Vietnam is studying various measures to promote growth, including the establishment and operation of financial centers.

A roundtable on the building of financial centers in Vietnam was held in Frankfurt on March 24 as part of the working visit to Germany by Permanent Deputy Prime Minister Nguyen Hoa Binh.

The event drew the participation of leaders of several Vietnamese ministries, sectors and localities; representatives from the German Asian-Pacific Business Association and the German federal trade and investment organization, along with leaders of 35 banks, financial funds, investment funds, associations, and companies operating in the international financial sector in Germany.

Addressing the event, Mr. Binh proposed German businesses to support Vietnam in building the financial centers, as well as to recruit high-quality personnel from Vietnam to train on how to operate such centers.

He also called on them to join Vietnam and become the first foreign investors to establish a presence at Vietnam's international financial center.

Vietnam is studying various measures to promote growth, including the establishment and operation of financial centers, creating a favorable, transparent, attractive, and reputable environment for foreign investors, he said.

It is also taking various solutions such as significantly reducing administrative procedures, especially those related to businesses; perfecting the legal system to create a transparent, clear legal framework that meets international standards; and improving infrastructure, including transportation, energy, and digital infrastructure, he added.

-Khánh Vy

Some 82% of small businesses reporting growth in 2024, the highest rate since 2019.

Vietnamese small businesses experienced a successful 2024, with 82 per cent reporting growth, up from 77 per cent in 2023 - the country’s highest result since 2019, according to a report from the Government News, citing a survey from CPA Australia - one of the largest professional accounting bodies in the world.

This momentum is expected to accelerate in 2025, with 92 per cent of small businesses expecting to grow, the highest projection among 11 markets surveyed, according to CPA Australia.

Confidence in Vietnam's economy is equally strong, with 93 per cent of small businesses expecting the economy to grow in 2025, well above the Asia-Pacific survey average of 67 per cent, and again the highest result among all surveyed markets.

CPA Australia's CEO Chris Freeland was quoted by the news as attributing this optimism to Vietnam's young, tech-savvy and entrepreneurial small business community.

Vietnam's small business sector is driven by dynamic and youthful entrepreneurs that embrace technology and innovation. Their ability to adapt quickly and invest in digital solutions is positioning them as regional leaders, Mr. Freeland said.

For example, Vietnam's small businesses rank at or near the top across the Asia-Pacific in all indicators of tech adoption, including e-commerce, social media use, digital payment options and seeking advice from IT specialists, he added.

Easier access to funding has also fueled growth, with 80 per cent of Vietnamese small businesses seeking external finance for growth in 2024, up from 73 per cent in 2023.

Vietnam's small businesses are also becoming more internationally focused. In 2025, 28 per cent anticipate strong improvement in overseas sales, up from 15 per cent in 2024. This signals growing confidence in their ability to compete globally, despite global uncertainty.

Technology-driven investments continue to give strong and quick returns, with 88 per cent of small businesses reporting their investment in technology last year improved their profitability. Notably, AI investment among Vietnam's small businesses doubled in 2024 to 44 per cent from 2023, with nearly half using AI for business advice.

Vietnamese small businesses are increasingly willing to experiment and integrate technologies like AI into their operations, Mr. Freeland said, adding that while most other markets appear to be taking a more cautious approach, Vietnam's small businesses are leading the way in AI investment.

-Phạm Long

The $1.5-million fund aims to support Vietnam in achieving Sustainable Development Goal Target 3.8D.

The Government of Japan has announced a grant of $1.5 million to support Vietnam in achieving Sustainable Development Goal Target 3.8D, according to a report from the Government News.

The funding, financed via the International Organization for Migration (IOM) and the Food and Agriculture Organization of the United Nations (FAO), will strengthen One Health, an integrated, unifying approach that aims to sustainably balance and optimize the health of people, animals and ecosystems.

Recognizing that the health of humans, domestic and wild animals, plants, and the wider environment (including ecosystems) are closely linked and interdependent, the initiative will increase capacity in the border provinces of Ha Giang, Ha Tinh, Dong Thap, and An Giang.

This will allow health threats to be addressed holistically with experts from multiple departments of the Ministry of Health and the Ministry of Agriculture and Environment working together.

