Under a directive from Prime Minister Pham Minh Chinh, State-owned Enterprises asked to contribute to double-digit economic growth.

Prime Minister Pham Minh Chinh has set out directives for State-owned enterprises (SOEs) to contribute to double-digit economic growth and rapid and sustainable national development.

Under Directive No.09/CT-TTg, signed recently by the PM, the SOEs are required to continue strengthening and promoting their pioneer role in important and essential fields of the economy, contributing to the construction and development of the socio-economic infrastructure system and economic restructuring. 

The SOEs are asked to proactively build tasks and solutions to develop businesses, particularly promoting pioneer role in innovation, digital transformation, and development and application of science and technology; institutional construction; development of digital economy, green economy, circular economy, sharing economy, and knowledge-based economy.

They are also instructed to pioneer in developing made-in-Vietnam products, joining the global supply and value chains, and improving the national brand value.

 

 

-Tiến Dũng

The plant invested in by Lite-On Technology, one of the world's top 10 corporations specializing in manufacturing electronic components.

The first phase of a $690 million electronics plant in northern Quang Ninh province was kicked off on March 18 by Lite-On Technology, one of the world's top 10 corporations specializing in manufacturing electronic components for computers, mobile phones, and other devices.

Covering 30ha at Song Khoai Industrial Park in Quang Yen township, the facility will specialize in manufacturing electronic components for computers, optical devices, lighting equipment, and communication technologies.

Once fully operational, it is expected to produce nearly 124 million units annually.

The construction is scheduled for completion in November this year.

The project demonstrates the province’s commitment to administrative reform and a business-friendly environment to attract high-tech, smart, and eco-friendly industrial investments.

-Hạ Chi

Once completed, the port will feature four berths capable of accommodating ships with a tonnage of up to 70,000 DWT and international passenger vessels with a capacity of 225,000 GT.

The People's Committee of the central province of Quang Binh, in collaboration with Hon La Port Joint Stock Company, has officially commenced construction of the Hon La International General Port.

Situated in Quang Dong commune, Quang Trach district, the project is set to bolster the Hon La Economic Zone and industrial parks across the province. It will also serve as a vital hub for cargo transshipment to Laos and northeastern Thailand.

Spanning over 39 ha, the project entails a total investment capital of nearly VND2.3 trillion (approximately $89.9 million). Once completed, the port will feature four berths capable of accommodating ships with a tonnage of up to 70,000 DWT and international passenger vessels with a capacity of 225,000 GT.

The development will be executed in two phases. The first phase, with completion expected in Q1, 2026, will consists of two berths with a combined length of 470 m.

These berths will handle general cargo ships with a capacity of up to 50,000 tons and bulk cargo ships of up to 70,000 tons.

Covering 25.69 ha, Phase 1 is expected to achieve an operational capacity of approximately three million tons annually.

In the second phase, two additional berths, stretching 500 m in total, will be constructed alongside a synchronized logistics system. These enhancements will enable the port to receive vessels of up to 100,000 tons. Upon completion in Q4, 2027, the port's total capacity will double to six million tons annually.

-Nguyễn Thuấn

It featuring a mix of low-rise and high-rise residential areas, apartment complexes, riverside villas, and commercial centers.

A new urban area project in central Da Nang city kicked off on March 21 with an estimated investment capital of nearly VND11.5 trillion ($446 million).

The Thuan Phuoc – Da Nang urban area covers over 97ha in Son Tra district.

It will feature a mix of low-rise and high-rise residential areas, apartment complexes, riverside villas, commercial centers, and shopping streets. 

Additionally, the development will include 5-star hotels, a 16.5-hectare theme park, and a sea square.

Addressing the ground breaking ceremony, Vice Chairman of the city’s People’s Committee Le Quang Nam said Da Nang is focusing on infrastructure investment and attracting strategic projects, particularly development of smart and sustainable urban areas as part of the city’s orientation to transform Da Nang into an international financial, trade and services center.

The project is one of the largest in the city, promising a significant facelift landmark in the north of the Son Tra peninsula and marking a new stage in the city’s positive growth for the next decades.

 

-Ngô Anh Văn

H.E Hilde Solbakken, Ambassador of Norway to Vietnam, tells VET’s Anh Hoang about the growing partnership between Vietnam and Norway in advancing green growth.

Vietnam and Norway have a long history of diplomatic and economic cooperation. From your perspective, what are the key areas where the two countries can further strengthen their collaboration?

Norway and Vietnam have numerous opportunities in the years ahead to deepen cooperation, particularly in areas of shared priority, such as climate action and sustainable ocean management. Both countries are committed to combating climate change while ensuring that their oceans remain clean, healthy, and productive.

A key sector for collaboration is renewable energy, including the entire value chain for solar, wind, and hydropower. As Vietnam transitions towards a greener economy, Norwegian expertise in these areas can contribute significantly to its energy goals. Additionally, aquaculture presents immense potential, building on the strong foundation of agricultural cooperation between the two countries.

Another promising area is green shipping. Over the past year, interest in sustainable maritime solutions has grown, both from Norwegian companies exploring opportunities in Vietnam and from Vietnamese stakeholders seeking advanced technologies and expertise from Norway. This trend signals exciting prospects for collaboration in decarbonizing the maritime sector and fostering innovation in shipbuilding and logistics.

How can Vietnam and Norway collaborate more in marine conservation, sustainable fisheries, and especially the maritime industry?

