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<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/042025/11/16/dien-8323-55020250411163110.jpg?rt=20250411163111" alt="Workers of Ho Chi Minh City Electricity Corporation. (Photo: nhandan.vn)"></figure></td></tr><tr><td>Workers of Ho Chi Minh City Electricity Corporation. (Photo: nhandan.vn)</td></tr></tbody></table></figure>In response, the Ministry of Industry and Trade issued the 2025 Power supply and grid operation plan (adjusted under Decision No. 3300/QĐ-BCT dated December 15, 2024). Total electricity production and imports for 2025 are forecast to reach 347.5 billion kWh, up 12.5% from 2024. During peak months, from April through June, electric load demand could increase by over 14%.Even before the peak heat, data from March already shows a sharp rise in electricity usage. The National Load Dispatch Centre (NSMO) reported an average daily load of 874.5 million kWh, up 47.8 million kWh compared to the same period in 2024.In Ho Chi Minh City alone, the average daily electricity consumption in March reached 86.97 million kWh, an increase of 16.32% from February. Residential consumption rose to 42.64 million kWh/day, up 19.81%. With April expected to bring peak heat, no rainfall, and stifling conditions, the city’s electricity usage may hit 100.8 million kWh/day, up 34.83% from February and 15.5% from March.To ensure a safe and stable power supply, the Ministry of Industry and Trade and Vietnam Electricity (EVN) are implementing measures including water level management in hydropower reservoirs, securing stable coal supply, and ensuring fuel availability.EVN has also finalised contingency plans for extreme heat, enhanced northbound power transmission, regulated reservoir water discharge, and accelerated maintenance of power units.

This year’s hot season is expected to begin in the second half of April across many parts of Vietnam and last for two to three months, according to the National Centre for Hydro-Meteorological Forecasting. As a result, electricity consumption is projected to surge dramatically.

Ensuring stable power supply during peak summer demand

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/4/10/btct-1744270667959934896302.jpg" alt="ASEAN economic ministers discuss U.S. tariff policy- Ảnh 1."></figure>&nbsp;Minister of Industry and Trade Nguyen Hong Dien attends the ASEAN Special Economic Ministers' Meeting on the U.S.' tariff policy, April 10, 2025 -Photo: VGPThe meeting was attended by the economic ministers of ASEAN Member States, the ASEAN Secretary-General, and Timor-Leste as an observer. The Vietnamese delegation was led by Minister of Industry and Trade Nguyen Hong Dien, accompanied by representatives from the Ministry of Foreign Affairs and relevant departments under the Ministry of Industry and Trade.The meeting discussed the latest geopolitical developments, including the U.S. reciprocal tariffs announced on 2 April 2025 with its impact on ASEAN Member States and ASEAN’s collective response going forward.Addressing the meeting, the Vietnamese Minister said, Viet Nam has taken a proactive approach in engaging with the U.S. via exchanges, dialogue, and negotiations.ASEAN needs to remain united, calm, and steadfast in its cooperation with the U.S., prioritizing the promotion of cooperation with external partners in general, and the U.S. in particular, in areas of mutual interest, thus realizing long-term development goals while also enhancing ASEAN's position in the new context, he urged.He also acknowledged and voiced his support for the content of the Joint Statement that had been discussed by ASEAN Member States.He emphasized that the Statement reflects ASEAN's unity and proactive role amid increasingly complex and unpredictable global trade developments.Viet Nam advocates ASEAN to adopt a comprehensive, flexible, and practical approach to strengthening economic resilience and promoting supply chain diversification via making effective use of existing Free Trade Agreements (FTAs), particularly through the upgrade of the ASEAN Trade in Goods Agreement (ATIGA), noted Nguyen./.

Virtual Special ASEAN Economic Ministers’ Meeting tool place on April 10 under the chair of Tengku Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry of Malaysia and Chair of the ASEAN Economic Ministers’ (AEM) Meeting this year.

ASEAN economic ministers discuss U.S. tariff policy

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/042025/08/17/spain-120250408171442.jpg?rt=20250408171443" alt="Prime Minister Pham Minh Chinh (right) receives Spanish Ambassador to Vietnam Carmen Cano De Lasala in April 2024. (Photo: VNA)"></figure></td></tr><tr><td>Prime Minister Pham Minh Chinh (right) receives Spanish Ambassador to Vietnam Carmen Cano De Lasala in April 2024. (Photo: VNA)</td></tr></tbody></table></figure>Spanish Prime Minister Pedro Sanchez’s official visit to Vietnam from April 8 to 10, made at the invitation of his Vietnamese counterpart Pham Minh Chinh, is expected to create great momentum and serve as a launchpad for the two countries to elevate their relations to a new, more practical and effective level.The trip is the first official visit to Vietnam by a Spanish PM since the countries established their diplomatic ties in 1977, and also the first by a high-ranking leader of the European country in 19 years, since the tour by King Juan Carlos and Queen Sofia in 2006. It demonstrates Spain’s strong commitment to deepening ties with Vietnam and also highlights Vietnam’s growing role and position in the region and the world. It is hoped to pave the way for a more dynamic and robust economic and trade partnership between the two countries in the coming years.Strategic partnership grows strongerRelations between Vietnam and Spain date back five centuries, beginning with trade ties when Spanish merchants first arrived at Hoi An Port to establish a thriving commercial presence in the region. The two countries officially established diplomatic relations on May 23, 1977.Over the past 48 years, Vietnam and Spain have steadily expanded their friendship and cooperation across multiple fields. Bilateral ties has grew even stronger and more comprehensive since the establishment of the "strategic partnership towards the future" during President Nguyen Minh Triet’s visit to Spain in December 2009. Notably, Spain was the first EU country to become a strategic partner of Vietnam.In recent years, the two sides have built up a close relationship and extensive cooperation based on mutual trust and understanding, fostered through regular mutual visits and cooperation at all levels.Most recently, PM Chinh met with his Spanish counterpart Sanchez on the sidelines of the G20 Summit in Rio de Janeiro, Brazil, in November 2024, during which the former affirmed that Vietnam always attaches importance to and wishes to further intensify the strategic partnership with Spain. He proposed increasing delegation exchanges at all levels, expediting the signing of a new joint action programme for the new period between the two governments, and boosting collaboration in transport infrastructure, renewable energy, science and technology, and agriculture.PM Sanchez agreed with Chinh’s proposals and suggested enhancing cooperation in developing infrastructure, particularly metro systems, urban railways, and city planning. He also proposed practical activities be held to celebrate the 50th founding anniversary of diplomatic ties in 2027.The two countries currently maintain the political consultation at the deputy foreign minister level, as well as a joint committee on economic, trade, and investment cooperation chaired by the Vietnamese Ministry of Industry and Trade.The two sides have also cooperated closely and supported each other at multilateral mechanisms, especially the UN and the ASEAN–EU relations.Bright prospects for economic and trade cooperation<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/042025/08/17/spain-220250408171502.jpg?rt=20250408171502" alt="The first solar power plant in Con Dao (Ba Ria-Vung Tau province) under a project to promote solar power development in Vietnam worth 140,000 EUR out of 1 million EUR in non-refundable aid from the Spanish Government. (Photo: VNA)"></figure></td></tr><tr><td>The first solar power plant in Con Dao (Ba Ria-Vung Tau province) under a project to promote solar power development in Vietnam worth 140,000 EUR out of 1 million EUR in non-refundable aid from the Spanish Government. (Photo: VNA)</td></tr></tbody></table></figure>Since the establishment of the strategic partnership, economic and trade links have seen strong growth. Spain is currently Vietnam’s fifth-largest trading partner in the EU while Vietnam is Spain’s biggest in ASEAN. From 2019 to 2024, bilateral trade maintained solid growth, averaging 8.7% annually.In 2024, the two-way trade hit a record of 4.72 billion USD, marking a 20% increase compared to 2023. The two countries' import-export structures are largely complementary to rather than directly compete with each other.The countries have effectively implemented the EU – Vietnam Free Trade Agreement (EVFTA), which took effect in August 2020. Spain was also among the first EU countries to ratify the EU – Vietnam Investment Protection Agreement (EVIPA), in January 2022, which Vietnamese Ambassador to Spain Doan Thanh Song described as a demonstration of Spain’s growing interest in Vietnam as a promising market for Spanish businesses. The recent opening of the Spanish Chamber of Commerce in Hanoi is also a vivid example of the European nation's determination to strengthen economic relations with Vietnam.As of January 2025, Spain had 97 investment projects worth 143.9 million USD in Vietnam, ranking 46th out of the 149 countries and territories investing in the Southeast Asian nation. Its investments are concentrated in the manufacturing and processing industry (56.1%) and accommodation and food services (32.8%). Ambasador Song said that notable recent Spanish investments focus on renewable energy and digitalisation, which are all priority sectors Vietnam is attracting high-tech foreign direct investment (FDI) to.Meanwhile, Vietnam had invested 64.2 million USD in three projects in Spain, operating in the fields of science - technology research and processing - manufacturing. That gave Spain the 24th place among the 79 overseas investment destinations of Vietnam.Regarding development cooperation, Vietnam has continually been one of the priorities in Spain's development cooperation policy. To date, the European nation has pledged over 1 billion USD in ODA loans and non-refundable aid for Vietnam through six cooperation programmes to support poverty reduction, gender equality, health care, and clean water supply, contributing significantly to local socio-economic development.According to Ambassador Song, there remains huge room for the two countries to boost all-around cooperation in the coming time, from economics, renewable energy development, agriculture, education - training, culture, sports, and tourism, to people-to-people exchanges.Strengthening Vietnam – Spain strategic partnershipThe diplomat noted Vietnam and Spain are currently at the stage of sharing the most common interests to date, creating a strong stepping stone for further deepening their strategic partnership. Both sides are actively seeking to expand and diversify their markets and partners. Spain holds a strategic position and influence not only in Europe, but also in Spanish-speaking countries, Latin America, and North Africa. Strengthening ties with Spain will thus help Vietnam broaden its cooperation and enhance its role and reputation in these regions.PM Sanchez’s official visit to Vietnam holds great significance as it reflects Spain’s determination to enhance cooperation with Vietnam, Song said, adding that by bringing along a delegation of Spain’s leading corporations to Vietnam during the visit, the Spanish side demonstrates a concrete step toward expanding economic engagement between the two countries.During the visit, the two sides are scheduled to discuss measures for bolstering cooperation, enhancing political trust, reinforcing the existing foundation of relations, and exploring new opportunities in potential areas, especially politics - diplomacy, trade - investment, science - technology, infrastructure, urban transport, sustainable development, and renewable energy. Several bilateral cooperation agreements are also expected to be inked on this occasion.Ahead of his visit, PM Sanchez stressed that Vietnam has become a magnet for foreign investment, and affirmed that thanks to the EVFTA, Spanish companies, especially those operating in infrastructure and renewable energy, will be able to seize business opportunities in Vietnam./.

