detail__content iframe[data-name="animatecc"] { width: 100% !important; overflow: hidden; position: relative; /*z-index: 99999;*/ max-height: 100vh; } .align-center-image { width: 1290px; max-width: 1320px; margin-left: -50% !important; } @media screen and (max-width: 720px) { .align-center-image { width: 100% !important; max-width: 100%; margin: 0 !important; } .detail__content iframe[data-name="animatecc"] { height: 100vh; } }

-Vietnam Economic Times - VnEconomy

New regulations cover statistical classification by economic sectors, foreign investors' purchase of shares of Vietnamese credit institutions, and petroleum trading.

- Circular 07/2025/TT-BKHDT (Circular 07), issued by the Ministry of Planning and Investment (now the Ministry of Finance) on February 13, 2025,  providing regulations on statistical classification according to economic types,  will takes effect from May 1, 2025.

The Circular aims to establish a unified statistical classification system for economic units, serving state statistical activities. This classification helps identify and categorize economic units with similar characteristics into corresponding economic types, providing a basis for accurate and efficient collection, analysis, and reporting of economic data.

The statistical classification system by economic type is divided into two levels:

+ Level 1 comprises four economic types namely State-owned economy, collective economy, private economy and FDI economy.

+ Level 2 consists of 17 economic types, each coded with two digits corresponding to Level 1.

- Circular 18/2025/TT-BCT issued by the Ministry of Industry and Trade on March 13, 2025, which supplements regulations on the mechanism for managing gasoline prices, will take effect from May 2, 2025.

Based on data on factors that make up gasoline prices in line with regulations and opinions participating in managing gasoline prices of the Ministry of Finance in writing, the Ministry of Industry and Trade announces the basic price and the selling price of gasoline.

In case necessary, in order to ensure the supply of gasoline for the domestic market, the Ministry of Industry and Trade shall specify the progress of importing and purchasing gasoline domestically or adjust the total minimum gasoline source for traders to implement.

Petroleum traders, petroleum distributors with petroleum warehouses owned by other petroleum traders for lease are responsible for reporting quarterly on the situation of warehouse use and lease according to the issued form to the Ministry of Industry and Trade and the Department of Industry and Trade at the warehouse lenders before the 10th of the first month of the following period.

- Under Decree No. 69/2025/ND-CP, amending several provisions of Decree No. 01/2014/ND-CP regarding foreign investment in Vietnamese financial institutions, foreign investors could only buy treasury stocks which were purchased by credit institutions before January 1, 2021.

Total foreign ownership in Vietnamese commercial banks is capped at 30 per cent, with some exceptions, while that in non-bank credit institutions is no more than 50 per cent.

In special cases involving weak or troubled financial institutions, the Prime Minister is in charge of deciding on ownership percentage of a foreign organization or a strategic foreign investor.

The new decree also paves the way for foreign ownership in commercial banks undergoing mandatory transfers to exceed 30 per cent but not surpass 49 per cent of charter capital, provided the bank is not majority state-owned.

If foreign investors surpass the regulated thresholds, they must reduce their ownership percentage within six months to comply with the limits.

The decree will come into effect on May 19.

-Phạm Long

At the national celebration of the 50th anniversary of the liberation of the South and national reunification held in Ho Chi Minh City on April 30 morning, General Secretary of the Central Committee of the Communist Party of Vietnam (CPV) To Lam delivered an address.

Following is the main content of the address through the translation by the Vietnam News Agency:

Today, in the heroic atmosphere of the historic April 30, in the heroic city named after beloved President Ho Chi Minh, with great excitement and pride, the Central Committee of the Communist Party of Vietnam, the National Assembly, the State President, the Government of the Socialist Republic of Vietnam, the Central Committee of the Vietnam Fatherland Front solemnly organise a ceremony to celebrate the "50th anniversary of the liberation of the South and national reunification" - the most brilliant milestone in the history of building and defending the country; marking the glorious end of the 30-year resilient struggle for independence, freedom, and reunification of the Fatherland; putting an end to the more-than-a-century domination of old and new colonialism; and bringing the country into a new era - the era of national independence and socialism.

On behalf of leaders of the Party, the State and the Vietnam Fatherland Front Central Committee, I warmly welcome and would like to extend my respectful greetings, warm regards, and best wishes to leaders, former leaders of the Party, the State, and the Vietnam Fatherland Front, revolutionary veterans, Heroic Vietnamese Mothers, Heroes of the People's Armed Forces, and Heroes of Labour; generals, officers, soldiers, veterans, militiamen, guerrillas, youth volunteers, frontline workers, families with meritorious service to the country, international guests, all compatriots and comrades nationwide, overseas Vietnamese, and the Party Organisation, administration, and people of Ho Chi Minh City.

In this sacred moment, we respectfully remember and express our boundless gratitude for the great contributions of beloved President Ho Chi Minh - the genius Leader of our Party and nation, the great teacher of the Vietnamese revolution, a hero of national liberation, a great man of culture, an outstanding soldier of the international communist and workers' movements - with the burning desire to liberate the South and reunify the nation, with the faith in victory that "No matter how difficult or arduous, our people will definitely win. Our Fatherland will definitely be reunified. Compatriots of the North and the South will definitely be reunited under one roof".

Party General Secretary To Lam (front row, 6th from right) and other leaders and former leaders of the Party and State, and foreign distinguished guests at the national celebration of the 50th anniversary of the liberation of the South and national reunification. (Photo: VGP)

We will forever remember and be grateful for the great contributions of revolutionary leaders, martyrs, Heroic Vietnamese Mothers, Heroes of the People's Armed Forces, generations of cadres, generals, officers, soldiers, militiamen, guerrillas, youth volunteers, frontline workers, wounded and sick soldiers, families of martyrs, families with meritorious service to the revolution, veterans, and the entire people's armed forces and people across the country as well as overseas Vietnamese, who devoted and sacrificed their lives for the cause of completely liberating the South and reunifying the country.

We sincerely thank our brothers, comrades and international friends, progressive forces and peace-loving people around the world for their great, valuable, wholehearted, loyal, and steadfast support and assistance to the Vietnamese people's cause of national liberation and reunification.

Immediately after the success of the August Revolution in 1945 and the birth of the Democratic Republic of Vietnam, our people had to enter two long resistance wars to protect the country's independence and unification. The resistance war against the French colonialists ended, and like many nations around the world, the Vietnamese people wished for a peaceful, independent and free life. However, the US imperialists quickly replaced the French colonialists, intervening in Vietnam, carrying out the plot to divide our country, and turning the South of our country into a new type of colony and an outpost to prevent communism in Southeast Asia and other progressive forces in the world. During the war of aggression against Vietnam, the US imperialists deployed a large number of soldiers with the most modern and sophisticated weapons, implemented many dangerous war strategies; carried out two brutal destructive wars against the North, causing a lot of pains and losses to the people in both regions of the country; and the consequences of the war still linger today.