Norway and Vietnam already have several exciting collaborations in these areas. One key initiative is Norway’s support in developing marine spatial planning; a fundamental framework that helps governments and industries make informed decisions about ocean resource management. This approach integrates environmental considerations with the needs of various ocean industries, including fisheries, tourism, defense, and offshore wind, ensuring sustainable resource utilization while minimizing environmental impact and carbon footprint.

Another major area of cooperation is the circular economy, particularly in waste management and plastic pollution prevention. Norway and Vietnam have worked closely to address the growing challenge of marine plastic waste, which severely impacts marine life, fisheries, and ocean-based industries such as tourism. Reducing plastic leakage into the ocean is a shared priority, as it directly affects both environmental sustainability and economic sectors that depend on healthy marine ecosystems. Strengthening our partnership will be crucial for advancing international efforts to protect our oceans.

Norway is known for its expertise in sustainability and environmental governance. How can Norway support Vietnam in achieving its green growth and net-zero emissions targets?

Vietnam has set highly-ambitious green growth and net-zero targets, and Norway is on a similar path. This creates a strong foundation for collaboration, allowing both countries to exchange experience and strategies for a successful green transformation. While each nation must tailor its approach to fit its unique industrial profile and natural resources, there are several key areas where Norway’s experience can offer valuable insights.

One of the most critical factors in Norway’s transition has been a strong, coordinated government approach. Effective green transformation requires inter-ministerial cooperation, ensuring that all relevant agencies align their strategies and policies to create a unified national roadmap. This holistic approach has been instrumental in driving sustainable industrial development.

Another key success factor in Norway has been the close collaboration between the government, industry leaders, and research institutions. This partnership ensures that policies are not only informed by the latest scientific and technological advancements but are also practical and aligned with the needs of businesses. By fostering such cooperation, Norway has been able to develop precise, actionable policies that support innovation and technological progress in the green economy.

Vietnam and Norway share many similarities in their sustainability goals. By strengthening collaboration in these areas, both countries can accelerate their transition towards a greener, more sustainable future.

What makes Vietnam an attractive partner for Norway in the journey to green growth?

Norway and Vietnam share many commonalities that make us natural partners in green growth. Both have long coastlines that play a crucial role in their economies as well as open economies that are highly dependent on international trade. Most importantly, we share a strong commitment to combating climate change and preserving our oceans, ensuring they remain clean, healthy, and productive for future generations. This shared vision provides a solid foundation for collaboration across various sectors, particularly in ocean-based industries.

One of the most exciting areas of cooperation is sustainable ocean industries. Both Norway and Vietnam have extensive experience in fisheries and aquaculture, and these sectors are undergoing significant transformations as we work towards more sustainable practices. Norway has been a leader in developing technology-driven, environmentally-responsible aquaculture, and we see great potential in sharing our expertise with Vietnam to enhance productivity while reducing environmental impact.

Beyond traditional industries, Vietnam’s growing focus on offshore wind and renewable energy aligns closely with Norway’s strengths. Norway has been a pioneer in offshore wind and green maritime solutions, and there is immense potential for knowledge exchange in these fields. Norwegian companies increasingly view Vietnam as a strategic partner in offshore wind development, given Vietnam’s favorable conditions, including strong wind resources and existing expertise in offshore industries from its oil and gas sector. By working together, we can accelerate Vietnam’s transition to clean energy while fostering innovation and investment.

Furthermore, regulatory cooperation between our governments will be key to ensuring a smooth transition to green growth. Norway has developed comprehensive frameworks for environmental governance and sustainable industry practices, and we see opportunities to share insights with Vietnam as it strengthens policies to attract green investments. Establishing clear, transparent regulations will be crucial in boosting business confidence and enabling private sector-led solutions.

Ultimately, while governments set the framework, businesses will drive real change towards a greener future. Norwegian companies entering the Vietnamese market bring not only technical expertise and innovative technologies but also a strong commitment to sustainability and knowledge-sharing. They are eager to collaborate with local partners to develop solutions tailored to Vietnam’s needs, creating long-term value for both sides.

In short, Vietnam’s dynamic economy, strategic location, and commitment to sustainability make it a highly-attractive partner for Norway in the journey to green growth. With continued collaboration at the government, industry, and research levels, we can work together to build a more resilient and sustainable future.

From your experience working in Vietnam, what aspect of Vietnam’s green transformation has impressed you the most?

First and foremost, I am deeply impressed by Vietnam’s commitment to setting clear and ambitious goals for its green transformation. The strong and consistent message from the Vietnamese Government about moving toward a greener, more sustainable future is highly encouraging. Vietnam is demonstrating a serious effort to align its development with global sustainability standards, and that level of commitment is commendable.

Additionally, Vietnam’s proactive approach to attracting international investment and technology in the renewable energy sector is remarkable. There is growing interest from global energy players, including Norwegian companies, in partnering with Vietnam to develop green technologies, improve energy efficiency, and support sustainable infrastructure projects. This openness to collaboration and knowledge exchange will be crucial in ensuring the success of Vietnam’s green transformation.

Overall, Vietnam’s combination of clear policy direction, technical expertise, and willingness to embrace innovation positions the country as a key player in the global shift towards sustainability. I believe that with continued effort and strong international partnerships, Vietnam can become a leader in green energy development in the region.

-Minh Anh

Despite New Zealand being a major seafood exporter itself, it imports substantial amounts from global suppliers, including Vietnam.

The Vietnam Trade Office in New Zealand has highlighted numerous opportunities for Vietnam to expand its exports and strengthen cooperation in the New Zealand market.

