The regulation specifies the allowable pollution parameter values for industrial wastewater discharged into receiving water bodies.

As from September 1, 2025, all industrial facilities discharging industrial wastewater will be required to ensure that pollution parameters remain within the permissible limits set by the newly issued national technical standard on industrial wastewater—QCVN 40:2025/BTNMT.

The new regulation has been issued under Circular No.06/2025/TT-BTNMT,  dated February 28, 2025, of the Ministry of National Resources and Environment (now the Ministry of Agriculture and Environment)   

The regulation specifies the allowable pollution parameter values for industrial wastewater discharged into receiving water bodies. However, it does not apply to water extracted from offshore oil and gas facilities, livestock wastewater, domestic wastewater, or urban and centralized residential wastewater.

The regulation applies to State agencies, organizations, and individuals involved in the discharge of industrial wastewater into receiving water bodies. It provides a clear framework to ensure compliance and accountability in wastewater management.

Facilities already in operation, or investment projects that have obtained approval for their environmental impact assessment report, environmental permit, or environmental registration from a competent state agency prior to September 1, 2025, can continue to follow the existing national technical regulations on wastewater until December 31, 2031. This includes compliance with local regulations, such as local technical standards on wastewater, based on the specific type of production, business, or service.

Additionally, if competent State agencies issue regulations that change the functional use of a receiving water body, affected parties must comply with the updated requirements according to the roadmap set by the agency.

-Tùng Dương

The Party leader encouraged the Indonesian businesses to expand investment in Vietnam.

As part of his State visit to Indonesia, Party General Secretary To Lam held meetings with leaders of several major Indonesian businesses in Jakarta on March 9, fostering stronger economic ties between the two nations.

During his meeting with Mr. Budiarsa Sastrawinata, Managing Director of Ciputra Group, the Vietnamese Party leader commended the group’s business and investment activities in Vietnam, particularly in the real estate sector.

Mr. Lam encouraged Ciputra to continue investing in green and smart city initiatives, as well as tourism, through large-scale projects set to launch in Vietnam in the near future.

In response, Mr. Sastrawinata reaffirmed Ciputra’s commitment to real estate ventures, including housing and office building projects in Hanoi, while exploring new investment opportunities in the country.

The Party leader also engaged in discussions with Mr. Patrick Walujo, CEO of PT GoTo Gojek Tokopedia Tbk (GoTo), and Mr. Garibaldi Thohir, President Director of PT Alamtri Resources.

He welcomed their interest in expanding investments in Vietnam, reiterating the country’s dedication to creating an optimal business environment for foreign enterprises.

Emphasizing Vietnam’s priorities in renewable energy, high-tech agriculture, digital transformation, innovation, and international financial centre development, Mr. Lam called on GoTo to leverage its expertise to explore partnerships in digital finance, banking, and infrastructure.

For PT Alamtri Resources, Mr. Lam advocated for greater collaboration in environmentally friendly mining and the adoption of modern, safe technologies. He also encouraged the group to invest in renewable energy, green transition projects, seaport logistics, and the electric vehicle and battery sectors, alongside smart transportation infrastructure.

Both GoTo and PT Alamtri Resources expressed their intention to reengage with the Vietnamese market, hoping for continued support from Vietnam’s government in their future endeavors.

In a separate meeting with Mr. Oey Alfred, Director of Sungai Budi Group, the Vietnamese Party leader praised the group’s fruitful partnerships with Vietnamese businesses, particularly in agriculture.

He noted successes in the production of coconut and sugarcane products, while also highlighting the vast potential for further collaboration in fisheries and Halal food industries.

Mr. Alfred shared his aspiration for expanded agricultural cooperation and acknowledged the effective application of scientific advancements in hi-tech farming by Sungai Budi, particularly in collaboration with TTC AgriS Group. This partnership has yielded significant achievements in agricultural value chains, especially in the sugarcane and coconut sectors in Indonesia.

-Tiến Dũng

Vietnam’s e-commerce market continued to see impressive growth in 2024 and 2025 holds great promise given the country ranks among the fastest-growing markets globally.

Vietnam’s e-commerce market closed 2024 with many positive indicators, laying a solid foundation and providing strong momentum to enter 2025 with great expectations.

According to the Vietnam e-Commerce and Digital Economy Agency at the Ministry of Industry and Trade, the country’s e-commerce market continued to maintain impressive annual growth last year, of 18-25 per cent. The market size surpassed $25 billion, up 20 per cent compared to 2023, accounting for approximately 9 per cent of the country’s total retail sales of goods and consumer service revenue.

Strong foundation

The e-commerce market accounted for two-thirds of Vietnam’s digital economy in 2024. With a steady growth rate, the country’s e-commerce and digital economy continue to rank among the top 10 fastest-growing e-commerce markets in the world. This not only drives the development of the digital economy but also plays a key role in leading the digital transformation of businesses.

As the overall e-commerce market continued to grow, several major e-commerce platforms operating in Vietnam also posted remarkable progress. Based on a report released by Metric, the total sales of the five major e-commerce platforms in Vietnam - Shopee, Lazada, TikTok Shop, Tiki, and Sendo - stood at VND318.9 trillion ($12.54 billion), up 37.4 per cent compared to 2023.