In the face of countless difficulties, challenges, hardships and fierceness, we inherited and promoted our ancestors' glorious tradition in fighting against foreign invaders, summarised valuable lessons in the prolonged resistance war against the French colonialists, with the mettle and clear-sighted brainpower, and by harnessing the strength of the people and the great national unity bloc, while maximising the support and assistance of international friends, progressive forces and peace-loving people in the world. Our Party and President Ho Chi Minh led our army and people to simultaneously carry out two strategic tasks: The socialist revolution in the North and the people's national democratic revolution in the South, resolutely driving away the invaders.

At the national celebration of the 50th anniversary of the liberation of the South and national reunification held in Ho Chi Minh City on April 30 morning (Source:VNA)

With a burning desire to safeguard national independence and reunification, and with the spirit of "Nothing is more precious than independence and freedom", the entire Vietnamese people, from Nam Quan Pass to Ca Mau Cape, united to repel the invaders and everywhere marked the bravery, sacrifices and glorious feats of our army and people. With the iron will to “liberate the South, we are determined to move forward", our army and people secured successive victories, dismantled the enemy step by step, and moved towards complete victory with the climax being the historic Ho Chi Minh Campaign, reuniting the country.

Time will pass, but the victory of our people in the resistance war against the US for national salvation will forever be recorded in the nation’s history as a shining symbol of revolutionary heroism, a victory of justice, a victory of Vietnamese mettle, spirit and intelligence; a victory of ardent patriotism and the aspiration for independence, freedom and national reunification, with the truth “Vietnam is one, the Vietnamese people are one”, a milestone affirming that our entire Party, people and army had realised the most earnest wishes and instructions of Uncle Ho, completing the cause of completely liberating the South, reunifying the country, and bringing the North and the South together as one family.

The victory of the resistance war against the US for national salvation stemmed from the correct and creative leadership of the Party; from the people’s war policy, carried out through the strength of great national unity and international solidarity; from the combination of military, political and, diplomatic struggles and the art of seizing the right moment to concentrate forces for a general offensive and uprising; from the strength of the great rear base in the North supporting the major frontlines in the South, with the spirit: No a grain of rice is lacking, no soldier is absent; cutting through Truong Son to save the nation; from the great, righteous, sincere and effective support and assistance of the Soviet Union, China and fraternal socialist countries; from the Vietnam - Laos - Cambodia special solidarity; from peace-loving, progressive people and forces worldwide, including the progressive Americans. In particular, the Great Spring 1975 Victory strongly encouraged the national liberation movement of the world's people for peace, national independence, democracy, and social progress, opening the way for the collapse of neo-colonialism all over the world and marking a pivotal turning point in human history in the 20th century.

Along with its epochal significance, the Great Spring 1975 Victory left behind valuable lessons in both theory and practice for the revolutionary cause of our Party and nation. These are (1) The lesson of promoting the strength of the people and the great national unity bloc, skillfully combining national strength with the strength of the times; (2) The lesson of promoting to the highest degree the spirit of patriotism, national pride and self-esteem; the spirit of independence, self-reliance, bravery and resilience; the determination to fight and win of our entire Party, people and army; (3) The lesson of holding high the banner of national independence and socialism, determining the correct path, suitable to the conditions and characteristics of the Vietnamese revolution; (4) The lesson of creatively applying and developing revolutionary struggle methods and methods of carrying out all-people and all-out war; developing unique and creative theories of people's war and military art; “using the few to fight the many”, “using benevolence to replace violence” (5) The lesson of firmly grasping, seizing opportunities and attacking rapidly, boldly, proactively, sensitively, flexibly, creatively and resolutely to carry out the 1975 Spring General Offensive and Uprising to achieve complete victory. (6) The lesson of benevolence, national reconciliation, putting the past behind and looking to the future after victory. (7) But the greatest lesson, at the same time, the leading factor deciding the victory of the 1975 Spring Great Victory was to maintain the absolute leadership of the Party; to build a strong Party in all aspects; to enhance the leadership capacity and combat strength of the Party throughout the process of fighting for national liberation, national reunification and protecting the achievements of socialism.

Upholding the valuable lessons from the victory of the resistance war against the US for national salvation, under the leadership of the Party, our entire people and army joined forces to recover, rebuild, construct and develop the country in accordance with Uncle Ho’s final wishes: “My ultimate desire is that our entire Party and people to unite and strive to build a peaceful, unified, independent, democratic, and prosperous Vietnam, and make worthy contributions to the world revolutionary cause.” After 50 years of national reunification and nearly 40 years of implementing the Doi moi (renewal) policy, our country have overcome numerous difficulties and challenges to achieve monumental accomplishments of historical significance, creating the foundation, potential, position and international prestige as today. From a poor, backward nation devastated by the war and subjected to blockade and embargo, Vietnam has transformed into a developing country with near upper-middle income status, deeply integrated into the world politics, global economy, and human civilisation, taking on many international responsibilities and playing an active and positive role in various international organisations and important multilateral forums. The country's independence, sovereignty, unity, and territorial integrity have been firmly maintained while national interests have been secured. The size of the economy in 2024 ranked 32nd in the world and stood among the top 20 economies in terms of trade and foreign investment attraction. The people’s living standards have significantly improved, with the poverty rate sharply declining to just 1.93% (according to multidimensional standards) compared to more than 60% in 1986. Economic, political, cultural, social, scientific-technological, national defence and security potential has been increasingly consolidated. Foreign relations have been expanded while the country’s position and prestige have been constantly enhanced. To date, Vietnam has established diplomatic ties with 194 countries which are members of the United Nations, and built cooperative relations, strategic partnerships, and comprehensive strategic partnerships with all major powers in the world, including the US, with 2025 marking the 30th founding anniversary of Vietnam-US diplomatic relations.

Half a century has passed and with the obtained great achievements, we are now standing at a new historical starting point to help the country to rise up, take off, and “stand shoulder to shoulder with powers across the five continents.” To realise the aspiration to build a Vietnam “ten times better than today,” we must liberate all productive forces, unleash all resources, and leverage all potential and strengths to strongly promote socio-economic development. In 2025, we strive to achieve economic growth of at least 8% and double-digit growth in the 2026-2030 period, are determined to successfully implement the strategic goals of becoming a developing country with upper-middle-income and modern industry by 2030 and a developed, socialist-oriented nation with high income by 2045. The focus must be placed on resolving institutional development bottlenecks; adjusting the economic space, expanding the development space, increasing decentralisation and delegation of authority, allocating and combining economic resources; establishing a new growth model, with science-technology, innovation, and digital transformation as the main driving forces, to create dramatic transformations in productivity, quality, efficiency, and competitiveness of the economy, identifying the private sector as the most important driving force of the national economy. Besides, we must continue making breakthroughs in mindset and methods to create new productivity, new productive forces, and new quality.

