Skip to content
Sign In Subscribe
Vietnam — Daily

Vietnam Daily: Govt fast-tracks flood relief, northern dykes reinforced, and FTSE upgrade path set for 2026

,   and  Lexica
39 min read

Today's Stories

Politics

Economy

Diplomacy

Infrastructure

Environment

Innovation

Health

Politics

Ho Chi Minh City Seeks 2026 Minimum Wage Region Upgrades for Select Districts and Con Dao

Published: 2025-10-09

Ho Chi Minh City has proposed reclassifying several localities from minimum wage Region III to Region II starting in 2026, aligning wage floors with higher living costs and rapid economic growth. The city also outlined four national minimum wage tiers recommended by the National Wage Council for 2026: VND 5.31 million (Region I), VND 4.73 million (Region II), VND 4.14 million (Region III), and VND 3.70 million (Region IV), with corresponding hourly rates. The proposal covers Kim Long, Chau Duc, Ngai Giao, Nghia Thanh, Long Hai, Long Dien, and Con Dao, aiming to narrow income gaps with adjacent Region I areas and reflect higher island living costs. Authorities stressed that enterprise pay adjustments remain subject to contracts and business conditions, even as a new decree is sought for timely planning.

"Adjustments to regional minimum wages serve as a management basis; they do not require companies to raise wages by the same percentage." - Nguyen Bao Cuong, Head of Wage and Social Insurance Division, HCMC Department of Home Affairs (thanhnien.vn)

Coverage:

Back to Table of Contents

PM Orders Evacuation Readiness and Hydropower Gate Review as Flood Risk Escalates Near Hanoi

Published: 2025-10-09

Prime Minister Pham Minh Chinh conducted a late-night inspection in Trung Gia, Soc Son District, as floodwaters from the Cau and Ca Lo rivers breached sections near the Luong Phuc dike and disrupted transport, including the Hanoi–Thai Nguyen railway. He directed Hanoi to prepare transport and shelters for a potential evacuation of 30,000 residents, mobilize two nearby army divisions, and maintain continuous dike monitoring.

"Prepare vehicles to move 30,000 residents, with clear numbers and staging points, should a dike breach occur." - Prime Minister Pham Minh Chinh (tuoitre.vn)

He also instructed agencies to dynamically manage upstream releases, including considering closing hydropower spillway gates to reduce downstream breach risk, and urged longer-term reinforcement as river levels surpass historic peaks. Local authorities reported over 9,200 residents affected in Trung Gia and extended deployments across vulnerable dike lines, with flooding on key road links and forecasts of 2–4 more days of inundation.

Coverage:

Back to Table of Contents

New AML Rule Lowers Reporting Thresholds for Electronic Transfers and Customs Declarations

Published: 2025-10-09

Vietnam’s Circular 27, effective November 1, tightens anti–money laundering (AML) controls for electronic transfers. Financial institutions and payment intermediaries must report domestic electronic transfers from VND 500 million and cross-border transfers from USD 1,000, submitting full sender/recipient details, account numbers, transaction purpose and timing via electronic channels. Institutions are required to review, suspend, or refuse transactions showing suspicious indicators. Minimum customer data fields include full name, date of birth, ID/CCCD/passport/entry visa (if any), residence address, and nationality for individuals; and registered name, address, establishment license, and tax code for organizations. The circular also mandates customs declarations for travelers carrying precious metals (excluding gold), gemstones, or negotiable instruments valued from VND 400 million. Existing internal AML policies may continue until December 31, 2025; full compliance updates are due by January 1, 2026.

Coverage:

Back to Table of Contents

Economy

FTSE Russell Upgrade Sets 2026 Path for Việt Nam Equities, Government Orders Reforms to Secure Capital Inflows

Published: 2025-10-09

FTSE Russell has upgraded Việt Nam from Frontier to Secondary Emerging, effective 21 September 2026, pending a March 2026 interim review focused on access via global brokers. Brokerages and asset managers forecast $5–6 billion of inflows overall, with ~$1–1.5 billion passive and larger active allocations phased around index inclusion tranches. Analysts note active funds may pre-position in 2025–2026, while ETFs typically track the official effective dates. The government issued directives to finalize market infrastructure, speed foreign account openings, consider easing foreign ownership caps, and launch central counterparty (CCP) clearing by early 2027. International media highlight valuation and competition risks as Việt Nam exits FTSE Frontier.

"We expect a qualitative shift, with higher standards for corporate governance and transparency alongside quality foreign capital." - Finance Minister Nguyễn Văn Thắng (vnexpress.net)

"The interim review should not be viewed as a risk; prior FTSE upgrades have followed similar one-year lead times." - Trần Minh Hoàng, Head of Research, VCBS (vnexpress.net)

"This milestone strengthens Việt Nam’s trajectory toward greater market openness, liquidity, and institutional participation." - Wanming Du, APAC Index Policy Director, FTSE Russell (tuoitre.vn)

Coverage:

Back to Table of Contents

VN-Index Sets Record High above 1,716 as Banks and Vingroup Lead Rally after FTSE Russell Upgrade

Published: 2025-10-09

Vietnam’s equities surged to fresh records following FTSE Russell’s decision to elevate the market to Emerging status. VN-Index closed at 1,716.47 (+1.1%), its highest in 25 years, with leadership from Vinhomes (VHM) hitting limit-up and strong gains in banks (CTG, VPB, MBB, SHB). Turnover on HoSE neared 34 trillion VND, while foreign investors extended heavy net selling (~1.6–1.8 trillion VND) concentrated in brokerage and steel names, offset by buys in VIC, TCB, and BSR. Despite the headline breakout, breadth was mixed and liquidity strength centered on blue chips, signaling selective risk appetite and profit-taking in mid/small caps. Brokerages see near-term upside but advise caution, citing consolidation and awaiting Q3 earnings; several houses project a move toward 1,730 points with banks and property remaining pivotal.