Building on last year’s strong momentum, Vietnam’s e-commerce market is expected to maintain a positive trajectory in 2025, driven by sustained consumer demand and digital transformation efforts across industries. Notably, Metric’s report forecast that total sales on these five major e-commerce platforms will reach VND387.5 trillion ($15.23 billion), with 4.2 million products sold, reflecting year-on-year increases of 22 per cent and 23 per cent, respectively.

This steady growth highlights the market’s resilience and potential, reinforcing Vietnam’s position as one of the fastest-growing e-commerce markets globally. Moreover, businesses have been increasingly strengthening their presence on e-commerce platforms at the beginning of the new year, further contributing to market growth.

Mr. Pham Cong Hoang, CEO of Novaon Commerce, believes that one positive trend this year will be the growing emphasis of Vietnamese businesses on cross-border commerce. “Through e-commerce platforms, many ‘Made in Vietnam’ products have successfully entered international markets, including some of the world’s most developed economies, recording impressive double-digit growth,” he said. “This underscores the vast potential and global competitiveness of Vietnamese enterprises.”

Total sales of the 5 major e-commerce platforms in Vietnam 2024

Catching up with various models

Many e-commerce platforms in Vietnam are also increasingly expanding into new business models to boost their sales revenue. Mr. Hoang said e-commerce trends and brand building on many e-commerce platforms will undergo significant shifts this year, with greater convergence between differing activities.

For instance, TikTok, which previously focused primarily on viral content and branding, has now evolved into TikTok Shop, enabling direct sales. Similarly, Shopee, which initially concentrated solely on sales, has begun expanding into content, creativity, and entertainment-related areas. “With this convergence, e-commerce platforms will not only serve as marketplaces but also as integrated spaces where users can search, explore, evaluate, and make purchases,” he explained.

To accelerate the development of the e-commerce market, businesses must enhance the efficiency of their operations through e-commerce platforms. Brand building is expected to go beyond just selling products in 2025; it will require a seamless integration of brand messaging and delivering real value to customers. For this reason, Mr. Hoang suggested that businesses adopt fast and direct implementation strategies while ensuring they provide the best possible value to customers and build a sustainable brand identity through e-commerce channels.

Additionally, across all activities on e-commerce platforms, from product research and marketing execution to sales, promotional campaigns, and product selection, Mr. Hoang emphasized that businesses should rely on data-driven decision-making to ensure accuracy and efficiency. Learning from data not only helps businesses gain deeper insights into the market and customer behavior but also provides a foundation for integrating technology into the e-commerce sales journey.

By effectively leveraging data and technology, businesses can gain a significant competitive advantage, particularly in two key areas: reducing operational costs and optimizing profit margins. Mr. Hoang sees these as crucial factors that enable businesses to sustain their growth and thrive in the highly-competitive e-commerce landscape. “At the same time, businesses must thoroughly understand the operational mechanisms of each sales channel on e-commerce platforms,” he added. “This knowledge will allow them to optimize their business processes, delivering the best possible value to both their customers and themselves.”

Total sales of the 5 major e-commerce platforms in Vietnam, 2022-2025

For a sustainable market

Along with the strong growth the e-commerce market has recorded in recent times, the development of sustainable e-commerce is also considered key. Sustainable e-commerce not only focuses on revenue growth but also aims at long-term sustainability throughout the entire supply chain, from production and transportation to consumption and waste management.

Therefore, to boost sustainable e-commerce in 2025 and beyond, Ms. Le Hoang Oanh, Director General of the Vietnam e-Commerce and Digital Economy Agency, said it will continue researching, formulating, and finalizing a specialized legal framework for the e-commerce market during 2025. This is one of the top priorities to create a stable, transparent, and favorable legal environment for businesses, thereby fostering strong and sustainable growth in the sector.

In addition to policy improvements, Vietnam is also committed to developing e-commerce in a green and sustainable manner, minimizing environmental impact. This not only enhances corporate social responsibility but also aligns with the growing consumer preference for environmentally-friendly products and services. “To achieve this goal, Vietnam will continue to strengthen collaboration among stakeholders, including industry associations, businesses, and regulatory agencies,” Ms. Oanh noted.

At the same time, increased coordination between ministries, sectors, and localities will be prioritized to promote regional connectivity in e-commerce, particularly in supporting the digital transformation of traditional markets. This effort aims to help small and household businesses access and effectively utilize digital platforms.

Beyond traditional e-commerce models, the shift towards green logistics is emerging as a crucial factor in the industry’s development. This is not only an inexorable trend but also a pathway for businesses to enhance their competitiveness in the globalized market. “To successfully transition to green logistics, businesses need to adopt long-term strategies that focus on sustainable benefits while ensuring their competitiveness in international markets and meeting the increasingly stringent demands of consumers,” Ms. Oanh emphasized.

Moreover, the adoption of modern technologies, particularly AI, will play an essential role in the advancement of e-commerce. AI enhances operational efficiency, improves the customer experience, and helps businesses analyze data, predict consumer trends, and personalize services. “Vietnam will proactively promote AI applications in the management and operation of e-commerce platforms, creating a smarter, more efficient, and highly-competitive digital ecosystem,” she added.

