Vietnam has adopted a national action plan on digital economy development, which outlines key tasks and solutions for the 2024-2025 period.

The freshly-issued plan aims to accelerate the development of Vietnam's digital economy in line with the targets set in Decision No. 411/QD-TTg dated March 31, 2022, which approved the National Strategy on Digital Economy and Digital Society Development by 2025 with a vision toward 2030.

It identifies sector-specific digital economy growth as the primary avenue for expansion, while highlighting the gradual integration of digital technologies and data as critical inputs in production and business activities across various sectors, ultimately enhancing overall efficiency and competitiveness in the economy.

The plan puts forth four major tasks and solutions, covering ICT-based digital economy, digital data, sector-specific digital economy, and digital governance.

Accordingly, information technology serves the foundational sector to drive digital economy growth. The plan also promotes the readiness of high-quality datasets as well as the circulation, sharing, and opening of data.

Priorities will be given to key sectors where Vietnam has significant potential for digital economy, including wholesale and retail, agriculture, manufacturing, tourism, and logistics.

The plan touches upon the pilot the deployment of virtual assistant platforms across ministries, agencies, and localities before scaling up. These platforms will support officials in drafting legal documents and performing public duties, assist citizens with legal matters, and provide other virtual assistant functions./.

Vietnam, Bulgaria look toward new height in trade volume

The ongoing Vietnam visit by Bulgarian President Rumen Radev is set to elevate bilateral ties to a new height, particularly in the economic sphere, as both nations prepare to celebrate the 75th anniversary of their diplomatic relations next year.

Minister of Industry and Trade Nguyen Hong Dien stressed that in the 1950s, Bulgaria was one of the first 10 countries globally to recognise and establish diplomatic ties with Vietnam.

Today, Vietnam stands as one of the top 40 largest economies in the world, with an annual trade turnover exceeding 700 billion USD. This economic prowess positions Vietnam among the top 20 countries with the largest international trade and the top 15 for attracting foreign direct investment (FDI), with an average annual FDI growth rate of 5-6%.

Through Vietnam, Bulgarian firms can access the ASEAN market and other international partners thanks to its entry into several free trade agreements (FTAs), he said.

He noted that recently, Vietnamese enterprises have begun investing abroad, including in European and American countries, particularly in emerging sectors such as information technology, electric vehicle production, dairy and farm produce processing. Therefore, he expressed a desire for the Bulgarian Government to offer all possible support to Vietnamese businesses to access and deepen their presence in the Bulgarian market for mutual development.

If Bulgarian businesses consider investing in Vietnam at this time, they should focus on innovation, sci-tech, digital transformation and green transition, he said.

At the 24th session of the Vietnam-Bulgaria Inter-Governmental Committee, Bulgarian Deputy Minister of Economy and Industry Nikolay Pavlov affirmed Bulgaria's attractive investment environment with special incentives for Vietnamese firms. With some 350 Vietnamese workers already in Bulgaria, labour cooperation presents a promising avenue for further collaboration, along with sectors such as agriculture, modern technology and energy.

Statistics from the Vietnamese Ministry of Industry and Trade (MoIT) showed that two-way trade neared 229.2 million USD in the first 10 months of this year, marking a 30.3% year-on-year increase. Vietnam enjoyed a trade surplus of 105.3 million USD, driven by key exports such as cotton yarn, coffee bean, natural rubber, rice, cashew nut, apparel, handbags, leather and sports shoes, computer, mobile phone, electronic components, office furniture, household plastic products and raw tobacco.

To capitalise on this momentum, the ministry encouraged Vietnamese firms to actively explore the Bulgarian market, seek partners, and promote their products. The EU-Vietnam Free Trade Agreement (EVFTA) is expected to further boost Vietnam's exports and position Bulgaria as a gateway for Vietnamese goods to enter other EU markets. Connecting with major supermarket chains like Billa and Fantastico, joining high-ranking delegations, and attending trade fairs and forums are essential steps to expand market share and popularise Vietnamese products in Bulgaria in the coming years./.

Shrimp exports surge in 10 months, generating 3.2 billion USD

Vietnam’s shrimp exports in October reached 394 million USD, a strong 24% increase year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

In the first ten months of the year, total shrimp export turnover reached 3.2 billion USD, recording a 13% growth year-on-year.

All major markets achieved double-digit growth in October, signalling a strong recovery in demand.

Notably, shrimp exports to mainland China and China's Hong Kong in October reached 91 million USD, up 44% year-on-year.

Over the ten months, turnover totalled 676 million USD, a growth of 31%.

Lobster exports surged by an extraordinary 157%, reaching 298 million USD. China’s consumer stimulus policies have further driven imports of this product, creating significant opportunities for Vietnamese enterprises.

Similarly, shrimp export turnover to the EU in October rose by 32%, bringing the ten-month total to 408 million USD, a 17% year-on-year increase. Stable demand from the EU has maintained consistent growth since April.

In the US market, shrimp exports in October exceeded 80 million USD, a 17% increase.

Year-to-date exports to the US amounted to 646 million USD, up 10%.

With a decline in supply from the three largest shrimp-producing nations, the US faces a shortage of imported shrimp.

Improved market sentiment, reduced inventories and a gradual imbalance between supply and demand have further driven higher import demand. Prices are expected to rise and with President-elect of the US Donald Trump’s proposed import tax increases, if implemented, prompting US businesses to accelerate imports before the new tariffs take effect.

In the short term, this is expected to boost US shrimp imports demand further.

Shrimp exports to Japan and the Republic of Korea also showed significant recovery in October, growing 18% and 28%, respectively, after a period of instability.

Export shrimp prices, especially for white-leg shrimp, are on an upward trend, significantly improving profit margins for businesses.

Additionally, processed shrimp products are experiencing robust growth, highlighting Vietnamese enterprises' focus on high-value-added products.

Data from the first ten months indicate a positive outlook across major markets. Demand from the US and EU remains stable, while China, with its consumption-supporting policies, continues to be a promising destination for Vietnamese shrimp.

With this growth trajectory, shrimp exports in 2024 are likely to reach 4 billion USD./.

Canadian startup eyes Vietnam for emission-reducing diesel technology expansion

Vietnam is a notable destination for the Canada-based startup dynaCERT to expand its carbon emission reduction technology for diesel engines called HydraGEN, President and CEO of the firm Jim Payne told the Vietnam News Agency.

dynaCERT is eager to forge a joint venture with Vietnamese partners to bring its technology there, adding the technology uses simple electrolysis to turn distilled water into hydrogen and oxygen gases that are produced on demand, meeting increasingly stringent demand on emissions reduction and improving fuel efficiency.

Technology HydraGEN can cut overall emissions by up to 50%, with a remarkable 88% reduction in nitrogen oxide emissions, the most toxic gases generated from diesel engines, he explained.

Based on the new technology, dynaCERT designed and manufactured equipment for a wide range of diesel-powered machines of small trucks, heavy-duty vehicles, mining machinery, locomotives, and vessels, among others.

Payne revealed that dynaCERT wants to reach out to the Vietnamese market that is housing a large number of cargo ships.