Coverage:

Back to Table of Contents

Retail Fuel Prices Cut; RON95 Falls Below 20,000 VND/L as Global Benchmarks Ease

Published: 2025-10-09

Vietnam’s regulators lowered retail fuel prices from 15:00 on Oct 9. RON95-III drops 480 VND to about 19,720–19,729 VND/litre; E5 RON92 falls 486–490 VND to roughly 19,130–19,138 VND. Diesel decreases ~430–434 VND to 18,600–18,604 VND; kerosene down ~570 VND to 18,430–18,434 VND; mazut down ~562–570 VND to ~14,800–14,808 VND/kg. The Price Stabilization Fund remains unused; authorities maintain a price gap favoring E5 to promote biofuel. The cut tracks global product prices, with average RON95 down about 2.9% to ~78.3 USD/barrel and diesel down ~2.6%. Officials cited softer demand, an OPEC+ output increase smaller than expected, and ongoing Russia–Ukraine disruptions. Petrolimex’s stabilization fund balance stands around VND 3.085 trillion; the national fund surplus exceeded VND 5.6 trillion at end-Q2.

Coverage:

Back to Table of Contents

Nasdaq Backs Vietnam’s FTSE Upgrade, Eyes Cross-Border Listings and DR Issuances

Published: 2025-10-09

"Nasdaq stands ready to cooperate and support the State Securities Commission in areas Vietnam is interested in." - Bob McCooey, Vice Chair and Global Listings Head, Nasdaq (tuoitre.vn)

Nasdaq’s Bob McCooey met Vietnam’s State Securities Commission (SSC) in Hanoi to congratulate the market’s FTSE Russell upgrade to Secondary Emerging and signal support for Vietnamese companies pursuing overseas listings and depositary receipt (DR) programs. SSC Chair Vu Thi Chan Phuong highlighted ongoing legal and procedural reforms, including synchronized IPO and listing review, to streamline capital raising and investor protection. The SSC encouraged qualified firms to list internationally, especially on Nasdaq, and sought collaboration on technology and market surveillance. Nasdaq amplified the milestone with a Times Square display, underscoring intent to act as a conduit for global capital and know‑how. Analysts forecast billions in new inflows as Vietnam enters FTSE’s emerging basket from 2026, with phased inclusion and mid‑2026 review determining final timing and weightings.

Coverage:

Back to Table of Contents

Mortgage Caps for Second Homes Draw Pushback as Experts Urge Supply-Side Fixes

Published: 2025-10-09

"Do not mistake all second-home buyers for speculators; many purchase to lease legally or to provide for family." - VARS IRE analysis (vneconomy.vn)

Draft rules from the Ministry of Construction would cap mortgages at 50% of contract value for a buyer’s second home and 30% for a third or more through March 2027, alongside state-run transaction centers and quotas for “affordable” units. Bankers and economists warn the caps intrude on credit policy, risk slowing approvals and liquidity, and may not curb cash-based speculation—while potentially chilling new supply and pushing prices higher. Critics advocate enforcing existing bank underwriting, tax tools for short-term trading or vacant homes, and accelerating permits to expand mid-market supply. Some developers support curbing leverage-driven flipping but caution blunt limits could hurt genuine multi-dwelling needs and stall recovery. The Prime Minister has ordered proposals to increase supply and lower housing prices by mid-October.

Coverage:

Back to Table of Contents

Gold Hits New Highs Above $4,000 as Safe-Haven Flows Swell; Vietnam’s SJC Jumps to VND 142.5 Million with Wide Spreads

Published: 2025-10-09

Global gold extended its record run above $4,000/oz before pausing on October 9 as profit-taking set in following fresh highs near $4,060. Drivers include escalating geopolitical and political risks, expectations of successive Fed rate cuts in October and December, heavy central-bank buying, strong ETF inflows, and a weaker dollar. Silver outperformed, touching a new all-time high around $49.6 and briefly topping $50, supported by industrial demand. In Vietnam, SJC bullion was steady at a record VND 142.5 million/tael, with domestic prices exceeding global parity by roughly VND 14–15 million and widening buy-sell spreads signaling elevated retail risk. Analysts see few near-term catalysts for a major pullback and even scope to test $5,000 should current conditions persist.

"The strength in gold reflects an extraordinarily supportive macro and geopolitical backdrop for safe havens... we don’t see a catalyst for a significant decline and expect gold to challenge $5,000 next year." - Matthew Piggott, Metals Focus (vietnamplus.vn)

"The near-term outlook remains positive because all the fundamental drivers point higher." - Kyle Rodda, Capital.com (vietnamplus.vn)

Coverage:

Back to Table of Contents

Ho Chi Minh City Pitched Five-Pillar Strategy for Post-Merger Breakout Growth

Published: 2025-10-09

At a 9 October forum on Ho Chi Minh City’s new development vision following its July administrative expansion, economist Tran Du Lich proposed five strategic pillars to reposition the metropolis as a unified growth engine with Binh Duong and Ba Ria–Vung Tau: an industrial belt tied to seaports; an international transshipment port in Can Gio and integrated logistics; a global financial center with digital finance, derivatives, and a free trade zone for regulatory pilots; sustainable urban corridors for 14–20 million residents; and a regional tourism hub. The agenda hinges on stronger decentralization and fiscal autonomy as the city targets 10–11% annual GRDP growth and per capita GRDP of USD 14,000–15,000 by 2030, up from USD 8,944. Infrastructure gaps, flooding, congestion, and administrative bottlenecks remain critical constraints.