-Phương Hoa

The event aims to celebrate the Vietnamese coffee brand and further the vision of establishing Buon Ma Thuot as the "World Coffee City".

As part of the 9th Buon Ma Thuot Coffee Festival in 2025, the Coffee and OCOP Products Exhibition Fair officially opened in Dak Lak province on March 9, according to a report from Radio the Voice of Vietnam.

The event aims to celebrate the Vietnamese coffee brand and further the vision of establishing Buon Ma Thuot as the "World Coffee City".

The fair features 435 booths from 180 domestic and international enterprises, offering a platform to showcase signature coffee and OCOP (One Commune, One Product) items.

It provides businesses with opportunities to exhibit products, explore partnerships, and connect with trade networks. Additionally, it serves as a hub for businesses and farmers to gain insights into market trends, as well as updates on new techniques and technologies in production.

According to Mr. Truong Cong Thai, Vice Chairman of the Dak Lak Provincial People's Committee, the 2025 Coffee and OCOP Products Exhibition Fair exemplifies the province's dedication to elevating Vietnamese coffee to the global stage.

"This is one of the largest fairs we have ever held, gathering all domestic businesses involved in coffee cultivation, processing, and export, along with participation from international enterprises. We are optimistic that following this Coffee Fair and the 9th Coffee Festival in 2025, we will secure numerous contracts with partners around the world," shared Mr. Thai.

-Phạm Long

The 19.7 km line including eleven elevated and three underground.

The Metro line No.1 in Ho Chi Minh City was officially inaugurated on March 9, after over two months of commercial operations.

This is the first metro line in operation not only in the southern city, but also in Vietnam.

The 19.7 km line runs from Ben Thanh Market in district 1 to Suoi Tien Theme Park in Thu Duc city, marking the first of eight planned routes for Ho Chi Minh City's mass transit system.

It has 14 stations, including eleven elevated and three underground.

This project symbolizes the robust cooperation and relationship between Vietnam and Japan.

Speaking at the ceremony,  Mr. Nguyen Van Duoc, Chairman of the HCM City People’s Committee, highlighted the significance of the project for the southern metropolis’s socio-economic development, saying that it is a prioritized economic cooperation project between Vietnam and Japan.

According to Japanese Deputy Minister of Foreign Affairs Miyaji Takuma, Metro Line No. 1 is Vietnam's first subway line and the largest ODA project funded by Japan in Vietnam. It is expected to help reduce traffic congestion and air pollution in HCM City.

 

-Thanh Thủy

It is estimated that total retail sales of goods and service revenue in the first two months of 2025 increased by 15.9% compared to the same period in 2024.

The Ho Chi Minh City Department of Industry and Trade has announced that, based on consumer demand, purchasing power, and supply performance in 2024, the volume  of goods allocated for market stabilization in 2025 will increase by 4-6%.

This supply is expected to account for 21-32% of the market share during regular months and 24-41% of market demand during the Tet (Lunar New Year) holiday, ensuring stable pricing and availability.

The department also reported that businesses in the city have been focusing on ramping up production during the first quarter of 2025 to fulfill existing orders and achieve new production and business goals. Early indicators suggest a strong recovery, with many promising signs of economic growth.

According to the department, the explosive growth of e-commerce, cashless transactions, and flexible sales policies—featuring attractive incentives, diverse product designs, and a wide range of goods—has significantly boosted consumer purchasing power in the first months of the year.

It is estimated that total retail sales of goods and service revenue in the first two months of 2025 in the southern city increased by 15.9% compared to the same period in 2024.

To achieve the ambitious target of growing gross regional domestic product (GRDP) by over 10%, Mr. Bui Ta Hoang Vu, Director of the Ho Chi Minh City Department of Industry and Trade, outlined a comprehensive 2025 work program. This program includes initiatives to support businesses in stabilizing operations and accelerating production and business activities, fostering economic stability and growth.

-Thi Nguyễn

Mr. Tan Wee Hsien, Chief Executive Officer, CapitaLand Development Vietnam International, tells VET about FDI in Vietnam’s real estate sector and why CapitaLand is focused on expanding its presence in the country after celebrating its 30th anniversary.

CapitaLand celebrated its 30th anniversary last year, marking a significant milestone. As you steer the company into its next chapter, what do you consider to be CapitaLand Development (CLD)’s key strengths that differentiate it in the market? How will you apply insights gained from international markets to enhance local projects in the years ahead?

Over the past three decades, we have established ourselves as a developer of choice in the real estate sector, delivering over 18,000 homes across 18 projects. Our strong brand presence is reflected in the robust sales performance of Lumi Hanoi, which sold out across three phases, The Senique Hanoi, with 96 per cent sales, and Sycamore in Binh Duong, which continues to experience high demand. These results affirm our ability to meet evolving market needs and reinforce our reputation for excellence.