Among key potential products is rice, which has significant room for growth. While New Zealand has a highly developed agricultural sector, with 90-95% of its produce destined for export, it imports a majority of its grains from Australia, Thailand, and India.

To capitalize on this potential, the Vietnam Trade Office suggests that Vietnamese rice exporters thoroughly research the New Zealand market, including its consumption habits and preferences.

Seafood also offers considerable advantages for Vietnam. Despite New Zealand being a major seafood exporter itself, it imports substantial amounts from global suppliers, including Vietnam. Key Vietnamese seafood products exported to New Zealand include shrimp, frozen fish fillets, squid, octopus, and crab.

To facilitate the entry of Vietnamese agricultural and seafood products into New Zealand, the Trade Office emphasizes the importance of collaboration between Vietnam’s Ministry of Agriculture and Environment and New Zealand’s Ministry for Primary Industries (MPI).

This cooperation should begin early, focusing on conducting Import Risk Assessments (IRA) and developing Import Health Standards (IHS) for Vietnam’s products. Additionally, encouraging MPI to carry out IRAs for Vietnamese lychees, longans, and cut flowers could open up new opportunities for exports.

Government agencies and the Ministry of Agriculture and Environment are also encouraged to leverage New Zealand’s Official Development Assistance (ODA) projects and technical support. These initiatives could improve post-harvest preservation techniques and product processing, boosting the quality and competitiveness of Vietnamese exports.

Vietnam's participation in trade agreements such as the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP) has resulted in reduced or eliminated tariff and non-tariff barriers. These agreements provide a significant edge for Vietnamese goods in the New Zealand market compared to countries without similar trade agreements. Leveraging these advantages could help Vietnam expand its market share in New Zealand.

-Vũ Khuê

The government has introduced task forces to ensure that public investment disbursement reaches the levels required to boost growth.

The Ministry of Finance (MoF) has described public investment disbursement as falling short of expectations in 2024. As of December 31, the disbursement rate through the Vietnam State Treasury is estimated to have reached just 72.9 per cent of the plan. The key reasons behind this shortfall, according to the MoF, include unrealistic planning and budget allocation, ineffective execution, and lingering obstacles related to policies, regulations, site clearance, and investment procedures.

In response, the government has launched task forces led by Deputy Prime Ministers to directly oversee and accelerate the disbursement process. Ministries, agencies, and local authorities have also been urged to fast-track construction, streamline project acceptance procedures, and expedite final settlements to ensure progress stays on track.

Disbursement pressure

In 2025, public investment is expected to serve as the primary driver of Vietnam’s economic growth, as it marks the final year of the 2021-2025 medium-term public investment plan.

The government adjusted the public investment plan for the year in February, to approximately VND875 trillion ($35 billion); higher than the previously allocated VND790.7 trillion ($31.63 billion) and representing a 37.7 per cent increase compared to disbursement in 2024.

It also aims to raise the proportion of development investment expenditure to total State budget expenditure from 29 per cent in 2024 to 31 per cent in 2025 while reducing recurrent expenditure from 65 per cent in 2024 to below 60 per cent in 2025. If necessary, the government has proposed adjusting the State budget deficit to 4-4.5 per cent of GDP to mobilize resources for development investment. Public debt, government debt, and external debt may reach or exceed the warning threshold of around 5 per cent of GDP.

According to the MoF, the VND875 trillion in the public investment plan will be allocated to key projects such as the North-South Expressway, Long Thanh International Airport in southern Dong Nai province, and Terminal 3 at Ho Chi Minh City’s Tan Son Nhat International Airport. The government is also prioritizing infrastructure development, with comprehensive master plans for airports, seaports, railways, roads, and highways for the 2021-2030 period with a vision to 2050.

At a recent conference, Mr. Andrew Wood, Director - Asia Pacific Sovereign Ratings, at SP Global Ratings, noted that Vietnam’s moderate government debt levels and low external borrowing risks provide ample fiscal space for infrastructure development. “Vietnam’s public debt is estimated at around 36-37 per cent of GDP in 2024, significantly lower than the 60 per cent ceiling set by the National Assembly,” he said. “This low debt level offers substantial room for medium-term fiscal stimulus packages.”

He added that measures such as increased public investment and infrastructure development will enhance national competitiveness, attract more FDI, and create positive ripple effects in industries like construction materials, logistics, and industrial parks. However, Vietnam’s cumbersome institutional framework and lack of transparency remain major obstacles to public investment efficiency.

Mr. Nguyen Hoang Linh, Head of Research at Vietcombank Fund Management (VCBF), pointed out that institutional bottlenecks are the biggest hurdle facing public investment disbursement. Disbursement has typically reached around 90 per cent of the Prime Minister’s allocated plan in recent years. “I have observed that the State Treasury’s deposits in major commercial banks reach up to VND1,000 trillion ($40 billion) at times,” he remarked. “This indicates that public investment disbursement remains largely on paper, with funds not yet flowing into the market to generate broader economic effects.”

Despite these challenges, Mr. Linh expressed optimism about public investment disbursement in 2025. “Major institutional reforms were initiated in late 2024 and are now being rapidly implemented, with the government aiming to complete the administrative restructuring within the first quarter,” he said. “Streamlining the system will free up additional resources for infrastructure investment.”

On average, government spending accounts for around 20 per cent of GDP annually, with recurrent expenditures comprising 60-70 per cent of the total State budget, equivalent to VND300-350 trillion ($12-14 billion). If recurrent spending is reduced to 10 per cent of GDP, an additional 2 per cent of GDP could be allocated to public investment. Last year, public investment accounted for approximately 5.7 per cent of GDP.