The project will raise awareness among cross-border communities about public health risks, case reporting, and self-protection. Approximately two million residents in the four provinces will benefit from outreach events, and capacity building for health and animal health officials, led by IOM.

The health of humans, animals, and ecosystems is interconnected, posing risks for spreading infectious diseases, as highlighted by the recent H5N1 avian influenza outbreaks in Vietnam and Cambodia.

Japanese Ambassador to Vietnam Ito Naoki was quoted by the Government News as saying: "I am proud to launch the holistic collaboration between experts from Japan and Vietnam, along with several UN agencies including IOM, FAO and WHO. I am confident that we have a significant opportunity to promote the health of people in Vietnam, foster multi-sectoral partnerships, and build a healthier future for all."

The project will form a One Health taskforce with representatives from health, animal, plant, border guard, and environment departments, as well as district authorities in each project province, through comprehensive and multi-sectoral assessments.

It will build capacity for 80 One Health taskforce members and 240 health professionals to prepare for and respond to public health emergencies through simulation exercises on human outbreaks of avian influenza and rabies in the four project provinces and accelerate disease detection utilizing portable diagnostic real-time polymerase chain reaction (PCR) machines.

Additionally, the project will strengthen bilateral coordination for public health preparedness and response by facilitating dialogue between Vietnam and neighboring countries, such as Cambodia and Lao PDR, with participation from multi-sectoral actors to discuss outbreak responses and contingency plans along the border.

-Phạm Long

Though rising handily year-on-year, industrial production was down month-on-month in February amid domestic and global market fluctuations.

Data released by the National Statistics Office (under the Ministry of Finance) on March 6 revealed that industrial production is estimated to have decreased by 2.2 per cent in February compared to January but increased 17.2 per cent year-on-year. The Index of Industrial Production (IIP) in the first two months of 2025 is estimated to have grown 7.2 per cent year-on-year, compared to a 6.5 per cent increase in the same period of 2024.

Growth drivers

Manufacturing and processing expanded 9.3 per cent in February compared to 6.6 per cent in February 2024, contributing 7.9 percentage points to overall industry growth. Electricity production and distribution rose 2.3 per cent, against 13.7 per cent in 2024, adding 0.2 percentage points, and water supply, waste management, and wastewater treatment grew 8.0 per cent (1.4 per cent in 2024), contributing 0.1 percentage points. Mining, meanwhile, contracted 6.4 per cent (-1.9 per cent in February 2024), shaving 1.0 percentage point off growth.

Among cities and provinces nationwide, the IIP increased in 58 localities and declined in five during February. Strong growth was recorded in areas with robust manufacturing and electricity production, while lower increases or declines were seen where these industries, along with mining, expanded more slowly or contracted.

As of February 1, employment in industrial enterprises had risen 1 per cent month-on-month and 4.4 per cent year-on-year. Employment in State-owned enterprises (SOEs) remained stable month-on-month but increased 0.3 per cent year-on-year; in non-State enterprises grew 0.4 per cent and 3.2 per cent, respectively; and in foreign-invested enterprises (FIEs) rose 1.3 per cent and 5.2 per cent.

By sector, mining employment fell 0.2 per cent month-on-month and 0.5 per cent year-on-year. Employment in manufacturing and processing rose 1.1 per cent and 4.8 per cent, respectively, and in electricity, gas, steam, and air conditioning supply remained unchanged month-on-month and edged upwards by 0.1 per cent year-on-year. Water supply, waste management, and wastewater employment also remained stable month-on-month and increased 1.3 per cent year-on-year.

Manufacturing and processing continued to lead in FDI attraction in the opening two months of the year. As of March 1, the sector had attracted $1.45 billion in newly-registered capital, accounting for 66.1 per cent of all new capital. Including additional registered capital from existing projects, total FDI inflows into the sector stood at $4.51 billion, representing 70.8 per cent of total newly-registered and additional capital.

Looming risks

Despite impressive growth in the first two months of 2025, Vietnam’s industrial production faces significant challenges amid domestic and global market fluctuations. In a recent report on industrial production and trade, the Ministry of Industry and Trade (MoIT) outlined key risks that could impact Vietnam’s industrial sector.

