The project manufacturing high-precision circuit board.

The People’s Committee of northern Ha Nam province has granted investment certificate for a high-precision circuit board manufacturing plant of Red Board Technology (Vietnam) Co., Ltd.

The plant will cover 98,850 sqm in the Kim Bang I Industrial Park, with a total investment of $110 million.

The facility is expected to become operational by February 2027 with an annual capacity of over 260 million products.

The investment is in line with the province’s goal of attracting projects with modern technology and artificial intelligence (AI) products, according to the provincial authorities.

Ha Nam targets to attract $1 billion of investment capital this year. The province has lured around $500 million so far this year.

 

-Hạ Chi

VIFA EXPO 2025 returns to Ho Chi Minh City, bringing global furniture brands, industry insights, and networking opportunities.

The Vietnam International Furniture and Home Accessories Fair (VIFA EXPO) 2025 is set to take place from March 5–8, 2025, at the Saigon Exhibition Convention Center (SECC) in Ho Chi Minh City. As one of Vietnam’s largest furniture trade events, the expo is expected to welcome over 20,000 visitors, including importers, buyers, and industry professionals from around the world.

This year’s event marks the 16th edition of the Vietnam International Furniture and Home Accessories Fair, a platform that has grown significantly since its launch in 2008. Over the years, it has established itself as a key destination for businesses looking to connect with Vietnam’s expanding furniture and home decor industry.

With an exhibition area covering more than 40,000 sq m, VIFA EXPO 2025 is set to feature over 2,500 booths from more than 650 exhibitors. The event continues to attract strong international participation, with 52 per cent of exhibitors coming from 19 countries and territories, including Denmark, China, Hong Kong (China), Indonesia, Malaysia, Thailand, Korea, Singapore, the United States, Canada, Italy, etc. The remaining 48 per cent consists of Vietnamese companies representing 17 provinces and cities, highlighting the country’s diverse manufacturing base and growing influence in the global furniture supply chain.

An aerial view of the fair

This year’s edition will showcase a wide range of indoor and outdoor furniture, home accessories, and raw materials, with participation from notable brands such as Annda International, Minh Tin - USofa, Your Furn Partner – Part of Wendelbo Group, Trend World Furniture, Far East Foam, Reindeer Furniture, Babakagu, Canadian Wood, Latitude Tree, Paul-Yu, Koda, Woodnet, Scancom, Fine Scandinavian, MFC, PMA, Savimex, Thinh Viet, Lyprodan, Eurofar, Hiep Long, Cattie, Master Pacific, Mega Home, Wood Concept. The exhibition is not just a space for companies to introduce new products but also an opportunity for businesses to explore emerging industry trends and strengthen their position in global markets.

Beyond the exhibition floor, VIFA EXPO 2025 will feature a series of industry-focused discussions and networking sessions. The lineup includes:

• "Global Furniture Outlook 2024 Trends Forecast 2025" (March 5), with experts from CSIL (Italy), Home Living (Japan), and Moebel Markt (Germany).
• "Furniture Industry Moving Towards Net-Zero Market – Chances Challenges" (March 6), focusing on environmental and ESG regulations.
• "Made in Vietnam, Sold on Wayfair" (March 6), a session hosted by Wayfair, a leading US furniture e-commerce platform, in collaboration with Lien Minh Company.

To support international buyers, VIFA EXPO 2025 provides a range of services, including airport support at Tan Son Nhat International Airport, shuttle buses from official hotels to the SECC venue, and factory visit tours in key production hubs such as Ho Chi Minh City, Binh Duong, and Dong Nai. Additionally, business-matching sessions, organized by Amazon Global Selling Vietnam and Lien Minh Company, will help buyers connect directly with exhibitors. VIP buyers may also benefit from complimentary hotel accommodations for two nights and invitations to exclusive networking events, including the VIFA EXPO 2025 Gala Dinner.

The fair hosts a wide range of trading activities

As Vietnam’s furniture industry continues to expand, VIFA EXPO serves as a key platform for businesses to engage with international markets, explore new business opportunities, and stay ahead of industry developments. The event plays a role in strengthening Vietnam’s position as a major furniture manufacturing hub, providing a bridge between local manufacturers and global buyers.

