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The Central Inspection Commission has just issued Instruction No. 15-HD/UBKTTW (Instruction 15), amending and supplementing Instruction No. 05-HD/UBKTTW dated November 22, 2022 of the Central Inspection Commission on implementing a number of articles in Regulation No. 69-QD/TW, dated July 6, 2022 of the Politburo on disciplining Party organizations and Party members who violate.Accordingly, Instruction 15 removes points 8.1, 8.2, Clause 8, Section III of Instruction 05. Clause 8, Section III of Instruction 05 stipulates disciplinary action against party members who violate population policy regulations.Previously, the Central Party Office sent a document to the Central Inspection Committee, the Government Party Committee, the National Assembly Party Committee, and the Ministry of Health Party Committee to notify the Politburo's opinion on the preliminary implementation of Resolution 21 on population work in the new situation and amending the regulations of the Party and State related to population policy.In particular, the Politburo assigned the Central Inspection Committee to advise and amend the regulations of the Central Executive Committee, the Politburo, the Secretariat related to handling violations of population policies and proactively amending Instruction No. 05 of the Central Inspection Committee in the direction of not disciplining cases of having a third child or more.Risk of labor shortagePreviously, experts recommended that disciplining Party members for having three or more children is no longer appropriate given Viet Nam's current low birth rate. The United Nations Population Fund (UNFPA) predicts that Viet Nam may become an aging country by 2036 and a super-aging society by 2049.According to the General Statistics Office, Viet Nam's population was estimated at 101.3 million people last year. Without timely intervention, within just ten years, Viet Nam will officially enter the ageing population stage, facing the risk of labor shortage in the future.Fertility rates are particularly low in big cities and industrial zones, where high child-rearing costs and work pressures cause many couples to delay or avoid having more children.The Ministry of Health (MoH) proposed each couple and individual should be empowered to decide on the number of children and the time of birth based on their circumstances. Additionally, the MoH also suggested extending maternity leave to seven months for women giving birth to a second child and providing support for renting and purchasing social housing.Viet Nam's total fertility rate is 1.91 children per woman which is below the replacement fertility rate of 2.1 children per woman and continues to decline./.

From March 20, 2025, civil servants and Party members having a third child or more will no longer be subjected to Party discipline, according to the Central Inspection Commission's guidelines (Instruction 15).

Party members permitted to have third child from March 20

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/24/17/singapore20250324171043.jpg?rt=20250324171044" alt="An overview of the working session on promoting cooperation between Singapore and Ca Mau Province, Vietnam. (Photo: Embassy of Singapore in Vietnam)"></figure></td></tr><tr><td>An overview of the working session on promoting cooperation between Singapore and Ca Mau Province, Vietnam. (Photo: Embassy of Singapore in Vietnam)</td></tr></tbody></table></figure>Despite a population of just over 6 million, Singapore is considered a beacon of economic and social development in Asia, marking its position as a prosperous nation with a strong economy and high living standards. In 2024, Singapore’s GDP growth reached 4.4%, the highest since emerging from the COVID-19 pandemic outbreak, far surpassing the 1.1% growth in 2023 and 3.8% in 2022. The Monetary Authority of Singapore (MAS) predicts that the country’s economy will continue its stable growth trajectory in 2025.Beyond its economic dynamism, Singapore is an active member of the international community, pursuing an independent and self-reliant foreign policy with a priority on economic development. It places great importance on relations with ASEAN countries and the bloc’s central role. As a founding member of ASEAN, Singapore continues to play a constructive role in fostering unity, cooperation, and development within the block. The country has been also maintaining strong relations with its neighbours, balancing its interactions with major powers, and advocating for a rules-based international order, peaceful dispute resolution, and multilateral trade systems.The more than five-decade-long journey of development between Vietnam and Singapore has yielded significant achievements. The two countries established diplomatic relations in 1973 and elevated their ties to a Strategic Partnership in 2013. Notably, during General Secretary To Lam’s official visit to Singapore from March 9 to 13, both sides agreed to upgrade their relations to a Comprehensive Strategic Partnership, ushering in a new phase with promising prospects for future bilateral cooperation.Among the various areas of cooperation, green economy and digital economy stand out as key pillars. Vietnam and Singapore established the Green Economy-Digital Economy Partnership in February 2023 and signed an agreement on renewable energy cooperation. Under this agreement, Vietnam will supply clean energy to Singapore, making a significant contribution to Singapore’s development.In the digital era, science, technology, and innovation are considered the main drivers of growth. According to the Vietnam News Agency, Professor Vu Minh Khuong from the Lee Kuan Yew School of Public Policy at the National University of Singapore noted that the digital economy is characterised by rapid development driven by technological advancements. He stressed that Vietnam has a vast pool of IT talent, and deepening cooperation with Singapore would provide substantial growth momentum for both countries.The regional media have also praised Vietnam-Singapore cooperation in the green and digital economies, recognising it as a model of successful ASEAN collaboration. Singapore-based OpenGov Asia highlighted the Green Economy-Digital Economy Partnership as a dynamic and promising cooperation that combines Singapore’s expertise in digital services and clean technology with Vietnam’s strengths in the energy and IT sectors. This synergy allows both countries to pursue long-term sustainable growth.Over the past half-century, the strong and friendly Vietnam-Singapore partnership has flourished in both breadth and depth. Amid rapid and complex regional and global changes, and in response to their respective development needs, both nations remain committed to strengthening their Comprehensive Strategic Partnership—an invaluable shared asset for their peoples.

The upgrading of relationship between Vietnam and Singapore to a Comprehensive Strategic Partnership in March 2025 has opened a new chapter in the history of bilateral relations. Amid global efforts to address challenges in digital transformation, the dynamic and effective cooperation between Vietnam and Singapore in the fields of green economy and digital economy not only benefits both countries but also stands out as a successful international partnership within ASEAN.

Vietnam, Singapore make efforts to enhance cooperation

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/22/pttg-1742611164173105115636.jpg" alt="Viet Nam, Luxembourg to sign MoU on cooperation in establishing international financial centers- Ảnh 1."></figure>Standing Deputy Prime Minister Nguyen Hoa Binh holds a working session with Luxembourg's Minister of Finance Gilles Roth, Luxembourg, March 21, 2025 - Photo: VGPThe agreement was reached by Standing Deputy Prime Minister Nguyen Hoa Binh and Luxembourg's Minister of Finance Gilles Roth during their working session in Luxembourg on March 21.Roth affirmed his strong desire to strengthen and deepen Viet Nam–Luxembourg relations, pledging to make utmost efforts and take concrete steps to support Viet Nam in establishing international financial centers.Viet Nam has a reliable financial infrastructure and a solid foundation for establishing international financial centers, he noted, adding that a financial center should be built on three key pillars, including the banking and insurance system; investment funds; and technology, including fintech, AI, digital assets, and tokenized assets.Nguyen, for his side, said the plan to establish international financial centers in Ho Chi Minh City and Da Nang is a crucial step that will create a significant boost in attracting resources and driving economic growth. Therefore, he expressed his hope that Luxembourg would share information and expertise on developing the legal infrastructure and regulatory framework for financial centers.The guest called on Luxembourg to support training and capacity-building for Viet Nam's workforce, help design policies to attract foreign investors to Viet Nam's financial centers, and encourage Luxembourg investors to do business in the Southeast Asian country and participate in its financial market.<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/22/nghivien-174261122527768734813.jpg" alt="Viet Nam, Luxembourg to sign MoU on cooperation in establishing international financial centers- Ảnh 2."></figure>Standing Deputy Prime Minister Nguyen Hoa Binh (L) meets Vice President of the Chamber of Deputies Fernand Etgen, Luxembourg, March 21, 2025 - Photo: VGPThe same day, Nguyen had a meeting with Vice President of the Chamber of Deputies Fernand Etgen, during which the latter said Viet Nam is a remarkable success story with an attractive investment environment, a strong voice in multilateral forums, and a continuously improving quality of life for its people.Etgen expressed his confidence in the success of Viet Nam's international financial markets.Nguyen asserted that Viet Nam values and seeks to strengthen its comprehensive partnership and cooperation with the European Union (EU), including Luxembourg, a strategic partner in green finance.He underscored the importance of enhancing bilateral trade, as well as cooperation in science and technology, education and training, tourism, and people-to-people exchanges.The guest called on Luxembourg Parliament to support the Luxembourg government and businesses in sharing their experience with Viet Nam in establishing and operating financial centers, including key areas such as developing green, sustainable finance, and managing digital assets.Both sides also discussed regional and international issues of mutual concern. They shared the view that disputes should be resolved peacefully via diplomatic means and with respect for international law, while calling for de-escalation of tensions and an end to the use of force./