First, the global landscape in 2025 is expected to continue evolving rapidly and unpredictably. While cooperation and development remain dominant trends, strategic competition, protectionism, new global alliances, trade wars, supply chain fragmentation, economic sanctions, and technological competition are intensifying.

Second, global economic instability and uncertainty pose risks to Vietnam’s macro-economic stability and growth prospects, particularly for an open economy like Vietnam. De-globalization is gaining momentum, and protectionist policies are on the rise. Major economies such as the US, the EU, and China are adjusting their economic strategies to safeguard national interests, with protectionist measures expected to deepen further.

Third, the transition towards a circular economy, a green economy, and low-carbon development is reshaping global FDI trends. Additionally, the implementation of Global Minimum Tax (GMT) policies may impact FDI flows and influence Vietnam’s investment attraction strategies.

The MoIT also highlighted major structural challenges. Vietnam is accelerating industrialization through science and technology to catch up with developed countries, but its growth model remains heavily reliant on cheap labor; an advantage now being eroded by automation and machinery. Industrial exports, meanwhile, remain dependent on the FDI sector.

The latest Purchasing Managers’ Index (PMI) for Vietnam’s manufacturing sector, released in early March by SP Global, stood at 49.2 in February; marking the third consecutive month below the 50-point threshold. This signals ongoing challenges in manufacturing as weak customer demand continues to drive declines in new orders and output. “Following a fall in January, new orders continued to decline in February,” the report noted. “Though the decline was modest, it was the fastest since September last year.” Survey respondents cited weak demand in both domestic and international markets. Export demand remained sluggish, with new foreign orders falling for the fourth consecutive month, leading to a second straight month of declining manufacturing output in February.

To sustain industrial growth in the months ahead, the MoIT will focus on key solutions: first, strengthening government oversight, addressing bottlenecks, and resolving challenges for ministries, localities, and businesses; second, accelerating major projects and public investment disbursement to stimulate social investment, boost consumer demand, and drive domestic market growth; and third, removing obstacles in industrial and energy projects, advancing the domestic manufacturing of equipment for renewable energy (solar and offshore wind), and localizing railway manufacturing for the North-South high-speed rail and national railway projects, to expedite economic development.

The Ministry also urged other ministries and local authorities to implement projects in line with approved regional and national plans while ensuring stable raw material supplies for key industries, particularly export-driven manufacturing.

-Mạnh Đức

The proposed 120-km expressway will connect two expressways Lang Son - Tra Linh with Thai Nguyen - Bac Kan

Authorities of northern Lang Son province have proposed the Ministry of Construction to conclude the Lang Son – Thai Nguyen expressway into the national road network plan for 2021-2030, with a vision to 2050.

Under the proposal,  the expressway will have a total length of 120 km,  connecting the Dong Dang (Lang Son) - Tra Linh (Cao Bang province) expressway to the Thai Nguyen - Bac Kan expressway.

Total investment capital is estimated at VND29 trillion ($1.12 billion). Of the total, some VND18 trillion ($697 million) will be invested in the section running through Lang Son and VND11 trillion ($426 million) will be spent for the section through Thai Nguyen province.

The expressway will have four lanes and allow a maximum speed of 100 kph.

The project is scheduled to be implemented from 2026 to 2030.

 

-Gia Huy

Accordingly, commercial housing projects will be implemented through agreements to acquire land use rights or utilizing already possessed land use rights.

Some 303 commercial housing projects to be implemented under the pilot mechanism introduced in Resolution No.171/2024/QH15 of the National Assembly have been proposed by 256 businesses in Ho Chi Minh City this year, as of March 20.

The Resolution, promulgated on November 30, 2024, facilitates the implementation of commercial housing projects through agreements to acquire land use rights or utilizing already possessed land use rights.

The Ho Chi Minh City Real Estate Association (HoREA) described this development as a positive indicator of strong engagement from real estate businesses. Amidst a housing market constrained by supply shortages, the pilot mechanism is seen as a critical tool to unlock potential and accelerate the growth of commercial housing in major cities like Ho Chi Minh City.

