Investment in education and infrastructure is crucial for driving long-term sustainable economic growth, fostering innovation, and improving workforce capabilities.

Asia is changing. Supply chains are moving across the region. Apple, for example, is setting up new facilities in Indonesia. Samsung is investing big in Vietnam. It is generally assumed that this offers good job opportunities for locals. The question is whether they have the right skill set to be employed in these advanced facilities. In this context, education is an important part of moving away from the low-quality, low-paying manufacturing of yesteryear.

Mr. Herald van der Linde, Head of Equity Strategy, Asia Pacific, HSBC

We found that there are very significant benefits to growth if the majority of students finish higher secondary education. That is where the number of startups rises, productivity flourishes and GDP per capita increases significantly. At present, many Asian nations have not reached these education levels. A few, however, stand out: China, The Philippines and Vietnam. They score well and this is where small improvements in education attainment could result in large economic benefits.

It is not just getting more students to finish secondary education. There should also be a focus on the quality of education. A measurement of this – the so-called PISA score from the OECD – shows that ASEAN and South Asia in particular need to bridge the gap in terms of quality of education. Doing so will enable them to capitalise on the opportunities that comes from shifts in supply chains.

In this regard, Vietnam performs exceptionally well, nearly matching the educational standards of developed nations. The latest PISA results are comparable to those of France.

Across Asia, prospective students are very much aware of the education gap. To gain a better education, they look across borders. The number of international students in countries like mainland China, Japan and Korea are growing fast. And many come from other parts of Asia. This is, however, only possible for those that have parents that can finance expensive overseas studies.

The issue remains that the majority of Asia’s workforce do not possess advanced or tertiary education, while there is a huge demand for highly skilled talent who are well-equipped to deal with complexities involved with industries that are more advanced. Here, Vietnam has tremendous opportunities to invest in better education before others do so. It is already well under way to do so, and explains why it is gaining foreign direct investments.

This is all very positive for Vietnam. In the long run, excellent in education is one of the best ways to ensure sustainable economic growth.

-Herald van der Linde, Head of Equity Strategy, Asia Pacific, HSBC

The project requires a total investment capital exceeding VND1.863 trillion (approximately $72.3 million).

The People's Committee of the north-central province of Quang Binh has approved a finalized plan, allowing the Airports Corporation of Vietnam (ACV) to lease nearly 3ha of land at Dong Hoi Airport to build Passenger Terminal T2 and expand the aircraft apron (the project).

The project requires a total investment capital estimated at over VND1.863 trillion (approximately $72.3 million).

Once completed, Passenger Terminal T2 will have a capacity to serve three million passengers annually. Simultaneously, the expansion of the aircraft apron will involve the construction of four  more parking positions, increasing the total to eight.

The construction of Terminal 2 is slated to begin in the second quarter of 2025 and is expected to be completed and operational by the fourth quarter of 2026. Meanwhile, work on the aircraft apron expansion had commenced on August 15, 2024, with completion anticipated by May 2025.

-Phương Nhi

Vietnam Economic Times / VnEconomy sought insights from educators and businesses on the need for institutional reforms and a more favorable business environment to help domestic enterprises drive breakthrough growth to ensure the country meets its GDP growth target of 8 per cent or higher in 2025 and double-digit growth beyond.

Mr. Hoang Nam Tien, Vice Chairman of the University Council at FPT University

During the “Doi Moi” (Renovation) period, Vietnam’s economic growth surpassed 9 per cent in 1995 and 1996 before declining. Looking ahead now, however, one critical factor that could drive Vietnam towards double-digit growth is institutional reform, which would unlock the full potential of its private sector.

Relying solely on public investment and FDI could sustain growth at around 8-9 per cent, but surpassing 10 per cent requires unleashing the power of private enterprises.

Exports have long been a key driver of Vietnam’s economic expansion. As the economy has grown, several Vietnamese industries, such as textiles and agriculture, have flourished. In 2024, durian exports alone brought in nearly $3 billion, while FPT earned $1 billion annually from software exports. These successes reflect growing confidence in Vietnam’s economic potential, and many more opportunities remain untapped.

This confidence was not always present. In 2015, when FPT set a goal of reaching $1 billion in annual export revenue, many within the company doubted whether it was achievable. By the end of 2023, however, that milestone had been reached. Today, $1 billion is no longer considered an ambitious target, and the company is aiming for $5 billion in software export revenue by 2030. This is just one example, and in the years ahead thousands of Vietnamese businesses could generate revenues in the hundreds of millions to billions of dollars.

In the future, Vietnam’s trade surplus with the US may no longer be driven mainly by textiles and footwear but by high-tech industries such as software exports. With 2030 approaching, FPT has already committed to its $5 billion export target, and the next generation of entrepreneurs could add tens of billions more to private sector exports.

