Over 23 banks have cut the rates following PM's directions.

More than 23 banks have cut deposit interest rates by 0.1-1 percentage points in response to the Prime Minister’s direction to lower rates to help achieve the Government’s 8% growth target in 2025, according to the State Bank of Vietnam (SBV).

Among them, the BVBank has reduced deposit rates by 0.1-0.4 percentage points for terms of 6-60 months, while the MSB and Saigon Bank cut deposit rates by 0.2 percentage point for terms of 13-36 months.

Kien Long Bank has slashed the rates for online deposits by 0.4-1 percentage points for terms of 1-60 months.

Earlier, on February 24, Prime Minister Pham Minh Chinh signed a Dispatch, requiring the SBV to enhance measures to reduce interest rates.

On February 25, the SBV held a meeting with banks to discuss measures to lower the interest rates to support the economy following the PM’s directions.

 

 

-Kỳ Phong

CPI and core inflation were both within set limits in February and the first two months of the new year.

Following the Lunar New Year, or Tet, holiday, rising prices for various goods pushed up February’s CPI amid ongoing efforts to balance inflation control with the push for higher economic growth.

The latest report from the General Statistics Office (GSO) shows that the CPI increase was primarily driven by supply shortages leading to higher pork prices, as well as rising costs for dining out, rental housing, and transportation services due to stronger consumer demand. As a result, the CPI rose 0.34 per cent against January and 2.91 per cent against February 2024. The CPI also rose in the first two months of 2025, by 3.27 per cent year-on-year.

Rising costs in key sectors

The CPI’s 0.34 per cent month-on-month increase in February included higher prices across nine groups of goods and services, while two groups posted price declines.

The transportation sector experienced the highest increase, of 0.63 per cent, contributing 0.06 percentage points to overall CPI growth. This was largely driven by heightened travel demand during the Lunar New Year holiday. Fuel prices, meanwhile, climbed 0.61 per cent due to domestic price adjustments.

Housing, electricity, water, fuel, and construction materials saw a 0.55 per cent rise, contributing 0.1 percentage points to the overall increase. Rental prices grew 0.8 per cent, as a large number of workers returned to cities for employment after the Lunar New Year and students resumed their studies, driving up demand for rental housing.

Additionally, high real estate prices prompted many landlords to raise rents to reflect property values. Maintenance material costs increased 0.09 per cent, driven by higher cement and steel prices, which followed rising input costs such as coal, steel billets, electricity, and labor. Household electricity prices rose by 0.38 per cent, while water prices went up 0.26 per cent due to increased consumption. Meanwhile, gas prices climbed by 0.56 per cent after a domestic price adjustment on February 1.

Food and dining services rose 0.43 per cent, contributing 0.14 percentage points to overall CPI growth. Meanwhile, the healthcare and medical services group increased 0.31 per cent, with medical service prices rising 0.36 per cent. Additionally, the humid weather in northern Vietnam led to a surge in respiratory illnesses and flu cases, driving up demand for pain and fever relievers, respiratory medications, vitamins, and supplements.

Other groups also posted price increases, including miscellaneous goods and services, up 0.18 per cent, culture, entertainment, and tourism, up 0.17 per cent, beverages and tobacco, up 0.12 per cent, household appliances and equipment, up 0.05 per cent, and education, which saw a slight rise of 0.02 per cent.

Measures for stability

According to the GSO, core inflation in February rose 0.3 per cent against January and 2.87 per cent year-on-year. The first two months of 2025 saw core inflation increase 2.97 per cent compared to the same period last year; lower than the overall CPI of 3.27 per cent. This discrepancy is primarily due to the exclusion of key price-driving factors such as food, electricity, and healthcare services from core inflation calculations.

To maintain the 2025 inflation target of under 4.5 per cent, set by the National Assembly, Deputy Prime Minister Ho Duc Phoc, Head of the Price Steering Committee, emphasized proactive market monitoring. During a meeting in February, he called for closer observation of domestic and global supply and demand trends, particularly for strategic and essential goods, to develop flexible response strategies. A key priority is ensuring supply chain stability, especially for fuel and electricity, to prevent disruptions.

For goods managed by the State, relevant ministries have been instructed to implement price adjustments in a market-driven manner while maintaining strict oversight. Additionally, efforts will continue to strengthen production, distribution, and consumption links to create a seamless supply chain. Coordinated monetary and fiscal policies will be pursued to sustain economic growth, alongside intensified market inspections to prevent shortages and price surges.

Domestic market remains a key growth driver

According to the GSO, the total retail sales of goods and consumer service revenue in February are estimated to have increased by 9.4 per cent year-on-year and 9.4 per cent in the first two months. This is a positive sign, reflecting the continued strong recovery of domestic consumption.