According to HoREA Chairman Le Hoang Chau, most businesses proposing projects currently hold land use rights, often for agricultural or non-residential land. Others are negotiating to acquire adjacent land use rights to assemble sufficient land for development.

Proposals range in scale, with some businesses owning just a single plot, while larger corporations are submitting plans involving 4 to 16 plots. This diversity highlights the varying capacities and scopes of potential investors.

Under the targets set by the Ho Chi Minh City Housing Development Program for 2021-2025, the city aims to increase its total housing floor area by 50 million square meters, achieving an average housing area per capita of 23.5 square meters.

-Phạm Vinh

Japan emerged as the top destination for Vietnamese workers, welcoming nearly 19,000 individuals.

In the first quarter of 2025, More than  37,000 Vietnamese workers were sent to work abroad, achieving 28.4% of the annual target set at 130,000.

This data was reported by the Department of Overseas Labor under the Ministry of Home Affairs, based on submissions from service enterprises that facilitate overseas labor contracts.

Japan emerged as the top destination for Vietnamese workers in the period, welcoming 18,931 individuals. Taiwan (China) followed with 11,076; while 4,141 workers going to South Korea.

Other destinations included mainland China, Singapore, Romania, and Hungary, receiving a combined number of 397 workers.

Currently, around 450 enterprises have been licensed to send Vietnamese workers abroad. With the overseas labor market expanding, this number is expected to rise to 500 in the near future.

In 2025, the Ministry of Home Affairs aims to not only stabilize and maintain traditional labor markets, such as Japan, South Korea, and Taiwan (China), but also to develop and expand into high-income markets that align with the skills and qualifications of Vietnamese workers.

-Nhật Dương

Japan emerged as the top destination for Vietnamese workers, welcoming nearly 19,000 individuals.

In the first quarter of 2025, More than  37,000 Vietnamese workers were sent to work abroad, achieving 28.4% of the annual target set at 130,000.

This data was reported by the Department of Overseas Labor under the Ministry of Home Affairs, based on submissions from service enterprises that facilitate overseas labor contracts.

Japan emerged as the top destination for Vietnamese workers in the period, welcoming 18,931 individuals. Taiwan (China) followed with 11,076; while 4,141 workers going to South Korea.

Other destinations included mainland China, Singapore, Romania, and Hungary, receiving a combined number of 397 workers.

Currently, around 450 enterprises have been licensed to send Vietnamese workers abroad. With the overseas labor market expanding, this number is expected to rise to 500 in the near future.

In 2025, the Ministry of Home Affairs aims to not only stabilize and maintain traditional labor markets, such as Japan, South Korea, and Taiwan (China), but also to develop and expand into high-income markets that align with the skills and qualifications of Vietnamese workers.

-Nhật Dương

Total investment capital estimated at $2.24 billion.

South-central Binh Dinh province plans to kick off seven key transport projects this year with a combined investment capital of over VND57.86 trillion ($2.24 billion), according to the provincial People’s Committee.

One of key projects is the 123-km Quy Nhon – Pleiku expressway which has an estimated investment capital of over VND38.9 trillion ($1.5 billion).

Other projects include the upgrade of Phu Cat airport with estimated investment capital of over VND3.24 trillion ($125 million). The project includes construction of a second runway primarily for civilian aviation, and additional aircraft apron, and expansion of the passenger terminal.

They also include a 17.3-km road connecting the National Highway No.1 with De Gi port with estimated investment capital of over VND1.43 trillion ($55 million); and a 16.37-km road connecting the North-South Expressway with Phu My Industrial Park and Phu My port with estimated investment capital of more than VND2.1 trillion ($81.3 million).

The remaining projects include the upgrade and expansion of a 104.76-km route in the west of the province with estimated investment capital of over VND9.59 trillion ($371 million); and a 10.43-km road connecting the North-South Expressway with the Hoai My Industrial Park with estimated investment capital of more than VND1.5 trillion ($58 million).

 

-Phương Hoa

It is part of the projected Can Gio Coastal Urban Tourism Area with investment capital estimated at VND64 trillion ($2.6 billion).