Achieving such transformative growth requires that businesses evolve. At FPT, we recognized that reaching $5 billion in exports through human labor alone would require 200,000 employees. However, technology has changed the equation, and many companies are adapting to this shift.

AI has advanced rapidly. In this new era, success will depend on individuals who can think creatively and leverage technology for innovation. This presents a unique opportunity for Vietnam’s younger generation, those who have grown up with AI and digital tools, to drive breakthrough growth.

AI is a game-changer, offering countries like Vietnam significant advantages. Vietnam’s young, tech-savvy workforce is poised to thrive. As digital transformation accelerates and AI becomes more deeply integrated into business and industry, Vietnam is in a prime position to capitalize on this shift.

 

Mr. Phan Le Thanh Long, Founder and Director at the AFA Group

The year 2024 was a challenging one for private enterprises. However, stepping into 2025, thanks to the economic growth policies set forth by the Party and the government, alongside institutional reform and supportive policies, private enterprises are now presented with significant opportunities for growth.

Large enterprises have long contributed substantially to Vietnam’s economic expansion. With their competitive advantages, they can leap ahead and capitalize on strategic, high-growth sectors such as semiconductor technology and software development.

For small and medium-sized enterprises (SMEs), 2025 marks a pivotal year in transformation, particularly in how they approach market expansion. With the rise of the internet and AI, geographical boundaries are becoming increasingly blurred, meaning that businesses must now look beyond the domestic market and seize international opportunities.

To achieve this, companies must focus on effective governance and building a solid business model. Only with a robust management structure, spanning from the Board of Directors and the Executive Board to operational oversight and control, can businesses navigate their path to sustainable growth.

With institutional bottlenecks being addressed and the Party and government demonstrating a strong commitment to private sector development, businesses now face both a major opportunity and a turning point. Transparency, public disclosure, and governance quality must be strengthened to align with this new era.

Ultimately, governance plays a critical role in meeting the demands of capital markets, attracting investment, and securing foreign capital. As Vietnam works towards an upgrade in its market classification, governance will be a key trend affecting all enterprises.

Looking at governance reports from 2024 assessing 2023, there remains a gap compared to ASEAN standards. However, the transition year of 2025 is expected to bring significant improvements.

Sustainable development is emerging as a critical criterion for many Vietnamese enterprises. It is now embedded in multiple areas, particularly in credit ratings. Whether raising capital through equity or loans, companies must meet sustainability requirements to access funding.

Moreover, the structure of corporate boards in Vietnam has evolved. Businesses are now placing greater emphasis on governance, yet a key challenge remains: a shortage of qualified personnel, particularly in corporate management. To address this, companies must develop a professional, independent, and specialized governance workforce, moving beyond the past practice of boards and executive teams merely holding capital without actively engaging in management.

As AI continues to advance, businesses can leverage this technology to boost productivity and accelerate decision-making. This is an irreversible trend, and enterprises across all industries must adapt or risk being left behind. When SME owners recognize the opportunities, take bold steps, and invest the necessary resources, they will drive private investment and contribute to GDP growth.

 

Mr. Nguyen Thanh Ha, Managing Partner of SBLaw

In 2025 and beyond, numerous tax law proposals will be presented to the National Assembly for discussion and approval. As the economy faces challenges such as inflation, supply chain disruptions, and weakening global demand, tax policies must be adjusted carefully to support businesses and consumers while ensuring stable State budget revenue. To achieve these goals, three key priorities should be considered.

First, tax policies should serve as a catalyst for investment. Reducing corporate income tax or introducing appropriate tax incentives can provide businesses with additional resources to expand production, adopt new technologies, and create jobs. This becomes even more critical in the post-Covid-19 recovery phase and amid ongoing geopolitical uncertainties. Encouraging investment in strategic sectors such as infrastructure, high technology, and education will not only drive short-term economic growth but also lay a solid foundation for long-term sustainable development.

Second, supporting consumer purchasing power is equally important. Measures such as reducing value added tax (VAT) rates or adjusting personal income tax rates can lower the cost of goods, increase disposable income, and stimulate domestic consumption. A rise in consumer spending will drive production, create a positive economic cycle, and contribute to GDP growth. However, tax adjustments must be carefully balanced to prevent negative impacts on State revenue and ensure fiscal sustainability in the long run.

And third, a comprehensive approach is essential when refining tax policies. Evaluating the impact not only from an economic perspective but also from a social standpoint is crucial to ensuring fairness, transparency, and a stable, competitive business environment. Engaging experts, businesses, and the public in policy discussions will help shape tax policies that not only address immediate challenges but also foster long-term sustainable growth.

In a rapidly-changing and unpredictable economic landscape, tax laws should provide a flexible framework, allowing the government to adjust tax rates in response to real-time economic conditions.

