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...
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...
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