The People’s Committee of Ho Chi Minh City has given a green light to the investment project for land reclamation as part of the Can Gio Coastal Urban Tourism Area project.

The project spans across Long Hoa commune and Can Thanh town in Can Gio district.

The land reclamation component covers a total area of over 1,357ha and has been designated as a Group A project with a 50-year operational timeline.

The project has estimated investment capital of over VND64 trillion ($2.6 billion). Of the amount, some VND51.54 trillion will be allocated for construction work.

The initiative aims to transform the area into a premier coastal urban tourism destination, including luxury resorts, convention and conference centers, smart city zones, high-tech service hubs, residential housing, and hotels.

The project will be implemented through 2031.

According to the detailed zoning plan for the Can Gio Coastal Urban Area approved by the city recently, the area will span 2,870ha and is divided into four zones: A, B, C, and D-E. It is estimated to have total population of 228,506 and attract up to 9 million tourists annually.

-Thanh Thủy

ESG is a corporate governance principle that emphasizes making positive impacts on the environment and society while ensuring fair and transparent organizational governance.

The Ministry of Finance released a handbook on March 24 in Hanoi to guide enterprises in adopting the Environmental, Social, and Governance (ESG) framework.

Developed by the ministry's Department of Private Enterprise and Collective Economy Development, in collaboration with the British Embassy in Vietnam and other partners, the handbook is designed to assist small and medium-sized enterprises (SMEs) in integrating ESG criteria into their operations and reporting practices.

ESG is a corporate governance principle that emphasizes making positive impacts on the environment and society while ensuring fair and transparent organizational governance.

Speaking at the conference, Mr. Fergus McBean, First Secretary for Climate and Nature at the British Embassy, highlighted the critical role of ESG in shaping modern business strategies and investment decisions.

"ESG practices help Vietnamese businesses meet the requirements of financial institutions and international markets, particularly the United Kingdom and the European Union (EU). Both markets plan to introduce measures that will require Vietnamese businesses to report on ESG and climate-related actions," he said.

Mr. McBean acknowledged the proactive efforts of Vietnamese businesses in embracing ESG but highlighted the challenges they face due to limited support for ESG reporting. These challenges hinder the progress of implementation, restricting access to green financing and opportunities to enter the global market more effectively.

Mr. Nguyen Duc  Trung, Deputy Director of the Department of Private Enterprise and Collective Economy Development, stressed the importance of ESG adoption for both business and economic growth.

ESG is not merely a trend but a vital requirement for enhancing competitiveness, attracting international investment, expanding export markets, and meeting societal expectations, he noted.

-Khánh Vy

Prime Minister Pham Minh Chinh chairs annual dialogue with young people nationwide on March 25.

Prime Minister Pham Minh Chinh instructed young Vietnamese people to take the lead in developing science, technology, innovation, and digital transformation during his annual dialogue with 300 representatives of 20 million young people nationwide on March 24.

He underlined that the youth should pioneer in innovative thinking and strategic vision, and lead the way in scientific research, technological advancement, and digital transformation.

They were recommended to be proactive in learning, scientific research, technology application, and digital transformation; contributing ideas to institutional perfection and business climate improvement; promoting smart governance and optimizing work efficiency; and boosting startups, innovation, digital transformation.

The PM also urged all levels, sectors, and localities to continue fine-tuning mechanisms and policies while creating a favorable and attractive environment to encourage youth participation in the development of science, technology, innovation, and national digital transformation.

To help promote start-ups, PM Chinh noted that it is necessary to develop an ecosystem for businesses to grow, focusing on three strategic breakthroughs, including simplifying administrative procedures, developing strategic infrastructure while creating new development space, and boosting high-quality human resources.

 

 

-Phúc Minh

In Southeast Asia, it now trails Singapore, Bangkok (Thailand), and Jakarta (Indonesia) but outperforms Manila (the Philippines).

Ho Chi Minh City has climbed seven places to rank 98th out of 119 financial hubs worldwide in the 37th edition of the Global Financial Centers Index (GFCI 37).

This marks the southern city's best performance since its debut in the rankings in 2022.

