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Vietnam — Daily

Vietnam Daily: FTSE upgrade sets 2026 inclusion, gold hits record on import shift, Hanoi to host UN cybercrime signing

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Politics

PM Orders Real Estate Tax Report by Oct. 15, Tightens Credit and Pushes Affordable Housing Supply

Published: 2025-10-08

"Finance Ministry must urgently report on real estate tax policy by October 15" - Prime Minister Pham Minh Chinh (vnexpress.net)

Prime Minister Pham Minh Chinh issued Directive 190 directing a multi-agency push to cool housing prices and expand supply. The Finance Ministry must present options on real estate taxation by Oct. 15 and work on end-to-end digital integration of property transactions, notarization, tax, and land registration. The State Bank is tasked to steer credit toward social housing, worker housing, affordable commercial units, and old-condo renewal, while scrutinizing high-end projects and suspected price inflation; acceleration of the VND120 trillion social housing credit and first-home loans for buyers under 35 is required. The Construction Ministry will propose price-control mechanisms consistent with market rules, expand rental and rent-to-own policies, and finalize a state-run real estate and land transaction center pilot. Provinces must reserve land for social housing and enforce anti-speculation oversight of brokers.

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Prime Minister Directs Emergency Flood Response in Thai Nguyen; VND 140 Billion Released for Hard‑Hit Northern Provinces

Published: 2025-10-08

Prime Minister Pham Minh Chinh visited inundated Thai Nguyen hours after the Party Central Committee’s 13th plenum closed, ordering rapid evacuations from high‑risk zones, round‑the‑clock dike protection, and immediate delivery of food and water to isolated households. Authorities report record flooding on the Cau River, extensive power and telecom outages, and significant damage: at least 4 dead, 2 missing, and over 5,000 homes flooded. The Government approved VND 140 billion in emergency funds for Thai Nguyen (VND 50 billion), and for Cao Bang, Lang Son, and Bac Ninh (VND 30 billion each). The Prime Minister tasked ministries and localities to stabilize essential services and fast‑track a reinforced flood‑control system on the Cau River by 2026 to reduce future risk and economic disruption.

"Human life comes first; no one should be left hungry or without shelter." - Prime Minister Pham Minh Chinh (vietnamplus.vn)

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Ho Chi Minh City Party Congress Sets Course for “International Megacity” and National Financial Hub

Published: 2025-10-08

Ho Chi Minh City’s 1st City Party Congress will convene on October 11–15 to set a development roadmap following the administrative merger with Binh Duong and Ba Ria–Vung Tau. The enlarged metropolis spans 6,773 km² with 13.6 million residents and a labor force of 7.2 million, and an estimated combined GRDP of VND 3.03 quadrillion (USD 123 billion), or 23.5% of national GDP. Plans prioritize fast, sustainable growth via digital and green transitions, high-tech industry shifts, and attraction of multinational R&D and semiconductor investment. The city aims to establish Vietnam’s international financial center and accelerate major transport links, including metro, inter-regional rail, ring roads 2–4, and port-air connectivity. Key challenges include infrastructure gaps, high-skilled labor shortages, and environmental pressures.

"The new vision is to make Ho Chi Minh City an international megacity of Southeast Asia, among the world’s top 100 most livable cities." - Duong Anh Duc, Head of Propaganda and Mass Mobilization, HCMC Party Committee (baotintuc.vn)

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Economy

FTSE Russell Elevates Local Bourse to Secondary Emerging Status, Setting Stage for 2026 Inclusion and Potential Capital Inflows

Published: 2025-10-08

FTSE Russell has reclassified the local stock market from Frontier to Secondary Emerging, with effectiveness slated for September 21, 2026, pending a mid-cycle review in March 2026 focused on global broker access and index replication mechanics. The upgrade follows regulatory moves eliminating pre-funding for offshore institutions and formalizing failed-trade handling, alongside broader infrastructure modernization. Estimates of prospective inflows range widely: FTSE-linked passive allocations could reach roughly $1–2 billion, while active funds may lift total inflows to $5–10 billion over phases, according to banks and brokerages. Short term, analysts flag potential portfolio rotations and profit-taking before passive index buys begin; large-cap, high-liquidity names are seen as key beneficiaries. Authorities signal continued reforms toward CCP, intraday trading, and possible foreign ownership easing, with an eye to MSCI Emerging status later this decade.

"This milestone is the beginning of a new phase that demands deeper, broader reforms to achieve long-term goals." - State Securities Commission representative (vietnamplus.vn)

"Removing the ‘frontier’ label will reshape investor behavior and the market’s long-term trajectory." - Gary Harron, Head of Securities Services, HSBC Vietnam (vietnamplus.vn)

"Don’t expect a miracle rally—this is a ‘certificate’ that we meet international standards, and now we must compete." - Nguyen Duy Hung, Chairman, SSI (vneconomy.vn)

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Gold Hits Record as SJC Bars Reach 142.5 Million VND; New Rules to Loosen Monopoly and Enable Imports

Published: 2025-10-08

Vietnam’s gold market surged to fresh records on October 8, with SJC bullion quoted up to 142.5 million VND per tael and rings above 141 million. Domestic prices widened gains following global gold’s first break above $4,000/oz, driven by safe-haven flows, U.S. government shutdown delays of key data, and expectations the Fed will cut rates again this year. The domestic premium versus global benchmarks narrowed but remains sizable at roughly 11–14 million VND/tael. SJC in Ho Chi Minh City shifted to online pre-registration for bullion purchases to manage crowds, while Hanoi outlets continued over-the-counter sales subject to inventory. A regulatory pivot arrives October 10 as Decree 232 takes effect, ending the state’s sole control over bullion and enabling licensed banks and firms to import gold and produce bars under strict capital requirements, with guidance due from the central bank.