During the Covid-19 pandemic, many countries and territories quickly adjusted tax rates to support businesses and consumers. Vietnam implemented a VAT reduction, from 10 per cent to 8 per cent, to boost consumption. If such adjustments had required a full legislative amendment, the process could have taken months or even years, while businesses needed immediate relief. Similarly, when global fuel prices surged, some countries quickly lowered environmental taxes on fuel to control inflation. Without a flexible mechanism, tax policies risk becoming slow and ineffective in addressing economic realities.

The key concern is the extent of authority granted to the government. Taxation is not just a revenue source but also directly affects businesses and individuals. Allowing the government to adjust tax rates without limitations could create policy instability, making it difficult for businesses to anticipate changes and plan long-term strategies. If, for example, the government had the power to increase corporate income tax rates from 20 per cent to 30 per cent through a decree, it could cause significant disruption in the business environment and deter investment.

A balanced approach would be to set a tax rate range within the law, enabling the government to make adjustments within this predetermined framework. Any changes beyond this range should require National Assembly approval. For instance, corporate income tax could be legislated within a 15-25 per cent range, allowing adjustments within these limits. If a rate increase to 30 per cent or a reduction below 15 per cent become necessary, this would require legislative approval. Such an approach ensures flexibility in policy implementation while maintaining transparency and stability in the business environment.

 

Ms. Dinh Thu Huong, Deputy General Director of the Net Zero Vietnam JSC

The government’s issuance of Decision No. 232/QD-TTg on January 24, 2025, approving a project to develop the country’s carbon market, reflects Vietnam’s responsiveness to investors’ views on the growth potential of the carbon credit market.

Though Vietnam’s carbon credit exchange is operational, it will initially function on a pilot scale from 2025, with this potentially extending until 2027 or 2028 before integrating with the global exchange in 2029-2030. Despite its pilot status, the establishment of this exchange has already drawn attention from both domestic and international businesses to the potential of Vietnam’s carbon credit market.

Moreover, the forthcoming requirement for businesses in Vietnam to comply with government-mandated emissions quotas presents an opportunity for the carbon credit trading market to expand. Beyond achieving the net-zero target by 2050, the development of the carbon credit market is an essential step for Vietnam to align with the global green transition.

Building a domestic carbon credit trading market will also foster the emergence of an ecosystem of businesses operating in this sector, further contributing to economic growth. In the past, many Vietnamese companies seeking to trade carbon credits had to rely on foreign service providers due to the absence of local standards or domestic entities responsible for establishing compliance criteria.

Without domestic standards, Vietnamese businesses will face challenges in participating in the international carbon credit trading market. Over the past year, the World Bank has purchased a number of forest credits from Vietnam, a type of emissions allowance with a lower value than carbon credits, at just $3-4 per credit. Once national standards are established and internationally recognized, Vietnam’s carbon credit prices are expected to rise significantly. However, achieving this goal will require time and substantial investment.

Vietnam has the potential to generate significant economic benefits from carbon credit trading, especially as achieving net-zero is a global priority. However, before engaging in the global exchange, Vietnam must first secure sufficient carbon credits to meet its Nationally Determined Contribution (NDC) emission reduction targets.

Once the NDC target is met, Vietnam can supply carbon credits to major emitting economies such as the US, China, India, and Russia. Some developing countries are now leveraging their vast forest resources to profit from carbon credit trading. Vietnam cannot afford to stay out of this game.

 

Mr. Nguyen Minh Tuan, CEO of AFA Capital

To ensure GDP growth reaches 8 per cent in 2025 while maintaining Vietnam’s long-term economic momentum, capital remains a key factor.

In this context, the non-State sector (or the private sector) plays a crucial role. Currently, the private sector contributes nearly 45 per cent of national GDP and accounts for over 40 per cent of total disbursed social investment capital.

However, private sector investment growth has shown signs of slowing in recent years. From 2015 to now, private investment in Vietnam has maintained an average annual growth rate of approximately 17.08 per cent. But, by 2024, this figure had declined sharply, to 6.85 per cent, with 2023 recording an even lower rate, of just 2.71 per cent. This decline clearly reflects the challenges facing the private sector and indicates a weakening investment drive.

Looking at the broader picture of total social investment growth, private investment appears to be a misaligned cog in the economic engine, unable to function smoothly to generate strong economic momentum. In this context, stimulating private investment is not just an important task but a decisive factor for Vietnam’s overall economic growth targets in the time to come.

To achieve the government’s 8 per cent GDP growth target this year, Vietnam must focus not only on accelerating public investment and attracting FDI but also on boosting private investment. According to projections, investment from this sector needs to reach at least VND2,300 trillion ($92 billion), equivalent to 7.7 per cent growth compared to 2024. This goal will require a series of practical support policies to create favorable conditions for the private sector to maximize its potential.