With an increase of 25 points compared to the previous edition, the city achieved a total of 654 points. In Southeast Asia, it now trails Singapore, Bangkok (Thailand), and Jakarta (Indonesia) but outperforms Manila (the Philippines).

By the end of 2024, the Politburo officially approved a policy to develop an International Financial Center (IFC) in Ho Chi Minh City, and a regional financial center in the central city of Da Nang.

The IFC is set to be developed on a 9.2-ha site in the Thu Thiem urban area of Thu Duc City. Once completed, it is envisioned to become a driving force for Ho Chi Minh City's economic growth by attracting international investors, increasing foreign direct investment (FDI) inflows, and cementing its status as Vietnam's economic powerhouse.

The GFCI, a respected reference for policymakers and investors, evaluates financial hubs based on future competitiveness. The latest edition covers 119 global financial centers, using 140 instrumental factors such as data from the World Bank, the OECD, and the United Nations.

 

-Hồng Minh

The Hoai Nhon – Quy Nhon and Quy Nhon – Chi Thanh sub-projects, crossing south central Binh Dinh and Phu Yen provinces, are expected for completion in September this year.

The Hoai Nhon – Quy Nhon and Quy Nhon – Chi Thanh sub-projects of the eastern North-South Expressway are expected for completion by a deadline of September 30 this year, as set by Prime Minister Pham Minh Chinh.

The PM inspected the construction site of the sub-projects in south-central Binh Dinh province on March 22.

The Hoai Nhon – Quy Nhon section spans over 70km in Binh Dinh province  while the Quy Nhon – Chi Thanh section runs 61.7km through Binh Dinh province and its neighboring Phu Yen province.

The land clearance work and over 70 per cent of the workload of both projects has been completed, according to the investor. It is expected that the construction of 110km will be completed by September 2 , and the remaining over 20km by the end of the month.

 

-Đan Tiên

Germany emerged as Vietnam's leading coffee export market in the first two months of 2025, with turnover hitting $278 million—a 79% increase year-on-year.

The average export price of Vietnamese coffee soared to $5,614 per ton this year, as of mid-March, marking an impressive 73% increase from $3,228 per ton during the same period in 2024.

This surge propelled the country's coffee export turnover to a staggering $2.28 billion within the first 74 days of 2025.

Based on data from Vietnam Customs,  between January 1 and March 15, Vietnam exported 406,637 tons of coffee, reflecting an 18% decline compared to the same timeframe in 2024. Nonetheless, the export value reached $2.28 billion, a 41% increase year-on-year. 

In terms of market destinations, Vietnam's coffee reached 36 major markets globally, with key markets recording significant growth.

Germany emerged as the leading coffee export market in the first two months of 2025, with export turnover hitting $278 million—a 79% increase from $155 million in the same period last year. Italy ranked second, with $171 million, up 31% year-on-year.

Other markets with export turnovers exceeding $100 million included Japan ($127 million, up 56%), the United States ($120 million, up 53%), and Spain ($117 million, up 29%).

Collectively, coffee exports to these five markets amounted to $815 million in the first two months of the year, reflecting a 52% increase year-on-year, and accounting for 37% of Vietnam's total coffee export value in the period.

-Chu Khôi

Vietnam's exports to the Singaporean market in the first two months of this year reached over SGD1.54 billion ($1.15 billion), a 23.21% increase compared to the same period last year.

Vietnam ranked as Singapore's 9th largest trading partner during the first two months of 2025, with a two-way trade turnover reaching over SGD6.57 billion ($4.9 billion), a 27.15% increase year-on-year.

According to the Vietnam Trade Office in Singapore, Vietnam's exports to the Singaporean market in the two-month period reached over SGD1.54 billion ($1.15 billion), a 23.21% increase year-on-year.

In February, the total import-export turnover between Vietnam and Singapore reached over SGD3.18 billion (over $2.37 billion), up 40.41% compared to the same period in 2024.

In the month, exports from Vietnam to Singapore maintained a very high year-on-year growth rate (31.01%), with a value of SGD721.37 million. Meanwhile, import turnover also grew very strongly at 43.43% year-on-year, reaching nearly SGD2.46 billion.