For more details, visit www.vifaexpo.com or contact Lien Minh Company:

• Address: 2/13 Bau Cat 2, Ward 14, Tan Binh District, Ho Chi Minh City
• Phone: +84 28 7306 7887 | Hotline: +84 79999 7657
• Email: info@hawacorp.com.vn
• Website: www.vifafair.com

-Diep Linh

The project spans four provinces: Lao Cai, Yen Bai, Phu Tho, and Vinh Phuc, with the total investment nearly $290 million.

Vietnam Electricity (EVN) and the Electricity Project Management Board 1 on March 3 launched a construction of the Yen Bai section of the 500kV Lao Cai - Vinh Yen power transmission line project in northern Vietnam.

The 500kV Lao Cai - Vinh Yen transmission line project is a key national initiative that has been approved  by the Prime Minister.

It is a double-circuit 500kV transmission line with a total length of 229.5 km, consisting of 468 foundation positions for electricity poles.

The project spans four provinces: Lao Cai, Yen Bai, Phu Tho, and Vinh Phuc, with the starting point at the 500kV Lao Cai substation and the ending point at the 500kV Vinh Yen substation.

The total investment for the project exceeds VND7.41 trillion ($289.5 million), with 80% of the funding arranged from a loan by the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and 20% from EVN's counterpart fund (before tax).

Once operational, the transmission line will release approximately 2,000 MW from hydroelectric power plants in the Northwest region and neighboring provinces to the national power grid, increasing electricity import capacity.

It will also create a strong link between regions within the power system, improve the safety and stability of the national power system, reduce power loss in the transmission grid, and enhance the efficiency of EVN's electricity production and business.

-Huyền Vy

Tourism projected to contribute 13-14% to the country's GDP by 2030.

Under a Prime Ministerial Decision, signed recently by Deputy Prime Minister Le Thanh Long, an action plan to implement the master plan on tourism system for 2021-2030 period with a vision to 2050, has been approved.

The plan identifies specific progress and resources to implement tasks and measures as outlined by the master plan.

Focus will be made on investment in infrastructure for tourism sites, particularly national tourism sties. The plan will encourage the private sector to invest in developing tourism infrastructure, products and services.

Other activities include promoting the building of national tourism brands for special tourism products, improving the quality of tourism human resources as well as boosting tourism promotion activities both inside and outside the country.

Under the master plan on tourism system, the Government targets to attract 25-28 million foreign arrivals by 2025 and 35 million by 2030.

Total tourism revenue is expected at VND1.264 trillion ($49 million) this year and over VND2.6 trillion ($101 million) by 2030. Tourism is projected to directly contribute 8-9% and 13-14% to the country's GDP by 2025 and 2030, respectively.

 

-Minh Huy

The fees being exempted from March 1, 2025 until February 28, 2027.

Under a government decree issued recently, the exemption of registration fees for electric cars (EVs) has been extended from March 1, 2025 to February 28, 2027.

Earlier, the Ministry of Finance had proposed to extend the exemption of the fees through February 28, 2027, instead of February 28 this year as initially scheduled.

The ministry said the registration fee exemption will contribute to developing the market, the EV industry and other auxiliary industries as well as generating jobs for workers.

 

 

 

 

-Thanh Thủy

The SJC-branded gold bars were sold at VND91 million ($3,534) per tale on the day.

Gold prices in the domestic market bounced back on March 3 after falling for three days in a row.

The SJC-branded gold bars were offered to the public at VND91 million ($3,534) per tale on the day, up VND500,000 ($19.4) compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

Meanwhile, the selling prices of gold rings in the domestic market reached VND88.7 million ($3,489) per tael.

In the global market, the gold prices also rose again after a two-day drop. The prices reached $2,865.5 per ounce or VND90.4 million on March 3.

At this level, gold price in Vietnam is higher than the global price around VND1.36 million ($52.8) a tael.

-Phương Linh

At the recent dialogue between PM Pham Minh Chinh and American enterprises, Amcham Chairman hailed Vietnamese Government's willingness to work closely with the U.S. businesses on creating a fair, transparent, predictable, and streamlined regulatory environment that values innovation.

The Government News on March 3 quoted Mr. Eric Johnson, Chairman of the American Chamber of Commerce (AmCham) in Hanoi as appreciating the Vietnamese government's efforts to streamline administrative procedures.