"The city should reshape its economic space, integrating with Binh Duong and the former Ba Ria–Vung Tau to become a unified growth region." - Dr. Tran Du Lich, Chair of the Advisory Council for Resolution 98 implementation (vnexpress.net)

"Only when empowered with sufficiently strong authority and mechanisms can the city rise to become a modern, sustainable, and humane megacity." - Dr. Tran Du Lich (vnexpress.net)

"The model of 'self-decide – self-implement – self-take responsibility' should be executed realistically, with higher, stable revenue retention and full retention of over-collections for reinvestment." - Pham Phuong Thao, former HCMC People’s Council Chair (vnexpress.net)

"Amending Resolution 98 is a major opportunity to expand decentralization, select strategic investors, and design bespoke financial policies." - Assoc. Prof. Dr. Tran Hoang Ngan (vnexpress.net)

Coverage:

Back to Table of Contents

Trade Surplus Narrows in September, Heightening FX Pressure into Year-End

Published: 2025-10-09

Vietnam’s goods trade surplus fell to $2.85 billion in September, down 23.4% from August, as exports slipped 1.7% to $42.67 billion and imports edged up 0.4% to $39.82 billion. For January–September, total trade reached $680.66 billion (+17.3% y/y), with exports up 16% and imports up 18.8%; the cumulative surplus narrowed 20.4% to $16.82 billion. A slimmer surplus and seasonal year-end FX demand raise risks for the dong and the balance of payments. The State Bank reportedly sold about $1.41 billion via six‑month forwards on Oct. 1, while the State Treasury bought roughly $490 million, tightening FX liquidity. The VND has depreciated 3.5% versus the USD year-to-date despite broad USD weakness, reflecting internal pressures from softer external balances, capital outflows, and higher FX demand. ADB warns tariff headwinds from the U.S. could weigh on exports and exacerbate cost‑push inflation risks, urging tighter fiscal‑monetary coordination.

Coverage:

Back to Table of Contents

High-end Hanoi Condos Top New Supply as Prices Jump; Government Moves to Curb Speculation

Published: 2025-10-09

Hanoi’s condo market saw further price escalation in Q3, with average primary prices hitting VND 85.6 million per sq m, up 23% year-on-year, according to One Mount Group. New launches skewed heavily upscale: units priced above VND 100 million per sq m comprised 53% of fresh supply, while sub-VND 50 million offerings were nearly absent. Listings in core districts like Tay Ho and Ba Dinh commonly range VND 130–210 million per sq m. One Housing estimates a household earning VND 200 million–1.3 billion annually needs 9–10 years to buy a 70 sq m apartment, while lower-income households face >35 years. The Prime Minister ordered tighter credit scrutiny for high-priced projects and suspected price inflation, as the Construction Ministry proposes lending caps of 50% for second-home mortgages and 30% from the third, effective through March 2027 if adopted.

"How can people afford homes when prices are VND 70–100 million per square meter and above?" - Prime Minister Pham Minh Chinh (vnexpress.net)

"The gap between income and real estate prices is widening, posing a major challenge for housing in Hanoi and Ho Chi Minh City." - Tran Minh Tien, Head of Market Research, One Housing (vnexpress.net)

Coverage:

Back to Table of Contents

Foreign Investors Net-Sell $10 Billion Over Five Years as FTSE Upgrade Sparks Cautious Outlook

Published: 2025-10-09

Foreign investors have net-sold nearly VND 270 trillion (about US$10 billion) on Vietnam’s stock market since 2020, including over VND 1 trillion in the latest session despite FTSE Russell’s decision to upgrade Vietnam to Secondary Emerging status. SSI Research estimates passive inflows of roughly US$1.6 billion from the upgrade—modest versus multi-year outflows—while highlighting that broader reforms and new listings will be key to reversing sentiment. Recent market infrastructure and regulatory changes include non-pre-funding for foreign institutions, settlement failure handling, simplified consular legalization for account openings, KRX rollout, and Decree 155 amendments to accelerate IPOs and enhance transparency. The first FTSE-driven portfolio rebalancing is expected in September 2026, with limited near-term impact as liquidity deepens.

"Upgrade is one step; attracting capital also requires diverse stocks, growth stories, and robust IPO/listing activity." - Pham Luu Hung, Chief Economist and Head of SSI Research (vneconomy.vn)

"The key change will be a gradual expansion of fund flows rather than a single ETF-driven milestone—this is the core expectation." - Ho Huu Tuan Hieu, Investment Strategy Specialist, SSI Research (vneconomy.vn)

Coverage:

Back to Table of Contents

Gold Outperforms Land as Vietnam Eyes Market Upgrades and Expands Key Expressway

Published: 2025-10-09

HSBC says Vietnam’s economy continues to defy skepticism, citing Q3 GDP growth of 8.23% and momentum on capital market reforms. Following FTSE Russell’s latest review, Vietnam remains on the watchlist for a secondary emerging upgrade, with authorities also targeting MSCI emerging status by 2030 to unlock larger capital inflows.