One key solution is to introduce a dedicated resolution aimed at fostering the sustainable development of the private sector. At the same time, the government must continue to significantly improve the investment environment, simplify administrative procedures, enhance transparency, and minimize legal barriers to enable private enterprises to expand and operate more efficiently.

In reality, if Vietnam can establish a solid institutional framework and create a favorable business environment, the private sector will undoubtedly thrive. A clear testament to this is the current generation of young entrepreneurs who are not only active domestically but also engaged in the global economy, present in developed markets, and investing in various sectors in Vietnam. More young entrepreneurs are viewing Vietnam as an ideal destination for wealth accumulation and business ambitions.

Therefore, with a well-structured institutional framework that encourages innovation, promotes private sector development, and ensures sustainable growth, achieving a GDP growth rate of 8-10 per cent is entirely feasible for Vietnam.

-Vietnam Economic Times

Vietnam regrets the US decision to impose a reciprocal tariff of 46% on Vietnamese exports to its market.

Vietnam regrets the US decision to impose a reciprocal tariff of 46% on Vietnamese exports to its market, spokesperson for the Ministry of Foreign Affairs Pham Thu Hang stated on April 4.

The spokesperson made the statement in response to reporters’ question regarding Vietnam’s reaction to the Trump administration’s announcement of the reciprocal tariff on imports from Vietnam.

“We believe that the decision is not in line with the reality of mutually beneficial economic and trade cooperation between the two countries,” stated the spokesperson, as quoted by the Vietnam News Agency, adding that  the decision  fails to reflect the spirit of the Comprehensive Strategic Partnership for peace, stability, cooperation, and development; and if enforced, would negatively impact bilateral economic and trade relations as well as the interests of businesses and people in both countries,

According to the spokesperson, Vietnam has actively engaged in discussions with the US in recent times to address concerns, promote bilateral economic and trade cooperation, and work towards fair, sustainable, and mutually beneficial trade.

“Vietnam will continue to coordinate and engage in discussions with the US in a constructive and cooperative spirit to find practical solutions that contribute to the stable and sustainable development of bilateral economic relations, ensuring the interests of businesses and people in both countries,” the spokesperson said.

-Vân Nguyễn

Spanning approximately 34,000 sq.m, SaigonTex - SaigonFabric 2025 is set to host over 1,100 exhibitors—a 6% increase compared to 2024.

The Vietnam Saigon Textile Garment Industry – Fabric Garment Accessories 2025 (SaigonTex - SaigonFabric 2025) will be held at the Saigon Exhibition Convention Center (SECC) from April 9 to 12. 

The exhibition will highlight all facets of the textile and garment industry, serving as a platform to connect manufacturers, suppliers, and buyers from Vietnam and across the globe.

Spanning approximately 34,000 sq.m, SaigonTex - SaigonFabric 2025 is set to host over 1,100 exhibitors—a 6% increase compared to 2024.

Participants include enterprises and brands from 25 countries and territories, such as Belgium, China, Germany, Hong Kong (China), France, Italy, Japan, South Korea, Switzerland, Taiwan, the UK, and the USA, among others.

The event will also showcase fashion shows featuring the latest trends and eco-friendly materials, offering attendees a chance to engage with brands through interactive hashtags.

In addition, a Product Presentation Program will allow Vietnamese businesses to present their latest innovations and high-quality products to potential buyers.

This year’s exhibition introduces a new theme: "Manufacturing Technology," which has garnered significant interest from exhibitors. To further enhance networking opportunities, organizers have established a dedicated business matching zone.

-Phạm Long

The Tu Lien Bridge project will span three districts—Tay Ho, Long Bien, and Dong Anh—covering a land area of approximately 62.71 ha.

The Hanoi People's Committee has officially approved the investment projects for the Tu Lien Bridge and the Ring Road 3 section through Dong Anh District.

Under the People's Committee's Decision No. 1850/QD-UBND, the Tu Lien Bridge project will span three districts—Tay Ho, Long Bien, and Dong Anh—covering a land area of approximately 62.71 ha.

The Hanoi Traffic Construction Investment Project Management Board has been designated as the investor, with the total investment capital surpassing VND15 trillion (over $581.5 million).

Scheduled for implementation between 2025 and 2027, the project aims to enhance transportation infrastructure by connecting the two banks of the Red River, promoting urbanization, alleviating population congestion in central areas, and easing the burden on existing bridges such as Chuong Duong, Long Bien, Nhat Tan, Thang Long, and Vinh Tuy.

Separately, the People's Committee's Decision No. 1880/QD-UBND outlines the Ring Road 3 section project through Dong Anh District, with a total investment capital of VND5.413 trillion ($210 million).

The Dong Anh District People's Committee will oversee the project, which is expected to be executed from 2025 to 2028.