The Ministry of Industry and Trade (MoIT) has assessed that these figures indicate stable growth momentum in the domestic market, which plays a crucial role in supporting the economy amid global market fluctuations. The government has set a target of 12 per cent growth in retail sales and consumer revenue for 2025. With a 9.4 per cent increase in the first two months, average monthly growth of at least 12.2 per cent will be required for the remainder of the year to meet this goal.

Several factors support the target: the stable growth trends in the retail market over recent years, the expanding market scale and purchasing power, and the government’s strong leadership and proactive coordination between ministries and local authorities to boost consumption. Various demand stimulus programs and e-commerce development initiatives have diversified distribution channels and improved customer accessibility. Moreover, a stable macro-economic environment and reasonable interest rates provide favorable conditions for consumption and investment.

However, challenges remain. Uncertainties in global trade policies could impact supply chains and commodity prices. Ensuring a stable supply of goods is crucial, especially amid potential fluctuations in transportation costs and raw material prices. Additionally, rising consumer expectations for product and service quality require businesses to continuously innovate and enhance competitiveness.

Nevertheless, with the positive growth trends seen from the start of the year, the government’s flexible policy measures, and businesses’ adaptability to market dynamics, the 12 per cent growth target for 2025 is entirely feasible.

To support this goal, MoIT will continue coordinating with ministries, localities, and the business community to implement comprehensive measures that stimulate consumption and support production. Key initiatives include boosting demand through promotional campaigns, enhancing the “Vietnamese people prioritize Vietnamese goods” program, and ensuring stable supply chains, particularly for essential goods. Strengthening supply-demand connectivity and market stability will also be prioritized.

Furthermore, the Ministry will work with local authorities to develop supply-demand balancing strategies, particularly during peak periods, to prevent shortages and price surges. It will also coordinate with other ministries on price management, particularly for essential goods such as fuel, food, and construction materials, to maintain macro-economic stability.

 

-Vũ Khuê

Businesses are advised to collaborate closely with Vietnamese quarantine agencies to standardize inspection and certification procedures.

The Vietnam Trade Office in Sweden has announced that the European Union (EU) is introducing stricter food safety and sustainability regulations to reduce environmental impact and ensure the quality of imported products.

One key requirement is compliance with the EU's Maximum Residue Levels (MRLs) for pesticides. All products to be imported to the EU must be free from chemicals that are banned within the EU. Additionally, most fresh agricultural imports must be accompanied by a phytosanitary certificate, verifying that the products are free from harmful organisms.

The Vietnam Trade Office in Sweden highlighted that some Nordic markets, such as Sweden, Denmark, and Norway, are renowned for their  stringent quality standards for agricultural products. While this presents challenges for Vietnamese exporters, it also offers substantial opportunities to cater to a highly demanding and lucrative market.

Nordic supermarkets often impose their own standards, which are even more rigorous than EU regulations. As a result, Vietnamese exporters must ensure strict compliance with chemical residue limits and address the unique requirements of Nordic importers.

To meet these demands, businesses are advised to collaborate closely with Vietnamese quarantine agencies to standardize inspection and certification procedures. Implementing measures to eliminate the risk of harmful organisms is also critical. Moreover, exporters should be prepared for a high frequency of inspections in this market.

-Vũ Khuê

The price reaching over VND100 million ($3,889) per tael.

The selling price of gold ring in the domestic market skyrocketed to a new historic peak at over VND100 million ($3,889) per tael on March 19 as global bullion values surpassed the $3,000-per-ounce level for the first time ever.

The price increased by VND1.6 million ($62.2) per tael compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

Meanwhile, the SJC-branded gold bars were sold at VND99.4 million ($3,866) per tael, jumping by VND1.2 million ($46.6) per tael against the previous day.

In the global market, the gold prices rose by 0.14% compared to the previous day, hitting $3,035.9 per ounce.  

At this level, gold prices in Vietnam are around VND4.33 million ($168) a tael higher than global price.

The global gold prices surged nearly 16% since the early year and the ANZ bank forecasted that the gold price is likely to increase to a new record high of $3,100 per ounce in the next three months and $3,200 per ounce in the next six months.

 

-

The province has requested the inclusion of the project in the national list of public investment projects for the 2026-2030 period.

The People's Committee of the central province of Quang Binh  has  submitted a proposal to the Ministry of Construction, advocating for the upgrade and expansion of two key sections of the Ho Chi Minh Highway that traverse the province.

As part of the proposal, the province has requested the inclusion of the project in the national list of public investment projects for the 2026-2030 period.

The Provincial People's Committee highlighted the pressing need for this project, citing the rapidly increasing traffic volume along these road sections. This surge has accelerated infrastructure wear and tear, making the upgrade essential to ensure traffic safety and accommodate the growing transportation demand.

The proposed project is estimated to require an investment capital of approximately VND 2,900 billion ($113.5 million). 