Improving investment efficiency

According to analysts’ calculations, to achieve the GDP growth target of 8 per cent set for 2025, total social investment capital must reach VND4,200 trillion ($168 billion), an increase of 14.6 per cent compared to 2024. Of this, disbursed public investment must reach VND875 trillion ($35 billion), nearly 30 per cent higher than the 2024 plan.

Experts have recalled lessons from Japan, South Korea, and China: when these countries experienced 10 per cent GDP growth, their ICOR (Incremental Capital-Output Ratio, which measures capital efficiency in relation to output growth) ranged from 3 to 4. Therefore, to achieve Vietnam’s ambitious growth target, ICOR must also be within the 2-4 range. “If the ICOR is not improved, total social investment capital may increase as expected but achieving 8 per cent growth will still be impossible,” Mr. Linh believes. “On the other hand, if the ICOR improves beyond the target, we could exceed 8 per cent growth.”

The government is making strong efforts to enhance the efficiency of infrastructure investment projects. The Prime Minister has consistently instructed ministries and local authorities to resolve delayed projects and concentrate capital on key projects to ensure their progress, as they play a critical role in driving growth across various economic sectors. In recent directives, he also tasked the MoF with intensifying inspections and audits of infrastructure investment projects and linking project progress with the specific responsibilities of individuals.

Along with these measures, experts recommend that the government direct relevant agencies to reform the allocation of public investment capital as soon as possible.

Currently, public investment allocation is primarily based on the urgent development needs of localities. However, experts suggest that the government establish evaluation criteria for public investment efficiency and management at the local level. These criteria would enable a more strategic allocation of State budgets, prioritizing localities that utilize public investment capital effectively.

Analysts have also recommended adopting a variety of assessment methods to measure the impact of public investment on economic growth. Each method has its own strengths and limitations, and no single approach can fully capture the comprehensive impact. Maximizing the use of multiple evaluation methods is therefore essential.

 

-Phan Linh

Container cargo projected to reach 7.454 million TEUs, up 11% year-on-year.

Vietnam's seaport cargo throughput is estimated to reach nearly 207 million tons in the first quarter of the year, soaring 4% year-on-year according to the Department of Maritime and Inland Waterways Administration.

Of the total, export cargo is expected at 17.257 million tons, down 1% year-on-year; and import cargo 65.345 million tons, up 6%.

Container cargo is projected to reach 7.454 million TEUs, surging 11% compared to the same period last year.

In the first two months of the year alone, total seaport cargo throughput amounted to 135.38 million tons, a year-on-year increase of 9%. It signaled the recovery and development of the logistics and maritime transport industries after the Covid-19.

Localities that recorded high growth in seaport cargo throughput include Ho Chi Minh City, southern Ba Ria-Vung Tau province, and northern Hai Phong province.

 

-Xuân Nghi

The central province is home over 300 active textile and garment enterprises.

The People’s Committee of Thanh Hoa Province has approved the investment policy and investor for a new factory specializing in the production of apparel, leather footwear for export, and textile accessories.

The project, located in Nong Cong district, will span nearly 3 ha with a total investment of approximately VND86 billion (nearly $3.4 million). The factory, developed by Chico Tan Phuc Joint Stock Company, is projected to produce 1.2 million apparel products and 0.8 million pairs of footwear annually for export.

Provincial authorities have stipulated that the company must complete all necessary procedures and land lease documentation within 12 months. Should the company fail to comply, the decision on the approval of the investment policy and the investor will be rendered invalid.

In a separate development, the People's Committee also issued a decision approving adjustments to the investment policy for an export leather footwear factory in Yen Cat Town, Nhu Xuan district.

This project will require a total investment capital of approximately VND96.6 billion (over $3.77 million) and will cover more than 3.7 ha.

The province is home to over 300 active textile and garment enterprises. These businesses have been leveraging advanced technology and enhancing production processes to maintain competitiveness in traditional markets while actively expanding into emerging markets such as the Middle East and South America.

In 2024, the province's textile and garment sector produced over 700 million products, with approximately 450 million for exports—representing a growth rate of about 20% compared to the previous year. In 2025,  the sector aims to maintain its momentum, targeting an annual output of over 700 million products and export volumes of approximately 470 million products.

-Nguyễn Thuấn

The route will link Addis Ababa to Hanoi with four weekly flights initially, starting from July 10.

Ethiopian Airlines, one of Africa's leading airlines, will launch a direct air route linking Addis Ababa, the capital city of Ethiopia, to Hanoi.

Initially, the airlines will operate four weekly flights on the route, starting from July 10.

The new service provide one more travel option for passengers travelling between Africa and Southeast Asia.

Ethiopian Airlines Group CEO Mesfin Tasew  expressed his pleasure to expand presence in Southeast Asia and enhance air connectivity for customers in the region.

"This new route will create opportunities for stronger ties and collaborations between Vietnam and our extensive global network. We look forward to bringing our renowned service to Vietnam and further growing our presence in this dynamic market", he was quoted by the Government News as saying.

According to the Vietnam National Authority of Tourism, the number of visitors from Africa remains limited, but recorded the strong growth in 2024, with a rise of 169.1 per cent year-on-year, standing at 50,906.

In the first two months of this year, Vietnam welcomed 9,201 visitors from Africa, a year-on-year increase of 212 per cent.

 

-Phạm Long

Vietnam is home to approximately 350 enterprises and factories producing wood pellets, 80 of which are actively involved in exports.