The visit demonstrates Spain’s strong commitment to deepening ties with Vietnam and also highlights Vietnam’s growing role and position in the region and the world.

Spanish PM’s trip paves way for stronger cooperation with Vietnam

Market recovery expectedFrom late 2024 to the end of February 2025, domestic rice prices and export rice prices in Vietnam saw a continuous sharp decline. However, in the first half of March 2025, rice export prices began to rise slightly, while prices in other countries continued to drop.According to the Vietnam Food Association (VFA), as of March 20, 2025, Vietnam’s 5% broken rice was offered at US$400 per tonne on the export market, an increase of US$6 per tonne compared to the previous week. Notably, the price of 100% broken rice for export rose by US$12 to US$325 per tonne.Meanwhile, India’s 5% broken rice export price has dropped to its lowest level in 21 months due to weak demand and intense competition from other exporting countries. Similarly, Thailand’s 5% broken rice price has decreased by US$7–10 per tonne compared to the previous weekend due to exchange rate fluctuations.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/26/17/rice-exports-320250326170603.jpg?rt=20250326170605" alt="Vietnam’s rice exports: Time to compete by high-quality varieties"></figure></td></tr><tr><td>Experts say rice exports likely to bounce back in Q2 on price and market demand recovery</td></tr></tbody></table></figure>At a recent rice market conference, experts stated that global rice import demand is expected to remain high this year. Though India’s removal of its white rice export ban has put significant pressure on other exporting countries, especially for low-grade white rice, they said, Vietnamese rice has its own market segment.Since 80% of Vietnam’s rice exports are in the high-quality segment, the impact of India’s return to the market, mainly with lower-quality rice, is only temporary, said Pham Thai Binh, chairman of the Board of Directors of Trung An Hi-Tech Agriculture JSC.Indeed, Vietnam has an advantage of exporting fragrant and high-quality rice, which is favoured in premium markets such as the EU, the US, and Japan.In addition, limited domestic supply prevents Vietnam from engaging in panic selling, reducing short-term price pressures. Furthermore, forecasts for 2025 indicate that China will need to import 5-6 million tonnes, while the Philippines will continue importing 4.5-4.7 million tonnes.“Rice exports will thrive from Q2 2025, which will support the recovery of Vietnam’s rice prices,” remarked Binh.<h2 style="text-align:justify;">Market orientations outlined</h2>In the face of the complex developments in the global rice market and their impact on Vietnam’s rice exports, the Ministry of Industry and Trade (MoIT) has outlined key solutions to ensure supply, stabilize prices, and protect farmers’ interests.Accordingly, rice export management must adhere to a dual principle of maximizing market advantages to increase export value while ensuring domestic food security. The MoIT will continue to coordinate closely with the Ministry of Agriculture and Environment, the Ministry of Finance, and local authorities to implement flexible and practical policies.The MoIT has instructed relevant agencies to strengthen the inspection and supervision of the distribution system and strictly handle violations to prevent price hikes that could negatively impact domestic consumers.It has also directed rice exporters to strictly comply with regulations on maintaining a minimum circulating stock to ensure sufficient supply for the domestic market in case of market fluctuations.To maintain Vietnam’s rice position in the international market, the MoIT emphasized the need to improve rice quality, promote sustainable production, apply modern processing and storage technologies, and expand access to high-value export markets.It has assigned the Import-Export Department to take the lead, in collaboration with the Vietnam Food Association (VFA), in organizing trade promotion delegations to the Philippines and China. The Trade Promotion Agency has been instructed to research and allocate additional funds for rice trade promotion. The move aims to sustain traditional export markets such as the Philippines, Indonesia, Malaysia, and China.Source: VOV

Vietnam’s rice export prices have increased for the second consecutive week after a period of sharp decline, and experts predict that rice exports will improve in the second quarter of the year.

Rice exports likely to bounce back in Q2 on price and market demand recovery

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/25/ecb-1742866981981382964782.jpg" alt="ECB stands ready to help Viet Nam develop international financial centers - Ảnh 1."></figure>Standing Deputy Prime Minister Nguyen Hoa Binh (R) shakes hands with President of the European Central Bank (ECB) Christine Lagarde, Frankfurt, Germany, March 24 (local time), 2025 - Photo: VGPThe working is part of the Vietnamese official's on-going working visit to three European nations.Nguyen hailed the role of the ECB in controlling inflation, maintaining economic stability, and promoting sustainable growth—an exemplary model that Viet Nam wishes to learn from.Since the signing of the EU-Viet Nam Free Trade Agreement (EVFTA), cooperation pillars between Viet Nam and the EU have been strengthened, he said, adding that the upcoming visit of the EU President to Viet Nam will be an opportunity for the two sides to upgrade the relationship into a comprehensive strategic partnership.Currently, the EU has invested more than US$31 billion in over 2,600 projects in Viet Nam, while the Southeast Asian nation poured around US$500 million in 114 projects in the union. The EU is now Viet Nam's second-largest export market, following only the U.S.Viet Nam wishes to learn experience from advanced countries to improve its financial market, strengthen cash flow control, and manage macroeconomic policies, shared the Deputy Prime Minister.The Southeast Asian country is developing a legal framework to attract investment in building international financial centers. The Vietnamese National Assembly is expected to issue a resolution on the establishment of the thế centers this year, told Nguyen.The international financial centers will be developed towards providing modern financial services such as green finance, derivatives, and fintech, with a particular focus on meeting financial needs for large-scale infrastructure and energy projects, he said.The Deputy Prime Minister suggested ECB, with its extensive experience, provide support for Viet Nam in developing management policies, attracting investment, controlling risk, and launching anti-money laundering measures.ECB President Christine Lagarde, for her part, acknowledged and highly appreciated Viet Nam's direction in developing the international financial centers.The ECB would assign its legal department to support Viet Nam in building a suitable legal framework for the operation of the financial centers, she said, adding that the bank also shared insights on its independent supervisory mechanism, which meets global standards and is applied across Europe.Lagarde welcomed the proposal for Vietnamese officials to intern at the ECB to learn about the operational model of the international financial centers.Last year, the Politburo gave the green light for a project to develop a comprehensive international financial hub in Ho Chi Minh City and a regional financial center in Da Nang, central Viet Nam./.