Being proud of the nation's glorious historical traditions, with infinite gratitude for the great contributions and sacrifice of soldiers and compatriots across the country, we are increasingly aware of our responsibility to fulfill Uncle Ho's final instructions before he passed away: "The Party must have a good plan to develop the economy and culture, aiming to continuously improve the people's lives." Caring for the people and increasingly meeting their material and spiritual needs, especially for those in remote areas, border regions, islands, revolutionary base areas, and former resistance zones, have been the Party's goals. We must focus on effectively implementing the policies of fairness, social progress, social security and social welfare as well as those for people who rendered service to the nation; implement the tuition exemption policy for all levels of general education; strive to complete the programme on eliminating temporary and dilapidated houses, accelerate the construction of social housing for low-income earners; and pay due attention to healthcare development and public health care, moving towards exempting hospital fees so that every Vietnamese citizen could truly have a secure, safe, free, prosperous and happy life.

Deeply aware of the incomparable great strength of the people and the great national solidarity bloc of Vietnam, we thoroughly grasp and consistently implement the viewpoint that "people are the root", people are the centre, the subject, the purpose of the process of national construction, development and protection. It is necessary to strongly implement the policy of national harmony and reconciliation with the spirit that we all have the blood of Lac Hong, are all brothers and sisters, "like trees of the same root, like children of the same family". All Vietnamese people are citizens of Vietnam, all have the right to live, work, the right to freely pursue happiness and love in the homeland, all have the right and responsibility to contribute to building the Fatherland. With the policy of closing the past, respecting differences, looking towards the future, our entire Party, people and army together strive to build a peaceful, unified, happy, prosperous and developed Vietnam.

As a nation that experienced countless pains and losses due to the wars in the past and also a nation that has enjoyed great benefits from peace and friendly cooperation in recent decades, Vietnam earnestly desires to work with the international community to build a future of peace, prosperity, solidarity and development. Let us do all we can today, with the desire to leave to future generations not only a better world, but also the faith and admiration for the sense of responsibility and wisdom of today's generation. We will continue to deepen our friendly and cooperative relations with countries around the world; promote the implementation of the motto "Vietnam is a friend, a reliable partner and an active, responsible member of the international community"; innovate mechanisms and policies, create all favourable conditions for international friends and the Vietnamese community abroad, those who carry Vietnamese cultural identity, have grown up in developed countries, have expertise and management skills, and have extensive international connections, to participate in activities to promote socio-economic development in Vietnam. The 50th anniversary of the liberation of the South and national reunification is also a historic moment for all Vietnamese people, all classes of people, compatriots of all ethnic groups and religions, Party members and all people at home and overseas Vietnamese, millions of people as one, to unite, join hands, and turn towards the Fatherland for the goal of building a strong, prosperous, civilised and happy Vietnam.

In the context of the complicated world situation, as a nation that has suffered many losses and pains due to the wars, deeply understanding the precious values of peace, independence and freedom, we need to continue to strengthen and modernise national defence and security, build all-people national defence for peace and self-defence, firmly safeguard the Fatherland "early", "from afar", and "protect the country when it is not yet in danger". We must build and promote the "people-based position", firmly consolidate the all-people defence position and the people's security position. It is necessary to build the revolutionary, disciplined, elite and modern People's Army and People's Public Security, which are the core forces to firmly protect the Fatherland's independence, sovereignty, unity and territorial integrity, making them the "precious sword" and "shield" to protect the Party, State, people and safeguard the regime, always a solid mainstay for the people.

 

Proud of the glorious Party and the great achievements of our army and people under the Party's leadership, we must strive to build a clean, strong and comprehensive Party so that the Party is truly "moral and civilised", representing the intelligence, honour and conscience of the nation and the era, worthy of the trust, choice and expectations of the people. We must continue to innovate the Party's leadership, governance and combat strength; successfully carry out the revolution in reorganising the apparatus of the political system, reorganising administrative units to make them more streamlined, efficient and effective. We must build and gradually perfect the mechanism of power control, resolutely push back corruption, wastefulness, negative phenomena and bureaucracy; and build a contingent of cadres at all levels, especially strategic cadres and leaders with sufficient qualities, intelligence, dedication and efforts, who dare to think, dare to do, and dare to take responsibility for the interests of the country and the people.

On the occasion of the 50th anniversary of the liberation of the South and national reunification; welcoming International Workers' Day on May 1, the 135th birth anniversary of President Ho Chi Minh, and other important events in 2025, on behalf of the leaders of the Party, the State, and the Vietnam Fatherland Front, I once again sincerely thank all compatriots, comrades, those who have sacrificed themselves for the country; thank the people, peace-loving friends, and progressive forces around the world who have supported and helped the Vietnamese people in the past struggle for national liberation, as well as in the cause of building and defending the Fatherland at present.

Promoting the spirit of the Great 1975 Spring Victory, and the achievements of the four decades of Doi moi (renewal), our entire Party, people, and army are striving with determination to successfully accomplish the five-year socio-economic development plan for the 2021–2025 period, and to achieve further outstanding accomplishments to welcome the upcoming Party Congresses at all levels, in the lead up to the 14th National Party Congress. With the mettle, intelligence, and strength of Vietnam, we secured the historic Great Spring Victory; and we are firmly confident that we will continue to attain even greater victories and remarkable achievements in the new era of prosperity, civilisation, and national rise, building our country that is “more dignified and beautiful", standing shoulder to shoulder with the powers of the five continents, fulfilling the aspirations of President Ho Chi Minh and of the entire nation.

-

At the national celebration of the 50th anniversary of the liberation of the South and national reunification held in Ho Chi Minh City on April 30 morning, General Secretary of the Central Committee of the Communist Party of Vietnam (CPV) To Lam delivered an address.

Following is the main content of the address through the translation by the Vietnam News Agency:

Today, in the heroic atmosphere of the historic April 30, in the heroic city named after beloved President Ho Chi Minh, with great excitement and pride, the Central Committee of the Communist Party of Vietnam, the National Assembly, the State President, the Government of the Socialist Republic of Vietnam, the Central Committee of the Vietnam Fatherland Front solemnly organise a ceremony to celebrate the "50th anniversary of the liberation of the South and national reunification" - the most brilliant milestone in the history of building and defending the country; marking the glorious end of the 30-year resilient struggle for independence, freedom, and reunification of the Fatherland; putting an end to the more-than-a-century domination of old and new colonialism; and bringing the country into a new era - the era of national independence and socialism.

On behalf of leaders of the Party, the State and the Vietnam Fatherland Front Central Committee, I warmly welcome and would like to extend my respectful greetings, warm regards, and best wishes to leaders, former leaders of the Party, the State, and the Vietnam Fatherland Front, revolutionary veterans, Heroic Vietnamese Mothers, Heroes of the People's Armed Forces, and Heroes of Labour; generals, officers, soldiers, veterans, militiamen, guerrillas, youth volunteers, frontline workers, families with meritorious service to the country, international guests, all compatriots and comrades nationwide, overseas Vietnamese, and the Party Organisation, administration, and people of Ho Chi Minh City.