Regarding the groups of goods exported from Vietnam to Singapore, in February 2025, all three main export groups  continued to increase very strongly.

Specifically, machinery, equipment, mobile phones, components, and spare parts increased by 65.25% year-on-year; reactors, boilers, machine tools, and accessories for the above types of machines by 68.83%; glass and glass products by 87.27%.

Some other export sectors also experienced very strong year-on-year growth, such as optical machinery, measuring instruments, medical equipment, watches, musical instruments, and accessories of all kinds increased by over 89.64%; alcohol and beverages by over 84.32%.

Vietnam mainly imports from Singapore machinery, equipment, mobile phones, components, and spare parts; gasoline, oil, and petroleum products; and reactors, boilers, machine tools, and equipment and accessories, among others.

-Vũ Khuê

The Nghi Son Factory, an important part of DaiDung Group's supply chain, advances high-tech manufacturing, producing steel structures for offshore energy, oil platforms, super-large modules, and more.

DaiDung Group has inaugurated the first phase of its Nghi Son High-Tech Mechanical Factory, a key addition to its supply chain. The facility is designed to produce high-tech mechanical products, large-scale steel structures for offshore renewable energy, oil and gas platforms, technology modules, and other industrial components. These products are expected to supply both domestic and international projects.

Spanning approximately 10.2 hectares in its initial phase, the factory has a designed production capacity of 50,000 tons per year and represents a total investment exceeding VND900 billion ($36 million). The facility is constructed to meet LEED Gold standards, incorporating resource-efficient processes, reduced reliance on fossil fuels, and a work environment focused on health and safety. Industry 4.0 technology and automated robots have also been integrated into the production line to enhance operational efficiency.

As a result, the factory has obtained international certifications, including ISO 9001 for quality management, ISO 14001 for environmental management, and ISO 45001 for occupational health and safety. These certifications ensure compliance with standards in major markets such as the Americas, Europe, Australia, Japan, and the Middle East. BIDV previously signed a green credit agreement to finance the project.

Representatives from various departments and agencies of Thanh Hoa Province visited the Nghi Son Factory.

During the inauguration, Mr. Trinh Tien Dung, Chairman and CEO of DaiDung Group, highlighted Nghi Son Town’s advantages in transportation and infrastructure. He noted its strategic role as an industrial, urban, and coastal service hub, supporting key industries like oil refining, thermal power, steel rolling, and cement production. The new factory, he stated, would complement and enhance these industries.

“About 70 per cent of the products will be exported to international markets through Nghi Son Seaport and the company’s own seaport, while 30 per cent will be supplied to the domestic market. This project plays a crucial role in advancing the supporting industry, particularly precision mechanical manufacturing, in Thanh Hoa Province and the broader Northern and North-Central regions of Vietnam. Moreover, once operational, the factory will generate thousands of stable jobs, contribute to the local budget, and train engineers and skilled technical workers, helping to develop top-tier talent capable of producing world-class Vietnamese products,” Mr. Trinh Tien Dung added.

During the event, Mr. Trinh Tien Dung urged the provincial People's Committee and local authorities to approve plans for expanding the factory by an additional 9.2 hectares. He also proposed the construction of a dedicated port, DaiDung Nghi Son Port, covering approximately 8 hectares. He emphasized that these investments would support the maritime economy, strengthen industrial linkages, attract investment into local industrial clusters, and contribute to the government’s goal of achieving sustainable two-digit growth by 2045.

The inauguration marked a significant step for DaiDung Group as it works toward becoming an internationally recognized multi-industry corporation. The company aims to establish itself as a national brand and a leader in mechanical manufacturing, construction, and steel structures, reinforcing Vietnam’s presence in global markets.

-Diep Linh

A pilot program for issuing and trading cryptocurrencies and digital assets to be oversighted Ministry of Finance, Ministry of Public Security, and State Bank of Vietnam.

A pilot program for issuing and trading cryptocurrencies and digital assets has been proposed by the Ministry of Finance, with oversight from three key agencies: The Ministry of Finance, the Ministry of Public Security, and the State Bank of Vietnam, according to a report released by the Vietnam News Agency on March 24.