Standing Deputy Prime Minister Nguyen Hoa Binh had a working session with the European Central Bank (ECB) in Frankfurt, Germany on March 24.

ECB stands ready to help Viet Nam develop international financial centers

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/20/lehoi-1742439750136556393574.jpg" alt="An Giang's festival receives UNESCO certificate as Intangible Cultural Heritage of Humanity- Ảnh 1."></figure>A ceremony to receive a UNESCO certificate recognizing the Ba Chua Xu (Holy Mother of the Realm) Festival at Sam mountain in the Mekong Delta province of An Giang as an Intangible Cultural Heritage of Humanity, Chau Doc, An Giang Province, March 19, 2025 - Photo: VGPThe event saw the participation of Deputy Prime Minister Mai Van Chinh, former Prime Minister Nguyen Tan Dung and UNESCO Representative to Viet Nam Jonathan Baker.It is Viet Nam's 16th intangible cultural heritage recognized by UNESCO and the second heritage in the Southern region (after the Art of Don Ca Tai Tu music and song) and, notably, the first traditional festival in the Mekong Delta receiving this honor.Speaking at the ceremony, the Deputy Prime Minister expressed hopes that international organizations, especially the UNESCO Viet Nam, will continue to accompany and support the country in preserving, promoting, and spreading traditional cultural values, integrating them into the global cultural heritage.Culture is the spiritual foundation of society and the soul of the nation, he said, emphasizing the need to focus on protecting the cultural space of the heritage by ensuring a harmonious balance between preservation and development, while maintaining the sacred landscape of Sam mountain.Mai also asked for preserving traditional rituals, raising community awareness about the value of heritage, investing in sustainable development of cultural tourism, and enhancing the promotion of heritage image with a view to further spreading influence, and inspiring cultural values of the festival.&nbsp;The festival has been preserved and practiced for generations in Chau Doc of An Giang province. It is held from the 22nd to the 27th of the fourth lunar month, at the Ba Chua Xu Temple on Mount Sam and the stone pedestal on the mountain to worship the Holy Mother.It reflects the culture of Viet Nam's southerners as well as cultural exchange and blending with the Khmer, Chinese, and Cham communities. The festival honors Ba Chua Xu and serves as a time for local residents to express their gratitude and respect for those who have rendered service to the nation./.

A ceremony was held on March 19 to receive UNESCO certificate recognizing the Ba Chua Xu (Holy Mother of the Realm) Festival at Sam mountain in the Mekong Delta province of An Giang as an Intangible Cultural Heritage of Humanity.

An Giang's festival receives UNESCO certificate as Intangible Cultural Heritage of Humanity

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/20/15/ngan-hang17052024-120250320152823.jpg?rt=20250320152824" alt="Total foreign ownership in Vietnamese commercial banks is capped at 30%, with some exceptions, under Decree No. 69/2025/ND-CP. (Photo: VNA)"></figure></td></tr><tr><td>Total foreign ownership in Vietnamese commercial banks is capped at 30%, with some exceptions, under Decree No. 69/2025/ND-CP. (Photo: VNA)</td></tr></tbody></table></figure>The Vietnamese Government has issued a new decree stipulating that foreign investors could only buy treasury stocks which were purchased by credit institutions before January 1, 2021.Decree No. 69/2025/ND-CP amends several provisions of Decree No. 01/2014/ND-CP regarding foreign investment in Vietnamese financial institutions. The changes specifically address purchase methods, ownership limits, and investor obligations.Accordingly, total foreign ownership in Vietnamese commercial banks is capped at 30%, with some exceptions, while that in non-bank credit institutions is no more than 50%.In special cases involving weak or troubled financial institutions, the Prime Minister will decide on ownership percentage of a foreign organisation or a strategic foreign investor. The new decree also allows foreign ownership in commercial banks undergoing mandatory transfers to exceed 30% but not surpass 49% of charter capital, provided the bank is not majority state-owned.If foreign investors surpass the regulated thresholds, they must reduce their ownership percentage within six months to comply with the limits.When the total foreign ownership in a credit institution exceeds the legal threshold, foreign investors cannot purchase additional shares until total foreign ownership falls below the prescribed limits.The decree will take effect on May 19, 2025./.

Decree No. 69/2025/ND-CP amends several provisions of Decree No. 01/2014/ND-CP regarding foreign investment in Vietnamese financial institutions. The changes specifically address purchase methods, ownership limits, and investor obligations.

Decree on foreign investment in Vietnamese financial institutions amended

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/19/ong-nguyen-hoa-binh-tham-anh-3-1742374207821955739962.jpg" alt="Viet Nam, UK strengthen cooperation on int’l financial center development- Ảnh 1."></figure>Standing Deputy Prime Minister Nguyen Hoa Binh (L) shakes hands with UK Deputy Prime Minister Angela Rayner in London, March 18, 2025 - Photo: VGP/Dinh HaiNguyen reaffirmed Viet Nam's commitment to strengthening the Viet Nam-UK Strategic Partnership and supporting the UK's increased engagement in the Asia-Pacific region.He called on the UK to share its expertise and encourage British enterprises and financial institutions' participation in developing international financial centers in Viet Nam; support Viet Nam in training and attracting high-quality human resources for this area.Nguyen also called on British businesses to invest in and expand their presence in Viet Nam, particularly in&nbsp;clean energy and renewable energy sectors.In response, Rayner welcomed Viet Nam's initiative to develop financial centers, expressing strong support for British enterprises, experts, and scientists to contribute to the project, thereby strengthening cooperation between the two countries.She also emphasized that both sides have significant opportunities to enhance trade and energy collaboration, particularly in new and renewable energy sectors.The British Government leader suggested that the two sides strengthen cooperation in combating crime, particularly in illegal immigration prevention.The two sides pledged to leverage trade agreements such as the UK-Viet Nam Free Trade Agreement (UKVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to facilitate market access, aiming to boost bilateral trade volume to US$10 billion and beyond.<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/19/ong-nguyen-hoa-binh-tham-anh-2-1742376045898819147715.png" alt="Viet Nam, UK strengthen cooperation on int’l financial center development- Ảnh 2."></figure>The roundtable on the development of financial centers in Viet NamAt the roundtable on the development of financial centers in Viet Nam, Deputy Prime Minister Nguyen Hoa Binh&nbsp;spoke highly of the contributions of the UK's financial institutions and experts to the process of building financial centers in Viet Nam.He encouraged British experts and businesses to continue providing insights and recommendations to help Viet Nam refine its legal framework, policies, and regulations for the establishment and operation of financial centers.

Standing Deputy Prime Minister Nguyen Hoa Binh met with British Deputy Prime Minister Angela Rayner and attended a roundtable on international financial center development in London on March 18 (local time), as part of his ongoing European tour.