Mr. Johnson made the statement during a dialogue held on March 1 between Prime Minister Pham Minh Chinh and representatives of U.S. businesses in Vietnam.

He hailed the Vietnamese Government's willingness to work closely with the U.S. businesses on creating a fair, transparent, predictable, and streamlined regulatory environment that values innovation.

The representative of the AmCham noted that the U.S. is Vietnam's largest export market and one of the top drivers of investment.

"Our business community shares Vietnam's priorities and is working closely with your ministries on removing bottlenecks in resource mobilization, production, and business, addressing energy development needs and accelerating the transition to clean and renewable energy", Mr. Johnson said.

He vowed to work with Vietnam in ensuring success, affordability, and innovation in the health industry, unlocking the full potential of the digital economy, upgrading from frontier to emerging market status, implementing the use of advanced pricing agreements, upskilling the workforce to meet the needs of a modern economy, promoting sustainable investment and supply chain integration, such as capitalizing for opportunities in the semiconductor sector.

"We believe that President Trump appreciates Vietnam and the benefits that come from being close friends and comprehensive strategic partners", Mr. Johnson added.

He suggested Vietnam take proactive steps to demonstrate a real commitment to addressing the trade imbalance while solving burdens and barriers faced by American companies and investors.

The AmCham representative referred to concerns from the 40 American companies, including recommendations to ensure proposed rules are consistent and synchronized with existing laws and international standards, the need for fair administration of stable tax policies, and the need for faster and simpler work permits and visas for foreign workers and experts.

"We welcome the restructuring of government departments and responsibilities, is designed to promote efficiencies, and AMCHAAM appreciates the General Secretary To Lam's recommendation for government to reduce administrative processing times by at least 30 percent, cut business costs including customs, regulatory compliance, and unofficial costs by at least 30 percent, and to eliminate at least 30 percent of unnecessary business conditions", he highlighted.

Also at the dialogue, Deputy Chief of Mission for the U.S. Mission in Vietnam Courtney Beale said, U.S. companies have a lot to offer Vietnam. U.S. investments create jobs and drive GDP growth, but beyond that they also support their local communities. They treat workers with respect and help build a skilled workforce that can drive future growth.

 

As global leaders in sectors such as artificial intelligence (AI), cloud computing, blockchain, quantum technology, and digital communications, U.S. firms are uniquely positioned to play a role in helping Vietnam meet the innovation and digital transformation goals laid out in Resolution 57, she added.

According to the diplomat, American companies can also contribute to Vietnam's energy security, with vast knowledge and expertise in oil and gas, LNG, nuclear energy, and renewables.

U.S. companies stand ready to assist with a range of Vietnam's other economic goals, including critical minerals development, infrastructure investment, expanding tourism and aviation, and strengthening the healthcare sector.

"As we celebrate the 30th anniversary of U.S.-Vietnam relations this year, we can reflect on all of our trade and investment successes, but we also acknowledge that there is room for improvement. This goal of continuous improvement is also something we aim to achieve as we implement our commitments under the U.S.-Vietnam Comprehensive Strategic Partnership to find new ways of working together to meet our mutual goals", emphasized Ms. Beale.

At the dialogue, leaders of the American business association, and representatives from 38 major corporations and enterprises—including Meta, Polaris, Amkor, Boeing, Warburg Pincus, and GE Verona—shared their assessments and evaluations of the state of economic cooperation with Vietnam in recent times.

Over the past 20 years, the U.S. has been Vietnam's largest export market, while Vietnam has become the U.S.'s seventh-biggest trading partner and the largest partner in ASEAN.

In 2024, bilateral trade reached nearly $150 billion, with Vietnam exporting $137 billion to the U.S. (19 per cent increase compared to 2023) and the U.S. exporting over $13 billion to Vietnam (33 per cent increase).

In terms of investment, as of the end of 2024, U.S. investors poured $11.94 billion in more than 1,400 projects, ranking 11th among countries and territories investing in Vietnam.

-

The Honorable Warren Kaeding, Minister of Trade and Export Development, Government of Saskatchewan, Canada, shares his insights with Vietnam Economic Times / VnEconomy on the potential for cooperation between Vietnam and Saskatchewan, one of Canada’s largest provinces, and highlights how both sides can leverage their respective strengths to enhance collaboration across key sectors.