"Vietnam’s economy has risen despite all doubts, reaffirming its superior position among frontier and emerging markets." - Gary Harron, Head of Securities Services, HSBC Vietnam (tuoitre.vn)

On equities, UPCoM weakened in September 2025: the index slipped to 110.01, liquidity nearly halved, while foreigners net sold about VND542.8 billion and broker-dealers also net sold VND289.3 billion. A Batdongsan report shows asset returns diverged sharply over 2015–2025: gold led with a 3.57x increase, outpacing land plots (3.12x), apartments, and stocks (2.78x), while deposits and USD lagged. Separately, the HCMC–Long Thanh expressway expansion advances with safety barriers installed on package XL02; completion targets align with Long Thanh Airport, with main bridge works finishing by Q1 2027.

Coverage:

Back to Table of Contents

Lotte Seeks to Exit $1B Eco Smart City in Thu Thiem as HCMC Weighs Financial Waivers and Ownership Flexibility

Published: 2025-10-09

Lotte Properties HCMC has requested to terminate its 7.45-hectare Eco Smart City project in Thu Thiem, nearly three years after a high-profile 2022 groundbreaking. The site remains vacant amid prolonged legal and financial procedures. In July 2025, HCMC’s Natural Resources Department set the land price at VND 16.19 trillion, after which the city’s Tax Department applied Decree 103, adding roughly VND 2 trillion in land use and lease fees. Following talks on October 3, the city reported to the Prime Minister that Lotte seeks exemption from a supplemental 5.4% charge, permission to adjust intra-group shareholding, and to bring in external investors up to 35%. The government has asked ministries for opinions. The stalemate mirrors Empire City’s delays, where recalculated land value added over VND 5 trillion. HCMC plans to auction 49 plots (50 ha) in Thu Thiem as it tries to unlock stalled landmark developments.

Coverage:

Back to Table of Contents

Nghệ An Accelerates FDI Inflows with Industrial Expansion and 'Five Readiness' Strategy

Published: 2025-10-09

"Our success is built on the 'five readiness' strategy, not chance." - Le Tien Tri, Head of Southeast Nghe An Economic Zone Management Board (vneconomy.vn)

Nghe An approved 55 new projects totaling VND 11.3 trillion and adjusted 147 projects through September 30, 2025, adding VND 22.6 trillion. FDI remained the highlight: 15 new FDI projects brought USD 213.3 million, while 14 existing FDI projects raised capital by USD 655.8 million, lifting total new and adjusted FDI to USD 869.1 million. Notable approvals include VSIP Nghe An III (USD 52.5 million), VSIP Casa Bonita residential area (USD 88.84 million), and Sunny Vietnam’s smart optics project (USD 11 million). Major reinvestments came from Fu Wing Interconnect Technology (+USD 150 million) and Galax waste-to-energy (+VND 2,928.8 billion). The province is expanding the Southeast Economic Zone to 80,000+ ha, upgrading Cua Lo Port and Vinh Airport, and targeting USD 5–6 billion in FDI by 2030 with 8–10 new industrial parks and 120,000–150,000 jobs.

Coverage:

Back to Table of Contents

Diplomacy

Pyongyang Hosts To Lam for First Vietnamese Party Chief State Visit in 18 Years, Signaling Push to Revitalize Ties

Published: 2025-10-09

General Secretary To Lam arrived in Pyongyang for a state visit on October 9–11, receiving a 21-gun salute and mass ceremony led by Kim Jong-un. The trip coincides with the 80th anniversary of the Workers’ Party of Korea and the 75th anniversary of bilateral ties. Both leaders agreed to expand cooperation through party-to-party exchanges, parliamentary channels, and local-level links, while exploring practical areas such as culture, sports, education, health, tourism, and information.

"This visit holds special importance, creating strong momentum to deepen mutual understanding, strengthen political trust, and elevate ties between our parties and countries," - Kim Jong-un, General Secretary and State Affairs Chairman (vietnamplus.vn)

"We are ready to share experience on economic renovation and external economic policy, including trade management and socio-economic development," - To Lam, General Secretary of the Communist Party of Vietnam (vnexpress.net)

Hanoi emphasized support for peaceful dialogue on the Korean Peninsula and called for respect for international law, including UNCLOS. The visit underscores Vietnam’s consistent outreach to traditional partners as regional leaders converge on Pyongyang for WPK festivities.

Coverage:

Back to Table of Contents

Leipzig–Ho Chi Minh City Deepen Ties with Water Management Deal and Skilled-Worker Training

Published: 2025-10-09

"Clean water is vital to millions, and our focus now is improving raw water quality, especially micro‑pollutant treatment." - Clemens Schülke, Leipzig Vice Mayor for Economic Affairs (vietnamplus.vn)

A 60‑member Leipzig delegation concluded a working visit to Ho Chi Minh City, advancing city‑to‑city cooperation in water, transport, and workforce development. SAWACO signed a cooperation agreement with Leipzig’s Waterworks and Aone Deutschland AG to enhance water management, including micro‑pollutant treatment. Aone will pilot supply for two residential towers (c.2,500 households) and targets April 2026 commissioning of the large-scale Xuan Mai water plant near Hanoi, serving about 1.5 million people. Leipzig’s transport operator launched 10 new training contracts under the Viet_Unite model, enabling Vietnamese youth to qualify as drivers with basic technical training from 2026; 27 trainees are already in Leipzig. IHK Leipzig backed the mission, with Chairman Kristian Kirpal prioritizing bilateral expansion in infrastructure, green energy, medicine, and electrical engineering.