In this sacred moment, we respectfully remember and express our boundless gratitude for the great contributions of beloved President Ho Chi Minh - the genius Leader of our Party and nation, the great teacher of the Vietnamese revolution, a hero of national liberation, a great man of culture, an outstanding soldier of the international communist and workers' movements - with the burning desire to liberate the South and reunify the nation, with the faith in victory that "No matter how difficult or arduous, our people will definitely win. Our Fatherland will definitely be reunified. Compatriots of the North and the South will definitely be reunited under one roof".

Party General Secretary To Lam (front row, 6th from right) and other leaders and former leaders of the Party and State, and foreign distinguished guests at the national celebration of the 50th anniversary of the liberation of the South and national reunification. (Photo: VGP)

We will forever remember and be grateful for the great contributions of revolutionary leaders, martyrs, Heroic Vietnamese Mothers, Heroes of the People's Armed Forces, generations of cadres, generals, officers, soldiers, militiamen, guerrillas, youth volunteers, frontline workers, wounded and sick soldiers, families of martyrs, families with meritorious service to the revolution, veterans, and the entire people's armed forces and people across the country as well as overseas Vietnamese, who devoted and sacrificed their lives for the cause of completely liberating the South and reunifying the country.

We sincerely thank our brothers, comrades and international friends, progressive forces and peace-loving people around the world for their great, valuable, wholehearted, loyal, and steadfast support and assistance to the Vietnamese people's cause of national liberation and reunification.

Immediately after the success of the August Revolution in 1945 and the birth of the Democratic Republic of Vietnam, our people had to enter two long resistance wars to protect the country's independence and unification. The resistance war against the French colonialists ended, and like many nations around the world, the Vietnamese people wished for a peaceful, independent and free life. However, the US imperialists quickly replaced the French colonialists, intervening in Vietnam, carrying out the plot to divide our country, and turning the South of our country into a new type of colony and an outpost to prevent communism in Southeast Asia and other progressive forces in the world. During the war of aggression against Vietnam, the US imperialists deployed a large number of soldiers with the most modern and sophisticated weapons, implemented many dangerous war strategies; carried out two brutal destructive wars against the North, causing a lot of pains and losses to the people in both regions of the country; and the consequences of the war still linger today.

In the face of countless difficulties, challenges, hardships and fierceness, we inherited and promoted our ancestors' glorious tradition in fighting against foreign invaders, summarised valuable lessons in the prolonged resistance war against the French colonialists, with the mettle and clear-sighted brainpower, and by harnessing the strength of the people and the great national unity bloc, while maximising the support and assistance of international friends, progressive forces and peace-loving people in the world. Our Party and President Ho Chi Minh led our army and people to simultaneously carry out two strategic tasks: The socialist revolution in the North and the people's national democratic revolution in the South, resolutely driving away the invaders.

At the national celebration of the 50th anniversary of the liberation of the South and national reunification held in Ho Chi Minh City on April 30 morning (Source:VNA)

With a burning desire to safeguard national independence and reunification, and with the spirit of "Nothing is more precious than independence and freedom", the entire Vietnamese people, from Nam Quan Pass to Ca Mau Cape, united to repel the invaders and everywhere marked the bravery, sacrifices and glorious feats of our army and people. With the iron will to “liberate the South, we are determined to move forward", our army and people secured successive victories, dismantled the enemy step by step, and moved towards complete victory with the climax being the historic Ho Chi Minh Campaign, reuniting the country.

Time will pass, but the victory of our people in the resistance war against the US for national salvation will forever be recorded in the nation’s history as a shining symbol of revolutionary heroism, a victory of justice, a victory of Vietnamese mettle, spirit and intelligence; a victory of ardent patriotism and the aspiration for independence, freedom and national reunification, with the truth “Vietnam is one, the Vietnamese people are one”, a milestone affirming that our entire Party, people and army had realised the most earnest wishes and instructions of Uncle Ho, completing the cause of completely liberating the South, reunifying the country, and bringing the North and the South together as one family.

The victory of the resistance war against the US for national salvation stemmed from the correct and creative leadership of the Party; from the people’s war policy, carried out through the strength of great national unity and international solidarity; from the combination of military, political and, diplomatic struggles and the art of seizing the right moment to concentrate forces for a general offensive and uprising; from the strength of the great rear base in the North supporting the major frontlines in the South, with the spirit: No a grain of rice is lacking, no soldier is absent; cutting through Truong Son to save the nation; from the great, righteous, sincere and effective support and assistance of the Soviet Union, China and fraternal socialist countries; from the Vietnam - Laos - Cambodia special solidarity; from peace-loving, progressive people and forces worldwide, including the progressive Americans. In particular, the Great Spring 1975 Victory strongly encouraged the national liberation movement of the world's people for peace, national independence, democracy, and social progress, opening the way for the collapse of neo-colonialism all over the world and marking a pivotal turning point in human history in the 20th century.

Along with its epochal significance, the Great Spring 1975 Victory left behind valuable lessons in both theory and practice for the revolutionary cause of our Party and nation. These are (1) The lesson of promoting the strength of the people and the great national unity bloc, skillfully combining national strength with the strength of the times; (2) The lesson of promoting to the highest degree the spirit of patriotism, national pride and self-esteem; the spirit of independence, self-reliance, bravery and resilience; the determination to fight and win of our entire Party, people and army; (3) The lesson of holding high the banner of national independence and socialism, determining the correct path, suitable to the conditions and characteristics of the Vietnamese revolution; (4) The lesson of creatively applying and developing revolutionary struggle methods and methods of carrying out all-people and all-out war; developing unique and creative theories of people's war and military art; “using the few to fight the many”, “using benevolence to replace violence” (5) The lesson of firmly grasping, seizing opportunities and attacking rapidly, boldly, proactively, sensitively, flexibly, creatively and resolutely to carry out the 1975 Spring General Offensive and Uprising to achieve complete victory. (6) The lesson of benevolence, national reconciliation, putting the past behind and looking to the future after victory. (7) But the greatest lesson, at the same time, the leading factor deciding the victory of the 1975 Spring Great Victory was to maintain the absolute leadership of the Party; to build a strong Party in all aspects; to enhance the leadership capacity and combat strength of the Party throughout the process of fighting for national liberation, national reunification and protecting the achievements of socialism.

Upholding the valuable lessons from the victory of the resistance war against the US for national salvation, under the leadership of the Party, our entire people and army joined forces to recover, rebuild, construct and develop the country in accordance with Uncle Ho’s final wishes: “My ultimate desire is that our entire Party and people to unite and strive to build a peaceful, unified, independent, democratic, and prosperous Vietnam, and make worthy contributions to the world revolutionary cause.” After 50 years of national reunification and nearly 40 years of implementing the Doi moi (renewal) policy, our country have overcome numerous difficulties and challenges to achieve monumental accomplishments of historical significance, creating the foundation, potential, position and international prestige as today. From a poor, backward nation devastated by the war and subjected to blockade and embargo, Vietnam has transformed into a developing country with near upper-middle income status, deeply integrated into the world politics, global economy, and human civilisation, taking on many international responsibilities and playing an active and positive role in various international organisations and important multilateral forums. The country's independence, sovereignty, unity, and territorial integrity have been firmly maintained while national interests have been secured. The size of the economy in 2024 ranked 32nd in the world and stood among the top 20 economies in terms of trade and foreign investment attraction. The people’s living standards have significantly improved, with the poverty rate sharply declining to just 1.93% (according to multidimensional standards) compared to more than 60% in 1986. Economic, political, cultural, social, scientific-technological, national defence and security potential has been increasingly consolidated. Foreign relations have been expanded while the country’s position and prestige have been constantly enhanced. To date, Vietnam has established diplomatic ties with 194 countries which are members of the United Nations, and built cooperative relations, strategic partnerships, and comprehensive strategic partnerships with all major powers in the world, including the US, with 2025 marking the 30th founding anniversary of Vietnam-US diplomatic relations.