Vietnam exported over 24 million tons of wood chips and wood pellets in 2024,  generating nearly $3.5 billion in revenue.

Most of these products are used as fuel for thermal power plants in importing countries.

According to the Vietnam Timber and Forest Products Association (VIFOREST), exported wood pellet reached 6.03 million tons, earning $805.27 million—a 29.1% increase in volume and an 18.5% rise in value compared to 2023.

South Korea and Japan remained Vietnam's top markets, accounting for 94% of the export volume and 92.6% of the export value. The European Union ranked as the third,  importing 95.6 thousand tons, valued at $15.76 million.

Mr. Nguyen Thanh Phong, Head of the Wood Pellet Sub-Association under VIFOREST, revealed that Vietnam is home to approximately 350 enterprises and factories producing wood pellets, 80 of which are actively involved in exports. In addition, dozens of foreign direct investment (FDI) enterprises from South Korea and Japan have set up production plants in Vietnam, reflecting growing international interest in the sector.

"It is forecast that the global demand for wood pellets for thermal power will reach around 30 million tons in 2025, and after 2030, demand may soar to hundreds of millions of tons annually. Although Vietnam ranks second globally in wood pellet exports, it currently meets only 10-15% of the total global demand," Mr. Phong noted.

At COP26, world governments pledged to reduce greenhouse gas emissions, including substituting fossil fuels with renewable biological materials like wood pellets. Mr. Phong emphasized that wood pellets are poised to become a critical commodity, contributing to Vietnam’s efforts to achieve its climate goals under the COP26 commitments.

-Chu Khôi

Addressing the event, Party General Secretary General To Lam highlighting that digital transformation, with data at its core, is fundamentally changing the way people live, work, and develop.

The National Data Association held its first national congress in Hanoi on March 22, with the presence of Party General Secretary To Lam, Prime Minister Pham Minh Chinh, among many other senior officials.

Addressing the event, Party Chief To Lam, as quoted by the Vietnam News Agency, stated that the Party and the State will provide the best possible conditions and maximum support for the development of the data industry so that Vietnam can soon become a digital nation with a digital society and a prosperous digital economy.

Stressing the importance of data, the Party leader pointed out that digital transformation, with data at its core, is fundamentally changing the way people live, work, and develop.

He noted that in its Resolution No. 57-NQ/TW, issued on December 22, 2024, the Politburo identifies data as the core of digital transformation and a key driver of development. The resolution also outlines pilot policies to establish an initial legal corridor for promoting data development and utilization.

He asked the National Data Association to promote its core role in building, developing, utilizing, and enriching national data, focusing on the four pillars of people, location, activities, and products. He requested it to proactively apply, master, and advance towards self-reliance in core data technologies, particularly artificial intelligence (AI), big data, blockchain, and cloud computing technologies.

Emphasizing the association's role in several key programs and initiatives, the Party leader stressed the need to develop a data market to support sustainable development, as well as establish a national data market and data exchange platforms to facilitate research, startups, innovation, and data-related products and services for sustainable socio-economic development.

He also highlighted the importance of building a national open AI platform to enable businesses to easily access and apply AI, noting that this should be Vietnam’s own AI.

Additionally, attention should also be paid to boosting data literacy among the public while raising awareness, knowledge, and skills about data for people from all social strata, especially regarding the value and importance of personal data protection and compliance with legal regulations, he said.

According to the Party chief, data-based innovation challenge competitions should be organized soon to encourage the community to develop creative data-driven solutions and to create a platform that maximizes human potential in science and technology. He also underlined the necessity to strengthen self-reliance in data technology, and priorities, encourage and establish mechanisms to ensure that "Make in Vietnam" data technology products can compete fairly in the market, especially the international market.

The General Secretary called for support for accelerating the development of advanced data infrastructure, including data centers invested in by both the State and private enterprises. He also urged strengthening international cooperation, learning from global experience, attracting resources, and participating in global data initiatives, adding that it is necessary to build effective enforcement and monitoring mechanisms.

Government agencies, with the Ministry of Public Security and the Ministry of Science and Technology holding the leading role, together with other relevant ministries and sectors, must work out a more synchronized and stringent monitoring system by leveraging digital technology to ensure full and effective compliance with legal regulations, he said.

He emphasized the need to ensure data security by developing data protection systems and data security services, establishing data security standards, and forming an data security industry.

Mentioning certain shortcomings in data governance and exploitation, the Party leader said data governance is not only a policy issue but also a technological issue. Without technology, it is impossible to efficiently and safely collect, store, process, analyze, and share data.

The establishment of the National Data Association holds great significance, he stated, expressing his belief that it will take the lead in implementing Resolution 57 and other resolutions on science and technology, thus enabling Vietnam to become a digital nation with digital governance, digital economy, and digital society based on the country's "accurate, sufficient, clean, and living" data.

He requested a legal framework for data be completed to ensure that data can be collected, transferred, connected, shared, and maximized while maintaining data security, safety, and sovereignty.

Speaking at the event, General Luong Tam Quang, Minister of Public Security and President of the National Data Association for the 2025–2030 tenure, stated that the association will serve as a bridge connecting businesses, and foster a diverse and stable data ecosystem to support sustainable digital transformation across all sectors and lay a prerequisite for the country to enter a new digital era.

The National Data Association is tasked with connecting regulatory agencies, businesses, organizations, and individuals operating in the data industry. It aims to build a strong data ecosystem, helping promote the development of a digital economy and increasing the value of data in the national economy.

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A crucial recommendation was to allocate dedicated land for the supporting industry.