Viet Nam and Lurxembourg have agreed on the need to early sign a Memorandum of Understanding (MoU) on cooperation in establishing international financial centers in Viet Nam

Viet Nam, Luxembourg to sign MoU on cooperation in establishing international financial centers

BJC BIGC Group, one of the largest conglomerates in Thailand, operates across a diverse range of sectors, from upstream glass and aluminum can packaging to midstream consumer staple manufacturing, healthcare trading and downstream retail. Over the past decades, the group has continuously expanded its investments, leveraging its expertise and extensive experience to strengthen its presence in the Vietnamese market. With a total investment of more than $1 billion in Vietnam, BJC BIGC Group currently provides solutions in packaging, consumer goods, healthcare, technical services, and retail.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/20/16/in_article/vietnam-thailand-potential-to-strengthen-retail-sector-cooperation-20250320165720.jpg?rt=20250320165723" alt="A variety of high-quality products imported from Thailand are available at MM Mega Market to serve Vietnamese consumers"></figure></td></tr><tr><td>A variety of high-quality products imported from Thailand are available at MM Mega Market to serve Vietnamese consumers</td></tr></tbody></table></figure>In the retail sector, MM Mega Market (MM) is among the largest modern wholesale and retail chains in Vietnam. After more than 20 years of operation and growth, MM has expanded to 21 wholesale centers and supermarkets nationwide, along with 6 sourcing and distribution platform, 8 B2B food service depots, and 2 central warehouses. The company currently employs over 4,000 staff, collaborates with 1,500 suppliers, and partners with hundreds of local farmers across the country.After the meeting, Mr. Umesh Pandey visited the Vietnamese and Thai product sections at MM Mega Market An Phú, HCMC. "We have established a significant presence in Vietnam’s retail sector. With a population of nearly 100 million, the majority of whom are young, Vietnam is a promising market that we aim to tap into. When combined with Thailand’s population of nearly 70 million, the two countries together have a total of approximately 170 million people, accounting for about 25% of ASEAN’s population. With both nations making up nearly a quarter of the region’s population, we must seize this opportunity," Mr. Pandey said.He also pointed out that Thai companies excel in the retail sector, while Vietnamese enterprises are strong in production across various areas. "Let’s join hands, complement each other and take it further. Thai companies would continue to expand. We will explode further cooperation in every aspect of the retail industry. Going forward, from wholesale to retail, and even to the high-end market.”In the retail sector, Mr. Pandey stated that MM Mega Market is a good example of a Thai investor in the Vietnamese market. With strong financial backing, advanced technology, and a high-quality workforce from BJC BIGC Group Thailand, MM Mega Market is steadily expanding its investment and operations in Vietnam. In November 2024, MM Mega Market broke ground on its first mega-complex in Vietnam, featuring shops, restaurants, cinemas, cafés, and more, located in Da Nang, with a total investment of nearly $20 million. This initiative aligns with BJC BIGC’s strategic goal of expanding its distribution network to 56 stores by 2028, focusing on hypermarkets and food service operations.Since the beginning of this year, BJC BIGC Vietnam’s manufacturing and trading operations, combined with the strength of MM Mega Market, have aligned under a shared vision and management partnership. This collaboration aims to drive the next phase of success by providing comprehensive solutions to suppliers and local manufacturers while delivering greater value to customers in the Vietnam market.Currently, Vietnam’s exports to Thailand remain relatively modest, amounting to only half of Thailand’s exports to Vietnam. To create more opportunities for Vietnamese products, particularly agricultural goods, to access the Thai market more effectively, Mr. Umesh Pandey emphasized that Vietnamese and Thai goods share many similarities. While some products are competitive, there are also numerous opportunities for complementary trade between the two countries.“In terms of agricultural products, we can explore certain items that both countries produce but are currently in short supply in Thailand. If there is a shortage in Thailand while Vietnam has an excess supply, we could consider importing those products from Vietnam.”However, Mr. Pandey cautioned that businesses should avoid exporting raw or fresh agricultural products without added value. "When exporting agricultural products, there should always be value addition. By doing so, you not only enhance the product itself but also create value for the farmers selling it, the factories processing it, and the workers they employ. This process generates jobs and improves people’s lives."We will explore ways for both sides to complement each other. Our goal is not just to sell Thai products to the world, but also to bring high-quality goods from other countries, including Vietnam, into our own market," Mr. Umesh Pandey emphasized.Bảo Ngọc

As part of the Thailand Trade Representative’s visit to Vietnam, Mr. Umesh Pandey met with the management board of MM Mega Market Vietnam (MM), a strategic retail brand belonging to BJC BIGC Group – a leading Thai investor in Vietnam.

Vietnam, Thailand see potential for stronger cooperation in retail sector

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/19/bo-truong-bo-noi-vu-du-kien-hoan-thanh-sap-nhap-tinh-truoc-308-1742351015-1-1742370603759426338854.jpg" alt="Viet Nam plans to complete restructuring of localities by late August- Ảnh 1."></figure>Provincial mergers will be completed by August 30 - Illustration photoMinister Pham made the announcement at the first session of the Government's Steering Committee on Science, Technology, Innovation, Digital Transformation, and Project 06 in Ha Noi on March 18.At present, Viet Nam is devided into 63 provinces and centrally-run cities with 705 districts and 10,595 communes/wards, according to the Constitution.Last week, Prime Minister Pham Minh Chinh said the number of provinces and centrally-run cities will reduce by about 50 percent while the number of grassroots-level administrative units will reduce by 60-70 percent.Local administrations will be reorganized into two levels (provincial and grassroots levels) instead of current three levels (provincial, district and communal levels) to create a two-tier local governance system to ensure streamlined, efficient and effective operations./.

Viet Nam plans to complete the merger of communes/wards by June 30, and localities by August 30, said Minister of Home Affairs Pham Thi Thanh Tra.

Viet Nam plans to complete restructuring of localities by late August

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/19/img9719-17423042092601590203110-1742351875478798392752.jpg" alt="Gov’t chief hosts American business delegation - Ảnh 1."></figure>Prime Minister Pham Minh Chinh (R) shakes hands with USABC President and CEO Ted Osius, Ha Noi, March 18, 2025 - Photo: VGP/Nhat BacPham hailed the visit of the delegation on the occasion of the 30th anniversary of diplomatic ties and the second year of their Comprehensive Strategic Partnership between Viet Nam and the U.S.Viet Nam always regards the U.S. as a partner of top significance, especially in economy, trade and investment, affirmed Pham.He suggested the delegation help Vietnamese companies to integrate into U.S. global supply chains, positioning Viet Nam as the key production and business hub of the U.S. in Southeast Asia.Pham urged delegation to advise the Vietnamese Government on refining policies and strengthening sustainable economic cooperation with the U.S.He also called on the U.S. to lift trade barriers on Vietnamese exports, recognize Viet Nam's market economy status soon, and remove Viet Nam from the U.S. Department of Commerce's list of restricted hi-tech exports.The Government also took the occasion to suggest that the two sides cooperate in sci-tech and innovation, including technology transfers and workforce training support, energy development, and infrastructure projects such as railways, aviation, and maritime systems.He called on the American companies to establish aircraft maintenance centers at Long Thanh and Gia Binh airports, set up partnerships in modern digital infrastructure, 5G commercialization and 6G research..<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/19/ted-1742304089698407849303-17423519321761106595382.jpg" alt="Gov’t chief hosts American business delegation - Ảnh 2."></figure>USABC President and CEO Ted Osius, Ha Noi, March 18, 2025 - Photo: VGP/Nhat BacIn reply, Ted Osius said that Viet Nam will be the fastest-growing economy in Southeast Asia."Notably, Viet Nam's reforms align with the priorities of the U.S. Administration, including promoting sustainable supply chains, opening the market for U.S. products, and creating a playing field for U.S. businesses," emphasized the USABC Chairman."We support investments between Viet Nam and the U.S., including investments in the gas sector, ensuring a stable and long-term supply of liquefied natural gas for Viet Nam, and efforts to improve the bilateral trade balance between the two countries," shared Mr. Ted Osius./.

Prime Minister Pham Minh Chinh on Tuesday hosted a reception for a delegation 64 major American corporations led by Ted Osius, President and CEO of the U.S.-ASEAN Business Council (USABC).