Viet Nam, UK strengthen cooperation on int’l financial center development

"The SBV will innovate its credit management measures and create a roadmap to gradually reduce and eventually eliminate the allocation of credit growth quotas for each bank," said SBV Deputy Governor Dao Minh Tu.The credit growth quota system, which puts a cap on the credit expansion of each bank, has been maintained by the SBV since 2011, when Vietnam’s economy was experiencing hyperinflation stemming from excessive money supply. The tool was used to successfully control the quality of lending and ensure the safety of the banking system and macroeconomic stability.However, experts said that after over a decade of implementation, this tool is currently inappropriate and hinders people and businesses from accessing bank loans. Due to the quota system, even with a monetary surplus, banks cannot lend if they run out of their allotted credit quota.According to Le Hoai An, co-founder of the financial data provider Wigroup’s WiResearch, the credit policy was applied due to the characteristics of the Vietnamese economy at the time.From 2007 to 2010, the economy saw overheating credit growth, with continuous growth exceeding 30-40% per year. This did not create added value for the economy and also led to serious consequences like high inflation and an increasingly bad debt ratio.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/18/10/in_article/nhnn-tien-toi-bo-room-tin-dung20250318103322.jpg?rt=20250318103324" alt="Central bank to create roadmap for eliminating credit growth quota policy"></figure></td></tr><tr><td>Illustrative photo (Photo: diendandoanhnghiep)</td></tr></tbody></table></figure>However, An said, from 2013 to 2019, with a credit growth rate of only about 14-15% per year, the banking system could still support the economy to achieve a GDP growth rate of about 7%.“This proves that reasonable credit control does not mean restraining economic growth. On the contrary, it creates conditions for more stable and sustainable development,” An said.According to An, there has also been a shift in credit flow. Before 2022, the growth rate of retail lending was often higher than that of corporate lending. Meanwhile in 2023, the growth rate of corporate lending was higher than that of retail lending for the first time.This trend was also seen in 2024 and is expected to continue this year. Therefore, the shift in the credit flow shows the need for more flexibility in allocation, expansion or elimination of the credit growth quota.The SBV can begin to gradually remove the policy when Vietnam's capital market is more developed, An said.Test runExperts suggest the SBV can choose the best commercial bank group to test the removal of the credit growth policy in its initial phase of implementation.“The SBV can experiment with allowing about the 15-20 best banks to freely increase credit. The remaining banks will still have to apply the credit growth cap,” suggested Dr Nguyen Tu Anh, former Director of the Centre for Economic Information, Analysis and Forecasting under the Central Economic Committee.However, Anh noted, testing the removal of the credit growth cap needs to be strictly controlled, because when the restriction is removed, the competitive environment between banks will become more intense. This will create motivation and encourage banks that are unable to freely increase credit to improve their governance quality and operational efficiency, so that they can join the group.For banks that cannot compete, solutions must be considered, such as merging or cooperating with each other to gain competitiveness.“In a market economy environment, competition is inevitable. Banks that are well-governed, have a good vision and do well will win this game,” Anh said.Anh proposed that banks must meet certain criteria and conditions to qualify for the pilot programme. This not only creates strong competitive pressure in the banking system, but also promotes better quality banks.Echoing Anh, An said that when removing the credit growth quota policy, the SBV needs to change the monitoring mechanism by tightening a series of financial indicators for banks, such as capital safety ratio, bad debt coverage ratio and other provisions."In particular, the SBV needs to closely monitor the situation to avoid capital flow going astray after removing the policy. If a bank has a lending rate for real estate or risky sectors that exceeds the safety limit, the SBV needs to take timely adjustment measures to ensure the stability of the financial system,” An noted.

As experts have said the credit growth quota policy for commercial banks is currently inappropriate and hinders customers in accessing bank loans, the State Bank of Vietnam (SBV) has announced plans to gradually remove the scheme.

Central bank to create roadmap for eliminating credit growth quota policy

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/13/viet-nam-la-hinh-mau-cho-cac-quoc-gia-dang-phat-trien-17418519221241647101140.png" alt="Viet Nam: A Beacon of Progress for Developing Nations, Says Former Indian Minister- Ảnh 1."></figure>Shrimp processing line for export in Binh Chanh district, Ho Chi Minh City. Photo: VNARegarding Viet Nam-India relations, Suresh Prabhu emphasized that Viet Nam is a key partner for India, not only in economic development but also in broader strategic cooperation.India seeks to deepen this partnership and implement further initiatives that benefit both nations, particularly in trade. He affirmed that bilateral relations will continue to strengthen.Prabhu described Viet Nam as a "model of development for any developing country" due to its successful integration into global supply chains.Also, he highlighted Viet Nam as a rare example of an economy that has opened up and achieved remarkable growth.As a result, Viet Nam stands as a testament to what can be accomplished—not only for its own benefit but also for the countries it partners with.In an era of global economic slowdown and mounting challenges, he asserted that Viet Nam's model offers valuable lessons for other nations.Furthermore, Prabhu underscored the importance of the Association of Southeast Asian Nations (ASEAN) to India, calling it a critical trade bloc and a key economic partner of the South Asian nation.He noted that India and Viet Nam share a broad partnership spanning strategic sectors such as economics, society, culture, people-to-people ties, and trade.Given this strong foundation, he suggested that both nations explore discussions on a potential bilateral Free Trade Agreement (FTA).Such an agreement, he argued, would facilitate trade in goods and services, unlock new business opportunities, and create more jobs in both countries./.

Former Indian Minister of Commerce and Industry Suresh Prabhu lauded Viet Nam as an exception in opening up its economy and achieving rapid development.

Viet Nam: A Beacon of Progress for Developing Nations, Says Former Indian Minister

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/12/party-chief-to-lam-1741768931062455902883.jpg" alt="New orchid hybrid named after Vietnamese Party chief, his spouse- Ảnh 1."></figure>General Secretary To Lam (center) and his spouse Ngo Phuong Ly (1st from L) and Singaporean Prime Minister Lawrence Wong at at the National Orchid Garden within the Singapore Botanic Gardens, as part of his official visit to the island city state, March 12, 2025 - Photo: VNAThe naming ceremony took place as part of To's official visit to the city state. This is a prestigious diplomatic tradition in Singapore, reserved exclusively for distinguished foreign guests.The new orchid species was hybridized from an orchid species naturally distributed in Viet Nam and the another in Singapore.This is the first visit to Singapore by To Lam in his capacity as the CPV General Secretary, marking a new milestone in the Viet Nam-Singapore bilateral relations.The visit is also expected to cement and deepen the ties between the CPV and the PAP, laying a solid political foundation for the bilateral relationship.It will also contribute to further promoting cooperation between the two countries in such areas as green economy, digital economy, science-technology and innovation, clean energy, and financial center development./.

A new orchid species in Singapore has been named "Papilionanda To Lam Linh Ly” in honor of General Secretary of the Communist Party of Viet Nam Central Committee To Lam and his spouse Ngo Phuong Ly.