-Gia Huy

The country’s foreign trade reached an all-time high of $786.29 billion in 2024, up 15.4% year-on-year.

Vietnam is forecast to rank among the world’s 30 fastest-growing economies in both trade-growth speed and absolute volume increase by 2030, according to a forecast by German logistics provider DHL, the Vietnam News Agency quoted the Business Times as reporting.

The Business Times cited the DHL’s latest report as saying that Southeast Asian countries are set for accelerated trade growth over the next five years, with Vietnam, Indonesia and the Philippines expected to rank among the world’s 30 fastest-growing economies in both trade-growth speed and absolute volume increase by 2030.

Vietnam’s trade volume is forecast to grow at a compound annual rate of 6.5% from 2024 to 2029, up from 6.2% in the 2019-2024 period.

The country’s foreign trade reached an all-time high of $786.29 billion in 2024, up 15.4% year-on-year.

 

 

-Vân Nguyễn

At an event on March 18, representatives of Nordic nations shared their expertise in leveraging digital transformation for public governance to better serve businesses and citizens.

The Ho Chi Minh National Academy of Politics, in collaboration with the embassies of four Nordic countries — Sweden, Denmark, Finland, and Norway — held the 8th annual Nordic International Scientific Conference in Hanoi on March 18.

This year’s event focused on “Advancing Leadership in Public Administration: Innovation, Digitalisation, and Effective Governance – Nordic Experiences and Policy Implications for Vietnam”.

At the conference,  representatives from the Nordic nations shared their expertise in leveraging digital transformation for public governance to better serve businesses and citizens while fostering rapid, sustainable economic and social development.

Prime examples of public governance in the digital age

As Vietnam aspires to achieve high-income status by 2045, administrative reform, innovation, and digital transformation in public governance are seen as essential pillars for progress.

Associate Professor Duong Trung Y, Vice president of the Ho Chi Minh National Academy of Politics, highlighted experiences from Nordic countries, which are global pioneers in transparency, efficiency, and sustainability in public governance.

“Nordic nations' leadership and governance models, which emphasize innovation, digital transformation, and efficiency for sustainable societal development, offer valuable lessons for Vietnam. This is especially relevant as Vietnam implements Resolution 57-NQ/TW of the Politburo to drive breakthrough national development in this new era,” he stated.

Nordic countries have long been recognized for highly adaptive and effective public governance models that foster strong societal trust.

For example, Finland has gained global recognition for its decentralized governance approach, which encourages innovation and prioritizes citizen-centric services. This model has streamlined interactions between the government and the public.

“By prioritizing decentralization and fostering a culture of innovation, Finland has built a flexible and efficient public administration system that delivers tangible benefits to its citizens,” said H.E. Keijo Norvanto, Finland’s Ambassador to Vietnam.

Similarly, Denmark has led the global digital governance landscape for over 25 years, pioneering initiatives such as automated tax declarations and digitized administrative processes. Denmark has completely eliminated paper-based communication between the government and citizens.

“In a rapidly changing world, effective governance must be built on adaptability, innovation, and trust,” emphasized H.E. Nicolai Prytz, Denmark’s Ambassador to Vietnam.

As for Vietnam, according to Mr. Do Tien Thinh, Deputy Director of the National Innovation Center (NIC), several technologies have already been applied in Vietnam’s public administration. An increasing number of officials and civil servants are also integrating artificial intelligence (AI) tools into their daily work, demonstrating the strong momentum of digital transformation in the public sector.

Accordingly, Mr. Thinh stated that thanks to the government’s effort  in digital transformation, many services for Vietnamese citizens and businesses, especially its private economic sector, can now be conducted electronically and without delay.

He stressed that the implementation of public services in the digital environment has helped the government save millions of paper-based documents, significantly reducing resource waste, budget expenditures, and labor efforts.

A model to improve governance efficiency 

Beyond digital transformation, experts stressed that Vietnam must adopt a suitable governance model to optimize public service efficiency and minimize resource wastage.

Associate professor Le Van Chien noted that Vietnam’s administrative system currently consists of 63 centrally-run cities and provinces, over 700 districts, and 10,035 communes, undergoing adjustments every 20 years. Historically, Vietnam’s governance was highly centralized, with most decisions controlled by the central government. However, decentralization has gradually increased since the Doi Moi period.

“The current administrative structure remains cumbersome and does not effectively support economic growth. Streamlining governance will be crucial for Vietnam’s goal of becoming a developed country by 2045”, Associate professor Chien stated.

Swedish Ambassador in Vietnam Johan Ndisi at the event. Source: Embassy of Denmark in Vietnam.

While Vietnam is committed to a comprehensive government restructuring, he noted that clear implementation steps have yet to be outlined as the country is following a ‘build-as-you-go’ approach.