Coverage:

Back to Table of Contents

Infrastructure

Hanoi Breaks Ground on Metro Line 2 Linking Ciputra to Hoan Kiem, Targeting 2029 Operations

Published: 2025-10-09

"I am confident Line 2 will be widely used and become a symbol of Japan–Vietnam cooperation." - Ito Naoki, Japan’s Ambassador to Vietnam (tuoitre.vn)

Hanoi has started construction of Metro Line 2 (Nam Thang Long–Tran Hung Dao), a nearly 11 km corridor with 8.9–9 km underground and 10 stations, connecting Ciputra and Starlake through Ba Dinh to Hoan Kiem. The project is valued at about VND 35.6 trillion, financed by JICA ODA and city counterpart funds, with commercial operations planned for 2029 and two years of operations and maintenance training. The Xuân Đỉnh depot (11.3 ha) will pilot Vietnam’s first transit-oriented development (TOD), while the four-level C9 Hoan Kiem station integrates with an underground plaza-park to balance heritage protection and mobility. Authorities position Line 2 as a backbone link to future Lines 1, 3, and 5 and a future extension to Noi Bai Airport, aligning with plans for 15 metro lines and a greener urban transport shift.

Coverage:

Back to Table of Contents

Telecom operators restore connectivity and deploy drones for flood relief in Thai Nguyen

Published: 2025-10-09

Severe flooding in Thai Nguyen, Cao Bang, and Lang Son knocked out grid power and damaged fiber routes, disrupting mobile base stations and Internet services. Viettel, VNPT, and MobiFone activated top-tier emergency plans, moving hundreds of technicians, generators, fuel, satellite phones, mobile broadcast vehicles, and batteries to keep command links and public communications running. Viettel additionally deployed 50 boats and dozens of drones for reconnaissance, fuel delivery, and last‑mile transport; its customer support included emergency top-ups and data bonuses for affected subscribers. Drones executed 200 flights delivering 5 tons of supplies and 30 guidance sorties, including a night mission delivering medicine to a four-month-old with seizures. VNPT prioritized bandwidth for hotlines, free charging, and SIM support, while mobilizing 500 backup staff and satellite kits. MobiFone reallocated power loads to protect critical transmission nodes despite access constraints from landslides and high water.

Coverage:

Back to Table of Contents

Published: 2025-10-09

Ho Chi Minh City has activated 31 AI-enabled cameras across major corridors—including Dien Bien Phu, Vo Thi Sau, Nguyen Thi Minh Khai, Pasteur, and Xo Viet Nghe Tinh—to automatically detect red-light running, lane violations, speeding, helmet and seatbelt non-compliance, phone use, and improper stopping. Since launching on September 1, systems have logged over 3,100–3,476 violations, with around VND 2 billion in fines and more than 1,000 driver’s license point deductions. Authorities plan to integrate thousands of existing cameras with AI, extend connectivity to Binh Duong and Ba Ria–Vung Tau, and reduce roadside policing while improving transparency and throughput. Enforcement faces hurdles with older, non–title-transferred motorbikes; data cleansing and linking penalties to registration transactions are underway. Hanoi is piloting similar tools, and national police have proposed scaling AI nationwide.

"These AI cameras can detect multiple violations at once, day or night, helping reduce the number of officers on the street." - Lt. Col. Nguyen Thi Thanh Nga, Deputy Chief of HCMC Traffic Police (tuoitre.vn)

"From now to year-end, we will keep upgrading and connecting cameras, including to neighboring provinces, to strengthen remote enforcement." - Lt. Col. Nguyen Thi Thanh Nga, Deputy Chief of HCMC Traffic Police (thanhnien.vn)

Coverage:

Back to Table of Contents

HCMC Metro to Offer Free Rides During Tet; Vietnam Stocks Gain Upgrade

Published: 2025-10-09

Ho Chi Minh City’s metro will provide free rides during the Tet holiday, a move expected to boost holiday mobility and encourage first-time adoption of the new urban rail system. In a separate development, Vietnam’s equity market has been upgraded by a global index provider, a step that could broaden access for foreign capital and lower the cost of equity for local issuers. The twin updates signal momentum in urban transit usage and capital-market maturation, potentially improving commute efficiency while attracting more institutional inflows. Details on the duration of free service and the specific index upgrade tier were not disclosed in the brief. Market participants will watch for next steps on metro service capacity and any regulatory reforms that typically accompany an index reclassification, such as settlement cycles and foreign ownership procedures.

Coverage:

Back to Table of Contents

Long Thanh Airport to Complete Surveillance Radar Installation in October

Published: 2025-10-09

Vietnam Air Traffic Management Corporation (VATM) is completing installation of primary/secondary surveillance radar at Long Thanh International Airport this month, a key step to enhance air traffic control capacity, safety, and operational efficiency. The system is being installed by engineers from Long Thanh Air Traffic Control Center with UK supplier EASAT overseeing technical requirements and installation. VATM says work is tightly supervised to meet safety, environmental, and schedule standards. The radar will integrate with a 123m air traffic control tower—now the tallest structure at the airport—positioned to minimize ground blind spots and improve surface monitoring. VATM leads Phase 1’s air navigation services works. Long Thanh spans 5,000 hectares; Phase 1 targets 25 million passengers and 1.2 million tons of cargo annually, scaling to 100 million passengers and 5 million tons upon full buildout.