"The new rules will ensure the gold market operates more effectively and meets real demand, with transparent, public information," - Dao Xuan Tuan, Director of the Foreign Exchange Management Department, State Bank of Vietnam (dantri.com.vn)

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Gold Breaks $4,000/Oz as Rate-Cut Bets, Safe-Haven Demand and Central Bank Buying Intensify

Published: 2025-10-08

Global gold prices set fresh records, with spot briefly topping $4,002/oz and US December futures closing above $4,000, following mounting expectations the Fed will cut rates by 25 bps this month and again in December. A week-long US government shutdown has delayed key data, pushing investors to secondary indicators, while political turbulence in France and Japan, and ongoing conflicts in Ukraine and Gaza, amplified flight-to-safety flows. China’s central bank extended its gold-buying streak to an 11th month in September, reinforcing a demand base alongside strong inflows into Western gold ETFs. Analysts increasingly flag $5,000/oz as a medium-term target given heavy public debt, reserve diversification, and a softer dollar. In Vietnam, SJC bullion was quoted around VND 138.6–140.6 million per tael in morning trade on Oct 8, with later quotes approaching VND 142 million.

"Investors keep buying even at elevated levels, which further fuels the rally." - Giovanni Staunovo, UBS (vietnamplus.vn)

"Markets are starting to look toward the next milestone at $5,000/oz, especially if the Fed keeps cutting rates." - Tai Wong, independent metals trader (vnexpress.net)

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Tax Authorities Pledge Supportive Rollout as 5 Million Households Shift from Lump-Sum to Self-Declared Taxation in 2026

Published: 2025-10-08

Vietnam will end lump-sum (khoán) taxation for more than 5 million household businesses on 1 January 2026, moving to self-declaration based on actual revenue. Tax officials stress the reform aims to ensure fairness and transparency, not to raise revenue, with simplified procedures, e-invoices, and upgraded eTax Mobile tools. Sector concerns include costs, error risks, inventory tracking, and sourcing without invoices (e.g., farm inputs). Authorities signal leniency during transition, acceptance of supplier lists in lieu of invoices for small farm purchases, and potential end-of-day invoice aggregation solutions under review. Pilot data show growing adoption: 18,500 households shifted to self-declaration and 2,530 upgraded to enterprises through September. Local governments and ministries plan training, software discounts, and hands-on support at markets to overcome digital skill gaps.

"This policy does not aim to increase budget revenue; it builds a foundation for sustainable, transparent growth of household businesses." - Mai Son, Deputy Director General, General Department of Taxation (tuoitre.vn)

"We will not penalize initial mistakes; tax officers will focus on guiding households to adapt to the new system." - Mai Son, Deputy Director General, General Department of Taxation (vnexpress.net)

"The biggest challenge isn’t technology but habits and mindset in traditional trading." - Nguyen Thanh Nam, Deputy Director General, Domestic Market Management Department, Ministry of Industry and Trade (vneconomy.vn)

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Strategic Investment Momentum Builds with Record FDI and Push for Localized Production

Published: 2025-10-08

Vietnam is consolidating its status as a safe, strategic destination for international capital, supported by political stability, pro-business reforms, and integration into global supply chains. Chinese strategist Nghiem Kien Hoa said reforms have reduced development costs and increased efficiency, forecasting a shift by Chinese firms from simple processing to localized production, value-chain integration, and long-term operations targeting regional export platforms. He suggested the current trajectory could position the country among Asia’s most dynamic economies over the next two decades. Registered FDI reached $28.54 billion by Sept. 30, up 15.2% year-on-year, while realized FDI hit $18.8 billion—the highest nine-month figure in five years. Broader investment rose 11.6% in the first nine months, reflecting sustained private and public sector engagement.

"Vietnam offers political stability, rapid growth, and a supportive government—key reasons we can treat it as a second home in our development strategy." - Nghiem Kien Hoa, Chairman, Professional Strategy Research Institute (vietnamplus.vn)

"The ultimate goal is to develop the country into a regional production and R&D hub, expanding across Southeast Asia and globally." - Nghiem Kien Hoa, Chairman, Professional Strategy Research Institute (vietnamplus.vn)

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HCMC Budget Revenue Tops VND 570 Trillion as Growth Accelerates and Public Investment Ramps Up

Published: 2025-10-08

Ho Chi Minh City reported VND 570.3 trillion (US$22.6 billion) in budget revenue for the first nine months of 2025, achieving 81.8% of the annual target and rising 15.6% year-on-year. GRDP grew 8.11% in Q3, with services up 8.58%, industry and construction up 7.74%, and agriculture up 3.14%. Domestic revenue reached VND 405.3 trillion, crude oil VND 35.1 trillion, and trade-related collections VND 129.8 trillion. Land- and housing-related revenue contributed 10.5% of total intake, surging 263% year-on-year. Public investment disbursement climbed over 50% to VND 87.8 trillion, meeting 57.5% of the city’s 2025 plan. Key projects advance: HCMC–Moc Bai Expressway begins main works in October 2025; Ring Road 3 targets partial opening in December 2025 and full opening mid-2026; Metro Line 2 aims to start main construction late 2025; Bien Hoa–Vung Tau (Phase 1) plans December 2025 opening; Long Son–Cai Mep road nears year-end completion.