New orchid hybrid named after Vietnamese Party chief, his spouse

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/10/17/hydrogen20250310172921.jpg?rt=20250310172922" alt="There remains untapped potential for Việt Nam to develop green hydrogen energy. (Photo: vneconomy.vn)"></figure></td></tr><tr><td>There remains untapped potential for Việt Nam to develop green hydrogen energy. (Photo: vneconomy.vn)</td></tr></tbody></table></figure>Despite the Vietnamese Government's recognition of hydrogen energy's potential and the launch of a national strategy, the adoption of hydrogen in Vietnam remains limited, experts have said.According to the Ministry of Industry and Trade (MoIT), the majority of domestic hydrogen demand in Vietnam is sourced from fertiliser factories, which account for approximately 316,000 tonnes per year as well as the Dung Quat oil refinery (39,000 tonnes) and the Nghi Son oil refinery and petrochemical complex (139,000 tonnes).The ministry said that while industries like steel manufacturing and float glass production use a small amount of hydrogen, this limited demand has contributed to the absence of a developed system for storing, transporting and distributing hydrogen in the country.Additionally, Vietnam has not yet begun exporting hydrogen energy, the MoIT noted.ChallengesExperts have highlighted significant challenges in the development of hydrogen energy in Vietnam, citing unclear investment guidelines, limited infrastructure and a lack of regulations.They have stressed the need for clear investment incentives and a robust regulatory framework to support large-scale production and infrastructure expansion.Le Ngoc Anh Minh, president of the Vietnam ASEAN Hydrogen Club, noted that hydrogen projects focusing on electrolysis using renewable energy are currently financially nonviable due to high production costs.Minh pointed out that major hydrogen projects in Europe and Australia are also facing delays or cancellations because of the same issue.According to the Vietnam Petroleum Institute (VPI), the cost of producing clean hydrogen (blue and green hydrogen) will remain high until the end of the year, with production costs in Vietnam being 1.3 to 2.1 times that of grey hydrogen.The institute emphasised that Government policies are essential to make clean hydrogen more competitive and to foster its development in the country.Minh further suggested that industries such as oil and gas, mining and chemicals should be involved in hydrogen production to leverage their existing expertise. He also stressed the importance of international collaboration, citing partnerships with China as a potential way to reduce production costs.He added that collaboration with the EU, the US and other hydrogen technology leaders could help strengthen Vietnam's position in the global hydrogen market.StrategyThe Hydrogen Energy Strategy to 2030 approved by the Prime Minister has opened up new development space for Vietnam's energy industry in a green, clean and sustainable direction, under the views and policies of the Party and State, as well as global development trends.Vietnam launched its hydrogen strategy in February 2024. The strategy sets an ambitious goal of producing 100,000 to 500,000 tonnes of green hydrogen annually by 2030, with a long-term target of 10 to 20 million tonnes per year by 2050. These targets align with the country's broader net zero emissions goal.The strategy includes plans to develop both blue hydrogen (from natural gas and carbon capture) and green hydrogen (from renewable sources), serving both domestic and export markets.Vietnam also plans to pilot hydrogen and ammonia cofiring in power generation as part of its National Power Development Plan (PDP8).The MoIT said several green hydrogen production projects are being developed in Tra Vinh, Ben Tre, Bac Lieu and Tien Giang.Some domestic and foreign investors are also collaborating with local authorities to research and propose further hydrogen production projects. Notable areas under consideration include Binh Dinh, Long An, Ninh Thuan, Quang Binh, Quang Tri, Soc Trang and Ho Chi Minh City./.

Vietnam's hydrogen strategy sets an ambitious goal of producing 100,000 to 500,000 tonnes of green hydrogen annually by 2030, with a long-term target of 10 to 20 million tonnes per year by 2050.

Call for increased use of hydrogen energy in Vietnam

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/4/danang-1741059692076345677570.jpg" alt="Emirates to open four air routes to Da Nang from June 2- Ảnh 1."></figure>According to the announcement of the airline, Emirates' four weekly services to Da Nang via Bangkok make it the airline's third gateway into Viet Nam, after Ha Noi and Ho Chi Minh City.Flights to Da Nang will operate with the Emirates Boeing 777 on Mondays, Wednesdays, Fridays and Sundays.The carefully timed flight schedule of the new linked service will provide travelers with convenient, optimized connections, and streamlined access to major European cities including London, Paris, Amsterdam, Manchester, Milan, and Rome, as well as major U.S. cities.Emirates flight EK370 will depart from Dubai at 9.00 (Dubai time) and arrives in Bangkok at 18.25 (local time). The flight will then depart from Bangkok at 20.10 (local time) and arrives in Da Nang at 21.50 (local time).The return flight EK371 will depart from Da Nang at 23.30 and arrives in Bangkok at 1.10 the next day. The flight will then take off at 3.40, arriving in Dubai at 6.50. All times are local.Lodging facilities in the central coastal city of Da Nang are set to serve 11.9 million tourists, including 4.8 million foreigners, in 2025, annual increases of 10 percent and 17 percent, respectively.As a popular tourist destination in central Viet Nam, the city plans to maintain its signature events in 2025 such as the Da Nang International Fireworks Festival, Da Nang Asian Film Festival, a food tour, a New Year celebration, and a beach tourism program.The 16th fireworks festival, scheduled to run from May 31-July 12, will light up the sky in six nights and feature 10 teams for the first time.Last year, Da Nang welcomed approximately 10.9 million visitors.The central economic hub has a total of 90 kilometers of coastline and dozens of beaches, including stunning My Khe. Meanwhile, the city's Ngu Hanh Son (Marble Mountain) district is renowned as a center for stone sculpture art, with Non Nuoc craft village standing at the foot of the Marble Mountain./.

Emirates, the world’s largest international airline, is set to further strengthen its presence across Asia with the launch of four weekly services to the central city of Da Nang from June 2.

Emirates to open four air routes to Da Nang from June 2

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/06/17/dt-120250306173711.jpg?rt=20250306173712" alt="Illustrative image (Photo: Internet)"></figure></td></tr><tr><td>Illustrative image (Photo: Internet)</td></tr></tbody></table></figure>Chairing the Government’s February meeting, PM Chinh stressed the importance of expediting fund distribution to accelerate projects' progress, Minister-Chairman of the Government Office Tran Van Son said at a press conference on March 5.Son noted that Vietnam’s socio-economic situation in the first two months of 2025 has been highly positive, with macroeconomic stability maintained, inflation under control, and key economic balances ensured.The consumer price Index (CPI) in the period increased by 3.27% compared to the same period in 2024. State budget revenue reached 25.4% of the annual estimate, up 25.7%. The export-import turnover grew by 12%, with a trade surplus of 1.47 billion USD. Foreign direct investment (FDI) reached over 6.9 billion USD, a rise of 35.5%, while FDI disbursement hit nearly 3 billion USD, up 5.4%.Industrial production has seen strong growth, with the index of industrial production (IIP) up 16.7% in February and 7% in the two-month period.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/06/17/dt-220250306173752.jpg?rt=20250306173753" alt="Minister-Chairman of the Government Office Tran Van Son speaks at the press conference. (Photo:VNA)"></figure></td></tr><tr><td>Minister-Chairman of the Government Office Tran Van Son speaks at the press conference. (Photo:VNA)</td></tr></tbody></table></figure>Disbursement of public investment capital amounted to 60.4 trillion VND, equivalent to the same period in 2024, reaching 7.32% of the planned allocation.Additionally, Vietnam successfully hosted the ASEAN Future Forum 2025 and other high-level diplomatic events, further enhancing its international standing. Many global institutions remain optimistic about Vietnam’s economic outlook for 2025.Challenges &amp; key prioritiesDespite these achievements, the PM and Government members also acknowledged various challenges and shortcomings, including complicated and unpredictable international developments that have continued to impact Vietnam’s economy. Institutional and legal bottlenecks are still a major obstacle to economic growth. Accessing capital and mobilising resources and accessing credit remains challenging, along with slow domestic demand recovery.The Government leader outlined major tasks and urgent priorities, emphasising the goal of achieving a GDP growth rate of at least 8% in 2025.He underscored the importance of the implementation of an active, flexible, timely, and effective monetary policy in harmony with an appropriate expansionary fiscal policy.Public investment should be accelerated along with fine-tuning government bond issuance plans to secure additional capital for national key projects. Efforts should be made to increase revenue, cut down expenses and reduce taxes, fees and charges, he added.The PM emphasised that it is crucial to ensure there is no shortage of electricity for production, business and consumption.The Government leader also highlighted the need to revitalise traditional growth drivers, foster new ones as well as science-technology innovation and digital transformation.Agencies were urged to expand the "Vietnamese people prioritise using Vietnamese goods" campaign with new approaches; develop visa policies tailored for key international partners, including visa exemptions for global billionaires.Deputy Prime Minister Tran Hong Ha was assigned to hold working sessions with provinces in the Mekong Delta on rice production and exports, infrastructure development, and saline intrusion mitigation.The PM directed localities to continue tackling long-standing issues while accelerating major initiatives such as the construction of 1 million affordable housing units, prioritising people under 35, and eliminating substandard houses.

Prime Minister Pham Minh Chinh has instructed ministries, agencies, and localities to finalise the allocation of the 2025 state investment plan by March 15, warning that unallocated funds will be withdrawn and reassigned to high-priority projects.