As we continue to evolve, we remain grounded in the insights and practices learned from our international markets, tailoring them to local projects. By seamlessly integrating CapitaLand’s diverse ecosystem across sectors like lodging, retail, and residential, we create sustainable, integrated communities. Sustainability is central to our strategy, with a focus on reducing embodied carbon, contributing to global efforts, and future-proofing our projects in line with our 2030 Sustainability Master Plan. Our commitment to innovation drives us to harness technology and AI to enhance our products and processes, ensuring we stay competitive. Above all, safety remains our top priority, and we will continue to uphold the highest standards to protect all those involved in our projects.

With a clear focus on customers, quality, sustainability, and innovation in every market we operate in, I am confident that CLD Vietnam is poised to lead the way in shaping the future of real estate development, creating lasting value for the communities we serve.

With Vietnam’s residential market poised for growth due to strong economic fundamentals, a young population, and rapid urbanization, how does CLD plan to invest in this sub-sector? Specifically, will you be targeting the growing demand for mid-range housing?

Over the next five years, our key objective is to build scale and strengthen our residential footprint around the country, expanding our portfolio from 18,000 units to 30,000 by 2029. This ambitious growth plan underscores our commitment to becoming a leading player in Vietnam’s evolving real estate market, with a focus on meeting the growing demand in both the mid to high-end segments, where we have established deep expertise and a strong track record over the past three decades.

As part of this strategy, we are open to undertake larger residential projects. Sycamore and Lumi Hanoi serve as initial showcases, setting the stage for our future growth in this market segment. These developments not only reflect our capability to manage large-scale ventures but also reinforce our commitment to delivering high-quality, integrated communities that meet the diverse needs of the market.

Our investment plan leverages Vietnam’s impressive economic potential, with 8 per cent GDP growth projected for 2025 and urbanization reaching 45 per cent, by accelerating development in key urban centers. Geographically, we will continue to expand our presence in key growth regions, with a particular emphasis on the Greater Ho Chi Minh City area, including Binh Duong, Dong Nai, and Long An provinces, as well as the Greater Hanoi area, with targeted developments in Hung Yen and Bac Ninh provinces as well as Hai Phong city. These strategic locations align with the dynamic growth and urbanization trends, ensuring that we remain well-positioned to serve the rising demand for both mid-range and premium residential offerings.

Vietnam’s real estate sector is receiving substantial FDI, with figures reaching $1.84 billion in 2024, for a 60 per cent increase against 2023. How do you interpret these trends, and what impact do you believe they will have on the market?

The rise in FDI reflects Vietnam’s strategic role in the global supply chain, its pro-business environment, and rapid economic growth, consolidating its position as a key manufacturing hub. This influx brings opportunities such as job creation, improved infrastructure, and a stronger business ecosystem. However, it also presents challenges, including rising land prices and increased competition for resources, particularly in the residential market, where demand for high-quality housing is growing among both expatriates and an increasingly affluent local population.

CLD sees these emerging trends as a strategic opportunity and remains committed to expanding our presence in Vietnam. Our approach will center on medium and large-scale, well-planned residential master plan developments in mid to high-end segments, helping shape Vietnam’s evolving urban landscape while meeting the needs of both local and international communities. We will also explore attractive commercial and industrial opportunities to capitalize on the macro trends taking place in Vietnam.

FDI disbursement in the real estate sector declined in opening month of 2025. While seasonal factors like the Lunar New Year, or Tet, holiday may have played a role, do you see this as an early warning sign of a potential real estate bubble, or is there another explanation?

While the real estate market has experienced fluctuations in recent months, it is important to note that the underlying fundamentals remain strong. The current market is driven by genuine demand, including a growing middle class, increasing foreign business activity, and a dynamic urban environment. The Law on Land 2024 and the Law on Housing 2024 are designed to enhance market transparency and ensure financial prudence, which will mitigate the risk of speculative behavior and help maintain long-term market stability.

We are optimistic that, despite short-term variations, the market is well-positioned for sustainable growth. With ongoing regulatory reforms, Vietnam is poised for a rebound in FDI disbursement, continuing to attract robust investment. This will support the ongoing development of high-quality, integrated, and sustainable projects, contributing to the nation’s long-term success in the real estate sector.

Looking ahead, what are your key priorities for CLD? Are there any specific projects or strategic initiatives that you’d like to highlight?

CLD is focused on expanding our presence in Vietnam, a key market in our regional strategy. Given our proven track record, we target to more than double our capital allocation in the country over the next five years to expand our business significantly.

In addition to residential projects, we are also exploring opportunities in the commercial sector. With multinational corporations expanding and the demand for premium office space rising, we see significant potential in this field. Moreover, as Vietnam continues to strengthen its role as a manufacturing hub under the “China Plus One” strategy, we are exploring opportunities in industrial and logistics sectors to support the growing trade and supply chain networks.

Beyond business growth, we remain dedicated to social impact. Recently, the CapitaLand Hope Foundation (CHF), the philanthropic arm of the CapitaLand Group, launched the CapitaLand Community Resilience Initiative, a S$3 million ($2.23 million) regional grant aimed at empowering vulnerable children and youth in China, India, Singapore, and Vietnam. This initiative, in collaboration with social investment network builder AVPN, is a significant milestone for CHF’s 20th anniversary and reflects our ongoing commitment to building resilient communities. Non-profit organizations with sustainable projects focused on education, health, and well-being are invited to submit applications before April 25, 2025. The third edition of “Together We Step: Step For Kindness” will take place in the fourth quarter of this year, aiming to rally the community to support youth and children in need.