The company has garnered global attention due to its ability to diversify product range to meet market demands. The company’s entry-level products are priced at approximately 6,000 USD, with users expected to recover the cost within one to two years through fuel savings and carbon credits.

The company stands ready to open a manufacturing plant in any region where purchasing power could hit 1,000 units annually.

With more than 100 million diesel engines produced globally each year, dynaCERT’s technology is seen as a vital solution to reducing emissions, contributing to a greener environment./.

Vietnam’s first pharmaceutical industrial park to be built

The People’s Council of Thai Binh province has approved the zoning plan for a pharmaceutical–biological industrial park that will be built in the province’s Quynh Phu district.

With a total cost of 3.8 trillion VND (149.5 million USD), the park will be developed on an area of 334 hectares that spans three communes of Trang Bao Xa, An Vinh and Dong Hai. The construction is expected to begin next year.

The park will be the first of its kind in Vietnam, focusing on producing and supplying medicines and medical equipment and products for domestic demand and exports. It is expected to make an important contribution to the overall development of Vietnam’s healthcare sector.

The park will comprise research and development institutes, a biotechnology zone, warehouses, logistics centres, commercial areas that showcase medical–pharmaceutical products, as well as areas for training and incubation of start-up enterprises in the pharmaceutical–biological industry.

It is expected to provide jobs for 18,000 people when it becomes operational, and attract investments worth 800 million USD from now until 2027 and $1.2 billion from 2028 to 2030.

Some pharmaceutical companies from the US, the Republic of Korea, Switzerland, Germany, and India have expressed their interest in establishing factories in the park.

The development of the park is part of the national strategy and programme to develop the pharmaceutical industry and domestically produce medicinal materials until 2030, with a vision to 2045.

It is also part of the development plan for Thai Binh province in the 2021-30 period with a vision to 2050, approved by the Prime Minister./.

Vietnam balances supply and demand to prepare for Tet shopping season

Vietnamese authorities and businesses are rolling out comprehensive promotion programmes to boost consumer spending for the upcoming Tet holiday (Lunar New Year).

According to producers and retailers, purchasing power will not be as high as expected due to economic headwinds, particularly the impacts of Typhoon Yagi that has dampened consumer confidence and made shoppers across the country tighten their belts.

The Department of Industry and Trade of Ho Chi Minh City is taking a multifaceted approach to market stabilisation, actively negotiating discount policies with distribution networks to ease price pressures, especially for essential goods during the peak Tet season. Besides, it is calling for proactive participation from businesses through promotional programmes, trade incentives, and organisation of spring trade fairs to boost consumer spending.

Chairman of Vissan Joint Stock Company Nguyen Phuc Khoa said the firm prepared raw materials early and has intensified production to supply 930 tonnes of fresh food and nearly 3,700 tonnes of processed products for more than 120,000 sales points nationwide. Vissan is stockpiling additional 10-20% of its inventory, creating a buffer against unexpected market shortages during the Tet holiday.

Meanwhile, Saigon Co.op has outlined its year-end supply since mid-2024 and established long-term partnerships with distributors, enabling more predictable production planning. Beyond inventory management, the business is providing financial support to smaller suppliers by connecting them with banking partners and arranging various promotion campaigns to stimulate spending and support market development for the firms.

Having registered to join the market stabilisation scheme, 23 key businesses in Kien Giang province have stocked up more than 4.56 trillion VND (179.38 million USD) worth of products for the shopping season. Meanwhile, Tay Ninh province also issued a plan to stabilise the market for essential goods for the Tet holiday, with the total value of goods reserved to meet market demand for one month of around 260 billion VND.

In Hanoi, the local administration has carried out measures to ensure a balanced supply of goods in anticipation of the heightened consumer needs for the Tet celebration. Those include arranging regional linkage events and promotional activities with other provinces and cities.

The Ministry of Industry and Trade will continue strengthening domestic trade, and coordinating with local departments and sectors to keep close tabs on the market developments and ensure an adequate supply of essential goods for consumers, especially during peak holiday periods.

Due attention will be given to e-commerce development to capitalise on the rapid digitalisation of the economy while efforts will be intensified to prevent smuggling, trade fraud and unfair competition./.

MoU signed to foster Vietnam-Canada cooperation in science, technology

In preparation for cooperation in training human resources in science and technology, a delegation of the Vietnam Higher Education Network of Entrepreneurship & Innovation (VNEI) has recently signed a Memorandum of Understanding (MoU) with the Colleges and Institutes Canada (CICAN) on the occasion of their participation in the Canadian Bureau for International Education Conference.

This agreement will focus on developing a proposal funded by the Global Affairs Canada to establish a Canada-Vietnam Innovation Centre which aims to promote expertise transfer and cooperation in innovation and entrepreneurship between the two countries.

Head of the Vietnam Science and Technology Representative Office Hoang Ngoc Dinh stated that the MoU is of practical significance, as it will open up clearer opportunities for enhancing cooperation in human resources training in science and technology for Vietnam.

This agreement will also create opportunities to implement several joint scientific research projects between the two sides in priority areas such as climate change mitigation and adaptation, and energy transition. As a result, research institutions and universities in both countries will establish joint projects and propose funding sources from the Canadian government to implement components in each country.

Evaluating that bilateral cooperation in science and technology, particularly in the transfer of products, technological know-how, and innovation has been limited due to disparities in development levels, high costs, and significant expenses involved in technology transfer, Dinh said that the MoU will open up prospects for fostering more comprehensive and in-depth cooperation in science, technology, and innovation.

Regarding the establishment of the Canada-Vietnam Innovation Centre, he said that this will help promote knowledge transfer, enabling Vietnam to gain early and direct access to global knowledge, entrepreneurial spirit, and innovative thinking./.

Vietnam needs to adapt to boost exports to massive Halal markets

With its strategic geographic location near major Muslim countries, Vietnam has a huge advantage to access the Halal markets, many of which are open to importing local agricultural products. Therefore, adapting to the regulations of these markets will help businesses and cooperatives gain a competitive edge.

Experts pointed out that the global Halal market, with its vast size and growing demand, holds significant potential for generating substantial incomes and diversifying product offerings for Vietnamese enterprises. Currently, 57 countries are members of the Organisation of Islamic Cooperation (OIC). The region is home to more than 2 billion Muslims, representing 25% of the global population, with an annual economic growth rate of 2.9%. This market has a unique business culture and often requires Halal certification for food-related industries.

The State of the Global Islamic Economy (SGIE) Report forecasts that spending on Halal products and services will reach 1.67 trillion USD by 2025, with the Southeast Asia - South Asia - Pacific region currently being the largest consumer of Halal food in the world.

Recognising the importance of the global Halal market and its potential, Vietnam has made significant efforts to develop the Halal industry. These efforts include formulating a strategic direction for the sector's development through 2030. It also includes a project to intensify international cooperation to build and develop Vietnam's Halal industry by 2030. Vietnam should also establish a National Halal Certification Centre, develop legal regulations and national Halal standards, and sign cooperation agreements with both Muslim and non-Muslim partners.