The Ring Road 3 section is designed with a cross-section ranging from 61 to 68 meters, featuring six lanes for motorized vehicles on the main route, complemented by two parallel service roads.

-Gia Huy

PM Pham Minh Chinh stressed the importance of fostering public-private partnerships, mobilizing resources from businesses and the public, and building an advanced financial center.

Prime Minister Pham Minh Chinh has requested proposals for building an international financial center suitable to Vietnam's conditions.

During the inaugural meeting of the Steering Committee on the Regional and International Financial Centers in Vietnam on April 3, the PM  emphasized that establishing regional and international financial centers is both a challenging and novel endeavor for the country.

The PM urged the Steering Committee, relevant ministries, agencies, and localities to closely adhere to the conclusions of the Politburo and the directives of Party General Secretary To Lam on the matter. He called for the refinement of relevant documents and proposals, with further clarification on key points.

"Develop independent, specific, special, superior, modern, and competitive mechanisms and policies," the PM emphasized, suggesting that "the administrative boundaries of the center should be relatively flexible, ensuring convenience and the most optimal and effective implementation."

He also stressed the importance of fostering public-private partnerships, mobilizing resources from businesses and the public, and building an advanced financial center. This would be achieved by enhancing digitalization, employing scientific and technological solutions for smart operations and management, ensuring security and safety, establishing effective supervision and dispute resolution mechanisms, and attracting high-quality human resources from both the public and private sectors domestically and internationally.

PM Chinh further highlighted the need for proposed regulations to clearly delineate authority for implementation, particularly in addressing emerging issues not yet covered by legal frameworks or where existing regulations have been overtaken by practical developments.

Alongside the finalization of documents for submission to the Politburo and the National Assembly, relevant ministries and agencies were tasked with drafting implementing decrees based on their functions, responsibilities, and authority.

-Tiến Dũng

The global gold prices forecast to keep increasing, following reciprocal tariff plans announced by US President Trump.

The gold bar prices in the domestic market exceeded the VND102 million ($3,929) per tael mark on April 4 in line with the global moves.

The Saigon Jewelry and Germ Stone Co. (SJC) sold SJC-branded gold bars at VND102.4 million ($3,944) per tael on the day, up by VND600,000 ($23.1) per tael compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

Meanwhile, the State-owned commercial banks - Vietcombank and VietinBank - offered the gold bars at VND102.8 million ($3,959) per tael and the BIDV sold the gold bars at VND102.5 million ($3,948) per tael.

In the global market, the gold prices jumped by 0.37% on April 3 to reach $3,145 per ounce.

At this level, gold prices in Vietnam stand at around VND3.3 million ($127.1) a tael higher than the global price.

The global gold prices are forecast to keep increasing, following reciprocal tariff plans announced by US President Trump.

 

-Phương Linh

Provided by the Korea Exchange, the system can handle 3-5 million orders a day.

Vietnam’s long-anticipated KRX trading system is finally set to go live on May 5, marking a breakthrough in market infrastructure and a major step toward modernizing the country’s stock exchange operations, according to a report from the Vietnam News Agency. 

Provided by the operator of South Korea’s bourse, the Korea Exchange (KRX), the system can handle 3-5 million orders a day and avoid overloads.

The KRX system is currently in its final testing phase before full implementation. During this period, securities firms are conducting simulated trading sessions as if on a normal trading day. However, the Ho Chi Minh Stock Exchange (HOSE) has instructed market participants to refrain from testing unrealistic or unusual scenarios.

To ensure smooth adoption, HOSE has published comprehensive guidelines on new trading regulations that will take effect along with the system launch. These updates aim to help investors navigate the evolving market landscape with confidence.

 

-Vân Nguyễn

The US Administration freshly announced a 46% tariff on goods to be imported from Vietnam, effective from April 9.

As soon as the US announced a 46% tariff on goods to be imported from Vietnam, Minister of Industry and Trade Nguyen Hong Dien sent a diplomatic note requesting US authorities delay the imposition of the tariff  to allow for a constructive dialogue to seek a reasonable solution for both sides, according to Director of the Ministry of Industry and Trade (MoIT)’s Department of Foreign Market Development Ta Hoang Linh.

Speaking to the press in Hanoi on April 3, Mr. Linh said the MoIT would arrange a ministerial phone call and technical talks with the Office of the US Trade Representative (USTR) as soon as possible.

Highlighting the complementarity of the two economies, including their export and foreign trade structures, he noted that Vietnam’s exports to the US primarily compete with third-country goods, not US products, while providing US consumers with affordable, quality options.

The most-favored-nation (MFN) tariff rates Vietnam is imposing on imports from the US average 9.4%, so the reciprocal tariff of up to 46% that the US plans to levy on goods to be imported from Vietnam lack scientific basis and unfair, not reflecting Vietnam's goodwill and efforts in addressing trade imbalance between the two countries over the recent past, he said.