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Khanh Hoa Proposes Three Pilot Free Trade Zones with Land-Lease Exemptions

Published: 2025-10-08

Khanh Hoa province has proposed piloting three free trade zones for 2025–2030 tied to key gateways: Van Phong Economic Zone (linked to Van Phong Port), the southern coastal economic zone (linked to Ca Na Port), and an area around Cam Ranh International Airport. The plan envisions fenced functional subzones with customs controls, testing advanced policies and administrative modernization. The province seeks delegated authority to approve most investment projects within the zones and proposes special procedures allowing land allocation and leasing without auctions (except for market-based commercial housing). Land could be recovered for projects as in cases serving national or public interest, updated in subsequent land-use plans. Investors would receive broad incentives, including full land and water surface rent exemptions for project lifetimes (with limits for commercial housing and service land), plus tax and customs benefits.

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Two-Part Electricity Tariff Pilot Launches for High-Usage Customers in October

Published: 2025-10-08

The Ministry of Industry and Trade has directed EVN to pilot a two-part electricity tariff starting this month for roughly 7,000 large users consuming over 200,000 kWh monthly. The model adds a capacity charge based on registered kilowatts alongside energy consumption, aiming to reflect grid and asset costs more accurately and encourage demand optimization. Authorities will assess results before deciding broader rollout, with a four-phase roadmap under study as Vietnam advances power market reforms. EVN says existing smart metering and data systems can support 30-minute capacity tracking, enabling implementation.

"We are instructing EVN to quickly pilot the two-part tariff from October" - Tran Hoai Trang, Deputy Director, Electricity Regulatory Authority (vnexpress.net)

"This is the most accurate method to meet load needs, and current infrastructure can measure capacity every 30 minutes" - Nguyen Quoc Dung, Head of Business, EVN (vnexpress.net)

Costs may rise or fall depending on usage patterns, so officials stress a phased approach and communication to build consensus.

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Business Group Urges Tighter Tax Criteria for ‘Green’ Cars in Draft Excise Decree

Published: 2025-10-08

Vietnam’s Chamber of Commerce and Industry (VCCI) has urged the Finance Ministry to refine tax incentives for “green” vehicles in the forthcoming decree guiding the revised Special Consumption Tax, set to take effect on January 1, 2026. VCCI recommends aligning hybrid definitions with Transport Ministry Circular 53/2024 by separating mild hybrids (MHEV), full hybrids (FHEV/SHEV), and plug-in hybrids (PHEV), and limiting incentives to FHEV/SHEV and PHEV to deter “pseudo-green” models. It also calls for clear methods to calculate the 70% gasoline energy cap for hybrids, detailed documentation for biofuel blends, and contingency rules where fuels like E30/E50 are not yet available domestically. VCCI further urges early inter-agency work to publish baseline fuel consumption data for conventional cars to ensure timely implementation and transparent eligibility checks.

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Crypto Token Busts Expose Unregulated Market as Retail Participation Surges

Published: 2025-10-08

Vietnam’s crypto scene shows massive retail participation alongside heavy losses in locally issued tokens. Projects such as Viction (formerly TomoChain), Kyber Network, Axie Infinity, and AntEx/Rabbit saw token prices plunge 90%+ from peaks, while police continue to bust alleged scams like iFan/Pincoin and the 2024 Maxx Group NFTs. Analysts say over 90% of tokens launched in 2020–2022 have lost value or gone inactive, reflecting an unregulated, issuer-driven market where pricing and supply lack third-party oversight. Chainalysis ranks the country fifth globally by crypto ownership, and Triple-A estimates around 17 million users, with inflows of roughly $120 billion in July 2022–June 2023. Experts urge a regulated pilot for tokenized assets to mitigate risks and protect investors.

"Most token issuances have been spontaneous; without recognition or oversight, investors shoulder all risks. A pilot market for digital assets would help reduce these risks." - Dr. Dang Minh Tuan, Chairman, Vietnam Blockchain Union (thanhnien.vn)

"Bringing digital assets into a supervised framework will improve transparency and investor protection." - Vo Do Thang, Director, Athena Cybersecurity Center (thanhnien.vn)

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Luxury Condo Project The Privé Draws Strong Interest from Foreign Buyers in Ho Chi Minh City

Published: 2025-10-08

Dat Xanh Group’s high-end compound The Privé in Nam Rạch Chiếc is registering notable transactions from foreign buyers, reflecting a geographic shift in expatriate housing preferences within Ho Chi Minh City. After earlier waves favoring Districts 1–3, then Phu My Hung, followed by Thao Dien and An Phu, demand is consolidating in Nam Rạch Chiếc, a newly developed hub adjacent to Thu Thiem’s emerging international financial center. The project stands out for clear legal status allowing direct sales to foreigners—still rare in the primary market—plus a “single-price” policy for domestic and overseas buyers. Connectivity to metro links, Mai Chi Tho Boulevard, Hanoi Highway, and expressways, along with access to Tan Son Nhat and future Long Thanh airports, enhances appeal. The enclave offers low-density planning, flood-resistant siting, privacy-focused floorplates, and resort-grade amenities, aligning with international luxury standards.

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Tax Authorities Outline Support as 5 Million Household Businesses Shift from Lump-Sum to Self-Declared Taxation

Published: 2025-10-08

Vietnam is accelerating the shift of more than 5 million household businesses from lump-sum tax to self-declaration by end-2025, targeting full compliance from January 1, 2026. The Ministry of Finance proposes free digital platforms: common-use accounting software, e-invoice tools linked to cash registers, and digital signatures, plus 100% state-funded training in accounting, tax, and HR for micro and small entities. Tax officials say draft amendments to the Tax Administration Law will “take taxpayers as the center,” streamline filings via data sharing, and roll out simple accounting regimes. Local traders welcome transparency but fear costs and penalties; banks urge a one-year transition without fines and no retroactive tax collection. A HCMC official called for clear flyers and hotlines to guide older traders.