Gov’t chief hosts American business delegation

With a theme highlighting Vietnam as a destination for the era of science, technology, and financial cooperation, the event was jointly organised by the Vietnamese Embassy in Singapore and the Vietnamese Ministry of Finance. It bought together representatives of over 100 enterprises from both countries, spanning sectors such as high technology, telecommunications, banking and finance, energy, aviation, real estate and urban development, agricultural processing, healthcare, and human resources training.Speaking at the event, Minister of Finance Nguyen Van Thang highlighted Vietnam’s ambition to develop an international financial centre to enhance the country's financial system and its position within regional and global markets. He expressed Vietnam’s desire to be accompanied, supported and shared experiences by Singapore, given the latter’s status as an exemplary model of international financial development and innovation.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/14/09/in_article/a320250314091806.jpg?rt=20250314091807" alt="Party chief attends Vietnam - Singapore business roundtable"></figure></td></tr><tr><td>Party General Secretary To Lam speaks at the event. (Photo: VNA)</td></tr></tbody></table></figure>Participating Singaporean experts and business leaders shared the country's experiences in developing the financial market and building the international financial centre, and promoting innovation, high-tech industries, and investment, while making relevant recommendations for Vietnam.Speaking at the roundtable, General Secretary To Lam stressed that Vietnam-Singapore relations have become a model of dynamic and effective cooperation within the Association of Southeast Asian Nations (ASEAN), serving as a benchmark for advancing intra-bloc and regional collaboration mechanisms. While economic cooperation between the two nations has yielded encouraging results, the Vietnamese leader noted that it has yet to fully match their true potential.He stated that Vietnam and Singapore have freshly upgraded their ties to a Comprehensive Strategic Partnership, which not only signifies broad-based cooperation across multiple sectors but also requires a higher quality of collaboration. The Party chief also expressed Vietnam’s aspiration to integrate new technologies, digital advancements, clean energy, and green energy solutions into the local Vietnam-Singapore Industrial Parks (VSIP).The leader said the two countries must elevate economic connectivity through structured programmes and action plans, ensuring cooperation extends beyond their existing strengths to a more comprehensive approach. Singapore has advantages in financial sources, scientific technology, innovation centres, and logistics systems, while Vietnam offers a large, hardworking, and highly skilled workforce, a vast market, abundant land and natural resources, and rare earth reserves. By leveraging these complementary strengths, both countries can drive innovation, address challenges, and unlock major development opportunities, Lam stressed.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/14/09/in_article/a220250314091851.jpg?rt=20250314091852" alt="Party chief attends Vietnam - Singapore business roundtable"></figure></td></tr><tr><td>Party General Secretary To Lam (5th from left, second row) witnesses the exchange of MoUs between Vietnam and Singapore at the roundtable discussion on March 13. (Photo: VNA)</td></tr></tbody></table></figure>Furthermore, he said that this partnership goes beyond bilateral ties, serving as a catalyst for ASEAN connectivity, thereby contributing to regional peace and sustainable growth. Vietnam's goal is to become a high-income country by 2045, which means that from now on, decisive and relentless efforts are essential, Lam said, revealing that Vietnam has focused on refining its institutional framework, legal policies, and clear and transparent regulations, to create stability and favourable conditions for people and investors.More efforts have been exerted to overcome challenges for development, foster innovation, streamline the administrative apparatus, and put people and businesses at the centre, he said.For the first time, Vietnam has planed to build regional and international financial centres, so it must concentrate on promoting science and technology, innovation, and digital transformation, the Party leader stated.According to the General Secretary, Vietnam and Singapore already signed the Green - Digital Economic Partnership. Following the upgrade of the bilateral relations, the two sides are determined to expedite the implementation of this partnership. Many leading technology companies have offered advice, proposals, and recommendations, emphasising the importance of human resources training and the development of artificial intelligence, semiconductors, quantum technology, and data in Vietnam. These are also key areas of interest for Vietnam, which it has been actively researching to drive development.Vietnam has taken on board many suggestions for developing financial centres as well as for investment encouragement and enterprise development, and promoting indirect investment, he stressed, noting that the development of indirect investment funds benefits businesses and is essential for establishing the regional and international financial centres.Additionally, Vietnam is also interested in the cryptocurrency and digital currency market. The country's policy is to continue developing the private economic sector as a driving force for comprehensive development, encouraging innovation, dynamism, and efficiency, while fostering trust, collaboration, mutual understanding, and shared benefits, he stated.On this occasion, the Party chief and his entourage witnessed the exchange of cooperation documents between many agencies and businesses of the two nations across fields.

General Secretary of the Communist Party of Vietnam Central Committee To Lam, along with a high-ranking Vietnamese delegation, attended a Vietnam - Singapore business roundtable in the city-state on March 13.

Party chief attends Vietnam - Singapore business roundtable

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/13/14/san-xuat20250313144447.jpg?rt=20250313144449" alt="Credit growth is a major driving force of economic growth - photo: Duy Minh"></figure></td></tr><tr><td>If credit does not flow into production, it may lead to inflation risks</td></tr></tbody></table></figure>Credit management must support economic growth while ensuring inflation control and macroeconomic stability. This is something to be maintained by the State Bank of Vietnam (SBV) in 2025.Fueling the economyThe Government has, for the first time, issued a resolution on growth targets for various industries, sectors and localities to ensure the country’s overall economic growth reaches 8 percent or higher. The Government held meetings to discuss strategies for helping businesses access resources, including credit from the banking sector.The SBV’s latest data indicate that credit growth in early 2025 show positive signs compared to the same period last year, following the seasonal trend of the beginning of the year and the Lunar New Year period. Credit growth, in particular, and monetary policy, in general, are considered major driving forces of achieving an economic growth rate of over 8 percent in 2025.SBV Deputy Governor Dao Minh Tu said the State Bank aims for an annual credit growth rate of 16 percent in 2025, equivalent to about VND2.5 quadrillion being injected into the economy. If the Government reaches its 10-percent economic growth target, credit growth will be 20 percent, equal to around VND3-3.2 quadrillion injected into the economy.The SBV leader analyzed that most commercial banks have already maximized their safety ratio. When banks mobilize VND10, they can lend out VND9, with the remaining VND1 required for safety reserves. However, many banks are currently lending over VND10, meaning they have to use their charter capital and refinancing capital from the SBV to support lending activities. Specifically, while the total mobilized capital of the banking system currently stands at VND15.2 quadrillion, the amount being lent out to the market has reached VND 15.8 quadrillion.The total outstanding credit is nearly VND16 quadrillion, while the gross domestic product (GDP) is VND12 quadrillion. This means credit amounts to 130% of GDP. Given that economic growth this year is expected to exceed 8 percent, this ratio will rise even further. “This is a highly complex macroeconomic challenge, but the banking sector has no choice but to take it on,” Tu said.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/13/14/bank-320250313144639.jpg?rt=20250313144640" alt="Credit growth is a major driving force of economic growth - photo: Duy Minh"></figure></td></tr><tr><td>Credit growth is a major driving force of economic growth - photo: Duy Minh</td></tr></tbody></table></figure>Balancing objectivesExperts have noted that when the Government sets high growth targets, inflation risks inevitably follow. Anticipating this, alongside adjusting the GDP growth target to over 8 percent in 2025, the Government has proposed to the National Assembly an increase in the average inflation target to 4.5-5 percent, higher than the 4 percent rate in recent years.Meanwhile, the management of monetary policy in general and credit policy in particular must not only support growth but also help control inflation and stabilize the value of the Vietnamese dong. This task is crucial, requiring the SBV to closely monitor market developments.Dr., Economist Vo Tri Thanh pointed out that injecting money into the economy can stimulate growth. However, the key is to ensure that growth is both rapid and sustainable. Sustainable growth must be tied to macroeconomic stability and rely more on labor productivity and technological advancements.On the other hand, analysts warn that strong credit growth can easily lead to inflation. If a large amount of money is pumped into the economy, but does not flow into productive sectors, it could trigger inflation and create various economic and banking system challenges.“Past experience shows that asset bubbles can become difficult to control, leading to a rise in bad debts, which threatens the stability of Vietnam’s banking system. These are critical concerns when expanding credit,” cautioned Dr. Nguyen Tri Hieu, a finance and banking expert./.<figure class="table"><table><tbody><tr><td>Governor of the State Bank of Vietnam Nguyen Thi Hong stated that the SBV will closely monitor global and domestic economic developments and proactively implement appropriate solutions to help control inflation, maintain macroeconomic stability, stabilize the monetary market and banking operations, and ensure the safety of the banking system. She emphasized that this is a crucial task and a fundamental pillar for the sustainable growth of the economy.</td></tr></tbody></table></figure>Ngan Thuong

Credit management must support economic growth while ensuring inflation control and macroeconomic stability. This is something to be maintained by the State Bank of Vietnam (SBV) in 2025.