The Vietnamese Government, ministries, and sectors have recently taken proactive steps to address many problems facing US companies operating in Vietnam, including a decree reducing the MFN tax rates which benefits 13 categories of US goods. Besides, a large number of US investment projects have had their difficulties tackled, he said.

According to the White House, the reciprocal tariffs on trade partners of the US aim to address the injustices of global trade, reshore manufacturing, strengthen national security, and boost economic growth, with the tariffs remaining in place until trade deficits and perceived unfair practices are resolved. Therefore, the MoIT holds that the two sides still have room to negotiate to achieve a mutually beneficial outcome, according to Mr. Linh.

-Nguyệt Hà

This violation falls under the licensing authority of the Provincial People's Committee.

The People's Committee of northern Bac Giang Province has imposed administrative penalties on Thien Dong Co., Ltd. for operating a plant without a required environmental permit.

As a result, the Provincial People's Committee fined Thien Dong Co., Ltd. VND320 million ($12,400) and suspended the operations of the waste-generating sources at its Precision Mechanical Processing Plant for a period of 4.5 months (135 days) to ensure the violation is rectified in accordance with regulations

The company, specializing in trading, manufacturing, and supplying plating machines, had failed to obtain the permit for its Precision Mechanical Processing Plant located in Song Khe - Noi Hoang Industrial Park, Bac Giang City. This violation falls under the licensing authority of the Provincial People's Committee.

According to Clause 2, Article 39 of the 2020 Law on Environmental Protection, the Precision Mechanical Processing Plant is required to possess an environmental permit. However, to date, the plant has not complied.

This penalty followed a similar decision in late March, when the Provincial People's Committee fined Samkwang Vina Co., Ltd., headquartered in Quang Chau Industrial Park, Viet Yen Town, VND320 million ($12,400), also for  operating without a required environmental permit.

Operations at its waste-generating sources, under the "Samkwang Vina Electronic Components Factory" project, were similarly suspended for 4.5 months.

-Nhĩ Anh

The figure marking the highest first-quarter increase since 2020.

Ho Chi Minh City recorded a GRDP growth rate of over 7.5% year-on-year in the first quarter of 2025, marking the highest first-quarter increase since 2020, according to the municipal Department of Finance.

Growth comes from the upturn in most fields. Of which, services rose 8.72%, industry and construction surged 5.94%, and agriculture, forestry and fishery jumped 0.27%.

The city’s export revenue reached $11.7 billion, up 5.55% compared to the same period last year, while import value was estimated at $15.6 billion, soaring 15% year-on-year.

Total retail sales of consumer goods and services amounted to over VND316.6 trillion ($12.1 billion), up 14.2% year-on-year.

The tourism sector posted impressive growth with total revenue of more than VND56.6 trillion ($2.18 billion) in the three-month period. The city welcomed over 1.64 million international tourists and 8.57 million domestic visitors.

FDI attraction reached over $567 million, a year-on-year rise of 23.4%.

-Thanh Thủy

Shrimp and tra fish remaining key growth drivers.

Vietnam’s seafood export revenue in the first quarter of the year reached $2.45 billion, increasing 26% year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

In March alone, revenue from seafood exports reached nearly $889 million, marking a year-on-year rise of nearly 20%.

Shrimp topped aquatic products with export turnover hitting $931.6 million, soaring 35.7% compared to the same period last year. This surge was largely attributed to robust demand from major markets such as China, the US, and the EU.

Meanwhile, tra fish exports raked in $465 million, an annual rise of 13%.

Revenue from overseas shipments of crabs, swimming crabs, and molluscs with shell fish stood out as a highlight in the first quarter, reaching $86.4 million, up 66% year-on-year.

Export value of tuna, however, dropped slightly 3.6% to $222.7 million.

 

-Chương Phượng

Vietnam to be subjected to import tariff of 46%.

Prime Minister Pham Minh Chinh has requested immediate establishment of a rapid response team after the US Administration announced universal tariff range from 10- 49% country by country.

The response team will be headed by Deputy Prime Minister Bui Thanh Son.

Chairing a meeting on April 3 to discuss immediate and long-term measures relating to the issue, PM Chinh emphasized the current situation shows that trade competition is becoming fiercer, complicated and unpredictable.

Vietnam hopes that the US would have a policy that is consistent with the good relations between the two countries, the wishes of the people of both sides and Vietnam's efforts in recent times, in line with the conditions and circumstances of Vietnam as a developing country, still having to continue to overcome the severe and prolonged war consequences, the PM said.

He assigned Deputy Prime Minister Ho Duc Phoc to direct ministries and agencies to collect opinions from businesses, including large export enterprises.

The PM also reiterated the Government's GDP growth target of at least 8% for 2025 remains unchanged

According to the universal tariff announced by the US Administration, 
Cambodia is subject to the highest tariff rate of 49%, followed by a 46% tariff on imports from Vietnam.