"Our overarching goal is to shift from control to service, putting taxpayers at the center and strengthening risk management." - Mai Son, Deputy Director General, General Department of Taxation (tuoitre.vn)

"The state must intervene so software and technical services are affordable—some quotes of VND 7–8 million per month are too high for small traders like me." - Nguyen Thi Bich, trader in An Dong Ward (tuoitre.vn)

"Providing free accounting software for all household businesses will significantly cut costs and ease the transition." - Nguyen Thi Cuc, Chair, Vietnam Tax Consultants Association (tuoitre.vn)

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Diplomacy

Hanoi to Host UN Cybercrime Convention Signing as Vietnam Aligns Laws and Builds 24/7 Cooperation Mechanism

Published: 2025-10-08

Hanoi will host the UN Convention against Cybercrime signing and high-level meetings on October 25–26, marking the first time a global multilateral treaty in this field bears a Vietnamese place name. Nearly 100 countries and over 100 international and regional organizations have registered. The convention (9 chapters, 71 articles) establishes a global legal framework for cooperation on data exchange, extradition, and asset recovery. Vietnam plans swift alignment: merging the 2015 Law on Cyberinformation Security with the 2018 Cybersecurity Law, updating criminal procedure, and setting up a 24/7 cooperation channel. A national Steering Committee led by Deputy Prime Minister Bui Thanh Son has been formed with six subcommittees to coordinate logistics, protocol, security, and outreach. Authorities report more than 100,000 cyber incidents in 2024, with organized, cross-border attacks increasingly targeting critical systems and sophisticated online fraud schemes.

"We will merge the Cybersecurity Law with the Cyberinformation Security Law and establish a 24/7 cooperation mechanism required by the Convention." - Maj. Gen. Le Xuan Minh, Head of A05, Ministry of Public Security (vietnamplus.vn)

"Hanoi’s inclusion in the text reflects recognition of Vietnam’s contributions and helps affirm our role in shaping international legal norms." - Deputy Foreign Minister Dang Hoang Giang (vnexpress.net)

"The Convention is a springboard for Vietnam to become a regional hub for cybersecurity investment and R&D." - Deputy Minister of Public Security Pham The Tung (vietnamplus.vn)

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Hanoi Signals Progress on Reciprocal Tariff Talks with U.S. as Shutdown Slows Timeline; New FTAs Pushed and Trade Nears $900 Billion

Published: 2025-10-08

Vietnam’s Ministry of Industry and Trade reported “very positive” momentum in negotiations with the United States on reciprocal tariffs, noting Washington’s August 1 order cut Vietnam’s rate from 46% to 20%. Planned Vietnamese delegations to the U.S. in October–November 2025 aim to finalize a framework aligned with the Comprehensive Strategic Partnership, though the U.S. government shutdown is delaying scheduling. The ministry also outlined a late-2025 push to launch FTA talks with Mercosur and the GCC, start negotiations with Pakistan, and conclude the Vietnam–EFTA FTA. Nine-month trade reached $680.6 billion (+17.3% y/y), with exports at $348.7 billion (+16%) and a $16.8 billion surplus, putting annual trade on track to approach $900 billion.

"The U.S. side has given many positive assessments of the reciprocal trade tax negotiations between the two countries." - Nguyen Sinh Nhat Tan, Vice Minister of Industry and Trade (tuoitre.vn)

"We will continue to closely monitor U.S. tariff policy and work with counterparts to address issues and limit adverse measures on Vietnamese goods." - Bui Huy Son, Director General, Planning–Finance & SOE Management Department (vietnamplus.vn)

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Infrastructure

Industry Ministry Clarifies Rooftop Solar Rules, Plans Incentives and Online One-Stop Notifications

Published: 2025-10-08

Vietnam’s Industry and Trade Ministry reaffirmed that rooftop solar for self-consumption only requires a simple notice to local power authorities, not a permit, with the goal of grid planning and safety rather than control. Officials said most households remain connected to the national grid and still rely on EVN power outside sunny hours, so capacity data is needed for system balancing. A forthcoming decision aims to streamline procedures, enable sales of surplus electricity to EVN, and open concessional finance via the Vietnam Bank for Social Policies—indicatively around VND 40 million loans at 7–8% and grants of VND 2–3 million. Authorities are targeting 50% household and public-building adoption by 2030 and are moving toward online submissions through a single local portal.

"We want rooftop solar to grow, and there is no reason to make it difficult; people just need to notify so the power sector can plan appropriately." - Nguyen Sinh Nhat Tan, Vice Minister of Industry and Trade (tuoitre.vn)

"The mechanism is notification—not a licensing or ‘ask-give’ process—with simplified, single-dossier online steps." - Bui Quoc Hung, Deputy Director, Electricity Regulatory Authority (vietnamplus.vn)

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Ho Chi Minh City Clears Temporary Curbside EV Chargers at Paid Street Parking Zones

Published: 2025-10-08

Ho Chi Minh City approved a pilot to install electric-vehicle charging stations within paid, curbside parking zones, starting with three sites: two clusters (12 chargers) at Khánh Hội Park and three chargers on Huyền Trân Công Chúa Street. The Department of Construction directed V-Green to integrate chargers into existing public light poles where street activity could be affected and to minimize sidewalk encroachment. V-Green will coordinate with municipal service firms to finalize sites and permitting this month, while 28 additional locations are under review. The city is prioritizing public land for EV infrastructure and considering auction-based leasing for state plots designated for charging. This move complements broader plans for 19 large bus-charging hubs and 750–1,338 public stations over five years, supporting a shift to green transport and maintaining existing street-parking fee collection mechanisms.