Credit management must ensure growth, inflation control

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/10/tai-xuong-5-17415743755801364630860.jpg" alt="HCMC’s first metro line officially inaugurated- Ảnh 1."></figure>The inauguration cereomony of Ho Chi Minh's metro line No.1, March 9, 2025Addressing&nbsp; the inauguration ceremony, Chairman of the Municipal People's Committee Nguyen Van Duoc said that the inauguration represents a significant leap forward for public transportation in the southern metropolis.It comes at a meaningful time, as the city and the entire nation are celebrating the 50th anniversary of the National Reunification Day.He expected that the metro line would meet the growing travel demands of local residents and lay an important foundation for the city to build the 510km metro network in a bid to serve for 10 million-people population.Japan’s Vice Minister of Foreign Affairs, Miyaji Takuma, said that metro line symbolizes the close cooperation in the railway sector between Viet Nam and Japan and presents great significance in further developing collaboration between the two countries.During the construction process, Japanese enterprises participated in building and providing locomotives, carriages, and signaling systems for the metro line. In the coming time, Japan will continue to support the operation and management of metro line No. 1 by sharing knowledge and experience and enhancing cooperation with Viet Nam to promote the development of Ho Chi Minh City's railway system.<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/10/tai-xuong-17415738591751746941019.jpg" alt="HCMC’s first metro line officially inaugurated- Ảnh 2."></figure>The metro is funded by Japanese ODA loan as a token of friendship and cooperation between Viet Nam and JapanMiyazaki Katsura, executive senior vice president of Japan International Cooperation Agency (JICA), said: "It has taken 17 years from the start of construction to reaching this significant milestone, which is supported by Japanese ODA and expertise."In just over two months, the metro line has served over 5 million passengers, with locals thrilled to escape traffic jams and enjoy a more comfortable travel experience, she added./.

Ho Chi Minh City officially inaugurated its first metro line (Ben Thanh - Suoi Tien) on March 9 after two months of commercial operation.

HCMC’s first metro line officially inaugurated

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/06/16/620250306161129.jpg?rt=20250306161130" alt="Petrol prices go down in latest adjustment"></figure></td></tr></tbody></table></figure>Accordingly, the price of E5 RON92 decreased by VND690 to VND19,960 per litre, while that of RON95-III, the commonly used petrol, dropped by VND710 to no more than VND20,400 per litre.The prices of diesel oil 0.05S and kerosene were capped at VND18,330 and VND18,570 per litre, down VND620 and VND760 per litre, respectively.Meanwhile, mazut oil 180CST 3.5S was sold at no more than VND17,150 per kilogramme, representing a decrease of VND460.In the latest price adjustment cycle, the two ministries decided not to make use of the petrol and oil price stabilisation fund.So far this year, petrol prices have undergone a total of 10 adjustments, including 5 rises and 5 declines of RON95-III petrol, and 6 rises and 4 declines of E5 RON 92 petrol.Also, oil prices have experienced 6 times up and 4 times down.Petrol and oil prices over the past week have fluctuated due to OPEC+'s decision to increase crude oil output in April, the US' impose of new tariffs on goods from Mexico, Canada, China and retaliation from these countries, resulting in a fall in oil prices, according to experts.

The prices of petrol and oil have been adjusted down by VND760 per litre at maximum following the latest joint adjustment by the Ministry of Finance and the Ministry of Industry and Trade as of 3 p.m. on March 6.

Petrol prices go down in latest adjustment

Actively pouring capital“In 2025, based on continuously improving the efficiency of management and operations across all activities, VietinBank will promote the sustainable expansion of its operations, focusing on customer groups in potential areas. The credit growth rate is expected to be maintained at 15-16% compared to 2024, while ensuring debt quality control and operational efficiency,” a representative from VietinBank affirmed.Meanwhile, Agribank’s General Director Pham Toan Vuong stated that Agribank will continue to fully provide credit products to customers, with a target of increasing outstanding loans by approximately 200 trillion VND in 2025, equivalent to a 13% growth rate.Similarly, in 2025, MB aims for a 26% credit growth, expecting to exceed VND 1 quadrillion in outstanding loans. According to MB’s General Director Pham Nhu Anh, the bank will allocate at least 50% of its credit growth limit to the retail and small and medium-sized enterprise (SME) segments, while the remaining portion will focus on large enterprises. MB also plans to expand its market share, shift towards retail banking, enhance digital transformation, strengthen risk management, quantify risks, and comprehensively implement ESG principles.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/032025/04/17/in_article/mo-rong-quy-mo-tin-dung-ho-tro-tang-truong20250304172846.png?rt=20250304172846" alt="Expanding credit scale to support economic growth"></figure></td></tr><tr><td>Credit growth in early 2025 has shown positive signs compared to the same period last year</td></tr></tbody></table></figure>Credit growth in early 2025 has shown more positive signs compared to the same period last year. According to the latest report from SBV, as of February 3, 2025, total outstanding credit in the system reached 15.65 quadrillion VND, an increase of 0.19% compared to 2024, which is a notable improvement over the same period in 2024 (when it declined by 0.6%).Separate mechanism needed2025 marks the second year that SBV has assigned credit growth targets to banks at the beginning of the year. According to SBV Standing Deputy Governor Dao Minh Tu, an average credit growth of more than 2% contributes to a 1% increase in GDP. In 2025, SBV aims for a credit growth rate of approximately 16% to support an 8% economic growth target. However, if GDP growth reaches 10%, credit growth must be between 18-20%, which means the banking sector would need to inject an additional 2.8 to 3.1 quadrillion VND into the economy.SBV Governor Nguyen Thi Hong emphasised that the entire banking sector is fully aware that 2025 is a year of acceleration and breakthrough. The key challenge is how to drive economic growth to 8% or higher while keeping inflation under control. The banking sector is committed to making the highest effort and taking full responsibility in implementing suitable policies. According to the governor, credit growth plays an essential role in ensuring economic acceleration and breakthroughs.The SBV has set a credit growth target of around 16% in 2025, with adjustments based on actual economic conditions. "SBV will closely monitor developments; if inflation remains low, we will consider increasing this target, and vice versa. Credit policies will also focus on key economic growth drivers, including consumer credit and loans for small and medium-sized enterprises," said SBV Governor Nguyen Thi Hong.However, boosting credit requires not only efforts from the banking sector but also coordination and support from various ministries and agencies. For instance, in the case of social housing credit, Governor Nguyen Thi Hong stressed the need for multiple funding sources, particularly from the state budget. "In recent times, the banking system has demonstrated great responsibility and humanitarian spirit by voluntarily reducing lending rates. However, the implementation has faced many challenges. To resolve these issues and promote social housing credit, SBV hopes that the Ministry of Construction will collaborate with local authorities to conduct a comprehensive assessment of housing demand — including ownership, rentals, and purchases — so that bank credit can be directed effectively," the governor added.Additionally, according to Agribank CEO Pham Toan Vuong, with the banking sector's credit growth target set at approximately 16% for 2025, SBV has assigned Agribank a credit growth quota of nearly 13%, equivalent to an increase of over 200 trillion VND. If annual outstanding loans increase by VND 200 trillion, Agribank would need to supplement its capital base by VND 15-17 trillion. Therefore, the CEO proposed that the NA and the Government consider a special mechanism for state-owned commercial banks, including allocating additional charter capital from Agribank’s annual retained earnings — at least 10 trillion VND per year — starting in 2025. This would enable Agribank to fulfil its assigned political tasks and contribute to achieving the projected double-digit GDP growth for the 2026-2030 period.Meanwhile, Nguyen Thi Phuong Thao, Founder and Permanent Vice Chairwoman of HDBank, suggested that the Government promote capital market development to reduce reliance on bank credit and support long-term growth. Additionally, she proposed timely and proactive support from the Government and SBV in the restructuring process of DongA Bank under the compulsory transfer plan. This would help accelerate its recovery, enhance credit supply, and improve banking services for businesses and individuals.<figure class="table"><table><tbody><tr><td>Boosting credit requires not only efforts from the banking sector but also coordination and support from various ministries and agencies. For instance, in the case of social housing credit, Governor Nguyen Thi Hong stressed the need for multiple funding sources, particularly from the state budget.</td></tr></tbody></table></figure>

According to data from the State Bank of Vietnam (SBV), the total credit scale of the economy reached over 15.6 quadrillion VND in 2024, an increase of more than 15% compared to the end of 2023. Commercial banks played a significant role in providing credit to the economy, accounting for approximately 92.6% of the total outstanding credit in the system.