Amid Vietnam’s ongoing administrative reforms, Nordic representatives shared the advantages of decentralized governance models combined with digital transformation.

According to Mr. Anders Windinge, Chief Consultant for KL Local Government Denmark, the country has enshrined decentralization of the government in its constitution since 1849. Over 150 years, this model has undergone multiple reforms while maintaining high effectiveness.

“Decentralization brings the government closer to the people. Citizens have a single local contact point for government services, ensuring that no one is left behind. Policy implementation also improves when decisions are made at the local level” Mr. Windinge emphasized.

Under this system, policy execution is delegated to local governments, making them responsible for effective implementation while granting them the political authority to develop localized solutions. Moreover, each function transferred from the central to local levels comes with a corresponding budget, ensuring sufficient resources for efficient operations.

“Statistics show that Denmark has the world’s highest degree of government decentralization, and based on our experience, this has proven to be the right approach”, Mr. Windinge affirmed.

Sweden, another Nordic leader in governance, has developed a highly inclusive and innovation-driven public administration system that integrates digital transformation and cross-sector collaboration.

“Effective governance must be inclusive, innovative, and citizen-centric. In today’s era, decentralization must go hand-in-hand with digital transformation to maximize efficiency,” said H.E. Johan Ndisi, Sweden’s Ambassador to Vietnam. Sweden has already automated 99.7 per cent of its public administration processes.

"Governance is most effective when it is inclusive, innovative, and citizen-focused", explained the Ambassador Johan Ndisi.

"Our decentralized model, coupled with a commitment to digital transformation, gender equality, and work-life balance, illustrates how leadership grounded in collaboration and adaptability can drive profound change. Sharing these lessons empowers us all in our collective efforts to enhance public administration on a global scale," he added.

Though highlighting the country’s achievement in digitalization of its public sector, Mr. Windinge also noted that this 25-year journey was not without challenges, particularly in catering to both elderly and younger demographics.

“In digital transformation, cybersecurity is crucial, as is simplifying bureaucratic processes. By 2025, Denmark will be almost fully digitalized, with a strong focus on secure digitalization and legal frameworks to support this evolution,” he stated.

Denmark's and other Nordic countries's experience underscores that digital transformation and decentralization not only enhance public service efficiency but also strengthen institutional trust and citizen engagement. Digital tools facilitate better data sharing, informed decision-making, and effective solutions to societal challenges, ensuring long-term sustainable development.

-Việt An

The northern province currently hosts 11 FDI projects from US investors, with a total disbursed investment capital of $270 million.

Recently, Hai Duong Provincial Party Secretary Tran Duc Thang hosted a meeting with US Ambassador to Vietnam Marc E. Knapper, during the latter's recent working trip in the northern province, which currently hosts 11 FDI projects from US investors, with a total disbursed investment capital of $270 million.

These enterprises have successfully implemented their business strategies and plans while demonstrating a high level of responsibility in complying with legal regulations and engaging in community activities, Mr. Thang remarked, adding that Ford Vietnam is a one of the standout US enterprises in the province.

Mr. Thang also noted that the province has a favorable geographical location. In recent years, the provincial government has actively promoted administrative reforms, creating favorable conditions and providing timely support to resolve difficulties and obstacles for the business community in general and FDI enterprises in particular,  including US companies, thus ensuring their sustainable development.

Hai Duong province possesses many the necessary conditions for investment, including clean land, well-connected transportation infrastructure, a skilled workforce, stable electricity and water supplies, and ensured social security and order. The province always welcomes investors, especially US businesses, to explore investment opportunities, particularly in high-tech industries, Mr. Thang said.

Ambassador Marc E. Knapper affirmed his commitment to further deepening Vietnam and US relations and continuing to pay attention to Hai Duong province both now and in the future.

The US Ambassador also stated that he would continue encouraging U.S. businesses to explore investment opportunities in the province. He noted that US enterprises are particularly interested in localities with strong investment ecosystems, including supportive investment policies, an abundant and skilled labor force, and well-developed infrastructure connectivity.

-Gia Huy

A group of expat founders in Vietnam proposed sustainable solutions for the FB and hospitality sectors.

At a recent event designed to showcase innovative approaches to sustainability in the hospitality and FB sectors called Green Transition Gathering - Sustainable Solutions Hospitality Industry Vietnam, and organised in Ho Chi Minh City by Green Transition: Hub in collaboration with VOX MUSIC AGENCY Vietnam, experts and industry leaders sought ways to explore sustainable practices aimed at driving success in the country's FB and hospitality sectors.

Discussions at the event therefore focused on innovative solutions such as sustainable event management, water conservation, energy efficiency, and responsible food sourcing, with a standout idea being the transformation of plastic waste into high-end furniture, showcasing how sustainability can be both impactful and locally applicable in these industries.