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Published: 2025-10-08

Ho Chi Minh City is fast-tracking a coastal development push centered on Cần Giờ, with proposals and approvals converging for an international transshipment port (US$5 billion, 571ha; phase 1 from 2027), a 7km Cần Giờ bridge before 2030, and a Vingroup-backed metro (48.7km; targeted 2026–2028) that would cut travel to roughly 16 minutes. The city has ordered an accelerated appraisal of Vingroup’s proposed sea-crossing link to Vũng Tàu. A 2,870ha US$9 billion land-reclamation tourism city, launched in April, underpins plans to draw 8–9 million visitors annually and anchor a Cần Giờ–Cái Mép–Thị Vải port ecosystem. Experts urge multimodal integration via an extended Ring Road 4 coastal corridor to connect Gò Công–Cần Giờ–Vũng Tàu and link to Long Thành Airport. Property prices are surging on speculation, prompting caution that payoffs remain medium to long term.

"Infrastructure must move faster than everything else." - Dr. Arch. Ngo Viet Nam Son, urban planner (tuoitre.vn)

"Projects that strategic investors can deliver should be left to the private sector, with maximum procedural support." - Le Hoang Chau, Chairman, HoREA (tuoitre.vn)

"Investors should view Cần Giờ as a medium‑ to long‑term play rather than chase short waves." - Cao Thi Thanh Huong, Senior Manager, Savills Vietnam (com.vn)

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JICA Scales Up Urban Flood and Wastewater Projects with Yen Xa Launch and Sabo Expansion

Published: 2025-10-08

Japan’s development agency JICA is intensifying climate-resilience support after Hanoi’s Yen Xa wastewater treatment plant entered operation in September. With 270,000 m3/day capacity—nearly equal to seven of the capital’s existing facilities combined—the plant anchors a 43 km collection system along the To Lich and Lu rivers, including 24 km of microtunneling. JICA is assessing similar wastewater projects in Ho Chi Minh City and Hue; last year it helped lift Binh Hung (HCMC) to nearly 470,000 m3/day, the country’s largest. Mountain provinces will see expanded disaster-mitigation works, including Sabo dams after a first site in Son La went live in April, with ministries planning around 100 installations nationwide. JICA also aligns financing and technical assistance to four reform pillars: science and technology, international integration, legal development, and private-sector growth.

"We hope the To Lich drainage and pipelines around the Yen Xa plant will help reduce flood damage in Hanoi." - Kobayashi Yosuke, JICA Vietnam Chief Representative (tuoitre.vn)

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Vietcombank Extends Over US$1 Billion in Credit to Petrovietnam for Block B–O Mon Gas-to-Power Chain

Published: 2025-10-08

Vietcombank signed two medium- and long-term credit agreements exceeding US$1 billion with Petrovietnam to finance the Block B48/95 and 52/97 gas field development and the Block B–O Mon gas pipeline. The financing, among the largest in Vietnam’s energy sector, advances a flagship domestic gas supply for Mekong Delta power plants, aligning with the revised Power Development Plan VIII and the government’s COP26 commitments. The deal underscores a shift toward mobilizing domestic capital as international lenders curb fossil-fuel financing. Government backing from the Prime Minister’s Office, State Bank of Vietnam, and Ministry of Finance facilitated the arrangement.

"Vietcombank’s role in arranging over US$1 billion shows strong financial capacity and responsibility in advancing energy security and sustainable development goals." - Deputy Prime Minister Ho Duc Phoc (vneconomy.vn)

"State-owned groups and banks can now stand on their own feet to deliver region-scale projects with domestic resources and expertise." - Nguyen Thanh Tung, Chairman, Vietcombank (vneconomy.vn)

"This structure replaces external foreign-currency loans with more competitive terms and better risk control and repayment." - Le Manh Hung, Chairman, Petrovietnam (vneconomy.vn)

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Hanoi Flooding Exposes Drainage Gaps and Loss of Lakes After Rapid Urbanization

Published: 2025-10-08

Two major downpours within a week left widespread flooding across Hanoi, spotlighting structural weaknesses in drainage and the long-term loss of retention lakes during urban expansion. Readers cited bottlenecks at street-level grates, inconsistent drainage design, and the paving over of fields and ponds in formerly rural districts. Several urged stronger emergency response, coordinated pumping, and a citywide audit to correct capacity mismatches and clogged connections. Others pressed for mandatory retention lakes in new developments and construction of large underground reservoirs.

"We’ve paved over most of the city, leaving no permeable ground, and lakes have been filled, so there’s nowhere for rainwater to go." - Le Hoang (com.vn)

"Every new urban area should be required to build retention lakes with enough capacity for heavy rains." - Tuan Anh (com.vn)

"Set up a comprehensive team to review the entire drainage network and redesign priority flood hotspots with experienced engineers." - Tran Thanh Thanh (com.vn)

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Ho Chi Minh City Advances Plan to Modernize Cai Mep–Thi Vai into National Transshipment Hub

Published: 2025-10-08

Ho Chi Minh City moved forward with a draft plan to expand and modernize the Cai Mep–Thi Vai gateway into Vietnam’s largest international transshipment port with regional reach. The proposal envisions a “digital megaport” model and an integrated logistics ecosystem spanning Cai Mep–Thi Vai–Can Gio, including a national logistics center and a free trade zone at Cai Mep Ha built to top global standards. Sustainability is embedded, targeting green port operations and environmental protection alongside investment and operations. The draft outlines infrastructure, transport connectivity—linked to a strategic Bàu Bàng–An Bình–Cai Mep rail corridor—digitalization, and technology upgrades. Deputy Chairman Nguyen Van Tho directed planners to incorporate updated national and city policies, consolidate data following recent administrative changes, clarify current transshipment volumes at Can Gio and Cai Mep–Thi Vai, and provide more detailed, evidence-based solutions.