Under a draft resolution it has submitted to the Government, the Ministry of Finance proposed a pilot program for the issue and trading of cryptocurrencies and digital assets, alongside a mechanism for coordinated oversight involving three key agencies including the Ministry of Finance, the Ministry of Public Security and the State Bank of Vietnam.

The State-run news agency quoted Mr. Bui Hoang Hai, Vice Chairman of the State Securities Commission, under the Ministry of Finance, as stating on March 20 that the purpose of the coordinated framework is to strictly monitor cryptocurrency exchange activities, minimize risks and ensure financial security.

According to Mr. Hai, cryptocurrencies and digital assets are rapidly developing sectors that carry significant risks for both investors and the broader market. As such, the pilot will be implemented on a limited scale and under strict regulatory supervision. This approach mirrors international practices aimed at mitigating money laundering, terrorism financing and other illegal activities.

Currently, Vietnam lacks clear definitions of cryptocurrency and digital assets, and no legal framework exists to regulate the trading or business activities involved. Existing regulations only cover electronic money that is tied to fiat currency (a type of government-issued currency that is not backed by a precious metal, such as gold or silver) such as prepaid cards or e-wallets.

Due to the absence of a legal framework, authorities are unable to implement appropriate tax policies. However, should cryptocurrencies be recognized as legal assets, they could fall under existing tax regimes, including value-added tax and both corporate and personal income tax.

In reality, many Vietnamese start-ups have opted to register in jurisdictions, such as Singapore and the United States, only to return and operate domestically. This has resulted in tax revenue losses and a weakening of Vietnam’s competitive edge in the digital asset arena. Establishing a legal framework would help define and value digital assets, thereby improving transparency and enabling enterprises to access bank credit and secure investment more easily.

According to the Vietnam Blockchain Association (VBA), around 17 million Vietnamese held digital assets in 2024, ranking the country in seventh place globally. However, the total volume of cryptocurrency flowing into Vietnam last year reached $105 billion, down from $120 billion in 2023.

-Vân Nguyễn

The dissolution resulting from the fact that 19 State-owned enterprises and corporations have been transferred to the Ministry of Finance and other ministries.

The Government has decided to dissolve the Commission for Management of State Capital at Enterprises (CMSC), according to a report from the Government News.

The decision takes effect on March 21, 2025.

CMSC, established in 2018, was responsible for overseeing the operation of 19 State-owned enterprises and corporations, which have been transferred to the Ministry of Finance and other ministries.

The dissolution of the CMSC is part of Vietnam's overall plan to streamline and rearrange the political system's apparatus to increase operational efficiency and to save budget for development investment.

-Phạm Long

The projected route is to link Ho Chi Minh City with its neiboring province of Ba Ria - Vung Tau via a planned sea bridge.

A projected coastal route spanning approximately 45.5 km is set to link Ho Chi Minh City with its neighboring provinces of Tien Giang, Dong Nai, and Ba Ria - Vung Tau.

The route will cross the sea at Ho Chi Minh City's Can Gio district and connect to the Cai Mep - Thi Vai seaport system in Ba Ria - Vung Tau, establishing a vital inter-regional corridor in the southern region.

The project,  part of draft adjustments to the general Master Plan of the southern city until 2040, with a vision to 2060, includes two phases.

Phase 1 will involve construction of approximately 34.5 km section of the projected route, with a total investment capital of over VND31.5 trillion ($1.23 billion); and in phase 2, the remaining 11 km, that connects with Dong Nai,  will be constructed, with a total investment capital of around VND6.4 trillion ($250 milion).

The route will be expanded from six to eight lanes depending on the section, and parallel roads will be built on both sides to reduce traffic congestion in the Southeast region.

A key element in the plan to implement this route is to connect Ho Chi Minh City with Ba Ria - Vung Tau via the Can Gio sea bridge.

The projected sea bridge will shorten the distance between the two localities, while also creating a strong impetus for the development of Ba Ria - Vung Tau, a locality that identifies the sea as its focus, leveraging its potential, exploiting the advantages of its sea islands, mountainous landscapes, and diverse biological resources... to develop tourism, promote the marine economy, tourism, and seaports.

-Thiên Ân