Half a century has passed and with the obtained great achievements, we are now standing at a new historical starting point to help the country to rise up, take off, and “stand shoulder to shoulder with powers across the five continents.” To realise the aspiration to build a Vietnam “ten times better than today,” we must liberate all productive forces, unleash all resources, and leverage all potential and strengths to strongly promote socio-economic development. In 2025, we strive to achieve economic growth of at least 8% and double-digit growth in the 2026-2030 period, are determined to successfully implement the strategic goals of becoming a developing country with upper-middle-income and modern industry by 2030 and a developed, socialist-oriented nation with high income by 2045. The focus must be placed on resolving institutional development bottlenecks; adjusting the economic space, expanding the development space, increasing decentralisation and delegation of authority, allocating and combining economic resources; establishing a new growth model, with science-technology, innovation, and digital transformation as the main driving forces, to create dramatic transformations in productivity, quality, efficiency, and competitiveness of the economy, identifying the private sector as the most important driving force of the national economy. Besides, we must continue making breakthroughs in mindset and methods to create new productivity, new productive forces, and new quality.

Being proud of the nation's glorious historical traditions, with infinite gratitude for the great contributions and sacrifice of soldiers and compatriots across the country, we are increasingly aware of our responsibility to fulfill Uncle Ho's final instructions before he passed away: "The Party must have a good plan to develop the economy and culture, aiming to continuously improve the people's lives." Caring for the people and increasingly meeting their material and spiritual needs, especially for those in remote areas, border regions, islands, revolutionary base areas, and former resistance zones, have been the Party's goals. We must focus on effectively implementing the policies of fairness, social progress, social security and social welfare as well as those for people who rendered service to the nation; implement the tuition exemption policy for all levels of general education; strive to complete the programme on eliminating temporary and dilapidated houses, accelerate the construction of social housing for low-income earners; and pay due attention to healthcare development and public health care, moving towards exempting hospital fees so that every Vietnamese citizen could truly have a secure, safe, free, prosperous and happy life.

Deeply aware of the incomparable great strength of the people and the great national solidarity bloc of Vietnam, we thoroughly grasp and consistently implement the viewpoint that "people are the root", people are the centre, the subject, the purpose of the process of national construction, development and protection. It is necessary to strongly implement the policy of national harmony and reconciliation with the spirit that we all have the blood of Lac Hong, are all brothers and sisters, "like trees of the same root, like children of the same family". All Vietnamese people are citizens of Vietnam, all have the right to live, work, the right to freely pursue happiness and love in the homeland, all have the right and responsibility to contribute to building the Fatherland. With the policy of closing the past, respecting differences, looking towards the future, our entire Party, people and army together strive to build a peaceful, unified, happy, prosperous and developed Vietnam.

As a nation that experienced countless pains and losses due to the wars in the past and also a nation that has enjoyed great benefits from peace and friendly cooperation in recent decades, Vietnam earnestly desires to work with the international community to build a future of peace, prosperity, solidarity and development. Let us do all we can today, with the desire to leave to future generations not only a better world, but also the faith and admiration for the sense of responsibility and wisdom of today's generation. We will continue to deepen our friendly and cooperative relations with countries around the world; promote the implementation of the motto "Vietnam is a friend, a reliable partner and an active, responsible member of the international community"; innovate mechanisms and policies, create all favourable conditions for international friends and the Vietnamese community abroad, those who carry Vietnamese cultural identity, have grown up in developed countries, have expertise and management skills, and have extensive international connections, to participate in activities to promote socio-economic development in Vietnam. The 50th anniversary of the liberation of the South and national reunification is also a historic moment for all Vietnamese people, all classes of people, compatriots of all ethnic groups and religions, Party members and all people at home and overseas Vietnamese, millions of people as one, to unite, join hands, and turn towards the Fatherland for the goal of building a strong, prosperous, civilised and happy Vietnam.

In the context of the complicated world situation, as a nation that has suffered many losses and pains due to the wars, deeply understanding the precious values of peace, independence and freedom, we need to continue to strengthen and modernise national defence and security, build all-people national defence for peace and self-defence, firmly safeguard the Fatherland "early", "from afar", and "protect the country when it is not yet in danger". We must build and promote the "people-based position", firmly consolidate the all-people defence position and the people's security position. It is necessary to build the revolutionary, disciplined, elite and modern People's Army and People's Public Security, which are the core forces to firmly protect the Fatherland's independence, sovereignty, unity and territorial integrity, making them the "precious sword" and "shield" to protect the Party, State, people and safeguard the regime, always a solid mainstay for the people.

 

Proud of the glorious Party and the great achievements of our army and people under the Party's leadership, we must strive to build a clean, strong and comprehensive Party so that the Party is truly "moral and civilised", representing the intelligence, honour and conscience of the nation and the era, worthy of the trust, choice and expectations of the people. We must continue to innovate the Party's leadership, governance and combat strength; successfully carry out the revolution in reorganising the apparatus of the political system, reorganising administrative units to make them more streamlined, efficient and effective. We must build and gradually perfect the mechanism of power control, resolutely push back corruption, wastefulness, negative phenomena and bureaucracy; and build a contingent of cadres at all levels, especially strategic cadres and leaders with sufficient qualities, intelligence, dedication and efforts, who dare to think, dare to do, and dare to take responsibility for the interests of the country and the people.

On the occasion of the 50th anniversary of the liberation of the South and national reunification; welcoming International Workers' Day on May 1, the 135th birth anniversary of President Ho Chi Minh, and other important events in 2025, on behalf of the leaders of the Party, the State, and the Vietnam Fatherland Front, I once again sincerely thank all compatriots, comrades, those who have sacrificed themselves for the country; thank the people, peace-loving friends, and progressive forces around the world who have supported and helped the Vietnamese people in the past struggle for national liberation, as well as in the cause of building and defending the Fatherland at present.

Promoting the spirit of the Great 1975 Spring Victory, and the achievements of the four decades of Doi moi (renewal), our entire Party, people, and army are striving with determination to successfully accomplish the five-year socio-economic development plan for the 2021–2025 period, and to achieve further outstanding accomplishments to welcome the upcoming Party Congresses at all levels, in the lead up to the 14th National Party Congress. With the mettle, intelligence, and strength of Vietnam, we secured the historic Great Spring Victory; and we are firmly confident that we will continue to attain even greater victories and remarkable achievements in the new era of prosperity, civilisation, and national rise, building our country that is “more dignified and beautiful", standing shoulder to shoulder with the powers of the five continents, fulfilling the aspirations of President Ho Chi Minh and of the entire nation.