Meanwhile, the European Union faces a 20% tariff, and China would have an additional tariff of 34%. 

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-Tiến Dũng

Tourism emerged as the city's standout economic sector during this period, with nearly 1.5 million tourist arrivals

Hue City's Gross Regional Domestic Product (GRDP) growth rate for the first quarter of 2025 is estimated at an impressive 9.9%, according to the city's Department of Finance.

Tourism emerged as the city's standout economic sector during the period, with nearly 1.5 million tourist arrivals, representing a remarkable 62% increase compared to the same quarter last year, thanks to the successful organization of numerous unique cultural events and festivals.

In addition to tourism, the city's export turnover showed strong performance.

March 2025 export turnover was estimated at $104.3 million, reflecting a 7% increase from the previous month and a 20% year-on-year growth. Hue City's total export turnover for Q1 2025 reached $318 million, marking a 23% year-on-year rise and fulfilling 22% of the annual target.

Key developments also took place in the industrial and infrastructure sectors during Q1. The city worked to support investors and resolve challenges for them, thus enabling the commencement of several major projects, including the Creanza high-tech quartz sand processing plant, the Dat Phuong patterned white glass factory, the Chan May Logistics Center, and two social housing projects in the An Van Duong urban area. These projects represent a total investment capital of approximately VND6 trillion (nearly $233 million).

Furthermore, Hue City celebrated the technical traffic opening of the Huong River Overpass, a vital component of the Nguyen Hoang Street - Huong River Overpass project.

-Nguyễn Thuấn

Vietnam and Armenia have open economies where exports play a crucial role, and both possess the capacity to adapt to international trade principles.

As part of his official visit to Armenia, Chairman of the National Assembly (NA) Tran Thanh Man and the high-level delegation of the NA attended the Vietnam-Armenia Business Forum in  Yerevan, the capital of Armenia, on April 2 (local time).

Addressing the forum, the NA Chairman stated that Vietnam and Armenia have open economies where exports play a crucial role, and both possess the capacity to adapt to international trade principles.

To fully leverage the potential for cooperation, he outlined specific directions for businesses from both countries to consider.

Regarding information technology and digital transformation, Armenia is known as a "Silicon Valley" of the region with a strongly developing IT sector. Meanwhile, Vietnam is also promoting digital transformation across all sectors. Therefore, the NA Chairman encouraged businesses from both sides to cooperate in developing software, artificial intelligence (AI), and technological solutions for education, healthcare, and smart city management.

Regarding agriculture and food processing, according to the NA Chairman, Vietnam can supply tropical agricultural products such as coffee, cashew nuts, and seafood, while Armenia can share its expertise in processing high-quality agricultural products, especially wine and dried fruits.

Regarding renewable energy, he proposed that businesses from both sides jointly research and invest in projects for solar, wind, and small hydropower, leveraging Armenia's advanced technology and Vietnam's abundant resources.

To enhance deeply and comprehensively the cooperation between the business communities of the two countries, with a focus on investment and trade, the NA Chairman made the following proposals:

First, both sides should actively create opportunities for Vietnamese and Armenian businesses to regularly exchange, seek, and capitalize on cooperation and investment opportunities, especially in fields with high potential and demand.

Second, the two countries need to increase the exchange of delegations at all levels, especially high-level ones, to strengthen political trust and promote cooperation in potential areas.

Third, competent authorities should facilitiate businesses cooperate deeply and comprehensively, enhance competitiveness, jointly tap into each other's markets and regional ones, and participate more deeply in regional and global value and production chains.

Fourth,  both governments are urged to continue efforts to improve the investment and business environment, creating maximum favorable conditions for businesses of two sides to enhance cooperation and successfully implement investment and business activities, in accordance with legal regulations.

Fifth, the business communities of both countries should support each other in tapping into their respective markets, as well as expanding into the ASEAN and Central Asian regional markets.

-Quang Trung

Efforts urged to improve market access for goods from both sides, including agricultural products, seafood, dairy products, transportation vehicles, agricultural machinery, and equipment.

Minister of Industry and Trade Nguyen Hong Dien and Belarusian Deputy Prime Minister Anatoly Sivak co-chaired the 16th Session of the Vietnam-Belarus Intergovernmental Commission on Economic-Trade and Scientific-Technical Cooperation in Hanoi on April 1.

The session reviewed the progress of previous agreements and acknowledged positive developments in traditional sectors such as diplomacy, trade, industry, agriculture, science, culture, sports, and education. Discussions also explored new areas of cooperation, including construction, health care, and information technology.

While acknowledging several positive outcomes in bilateral collaboration, both sides recognized that their current cooperation falls short of the potential and strengths both countries possesses.