Expanding credit scale to support economic growth

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/3/3/img8632-1740915169448918406733-17409794993171179532360.jpg" alt="Must-win battles for Viet Nam to make economic miracle- Ảnh 1."></figure>Chairman of the European Chamber of Commerce in Viet Nam (EuroCham) Bruno JaspaertThe Chairman made the suggestions during a recent dialogue of the European business community with Vietnamese Prime Minister Pham Minh Chinh held yesterday in Ha Noi.He said that Europe and Viet Nam have fostered strong ties since the establishment of diplomatic relations in 1990, and the progress Viet Nam has achieved since then is truly remarkable."Over the past eight years living in Hai Phong, I have witnessed first-hand how this once-quaint river port town has transformed into a key logistics and manufacturing hub for the north – just one example of Viet Nam's broader economic transformation," Bruno Jaspaert said.Four must-win battlesEuropean businesses are honored to contribute to this success, but there is potential to do even more, the Chairman said.In order to attract more European investors, we believe it is necessary to highlight some must win battles for the future ahead.&nbsp;Firstly, Bruno Jaspaert suggested the Government strengthen the legal framework – The foundation for sustainable growth.The Chairman recalled Typhoon Yagi, the strongest storm to hit Viet Nam in three decades last year. However, no houses in Hai Phong collapsed."The reason why they kept standing is because they were built on solid foundations. The same applies to this country of yours," he added.The foundations of any state and economy are its laws. All investors crave stability and transparency, especially regarding the laws governing and impacting their business.&nbsp;For that reason alone, it is crucial that Viet Nam establish a transparent and stable legal framework to become a top investment destination. If we get the foundations right, building a house becomes much easier.Secondly, Bruno Jaspaert proposed the Government reduce trade barriers.&nbsp;The EVFTA has already implemented tariff reductions for bilateral trade. However, domestic taxes and technical trade barriers should not be used to offset the benefits of these agreements.Thirdly, the Chairman also underlined the importance of elevating national branding. Greater investment is needed to promote Viet Nam not only as a premier tourist destination but also as a thriving hub for international business.&nbsp;Over the past years, Viet Nam has demonstrated remarkable economic growth, surpassing expert projections with GDP growth exceeding 7 percent last year.He was convinced that the Year of the Snake will bring further opportunities. "We must enhance visibility to attract more European companies," he said.Europe has a strong tradition of dynamic, family-owned SMEs, and we aim to establish a Viet Nam Connect program to encourage these businesses to choose Viet Nam as their next home.Fourth, the Chairman also took the occasion to enable Viet Nam to enhance foreign Investment appeal.Since 2011, EuroCham has published the quarterly Business Confidence Index (BCI) to assess business sentiment on Viet Nam's economic outlook.In our latest BCI report, three in every four European businesses (75 percent) recommended Viet Nam as an investment destination.Despite geopolitical situations, more than 70 percent of European businesses are expressing their confidence in Viet Nam and plan to expand their footprint investment and production here.However, to further enhance Viet Nam's attractiveness, we must streamline administrative procedures to remove persistent bottlenecks including regulatory burdens on businesses investing and operating in Viet Nam; standardizing company establishment and investment registration procedures nationwide to minimize provincial inconsistencies and simplifying the requirements for work permits to bring in more international experts./.

Viet Nam should elevate national branding, strengthen the legal framework, reduce trade barriers, and enhance foreign investment appeal in the path to create economic miracle in the future, said Chairman of the European Chamber of Commerce in Viet Nam (EuroCham) Bruno Jaspaert.

Must-win battles for Viet Nam to make economic miracle

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/022025/27/10/420250227100912.jpg?rt=20250227100913" alt="Prime Minister Pham Minh Chinh meets with Lynn Maxwell, Global Chief Commercial Officer at S&amp;P Global Ratings, in Hanoi on February 26 (Photo: VNA)"></figure></td></tr><tr><td>Prime Minister Pham Minh Chinh meets with Lynn Maxwell, Global Chief Commercial Officer at S&amp;P Global Ratings, in Hanoi on February 26 (Photo: VNA)</td></tr></tbody></table></figure>Hanoi – Prime Minister Pham Minh Chinh met with Lynn Maxwell, Global Chief Commercial Officer at S&amp;P Global Ratings, in Hanoi on February 26, seeking to attracting international investment for Vietnam’s ambitious infrastructure plans.Expressing appreciation for S&amp;P’s recent BB+ credit rating and stable outlook for Vietnam, PM Chinh reaffirmed the country’s commitment to improving its credit standing, and its hope for stronger and more effective cooperation with the agency.Despite COVID-19-related disruptions, Vietnam achieved over 7% growth in 2024 and aims for 8% in 2025, targeting double-digit growth in the following year, he said.To realise these goals, Vietnam is pushing for institutional reforms, facilitating the operations of private businesses, streamlining administrative procedures, and cutting compliance costs. The government also focuses on strategic infrastructure development in transportation, health care, education, and culture to lower logistics costs and boost global competitiveness.The PM emphasised the need for skilled human resources to support Vietnam’s digital economy, green economy, circular economy, and knowledge-based economy. He reaffirmed the nation’s commitment to sustainable development, balancing economic growth with social welfare and environmental protection.Calling for greater support from the US, Chinh highlighted the importance of the Vietnam-US Comprehensive Strategic Partnership, established in 2023. Vietnam is working to ensure balanced trade relations with the US, including plans for major aircraft purchases to strengthen its aviation sector, he said.The leader used the occasion to call on the US to recognise Vietnam as a market economy, facilitate its intensive and extensive integration, and lift export restrictions on some technology.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/022025/27/10/520250227101017.jpg?rt=20250227101017" alt="Prime Minister Pham Minh Chinh meets with Lynn Maxwell, Global Chief Commercial Officer at S&amp;P Global Ratings, in Hanoi on February 26 (Photo: VNA)"></figure></td></tr><tr><td>Prime Minister Pham Minh Chinh meets with Lynn Maxwell, Global Chief Commercial Officer at S&amp;P Global Ratings, in Hanoi on February 26 (Photo: VNA)</td></tr></tbody></table></figure>Maxwell noted that S&amp;P’s operations have significantly contributed to the development of Vietnam’s financial market, enhancing market confidence through credit ratings.She highlighted S&amp;P’s global expertise, with over 1,000 analysts operating in 108 countries. Maxwell reaffirmed S&amp;P’s commitment to supporting Vietnam’s development by connecting its market with international capital.PM Chinh outlined Vietnam’s extensive infrastructure plans, including airport expansion, aircraft purchase, and the North-South high-speed railway project. Vietnam needs about 100 billion USD for railway development and 40-50 billion USD for its urban rail system by 2035. The country has set the goals of building 3,000 km of expressways by 2025 and 5,000 km by 2030, while investing heavily in seaports, inland waterways, and logistics.He called on S&amp;P to provide guidance on mobilising capital through diverse formats and stressed Vietnam's efforts to refine the legal framework in order to attract more investments./.

Prime Minister Pham Minh Chinh noted Vietnam's hope for stronger and more effective cooperation with S&amp;P Global Ratings, while hosting its Global Chief Commercial Officer Lynn Maxwell.

Vietnam seeks more effective cooperation with US-based S&P Global Ratings: PM

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/344443456812359680/2025/2/25/phancong-174045089681642016219.gif" alt="Cabinet members assigned to help localities boost soci-economic development- Ảnh 1."></figure>The Cabinet members will oversee localities' implementation of growth scenarios set by the Government.They are tasked with addressing challenges within their authority or proposing solutions to higher authorities to resolve difficulties, boost production and business activities, create jobs and livelihoods for citizens, accelerate public investment disbursement, facilitate import-export, develop infrastructure, promote social housing projects, support initiatives to eliminate temporary and dilapidated housing, and carry out national target programs.According to the assignment, Prime Minister Pham Minh Chinh works with Ha Noi, Ho Chi Minh City, and Can Tho City.Permanent Deputy Prime Minister Nguyen Hoa Binh works with Hai Phong City and Quang Ninh Province.Deputy Prime Minister Tran Hong Ha works with Ba Ria-Vung Tau and Long An provinces.Deputy Prime Minister Le Thanh Long works with Kien Giang and Hau Giang provinces.Deputy Prime Minister Ho Duc Phoc works with Binh Dinh, Phu Yen, and Khanh Hoa provinces.Deputy Prime Minister Bui Thanh Son works with Kon Tum and Gia Lai provinces.Deputy Prime Minister Nguyen Chi Dung works with Lao Cai, Phu Tho and Hoa Binh provinces.Deputy Prime Minister Mai Van Chinh works with Dong Thap, Ca Mau and An Giang provinces.Minister of National Defense Phan Van Giang works with Thai Nguyen and Ha Tinh provinces.Minister of Public Security Luong Tam Quang works with Da Nang City and Hung Yen Province.Minister-Chairman of the Government Office Tran Van Son works with three localities, namely Thai Binh, Ninh Binh, and Nam Dinh.Governor of the State Bank of Viet Nam Nguyen Thi Hong works with Ben Tre and Vinh Long provinces.Minister of Finance Nguyen Van Thang works with Ninh Thuan and Binh Thuan provinces.Minister of Industry and Trade Nguyen Hong Dien works with three provinces, namely Vinh Phuc, Bac Giang, and Son La.Minister of Construction Tran Hong Minh works with three provinces of Dong Nai, Binh Duong and Tien Giang.Minister of Agriculture and Environment Do Duc Duy works with three provinces, namely Hai Duong, Lai Chau and Dien Bien.Minister of Science and Technology Nguyen Manh Hung works with Quang Binh and Quang Tri provinces and Hue City.Minister of Ethnic Minorities and Religions Dao Ngoc Dung works with the three provinces of Ha Nam, Thanh Hoa, and Nghe An.Minister of Culture, Sports and Tourism Nguyen Van Hung works with Dak Lak, Dak Nong and Lam Dong provinces.Minister of Education and Training Nguyen Kim Son works with three localities, namely Tra Vinh, Soc Trang and Bac Lieu.Minister of Health Dao Hong Lan works with Bac Ninh, Lang Son and Cao Bang provinces.Minister of Home Affairs Pham Thi Thanh Tra works with Quang Nam and Quang Ngai provinces.Government Inspector Doan Hong Phong works with three provinces of Tuyen Quang, Ha Giang and Bac Kan.Minister of Justice Nguyen Hai Ninh works with Binh Phuoc and Tay Ninh provinces./.