What makes Vietnam a strategic market for Saskatchewan? What are the key factors driving the growth of bilateral trade cooperation between Vietnam and the province?

Vietnam is a rapidly-growing economy, and we have closely observed its impressive development over the past several years. We believe Saskatchewan can play a valuable role in supporting Vietnam’s continued growth by supplying essential materials crucial to its expanding industries. As an emerging economic powerhouse in Southeast Asia, Vietnam presents significant opportunities for trade, and we are eager to be part of this dynamic market.

One of the key drivers of our bilateral trade cooperation is the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which ensures strong trade relations between our two economies by providing a stable, tariff-free environment; something increasingly vital in today’s global trade landscape. Having such agreements in place strengthens our ability to engage with valuable partners like Vietnam and enhances the mutual economic benefits.

Saskatchewan is well-positioned to contribute to Vietnam’s economic progress, by providing essential commodities and resources that align with the country’s development needs. Through continued collaboration, trade partnerships, and shared economic interests, we aim to build a stronger, long-term relationship that benefits both sides.

Vietnam is one of Canada’s key trade partners in Southeast Asia. What strategies does Saskatchewan have to leverage this strength, expand its market, and increase exports to Vietnam?

We certainly recognize Vietnam’s importance to Saskatchewan’s economy, which is why we have established a trade office in Vietnam. Among our nine international trade offices worldwide, Vietnam holds a particularly significant position. While our initial focus was on agricultural commodities and fertilizer, we see vast potential for expanding trade across various sectors.

Agriculture is a key industry for us. However, Saskatchewan is also rich in critical minerals that play a vital role in global sustainability efforts. These include uranium, potash, gold, diamonds, copper, and helium, all of which present strong opportunities for trade expansion with Vietnam. As industries worldwide transition towards greener and more sustainable practices, we believe our resources can play a crucial role in supporting Vietnam’s economic and environmental goals.

Additionally, there is a growing demand for skilled workers, and we see tremendous potential in strengthening labor mobility between Canada and Vietnam. By fostering closer ties in education and vocational training, we aim to create pathways for skilled labor exchange between our two countries. This will not only support our local industries but also provide Vietnamese workers with opportunities in high-demand sectors. We look forward to strengthening collaboration in education, training, and workforce development to build a globally-competitive workforce that benefits both nations.

How has Saskatchewan developed sustainable agricultural practices, and what lessons can Vietnam learn from its experience?

Agriculture is a cornerstone of Saskatchewan’s economy and remains one of our most significant export sectors, encompassing a wide range of commodities, such as grains, oilseeds, and pulses. Beyond production, we have made substantial investments in agricultural research and innovation to ensure long-term sustainability, improve productivity, and minimize the environmental impact.

One key area we would like to share with Vietnam is our research-driven approach, which has enabled us to develop more efficient and sustainable agricultural practices in both crop cultivation and livestock management. Through advancements in soil health management, precision farming, and climate-resilient crop development, Saskatchewan has increased yields while reducing resource consumption. Similarly, in livestock farming, we have implemented best practices in feed efficiency, waste management, and sustainable grazing techniques to promote environmental responsibility.

We have engaged in valuable discussions with various ministry officials on potential collaboration in agricultural research, technology transfer, and sustainable farming practices. A key focus is reducing the carbon footprint and enhancing sustainability in food production by adopting low-emission farming techniques, improving water efficiency, and utilizing innovative crop rotation methods.

Furthermore, Saskatchewan’s agriculture and agri-food research institutions continue to explore new solutions in crop genetics, pest management, and regenerative farming; advancements that could be highly beneficial for Vietnam’s agricultural sector. Strengthening partnerships between our research institutions and Vietnamese counterparts could foster knowledge exchange and drive long-term improvements in food security and agricultural sustainability.

Can you elaborate on Saskatchewan’s collaboration with Vietnam in the industrial and renewable energy sectors?

We place a strong emphasis on renewable energy and energy security, and recognize that these priorities are just as important to Vietnam as they are to us. We see many opportunities for collaboration and synergies that can help Vietnam advance its energy security goals.