The supporting industry is a vital pillar in Vietnam's private economy, enhancing domestic production capacity and attracting foreign investment.

However, the country faces significant challenges in promoting this sector, including the lack of effective solutions to address land allocation for the supporting industry.

According to Mr. Phan Dang Tuat, Chairman of the Vietnam Association of Supporting Industries, the manufacturing sector—commonly referred to as part of the supporting industry—encompasses four main groups: electronic components, mechanics, plastics and rubber, and ancillary materials.

Together, these fields form a massive industry that requires cutting-edge technology and techniques, serving as the foundation for national economic growth. However, Vietnam remains underdeveloped in this critical area.

To address these challenges, Mr. Tuat proposed 10 recommendations for advancing the supporting industry.

Key proposals include redefining the essence of the supporting industry, establishing a dedicated development fund, and creating an incubator system with equipment and machinery tailored to actual needs.

He also called for collaboration with international inspection centers to help businesses ensure product quality, as well as launching a national program on materials.

Mr. Tuat emphasized the need for policies that encourage large domestic enterprises to mentor smaller firms. He cited South Korea's approach, which prohibits large companies from producing 1,600 specific components to give smaller businesses opportunities to grow. Additionally, he stressed the importance of specific policy tools to connect foreign direct investment (FDI) enterprises with local businesses.

A crucial recommendation was to allocate dedicated land for the supporting industry, potentially offering initial fee waivers, with charges applied only once businesses become profitable.

He also suggested establishing a specialized agency to oversee the supporting industry, serving as a focal point for management, and called for the enactment of a separate law to regulate and promote the industry.

-Phan Dương

The primary objective of the project is to establish an intermediary organization that connects partners, facilitates information sharing, promotes technology transfer.

The Hanoi People's Committee has issued Decision No. 1593/QD-UBND, approving the investment policy for the Hanoi Technology Exchange project (Phase 2).

The project entails a total investment capital of VND52.57 billion (over $2 million), which covers construction costs, equipment procurement, project management, consultancy expenses, and other related costs.

Funding for the initiative will be sourced from the city's budget, with completion anticipated by 2025.

The primary objective of the project is to establish an intermediary organization that connects partners, facilitates information sharing, promotes technology transfer, and supports businesses in exploring cooperation opportunities within the field of science and technology.

The construction plan includes the development of a Technology Exchange that operates in two formats: physical (offline) and online.

The physical exchange will include a reception area, technology display zone, conference facilities, and office spaces whilst the online exchange will consist of an e-commerce platform specializing in technology and equipment, serving as a hub for consulting, brokerage services, seminars, and technology promotion activities.

-Anh Khoa

Despite possessing a host of favorable conditions, Vietnam still has much to do to develop a strong domestic shipbuilding industry and secure a firm position in the global market.

According to recent figures from the International Maritime Organization (IMO), more than 90 per cent of global trade is transported by sea. As the government has set a target of 12 per cent trade growth this year and to reach $1 trillion in total trade turnover within the next few years, expanding Vietnam’s shipping fleet and developing a domestic shipbuilding industry have become critical to sustaining stable commercial growth.

Speaking at the opening ceremony of the 10th VietShip International Exhibition on Shipbuilding and Offshore Technology (VietShip 2025), which kicked off at the National Conference Center in Hanoi on March 5, Deputy Minister of Construction Nguyen Xuan Sang emphasized that Vietnam has targeted economic growth of 8 per cent this year, with key industries, including maritime transport and shipbuilding, playing a crucial role.

Setting sail

According to Mr. Hoang Hong Giang, Deputy Director of the Vietnam Maritime Administration (VMA), Vietnam is currently home to 88 shipbuilding enterprises and 411 facilities specializing in building inland waterway vessels. Vietnam’s current shipbuilding capacity is approximately 3.5 million tons a year, accounting for 0.61 per cent of global market share and employing over 80,000 workers as of the end of 2024.

Among the shipbuilders in Vietnam, the Shipbuilding Industry Corporation (SBIC) is one of the most prominent, operating eight shipyards with an annual new building capacity of 1.3 million tons and a repair capacity of 654,000 tons, building an average of 68 vessels and servicing 304 vessels per year.

Mr. Giang also pointed out that the current capacity is not enough to meet the export needs of Vietnam and there is an urgent need to expand the country’s shipbuilding industry. Of the 1,490 registered vessels in Vietnam as of the end of 2024, over 73 per cent have a gross tonnage of less than 5,000 tons. “The Vietnamese fleet is primarily suited for domestic coastal shipping and short-haul international routes within the region,” he said. “It has yet to compete in the global shipping market. The furthest route currently serviced by Vietnamese vessels is to India.”

He also highlighted that global shipbuilding capacity is currently unable to meet the growing demand for maritime freight. It is estimated that the world will require around 5,284 newly-built ships in 2030, with a total weight of 311.2 million tons. But only a few countries, such as China, South Korea, Japan, and Turkey, have well-developed shipbuilding industries at this time, presenting an opportunity for Vietnamese companies to capture a larger share of the global shipbuilding market.

The VMA forecasts that the country’s shipbuilding capacity for foreign customers could reach 2.7-2.8 million tons a year by 2030, accounting for 0.88-0.9 per cent of global demand.

Dr. Pham Hoai Chung, Chairman of the Member’s Council at SBIC, said shipbuilding is a core industry that contributes to the broader economy by fostering demand in various industrial sectors. Vietnam boasts a nationwide network of shipyards capable of producing a diverse range of vessels to meet both domestic and international market demands. State-owned enterprises (SOEs) such as SBIC and PetroVietnam, along with several foreign-invested shipyards, currently handle the majority of shipbuilding needs.