In addition, governmental agencies at both the national and local levels, as well as businesses and associations, are increasingly focused on investing in, producing, and expanding exports to the global Halal market.

To gain a firm foothold in the Halal market, experts advised that Vietnamese products, including food, beverages, and fashion, must be produced in accordance with specific processes, meeting the required standards, and certified as Halal.

Vietnam should focus on a few key strategies, including connecting localities and enterprises with Halal markets and partners around the world in priority sectors such as agriculture, tourism, textiles, pharmaceuticals, and cosmetics, they said.

Additionally, Vietnam should accelerate efforts to attract investment and technical support, and assistance in human resources training and development, while continuing to perfect state management policies related to Halal, streamlining certification processes, and promoting mutual recognition of Halal certifications, the experts suggested./.

Vietnam, Malaysia step up cooperation in energy, Halal fields

A delegation of the Vietnamese Ministry of Industry and Trade led by Minister Nguyen Hong Dien had a working session with TNB Renewables Sdn Bhd in Kuala Lumpur on November 22.

Dien, who is accompanying General Secretary of the Communist Party of Vietnam Central Committee To Lam and his spouse on an official visit to Malaysia, applauded the interest and cooperation of TNB Renewables Sdn Bhd as well as Malaysian businesses with Vietnam, and affirmed that Vietnam has extremely huge potention for wind power development as the country has a coastline of more than 3,260 kilometres.

The Minister said that the power grid connecting from Vietnam to Malaysia and Singapore will be part of the green power grid between Southeast Asian countries. He affirmed that Vietnam always creates favourable conditions for investors to carry out research and survey locations to develop renewable energy power projects to serve green electricity export projects.

TNB Renewables is a fully-owned subsidiary of Tenaga Nasional Berhad (TNB), Malaysia's leading electricity utility company which accounts for 50% of Malaysia's electricity capacity market share. Currently, Malaysia has built an energy transition roadmap, aiming for net zero emissions by 2050. To achieve that goal, TNB is focusing on four main areas in the energy transition process, including expanding investment in renewable energy at home and abroad, promoting decarbonization technology, modernising the power grid and enhancing grid efficiency.

Datuk Ir. Dr. Shamsul Ahmad, TNB Chief Regulatory and Stakeholder Management Officer, affirmed that the company is aiming to accelerate the sustainable energy transition process in Malaysia in particular and Southeast Asia in general.

In recent times, the company has been very interested in investment cooperation with Vietnam in the field of onshore and offshore wind power, he said, expressing his hope that the two sides will not only support and facilitate the development of existing joint projects but also expand to investment cooperation projects in third countries.

Regarding Halal cooperation, this is an area of cooperation that has received great attention from senior leaders of the two countries, and plays a very important role, not only helping to increase bilateral trade turnover between Vietnam and Malaysia but also helping enterprises of both sides exploit business opportunities in other markets. In that spirit, on November 22, the Ministry of Industry and Trade’s Asia-Africa Market Department and the Halal Development Corporation (HDC) signed a Letter of Intent on Halal cooperation.

Vietnam Trade Counsellor in Malaysia Le Phu Cuong told the Vietnam News Agency (VNA)’s resident correspondent in Kuala Lumpur that the recently signed Letter of Intent is important, thereby supporting the recognition of common goals of both sides in training and organising exhibitions, seminars and symposiums on Halal products in Vietnam and Malaysia. This activity not only helps improve businesses' understanding of Halal exports to the Malaysian market but also to the Muslim countries’ markets in general.

Up to now, only about 1,000 businesses exporting to the Malaysian market have Halal certificates for about 3,000 products. This agreement will help solve one of the major difficulties of Vietnamese businesses exporting to the Malaysian market, which is Halal certification.

Currently, the potential for economic and trade cooperation between the two countries, including the fields of energy and Halal products, is still very large. However, in order for this cooperation to become more substantive and effective, the two sides need to promote trade promotion activities, connect businesses to popularise each other's products, and enhance search and cooperation in areas where both sides have strengths, he added./.

Agritourism needs opportunities to “take off”

Vietnam, with its developed agriculture, holds huge potential to development rural and agricultural tourism. However, this type of tourism has yet to receive appropriate attention, and is still waiting for suitable policies and right opportunities to “take off”, insiders have said.

Tran Tu Huong's family, from Hanoi’s Hai Ba Trung district, often takes their children on trips to explore the outskirts of the capital city at the weekend. In their daily life, the adults are busy with work, and the children are caught up with regular school and extra lessons, so the family only has time together at the weekend. Therefore, day trips or one-night getaways are their favourite activities to strengthen family bonds, relax, and recharge for the upcoming week.

Eco-tourism in rural areas is becoming increasingly popular. Agricultural and rural tourism trends are not only growing in countries around the world, but they are particularly well-suited to Vietnam – a country with vast agricultural land and a population where more than 62.7% live in rural areas.

According to tourism expert Nguyen Quang Dang at the Institute for Tourism Development Research, rural tourism is a unique form of travel that blends cultural experiences with the natural environment. This type of tourism encompasses a variety of activities, services, and amenities provided by local farmers and rural communities to attract and serve visitors. It includes farm tourism, agricultural tourism, craft village tours, festival tourism, and ecotourism.

Rural tourism offers visitors a chance to engage in activities like fishing in ponds, picking tea leaves and roasting them into tea, or grinding rice to make rice rolls. These hands-on experiences add a deeper, more meaningful layer to the travel experiences, said Dang.

In the programme on rural tourism development in new-style rural area building in the 2021–2025 period, approved by the Prime Minister on August 2, 2022, the development of rural tourism is identified as one of the key solutions of the national target programme on building new-style rural areas in this period.

In Vietnam, the development of tourism is closely linked to the modernisation of rural areas. Modern rural infrastructure, including services for accommodation, sanitation and food safety, provides a foundation for the growth of rural tourism. In turn, rural tourism contributes to increasing household incomes, improving livelihoods, and boosting the consumption of local products, thereby supporting the local economy and enhancing the quality of the new-style rural area building.

Dr. Pham Huong Trang, a lecturer in Tourism and Hospitality Management at RMIT University, emphasised that for agritourism to develop effectively, it is essential to have well-established service spaces such as farms, fruit orchards, traditional craft villages with cultural values, local festivals, and unique culinary experiences.

She particularly highlighted the importance of the local community's involvement. As the group most closely connected to the cultural environment and production methods, local people play a crucial role in preserving and sharing cultural values with tourists. They become the custodians of agricultural heritage, helping to spread these values and creating a distinctive travel experience.

In addition, to effectively develop this form of tourism, localities should integrate the "One Commune, One Product" (OCOP) programme with community-based tourism services and tourist destinations, Trang stated, adding that each tourism site should have a comprehensive development plan based on natural resources, cultural heritage, and local values found in villages, communes, or hamlets.

At the same time, creating shared tour routes and coordinating communication and promotional activities between localities can help enhance the appeal of rural tourist destinations, she stressed./.

Vietnam honours Japan’s Sojitz, Sumitomo Corporations

The Vietnamese Embassy in Japan held a ceremony on November 22 to present the Prime Minister's certificates of merit to Sojitz Corporation and Sumitomo Corporation in recognition of their contributions to Vietnam-Japan friendship and cooperation.