Coverage:

Back to Table of Contents

Nghệ An fast-tracks special investor selection for $2.15bn Quỳnh Lập LNG power project

Published: 2025-10-09

"[No direct quotes meeting criteria were present in the source article]" - Editor’s note (vneconomy.vn)

Nghệ An province is expediting legal procedures to select an investor under a “special case” mechanism for the Quỳnh Lập LNG power plant, a 1,500 MW project valued at over $2.15 billion in Hoàng Mai town. Planned across 210–360 ha with a terminal capable of receiving LNG carriers up to 100,000 DWT, the plant is expected to consume about 1.15 million tons of LNG annually. Aligned with Vietnam’s Power Development Plan VIII, the project targets cleaner baseload capacity and lower carbon emissions. Authorities aim to finalize investor selection in Q4 2025 to break ground in 2026, applying updated procedures under the 2025 Law and decrees. SK Innovation has submitted interest and proposed a shared LNG port serving both Quỳnh Lập (Nghệ An) and Nghi Sơn (Thanh Hóa), potentially reducing capex and enabling regional integration, while defense coordination addresses adjacent maritime security zones.

Coverage:

Back to Table of Contents

Environment

Record Flooding Inundates Northern Provinces; Emergency Aid, Dike Repairs and Power Restoration Accelerate

Published: 2025-10-09

Four northern provinces—Thai Nguyen, Bac Ninh, Lang Son, and Cao Bang—sustained record flooding following Typhoon Matmo’s remnants, with peak river levels surpassing historic marks on the Cau, Thuong and Trung. Authorities report 15 dead or missing, nearly 223,000 homes inundated at the height, extensive dike breaches and tràn, disrupted power and transport, and large agricultural losses. The government deployed over 22,000 security personnel, helicopters for airlifts, and approved VND140 billion in urgent funding for the four provinces; dike stabilization and grid repairs are ongoing as waters recede unevenly (2–4 days for most areas). Thai Nguyen counts over 200,000 homes flooded and damage above VND3,000 billion; Bac Ninh faces critical dike stress; Lang Son managed a small hydropower dam failure without casualties; Cao Bang seeks 1,200 tons of rice and VND1,000 billion for recovery.

"What we urgently need are essentials—safe water, food, drinking water, and water filtration tools. Recovering homes and production is also crucial as much has been swept away." - Deputy Minister Nguyen Hoang Hiep, Ministry of Agriculture and Environment (vnexpress.net)

"We evacuated residents through the night and reinforced the dike with the spirit of ‘protecting the dike is protecting our homes.’" - Provincial authorities’ on-site directive in Bac Ninh (thanhnien.vn)

Coverage:

Back to Table of Contents

Northern Provinces Race to Reinforce Dykes as Cau River Flood Peaks Threaten Historic Levels

Published: 2025-10-09

"We’re raising the dyke by 80 cm to 1.1 m; key sections remain 40–50 cm above the forecast peak." - Nguyen Manh Hieu, Chairman, Kinh Bac Ward (com.vn)

Heavy rains from Typhoon Matmo’s remnants pushed the Cau River above Alarm Level 3, with gauges at Bac Ninh’s Dap Cau hitting around 7.0 m and forecasts signaling near-historic crests. Hundreds to 1,600+ responders and residents in Bac Ninh worked overnight to sandbag and elevate the 4 km Dau Han auxiliary dyke, while Hanoi’s Soc Son district and Thai Nguyen mobilized forces to patrol, block tripping points, and order evacuations from low-lying, out-of-dyke areas. Authorities reported multiple overtoppings and slips on the Cau and Thuong river systems, partial failures on local dykes, submerged pumping stations, and widespread isolation: Bac Ninh alone counts 1,800+ households cut off and 10,000 evacuated, with three fatalities. National and provincial leaders mandated 24/7 patrols and rapid evacuation readiness as cresting was expected by midday Oct 9.

Coverage:

Back to Table of Contents

Historic floods swell northern rivers; prolonged urban and rural inundation persists as authorities shore up dikes

Published: 2025-10-09

Record-breaking floods on the Cầu, Thương and Trung rivers inundated large swaths of Thái Nguyên, Bắc Ninh and Lạng Sơn, with peaks surpassing past records by up to 1.77 m. Hydrology agencies said flood crests shifted downstream on Oct. 9, with the Thương easing while the Cầu rose through Bắc Ninh and parts of Hà Nội; widespread flooding is expected to last 2–4 days, longer in low-lying areas. Officials stressed main dikes remain intact though many bối/bao embankments overtopped, prompting nonstop reinforcement. Bắc Ninh reported 3 deaths, thousands evacuated and over 9 km of dike tranches overtopped; Thái Nguyên faced massive urban flooding and hospital disruptions. Emergency teams from the military and police continue evacuations and supply drops.