The event was also endorsed by AmCham Vietnam HCMC Danang, the Canadian Chamber of Commerce Vietnam, CCI France Vietnam - CCIFV, the ESG Task Force (CCIFV), Chamber of Commerce and Industry Portugal-Vietnam (CCIPV), and Central and Eastern European Chamber of Commerce in Vietnam (CEEC).

BRIDGING THE GAP: FROM THEORY TO PRACTICE

At the event, experts "redefined" sustainability, emphasizing that it is not just a theoretical or measurable concept but a principle embedded in every aspect of daily life. They also highlighted that, with a right strategy, sustainability can bring significant business benefits.

Mr. Nuno Ribeiro, an academic from RMIT University, referred to  challenges to implementing sustainability, particularly within the FB sector. While the concept may seem straightforward in theory, he stressed that achieving sustainability is often more complex than expected, requiring ongoing adjustments and innovation.

Mr. Bao Nguyen, a representative from Green Transition, emphasized that sustainability is not only a moral responsibility but also a cost-effective strategy that can improve service quality. He introduced a concept of "quick wins," where small, impactful changes can drive sustainability. These science-based solutions are measurable and actionable, allowing businesses to effectively track their progress and results, according to Mr. Bao Nguyen.

Project founders shared practical case studies on how to implement sustainable practices, bridging the gap between theory and real-world application.

Arturo Martinez, the founder of PAPS, presented their initiative of transforming plastic waste into high-end furniture, which he described as a circular economy model. He explained how PAPS collects plastic waste and ensures its products meet safety and regulatory standards by working with certified suppliers and using eco-friendly processes, such as converting plastic into pellets with minimal carbon emissions.

Mr. Frank Podage, Water Solution Southeast Asia (WSS), discussed his company's innovative wastewater management project at Mango Bay, Phu Quoc. WSS introduced a nature-based solution—constructed wetlands—tailored for urban hospitality settings, especially in regions with limited trained staff or energy resources. Although the system demands significant space, it offers an effective, low-maintenance solution for sustainable wastewater management.

In terms of waste management, a representative from Korai Beer project shared how they use ocean-bound and landfill waste to create new products. He also emphasized the importance of utilizing energy-efficient processes and minimizing carbon footprints during production.

CHALLENGES AND SOLUTIONS IN VIETNAM

The founders also addressed challenges in sustainably producing goods in Vietnam.

First, there are financial constraints and a lack of funding. For example, the higher costs of sustainable animal feed present a significant barrier. To overcome this, Antoine (Korai Beer project) and Youssef (Cure Pickle) emphasized local sourcing as a way to reduce environmental impact and cut costs, while also strengthening Vietnam's FB ecosystem.

Second, there is the challenge of shifting mindsets, particularly when it comes to converting waste into useful products. Arturo stressed the importance of designing products that are not only environmentally friendly but also appealing to consumers.

Third, local awareness remains a key issue. One solution discussed was economies of scale. The project founders are working to include more farmers in their programs, gradually helping them transition to more sustainable practices. However, this shift takes time. Farmers need to move away from industrial-oriented methods and adopt more natural processes, which can be supported through the right technology. The benefits for farmers include higher-value products that can be sold at a premium.

Education plays a key role in driving these changes. By demonstrating the potential benefits of sustainability, such as improved product quality and profitability, businesses can help local farmers and communities adopt new practices.

Despite these challenges, sustainable practices offer tangible benefits for businesses, the environment, and local communities. The success of these projects marks an important step toward a more sustainable future for Vietnam's FB and hospitality sectors.

-Như Quỳnh

The project will be implemented over a 50-year period, with construction scheduled to be completed within 24 months.

Outdoor Gear Vietnam Co., Ltd. hosted a groundbreaking ceremony for its Sports Equipment Manufacturing Plant project in Nga Truong commune, Nga Son district, Thanh Hoa province, on March 17.

The project, with a total investment capital of nearly VND868.5 billion (approximately $34 million), is expected to boost the socio-economic development of the central province and create thousands of new jobs.

The project spans over 10.3 ha and is designed to create stable employment for approximately 5,000 workers upon completion, with a focus on recruiting local labor.

The project will be implemented over a 50-year period, with construction scheduled to be completed within 24 months from the date of land handover.

Outdoor Gear Vietnam Co., Ltd. is a subsidiary of the Outdoor Gear Singapore Group, a renowned global manufacturer of sports and travel equipment.

-Thiên Anh

This initiative lays the foundation for Vietnam to achieve its goal of becoming a developed, high-income country by 2045.

Under the Government's Resolution No 52/NQ-CP,  issued on March 18, the National Land Use Master Plan for 2021-2030, with a vision toward 2050, will be revised.

The revised plan aims to allocate land resources reasonably, efficiently, and sustainably, supporting continuous double-digit growth while serving national defense and security, environmental protection, and climate change adaptation. This initiative lays the foundation for Vietnam to achieve its goal of becoming a developed, high-income country by 2045.