The certificates were bestowed upon Chairman and CEO of Sojitz Corporation Masayoshi Fujimoto and President and CEO of Sumitomo Corporation Shingo Ueno, who also serve as co-chairs of the Vietnam-Japan Economic Committee under the Japan Business Federation (Keidanren).

Speaking at the event, Vietnamese Ambassador to Japan Pham Quang Hieu affirmed the embassy’s commitment to offering all possible support to the corporations, ensuring that economic relations between the two countries will achieve new milestones that reflect the stature of bilateral relationship.

Fujimoto took the opportunity to reflect on nearly 40 years of Vietnam's renewal policy and 20 years of Sojitz's presence in the country. He expressed the corporation's unwavering commitment to Vietnam, noting its significant expansion with over 25 joint ventures now operating there.

He also reaffirmed Sojitz's dedication to contributing to Vietnam’s sustainable economic development and further promoting friendship and cooperation between the two nations.

Ueno, for his part, outlined Sumitomo's extensive involvement in various sectors in Vietnam, including industrial parks, power plants, chemicals, automobiles, and urban development. Notably, its recent investments in industrial parks have attracted manufacturing enterprises with a total investment of around 6.1 billion USD, employing over 100,000 workers.

He introduced recent projects such as the supermarket system in Hanoi and the Smart City urban development project in the northern part of Hanoi, stressing that they would continue to grow, contributing even more to Vietnam's economic development.

Pledging to continue upholding the Japan-Vietnam Joint Initiative and supporting Vietnam, he shared plans to arrange business trips to Vietnam, explore investment opportunities, and further promote bilateral economic exchanges./.

SPRINT Project launched in Yen Bai to empower ethnic minority women

The Yen Bai provincial Cooperative Alliance joined forces with the Cowater International of Canada to launch the “SMEs Promote Resilience, Inclusion and Innovation Transformation” (SPRINT) Project on November 22.

A representative from the provincial People’s Committee Office announced a decision approving the SPRINT Project funded by Global Affairs Canada through Cowater International.

Spanning the districts of Van Yen, Van Chan, Luc Yen, Tram Tau, Mu Cang Chai, and Yen Bai city, the project is designed to uplift about 300 micro, small, and medium-sized enterprises (MSMEs), cooperatives, cooperative groups, and thousands of producers involved in agricultural value chains, particularly those led by or heavily involving ethnic minority women.

The project aims to equip these groups with the tools they need to thrive in an increasingly competitive market. They will attend training courses designed to enhance business and technical innovations, while also fostering green crops and resilient agricultural practices that are both sustainable and profitable.

Beyond technical training, the project seeks to raise awareness, build capacity, and develop essential skills in economic empowerment. A key focus will be on enhancing women’s participation and leadership in agriculture, livelihood development, and community-building activities.

The project will be implemented over six years (2024–2029) with a total budget of 9.75 million CAD (6.96 million USD) in non-refundable official development assistance (ODA).

In preparation for the project's launch, the provincial Cooperative Alliance and Cowater International held a conference on November 21 afternoon to outline an implementation strategy for the project./.

WB suggests five pillars for Vietnam’s electric transport plans

Vietnam’s roadmap for transitioning to electric vehicles (EVs) and decarbonising the transport sector should focus on five key pillars, including EV production, stimulating consumer demand, developing charging infrastructure, ensuring electricity supply, and training a highly skilled workforce, according to a report issued by the World Bank on November 22.

The report, entitled “Vietnam: Recommendations to the National Roadmap and Action Plan for the Electric-Mobility Transition”, envisions that half of urban vehicles in Vietnam, along with all buses and taxis, will be powered by electricity by 2030. By 2050, the goal is to completely shift all road transportation to electric or green energy. This transition is projected to reduce CO2 emissions by 5.3 million tonnes, equivalent to 8% of Vietnam’s emission reduction target by 2030, and by 226 million tonnes, or 60% of the target, by 2050.

Two-wheeled vehicles, the primary mode of transportation for most Vietnamese, are expected to spearhead the transition to EVs by 2035. To accelerate this shift, the report recommends a comprehensive set of policies, including financial support for consumers, refining safety standards and inspection processes, encouraging high-performance electric motorbike production, and gradually phasing out gasoline-powered motorbikes. With these measures in place, the market share of electric two-wheelers could surge from the current 12% to an impressive 75% by 2035.

Post-2035, personal cars are projected to dominate Vietnam’s transportation landscape. With a robust charging infrastructure, electric cars could become the preferred choice for first-time buyers. To meet the targets, EVs are expected to account for 93% of car sales between 2036 and 2050.

The transition to EVs is particularly crucial for public and commercial transport. Although buses and trucks account for only 2% of total registered vehicles, they are responsible for up to 65% of emissions. To promote the adoption of electric buses, the report calls for robust policies to boost passenger numbers, update technical standards, and ensure financial viability.

To meet the charging demand by 2035, Vietnam’s power sector will need to increase electricity production by 5%, with grid capacity expanding by 4%. By 2050, these figures are projected to rise to 30% and 15%, respectively, to achieve EV development goals. To meet these targets, Vietnam will require an additional 9 billion USD by 2030 and 14 billion USD annually from 2031 to 2050, on top of the funding outlined in the National Power Development Plan for 2021–2030./.

Vietnam, Japan strengthen cooperation to develop agricultural supply chains

A seminar on connecting agricultural supply chains was held in Hanoi on November 22, promoting agricultural cooperation between Vietnam and Japan.

The event attracted more than 120 delegates, and was jointly organised by the Ministry of Agriculture and Rural Development (MARD), the National Agricultural Extension Centre (NAEC), Agribusiness Japan Desk (ABJD), and the Japan International Cooperation Agency (JICA).

New products, technologies and the role of agricultural extension activities in Japan's agricultural business cooperation were introduced at the event.

Speaking at the event, MARD Minister Le Minh Hoan said that the strategic agriculture cooperation between Vietnam and Japan is developing strongly, boasting a variety of achievements.

Japan is currently one of Vietnam's important agricultural, forestry and fisheries export markets, accounting for about 7.5% of the country’s total export turnover of agricultural products. The average export growth rate in the past 10 years has reached an average of 6.35%/year.

Hoan said that Japan's strict specialised technical standards for agriculture, the fluctuation of the world economy, and domestic production protectionism are having a great impact on global agricultural trade.

Meanwhile, military conflicts, trade embargoes, and the risk of epidemic outbreaks can increase the risk of global supply chain disruption, which posed challenges for agricultural cooperation between the two countries.

He said the two countries need to make more effort to build appropriate cooperation and exchange mechanisms, adjusting production processes and technologies to remove these difficulties and challenges.

Le Quoc Thanh, Director of the National Agricultural Extension Centre, said that in order to realise the goals and commitments of cooperation between Vietnam and Japan, they must build a sustainable agricultural ecosystem where producers, businesses and consumers can work closely to create quality products that meet the increasing demand of domestic and foreign markets.