Despite its relatively small export market share, Vietnam’s shipbuilding sector has successfully developed a range of high-quality vessels, including large-capacity, specialized, and high-tech ships. Over the past two decades, the industry has made significant strides forward, moving from building ships under 3,000 deadweight tons (DWT) to producing bulk carriers of up to 65,000 DWT, 1,800-TEU container ships, 150,000-DWT floating storage and offloading (FSO) units, car carriers for 4,900 vehicles, 104,000-DWT oil tankers, and 13,000-DWT chemical tankers.

Following restructuring efforts, SBIC remains Vietnam’s leading shipbuilding and repair company, operating 25 dry docks and slipways capable of launching vessels ranging from 5,000 to 80,000 DWT.

Vietnam’s demand for maritime transport is expected to grow significantly in the years to come, at around 10 per cent a year to 2030. The goal is for the Vietnamese fleet to increase its share of trade cargo transport while fully meeting domestic transportation needs. Therefore, Dr. Chung believes that the rising demand for shipbuilding will align with the expanding domestic market.

Gaining a foothold

Despite these opportunities and achievements, Mr. Giang also identified several challenges hindering Vietnam’s shipbuilding industry, including scattered investments, outdated production technology, low automation levels, and a reliance on imported materials. Vietnamese shipyards also lag behind foreign-invested enterprises in terms of productivity and competitiveness.

Therefore, despite having 88 shipbuilding companies, Vietnam’s specialized infrastructure for the industry remains limited. Nationwide, there are only 19 docks / slipways for building and repairing ships ranging from 5,000 to 400,000 tons, 17 slipways for vessels between 6,500 and 70,000 tons, and just one modern ship lift capable of handling ships up to 70,000 tons. “Meticulous precision is required to apply modern shipbuilding technology, much like manufacturing an automobile,” Mr. Giang explained. “Slipways or floating docks cannot be used for this purpose. A ship lift, similar to an elevator, is necessary, but Vietnam has only one such facility in the entire country.”

In addition to the lack of shipbuilding infrastructure, he added that the local shipbuilding industry has not yet mastered the production of any major component of the process, as the country lacks a developed support industry and primarily provides labor-intensive services.

Dr. Chung said his company, despite being the biggest domestic shipbuilder, is only operating at around 50-60 per cent of design capacity due to insufficient investment in infrastructure and technology.

To overcome these issues, Mr. Giang, drawing from the experience of other countries with developed shipbuilding industries, emphasized the need for SOEs to take the lead, with preferential loans, contract guarantees, and policy support offered to attract and train a highly-skilled workforce. Tax incentives and financial assistance are also necessary to boost the industry’s growth.

The government should designate specific coastal and riverfront areas for shipbuilding and repair facilities, exempt shipbuilding enterprises from land rental fees, and establish dedicated shipbuilding industrial parks in key cities and provinces such as Hai Phong and Quang Ninh in Vietnam’s northern region and Ba Ria-Vung Tau in the southern region.

Regarding capital investment and the development of support industries, experts recommend that Vietnam identify its niche and the right market segment within the global shipbuilding industry.

While countries like China focus on building large vessels with relatively-advanced technology, South Korea and Japan specialize in high-tech, large-tonnage ships. Vietnam, in contrast, could carve out a position by targeting mid-sized and smaller cargo ships, allowing it to establish a foothold and secure the necessary funding for further development.

Preparing for the future

Looking at the future of shipbuilding, many countries are setting ambitious goals to become hubs for “green” shipbuilding by 2030 and secure a fully green-powered domestic fleet by 2050.

To stay competitive amid this global shift, Mr. Giang proposed a series of measures for Vietnam, including a long-term strategic roadmap for its shipbuilding industry to ensure sustainable growth.

In terms of financial solutions, the VMA suggested adding shipbuilding enterprises to the priority list for industrial support incentives, offering tax exemptions and reductions, providing preferential loans, and establishing a fund for technological innovation and infrastructure development.

According to Mr. Sivert Skårn, General Director of Vard Vung Tau, one of the most prominent foreign shipbuilders in Vietnam, the global shipbuilding industry is increasingly focusing on developing and adopting new technological solutions that are environmentally-friendly, enhance sustainability, and utilize clean fuel. The Norwegian shipbuilding group has already mastered these technologies and is ready to implement them at its production facility in Vietnam.

 

"We have just completed an expansion of our shipyard in Vietnam, driven by our belief in the future of the country’s shipbuilding industry and its strong export potential."

 Mr. SIVERT SKÅRN, General       Director of Vard Vietnam

However, he added that adopting these advanced technologies and techniques requires government coordination and policy support, along with investment incentives to attract foreign shipbuilders to introduce these innovations in Vietnam.

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-Việt An

Their investment focusing on infrastructure, petrochemical, biotechnology and new materials.

Leaders of major FDI enterprises in southern Ba Ria-Vung Tau province have revealed plans to increase investment in Vietnam in various areas, during a meeting with Prime Minister Pham Minh Chinh on March 20.

Their investment will focus on infrastructure, petrochemical, biotechnology and new materials.

A leader of Ho Tram Project Company Ltd, a subsidiary of the Asian Coast Development (Canada) Ltd. (ACDL), informed that the company has collaborated with Ba Ria-Vung Tau to develop a proposal for the construction of an expressway connecting Long Thanh International Airport in the neighboring province of Dong Nai to the Ho Tram Urban Area in Xuyen Moc district of Ba Ria-Vung Tau province. The proposed 40km-long expressway is estimated to cost around VND17 trillion ($665.1 million). With this project, the company plans to invest an additional $1.8 billion into the Ho Tram area.