"Overtopping on certain dike sections is being handled proactively; main dikes are safe if rains end as forecast." - Nguyễn Văn Hải, Department of Dike Management and Disaster Prevention (vietnamplus.vn)

"The flood on the Thương has exceeded the 1986 historic level; relocation plans are in place where bối dikes may self-fail or overtop." - Bắc Ninh Civil Defense Command leadership (tuoitre.vn)

Coverage:

Back to Table of Contents

Ho Chi Minh City Drops Proposed Ban on New Gas Motorbikes, Pilots Low-Emission Zone from 2026

Published: 2025-10-09

Ho Chi Minh City has scrapped earlier drafts that would restrict new registrations of gasoline motorbikes in the downtown area, shifting to incentives and a pilot Low Emission Zone (LEZ) from 2026. The LEZ will cover the central area bounded by 15 bridges and 20 main roads, plus the Rung Sac corridor, prioritizing zero-emission and green-energy vehicles. Heavy diesel trucks will be barred, while cars below Euro 4 and motorbikes below Level 2 standards face time-based restrictions and potential fees. A robust subsidy package backs the transition: 50% fee cuts for registration and plates on e-motorbikes; purchase subsidies of 10% (up to VND 5 million) for regular households, 80% (up to VND 16 million) for near-poor, and 100% (up to VND 20 million) for poor households; 20% interest support on dong loans; and compensation for scrapping old gas bikes. Charging infrastructure is set for a rapid buildout at bus stations, parking facilities, and residences.

"In the next three months, charging stations for electric buses and cars will be rapidly deployed. The city will also plan compliant, fire-safe charging points at stations, parking lots, residential areas, and apartments." - Bui Hoa An, Deputy Director, HCMC Department of Construction (baotintuc.vn)

Coverage:

Back to Table of Contents

Historic Flooding Isolates Over 9,000 Residents Along Cau River; Hanoi Suburb Races to Evacuate

Published: 2025-10-09

Severe flooding along the Cau River has inundated parts of Soc Son District, Hanoi, trapping households and breaching multiple level-3 and level-4 dikes. Local authorities reported more than 2,300 households (9,210 people) across 11 villages isolated, with planned evacuations of about 1,670 residents from Hoa Binh, An Lac, Lai Son, and Pho Ni. Emergency teams are reinforcing weak points, including raising 20 meters of the Go Sanh sluice dike. A family in Xuan Son said five members are stranded on a second floor after floodwaters surged overnight, underscoring supply shortages and slow access for responders.

"The floodwater is about one meter below our second floor and still rising. We hope authorities can reach us with supplies or move us to safety soon." - Representative of Mrs. Nguyen Thi Tuoi’s family (thanhnien.vn)

"We have deployed staff to assist the family and are continuing dike reinforcement at critical sites." - Nguyen Ba Hoang, Chairman of Trung Gia Commune People’s Committee (thanhnien.vn)

Coverage:

Back to Table of Contents

Innovation

Tether Explores Partnerships as Vietnam Pilots Regulated Crypto Asset Exchanges

Published: 2025-10-09

Vietnam has approved a five-year pilot for a regulated crypto asset market under Resolution 05/2025/NQ-CP, with licenses expected for up to five trading platforms before a post-pilot law is enacted. Deputy Prime Minister Ho Duc Phoc encouraged major global players to partner with large domestic firms to develop compliant exchanges, emphasizing risk management, system security, and clear policies to channel capital into the economy and infrastructure. Tether, a leading stablecoin issuer with $177 billion in reserves, signaled intent to collaborate and share regulatory expertise, citing Vietnam’s young demographics and remittance flows.

"We want to learn from early movers to build a secure, professional market that attracts capital and supports growth." - Deputy Prime Minister Ho Duc Phoc (vnexpress.net)

"Vietnam is a very promising and important market for Tether, and we are ready to help develop a clear legal framework and sustainable trading infrastructure." - Marco Dal Lago, Vice President for Global Development and Partnerships, Tether (vietnamplus.vn)

Coverage:

Back to Table of Contents

AI360 Forum Signals Policy Push as Government Plans Public Spending, Draft AI Law and National Supercomputing Center

Published: 2025-10-09

Vietnam’s AI360 2025 forum in Hanoi underscored a policy shift from pilots to deployment, with officials pledging tools to expand domestic demand for AI. The Ministry of Science and Technology is updating the national AI strategy to 2030 and preparing a draft AI law emphasizing safety, accountability, and human oversight. A National AI Supercomputing Center and shared open datasets are planned, alongside increased public spending and procurement preferences for local digital solutions via the NATIF fund. Investment in Vietnamese AI firms reportedly jumped from $10 million in 2023 to $80 million in 2024, while adoption accelerates across finance, education, health, e-commerce, and manufacturing. Persistent bottlenecks include talent shortages, data quality and access, compute infrastructure, and a lag in enterprise-side spending. VINASA introduced an AI Capability Maturity framework to steer ROI-focused deployments.

"To develop AI, we must create a market for AI. The government will increase public spending and prioritize procurement of domestic digital solutions." - Nguyen Khac Lich, Director General, Department of ICT Industry (vnexpress.net)

"If 2023 was the year of POCs, 2025 is the year of business value." - Nguyen Van Khoa, Chairman of VINASA (vneconomy.vn)

"AI must remain permanently under human control, with clear accountability in law." - Ho Duc Thang, Director, National Institute for Digital Technology and Digital Transformation (com.vn)

Coverage:

Back to Table of Contents

Universities Urged to Lead Vietnam’s Semiconductor Push with Design-Focused Strategy

Published: 2025-10-09

Vietnamese education and industry leaders pressed for a university-led approach to semiconductor development, prioritizing chip design over costly fabrication. The Ministry of Education and Training’s Southern Center convened a forum highlighting universities’ roles in training, research, and tech transfer. David Nghiem of Global Wireless Technology argued for a lean strategy centered on intellectual property creation and exportable design services, rather than multi‑billion‑dollar foundries.