Thanh suggested that experts and businesses share experiences on building a connection network, creating an effective communication system between farmers, producers, distributors and consumers to help the parties quickly exchange information about products, prices and market demand.

On this occasion, the centre and the AEON Topvalu Vietnam Co., Ltd signed a Memorandum of Understanding on promoting the consumption of agricultural products./.

Meeting in Binh Dinh enhances cooperation with Thai businesses

The Thai Business Meeting in Binh Dinh 2024 was held in the central province on November 22, offering opportunities for Thai businesses to gain a deeper insight into the local investment environment.

Speaking at the event, Ho Quoc Dung, Secretary of the provincial Party Committee, emphasised that Thailand has been identified as one of the province's key partners. In recent years, Binh Dinh has successfully organised several investment and trade promotion events in the neighbouring country, resulting in connections, engagements, and memoranda of understanding signed with various Thai localities, businesses, and partners, paving the way for new cooperative prospects in multiple sectors.

According to Dung, the conference serves as a concrete step to strengthen ties between businesses in Binh Dinh and Thailand. It also offers an opportunity to gather feedback from the business and the investor community, helping the province to fine-tune its mechanisms and policies, aiming to speed up investment attraction efforts and align with its socioeconomic development goals.

Thai Consul General in Ho Chi Minh City Wiraka Moodhitaporn noted that Thai-invested projects in Binh Dinh reflect the trade and investment partnership between Thailand and the province. This is in line with the policy of connecting the supply chain and the grassroots economy under the Three Connection Strategy, she added.

Nguyen Trung Khanh, head of the Vietnam National Authority of Tourism under the Ministry of Culture, Sports, and Tourism, highlighted Thailand as Vietnam's third-largest source of inbound tourists in the Association of Southeast Asian Nations (ASEAN) and a nation with extensive tourism development experience. Both Vietnam’s Tourism Marketing Strategy and the Tourism Development Strategy to 2030 prioritise ASEAN as a key traditional market, including Thailand.

Khanh proposed that the provincial People’s Committee implement policies to encourage and support airlines from both countries in establishing direct flights connecting Thailand’s major tourism cities to Binh Dinh. He also called for enhanced promotional activities and cooperation to boost bilateral relations between Binh Dinh and major tourism hubs in Thailand.

Pham Anh Tuan, Chairman of the provincial People’s Committee, affirmed that the province boasts a strategic location, abundant resources, preferential policies, and a transparent investment environment. Combined with cultural similarities, these factors make Binh Dinh an ideal destination for Thai investors.

He also pledged to work alongside businesses and investors, listening to their needs, and creating favourable conditions to ensure the sustainable success of projects in the central province.

A report presented at the conference revealed that Binh Dinh currently hosts 10 projects by Thai investors with a total registered capital exceeding 106 million USD. Additionally, trade between the two countries reached over 5 million USD in the first 10 months of this year.

At the conference, a Memorandum of Understanding (MoU) was signed between the provincial People’s Committee and the Thai Business Association in Vietnam, aiming to facilitate Thai enterprises in exploring investment opportunities in Binh Dinh and vice versa./.

Hanoi to host Vietnam International Medical, Pharmaceutical Expo 2024

The 30th annual Vietnam International Medical, Hospital and Pharmaceutical Exhibition (Vietnam Medipharm) 2024 will be held from December 5-7 at the I.C.E International Exhibition Centre in Hanoi.

Organised by Vinexad, this year’s event will feature 100 booths from eight countries and territories, expecting to attract around 9,000 visitors.

Vinexad highlighted Vietnam’s impressive economic progress, with GDP per capita rising from 121 USD in 1990 to 4,622 in 2024 USD. The growing income levels and better living standards have fueled demand for health and wellness products, driving the rapid growth of the healthcare sector. Vietnam's robust social media landscape has also raised awareness of health issues, further increasing demand for medical and pharmaceutical products.

According to the Ministry of Health's 2023 report, Vietnam has approximately 1,500 hospitals, of which nearly 1,300 are public establishments. The market for medical equipment is valued at over 1.67 billion USD, with a projected compound annual growth rate (CAGR) of 10.2% according to Report Ocean.

The pharmaceutical sector has also seen significant expansion, with 250 factories, 200 import-export facilities, and over 62,000 retail outlets nationwide. Major projects in the northern region, such as a 10–12 billion USD pharmaceutical park in Hai Duong and a 200-million-USD biopharma industrial park in Thai Binh, underline the sector's growth potential.

Vietnam Medipharm 2024 provides an invaluable platform for domestic and international businesses to exchange expertise and explore cooperation opportunities.

The event will showcase a variety of cutting-edge products and services from local and international brands such as Vi Dieu Nam and Nature Gift Pharma, Mario Bio and Jeil Pharma from the Republic of Korea, Esmond Natural, Inc from the US, and PRCXI Bioinformatics from China, among others.

A dedicated section will spotlight biopharma technologies, with participants like Vietnam’s BCC Group focusing on biotechnology and biochemical solutions.

Besides, the exhibition will also host seminars addressing pressing topics such as molecular biology diagnostics, herbal health supplements, artificial intelligence in healthcare marketing, and combating hospital infections. Visitors can also benefit from free medical consultations and health screenings.

With its growing healthcare sector and increased foreign participation, the expo aims to strengthen Vietnam’s position as a competitive hub for medical and pharmaceutical industries. The event presents domestic businesses with opportunities to innovate, expand internationally, and learn from global leaders in the sector./.

Vietnam to grasp bigger business opportunities in Trump 2.0 administration: US media

Vietnam has opened its doors to major firms for decades and is expected to have even greater business opportunities under the Trump 2.0 administration, according to the US-based website forbes.com.

During his campaign, Donald Trump pledged to bring all industries back to the US. However, this is unlikely to happen, and if it does, it certainly won't be on a scale or at a speed Trump envisions. Instead, one plausible scenario is that Vietnam will emerge as the primary beneficiary of this policy.

If previously goods was made in China, now they are going to be made in Vietnam, Jason Miller, a professor of supply chain management at Michigan State University told Forbes. That production will not come back to the US, he continued.

Under the Trump 1.0 administration, major corporations like Apple, Foxconn, and Intel pivoted to Vietnam to diversify their manufacturing portfolios. The article held that Vietnam would still hold significant advantages when Trump was re-elected as president.

It cited Tran Ngoc Anh, a professor of public affairs at Indiana University, as saying that Vietnam should prioritise corporations that will bring other companies to the country.

If Apple is present in Vietnam, many suppliers will want to be near it —companies that will help Vietnam move to higher-tech industries, he noted, adding that instead of focusing on footwear and textiles, the country should aim for biotechnology, artificial intelligence (AI), and semiconductors./.

World Bank outlines path for Vietnam to reach high income status

The World Bank (WB) has released a report which explores how Vietnam can upgrade its participation in global value chains to become a high-income country by 2045.

In its report entitled "Vietnam 2045: Trading Up in a Changing World – Pathways to a High-Income Future", the bank said integration into global markets has been the key driver of Vietnam’s development success over the past 40 years, propelling one of the longest and fastest economic expansions in modern history.