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Vietnam Economic Times / VnEconomy / Tap chi Kinh te Viet Nam captured key perspectives from regulators, businesses, and economic experts attending the Vietnam Connect Forum 2025, highlighting the need for institutional reforms focused on cutting administrative procedures and adopting tailored policies for different FDI groups.

Mr. Nguyen Anh Tuan, Deputy Director General, Foreign Investment Agency, Ministry of Finance

The FDI sector has become an indispensable part of Vietnam’s economic development over the years.

The country has been effectively implementing a selective investment attraction policy in line with the orientations set out in Resolution No. 50-NQ/TW 2019 from the Politburo on completing policies for foreign investment cooperation by 2030. As a result, we have to date attracted more than $510 billion in investment from 150 countries and territories, with over 42,700 projects currently in operation. Notably, many FDI projects are applying high technology, generating high added value, and contributing to the promotion of technology transfer - one of the key goals of the foreign investment attraction policy.

However, in essence, FDI attraction activities have yet to achieve the desired effectiveness. Several bottlenecks remain, especially in terms of the links between FDI enterprises and domestic businesses. Vietnam is currently facing uneven investment quality, a low proportion of projects in foundational industries such as raw material production, and a technology transfer process that still falls short of expectations.

In this context, in addition to continuing to advance the three strategic breakthroughs of institutional reform, human resources, and infrastructure, I believe a decisive factor is the need to maintain investor confidence and retain foreign investors in Vietnam. We must create a transparent, fair, and highly predictable investment environment that provides a solid foundation for investors to feel secure in expanding their operations.

At the same time, the government is also studying and gradually refining breakthrough policies aimed at promoting new growth models and seeking development drivers in priority sectors such as high technology, the semiconductor industry, and AI.

Retaining investors is not solely the responsibility of the government or the National Assembly, but also that of the FDI business community itself. Vietnam is an attractive destination, but to truly engage and grow sustainably here, FDI enterprises must accompany the country and share a common vision. I hope that foreign investors will genuinely consider Vietnam their second home and work hand-in-hand with domestic businesses towards the shared goal of long-term, sustainable development.

Mr. Bui Khanh Nguyen, Vice President of Public Affairs at Coca-Cola Beverages Vietnam

Over the past three decades, we have witnessed an extraordinary transformation in Vietnam’s business landscape. When we first entered the market, concepts like centralized industrial parks or eco-industrial parks were virtually unheard of. Today, those ideas have taken root and are evolving rapidly, reflecting Vietnam’s dynamic economic progress.

At Coca-Cola, sustainable development is not just a compliance requirement, it’s a core business strategy. We view sustainability as essential to the long-term success of our company and the well-being of the communities we serve.

In many areas, we have proactively taken the lead, even ahead of regulatory frameworks. For instance, with Extended Producer Responsibility (EPR), we have voluntarily adopted responsible practices for many years, well before national mandates were in place. However, in other areas, such as transitioning to renewable energy, legal and regulatory constraints still hinder our ability to move at the pace we aspire to.

This experience has reinforced an important lesson: sustainability cannot be achieved by businesses acting alone. It requires a collaborative ecosystem - an integrated supply chain, shared commitments, and a supportive policy environment. Coca-Cola’s own supply chain in Vietnam involves more than 20,000 partners, ranging from raw material suppliers and packaging companies to transport providers and recycling initiatives.

To unlock greater impact, we believe Vietnam would benefit from a unified roadmap for sustainable development. A shared national framework would enable businesses like ours to align more effectively with government priorities and direct our resources where they matter most. Currently, we are acting based on what we think is needed, but clarity from a common strategy would empower us to contribute more decisively.

Coca-Cola is ready and willing to walk alongside Vietnam on its journey towards a sustainable future. We see this country not only as a market but as our home, and we are committed to growing together, responsibly and sustainably.

Mr. Seck Yee Chung, Vice President, Singapore Chamber of Commerce in Vietnam (SingCham Vietnam)

I greatly appreciate Vietnam’s ongoing efforts to attract investment in the manufacturing sector while progressively enhancing its value chains, improving infrastructure, and developing its human resources. Additionally, the signing of free trade agreements (FTAs) and various bilateral and multilateral trade accords has further increased the country’s appeal to foreign businesses.

However, to continue improving the investment environment and strengthening competitiveness, Vietnam needs to further refine its legal framework, including regulations and legislative provisions governing business and investment activities.

Beyond manufacturing, I believe Vietnam holds strong potential to attract FDI in other fast-growing sectors such as healthcare, wellness, finance, tourism, and hospitality. These industries are expanding rapidly and present significant investment demand in the near future.

Despite Vietnam being recognized as a highly-promising investment destination, in practice, many investors still encounter challenges due to cumbersome and non-transparent administrative procedures. To overcome these barriers, it is essential to simplify and clarify approval processes, making them more streamlined and business-friendly.

Therefore, we will continue to closely monitor both domestic and international investment environments and actively collaborate to propose solutions aimed at improving policies, legal frameworks, and administrative procedures. We hope that these obstacles will gradually be removed in the near future, paving the way for foreign enterprises to operate more effectively and sustainably in Vietnam.

Mr. Scott Fritzen, President, Fulbright University Vietnam

Vietnam’s total FDI inflows reached $36 billion in 2024, equivalent to around 10 per cent of the country’s GDP. The FDI sector employs roughly 35 per cent of the national workforce. Despite these impressive results, Vietnam continues to face challenges in establishing meaningful links between FDI enterprises and domestic companies. Currently, only about 18 per cent of local businesses are engaged in global value chains; a figure that has even declined in recent years.

Looking at export growth, the contributions of domestic enterprises remain modest in both formal and informal contexts. The spillover effects from FDI remain limited, primarily due to weaknesses in Vietnam’s private sector. In addition, access to land for business operations is still constrained by complex administrative procedures.

Financial access also presents a significant barrier for small and medium-sized enterprises (SMEs). Though SMEs contribute around 40 per cent of GDP, their access to bank loans only meets about one-third of their investment needs.

The procurement process remains complicated for SMEs, particularly in the public sector. These administrative gaps inadvertently constrain the ability of domestic businesses to scale up.

Notably, Vietnam has long considered FDI a key driver of economic growth, which also makes the economy vulnerable to geopolitical tensions. While Vietnam, along with other nations, is currently exempt from retaliatory tariffs from the US, it is crucial to keep a close watch on shifting dynamics among major global powers. In light of this, Vietnam must strengthen its internal capabilities by advancing both capital and human resources development.

As manufacturing shifts toward high-skill industries such as semiconductors to attract new waves of foreign investment, promoting innovation, improving productivity, and expanding a skilled labor pool are now more important than ever.