-

The project has estimated investment capital of VND47.89 trillion ($1.86 billion).

Construction for Ho Chi Minh City's second metro line, the Ben Thanh – Tham Luong route, is scheduled to commence by the end of the year, according to the city’s Urban Railway Management Office.

The Metro Line No. 2 spans over 11 km, with 9.2 km running underground, while the remaining sections include elevated tracks and the lead-in to the Tham Luong depot in District 12. The project features nine underground stations and one elevated station.

Once completed, the metro line will connect with the Metro Line No. 1 (Ben Thanh – Suoi Tien) at Ben Thanh Station in District 1 and integrate with future transit lines, facilitating east-west mobility through the city's center.

The project has estimated total investment capital of VND47.89 trillion ($1.86 billion).

Construction is expected for completion in 5-7 years.

 

-Quỳnh Nguyễn

The rankings primarily based on the compound annual growth rate in terms of revenue, total assets, equity, pre-tax profit, and reputation.

The top 500 fastest-growing enterprises in Vietnam (FAST500) were announced last week by the Vietnam Report Joint Stock Company (Vietnam Report), according to a report from  the Vietnam News Agency.

The rankings are primarily based on the compound annual growth rate (CAGR) in terms of revenue, total assets, equity, pre-tax profit, and reputation.

Ngan Tin Group, FPT Long Chau, South Asia Informatics Technology JSC, Stellapharm Joint Venture Company Limited, and Taseco Group JSC are among the companies featured in the FAST500 rankings.

On this occasion, Vietnam Report conducted a survey among companies to present an overall picture of Vietnamese businesses, the most important factors contributing to their growth over the past year, and their operation directions in the time ahead.

Through the survey, Vietnam Report also noted optimistic sentiment in 2025, as most companies expect Vietnam to achieve impressive economic growth.

 

-Vân Nguyễn

The move aimed at contributing to fulfilling the 2025 growth target of 8%.

Prime Minister Pham Minh Chinh required relevant ministries, agencies and localities to boost international cooperation, particularly in economic, trade and investment, to contribute to fulfilling the growth target at least of 8% in 2025.

While chairing a Government meeting in Hanoi on March 8 to assess the regional and global economic situations, address challenges and obstacles, and set out tasks and solutions,  the  PM  stressed the need to further strengthen economic, trade, and investment cooperation with other countries, particularly major partners such as China, the US, Europe, Japan, and the Republic of Korea.

It is also necessary to effectively take advantage of the free trade agreements to which Vietnam is a signatory, while promoting negotiations and signing of new ones and investment protection agreements to diversify markets and supply chains, the PM noted.

He also requested the review of tax policies for possible amendment if necessary and foster international cooperation in all areas, especially high technology, innovation, digital transformation and other emerging fronts.

The PM tasked ministries, agencies and localities to create favorable conditions for foreign investors to expand supply chain in Vietnam and help the country to further engage in the supply chain of foreign enterprises.

 

-Tiến Dũng

Tourism, industrial production and trade remaining key growth drivers.

Central Da Nang city recorded impressive economic growth in the first two months of the year, particularly in tourism, industrial production and trade, according to the city’s Statistics Office.

The Index of Industrial Production (IIP) rose 10.5% compared to the same period last year.

Trade and services were robust with total retail sales of consumer products and services exceeding VND24 trillion ($934 million), surging 21.9% year-on-year.

Tourism remains a bright spot in the city’s economic picture in recent years as well as a key growth driver. The city welcomed nearly 1.6 million tourists in the first two months, up 18.3% year-on-year. Of the total, there were 835,700 international visitors, skyrocketing 48.3% year-on-year. Total revenue of accommodation and catering services is estimated at more than VND4.77 trillion ($185 million), a year-on-year increase of 19.8%.

 

-Ngô Anh Văn

The figure marking a year-on-year increase of 28.8%.

Northern Ninh Binh province posted positive economic growth in the first two months of the year with export and import revenue exceeding $561.8 million, marking a year-on-year increase of 28.8%, according to the provincial People’s Committee.

Meanwhile, the province’s industrial production value reached more than VND16.26 trillion ($633 million), up 10.9% year-on-year.

Total retail sales of consumer goods amounted to $17.7 trillion ($689 million), surging 21.9% compared to the same period last year.

In the two-month period, the province welcomed 3.2 million tourists, soaring 18.5% year-on-year. Total tourism revenue was estimated at more than VND3.1 trillion ($12.1 million), jumping 31.4% year-on-year.

The province has set a GRDP growth target of 12% this year. The GRDP per capita is expected at VND105 million ($4,000) per year.

The provincial authorities granted investment certificates for four new projects in the two-month period.

-Nguyễn Thuấn

The southern city to activate new resources by integrating technology into development to drive economic breakthroughs.