"The consulting unit must update new data after the merger of three localities and clarify current transshipment volumes for Can Gio and Cai Mep–Thi Vai." - Nguyen Van Tho, Standing Vice Chairman, HCMC People’s Committee (tuoitre.vn)

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HCMC–Long Thanh Expressway Installs Barriers as Expansion Works Begin

Published: 2025-10-08

The operator VECE will start installing temporary barriers on the HCMC-bound emergency lane toward Dong Nai, then extend them along both directions as the 22-km expansion progresses. Speed limits at work zones drop to 60 km/h with advance traffic rerouting. Construction will leverage portions of emergency lanes due to land constraints, with strict site access controls, off-peak girder launching (22:00–05:00), and measures to curb dust, noise, and debris. The VND 16.3 trillion emergency project, launched on August 19, upgrades the corridor from HCMC’s Ring Road 2 interchange to the Bien Hoa–Vung Tau expressway node. The 55-km route currently has four lanes and faces weekend and holiday congestion with 60,000–70,000 vehicles daily. Completion is slated for late 2026, with Long Thanh Bridge in Q1 2027, easing eastern gateway bottlenecks and strengthening access to Long Thanh Airport expected to open mid-2026.

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Airports Adopt VNeID Biometric Travel as Long Thanh Megaproject Targets 2025 Launch

Published: 2025-10-08

State airport operator ACV will enable passengers to use the national digital ID app VNeID for end-to-end air travel processes starting early December, replacing physical IDs and boarding passes with facial or fingerprint authentication linked to the platform. ACV says the move will streamline check-in and security while strengthening aviation security, though it requires robust data protection, upgraded infrastructure, and user retraining. ACV is reconfiguring self-service kiosks, upgrading biometric systems, and intensifying staff training. In parallel, ACV is advancing the Long Thanh International Airport megaproject: Phase 1 aims to open on December 19, 2025 with capacity for 25 million passengers and 1.2 million tons of cargo, scaling to 100 million passengers and 5 million tons. Success hinges on synchronized road and rail links to avoid isolation and on positioning Long Thanh as a smart, green “airport city” to attract leading hub carriers.

"From early December, passengers at ACV-managed airports can use VNeID to verify identity instead of showing ID cards or tickets." - Pham Quang Hieu, Deputy Head of Technology, ACV (vneconomy.vn)

"Long Thanh is a strategic lever to drive growth in the economy, tourism, and logistics." - ACV representative (vneconomy.vn)

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Environment

Record Flooding Traps Thousands in Thai Nguyen as Rescue Access Falters and Power Cuts Persist

Published: 2025-10-08

Severe flooding in Thai Nguyen escalated overnight on Oct. 7–8, with the Cau River surpassing historic crests recorded after Typhoon Yagi. Authorities reported multiple fatalities and missing persons, widespread isolation across urban wards and rural communes, and sustained power and communications outages. Rapidly rising waters—up to 3–5 meters in some neighborhoods—forced residents onto rooftops, while rescue boats struggled against deep, fast currents and submerged road markers. Emergency teams prioritized low-rise homes and vulnerable groups. Social media became a lifeline as families shared GPS locations and pleaded for food, water, and evacuation. Local accounts underscored the scale and speed of the disaster and the strain on rescue capacity.

"The water rose unbelievably fast; in just a few hours everything was submerged." - Dam Quang Tuyen, Vice Chairman, Vietnam Fatherland Front Committee of Thai Nguyen (vnexpress.net)

"Please, send a rescue boat—our phones are dead and the water is at the second floor." - Trần Ngọc Hà, relative of stranded residents (tuoitre.vn)

"This is truly a historic flood; the water is fierce and hard to reach." - Trần Đại Cương, volunteer rescue leader (thanhnien.vn)

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Record Flooding Submerges Thai Nguyen as Cau River Peaks; 200,000 Homes Affected and Dyke on Alert

Published: 2025-10-08

Northern Vietnam faces severe flooding following Storm Matmo’s remnants, with the Cau River at Thai Nguyen’s Gia Bay station cresting at 29.9 m—2.9 m above alarm level 3 and 1.09 m higher than 2024’s Yagi peak. Authorities report 4 deaths, 2 missing, widespread power cuts and access disruptions, and roughly 200,000 homes inundated. Over 7,100 ha of crops and aquaculture are damaged; more than 136,000 poultry lost. Central Thai Nguyen districts, including typically safe downtown areas like Vo Nguyen Giap Square, flooded deeply; evacuations continue by military and police using boats. The agriculture ministry ordered emergency anti-overtopping measures for the Ha Chau dyke as downstream levels rise, while forecasters warn urban flooding could persist 3–5 days due to slow drainage.

"This is an unprecedented impact; stop all meetings and focus all forces on rescue and recovery." - Trinh Xuan Truong, Thai Nguyen Party Secretary (com.vn)

"Urban inundation in central areas may last 3–5 days, even up to a week in places, as water drains slowly." - Nguyen Anh Tuan, Director, Thai Nguyen Hydrometeorological Station (tuoitre.vn)

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Northern Rivers Swell to Historic Levels; Hanoi, Provinces Order Emergency Dike Defense and Evacuations

Published: 2025-10-08

"Use every means to reach deeply flooded areas to deliver food; no resident should go hungry or thirsty." - Tran Sy Thanh, Chairman of Hanoi People’s Committee (tuoitre.vn)

Record and near-record flooding is sweeping the northern river system following post-storm rains, with the Cau River at Thai Nguyen cresting 1.09 m above its 2024 historic peak and the Thuong River forecast to surpass its 1986 record. Authorities warn of level-3 disaster risk, prolonged inundation (2-4 days) in Thai Nguyen, Bac Ninh, Lang Son and Cao Bang, and heightened threats of landslides and dike failures. National and local commands ordered 24/7 patrols, emergency reinforcement of weak dike segments, and rapid evacuations from low-lying and riverbank zones. Hanoi activated dike defense on the Cau and Ca Lo corridors and coordinated inter-reservoir operations. Transport, agriculture, power, and urban services face disruption as thousands of homes flood and targeted school closures continue while rainfall gradually eases.