Vietnam has a clear advantage in educational attainment, but there remains a critical gap in the availability of high-level specialists. The share of the population holding bachelor’s degrees is still low, at around 10 per cent. Vietnam aims to train 50,000 chip engineers by 2030, yet only around 5,000 have been trained to date. This is a major challenge going forward.

Therefore, Vietnam must significantly invest in education, reform partnership models, and ensure that marginalized groups, including ethnic minorities and those in rural areas, have access to technological development. These efforts are essential in enhancing the overall quality and competitiveness of the national workforce.

Mr. Nguyen Ba Hung, Chief Economist, Asian Development Bank (ADB) in Vietnam

We need to recognize that FDI enterprises in Vietnam are not homogeneous in their objectives or development motivations. As such, policies and support mechanisms must be tailored to the specific needs of different groups. Broadly, these FDI businesses can be categorized into two main groups.

The first comprises export-oriented FDI enterprises. These are foreign investors who come to Vietnam to manufacture primarily for international markets rather than for domestic consumption. Most of these firms operate as part of global supply chains. They capitalize on Vietnam’s advantages, including an abundant, high-quality, and cost-effective workforce, efficient infrastructure, and a broad network of free trade agreements (FTAs) that offer preferential tariffs for exports from Vietnam.

Vietnam can be considered an attractive destination for FDI operating under this model. In fact, the FDI sector currently accounts for about 70 per cent of the country’s total export turnover, indicating its significant operational effectiveness.

However, a major challenge lies in the limited links between FDI firms and domestic enterprises. One key reason is that many foreign corporations have already established global supply chains prior to entering Vietnam, and they tend to maintain these once operating here. For local enterprises to become part of these supply chains, they must meet a range of stringent requirements, from technological capabilities and management practices to new standards such as those regarding environment, social, and governance (ESG).

An increasing number of global supply chains are integrating ESG criteria, and not only the lead firms but also their suppliers are now expected to comply. This trend represents both an opportunity and a significant pressure point for Vietnamese enterprises. To participate, local businesses must be supported to undergo comprehensive upgrades. In this regard, government support programs, collaboration from FDI firms, and proactive efforts from domestic businesses are all critical.

The second group consists of FIEs targeting the domestic market. These investors recognize the potential of Vietnam’s growing consumer base and invest directly to serve local demand. A prime example is the retail sector, which has attracted substantial FDI inflows in recent years.

However, beyond consumer-driven industries, Vietnam has yet to effectively attract FDI into foundational sectors such as infrastructure. This represents a gap that must be addressed in the country’s investment attraction strategy, particularly if Vietnam aims to improve the quality of its growth and enhance its national competitiveness.

-Vietnam Economic Times / VnEconomy

The project spanning 4.9 km in length and 12 m in width, linking Ha Bac 2 bridge and Ring Road 4

After a long period of being delayed and unable to be put into use, the DT.277B provincial road in Bac Ninh province, connecting with Ha Bac 2 bridge in Bac Giang province, has finally been opened to traffic.

The project spanning 4.9 km in length and 12 m in width, linking Ha Bac 2 bridge and Ring Road 4, is part of a broader investment initiative to construct provincial roads DT.295C and DT.285B, which connect Bac Ninh city through industrial parks to the new National Highway 3.

The entire road network spans approximately 20.2 km, with a total investment of nearly VND1.5 trillion ($57.6 million), and was inaugurated by the Prime Minister in July 2023.

This infrastructure project enhances transportation connectivity in the northeastern region, linking Bac Ninh with the national highway system, facilitating smoother access to the Hanoi metropolitan area, Bac Giang, and Thai Nguyen provinces.

Speaking at the ceremony, Mr. Vuong Quoc Tuan, Chairman of the Provincial People's Committee, highlighted the strategic importance of the project, stating: “In recent years, Yen Phong district and Viet Yen town have emerged as dynamic ‘industrial capitals’ of the North, housing large-scale industrial parks and serving as production hubs for leading global corporations such as Samsung, Amkor, Goertek, and Foxconn."

"The completion and commissioning of Ha Bac 2 bridge holds great significance, fostering connectivity in the industrial production chain between the two localities, solidifying their position as a key industrial region with national competitiveness,” he added.

-Phạm Long

The early start of negotiations signals that Vietnam is among a group of countries prioritized by the U.S

A Vietnamese technical delegation is scheduled to visit the US on May 1 to engage in trade discussions and negotiations with relevant U.S. agencies, According to Mr. Do Ngoc Hung, Trade Counselor at the Vietnam Trade Office in the US.

He made the announcement at the monthly trade promotion coordination conference between the Ministry of Industry and Trade and Vietnam’s overseas trade offices on April 28.

According to Mr. Hung, the early start of negotiations signals that Vietnam is among a group of countries prioritized by the US, alongside India, the United Kingdom, Japan, South Korea, and Indonesia. 

“This shows that the US sees Vietnam as an important, serious, and well intentioned partner, and that Vietnam acknowledges the US’s concerns in a substantive manner,” he said.

Prior to temporarily maintaining a 10% import tariff for all nations, the administration of U.S. President Donald Trump had imposed steep reciprocal tariffs on its trading partners, with Vietnam facing a rate of 46%.

On April 23, Vietnamese Minister of Industry and Trade Nguyen Hong Dien, who heads the Vietnamese negotiating delegation, held a phone talks with Mr. Jamieson Greer, Chief Trade Representative of the US, to officially initiate bilateral economic and trade negotiations.

In an official press release, the Office of the United States Trade Representative (USTR) described the phone talks as productive.

Mr. Hung interpreted the move as a sign that the USTR is taking Vietnam’s proposals and negotiation contents seriously.

Trade Counsellor of the Vietnam Trade Office in the US Đo Ngoc Hung (Right). Source: MoIT.

During the conference, Mr. Hung recommended that key Vietnamese agencies like the Ministry of Foreign Affairs and the Ministry of Industry and Trade intensify their efforts to advocate and negotiate for the resolution of retaliatory tariffs. He also urged the implementation of a clear roadmap to protect Vietnam’s trade interests in the face of potential US. tariff actions.

According to recent statistics, Vietnam’s exports to the US reached $31.4 billion in the first quarter of the year, a 22 per cent increase compared to the same period last year. Meanwhile, imports from the US. stood at $4.1 billion, up 21 per cent.

Mr. Hung noted that the trade structure between the two countries is complementary rather than directly competitive, providing U.S. consumers with increasing access to Vietnamese goods that offer improving quality and competitive prices.  For example, the retailer Target, one of the biggest retail chains in the US,  is sourcing some 30 per cent of its goods from Vietnam.

Mr. Hung emphasized that the imposition of reciprocal tariffs by the US adds volatility and risk to global trade while also creating difficulties for the US market itself. 

“Many major US corporations and retail distribution chains have expressed support and confidence that Vietnam will reach a suitable agreement, whether through the removal or adjustment of these tariffs,” Mr. Hung added.