PM urges timely allocation of state investment funds

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/344443456812359680/2025/3/5/nguyen-duc-chi-17411644727661807935892-1741167457978628637902.jpg" alt="Viet Nam to pilot digital assets and cryptos at financial centers- Ảnh 1."></figure>Deputy Minister of Finance Nguyen Duc ChiNguyen made the announcement at a Government's press briefing which was held in Ha Noi on March.He said the ministry was tasked to report the Government about a draft resolution on pilot digital asset and cryptocurrency trading this month.&nbsp;Viet Nam currently lacks a clear definition of virtual currencies and digital assets. Existing regulations only address the concept of electronic money tied to fiat currencies, such as prepaid bank cards and e-wallets.Data from CoinGecko indicates that the global cryptocurrency market value peaked at nearly US$3.3 trillion on November 14, 2024.The flows of digital assets into Viet Nam in 2023 reached US$120 billion, as reported by market analysis organization Chainalysis.Viet Nam ranks among the top three countries globally in cryptocurrency ownership with 21 percent of Vietnamese population only after the United Arab Emirates and the U.S.&nbsp;&nbsp;Cryptocurrencies are not banned in Viet Nam, but are not yet recognized as assets. The lack of a legal framework for these assets has led many businesses to register in Singapore or the U.S. before operating in Viet Nam, which reduces the country's competitive advantage and results in tax revenue losses.From a user perspective, the lack of transparency in this area increases transaction risks./

A pilot program for fintech activities, including digital asset and cryptocurrency trading at financial centers will be submitted to the Prime Minister this March, said Deputy Minister of Finance Nguyen Duc Chi.

Viet Nam to pilot digital assets and cryptos at financial centers

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/2/27/sanbay-17406483179061179224923.jpg" alt="National Aviation Security Center to be set up - Ảnh 1."></figure>The newly-established center will provide aviation security services at airports, airfields, and facilities for processing cargo and postal items for air transport.Starting from March 1, the Ministry of Public Security will officially oversee and implement aviation security nationwide.The provincial police is tasked to supervise and control aviation security at the airport based provinces and cities, namely Quang Ninh (Van Don Airport), Hai Phong (Cat Bi Airport), Hue (Phu Bai Airport), Can Tho (Can Tho Airport), Lam Dong (Lien Khuong Airport), Dak Lak (Buon Ma Thuat Airport), Kien Giang (Rach Gia Airport), Cau Mau (Ca Mau Airport), Ba Ria-Vung Tau (Con Dao Airport), Binh Dinh (Phu Cat Airport), Gia Lai (Pleiku Airport), Phu Yen (Tuy Hoa Airport), Quang Nam (Chu Lai Airport), Quang Binh (Dong Hoi Airport), Dien Bien (Dien Bien Airport), Thanh Hoa (Tho Xuan Airport) and Nghe An (Vinh Airport).The Civil Aviation Authority of Viet Nam estimated that the aviation market handled 78.3 million passengers and 1.21 million tons of cargo in 2024, reflecting year-on-year growth of 7.7 percent and 13.4 percent, respectively./.

A National Aviation Security Center will be set up under the Ministry of Public Security's Immigration Department.

National Aviation Security Center to be set up

Market share increasesThe Agency of Foreign Trade under the Ministry of Industry and Trade said that according to statistics from China Customs, in 2024, China imported 190.9 thousand tonnes of coffee around the world, worth 972.6 million USD, up 24.0% in volume and 21.5% in value compared to 2023.In 2024, China’s average coffee import price reached 5,095 USD/tonne, down 2.1% compared to 2023, of which the average prices of coffee imports from Colombia and Ethiopia decreased; on the contrary, those from Vietnam increased sharply by 62.7% compared to 2023, reaching 4,176 USD/tonne. Last year, China imported coffee from 58 countries and territories around the world. Of those, the main coffee suppliers for the Chinese market included Brazil, Colombia, Vietnam, Ethiopia, and Indonesia. Among them, Brazil was the largest coffee supplier to China in 2024. The coffee imports hit 75.6 thousand tonnes, valued at 301.6 million USD, up 26.9% in volume and 36.4% in value compared to 2023.Brazil’s coffee market share in China’s total imports increased from 38.72% in 2023 to 39.62% in 2024.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/022025/26/17/in_article/xuat-khau-ca-phe20250226174228.png?rt=20250226174549" alt="China increases coffee imports from Vietnam"></figure></td></tr><tr><td>Vietnam is the third largest coffee supplier to China in 2024, with the export volume of 24.1 thousand tonnes, worth 100.6 million USD</td></tr></tbody></table></figure>In 2024, Colombia was the second largest supplier with China’s imports at 38.2 thousand tonnes, worth 189.7 million USD, up 77.1% in volume and 71.3% in value compared to 2023. Colombia’s coffee market share in China’s total imports increased from 14.0% in 2023 to 19.9% ​​in 2024.Vietnam is the third largest supplier to China in 2024, with a volume of 24.1 thousand tonnes, worth 100.6 million USD, up 65.8% in volume and 169.8% in value compared to 2023. Vietnam’s market share in China’s total coffee imports increased from 9.44% in 2023 to 12.62% in 2024.Vietnam’s coffee export prices bounce backAccording to the General Department of Vietnam Customs, Vietnam’s coffee exports in January 2025 reached 134,005 thousand tonnes, worth approximately 729 million USD, up 5% in volume and 6.2% in value compared to December 2024, but down sharply by 43.7% in volume but still up 0.3% in value compared to the same period of 2024.The reason is that Vietnam’s coffee export prices bounced back in January after falling at the end of 2024, averaging 5,440 USD/tonne, up 1.1% compared to December 2024 and up 78.1% compared to the same period last year.Regarding export markets in January 2025, Vietnam’s coffee exports to most traditional and potential markets decreased compared to January 2024. However, exports to some other markets, such as the Netherlands and Malaysia, continued to see growth.Despite this, the export value increased by more than 10%, reaching 2 billion USD. In January, the volume of Vietnam’s coffee exports to major markets decreased compared to the same period last year, except for some markets that maintained high growth rates, such as Malaysia, Mexico, South Africa, Israel, Cambodia, and Laos.The EU continued to be Vietnam’s largest coffee export market in January, with a volume of 66,117 tonnes, worth 355.5 million USD, accounting for 49.3% of the total volume and 48.8% of the value of the country’s total coffee exports, down 24.6% in volume and 35.1% in value compared to the same period last year.Similarly, the amount of coffee exported to other major markets, such as the US and Japan decreased by 30% and 40.8% year on year, but the export revenue still increased by 19.1% and 10.4% respectively. Coffee exports to some other markets also saw sharp declines compared to the same period last year, such as Russia decreasing by 47.5%; Algeria decreasing by 57.1%; China down 41.5%; UK down 18.8%; and the Philippines down 46.1%...On the contrary, some markets sustained export growth compared to January 2024 are the Republic of Korea increasing by 3.1%, Malaysia increasing by 12%, and especially Mexico up 464.5%, and South Africa surging by 5,023%...<figure class="table"><table><tbody><tr><td>In the first 4 months of the 2024-2025 crop season (October 2024 to January 2025), Vietnam’s coffee exports decreased by 39.2% compared to the same period of the previous season, reaching only 370,091 tonnes.</td></tr></tbody></table></figure>Khanh Ly

In 2024, Vietnam is the third largest coffee supplier to China with the export volume of 24.1 thousand tonnes, worth 100.6 million USD, marking a 65.8% increase in volume and 169.8% in value compared to 2023.

