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...
Vietnam’s economy has been the region’s outperformer in 2024, with full-year growth likely at 6.7% y/y. In 2025, we think Vietnam will continue to outperform its peers, growing by 6.5%. What you will learn: Vietnam’s economy will be the standout among the ASEAN-6, growing at a faster pace relative to its peers during the next...
US tariffs on China have intensified, reshaping global trade and prompting a shift in manufacturing away from China to Southeast Asia. President Trump’s 10% tariffs, though lower than the initially threatened 60%, have spurred retaliatory measures from China, escalating the trade war. In response, international companies, including Chinese firms, began relocating their operations to Southeast...
The United States and Vietnam have made significant strides in strengthening their economic relationship over the past few decades. Since the normalization of diplomatic ties in 1995, trade between the two countries has grown dramatically, with the U.S. now being one of Vietnam’s top trading partners. Vietnam plays a key role in global supply chains,...
Vietnam’s economic outlook for 2025 is highly positive, building upon the strong momentum from an impressive 2024. The country’s robust export performance, marked by ten consecutive months of growth, is expected to continue, provided global trade remains stable and free from disruptions, such as potential tariff policies from the U.S. Exports play a crucial role...
On January 16, 2025, the People’s Committee of Binh Dinh province welcomed Mr. Timur Mohamed, Chairman of Palmer Johnson Company, and Mr. Roland Staub, Chairman of Finance Suisse Investment Fund, to discuss investment cooperation opportunities in the field of luxury tourism. Mr. Timur Mohamed commented that Binh Dinh possesses rare factors to develop into a...
Doctranslate.io, a Vietnamese startup founded by Dr. Tran Vu Anh, has developed an AI translation platform that surpasses “giants” such as Google Translate and ChatGPT. After many years of living and working abroad, Dr. Vu Anh realized that language is a major barrier in accessing knowledge for Vietnamese people. Although current translation tools such as...
Vietnam’s economic growth, driven by export-oriented policies and pro-market reforms, has positioned it as an attractive destination for foreign investment, particularly in manufacturing. The nation’s relatively low labor costs and strategic initiatives have encouraged companies to diversify supply chains away from China, enhancing Vietnam’s role in global trade. Despite these advancements, U.S. investment in Vietnam...
Vietnam’s Ministry of Industry and Trade is drafting a decree on incentives for offshore wind power, including exemption and reduction of some fees and a commitment to minimum purchase of energy output. The draft decree stipulates that projects are exempted from paying sea-using fees during construction, and the fees are halved for 12 years...
The facility is being developed by Thai Binh LNG Power, a consortium made up of two Japanese utilities, Tokyo Gas and Kyushu Electric Power, and Vietnamese industrial conglomerate Truong Thanh Vietnam Group. The project was first announced in January last year, after the consortium formed at the Vietnam–Japan Economic Forum in Tokyo during Prime Minister...
Vietnam is proactively advancing its digital and sustainable economic transformation, positioning itself as a leader in Asia’s dual transition. The National Strategy for Digital Economy and Digital Society Development (2025 with a vision to 2030) and the National Green Growth Strategy for 2021-2030 (with a vision to 2050) underscore this commitment. Digital Economy Growth By...
Russian Prime Minister Mikhail Vladimirovich Mishustin arrived in Hanoi on January 14 for a two-day official visit at the invitation of Vietnamese Prime Minister Pham Minh Chinh. The Russian delegation was welcomed by key Vietnamese officials, including Minister Tran Van Son and Deputy Minister Le Thi Thu Hang. PM Mishustin is joined by Deputy PMs...
Vietnam’s real GDP has extended its momentum well above the median consensus views of international organisations. Vietnam’s economy demonstrated robust growth in 2024, with real GDP expanding by 7.09%, surpassing both the 5.1% growth in 2023 and the official target of 6.5%. This performance was driven by strong industrial production and services sectors, which contributed...
In 2024, the Vietnam economy showed remarkable resilience, marked by a positive GDP growth of 7.09 percent. Despite facing external challenges and the adverse impact of Typhoon Yagi, the country’s economic rebound highlighted its robust recovery and adaptability. With a steadily increasing per capita GDP and strong trade dynamics, Vietnam is a standout performer in...
According to data released by the General Statistics Office on January 6, in December 2024, the total import and export turnover of goods reached 70.53 billion USD, up 6.2% over the previous month and up 15.9% over the same period last year. In the whole year of 2024, the total import and export turnover of...
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