-Viet An

From a 100 sq m showroom to a regional leader, Hoshima International pioneers innovation, automation, and sustainable growth in garment manufacturing.

From a modest 100 sq m space to a 1,500 sq m technology center, Hoshima International has grown over the past two decades into a well-known name in garment automation across Southeast Asia. This transformation has been driven by a team with 25 years of experience, which has helped shape the company's innovative and adaptable approach, laying the foundation for its strong reputation in the industry.

Humble beginnings: Built on service and vision

Founded in 2005, Hoshima International began with a simple mission: to provide high-quality industrial sewing machines to Vietnamese garment factories. Back then, the company operated out of a small showroom, just 100 sq m in size, but even in those early days, it stood out for its commitment to understanding factory needs and delivering reliable, timely service.

As demand grew and the Vietnamese textile industry matured, Hoshima International evolved alongside it. What started as a local business quickly became a regional force. By focusing on customer-centric solutions, the company laid the foundation for long-term growth in an increasingly competitive field.

A decade of expansion and innovation

By the mid-2010s, Hoshima International’s reputation for responsive service and reliable machinery had made it a trusted partner not only in Vietnam but across Southeast Asia. In India, one of the world’s largest garment exporters, Hoshima International began gaining ground in 2018 by offering high-performance automation products tailored to local production needs. By 2022, its cutting-edge solutions also found strong demand in Indonesia, where factories sought more efficient and modernized systems. This steady expansion reflects the company’s ability to earn trust and enter new markets through quality, innovation, and customer-focused service.

Now present in Singapore, Vietnam, India, Pakistan, the Philippines, Indonesia, Cambodia, Turkey, and Italy, Hoshima International is emerging as a regional powerhouse with a global outlook. Its expanded 1,500 sq m RD and operations center in Ho Chi Minh City, unveiled during the Grand Opening Tech Display 2025, is a clear testament to that progress.

“This showroom represents more than growth; it’s our ongoing commitment to empowering factories with automation, innovation, and results,” said Mr. Chong Han Kiong, Founder and Managing Director of Hoshima International.

A technology hub for the future of garment production

The newly expanded facility, located in the Tan Thuan Export Processing Zone in Ho Chi Minh City, is one of the largest private garment automation Group Operation Development Center in Southeast Asia. The space is equipped with state-of-the-art systems and serves as both a demonstration hub for cutting-edge technologies and a live experience center, where factory owners, production managers, and engineers can see real-world applications firsthand.

During the exhibition on April 9–12, 2025, over 1,200 guests from more than 14 countries—including Vietnam, India, Indonesia, Malaysia, Bangladesh, and China gathered to witness the unveiling. Attendees experienced live demos, toured five specialized technology zones, and explored more than 80 automation solutions covering the entire garment production cycle, from cutting and sewing to finishing and packaging. The event also introduced Hoshima International’s expanded capabilities in logistics and warehousing, as well as its latest software solutions, marking a step further in its vision of smart, fully integrated end-to-end garment factories.

Hands-on with innovation: A featured machine draws crowds at the Grand Opening Tech Display 2025

Putting people first: A global team with local insight

Much of Hoshima International’s success can be credited to its dynamic team, which blends global experience with local expertise. With professionals stationed across multiple countries, the company is uniquely positioned to offer tailored support in diverse market contexts.

At Hoshima International, talent development is regarded as a strategic cornerstone of long-term success. The company places strong emphasis on aligning individual strengths with the right roles, an approach that has helped cultivate a globally diverse and agile team. This commitment to people, not just products, continues to drive innovation and collaboration, giving Hoshima International a distinct edge in the evolving garment automation landscape.

This approach has helped build strong relationships across borders, highlighting the company’s belief that technology is important, but it’s the people behind it who make the real difference.

Service beyond sales

At the core of Hoshima International’s long-standing reputation is its dedication to customer support. More than just a supplier, the company views itself as a partner in its clients’ success. Whether it’s offering customer relationship management (CRM)-driven solutions, conducting regular maintenance, or providing startup packages for new customers, Hoshima International continues to set service benchmarks in the automation sector.

One of its newest initiatives is the upcoming Technical Training Academy, which is set to launch in the third quarter of 2025. The academy will provide hands-on training to local engineers and production teams, demonstrating Hoshima International’s commitment to its customers’ success beyond the point of purchase.

 Smart Warehousing Logistics streamline production at the Grand Opening Tech Display 2025

Impacting an entire industry

As garment manufacturers across Asia face increasing pressure to modernize, reduce waste, and improve output, Hoshima International has emerged as a key enabler of digital transformation. Its solutions help bridge the gap between traditional workflows and Industry 4.0-ready systems—making smart factories not just a concept, but a reality.

By prioritizing automation, precision, and flexibility, Hoshima International empowers businesses to respond to shifting market demands and build more resilient, future-proof production models.

“Automation is not about replacing people; it’s about helping people do better work, faster and more accurately,” explained Mr. Chong Han Kiong, Founder and Managing Director of Hoshima International. “We’re here to guide that transition, every step of the way.”

With innovation, partnership, and a clear vision, Hoshima International continues to shape the future of garment manufacturing across Asia.

-Diep Linh

The center is envisioned to become a hub for innovation, green finance, and sustainable investment in the Asia-Pacific region.

The Standing Board of Da Nang city's Party Committee has issued Resolution No. 29 on the development of an International Financial Center in the central city.

Under the resolution, which was dated April 26, 2025, the Da Nang Financial Center is a strategic project serving national interests and the city’s development goals, in line with the Politburo's Resolution No. 43 on devvelopment of Da Nang city by 2030, with a vision towards 2045.

Per Resolution 29, the city aims to establish and operate the Da Nang Financial Center effectively by 2030, attracting strategic partners, financial institutions, support services, legal service providers, and accounting and auditing firms, both domestic and international.

The resolution emphasizes the need to maximize resources from central authorities, the city, and the broader society as a whole. Internal resources are deemed decisive, strategic, fundamental, and long-term, while external resources are considered important and breakthrough factors.

Da Nang is determined to seize every opportunity, leverage its advantages, and fully capitalize on special policies, mechanisms, and orientations issued by the Politburo, the Government, and the National Assembly to ensure the effective development of the financial center.

The center is envisioned to become a hub for innovation, green finance, and sustainable investment in the Asia-Pacific region; a regional center for financing and supporting the development of small and medium-sized enterprises (SMEs) and startups; and a center for digital payment and financial innovation based on advanced technologies.

The Da Nang Financial Center will focus on specialized areas such as green finance, trade finance to support innovative enterprises and SMEs, financial services for non-residents (such as offshore financial services), and cross-border trade activities connected with free trade zones, high-tech parks, and open economic zones.

During the 2025–2030 period, Da Nang will work to attract strategic partners, financial conglomerates, and institutions both at home and abroad to invest in the center.

The city also seeks to promote investment in both hard and soft infrastructure at the financial center, closely linked to Da Nang’s Free Trade Zone and key projects such as the urban railway system and coastal reclamation developments in Da Nang Bay.

-Viet An