China increases coffee imports from Vietnam

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/022025/25/14/tax-land-rent-payment-deadlines-to-be-extended-this-year-7920250225143400.jpg?rt=20250225143401" alt="A taxation office in Ho Chi Minh City (Photo: VNA)"></figure></td></tr><tr><td>A taxation office in Ho Chi Minh City (Photo: VNA)</td></tr></tbody></table></figure>The Ministry of Finance (MoF) is seeking public feedback on a draft decree proposing an extension for the payment deadlines of value-added tax (VAT), corporate income tax, personal income tax and land rents in 2025.The total deferred amount is estimated at nearly 102 trillion VND (over 3.99 billion USD), doanhnhansaigon.vn reported.Under the draft decree, value-added tax (VAT) payments will be deferred for six months for amounts due in February, March, and the first quarter of 2025. Tax payments for April, May, June, and the second quarter of 2025 will be extended by five months. The total deferred VAT payments are estimated at 62 trillion VND, with the final payment deadline set for December 31, 2025.For corporate income tax, the ministry has suggested a five-month extension for provisional tax payments for the first and second quarters of 2025, with the total deferred amount estimated at 36 trillion VND.Business households and individual entrepreneurs will also benefit from an extended deadline for VAT and personal income tax payments for 2025, with the latest due date set for December 31, 2025. The total deferred tax amounts for this group are estimated at 350 billion VND.Regarding land rent, the proposal includes a six-month extension for 50% of the land rent payable in 2025 for enterprises, organisations, households and individual business owners who lease land directly from the State under annual payment agreements. The total deferred land rent is projected at 3.6 trillion VND.Despite positive signs of economic growth in 2024, Vietnam continues to face challenges, including economic stabilisation pressures, constrained credit access, rising bad debt, and slower public investment disbursement compared to the previous year.Several industries, including agriculture, forestry, fisheries, crude oil extraction, iron and steel production, machine tools, tobacco and beverages, are still struggling, with production levels stagnating or declining from 2023. The tourism sector has yet to see a strong recovery, while car production recorded only a modest growth of 2.94%.According to the MoF, this is a policy of extension, not a tax exemption or reduction. As a result, the State budget for 2025 will not be negatively impacted, since businesses and households will still be required to settle all deferred taxes and land rent by December 31./.

According to the MoF, this is an extension policy, not a tax exemption or reduction.

MoF proposes tax and land rent payment extension for 2025

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/022025/20/11/hung-yen20250220114940.jpg?rt=20250220114941" alt="Hung Yen Province's Pho Noi A Industrial Park"></figure></td></tr><tr><td>Hung Yen Province's Pho Noi A Industrial Park</td></tr></tbody></table></figure>Hung Yen borders Hanoi and has an advantageous transport infrastructure with connections to seaports, airports and major urban centres. To leverage these strengths, the province is focusing resources on building industrial park infrastructure to attract investment.Building technical infrastructure for industrial parksAt the Industrial Park No. 3 construction site, workers are rushing to complete the technical infrastructure. Nguyen Cong Hong, General Director of TDH Ecoland, said, “To overcome difficulties, Hung Yen established a steering committee for site clearance of key projects, making this process smoother. Within a short time, all 160 hectares of Industrial Park No. 3 was handed over to the investor.”Immediately after the land was cleared, TDH Ecoland and its partners focused on building technical infrastructure. In less than a year, Industrial Park No. 3 has essentially completed its technical infrastructure and begun operations. With its advantageous location adjacent to the Hanoi-Hai Phong Expressway, and particularly the policy of one-time land rental payments, it has drawn many FDI investment projects.Hung Yen Province occupies a strategic position in the Northern Key Economic Region, bordering Hanoi, with convenient transport infrastructure, including the Hanoi-Hai Phong Expressway, National Highways 5, 38, 39, and Hanoi’s Ring Road 4, connecting to seaports, airports and major northern urban centres. To capitalise on these advantages and create breakthrough economic development, the province has consistently focused on industrial park infrastructure development to attract investment.Vu Quoc Nghi, Head of the Hung Yen Industrial Parks Management Board, shared that to create favourable conditions for industrial park infrastructure construction, since 2021, the Provincial Party Committee Standing Board issued a directive on site clearance for infrastructure projects and a decision on establishing a steering committee for key projects during the 2021-2025 period, led by the Provincial Party Secretary. The province has mobilised the entire political system to persuade residents to agree to hand over land for socio-economic development projects.The steering committee for key projects meets monthly to review site clearance progress and issues directives to promptly resolve difficulties and obstacles. Consequently, between 2021 and 2024, the province cleared nearly 1,300 hectares of land for industrial park infrastructure development, almost triple the total area from 2015 to 2020.Industrial park developers have accelerated construction and invested in comprehensive technical infrastructure. In 2024, approximately 620 hectares of land were developed, nearly double from 2023, which brings the total area of industrial parks with technical infrastructure to about 2,500 hectares, representing 89% of the total area, with approximately 540 hectares remaining available for lease. Many industrial parks have become operational and attracted investment, notably the Thang Long II Industrial Park expansion, Industrial Park No. 3, Industrial Park No. 5, and the Clean Industrial Park.Integrated industrial park infrastructure has facilitated effective investment attraction. In 2024, Hung Yen Province received 86 projects, a 33% increase from 2023, with a total registered capital of 772 million USD and 11.6 trillion VND.The industrial parks have attracted many large high-tech projects. Notable examples include Nitto Vietnam’s 132 million USD project to manufacture LCD polarising films for smartphones and automobiles, Molex Vietnam’s 128 million USD project to produce optical cables and high-speed connection cables, and Arizon Vietnam’s 67.5 million USD project manufacturing RFID labels.Creating momentum for breakthrough growthAccording to the Prime Minister’s decision on industrial park development planning to 2030 with a vision for 2050, Hung Yen Province will have 35 industrial parks with a total area exceeding 12,000 hectares. Currently, the province has 12 industrial parks covering more than 3,123 hectares. Of these, 10 industrial parks (approximately 2,773 hectares) are operational and accepting secondary investment projects.Hung Yen Party Secretary Nguyen Huu Nghia shared that 2024 was a record year for the province’s investment attraction, with 180 projects totalling over 61 trillion VND and more than 1.5 billion USD. To date, the province has 2,371 active projects (1,755 domestic and 616 foreign) with total registered capital exceeding 370 trillion VND and over 8.5 billion USD.This achievement is significantly owed to the industrial parks’ contribution to attracting investment and helping drive high and stable economic growth for the province. In 2024, the province’s economy grew by 7.7% to 159.8 trillion VND and GDP per capita reached 121.3 million VND, up 8.8 million VND compared to 2023.To achieve breakthrough development strategic goals, Nghia stated that the province is determined to pursue a new growth model based on pillars, including the enabling role of government, focusing on promoting strong digital transformation, continuously improving institutions, investment environment, business climate and competitiveness, and strengthening the leading role of public investment.Simultaneously, the province will establish an ecosystem for clean, high-tech industrial development with selective new investment attraction policies that prioritise scale, modern technology, and environmental protection.Hung Yen is also accelerating urbanisation, developing large, smart, ecological urban areas linked with modern trade and services development, improving provincial competitiveness, and creating favourable conditions for businesses and investors to have equal access to information, business opportunities, investment and land.Hung Yen leaders regularly maintain contact and dialogue with businesses to promptly identify and address difficulties and obstacles facing them, strengthen investment and trade promotion activities, promote potential and business opportunities, and build the province’s brand and image domestically and internationally.In the coming period, the province will focus on reviewing and updating land use plans for industrial parks to be developed according to the master plan and adding newly established industrial parks to the list of provincial key projects.Provincial functional agencies have been directed to accelerate compensation, site clearance and land handover to industrial park investors for technical infrastructure construction and project reception.They are also increasing the implementation pace of approved industrial park infrastructure investment projects, striving to have approximately 2,000 hectares of cleared land ready for lease by the end of 2025.The province aims to have 30 industrial parks (9,588 hectares) by 2030 and 35 (over 12,000 hectares) by 2050, transforming Hung Yen into one of Vietnam’s strongest industrially developed provinces.

In 2024, Hung Yen Province attracted a record of nearly 4 billion USD in domestic and foreign investment, significantly contributing to the province’s industrial development efforts. The province aims for economic growth targets of 8% or higher in 2025 and beyond.