Today, Vietnam is one of the most open economies in the world with about half of the country’s GDP and every second job, directly and indirectly depending on exports.

Building on its past success, Vietnam has set ambitious goals for the future, aiming to become a modern, high-income economy by 2045. This requires sustaining annual per capita GDP growth of about 6% over the next two decades. Achieving this goal will depend on Vietnam’s ability to move up the value chain by advancing into higher value-added manufacturing and services through investments in technology, skills, and innovation. And Vietnam will need to manage this transformation amid heightened global uncertainty and profound shifts in the global trading system.

“To sustain rapid growth, Vietnam will need to transition from labour-intensive, low value-added final assembly into higher value-added manufacturing and services,” said Manuela V. Ferro, World Bank Vice President for East Asia & Pacific. “In addition, amid global trade shifts and rising uncertainty, diversifying trade and investment partnerships will be essential for building resilience and ensuring long-term success.”

The WB proposed a multipronged approach to unlock productivity growth, attract private investment, and upgrade participation in global value chains. Policy options include deepening regional trade integration; linking domestic enterprises to global supply chains; promoting skill- and technology-intensive manufacturing and high-value-added services; and transitioning to low-carbon, climate-resilient production./.

Vietnam's internet economy projected to hit 36 billion USD in 2024

ietnam's e-commerce and digital economy remain highlights of the country’s socioeconomic development, with the internet economy to reach 36 billion USD this year, marking a 16% increase compared to 2023, heard a forum on digital transformation of industry and trade in 2024 in Hanoi on November 21.

In his opening remarks at the forum, Deputy Minister of Industry and Trade Truong Thanh Hoai stated that most international organisations have expressed a more optimistic outlook for global economic growth in 2024, projecting the global GDP growth rate to reach approximately 3.2%.

According to the 9th edition of the e-Conomy Southeast Asia report released by Google, Temasek, and Bain & Company on November 5, retail e-commerce continues to be a key pillar of Vietnam's digital economy, contributing 22 billion USD to the country’s GDP, 18% higher than the previous year, accounting for 61% of the total size of the Internet economy.

The report said that Vietnam's high growth rate is expected to remain stable, driven by its manufacturing, processing, and export. By 2030, the Gross Merchandise Value (GMV) is projected to range from 90 to 200 billion USD, reflecting the ongoing expansion of Vietnam's digital economy and e-commerce market.

In 2024 and the years ahead, with such robust growth, Vietnam's e-commerce and digital economy are poised for even stronger development, becoming one of the key drivers of economic growth.

This period represents a crucial opportunity to establish new models and strategies, leveraging digital technologies to enhance the competitiveness and resilience of businesses and organisations, it said.

The official said the ministry has issued several policies to promote the digital transformation of the industry and trade sector in line with the national strategy for developing digital economy and society.

The ministry aims to strengthen its role as a connector between government agencies, local departments of industry and trade, associations, organisations and businesses in the digital transformation process, towards proposing policies and solutions to effectively promote e-commerce and the digital economy within the industry and trade sector.

According to Tran Minh Tuan, Director of the Department of Digital Economy and Digital Society under the Ministry of Information and Communications, with a market of 100 million people, accounting for 1.23% of the world population, Vietnam's potential for e-commerce development remains large./.

Petrol prices fall marginally in latest adjustment

Petrol retail prices were revised downward on November 21 afternoon under the latest adjustment by the Ministries of Industry and Trade and Finance.

Specifically, the price of E5RON92 bio-fuel was cut by 109 VND to no more than 19,343 VND (0.76 USD) per litre while that of RON95-III fell by 79 VND to 20,528 VND per litre at the maximum.

Diesel 0.05S and kerosene were priced at 18,509 VND and 18,921 VND per litre as the highest, falling 64 VND and 67 VND, respectively.

Meanwhile, mazut oil 180CST 3.5S was capped at 16,014 VND per kilogramme, up 5 VND.

The two ministries decided not to use the petrol price stabilisation fund for this adjustment.

The regulators said fuel prices were affected by China’s economic stimulus plan below investors’ expectations and ongoing conflict and military tensions across the globe./.

Thai packaging giant takes 30-year lease for largest ready-built factory in Tay Ninh

Thantawan Industry Public Company Limited, a leading plastic bag and straw manufacturer with more than 40 years of experience in Thailand, officially took out a landmark 30-year lease for a ready-built factory at Phuoc Dong Industrial Park, the southern province of Tay Ninh.

The contract, the largest in the locality so far, marks a significant step in the company’s expansion into the Southeast Asian market while reinforcing Vietnam’s position as an important player in the regional manufacturing and industrial landscape.

The facility spans 43,057 square metres and features a state-of-the-art factory with a gross floor area (GFA) of 24,436 square metres. Purpose-built for advanced virgin plastic packaging production, it is designed to have a production capacity of 9,000 tonnes annually. This project is expected to generate significant local employment opportunities and adhere to strict environmental standards.

John Campbell, Director and Head of Industrial Services at Savills Vietnam, which facilitated the factory lease, said Phuoc Dong Industrial Park offers a combination of modern infrastructure, strategic connectivity and access to skilled labour that aligns with Thantawan’s operational needs.

Besides, the partnership underscores Tay Ninh’s appeal as a destination for industrial investment, especially for companies seeking competitively priced, ready-built facilities outside of traditional hubs like Ho Chi Minh City, Binh Duong and Dong Nai, he said.

Tran Manh Hung, chairman of Saigon VRG Investment JSC, which invests in Phuoc Dong Industrial Park, said facilities at the IP have been designed to accommodate diverse industries and meet the precise technical requirements of Thantawan’s packaging plant.

He pledged to ensure that the project will progress smoothly and soon begin stable production./.

First Vietnam Dialogue opens new avenues for Vietnam-Germany financial cooperation

The first Vietnam Dialogue, a thematic forum on capital investment in Vietnam, convened on November 19 in Frankfurt, Germany, bringing together Vietnamese and German enterprises in banking, capital management, and financial technology.

Initiated by the German consulting firm Vietnam Advisors, the event aimed to establish a platform connecting policymakers, banks, finance, and technology firms, and top legal experts to foster collaboration in capital and financial technology between the two nations.

Vietnamese Deputy Prime Minister and Minister of Finance Ho Duc Phoc delivered a video message emphasising the country’s vast potential for development.

Vietnam will create the best conditions possible and offer consistent policies to attract foreign investment, the official affirmed. With a commitment to advancing the digital and green economy, high-tech platforms, artificial intelligence (AI), and equitable energy transition, Vietnam is looking forward to the participants' contributions of ideas and investments joining Vietnam in fostering growth in the new era.

Dr Karsten Stroborn, Director General for Markets at Germany’s independent central bank Deutsche Bundesbank, noted the robust growth of the two countries’ relations and their positions as a key trade partner of one another in their respective regions. He expressed his hope that the dialogue would become an annual event, serving as an essential platform to bolster bilateral trade and investment cooperation.

Vietnamese Ambassador to Germany Vu Quang Minh shared his wish that Vietnam could capitalise on domestic and international resources, as well as support from German investors and organisations, in a bid to drive development in the coming era.