"In all activities of the business community today, the need to resolve administrative procedures remains a problem affecting business operations," said Mr. Nguyen Ngoc Hoa, Chairman of the Ho Chi Minh City Business Association (HUBA).

Mr. Hoa made this statement during a meeting on March 6 between the Standing Board of the Ho Chi Minh City People's Committee and representatives of domestic and foreign businesses operating in the southern city.

The meeting was held to gather opinions, address obstacles, and identify solutions to stimulate economic development.

"Ho Chi Minh City is the 'locomotive.' We cannot continue with the old mindset but must adopt a serving mindset, viewing businesses as resources and drivers for development. The government should act as a midwife—supporting, assisting, guiding, and creating a level playing field," emphasized Mr. Nguyen Van Duoc, Chairman of the city People's Committee.

Representing the business community, HUBA proposed that the city prioritize improving administrative procedures. HUBA also expressed the desire for dedicated working sessions with various departments and agencies of the city to collaboratively identify and address obstacles, determining which procedures need to be simplified or eliminated.

The HUBA Chairman further recommended that Ho Chi Minh City activate new resources by integrating technology into development to drive economic breakthroughs.

He called for breakthrough policies to attract investment and encourage businesses to adopt and invest in technology. Additionally, he emphasized the need for flexible mechanisms allowing businesses to lease or transfer technology applications. 

From the perspective of foreign businesses, Mr. Travis Mitchell, Executive Director, AmCham Vietnam HCMC, highlighted the need to focus on infrastructure development.

According to him, many businesses have financial potential and are very interested in the City's market, but they are hesitant to invest in due to concerns about transport infrastructure, seaports, airports, and administrative issues.

He also urged the city to establish a clear and efficient communication channel to promptly address difficulties facing businesses during the investment process, fostering a more attractive environment for foreign investment.

-Thanh Thủy

Total investment capital estimated at VND1.87 trillion ($72.8 million).

Northern Ninh Binh province has started the expansion of the Cao Bo-Mai Son Expressway, which is part of the eastern North-South Expressway.

The 15.2-km expressway section will be expanded from four to six lanes.  

The section runs from Yen Bang Commune in Nam Dinh Province to Mai Son Commune in Ninh Binh Province. Its starting point connects with the Cau Gie – Ninh Binh Expressway and the ending point connects with the Mai Son – National Highway No.45.

Once upgraded, the expressway section will be more than 32m wide, allowing for a maximum speed of 100-120 kph.

The project has total investment capital of over VND1.87 trillion ($72.8 million), financed by the central budget.

Construction is expected for completion in 2026.

The project got approval from the Ministry of Transport last July.

The Cao Bo-Mai Son Expressway was put into service in 2022, with four restricted lanes across a width of 17 m.

 

-Vân Nguyễn

Green spaces make up a substantial proportion of the area, reflecting the city's strong commitment to creating a green, clean, and visually appealing living environment.

The People's Committee of central Thanh Hoa province has officially approved a zoning plan at a scale of 1/2000 for Subdivision D - Do River Tourism Urban Area, located in the province's Sam Son City.

Subdivision D spans the wards of Quang Vinh, Quang Chau, Truong Son, Bac Son, Trung Son, and Quang Tien, with a total planned area of approximately 340.3 ha.

The zoning plan aims to transform Subdivision D into a modern, ecological, and tourist-friendly urban area. It will integrate the scenic potential of both sides of the Do River with existing residential areas and a synchronized infrastructure system, enhancing the urban space and boosting the tourism-service economy of the Do River area and nearby Sam Son beach.

By 2040, the population of Subdivision D is projected to grow significantly, reaching approximately 26,360 people, compared to the current population of 2,892.

The land use plan has been carefully allocated, designating 28.5% of the area for residential use, 5.1% for mixed-use land with residential components, and the remainder for public works, services, green spaces, transportation, and water surfaces.

Green spaces make up a substantial proportion of the area, reflecting the city's strong commitment to creating a green, clean, and visually appealing living environment.

-Thiên Anh

The digital platform business will count among the key contributors to Vietnam reaching its sizeable growth targets in the years to come.

Digital transformation and digital applications are now trends within economic development. In particular, the digital platform business is a new business model, developed based on digital technology, data, and appropriate support, improving efficiency and reducing costs. Its development has therefore become a priority of governments around the world, including in Vietnam.

At the “Developing the Platform Business: A Driving Force for Vietnam’s Digital Economic Growth” workshop, held by the Central Institute for Economic Management (CIEM) on February 19 in Hanoi, Dr. Nguyen Thi Minh Thao, Head of the Business Environment and Competitiveness Research Department at CIEM, said many platform businesses have appeared in Vietnam in recent times. “The development of platform businesses will lead to the growth of supply industries, and at the same time this is also an important industry as a source of products and services for the economy,” she added.

Irreversible trend

CIEM research shows that the platform business model has grown strongly over the past decade and deeply penetrated into many industries and fields in Vietnam, especially transportation, retail, healthcare, education, and banking and finance. It contributes approximately 10 per cent of GDP. Specifically, platform businesses in the transportation sector account for 16.8 per cent of the added value of the platform industry, equivalent to 1.7 per cent of the economy’s GDP.