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Ho Chi Minh City Plans Low-Emission Zones from 2026 with Phased Restrictions and Incentives

Published: 2025-10-08

Ho Chi Minh City is preparing to launch Low-Emission Zones (LEZ) from early 2026 in the downtown area bounded by key bridges and arteries, and along Rung Sac Road in Can Gio. Initial steps will restrict non-compliant ride-hailing, freight, and commercial fuel vehicles from entering the core zone, with broader motorcycle emissions testing set for 2027–2030 and expansion to Ring Road 1 by 2031. Authorities will install 67 automatic number-plate cameras in the center and 9 on Rung Sac to enforce standards. Officials stress a gradual, incentive-led transition that prioritizes buses, taxis, and ride-hailing fleets, coupled with financial aid: fee waivers for electric commercial vehicles, partial road-maintenance and plate-change fee reductions, cash support for new motorcycles, loan interest subsidies, and higher support for low-income households.

"Fuel vehicles that meet standards will still be allowed to operate; we will proceed step by step based on public consensus." - Bui Hoa An, Deputy Director, HCMC Department of Construction (tuoitre.vn)

"We hope compliant gasoline vehicles can continue operating during the transition to safeguard drivers’ livelihoods." - Representative, Grab Vietnam (tuoitre.vn)

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Northern Highlands Reel from Post-Storm Flooding; Emergency Funds Deployed as Infrastructure Strains

Published: 2025-10-08

Heavy rains following Tropical Storm Matmo triggered severe flooding and landslides across northern provinces, with Cao Bằng, Thái Nguyên, Lạng Sơn, and Bắc Ninh hardest hit. Authorities report 13 dead or missing and seven injured; roughly 16,900–17,000 homes flooded, over 700 severely damaged, and about 22,600 hectares of crops inundated. Cao Bằng alone tallied more than 7,000 affected homes, over 5,000 hectares of crops flooded, and extensive road and bridge damage; a magnitude-3.4 quake was also recorded. Hydropower vulnerability surfaced as Lạng Sơn’s Bắc Khê 1 dam failed, though 803 households were evacuated in time. National rivers reached or exceeded historic flood levels, disrupting highways and the Hanoi–Đồng Đăng rail line. The central government released 140 billion VND in emergency funds for four provinces and ordered round-the-clock dike and reservoir safety measures.

"We are prioritizing life safety, relocating residents from high-risk areas and reinforcing critical dikes immediately" - Prime Minister Phạm Minh Chính (baotintuc.vn)

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Innovation

AI-Enabled Traffic Cameras in Ho Chi Minh City Flag 3,100 Violations in First Month

Published: 2025-10-08

Ho Chi Minh City’s traffic police (PC08) report that 31 AI-powered cameras installed at key intersections are automatically detecting violations around the clock, capturing over 3,100 cases in one month. Offenses include running red lights, lane violations, speeding, failing to wear seatbelts, and mobile phone use while driving. Data—vehicle images, owner details, time, location, and fines—flows to a central center for verification before citations are issued. Authorities stress that turning left on red into one-way streets is illegal unless permitted by auxiliary signals or green arrows; right turns are only allowed where road markings or dedicated signals indicate. Violators must pay fines via treasury offices or electronic channels. The system also records improper stopping beyond stop lines and wrong-way travel on corridors like Nguyễn Thị Minh Khai. No official quotes were provided in the source report.

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Southeast Asia Faces Digital Fraud Crisis with $23.6 Billion in Losses, Report Finds

Published: 2025-10-08

A new 2025 report by the Global Anti-Scam Alliance, ScamAdviser, and BioCatch classifies digital fraud across Southeast Asia as a crisis, estimating total losses at $23.6 billion. Nearly two-thirds of adults have been targeted or victimized; average losses per victim reach $660, rising to over $2,100 in Singapore and $1,000 in Malaysia. The study highlights a rapid increase in sophisticated schemes and psychological harm, with many cases linked to bank transfers (48%) and e-wallets (36%). Underreporting remains substantial, as up to a quarter of victims in some countries stay silent. In Vietnam, smartphones used for banking, wallets, and messaging apps are prime attack vectors leveraging AI voice/video spoofing and fake app downloads to capture authentication codes.

"The channels people trust and use most are the ones scammers exploit the most—calls, SMS, and messaging apps; for office workers, also websites." - Ngo Tran Vu, CEO, NTS Security (vneconomy.vn)

"Most adults use smartphones for banking or e-wallets but browse and chat without protection, effectively turning themselves into targets." - Ngo Tran Vu, CEO, NTS Security (vneconomy.vn)

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Banks Deploy Real-Time Fraud Defenses as Scams Exploit National Day Gift Scheme

Published: 2025-10-08

Vietnamese banks are ramping up automated fraud defenses following a wave of scams leveraging a fake VND100,000 “National Day gift” and spoofed government or bank calls demanding OTPs. ACB has built multi-layer, real-time controls that flag suspicious beneficiaries, halt transactions, and guide users to verify details. The bank pairs machine-led anomaly detection and risk scoring with a dedicated human response team across call centers, branches, and tech units. The approach reportedly blocked over 20,000 fraudulent transactions and safeguarded nearly VND1,500 billion in the first half of 2025. ACB’s interventions are illustrated by a customer whose transfer was frozen after an OTP entry to a spoofed hotel payment page, preserving VND42 million. Authorities report 4,500 phishing domains and around VND1,660 billion in losses in H1 2025, underscoring that user vigilance remains critical alongside technology.