To address this, Minister Nguyen Hong Dien proposed a series of measures to deepen collaboration, including:

First, continue effectively executing high-level agreements reached during Belarusian Prime Minister Roman Golovchenko's visit to Vietnam in December 2023.

Second, strengthen information sharing and policy consultations at all levels to address challenges and obstacles during implementation. This includes finding flexible solutions to boost bilateral trade turnover.

Third, continue efforts to improve market access for goods from both sides, including agricultural products, seafood, dairy products, transportation vehicles, agricultural machinery, and equipment.

Fourth, provide favorable conditions for businesses from both countries to participate in fairs, exhibitions, and trade exploration opportunities; and promote the effective use of preferential treatment offered by the Free Trade Agreement between Vietnam and the Eurasian Economic Union (EAEU).

Fifth, research and propose partnerships in emerging and high-tech sectors where one country has advantages and the other has needs. Potential areas include foundational industries like processing, manufacturing, mechanical engineering, materials, chemicals, and advanced sectors such as semiconductor chips, artificial intelligence, cloud computing, green transition, and circular economy.

Sixth, Vietnam requested that Belarus create optimal conditions for Vietnamese businesses, including Belarusian entrepreneurs of Vietnamese origin, to operate and invest in Belarus.

Deputy PM Anatoly Sivak,  for his part, reiterated Belarus’s recognition of Vietnam as a key partner in the region, stressing the need for enhanced collaboration between ministries and businesses to maximise trade and investment opportunities.

-Nguyệt Hà

Measures including development of institutions that ensure transparency, reduce administrative procedures, and eliminate unnecessary steps that cause inconvenience or bottlenecks for businesses.

Prime Minister Pham Minh Chinh has urged for more efforts to encourage the development of the private sector, and create favorable conditions for private businesses to participate in major national programs and projects.

Chairing the second meeting of the National Steering Committee for building the private economic sector development project, PM Chinh, who is head of the committee, stressed that it must fully unleash the productive capacity and resources of the country through the private sector; and mobilize all private resources for national development.

The PM asked for the development and implementation of institutions that ensure transparency, reduce administrative procedures, eliminate unnecessary steps that cause inconvenience or bottlenecks for citizens and businesses, and minimize compliance costs to the highest extent possible.

It was also necessary to mobilize resources, and diversify markets, products and supply chains to help people and businesses to get better access to business opportunities.

The Government leader stressed the need to have measures to promote sustainable business, and develop green economy and digital economy.

Private enterprises must be mobilised and assigned tasks to participate in the implementation of the three strategic breakthroughs that the Party and State are carrying out, especially in major infrastructure projects such as high-speed railways, airports, seaports, and expressways, he stressed.

 

-Tiến Dũng

The port in HCM City can accommodate vessels ranging from 30,000 DWT to 50,000 DWT.

The Ministry of Construction has approved a pilot program allowing international cruise ships to dock at Saigon - Hiep Phuoc Port in Nha Be district, Ho Chi Minh City.

Located on the Soai Rap River, Saigon - Hiep Phuoc Port features three berths totaling 800m in length, along with two mooring buoys, and can accommodate vessels ranging from 30,000 DWT to 50,000 DWT.

Approved by the Ministry of Transport (now the Ministry of Construction) in October 2024, the port is allowed to receive the international cruise ship Viking Orion, which has a capacity of 3,640 DWT and transporting 1,400 passengers.

 The pilot program for international cruise ship arrivals is expected to boost HCMC’s cruise tourism industry.

 

-Hoài Niệm

Situated in Phuoc An Commune, Nhon Trach District, the industrial park is bordered by the Ben Luc - Long Thanh Expressway on one side, and the Thi Vai River on the other.

The People's Committee of southern province of Dong Nai has officially approved the 1/2000 scale zoning plan for Phuoc An Industrial Park.

Situated in Phuoc An Commune, Nhon Trach District, the 330-ha.industrial park is bordered by the Ben Luc - Long Thanh Expressway on one side, and the Thi Vai River alongside a planned railway line on the other.

It is designed as an eco-oriented industrial park, aiming to attract projects in supporting industries and high-tech sectors. The park takes advantage of its proximity to Phuoc An Port—Dong Nai's largest seaport—which began operations in mid-February.

Under the plan, Phuoc An Industrial Park is divided into two distinct sub-zones. 

Sub-zone A covering over 58 ha, this area will prioritize high-tech industrial models, small and medium-sized enterprises (SMEs), supporting industry businesses, and innovative enterprises.

Sub-zone B spans nearly 272 ha,  focusing on supporting industries, multi-sector high-tech industries, services, and trade facilities. It will also serve as a hub for key technical infrastructure for the park. Additionally, functional land plots in this zone will be allocated for security headquarters and fire prevention and fighting facilities, adhering to current regulations.

-Thiên Di