"We can leapfrog by mastering design—the core of semiconductors. Without design thinking, even the most modern factories leave us behind." - David Nghiem, founder of Global Wireless Technology (tuoitre.vn)

Academics called for stronger policies to attract and retain talent, expanded graduate programs, and deepened school–industry links, including 6–12 month faculty placements in firms and top labs abroad. Experts flagged infrastructure, high-end lab capacity, and IP transfer as bottlenecks. A national steering committee meeting on August 4 underscores growing state attention to the sector’s long-term R&D and workforce needs.

Coverage:

Back to Table of Contents

Ho Chi Minh City Rolls Out Data Strategy Tied to National Data Center for End‑to‑End Digital Governance

Published: 2025-10-09

"All documents for the 2025–2030 City Party Congress are published on a shared app (excluding classified materials). Each delegate uses a tablet to access related information." - Tran Luu Quang, HCMC Party Secretary (vneconomy.vn)

Ho Chi Minh City has directed a citywide data strategy anchored to Vietnam’s National Data Center, aligning with the new Law on Data and the Law on Electronic Transactions. The Science and Technology Department will update the city’s data-sharing regulations and coordinate with the Ministry of Public Security on storage roadmaps and the use of national data center infrastructure. City Police will lead data security, personal data protection, and cybersecurity. The plan, implementing Government Resolution 214/NQ-CP, targets standardized, interoperable sectoral databases and common platforms from city to ward level to improve online public services and evidence-based administration. The Digital Transformation Center will maintain administrative systems, connect to the National Public Service Portal, and expand open data. Funding, PPP options, and strict performance metrics are included to ensure secure, continuous data integration and operations.

Coverage:

Back to Table of Contents

Breakthrough Resolution 193 Fast-Tracks 5G Rollout, Opens LEO Satellite Trials and Eases Subsea Cable Approvals

Published: 2025-10-09

Vietnam’s National Assembly has enacted Resolution 193/2025/QH15, a pilot legal framework to accelerate telecom modernization through targeted incentives and streamlined procedures. Decree 88/2025 details up to 15% state co-funding for operators that deploy at least 20,000 5G base stations in 2025, along with audit and clawback mechanisms. Authorities will permit controlled trials of low-Earth orbit (LEO) satellite services for up to five years to boost connectivity in hard‑to‑reach areas, with no cap on foreign ownership. The Prime Minister authorized SpaceX to pilot Starlink, tied to a potential US$1.4 billion equipment investment. Operators report 11,000+ 5G sites now covering about 26% of the population, targeting 68,000 sites and 90% population coverage by end‑2025. The framework also expedites international subsea cable projects via domestic investment procedures and selective bidding through 2030, with new VT5S and recently activated SJC2 and ADC routes expanding resilience and capacity.

"Deploying and developing 5G in Vietnam is a crucial driver of sustainable economic growth and national competitiveness." - Le Thai Hoa, Deputy Director General, Authority of Radio Frequency Management (vietnamplus.vn)

Coverage:

Back to Table of Contents

Health

Government Orders Accelerated Flood Relief, Seeks International Aid as Losses Top $1.3 Billion

Published: 2025-10-09

"Forecasting must be closer to reality and more rigorous... by all means reach isolated areas with supplies; absolutely do not let people go hungry or cold." - Prime Minister Pham Minh Chinh (vnexpress.net)

The Prime Minister chaired an emergency session directing ministries, security forces and localities to restore essential services, secure dikes and reservoirs, and ensure shelter, food, water and medical access following historic floods linked to Typhoon Matmo. Authorities report at least 238 dead or missing nationwide in 2025 disasters; economic losses are estimated at 33.5–35 trillion VND (about $1.3 billion), with further costs expected from urban vehicle damage. Northern provinces, especially Thai Nguyen and Bac Ninh, saw extensive inundation and infrastructure disruption, though main dikes held. Hanoi asked agencies to rapidly reopen schools and clinics, deploy reserves, and provide concessional finance for recovery. The agriculture ministry convened donors, with the UN pledging continued support and field assessments to target urgent needs like clean water, sanitation kits, housing repairs, and livelihood restoration.

"Nearly everything has been swept away; families urgently need water, food, and tools to filter water." - Deputy Minister Nguyen Hoang Hiep (vnexpress.net)

Coverage:

Back to Table of Contents

Government Allocates VND 140 Billion for Flood Relief as Northern Provinces Face Historic Inundation

Published: 2025-10-09

"Provincial authorities must manage and use the supplementary funds in line with state budget laws—targeted, transparent, and without loss or wrongdoing." - Decision 2221/QĐ-TTg, Prime Minister Pham Minh Chinh (vneconomy.vn)

Prime Minister Pham Minh Chinh approved an emergency VND 140 billion (approx. USD 5.7 million) allocation from the 2025 central contingency budget to support flood-hit Thai Nguyen (VND 50 billion), Cao Bang, Lang Son, and Bac Ninh (VND 30 billion each). The move follows days of heavy rain linked to remnants of Typhoon Matmo, with Thai Nguyen surpassing historic flood levels by 1.09 meters on the Cau River and widespread inundation isolating communities. Senior leaders inspected damage across provinces, while the government directed immediate rescue, medical, and schooling restoration, and ordered accelerated flood-control infrastructure—especially embankments and roads along the Cau River—with a target completion by June 2026. Hydrometeorological authorities warn high water may persist 2–4 more days in key localities, prolonging recovery efforts.

Coverage:

Back to Table of Contents

Comments

Related

Latest