Jens Rübbert, Managing Director and Regional Head of Asia/Pacific at Germany’s Landesbank Baden-Württemberg (LBBW) and Chairman of the EU-ASEAN Business Council, praised Vietnam’s impressive growth and steady foreign direct investment (FDI) inflows. He emphasised the trade enhancement role of the EU-Vietnam Free Trade Agreement (EVFTA), effective from 2020, and Vietnam's potential to take advantage of shifting investment flows amid global trade tensions.

Nguyen Phi Lan, Deputy Director General of the Forecasting and Statistics Department at the State Bank of Vietnam (SBV), noted that the central bank has made significant strides in promoting environmentally responsible banking and supporting green investment projects. In the first nine months of 2024, green credit grew at over 22% annually, reaching approximately 650 trillion VND (25.57 billion USD).

Vietnamese financial institutions have increasingly adopted advanced financial tools to support sustainable development, he added./.

Canadian startup eyes Vietnam for emission-reducing diesel technology expansion

Vietnam is a notable destination for the Canada-based startup dynaCERT to expand its carbon emission reduction technology for diesel engines called HydraGEN, President and CEO of the firm Jim Payne told the Vietnam News Agency.

dynaCERT is eager to forge a joint venture with Vietnamese partners to bring its technology there, adding the technology uses simple electrolysis to turn distilled water into hydrogen and oxygen gases that are produced on demand, meeting increasingly stringent demand on emissions reduction and improving fuel efficiency.

Technology HydraGEN can cut overall emissions by up to 50%, with a remarkable 88% reduction in nitrogen oxide emissions, the most toxic gases generated from diesel engines, he explained.

Based on the new technology, dynaCERT designed and manufactured equipment for a wide range of diesel-powered machines of small trucks, heavy-duty vehicles, mining machinery, locomotives, and vessels, among others.

Payne revealed that dynaCERT wants to reach out to the Vietnamese market that is housing a large number of cargo ships.

The company has garnered global attention due to its ability to diversify product range to meet market demands. The company’s entry-level products are priced at approximately 6,000 USD, with users expected to recover the cost within one to two years through fuel savings and carbon credits.

The company stands ready to open a manufacturing plant in any region where purchasing power could hit 1,000 units annually.

With more than 100 million diesel engines produced globally each year, dynaCERT’s technology is seen as a vital solution to reducing emissions, contributing to a greener environment./.

Vietnam's internet economy projected to hit 36 billion USD in 2024

Vietnam's e-commerce and digital economy remain highlights of the country’s socioeconomic development, with the internet economy to reach 36 billion USD this year, marking a 16% increase compared to 2023, heard a forum on digital transformation of industry and trade in 2024 in Hanoi on November 21.

In his opening remarks at the forum, Deputy Minister of Industry and Trade Truong Thanh Hoai stated that most international organisations have expressed a more optimistic outlook for global economic growth in 2024, projecting the global GDP growth rate to reach approximately 3.2%.

According to the 9th edition of the e-Conomy Southeast Asia report released by Google, Temasek, and Bain & Company on November 5, retail e-commerce continues to be a key pillar of Vietnam's digital economy, contributing 22 billion USD to the country’s GDP, 18% higher than the previous year, accounting for 61% of the total size of the Internet economy.

The report said that Vietnam's high growth rate is expected to remain stable, driven by its manufacturing, processing, and export. By 2030, the Gross Merchandise Value (GMV) is projected to range from 90 to 200 billion USD, reflecting the ongoing expansion of Vietnam's digital economy and e-commerce market.

In 2024 and the years ahead, with such robust growth, Vietnam's e-commerce and digital economy are poised for even stronger development, becoming one of the key drivers of economic growth.

This period represents a crucial opportunity to establish new models and strategies, leveraging digital technologies to enhance the competitiveness and resilience of businesses and organisations, it said.

The official said the ministry has issued several policies to promote the digital transformation of the industry and trade sector in line with the national strategy for developing digital economy and society.

The ministry aims to strengthen its role as a connector between government agencies, local departments of industry and trade, associations, organisations and businesses in the digital transformation process, towards proposing policies and solutions to effectively promote e-commerce and the digital economy within the industry and trade sector.

According to Tran Minh Tuan, Director of the Department of Digital Economy and Digital Society under the Ministry of Information and Communications, with a market of 100 million people, accounting for 1.23% of the world population, Vietnam's potential for e-commerce development remains large./.

E-commerce connection and development forum to be held

The E-commerce Connection and Development Forum 2024 on the theme 'Cross-border e-commerce: Export opportunities for Vietnamese products' will be launched in Hanoi on November 26 by the Department of E-commerce and Digital Economy under the Ministry of Industry and Trade.

Vietnam is one of the fastest growing e-commerce markets in Southeast Asia. According to reports by Google and Temasek and Bain & Company, in 2023, the value of the Vietnamese e-commerce market reached more than 20 billion USD. According to the government news site chinhphu.vn this figure is expected to increase to 52 billion USD in 2025.

Alongside opportunities from Free Trade Agreements, micro, small and medium-sized enterprises (MSMEs) in Vietnam are shifting their business from traditional channels to e-commerce.

Cross-border e-commerce has become an important route for exports, again expanding the consumption market for Vietnamese goods.

However, MSMEs also face difficulties and challenges when exporting goods via e-commerce. Specifically, many of them lack the necessary skills to operate e-commerce platforms and optimise user experience.

Regarding logistics, the transportation and warehousing systems have not developed evenly, making it difficult to meet international delivery needs.

Meanwhile, complex regulations and tax differences between countries make cross-border business difficult.

They can also find it hard to compete with larger companies in terms of price and service quality.

Regarding market information, MSMEs often have difficulty collecting and analysing data to understand the international market.

Therefore, the E-commerce Connection and Development Forum 2024 aims to address these issues and introduce models and solutions to support MSMEs in promoting exports via e-commerce platforms.

The forum is expected to have the participation of 500 delegates from ministries, branches and localities, embassies and trade offices of some Asian countries in Vietnam, along with associations and Vietnamese and foreign enterprises.

At the working sessions, there will be presentations by domestic and international speakers on new export trends through cross-border e-commerce and the fastest way of approaching international markets for MSMEs.

At the same time, they will introduce to the enterprises warehouse models, O2O (online-to-offline) models and successful strategies in markets such as China, the Republic of Korea and Southeast Asia

In addition, the forum will help businesses grasp legal regulations on cross-border e-commerce, customs procedures, taxes and legal issues in Vietnam, China and South Korea and build appropriate business plans.

Alongside the main forum there will be more than 80 exhibition booths to help businesses seek trade opportunities, establish long-term cooperative relationships with foreign suppliers, logistics partners and e-commerce platforms./.

Vietnam Airlines honoured as five-star Major Airline

The Airline Passenger Experience Association (APEX) has honoured national flag carrier Vietnam Airlines with a five-star rating in the Major Airline category.

The APEX Awards are based on third-party passenger reviews undertaken in partnership with TripIt, the highest-rated travel app in the world.

For the 2025 Awards, passengers reviewed nearly one million flights on more than 600 airlines on a five-star scale covering a total of five categories, including seat comfort, in-flight services, food and beverages, an entertainment system, and Wi-Fi service.