Hung Yen develops industrial parks to attract investment

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/344443456812359680/2025/2/18/food-17398654607911343693750.jpg" alt="Viet Nam emerges as fastest-growing food delivery market in Southeast Asia- Ảnh 1."></figure>The above finding was highlighted in Momentum Works' fifth annual "Food Delivery Platforms in Southeast Asia" report.It was estimated that the size of Viet Nam's food delivery market increased to US$1.8 billion in 2024 from US$1.4 billion in 2023.The report noted that the growth is contributed by factors of expanded customer segments, service areas and synergies with other business of the platforms.In Viet Nam, Grab took the lead, holding 48 percent of the market share. ShopeeFood came behind with 47 percent of the market share. Together, the two leading players are holding 96 percent of Viet Nam's food delivery market.The remaining share belongs to BeFood (4 percent) and Gojek (1 percent). However, Gojek officially pulled out of the Vietnamese market in September 2024.The report pointed out that after two years of subdued 5 percent growth, Southeast Asia's food delivery sector rebounded in 2024 with a 13 percent on-year increase, reaching a total GMV of US$19.3 billion./.

Viet Nam was the fastest-growing food delivery market in ASEAN in 2024, with a growth rate of 26 percent

Viet Nam emerges as fastest-growing food delivery market in Southeast Asia

<figure class="image image_resized" style="width:50%;"><img src="https://api.orangemedia.com.vn/images/thuong-mai-dien-tu-2_20240830030503.jpg"></figure>With the goal to be a dedicated consultant for your brand, Orange will answer to all of your questions and issues in the process of online advertising for your product. Each online advertising channel has some fixed effect with your product. There are many online advertising channels such as Google search engine advertising, social media ads (Facebook, Linkedin, Zalo, etc), online newspapers such as VnExpress, Dantri, Thoiluan24h, etc. Depending on the product and your target audience, we will give you the most suitable advertising channel.

With the goal to be a dedicated consultant for your brand, Orange will answer to all of your questions and issues in the process of online

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Marketing has changed as digital extends into all areas of our lives. While this gives advertisers greater opportunities, it also means customers expect more. Audiences today want services and content that meet their needs, wherever they are, whatever they're doing.At Orange, we're not just specialists in different types of digital marketing - we also know how to bring it together. By putting the customer at the center, we create simple, effective strategies that connect with people across every channel - and grow business in ways they can measure.We’re steadfast in our belief that clarity leads to better results and we use that thinking to power campaigns that help clients improve their marketing impact. We help clients across a diverse range of industries strengthen their brands, ramp up their marketing and grow their share of voice.VISION AND MISSIONOrange aims to become one of the pioneers in marketing. In addition to enhancing and developing traditional marketing such as event management, product promotion, we have been pioneering the expansion of the new Digital Marketing field with the expectation of welcoming the trend and connecting with Global.For Employees: At Orange, we believe “people are the precious assets of the nation" We want to become a second family to each member. We care and create the best condition to work for every member of the company.For customers: Orange always wants to bring the best products and services to customers. We work with the slogan "Bring the best solution to customers". Come to us and you will never be disappointed.For society: We bring benefits to society in a certain way in terms of marketing; create jobs and dynamic environment for young people who have the desire to express themselvesCORE VALUEAmbitiousWe work to make things better. Our aim is high and we never settle.ResponsibleQuality is our first purpose. We take responsibility for our actions. We openly communicate and treat people well in every job we do.CollaborativeWe work alongside media agency, marketing agency and state agency to achieving outstanding results by sharing ideas and knowledge with the best in the business.AgileWe move fast. Real-time reporting, close ties with media agency, and an instinct for trends means we spot opportunities first.PEOPLEOrange’s team has a solid foundation and passion for business management, marketing, finance and development solutions to help businesses grow their markets. Our team is talented and diverse, has the capacity to execute and speaks frankly, behaves in a positive way, accepts challenges and embraces the introduction of intelligent solutions based on modern knowledge. We employ people who are capable of leadership, creativity, enthusiasm in work and the ability to work as well as run a team. <a href="https://api.orangemedia.com.vn/document/ORANGE%20DA%20FIX_20250310040309.pdf">Corporate capability statement</a> &nbsp;

MARKETING HAS CHANGED AS DIGITAL EXTENDS INTO ALL AREAS OF OUR LIVES. WHILE THIS GIVES ADVERTISERS GREATER OPPORTUNITIES, IT ALSO MEANS CUSTOMERS EXPECT MORE. AUDIENCES TODAY WANT SERVICES AND CONTENT THAT MEET THEIR NEEDS, WHEREVER THEY ARE, WHATEVER THEY'RE DOING&nbsp;<figure class="table"><table><tbody><tr><td>At Orange, we're not just specialists in different types of digital marketing - we also know how to bring it together. By putting the customer at the center, we create simple, effective strategies that connect with people across every channel - and grow business in ways they can measure.</td><td>We’re steadfast in our belief that clarity leads to better results and we use that thinking to power campaigns that help clients improve their marketing impact. We help clients across a diverse range of industries strengthen their brands, ramp up their marketing and grow their share of voice.</td></tr></tbody></table></figure>

About

<figure class="image"><img src="https://api.orangemedia.com.vn/images/SEO-Skills_20240830030557.jpg"></figure>SEO - Search Engine Optimization (SEO) is now known as the most effective tool in Online Marketing System. SEO services have emerged since Google became the number one search engine in the world. SEO is the foundation for success. SEO is always a very important part of the campaign to reach customers. Our SEO services always ensure two main factors are high quality and affordable. You just need to come up with a requirement and we will offer a total SEO solution on search engines. Let us know what you need and we will help you.

SEO - Search Engine Optimization (SEO) is now known as the most effective tool in Online Marketing System. SEO services have emerged since Google

Our Expertise

<figure class="image"><img src="https://api.orangemedia.com.vn/images/rqpolxa6ivcvuzkbol5c1a1b4aea4f4_20240830030622.jpg"></figure>Digital Marketing is an activity that has many advantages in the period of internet explosion. However, it does not always deliver remarkable benefits, it’s a double-edged sword. Internet is multi-dimensional and that bring to users the right to speak their voice.Therefore, in order to have a successful Digital Marketing campaign, it is necessary to build a proper campaign from the beginning with the motto of prestige, focus on quality. Orange is pleased to bring you the Digital Marketing solution package as required by your brand to get maximum effect.

Digital Marketing is an activity that has many advantages in the period of internet explosion. However, it does not always deliver remarkable

Digital Marketing 

NEWS

<figure class="image image_resized" style="width:50%;"><img src="https://api.orangemedia.com.vn/images/social-media-marketing-1728x800_c_20240830030849.png"></figure>Always follow and understand the needs and behavior habits of people in modern life, making specialized social media marketing campaign such as Facebook Management, Forum Seeding, KOLs, Youtube Channel, Viral Clip,… is the responsibility of Orange Ltd. We devote our knowledge and time to your brand. This is what makes us the most trusted place in the hearts of consumers.

Always follow and understand the needs and behavior habits of people in modern life, making specialized social media marketing campaign such as

SOCIAL

<figure class="image"><img src="https://api.orangemedia.com.vn/images/service-spotlight-website-management_20240830030746.jpg"></figure>When creating a website or a fan page for business purposes, it will be very difficult to make benefits if introducing products without development orientation and innovative content ideas. Developing a website or fan page may seem simple but make it appear on search engines or gets interactions from internet users is not a simple task. Orange is the right place you need to go if you need help with your website and fan page.

When creating a website or a fan page for business purposes, it will be very difficult to make benefits if introducing products without development&nbsp;

MANAGING WEBSITE

<figure class="image"><img src="https://api.orangemedia.com.vn/images/adwords-tips_20240830031032.png"></figure>Google has now become the number one search engine in the world. In Vietnam, 90% of internet users use Google for their need of internet search. Therefore, Google Adwords has quickly used for online businesses to achieve maximum efficiency. We are here to bring you the Google Advertising service with the most outstanding features.

Google has now become the number one search engine in the world. In Vietnam, 90% of internet users use Google for their need of internet search

GOOGLE ADWORDS

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