The plan prioritizes sustainable development, emphasizing the establishment of modern infrastructure, industrial growth, service expansion, and urban development. It also ensures the preservation of sufficient rice-growing areas for national food security and advocates the flexible conversion of low-efficiency land. Furthermore, it commits to maintaining forested areas, natural ecosystems, and disaster prevention efforts.

In addition, the plan will drive land reclamation, restoration, and sea encroachment to make unused land viable, combat land degradation, and rehabilitate damaged areas in harmony with environmental protection and sustainability.

The adjustment process involves comprehensive research and data collection, analyzing natural resources, external factors, and current land use patterns across various industries and fields. It will assess land quality, potential, pollution levels, and degradation on a national and regional scale.

-Nhĩ Anh

The price of SJC-branded gold bars hitting VND98.2 million ($3,822) per tael on March 18.

Gold prices in the domestic market keep soaring  as global rates remain on an upwards trajectory.

The Saigon Jewelry and Germ Stone Co. (SJC) and the State-owned commercial banks - Vietinbank - sold SJC-branded gold bars at VND98.2 million ($3,822) per tael on March 18, up by VND2.1 million ($81.7) per tael compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

Meanwhile, the three State-owned commercial banks - Agribank, BIDV, and Vietcombank - offered gold bars at a lower price at VND96.9 million ($3,771) per tael, rising by VND800,000 ($31.1) per tael against the previous day.

The selling price of gold rings surged by between VND1.8 million ($70.7)- VND2.1 million ($81.7) per tael on March 18 compared to the previous day, hitting from VND98.1 million ($3,818) to VND99.1 million ($3,857) per tael, depending on each company.

Prices in the global market skyrocketed March 18 to $3,028 an ounce, or nearly VND94.83 million per tael.

At this level, gold prices in Vietnam stand at around VND3.27 million ($127.2) a tael higher than the global price.

 

 

 

-Phương Linh

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-Vietnam Economic Times - VnEconomy

The organization's $1.5 billion project in the northern province of Hung Yen aims to deliver a hi-end urban, eco-tourism, sport, and premium golf complex.

Prime Minister Pham Minh Chinh urged increased US investments in Vietnam during a reception in Hanoi on March 18 for Charles James Boyd Bowman, General Director of the Trump Organisation’s Vietnam project, according to a report from the Vietnam News Agency.

The $1.5 billion project in the northern province of Hung Yen aims to deliver a hi-end urban, eco-tourism, sport, and premium golf complex, meeting the Trump Organisation’s top standards. The proposed investor is a joint venture between Hung Yen Investment and Development Group JSC and IDG Capital, representing the Trump Organisation.

PM Chinh called on the Trump Organisation to position Vietnam as a business base and expand its investment footprint to other localities in the country as well as potential areas in which the company excels and Vietnam prioritises. He asked the corporation to strengthen partnerships with Vietnamese enterprises, helping them engage in its global supply chain and business ecosystem.

Bowman expressed appreciation for the strong support from Vietnamese ministries, sectors, and Hung Yen province. He highlighted the company’s close collaboration with local authorities to fast-track its project, targeting completion by March 2027, to serve APEC 2027, with the ambition of developing Vietnam’s premier golf course and a world-class golfing destination.

-Vân Nguyễn

British Consul General in Ho Chi Minh City Alexandra Smith highlighted key upcoming events on the occasion of Standing Deputy Prime Minister Nguyen Hoa Binh’s UK visit from March 16-19.

Standing Deputy Prime Minister Nguyen Hoa Binh visited the United Kingdom from March 16-19, aiming to strengthen economic ties and explore new opportunities for further cooperation  between the two countries.

During his trip, the Deputy Prime Minister met with key British leaders, including government officials, ministry representatives, local authorities, and financial organizations. Discussions between the two sides focused on development of Vietnam’s international financial centers (IFCs) and strategies to attract more investment into the country.

In a statement, British Consul General in Ho Chi Minh City Alexandra Smith emphasized the importance of multiple events held during Mr. Binh's visit that would further deepen business collaboration between the two countries. She noted the UK government’s commitment to supporting Vietnam’s growth in both the technology and finance sectors.

The UK’s Southeast Asia Tech Week will be launched in Ho Chi Minh City at the end of March, bringing a delegation of leading UK technology companies to explore new opportunities in Vietnam’s rapidly growing digital and tech sectors. This event promises to be a key platform for both nations to forge new connections and foster deeper collaboration in these vital industries.

Moreover, in June 2025, the UK will host London Tech Week, providing an additional opportunity for Vietnamese tech and fintech companies to engage with UK businesses. This event will also mark the 15th anniversary of the UK-Vietnam Strategic Partnership (2010 - 2025). Looking ahead, the UK is committed to enhancing its partnership with Vietnam, with several significant events planned in the near future.