Prime Minister Pham Minh Chinh has signed Decision assigning Government members to work with localities to boost production, business activities, construction investment, and import-export within their respective areas.

Cabinet members assigned to help localities boost soci-economic development

Thai top diplomat made the visit after talks with Deputy Prime Minister, Foreign Minister Bui Thanh Son earlier the same day. He will also attend the 2nd ASEAN Future Forum (AFF) held in Ha Noi on February 25-26The Imperial Citadel of Thang Long, a UNESCO World Heritage site in Ha Noi gained an additional area of 13,800sq.m, given to it by the Ministry of National Defence.The area, located at 28A Dien Bien Phu street in the district of Ba Dinh has, since 1966, been home to the Viet Nam Army Museum, later renamed the Viet Nam Military History Museum. The museum covers an area of over 13,000sq.m, including exhibition buildings, functional areas, and notably, the Ha Noi Flag Tower.The Imperial Citadel of Thang Long is a complex of historic imperial buildings that was first constructed in 1011 under the reign of King Ly Thai To of the Ly Dynasty (1009-1225).<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/2/25/hoang-thanh-1-1740447968418614862707.png" alt="Photos: Thai FM visits Ha Noi's imperial citadel- Ảnh 1."></figure>Viet Nam's Deputy Prime Minister and Foreign Minister Bui Thanh Son and Thailand's Foreign Minister Maris Sangiampongsa visit UNESCO-recognized Thang Long Imperial Citadel on February 24. Photo: Baoquocte<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/2/25/hoang-thanh-2-17404479931961377022116.jpg" alt="Photos: Thai FM visits Ha Noi's imperial citadel- Ảnh 2."></figure>Deputy Prime Minister, Foreign Minister Bui Thanh Son and the Thai top diplomat arrive at the Thang Long Imperial Citadel . Photo: VGP<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/2/25/hoang-thanh-7-17404480237921084671965.jpg" alt="Photos: Thai FM visits Ha Noi's imperial citadel- Ảnh 3."></figure>The imperial citadel has archaeological significance. Photo: VGP<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/2/25/hoang-thanh-9-17404480525392022154444.jpg" alt="Photos: Thai FM visits Ha Noi's imperial citadel- Ảnh 4."></figure>Deputy Prime Minister, Foreign Minister Bui Thanh Son and Thailand’s Foreign Minister Maris Sangiampongsa and their spouses enjoy Vietnamese coffee. Photo: VGP<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/2/25/hoang-thanh-10-1740448077637865551313.jpg" alt="Photos: Thai FM visits Ha Noi's imperial citadel- Ảnh 5."></figure>Deputy Prime Minister, Foreign Minister Bui Thanh Son and Foreign Minister Maris Sangiampongsa enjoy Vietnamese coffee.<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/2/25/hoang-thanh-11-1740448095733992274678.png" alt="Photos: Thai FM visits Ha Noi's imperial citadel- Ảnh 6."></figure>Foreign Minister Maris Sangiampongsa offers a gift to Deputy Prime Minister Bui Thanh Son. Photo: VGP

Vietnamese Deputy Prime Minister, Foreign Minister Bui Thanh Son and Thailand’s Foreign Minister Maris Sangiampongsa visited UNESCO’s World Heritage Site – Thang Long Imperial Citadel and enjoyed Vietnamese coffee in Ha Noi on February 24.

Photos: Thai FM visits Ha Noi's imperial citadel

<figure class="image"><img src="https://api.iotcommunication.com.vn/images/image_20250221015700.png"></figure>US$ billionGDP of ASEAN-6 countries in 2023 and 202420242023IndonesiaSingaporeThailandViet NamPhilippinesMalaysia050010001500According to latest statistics collected by Mekong ASEAN, Viet Nam has made breakthrough in 2024, with its GDP estimated at US$476.3 billion.Last year, Viet Nam took the lead among the ASEAN-6 in term of GDP growth rate, with 7.09 percent.The country ranked fifth in the ASEAN-6 in terms of GDP per capita, with US$4,711.<figure class="image"><img src="https://api.iotcommunication.com.vn/images/image_20250221015719.png"></figure>%GDP growth of ASEAN-6 countries in 2024Viet NamPhilippinesMalaysiaIndonesiaSingaporeThailand02468The 15th National Assembly on February 19 passed a resolution in which the legislative body agreed with the Government's proposal to raise 2025 GDP growth target to 8 percent.The country's GDP scale this year is expected to exceed US$500 billion and the GDP per capita is projected to surpass US$5,000.Based on projections by the International Monetary Fund (IMF), Seasia Stats forecasted that Viet Nam's GDP will reach US$506 billion this year, ranking 33rd globally.Seasia Stats highlights Viet Nam's impressive economic growth, adding that Viet Nam's economy is rapidly expanding, thanks to its manufacturing boom and foreign investments.Meanwhile, the UK-based Centre for Economics and Business Research noted that with an average annual growth rate of 5.8 percent over the next five years, Viet Nam's GDP is expected to surpass Singapore's, reaching US$676 billion by 2029.By 2039, Viet Nam's GDP could rise to US$1.41 trillion, ranking 25th worldwide.<figure class="image"><img src="https://api.iotcommunication.com.vn/images/image_20250221015735.png"></figure>US$ billionGDP per capita of ASEAN-6 countries20242014SingaporeMalaysiaThailandIndonesiaViet NamPhilippines025k50k75k100kAccording to a new report released by Oxford Economics, the world's foremost independent economic advisory firm, Viet Nam's economy will be the standout among the ASEAN-6, growing at a faster pace relative to its peers during the next few years.The report noted that the nation's GDP growth will reach 6.5 percent in 2025, driven by a strong manufacturing sector and a rapid recovery in domestic demand. In which, manufacturing fundamentals remain strong and supported by structural tailwinds.A key source of growth for Viet Nam next year will be its manufacturing exports. Viet Nam is a known assembly, packaging, and testing (APT) hub, the next stage of the chip-making process post fabrication. Intel's largest APT facility is in Viet Nam, and Amkor Technology's US$1.6 billion chip plant in Bac Ninh province is set to come on line in 2025.Other large exporting sectors are machinery and electrical appliances, textiles, and agriculture. A boost should come from the front-loading of export orders next year in anticipation of tariffs, which may be sufficient to offset soft electronics demand in the near term.According to Oxford Economics, growth in FDI inflows will continue to be maintained, although at a slower pace. It expects investment growth in 2025 to reach 7.2 percent, higher than the 6.9 percent forecast for this year./.

Viet Nam surpassed the Philippines to rank fourth among ASEAN Member States in terms of economic size in 2024.

