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May 2, 2025 news
Energy: Vietnam cuts LNG import tariff to 2 percent to spur transition and investment
Vietnam has lowered its preferential LNG import tariff from 5 percent to 2 percent under Decree No. 73/2025/ND-CP. The reduction boosts cost competitiveness of LNG-fuelled power and incentivises investment across the LNG value chain, from importers to generators, the Vietnam News Agency has reported.
Steel: Hoa Phat says U.S. tariffs unlikely to impact Vietnam exports directly
US Section 232 tariffs already apply to Vietnamese steel and will not be expanded, Hoa Phat CEO Nguyen Viet Thang has told Financial Street as reported by The Investor.
Semiconductors: Vietnam begins construction of first fully locally led chip factory
CT Semiconductor has broken ground on Vietnam’s first chip plant developed entirely with Vietnamese technology. The factory aims to produce 100 million chips annually by 2027, with operations starting in Q4 2025, VietnamNet has reported.
Healthcare: Vietnam’s health and social assistance sector records US$92 million in March FDI
The health and social assistance sector saw US$92 million in foreign direct investment in March. No new projects were reported during the month, according to the latest data from the Ministry of Industry and Trade.
Technology: Vietnam’s science and technology sector sees over US$235 million in March FDI commitments
The professional, scientific and technological activities sector attracted US$235.95 million in foreign direct investment in March, according to the latest data from the Ministry of Industry and Trade. This included 46 new projects worth just US$12 million, indicating modest initial capital commitments.
Vietnam News Roundup: April 25 to May 1
This week’s Vietnam news roundup covers Vietnam’s response to the proposed 46 percent US tariff, VinFast’s latest earnings, World Bank forecasts, SBV market activity, and more.
Tourism and hospitality: Vietnam tourist arrivals from Europe up 19 percent in March
Vietnam received 285,526 European visitors in March, up 19.1 percent from February, according to data from Vietnam’s General Department of Tourism. Year-to-date arrivals reached 791,872, a 19.6 percent increase compared to the first quarter of 2024, marking a significant boost to Vietnam’s tourism industry.