A key highlight of the UK-SEA Tech Week 2025 will be an Open Banking workshop, which is particularly timely given Vietnam’s recent developments in this area. The State Bank of Vietnam recently released a draft circular on Open Banking, setting the stage for further progress in the sector. The workshop, featuring experts from the UK such as Henk van Hulle, CEO of Open Banking Ltd, Jamie Leach, Open Data Strategist at Raidiam, and Huw Davies, CEO and Co-Founder of Ozone API, will offer valuable insights into the evolving global open banking landscape.

“They will present and discuss the current global open banking landscape, including technical implementations, regulatory frameworks, and governance, as well as how developments and technologies can be used to advance open banking in Vietnam,” Ms. Alexandra Smith said.

These initiatives reflect the UK’s ongoing commitment to fostering deeper collaboration with Vietnam, particularly in the technology and finance sectors. The visit comes on the heels of the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in December 2024, a milestone that has prompted a series of workshops aimed at helping businesses in both countries understand and leverage the opportunities presented by the agreement.

-Như Quỳnh

From April 1, the national flag carrier's flights on Hanoi-Manila route will increase from three per week to daily, while its flights on HCMC - Manila route adjusted to 4 per week.

The national flag carrier Vietnam Airlines will increase the frequency of its flights between Vietnam and the Philippines from April 1 this year to meet growing travel and trade demand between the two countries.

Accordingly, its flights on the Hanoi-Manila route will be increased from 3 per week to daily.

Meanwhile, its flights on the Ho Chi Minh City-Manila route will be adjusted to four flights per week on Mondays, Thursdays, Fridays and Sundays.

As a result, Vietnam Airlines will operate 11 direct flights per week connecting the two countries.

In 2024, the number of Philippines tourists to Vietnam rose 73.6% year-on-year, while there were nearly 60,000 Vietnamese holidaymakers visited the Philippines.

 

 

 

-Tuấn Khang

A delegation of U.S. companies from many fields is on a 3-day visit to Vietnam.

From March 18 to 20, 2025, the US-ASEAN Business Council (USABC) spearheaded a delegation comprising of representatives from 64 U.S. companies, including senior executives of 58 leading groups, to Hanoi for its 2025 Vietnam Business Mission, followed by the Health Life Sciences Industry Mission from March 20 to 21.

This marked the largest U.S. business delegation to Vietnam to date.

According to the Council’s President and CEO Ted Osius, who is former U.S. Ambassador to Vietnam, the record number of US businesses visiting Vietnam this time reflects the strong confidence of US businesses in Vietnam's future; the commitment of businesses to expand trade and investment in Vietnam. The US is currently the second largest trading partner of Vietnam, and Vietnam is the 8th largest partner of the US. Therefore, the opportunities ahead of businesses from the two countries are still very large.

"Amidst the uncertainty of global trade, including the risk of tariffs on Vietnam, the U.S. business community remains steadfast and committed to promoting a stable, mutually beneficial trade relationship," Mr. Osius affirmed. "We recognize the challenges ahead, but also recognize the enormous potential for deeper cooperation between our two countries."

At a press conference held in Hanoi on this occasion, Ms. Mary Tarnowka, Strategic Advisor of Pacifico Energy Group, shared the group's investment plans  in Vietnam in the coming time. 

Pacifico Group expressed its excitement at the opportunity to expand its energy investments in Vietnam to support Vietnam’s ambitious growth and sustainable development goals, while promoting turbine exports from the United States. Pacifico wishes to become a reliable partner and companion of Vietnam, especially in the field of offshore wind power. "Pacifico hopes to be able to pioneer cooperation to exploit this huge natural resource, while enhancing energy security and paving the way for future investors," Ms. Tarnowka said.

Ms. Nguyen Thu Thao, Director of Public Policy, in charge of Vietnam, Laos, and Cambodia of Meta in Singapore also shared Meta's upcoming plans and affirmed its commitment to long-term investment in Vietnam.

Especially, in 2025, Meta plans to promote cooperation with partners to create the largest database ever to ensure training, fine-tuning, and evaluation of AI models and big data so that in the future, AI tools deployed in the Vietnamese market will be in Vietnamese and serve Vietnamese consumers.

The businesses that join the delegation include Apple, Intel, Nike and Coca-Cola, along with businesses looking to expand investment such as Boeing, Amazon and Bell Textron.

Also present were Excelerate Energy, a supplier of floating liquefied natural gas stations, and GE Vernova, both of which have just signed preliminary agreements with Vietnamese partners to supply gas equipment. Boeing, the world’s leading commercial aircraft manufacturer with a deal for up to 250 aircraft for two Vietnamese airlines, and major U.S. financial groups such as JPMorgan, Visa, Mastercard and Warburg Pincus also joined the delegation.