Saskatchewan is fortunate to have vast deposits of high-quality uranium, positioning us as a key player in the global energy transition. As our province works to reduce its reliance on coal and natural gas, we acknowledge that this shift will take time. However, we are actively moving towards nuclear energy as a reliable baseload power source. Significant research and development efforts are already underway in Saskatchewan, with dedicated facilities exploring advancements in nuclear energy.

Additionally, several Saskatchewan-based companies are directly involved in nuclear power, including ownership stakes in nuclear power plants. These companies, along with our research institutions, have accumulated extensive expertise in nuclear energy, and we believe this knowledge and experience can be shared with Vietnam to support its own energy transition. By strengthening cooperation in nuclear energy and other renewable energy sectors, we aim to contribute to Vietnam’s efforts in achieving long-term energy security and sustainability.

Saskatchewan is home to many high-quality universities and training institutions. How do you see the potential for cooperation with Vietnamese universities and educational organizations?

Saskatchewan’s universities and research institutions are at the forefront of innovation in various fields, including carbon capture and utilization, nuclear energy, and other advanced technologies. These institutions play a crucial role in developing sustainable solutions and addressing global challenges. We see significant potential for collaboration with Vietnamese universities and educational organizations, particularly in areas where research and technological advancements can drive long-term economic and environmental benefits for both regions.

One key example is the Vaccine and Infectious Disease Organization (VIDO), which is closely associated with our universities and contributes significantly to global health research, including vaccine development and infectious disease prevention. Partnerships in this field could lead to joint research initiatives and capacity-building efforts that enhance public health resilience in both Saskatchewan and Vietnam.

Beyond scientific research, Saskatchewan also offers expertise in agriculture, environmental sustainability, and technical training, which could be valuable for Vietnam’s workforce development. Collaborative programs, student exchanges, and faculty partnerships could strengthen ties between our educational institutions and foster innovation across multiple sectors.

By deepening academic and research cooperation, we can create opportunities for knowledge transfer, skills development, and groundbreaking discoveries that benefit both countries. We look forward to expanding these partnerships and working together to build a more sustainable and knowledge-driven future.

-Vietnam Economic Times/ VnEconomy

By 2030, the airport will reach a capacity of 3 million passengers per year, with a target of 5 million passengers per year by 2050.

The expansion project of Dong Hoi Airport in central Quang Binh province, with total investment capital estimated at over VND1.8 trillion ($70.4 million), will be further accelerated.

The project includes two compoment projects, covering an expected land area of over 15 ha. The component project 1, which involves the constuction of  Passenger Terminal T2, with investment capital estimated at VND1.75 trillion ($68.45 million), is scheduled to commence on April 30 and expected to be completed in Q4 2026. The component project 2, which involves the expansion of aircraft parking apron from 4 positions to 8 positions, with an investment capital estimated at nearly VND94 billion ($3.67 million), started in last August. 

According to the provincial leaders, Dong Hoi Airport currently has a designed capacity of 500,000 passengers per year but has already exceeded that level by more than 50%. It is projected to reach nearly one million passengers per year by 2025.

According to the plan, by 2030, the airport will reach a capacity of three million passengers per year, with a target of five million passengers per year by 2050. 

 

-Nguyễn Thuấn - Thiên Anh

New orders fall for second month but puchasing activity increases

The Vietnam Manufacturing Purchasing Managers' Index (PMI) in February was below the 50.0 no-change mark for the third consecutive month, despite rising slightly to 49.2 from 48.9 in January, according to the latest report released by the SP Global on March 2.

The latest reading was reflective of a slight deterioration in business conditions over the course of the month. After having fallen for the first time in four months during January, new orders decreased again in February. The rate of contraction was modest but quickened to the fastest since last September. Panellists reported demand weakness both domestically and internationally. Muted export demand was highlighted by a further solid decline in new business from abroad, the fourth reduction in as many months

In line with the picture for new orders, manufacturing production also decreased for the second successive month in February.

Bucking the wider trends across the sector during February, purchasing activity increased slightly. In some cases, rising input buying reflected confidence in the upcoming path of manufacturing output. In fact, business confidence strengthened for the second month in a row to the highest since June last year. Firms hope for stable economic conditions to support an improvement in new orders and thus production growth. Another factor behind the rise in purchasing activity seen in February was a desire to make sure materials were secured amid uncertainty around availability and supply-chain delays.

 

 

-Huyền Vy