Dang Anh Tuan, execute vice president of Vietnam Airlines, shared that the ‘Five Star Major Airline’ is a noble title which reflects the outstanding efforts made by Vietnam Airlines in improving services in its efforts to bring the most seamless and most comfortable flights to passengers.

In order to bring a perfect flight experiences to customers, he added that Vietnam Airlines had constantly improved and upgraded its services and products. The airline is therefore proud to own one of the youngest and latest fleets in Asia, gathering together some of the most advanced aircraft today such as Boeing 787 Dreamliner, Airbus A350, and Airbus A321neo.

In 2023, Vietnam Airlines also became the first Vietnamese carrier to be recognised as a five-star global airline at the APEX awards.

Recently, Vietnam Airlines has been continuously awarded regional and global awards such as "Asia's Leading Airline - Economy Class", "Asia's Leading Cultural Airline", and “Asia's Leading Inflight Magazine 2023” of World Travel Awards 2023. It also was among the top 20 best airlines in the world for 2023.

APEX, a global nonprofit and one of the world's largest international airline associations, regularly conducts surveys and evaluates customer experience to help improve the overall quality of in-flight services.

Brazil represents largest soybean suppliers to Vietnam

Brazil was the largest soybean supplier to Vietnam during the past ten months of this year, reaching 1.07 million tons, equivalent to nearly US$535.76 million, up 20% in volume and 0.9% in value over the same period, according to preliminary statistics released by the General Department of Customs.

Throughout the reviewed period, the South American country's soybean supply accounted for 59.2% of the total volume and 57.3% of the total soybean import turnover of Vietnam.

The past ten months saw the nation’s soybean imports hit close to 1.82 million tons, worth nearly US$935.84 million.

The second largest market was the US, with 568,705 tons, equivalent to US$301.57 million, accounting for 31.3% of the total volume and 32.2% of the total soybean import turnover.

It was trailed by the Canadian market, with 109,005 tons valued at US$ 64.42 million, making up for 6% of the total volume and 6.9% of the total soybean import turnover of the nation.

In Vietnam, soybeans are grown in 26 provinces and cities across the country, of which about 87.8% are in the North and 12.2% are in the South.

Domestically produced soybeans are used to make many types of food such as tofu, soy milk, soy milk powder, and soy sauce.

Because domestic production is not enough to meet consumption and processing needs, Vietnam imports a large amount of soybeans every year. While domestically produced soybeans are traditional varieties, most imported soybeans are genetically modified varieties.

According to agricultural experts, corn and soybeans are both familiar crops in Vietnam. However, the areas under these two crops is still small, and their productivity are far lower than those of other countries in the world.

Vietnam is currently the third largest importer of soybean meal and the ninth largest importer of soybeans in the world. Over the past 10 years, the country has consumed an average of nearly 2 million tons of soybeans each year.

LG Innotek invests VND6.8 trillion Hai Phong plant expansion

LG Innotek has announced that it will invest KRW375.9 billion, equal to VND6.8 trillion, to expand its production subsidiary in the northern province of Hai Phong.

LG Innotek  will invest VND6.8 trillion to expand its production subsidiary in the northern province of Hai Phong.
According to Business Korea, the investment period has been set from November 23 to December 31, 2025.

This move is part of a LG’s plan which was announced last year, with LG Innotek committed to investing KRW1.3 trillion in expanding its production capabilities in the Vietnamese market.

It also aims to meet the demand of optical solutions whilst enhancing the company's overall competitiveness.

The Korean outlet revealed that the expansion is expected to more than double the camera module production capacity of the plant. This increase in capacity will therefore serve to meet customers’ demand stably whilst boosting both domestic and international supply chains.

Headquartered in Seoul in the the Republic of Korea, LG Innotek is one of the top electronic components manufacturers in the world for optic solutions for smartphones, substrates for semiconductors, and automotive components.

With a total of 183 projects worth US$11.5 billion, the Republic of Korea (RoK) ranks first among 39 countries and territories investing in the northern city.

Việt Nam's stock market recovers but outlook remains uncertain

Việt Nam's stock market is experiencing a recovery phase after a significant correction, but analysts caution that this rebound may not be sustainable and requires more time to become stable.

Following a prolonged period of volatility, the VN-Index is approaching a critical resistance level, raising the question of whether the market has enough momentum to break through or if it is merely undergoing a technical rebound before further corrections.

By the end of the last trading session of the week, the VN-Index gained 9.53 points, or 0.78 per cent, closing at 1,228.1 points. Meanwhile, the HNX-Index slightly declined by 0.24 points, or 0.1 per cent, to 221.29 points compared to the previous week.

Market liquidity has not fully improved, with trading volumes on the HoSE dropping by approximately 17 per cent, reflecting investor caution. Furthermore, the market showed significant divergence, with recoveries concentrated in banking, retail, finance and particularly telecommunications sectors, while other sectors exhibited no clear signs of recovery.

Foreign investors maintained strong net-selling activities, with a total net value of nearly VNĐ5.199 trillion on the HoSE. However, the scale of net selling gradually decreased and foreign investors even turned to net buying towards the end of the week. Key purchases included HDG and TCB stocks, offering positive signals for foreign investment inflows.

Head of Analysis at Saigon-Hanoi Securities (SHS), Phan Tấn Nhật, noted that the VN-Index is in a recovery phase after a sharp decline. He expects the index to test resistance levels around 1,230 and 1,250 points while finding support at approximately 1,220 points. Regarding the VN30-Index, Nhật highlighted the need for stronger momentum and improved liquidity to surpass the 200-day moving average at around 1,290 points.

"The stock market has experienced a volatile year within a narrow range, pressured by strong foreign net-selling, exchange rate fluctuations and capital outflows from the real estate sector. However, the market's medium-term fundamentals are gradually improving, with many stocks and sectors at attractive valuations, presenting new investment opportunities," Nhật observed.

He forecasted strong market divergence, with the VN-Index likely forming a floor around 1,200 points—the 2018 peak level—and recommended investors maintain balanced portfolios. He advised prioritising investments in fundamentally sound stocks with strong third-quarter results and promising growth prospects.

A report by Vietcombank Securities (VCBS) highlighted the potential for increased short-term profit-taking pressure. Indicators suggest that the market may continue to experience fluctuations during its recovery. Currently, the VN-Index is nearing its 20-day moving average with a short-term resistance at 1,240 points.

However, VCBS analysts noted that if liquidity and inflows improve in the coming week, the VN-Index could target the 1,240–1,242 point range.

VCBS experts advised short-term investors to exercise caution, consider profit-taking for stocks that have reached their targets and monitor for signs of weakening. They also suggested using market fluctuations to engage in short-term trading, focusing on stocks attracting capital, such as banking, retail and tech-telecom sectors.

On the other hand, medium to long-term investors were encouraged to hold onto stocks with strong profitability and potential price appreciation based on fourth-quarter performance expectations. Additionally, they recommended selectively increasing exposure during market dips, especially in leading stocks with strong fundamentals and positive business results.

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