Vietnamese economy ranks fourth in ASEAN

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/022025/20/17/anh20250220172416.jpg?rt=20250220172418" alt="Egg products from Vietnam may soon be officially imported into Singapore - photo: https://baochinhphu.vn"></figure></td></tr><tr><td>Egg products from Vietnam may soon be officially imported into Singapore - photo: https://baochinhphu.vn</td></tr></tbody></table></figure>According to Singaporean Ambassador to Vietnam Jaya Ratnam, Singapore will adopt a phased approach to officially import eggs and poultry meat from Vietnam.The Singapore Food Agency (SFA) is actively working to recognize poultry and egg products from Vietnam for export to Singapore, said Singaporean Ambassador Jaya Ratnam.According to the Ambassador, Singapore will adopt a phased approach to achieve this recognition. The process will begin with an initial assessment of farms and facilities to establish mutual understanding and trust, before gradually expanding to include more suppliers and product categories."Under this approach, heat-processed products will be approved in the first phase, followed by egg products in the second phase and finally frozen poultry products in the third phase," said Ambassador Ratnam.The Ambassador noted steady progress in food safety cooperation between the two nations. In 2024, in collaboration with Vietnam’s Ministry of Agriculture and Rural Development, the SFA conducted two assessment visits to the provinces of Binh Phuoc, Tay Ninh, and Ha Nam.During these visits, the SFA found that heat-processed poultry products from C.P. Group in Binh Phuoc had met the necessary criteria for export, with the final stages of approval currently underway. Additionally, the SFA is in discussions with Masan Corporation in Ha Nam to facilitate egg imports during the second phase, and is exploring potential partnerships with other Vietnamese farms and manufacturers.Additionally, the Ambassador emphasized Singaporean companies' interest in exporting food products to Vietnam. Mr. Ratnam also expressed satisfaction with the two countries’ progress in overcoming technical trade barriers, and hoped that both nations will continue working towards mutual certification of food products.Recognizing the importance of strengthening bilateral trade, the ambassador voiced support for establishing an agricultural trade task force to ensure long-term, sustainable cooperation. Singapore has designated the SFA as its lead agency and is awaiting Vietnam’s Ministry of Agriculture and Rural Development to appoint its counterpart.The Ambassador said that the formation of the agricultural trade task force would be the first step toward unifying the two countries' food safety standards. Mr. Ratnam hoped that both nations would create favorable conditions for each other's food safety certification process./.

According to Singaporean Ambassador to Vietnam Jaya Ratnam, Singapore will adopt a phased approach to officially import eggs and poultry meat from Vietnam.

Vietnamese eggs and poultry products to enter Singaporean market: Ambassador

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/022025/17/16/digital-technology20250217162723.jpg?rt=20250217162724" alt="Illustrative image (Photo: VNA)"></figure></td></tr><tr><td>Illustrative image (Photo: VNA)</td></tr></tbody></table></figure>Vietnam is placing great importance on developing the digital technology industry, given its significant contributions to the country’s economy.Speaking at the 6th annual national forum on the development of Vietnamese digital technology enterprises last month, Party General Secretary To Lam stated that the total revenue from this industry in 2024 was estimated to reach 152 billion USD, an increase of 35.7% compared to 2019.The digital technology startup ecosystem in Vietnam has also grown significantly, with nearly 74,000 enterprises. This ecosystem encompasses a wide range of products and services, from hardware and electronics to software and advanced technologies like artificial intelligence (AI), big data, and the Internet of Things (IoT).The sector's workforce has reached over 1.67 million employees, a growth of more than 50% compared to 2019. By the end of 2023, nearly 1,900 digital technology enterprises had expanded into international markets, generating revenue of 11.5 billion USD, up 53% year-on-year.This progress has significantly contributed to the improvement of Vietnam's global innovation index each year. According to Minister of Science and Technology Huynh Thanh Dat, in 2024, Vietnam ranked 44th out of 133 countries in the Global Innovation Index, two places higher than that in 2023 and up 32 spots compared to 2013. Among these, Vietnam led the world in three key indicators: high-tech imports, high-tech exports, and creative goods exports.These figures demonstrate that the digital technology industry has become one of the most important economic sectors, helping Vietnam enhance its competitiveness, expand international cooperation opportunities, and contribute actively to building a comprehensive digital economy. It also plays a significant role in driving economic growth and sustainable development.However, alongside these successes, Vietnam still faces significant weaknesses. The Party chief pointed out that the technological level of Vietnamese businesses is generally low, with the country participating only modestly in global supply chains.Although the electronics sector has seen impressive growth, propelling Vietnam to 2nd place in the world for smartphone exports, 5th for computer component exports, 6th for computer equipment exports, and 8th for electronic component exports, 89% of the value of these components is from imported goods.For example, Samsung has invested in Vietnam since 2008, yet of the 60 Tier-1 suppliers for the Republic of Korea’s group in Thai Nguyen province, 55 are foreign companies. In Bac Ninh, the figures are 164 foreign companies out of 176. Domestic enterprises are primarily engaged in providing services such as security, catering, and waste management.The research and development capabilities of Vietnamese enterprises are still heavily reliant on foreign sources, limiting the country’s technological self-reliance. Additionally, the ability to attract high-tech talent remains insufficient, resulting in a shortage of qualified human resources, which directly impacts the capacity for innovation.The development of digital technology and digital infrastructure is not evenly distributed across regions, creating a significant gap in access to technology. This disparity affects the ability to connect the nation as a whole and hinders the sustainable growth of the digital technology industry.According to Dr. Tran Thi Tuan Anh, Vice Rector of the College of Economics, Law and Government under the University of Economics Ho Chi Minh City, to achieve sustainable economic development with the reliable support of new technologies, including AI, Vietnam must prioritise human services, ethics, and responsibility.Do Cao Bao, a member of the Board of Directors of FPT Corporation, said that the speech by Party General Secretary To Lam at the 6th national forum on the development of Vietnamese digital technology enterprises highlighted the core of the issue. For the country to develop further and escape the middle-income trap, it must improve labour productivity by effectively tapping into the intellectual potential of the Vietnamese people, and focus on research and development in science and technology, with digital economy as the main driving force for the nation's development.Minister Dat stated that the Ministry of Science and Technology is urgently coordinating with relevant agencies to build, and perfect the legal framework, with a strong determination to remove obstacles to promote the development of science and technology and innovation./.

Speaking at the 6th annual national forum on the development of Vietnamese digital technology enterprises last month, Party General Secretary To Lam stated that the total revenue from this industry in 2024 was estimated to reach 152 billion USD, an increase of 35.7% compared to 2019.

Vietnam works to develop digital technology industry

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/022025/13/22/220250213221944.jpg?rt=20250213221945" alt="The Vietnam Posts and Telecommunications Group (VNPT) opens its the eighth internet data centre (IDC) at Hoa Lac Hi-tech Park in 2023. (Photo: VNA)"></figure></td></tr><tr><td>The Vietnam Posts and Telecommunications Group (VNPT) opens its the eighth internet data centre (IDC) at Hoa Lac Hi-tech Park in 2023. (Photo: VNA)</td></tr></tbody></table></figure>Hanoi – The surge in AI demand is significantly impacting plans on data centre investment and expansion in Vietnam as global tech giants and local players are racing to capture the market.In the past year, tech behemonths like Microsoft, Meta, Alphabet and Amazon injected more than 200 billion USD into data centres and AI-related tool development, with a substantial portion flowing into Asia, where land is affordable, electricity is cheap, and demand for AI is soaring.However, most Asian data centres have not been equipped to host AI servers, presenting a significant opportunity for upgrading existing facilities and building new AI-capable data centres with better capacity across Asia.In Vietnam, local tech companies, including VNPT, Viettel, CMC, FPT and VNG, are expanding their data centres' capacity. CMC is planning to invest 500 million USD in such centres and other facilities in Vietnam, Japan, and elsewhere by 2028. Meanwhile, Viettel is preparing to carry out 11 large-scale data centres with a total designed capacity of over 350 MW, or 40% of the country’s total. It will partner with NVIDIA to develop AI data centre infrastructure featuring nearly 800 supercomputers and 6,000 GPU cards.CEO of the Viettel Internet Data Centre (IDC) Hoang Van Ngoc estimated that to serve the market of 100 million people in Vietnam with sufficient future technological services like AI, generative AI, and AI cloud computing, the size of domestic data centres must increase 15-fold.International giants including Amazon, Microsoft, Supermicro, ST Telemedia Global Data Centers, Google, and Alibaba are also entering the Vietnamese market, with planned investments worth billions of USD, intensifying the competition in the sector.According to Cushman &amp; Wakefield's latest report, Vietnam offers competitive advantages for data centre investments, with construction costs averaging 6.9 million USD per MW – among the lowest in the Asia-Pacific region, only trailing Taiwan (China). This is significantly lower than China (7.1 million USD), Thailand (7.6 million USD), Indonesia (8.7 million USD), and Malaysia (9 million USD).Cushman &amp; Wakefield Vietnam General Director Trang Bui stated that boasting reasonable construction costs and a favourable geographical location, Vietnam holds huge potential to become a large data centre in the region, referencing the interest from Apple, Intel, Canon, Samsung, LG, LEGO and Airbus as a vivid demonstration. Besides, the country's increasing transparency, openness to foreign investment, and administrative reforms are creating more opportunities for international investors and driving the growth of the data centre industry in Vietnam.However, power remains a big challenge for the development of AI data centres. Associate Director of Industrial Services at Savills Hanoi Thomas Rooney said the facilities require 2 – 5 times more power than conventional ones. Vietnam should sketch out plans to upgrade and expand the power grid while developing renewable energy solutions to ensure stable electricity supply for the operation of large-scale data centres.Meanwhile, Trang Bui said that along with stable and strong power supply, legal regulations and complicated administrative procedures remain a big hurdle to the building of AI data centres while skilled workforce in the domain is limited.Vietnam is poised to welcome a wave of AI-integrated data centre construction, primarily driven by foreign giants. To fully capitalise on this opportunity, the country must rapidly improve its power supply capabilities, land availability, human resources, and regulatory framework, she suggested./.