Every $1 billion worth of final products in the platform business industry will stimulate the total output of the entire economy by $2.754 billion. Considering the spillover effects, every $1 billion worth of final products in this industry will contribute more than $1.191 billion in added value to the economy, create 93,734 job opportunities, and increase worker incomes by $732.6 million.

“Thus, the platform business sector not only stimulates added value, income, and employment opportunities for workers in that sector but also stimulates added value, income, and employment opportunities for workers in other sectors of the economy,” Ms. Thao said. “It has created new opportunities and developed in parallel with traditional production and business methods.”

The CIEM report also analyzed specific cases of platform business development, such as Grab in the transportation sector. This is a pioneering model in technology application and has found favor in Vietnam, promoting the growth of the transportation industry as well as other business sectors based on the platform, thereby making a meaningful contribution to Vietnam’s economic development.

In addition, research has found that the rapid development of platforms has created incentives for traditional businesses to innovate their thinking, improve their internal capacity to boost competitiveness, and adapt to new trends. At the same time, the emergence of platform businesses has prompted policy-making agencies to study and quickly complete the legal framework for flexible and timely management while still encouraging creativity in new development trends and new business models, thereby effectively exploiting the benefits from such trends and business models.

Mr. Tran Quoc Khanh, former Deputy Minister of Industry and Trade, said consumers are willing to spend more with the convenience brought by the digital economy and platform businesses. “As consumer demand increases, it will continue to contribute to GDP growth,” he added. “The platform business also creates many job opportunities because it has the ability to connect supply and demand infinitely, without restrictions on customer size, geography, and low marginal costs. It therefore plays an important role in economic development.”

Value and structure of the platform industry

Continued growth

Based on digital technology and data, the platform business has a lot of space to grow because of Vietnam’s rapidly-expanding digital economy and increasing internet penetration.

A report from Google, Temasek, and Bain Company assessed that Vietnam’s digital economy has posted the fastest growth in Southeast Asia for two consecutive years. The Vietnam E-commerce White Book 2023 from the Ministry of Industry and Trade predicted that, in the 2022-2025 period, Vietnam’s internet economy would see the highest growth in the region, of some 31 per cent each year. Vietnam is regularly anticipated to post the strongest digital economy growth in the region.

In addition, its population of more than 100 million people is a large market for nurturing and developing digital technology businesses. According to the Ministry of Information and Communications, there are currently 50,350 digital technology businesses in operation around Vietnam; higher than the target of 48,000 set by the government. Their rapid growth creates a foundation for expanding and developing digital business services, including platform services in the country.

There is a big difference between economic regions in terms of the contribution to added value the platform industry makes. The Red River Delta (including Hanoi) and the southern region (including Ho Chi Minh City) are the two making the largest contributions. “Thus, it is clear that there is much room for the development of the platform industry and platform services in the other economic regions of Vietnam,” Ms. Thao said.

With the solid foundation created over the past decade and with technological advantages, the digital economy in general and the platform business in particular will continue to be key sectors contributing to Vietnam achieving its GDP growth target of 8 per cent this year and double-digit annual growth in subsequent years.

Top 10 digital platforms in Vietnam

For further development

CIEM’s research also highlighted several challenges in developing platform businesses, including mindsets and perceptions within State management that remain conservative regarding new issues; the rapid evolution of platform business models and the digital economy, which has outpaced legal regulations and institutional frameworks; limited digital infrastructure, particularly in data management; and challenges in risk management for platform business activities.

Notably, the research emphasized the difficulties in proposing and establishing a controlled testing institutional framework, or sandbox, in Vietnam.

Ms. Thao pointed out the process of developing sandboxes follows the same complex steps as drafting regular legal documents, making it time-consuming and bureaucratic. Additionally, policy-making agencies remain cautious about the risks of sandboxes, leading to a lack of support for such policies.

Mr. Khanh agreed that the mechanisms and policies to encourage and promote the development of the digital and platform economy have not kept pace with the rapid evolution of these business models.

To create a strong driving force for the development of platform business services and the digital economy, CIEM recommended that the policy and legal system on the digital economy, including e-commerce, should aim to support businesses, reduce administrative procedures, and shorten licensing times for new technology products and services. A regulatory sandbox for new products, services, and business models applying digital technology is among the key solutions. “The establishment of a sandbox requires breaking away from old management mindsets and issuing policy measures in a timely manner to take advantage of technological opportunities,” Ms. Thao said. “The drafting and approval of a sandbox should therefore follow a simplified process instead of the current complicated and time-consuming process.”

-Ngoc Lan

Vietnam is working closely with Japanese partners to determine a new timeline for launching the satellite, ensuring that it can operate stably on orbit.

 LOTUSat-1, Vietnam's first Earth observation satellite utilizing radar technology, has been completed, alongside the ground system at Hoa Lac Hi-Tech Park, which is fully ready to receive data once the satellite is launched into orbit.

According to Assoc. Prof., Dr. Pham Anh Tuan, Director General of the Vietnam National Space Center (VNSC) under the Vietnam Academy of Science and Technology, LOTUSat-1 was originally scheduled for launch in February 2025. However, the launch has been postponed, and a new date has yet to be announced.

