Singapore is building the world’s largest industrial park in Vietnam through 18 VSIP (Vietnam – Singapore Industrial Park) projects. These industrial parks have attracted more than 18 billion USD in investment capital, created about 900 projects and provided jobs for more than 300,000 workers. VSIP zones not only focus on industrial development but also aim...
An article from New Zealand’s RNZ, titled “Why we want to be mates with Vietnam,” emphasizes Vietnam’s impressive economic growth and its burgeoning trade relationships, particularly with New Zealand. Authored by Alexia Russell, the piece notes that Vietnam is becoming one of the most sought-after travel destinations globally, with international tourist arrivals surging by 43% in...
On March 12, 2025, Vietnam and Singapore officially upgraded their bilateral relations to a Comprehensive Strategic Partnership, marking Singapore’s first such partnership with an ASEAN member state. This significant development was announced during a meeting between Vietnamese Communist Party General Secretary To Lam and Singapore Prime Minister Lawrence Wong at Singapore’s Parliament House. The establishment of...
More than 1,000 of the world’s leading technology experts are coming to Vietnam, opening up unprecedented development opportunities in the fields of artificial intelligence (AI) and semiconductors. Vietnam is currently facing a once-in-a-lifetime opportunity to assert its position in the high-tech industry, especially in the context of a rapidly changing global environment. This event not...
Vietnam’s remarkable economic transformation is a compelling story of resilience and strategic reform. Once regarded as one of the poorest economies in the world during the 1980s, with a per capita GDP of just $15,470, the country has successfully transitioned into a dynamic exporter and a lower middle-income nation. This transformation began with the abandonment of...
The significant increase in Chinese investments in Vietnam and the potential risks associated with this trend, particularly in the context of U.S. trade policies under former President Donald Trump. As Vietnam becomes a more attractive destination for Chinese capital, it has inadvertently heightened its vulnerability to U.S. retaliation, especially given the growing trade surplus between...
Vietnam is experiencing significant economic momentum, largely driven by foreign direct investment (FDI). In 2024, the country secured $38.23 billion in FDI, ranking it among the top 15 developing nations for FDI inflows. This influx has been pivotal, with disbursement of FDI capital reaching a record $25.35 billion, marking a 9.4% increase from the previous year. The Ministry of...
Vietnam’s Prime Minister Pham Minh Chinh has outlined an ambitious plan to position Vietnam as Southeast Asia’s leading economic hub by 2030. Speaking at a roundtable with European corporations, he highlighted the country’s strong economic growth, with GDP reaching $476.3 billion in 2024 (a 7.09% increase) and GDP per capita rising to $4,700. The government...
Vietnam’s Prime Minister, Pham Minh Chinh, has set an ambitious vision for the country to become a major economic, trade, and investment hub in Southeast Asia by 2030. Speaking at a dialogue with European businesses, he outlined Vietnam’s potential for growth, highlighting its large population, strategic geographical location, and strong economic foundation. The Prime Minister...
Vietnamese Prime Minister Pham Minh Chinh recently called on Japanese businesses to consider Vietnam a strategic investment destination. Speaking at a dialogue in Hanoi, he emphasized the strong 52-year Vietnam-Japan relationship, which has been elevated to a comprehensive strategic partnership. He highlighted Vietnam’s commitment to fostering an open, transparent, and favorable investment environment for foreign...
On February 28, 2025, Vietnamese Prime Minister Pham Minh Chinh met with representatives from several major Chinese companies, including Goertek, Huawei, BYD, and ZTE. The Prime Minister encouraged these corporations to consider Vietnam as a strategic hub for production and business activities. This invitation was part of Vietnam’s broader effort to attract foreign investments and...
Vietnam’s foreign direct investment (FDI) saw a significant increase of 38.6% in the first two months of 2024, reaching a total of $4.29 billion. This growth is attributed to several large-scale projects, with prominent examples being the Trina Solar Cell and Gokin Solar projects. These major investments helped boost the overall FDI inflows into the...