Vietnamese tech companies are expanding their data centres' capacity while international giants are also entering the market, with planned investments worth billions of USD.

Vietnam riding wave of data centre investments

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2025/2/12/btkt-uae-17393235455561158398830-1739328215703524131769.jpg" alt="VN, UAE urged to early ratify CEPA in Q1, 2025- Ảnh 1."></figure>Deputy Prime Minister Bui Thanh Son (L) and Minister of Economy of the United Arab Emirates (UAE) Abdulla Bin Touq Al Marri (R), Dubai, February 11, 2025 - Photo: VGP/Hai MinhBui made the suggestion while meeting with Minister of Economy of the United Arab Emirates (UAE) Abdulla Bin Touq Al Marri on February 11 (local time) on the sidelines of the World Government Summit (WGS) in Dubai.He treasured Minister Abdulla Bin Touq Al Marri for his contributions to the bilateral ties especially the signing of the CEPA last October.The Deputy Prime Minister called upon the two sides early ratify the document in Q1, 2025, put it into operation soon and positively disseminate the opportunities and benefits of CEPA for their business communities.On this occasion, Pham also briefed his host about the economic achievements and investment environment in Viet Nam.The Deputy Prime Minister also suggested the UAE's Ministry of Economy facilitate the implementation of the commitments between Viet Nam and UAE on the occasion of Prime Minister Pham Minh Chinh's official visit to UAE last October especially in terms of trade and investment. He also hoped to seek UAE's experience in development and national governance.With experiences in building the world's leading international financial centers and free trade zones, Deputy Prime Minister Bui proposed that UAE support Viet Nam to build institutions and policies to attract investment in the process of building and operating international financial centers in Ho Chi Minh city, Da Nang city and free trade zones in Ba Ria-Vung Tau province as well as Hai Phong city.In reply, Minister Abdulla Bin Touq Al Marri revealed that the ministry will organize a large-scale investment conference in Viet Nam in a bid to spur economic cooperation and investment opportunities from UAE and the world to Viet Nam.The host leader also highly spoke of Viet Nam's endeavor to perfect regulations, laws, and business environment and raise national competitiveness."A large number of UAE enterprises are interested in Viet Nam and stand ready to cooperate with Vietnamese partners especially in such areas as high tech, AI, energy, infrastructure and seaports," Abdulla Bin Touq Al Marri said.Finally, the two sides agreed to early organize the 6th Meeting of the Viet Nam - UAE Intergovernmental Committee and the 1st meeting of the Joint Working Group on Economic and Trade Cooperation in 2025./.

Deputy Prime Minister Bui Thanh Son called upon both Viet Nam and UAE to double effort to finalize and ratify the Comprehensive Economic Partnership Agreement (CEPA) in Q1, 2025.

VN, UAE urged to early ratify CEPA in Q1, 2025

At IOT, we dive in, think big, and work together to bring give you the best solution to your brand. As a team, we’re unstoppable. As individuals, we are inventive, passionate, and committed. As IOT, we thrive in our approach and attitude towards innovation and demand for creative distinction that offers our clients unique below the line results. Our clients keep winning because our people keep raising the bar–day in and day out. We have the right blend of creative courage, strategic thinking, and a relentless commitment to tangibly strengthening our clients’ brands at every interaction.In the fast-paced, high-tech world of nowadays marketing and communications, it is essential to be relevant to changing communication needs and to consistently deliver progressive thinking that can become central to the brand DNA.It is the IOT vision to be Vietnam’s leading marketing and communications agency, establishing a reputation for innovative communication solutions that alter people’s perceptions, transforms behavior and builds lasting relationships with brands.As an aggressive and agile firm, here at IOT, we believe in the fundamentals of communication strategies and have developed a reputation for effective, on-target marketing.Working with many great clients, IOT is known for building and positioning brands along with maximizing the exposure and results for their clients. <a href="https://api.iotcommunication.com.vn/document/IOT%20DA%20FIX_20250310040031.pdf">Corporate capability statement</a>

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<figure class="image"><img src="https://api.iotcommunication.com.vn/images/Screenshot_2(1)_20240905022238.png"></figure>It all starts with communication and we create your message with impact. How a brand interacts and connects with its audience — whether through its website, email and print communications, social media or at an event — directly impacts the brand’s strengths. A powerful, consistent communication and content strategy is paramount to a successful brand strategy, ensuring audiences not only receive important messaging but connect with and act on it. IOT’s communications specialists with years of expertise in marketing, writing and brand strategy will help you with it.

It all starts with communication and we create your message with impact. How a brand interacts and connects with its audience — whether through its website, email and print communications, social media or at an event — directly impacts the brand’s strengths. A powerful, consistent communication and content strategy is paramount to a successful brand strategy, ensuring audiences not only receive important messaging but connect with and act on it. IOT’s communications specialists with years of expertise in marketing, writing and brand strategy will help you with it.

Communication strategy

&nbsp;<a href="">1.&nbsp;Communication strategy&nbsp;</a><figure class="image"><img src="https://api.iotcommunication.com.vn/images/Screenshot_2(1)_20240905021602.png"></figure><a href="">2.&nbsp;Digital marketing</a><figure class="image"><img src="https://api.iotcommunication.com.vn/images/xdigital-marketing_png_pagespeed_ic_-AETQMr2ES_20240905021646.png"></figure>3. Event Production<figure class="image"><img src="https://api.iotcommunication.com.vn/images/Event-PNG-Photo_20240905021901.png"></figure>4. Creative services<figure class="image"><img src="https://api.iotcommunication.com.vn/images/1934823-1000x1000_20240905022033.jpg"></figure>

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<figure class="image"><img src="https://api.iotcommunication.com.vn/images/xdigital-marketing_png_pagespeed_ic_-AETQMr2ES_20240905022314.png"></figure>Digital integration activations maximize the effect of brand experiences and are an integral part of our approach. IOT recognizes the impact that digital, social, interactive and mobile executions have on brand experiences — and how important it is to integrate them from a program’s inception. By embracing strategic, multi-functional digital integrations, brands can generate more data about your target audience — with greater precision — than ever before. Consumer engagement with social media, onsite digital activations, mobile platforms and more offers data to better target and win over customers you might not reach otherwise.

Digital integration activations maximize the effect of brand experiences and are an integral part of our approach. IOT recognizes the impact that digital, social, interactive and mobile executions have on brand experiences — and how important it is to integrate them from a program’s inception. By embracing strategic, multi-functional digital integrations, brands can generate more data about your target audience — with greater precision — than ever before. Consumer engagement with social media, onsite digital activations, mobile platforms and more offers data to better target and win over customers you might not reach otherwise.

Digital marketing

<figure class="image"><img src="https://api.iotcommunication.com.vn/images/Event-PNG-Photo_20240905022349.png"></figure>Brand experiences come to life during event production. Every carefully planned detail — from the creative activations to the run of show to the food and beverage — is put into effect. A live event is an organic production with many moving parts and requires a focused, organized effort to execute. With the right production team in the right roles, events are accomplished without a hitch.At IOT, we realize big ideas. We translate strategic plans into compelling events. And we understand all the work and coordination that goes into making them a success. As event production experts with decades of combined experience, we do more than execute. We think deeply, we plan down to the last detail, and then we put ourselves in the thick of the action and produce.

Brand experiences come to life during event production. Every carefully planned detail — from the creative activations to the run of show to the food and beverage — is put into effect. A live event is an organic production with many moving parts and requires a focused, organized effort to execute. With the right production team in the right roles, events are accomplished without a hitch.At IOT, we realize big ideas. We translate strategic plans into compelling events. And we understand all the work and coordination that goes into making them a success. As event production experts with decades of combined experience, we do more than execute. We think deeply, we plan down to the last detail, and then we put ourselves in the thick of the action and produce.

Event Production

News

<figure class="image"><img src="https://api.iotcommunication.com.vn/images/1934823-1000x1000_20240905022416.jpg"></figure>Well-crafted and creative is essential to a campaign’s success. But you want to dazzle along the way, too. Our Creative leads engage in the earliest stages of strategic discussions, and love nothing more than creating beautiful, multisensory work that demands attention and engagement for your brand. And our design chops are complemented by experienced project managers, whose job it is to keep your creative projects on track.

Well-crafted and creative is essential to a campaign’s success. But you want to dazzle along the way, too. Our Creative leads engage in the earliest stages of strategic discussions, and love nothing more than creating beautiful, multisensory work that demands attention and engagement for your brand. And our design chops are complemented by experienced project managers, whose job it is to keep your creative projects on track.