A representative from the Long Son Petrochemical Complex project, invested by Thailand’s SCG Group, said the group plans to invest an additional $400 million to expand the project, bringing its total investment capital to nearly $6 billion.

Meanwhile, Hyosung Vina Co., Ltd., a subsidiary of the Republic of Korea’s Hyosung Group, has invested a total of approximately $4.6 billion and plans to pour an additional $1.5 billion into the fields of biotechnology and carbon fiber in Vietnam. 

 

 

-Minh Huy

Two bridges of the $151 million project expected to open to traffic before April 30.

Authorities of southern Ba Ria-Vung Tau province have instructed investor and contractors of the 991B Road project connecting National Highway 51 and the downstream Cai Mep Port to accelerate construction work to open to traffic part of the project before April 30 this year.

The project, with investment capital of over VND3.9 trillion ($151 million) from State and provincial budgets, is a major traffic route facilitating the transport of cargo to and from the Cai Mep-Thi Vai port complex.

It consists of two main contract packages that build a 9.7-km road and some bridges, including an overpass across the Highway No.51.

The package No.36 building two bridges has been complete and is expected to open to traffic before April 30.

Meanwhile, the remaining package No.37 building the road, one bridge and the overpass is under construction. The package is scheduled for completion in June this year.

The construction of the project started in May, 2018 and was slated for completion in June last year. However, the project faced delay due to the Covid-19, shortage of construction materials and difficulties relating to site clearance.

 

-Hoài Niệm

The initiative aims to evaluate factors related to green carbon credits, focusing on the quantitative calculation of carbon footprints and the impact of forests on climate change.

The Mekong Delta province of Ca Mau has initiated a project called the "Feasibility Assessment for Designing a Proposal to Advocate for Green Carbon Credits in Ca Mau Province in 2024-2025".

The initiative aims to evaluate factors related to green carbon credits, focusing on the quantitative calculation of carbon footprints and the impact of forests on climate change. The findings will pave the way for solutions to mitigate impacts, manage carbon risks, identify areas for improvement, enhance efficiency, and reduce costs through lower energy consumption.

The project also seeks to encourage businesses and local communities to actively participate in carbon emission reduction efforts. By promoting greenhouse gas mitigation actions, the project aims to strengthen the roles and responsibilities of stakeholders in combating climate change.

A specific goal of the initiative is to assess the feasibility of creating an advocacy document for a green carbon credit project targeting coastal communities in three communes: Tam Giang, Tam Giang Dong, and Lam Hai in Nam Can district. Local authorities and experts will collaborate to design proposals for content and models that align with regulations and standards for green carbon credit projects.

The program is funded by Save the Children Japan through Save the Children International in Vietnam (SCI). With a total budget of over VND1.7 billion (nearly $66,500), the project will run from its approval date on February 20 to September 2025.

-Anh Khuê

This line would facilitate the transport of agricultural products and other goods, contributing to the socio-economic development of the Central Highlands region.

The Central Highland province of Dak Nong has proposed to a working delegation from the National Assembly (NA) the promotion of investment in a railway line connecting the Central Highlands region, according to a report from Radio the Voice of Vietnam.

The locality also called for the inclusion of the Dak Nong - Lam Dong - Binh Thuan railway line in the national planning to support socio-economic development.

On March 19, the NA's Committee for Science, Technology, and Environment conducted a survey in Dak Nong province to review the draft Law on Railways (amended).

During the meeting, Mr. Le Trong Yen, Standing Vice Chairman of the Provincial People's Committee, emphasized the province’s significant bauxite reserves.

He noted that numerous businesses have applied to invest in bauxite mining and processing, representing substantial registered capital. To unlock this potential, Dak Nong has proposed investments in a railway line connecting the Central Highlands region as a breakthrough solution.

Specifically, the locality recommended prioritizing the construction of the Dak Nong - Chon Thanh (Binh Phuoc) railway line, which would connect with the Trans-Asian Railway to Thi Vai Port. This railway would support the transportation of alumina, refined aluminum, and post-aluminum products.

The province also proposed studying the inclusion of the Dak Nong - Lam Dong - Binh Thuan railway line in the national railway plan. This line would facilitate the transport of agricultural products and other goods, contributing to the socio-economic development of the region.

In 2024, the NA approved the investment policy for the Gia Nghia (Dak Nong) - Chon Thanh (Binh Phuoc)  expressway project.

-Phạm Long

The selling prices of SJC-branded gold bars plummeting to below the VND100 million ($3,885) per tael mark on March 21.

Gold prices in the domestic market reversed to plummet on March 21 after beating the VND100 million ($3,885) per tael mark.

SJC-branded gold bars were sold for between VND98.6 million ($3,830) and VNDVND99.8 million ($3,877) per tael, down from VND600,000 ($23.3) to VND1.2 million ($46.6) per tael compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

On March 20, the selling price of SJC-branded gold bars offered by the Saigon Jewelry and Gem Stone Co. (SJC) jumped to a historic record high of VND100.4 million ($3,900) per tael.

In the global market, the gold prices started the downward trend after a very sharp rally over the past weeks, dropping by 0.62% to $3,031.9 per ounce on March 21.

At this level, gold prices in Vietnam stand at around VND3.67 million ($142) a tael higher than the global price.

 

-Phương Linh