In October 2024, Vietnam Electricity (EVN) received approval to construct a 500 kV transmission line between Lao Cai and Vinh Yen, valued at approximately VND7,010 billion ($277.2 million). This 229-kilometer dual-circuit line aims to enhance electricity distribution in the northwestern region and facilitate power imports from China. Deputy Prime Minister and Minister of Foreign Affairs...
Chinese electronics giant Goertek is seeking permission to expand its production site in Vietnam’s northern province of Bac Ninh by 25 hectares. A Goertek delegation disclosed the information at a meeting with Bac Ninh authorities on Monday, the first working day after the Lunar New Year holiday (Tet). The delegation also urged provincial authorities to...
The 715 MW Phu My 2.2 gas-fired power plant, invested per the build-operate-transfer (BOT) format, was transferred to state utility Vietnam Electricity (EVN) on Tuesday. The transfer followed the expiration of the power plant’s 20-year operation starting February 4, 2005. This is the second BOT power plant transferred to EVN, following Phu My 3 in...
According to the development plan of the Capital region until 2030, five localities adjacent to Hanoi are expected to be upgraded to cities, including two districts of Bac Ninh, two districts of Hung Yen and one town of Ha Nam. These localities are all adjacent to Hanoi, some only about 20 km from the center...
Vietnam’s National Assembly has sanctioned the development of a significant $8.3 billion railway project aimed at enhancing connectivity between northern Vietnam and China. This 391-kilometer electrified standard-gauge railway will extend from the Lao Cai-Hekou border gate through Hanoi to Haiphong, the largest seaport in northern Vietnam. The project also encompasses 27.9 kilometers of branch lines....
Vietnam’s remarkable economic ascent over the past decade has positioned it as a key manufacturing hub and a preferred alternative to China in global supply chains. However, with President Donald Trump’s administration intensifying scrutiny over trade imbalances, Vietnam’s substantial trade surplus with the U.S. has rendered it vulnerable to potential tariffs and other protectionist measures....
In February 2025, Vietnam’s Ministry of Industry and Trade proposed a draft law aimed at regulating cross-border e-commerce to protect consumers and ensure fair competition. The proposed legislation mandates that foreign e-commerce businesses operating in Vietnam must register and obtain an operating license from the Ministry. Additionally, these businesses are required to establish a local...
In 2024, Vietnam’s trade surplus with the United States reached a record high, exceeding $123 billion, marking an annual increase of nearly 20%, according to U.S. government data released on February 5, 2025. This significant surplus positions Vietnam behind only China, the European Union, and Mexico regarding trade imbalances with the U.S. The substantial increase...
In response to recent U.S. tariff reforms under President Donald Trump, Shein, the global fast-fashion retailer, is strategically shifting its manufacturing operations to Vietnam. Historically, Shein capitalized on the U.S. de minimis rule, which permitted duty-free imports for packages valued under $800, facilitating cost-effective direct shipments from China to American consumers. However, the recent suspension...
In response to U.S. President Donald Trump’s recent announcement of potential global reciprocal tariffs, Vietnam has expressed its commitment to maintaining open trade relations with the United States. The Vietnamese government stated it has no intention of implementing measures that would “create burdens or restrict trade” with the U.S. Furthermore, Vietnam is prepared to increase...
Over the past few decades, Vietnam has transitioned from a war-torn nation to a rising economic powerhouse through strategic reforms, international trade integration, and a focus on technology-driven growth. Vietnam’s economic strategy centers on maintaining political stability, promoting export-driven industries, and increasing foreign investment. The country’s government has implemented policies aimed at improving infrastructure, fostering...
Cai Mep International Terminal (CMIT), one of Vietnam’s key deep-water ports, recently welcomed the first vessel under the Gemini cooperation—a strategic partnership between two major global shipping lines, MSC and Maersk. The initiative aims to optimize shipping operations, ensuring more efficient cargo transport through Vietnam. The Gemini service will connect Cai Mep with major ports...
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