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AI Talent Shortage Becomes Strategic Fault Line for Vietnam’s Banking Sector

Published: 2025-10-08

Vietnamese banks are accelerating AI adoption in RPA, data analytics, risk and AML, and customer service, but a widening talent gap threatens execution. Sector employers cut 3,445 roles in H1 2024 as automation advances, reflecting efficiency drives. Experts at an Oct. 8 forum said demand for AI roles—data science, ML/GenAI, AI ops, cybersecurity—will surge 74% in 2025–2030, while supply remains thin and skills uneven across universities and in-house teams. Agribank and Vietcombank outlined differentiated pay, global consulting partnerships, and flexible workplaces to attract specialists. Training institutions and banks are urged to co-develop curricula, internships, and capability frameworks to close gaps and safeguard compliance, fraud management, and digital customer growth.

"AI talent is crucial in data governance, risk modeling, fraud, digital customers, and compliance; banks are urgently seeking data engineers, data scientists, ML/DL and GenAI/NLP experts." - Dr. Phan Thanh Duc, Banking Academy (vietnamplus.vn)

"AI brings opportunity but also replaces many jobs, reshaping bank workforce structures and culture." - Nguyen Thi Thu Ha, Director, Agribank Training School (vietnamplus.vn)

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VinFast’s EB8 and EB12 Debut at Busworld Europe 2025 with Belgian Supply Deal, Spotlighting Public-Transit Electrification

Published: 2025-10-08

VinFast drew strong attention at Busworld Europe 2025 in Brussels, unveiling EB8 and EB12 electric buses designed for European cities and announcing a supply contract in Belgium—an important signal of Vietnam’s entry into the global e-bus value chain. The 25th edition gathered 550 firms from 40 countries, underscoring a rapid shift toward low-emission fleets and industry restructuring as production migrates beyond the EU, notably to Turkey and Poland. Organizers noted consolidation pressures as smaller manufacturers face rising R&D and material costs. Industry voices framed electrification as both inevitable and economically compelling.

"Electric is now an irreversible trend. Most European clients demand low-emission solutions." - Cyril Carpenter, Sales Lead, Mona Energy (baotintuc.vn)

Retrofit solutions, hydrogen options for longer routes, and safety and grid-capacity constraints rounded out the agenda. VinFast’s Belgian deal positions it among established players like Solaris, MAN, and Daimler while aligning with Vietnam’s COP26 net-zero commitments.

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Global Innovation Summit to Spotlight AI, Smart Manufacturing and Green Finance in Ho Chi Minh City

Published: 2025-10-08

Vietnam Innovation Summit 2025 will convene 3,000+ delegates and 150 experts from 30 countries in Ho Chi Minh City on November 6–7, aiming to translate trend analyses in AI, fintech, ESG, smart manufacturing, and green finance into actionable solutions for local firms. The program includes a strategy forum, deep-dive sector tracks, an innovation solutions expo, and investor–corporate matchmaking to catalyze partnerships and market expansion. International stakeholders underscore Vietnam’s role in regional supply chains and its demographic and policy advantages in high-tech fields.

"Vietnam is playing a pivotal role in the regional value chain and could become a logistics and manufacturing hub." - Ted Osius, President and CEO, US-ASEAN Business Council (thanhnien.vn)

"Vietnam holds major advantages thanks to a young, dynamic workforce and long-term government policies, especially in AI, semiconductors, and smart manufacturing." - Peter Mok, CEO, Qianhai Shenzhen–Hong Kong Youth Innovation and Entrepreneur Hub (thanhnien.vn)

"VIS 2025 is not only a forum but an action platform to help companies digitize, go green, and scale internationally." - Huỳnh Công Thắng, Founder, InnoLab Asia (thanhnien.vn)

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National Spectrum Plan Overhaul Sets Bands for 5G/6G, Wi‑Fi 6E/7 and LEO Satellites

Published: 2025-10-08

The Prime Minister signed Decision 37/2025/QĐ-TTg on October 3, replacing Vietnam’s 2013 spectrum plan and aligning allocations with outcomes of WRC‑23. The revision updates 65 bands, adds 23 notes, and modifies 77, positioning key ranges for next‑gen networks. The 3400–3560 MHz and 6425–7125 MHz bands are earmarked for IMT (5G/6G), with the latter viewed as future 6G “prime” spectrum; 5925–6425 MHz opens for Wi‑Fi 6E/7; and 600 MHz is reserved for mobile after digital TV exit to expand rural coverage. Ka‑band is designated for new geostationary satellites, while LEO/NGSO systems gain formal footing following pilots such as Starlink. Flexible sharing is introduced across 700/800/900 MHz. Authorities frame the plan as a foundation for high‑capacity digital infrastructure, economic digitization, and security readiness.

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Health

Flooding Isolates Lang Son Hospital, Patients Relocated as Equipment and Supplies Hit

Published: 2025-10-08

Severe flooding has inundated Huu Lung District Medical Center in Lang Son, submerging the first floor and forcing the relocation of nearly 300 patients to upper levels. Hospital staff are operating on generators, but critical equipment, including a CT scanner, has been damaged after failing to be moved in time. Three ambulances are immobilized by floodwaters, and supply shortages have strained patient care. Multiple commune health stations in Huu Lung, Yen Binh, and Van Nham are also cut off, with X-ray facilities at Yen Binh heavily damaged. The flooding follows days of extreme rainfall linked to Typhoon Matmo’s remnants, with upstream pressures exacerbated after the Bac Khe 1 hydropower dam failed, sending torrents downstream. Disrupted transport and communications have hindered medical response and staffing, leading to service delays and temporary care interruptions. Relief appeals were issued and conditions have reportedly stabilized.

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