The VNSC is working closely with Japanese partners to determine a new timeline, ensuring that the satellite can operate stably on orbit.

Dr. Tuan highlighted that a team of Vietnamese engineers and experts has been sent to Japan to oversee the entire process of designing, assembling, and testing the satellite in a simulated environment, spanning from the launch phase to its operation in space. These efforts are vital for mastering advanced technology, gaining practical experience in large-scale industrial production, and enhancing Vietnam's expertise in this field.

In Vietnam, the ground system for LOTUSat-1 is located at the Hoa Lac Hi-Tech Park in Hanoi. It includes a 9.3-m diameter ground antenna to receive signals, a control center for satellite operations, and a data processing facility. The Vietnam National Space Center has received advanced technology from Japan to ensure the effective operation of this ground system.

-Bạch Dương

At a working session with the Party Central Committee's Commission for Policies and Strategies on March 7, Party General Secretary To Lam highlighted that changes in mindsets and perceptions are essential to transform policies and actions towards the private economic sector.

Chairing a working session with the Party Central Committee's Commission for Policies and Strategies on March 7, Party General Secretary To Lam stressed the need for a clear strategy to develop the private economic sector that is conformable with Vietnam's current economic development level as well as new geo-economic and geopolitical space, ensuring its strong adaptability, resilience and competitiveness, according to the Vietnam News Agency.

He demanded that the strategy must serve as a roadmap for businesses and economic entities to focus their investments and development directions.

He highlighted the need to fundamentally improving infrastructure and human resources to serve the overall development, creating favorable conditions for all enterprises to grow.

The Party Chief stressed that changes in mindsets and perceptions are essential to transform policies and actions towards the private economic sector, adding it is a must to continue eliminating all misconceptions and prejudices about this sector.

The Party leader called for efforts to replace small-scale and fragmented agricultural thinking while encouraging industrial mindsets focused on large-scale operations and startup spirit nationwide, suggesting multiple forms of commendation should be built to honor the private economic sector’s contributions to the national economy.

Defining institutional barriers as critical obstacles to breakthrough growth, he requested rapid improvements in the investment and business environment and the removal of roadblocks for business development. The General Secretary also emphasized the significance of comprehensive and flexible supporting policies for the sector.

Additionally, he called for ensuring equality and fairness, allowing private enterprises access to capital and means of production no less favorable than state-owned enterprises and foreign-invested companies, enabling private businesses to engage in the nation’s key projects, and supporting small- and medium-sized enterprises to quickly grow into large corporations.

Furthermore, it is important to enhance the connectivity between businesses and  sectors to form a sustainable economic cycle, helping consolidate independence and resilience in economic development while ensuring effective economic integration.

He stressed the need to continue renewal as well as enhancing the Party's leadership role, particularly effective settlement of shortcomings in implementing the Party’s resolutions, conclusions and directions.

To advance the country's socio-economic development in the new era, the Party chief urged the Party Central Committee's Commission for Policies and Strategies to uphold its role as the Party’s strategic advisory body, proposing groundbreaking policies and decisions to drive the nation’s rapid and sustainable growth in the coming time.

-Vân Nguyễn

Despite abundant solar energy resources, Southeast Asia lags behind in the rooftop solar power development race, with a penetration rate of just 5%—equivalent to approximately 30 GW of capacity.

Vietnam-based energy tech startup SmartSolar has successfully raised $1.85 million in a seed funding round led by venture capital funds Picus Capital and 2degrees.

Launched less than six months ago, SmartSolar has already achieved an installed capacity of nearly 1 MWp, serving dozens of small and medium-sized enterprise (SME) customers in Vietnam. The company plans to expand its operations across Southeast Asia, capitalizing on the region's untapped potential for rooftop solar power.

Despite abundant solar energy resources, Southeast Asia lags behind in the rooftop solar power development race, with a penetration rate of just 5%—equivalent to approximately 30 GW of capacity. This figure pales in comparison to countries like Germany, which, despite having less sunlight and only one-eighth of Southeast Asia's population, boasts three times the installed capacity and four times the penetration rate.

This significant market gap presents a promising opportunity for companies like SmartSolar to make a breakthrough.

"Many business owners I've spoken with complain about rising electricity bills but don't know how to solve the problem," said Kevin Junker, Founder of SmartSolar and a former McKinsey consultant in Vietnam and Switzerland.

-Hạ Chi

Freight transport estimated at 471.8 million tons in the first two months of the year.

Transportation services in the first two months of the year continued to boom in terms of both passenger and cargo transport, according to the National Statistics Office under the Ministry of Finance. 

The total number of transported passengers was estimated at 912.4 million, up 13.8% compared to the same period last year, including 812.9 million transport by road, 85.5 million by waterway, and 9.5 million by air.

Meanwhile, the volume of transported freight was estimated at 471.8 million tons, increasing 14.5% year-on-year. Of which, 346.3 million tons transported by road, up 15.5%, and 27.2 million tons by sea, up 25.9%.

-Minh Kiệt