This year’s mission held particular significance as the US and Vietnam celebrate celebrate 30 years since the normalization of relations. Over the past three decades, the partnership has grown from a developing trade relationship to a thriving, multi-dimensional collaboration spanning diplomacy, security, education, and—most notably—business and
investment.

The mission brings together a diverse group of industry leaders eager to support Vietnam’s transition to a new phase of economic growth, including companies from sectors where the U.S. plays a global leadership role, such as information technology, financial services, logistics, manufacturing, energy, aerospace and defense, healthcare, consumer products, and food and agriculture.

Throughout the three-day mission, the USABC delegation will hold key meetings with senior leaders from both the Communist Party of Vietnam (CPV) and the Government.

“As Vietnam embarks on a new chapter with a fundamentally reformed and streamlined political system, the U.S. business community looks forward to the positive impact of these changes and to exploring the opportunities ahead,” said Mr. Osius. “I am honored to lead the largest-ever delegation of American executives on this mission. Their contributions have been instrumental in strengthening and expanding the US-Vietnam economic relationship. The mission provided an opportunity for industry to demonstrate long-term commitment, emphasize the breadth of U.S. business interests in Vietnam, and reinforce the importance of close cooperation between the Vietnamese government and U.S. businesses.”

-Ngoc Lan

Key export products including garments and textiles, cement, benzene and sulfur.

Central Thanh Hoa province posted export revenue of $1.461 billion in the first quarter of the year, surging 17.2% compared to the same period last year, according to the provincial Department of Industry and Trade.

Many key export products recorded strong growth year-on-year, including garments and textiles 17.9%, cement 16.1%, benzene 58.9% and sulfur 88%.

With rapid development of industrial parks, particularly the Nghi Son Economic Zone, Thanh Hoa has become one of localities with highest export turnover in the north-central region in recent years.

Meanwhile, the province’s import value stood at $2.575 billion, up 1% year-on-year.

The local market also recorded impressive growth with the total retail sales of consumer goods and products, reaching VND50 trillion ($1.94 billion), soaring 9% year-on-year.

 

-Thiên Anh

Hue City plans to establish and expand 20 industrial clusters by 2030 to meet growing land demand for investment.

The People's Committee of the centrally-run city of Hue has approved the investment policy for the "Technical Infrastructure Investment for the Huong Phu Industrial Cluster" project, located in Phu Loc district.

The project will cover an area of 16.35ha, with a total investment capital exceeding VND176 billion (nearly $6.9 million). The construction and operational timeline is set at a maximum of 42 months.

The initiative aims to develop, operate, and manage technical infrastructure, paving the way for investors and contributing to the locality's socio-economic growth.

As part of its broader development strategy, the central city plans to establish and expand 20 industrial clusters by 2030 to meet growing land demand for investment, support the relocation of production facilities, ensure efficient land use, and enhance feasibility. A key objective is to equip 100% of these industrial clusters with centralized wastewater treatment systems that comply with legal standards.

The city estimates that the total capital required for the construction of technical infrastructure for industrial clusters during the 2021-2030 period will exceed VND6 trillion ($234.6 million).

-Nguyễn Thuấn

The delegation represented sectors where the US holds global leadership, including information technology, financial services, logistics, manufacturing, energy, aerospace and defense, among others.

Ted Osius, President and CEO of the US-ASEAN Business Council (USABC), and former US Ambassador to Vietnam, has raised concerns about the potential for new tariffs on Vietnamese goods under the administration of President Donald Trump.

Speaking at a press conference during a US business delegation's visit to Vietnam from March 18-20, Mr. Osius emphasized that the risk of tariffs remains a genuine issue, as Vietnam currently holds the third-largest trade surplus with the United States globally.

Mr. Osius urged the Vietnamese Government to increase imports from the US, specifically highlighting liquefied natural gas (LNG), civil and military aircraft, and agricultural products such as soybeans, fruits, and value-added nuts.

He also recommended that Vietnam tighten controls on goods transiting through the country to prevent fraudulent origin labeling and called for enhanced cooperation with US agencies in trade-related activities.

The USABC-organized visit coincided with Vietnam’s re-evaluation of taxes on US goods, including LNG and high-tech products, and followed President Trump’s threats to impose additional tariffs on trade partners.

The delegation, comprising senior executives from 58 leading American companies, aimed to support Vietnam’s transition to a new phase of economic growth.

The delegation represented sectors where the US holds global leadership, including information technology, financial services, logistics, manufacturing, energy, aerospace and defense, healthcare, consumer products, food, and agriculture. Notable participants included major corporations such as Apple, Intel, Coca-Cola, Nike, Boeing, Amazon, Exxon Mobil, JPMorgan, Visa, and Meta.

-Anh Nhi