This is a brief rundown of what is being reported today in Vietnam’s state-approved media and some others.
It compiles coverage from official outlets like Dan Tri, Tuoi Tre, and VN Express, highlighting the narratives currently shaping the country’s economic, financial, and business news landscape.
See yesterday’s news headlines →
Last updated 7.30pm
Exchange rate
the-shiv is reporting that the State Bank of Vietnam (SBV) set its central exchange rate at VND 25,093 per US dollar, Friday, up by 2 dong or 0.01 percent from the previous day → source.
The black market mid-market rate, however, rose to VND 27,825 per US dollar, up 45 dong or 0.16 percent.
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VN-Index performance
the-shiv is reporting that The VN-Index fell 1.79 percent to close at 1,639.65 on 31 October 2025, with total trading value at VND 27.67 trillion or about US$1.05 billion.
Meanwhile, foreign traders net-sold US$17.5 million worth of stocks, according to the latest data from the Ho Chi Minh City Stock Exchange → source
HCMC disbursements falls short
Vietnamnet is reporting that Ho Chi Minh City must disburse nearly VND 57.7 trillion or US$2.19 billion in public investment before year-end, with only 40.7 percent of city-allocated and 52.1 percent of central capital spent so far → source.
The Statistics Office reported October industrial output up 17.5 percent and retail sales rising 15 percent to VND 1.57 million billion or US$59.6 billion.
Officials cited delays in land clearance and approvals affecting major projects like Metro Line 2.
The Statistics Office urged decentralisation, faster appraisal, stronger accountability for project heads, and weekly monitoring to accelerate disbursement and create pressure for faster project execution.
Ed.’s notes: Fits with discussions around public investment as a growth driver.
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Vietjet signs airbus contract
Vietnamnet is reporting that on 30 October 2025, Vietjet signed a contract at the UK Foreign Office to purchase 100 Airbus A321neo aircraft from Airbus Commercial → source.
Ed.’s notes: Vietnam’s president was in the US in September and oversaw the handover of the first of a reported 200 Boeing jets to Vietjet.
Using two different aircraft means maintaining two sets of spare parts, engineers/mechanics, and pilots and air stewards.
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Lawsuit win boosts real estate revenue
VnExpress is reporting that Thuduc House recorded its strongest quarterly profit in four years after winning an administrative tax lawsuit against the Ho Chi Minh City Tax Department → source.
The dispute arose after authorities imposed coercive tax enforcement measures, including suspending invoice use, halting customs clearance, and freezing bank accounts.
The court ruled in favour of Thuduc House, prompting the tax office to lift restrictions.
According to CEO Tran Thi Lien, the company recognised more than VND 91 billion or about US$3.45 million in income from the legal victory in the third quarter.
Gold in public hands
Nguoi Lao Dong is reporting that the Vietnam Association of Financial Investors (VAFI) estimates that Vietnamese citizens hold more than 2,000 tonnes of gold, worth about US$300 billion at current prices → source.
VAFI said most of this gold remains stored privately, not circulating in the banking system, contributing to economic “goldisation”.
The association urged the government to impose a 10 percent VAT on gold bar and jewellery trading, similar to other goods, to reduce speculation and stabilise the market.
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SBV lending directions
Dan Tri is reporting that the State Bank of Vietnam Region 2 has directed banks in Ho Chi Minh City and Dong Nai to ensure sufficient capital flows for production, trade, services, tourism, and exports during the Tet period → source.
Credit will focus on essential goods, consumer demand, and export-oriented enterprises to support supply chains and stabilise markets.
Ed.’s notes: Highlights how lending is directed to certain sectors by the SBV as opposed to allowing the market to determine where credit should go.
Vietjet buys Rolls Royce engines
Nguoi Lao Dong is reporting that on 30 October 2025, Vietjet signed a US$3.8 billion agreement with Rolls-Royce for 92 Trent 7000 engines and comprehensive maintenance services → source.
The signing took place at the UK Foreign Office, witnessed by General Secretary To Lam, senior Vietnamese officials, and the UK Prime Minister’s envoy Matt Western during the Vietnam–UK High-level Economic Conference.
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Medical tourism
Nguoi Lao Dong is reporting that Ho Chi Minh City officials and health leaders are proposing a “soft hospital” model that would allow overloaded hospitals to continue receiving international medical tourists → source.
The concept involves partnerships between hospitals and tourism businesses to expand patient spaces and integrate medical care with hospitality services.
Health experts said cooperation between hospitals and travel agencies is essential for success, with hospitals providing medical expertise and tour operators managing logistics.
If implemented effectively, the model could ease hospital overcrowding while promoting Ho Chi Minh City as a regional medical tourism hub.
Ed.’s notes: This is part of an ongoing push into medical tourism. Not clear how significant a medical tourism industry might be – Vietnam’s not well known in the region for its healthcare system.
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Dairy imports
the-shiv is reporting that Vietnam’s milk and milk product imports fell 5.10 percent month-on-month to US$100.14 million in September 2025, according to preliminary data from Vietnam’s General Department of Customs → source.
Year-to-date imports stood at US$1.06 billion, with New Zealand remaining the largest supplier at US$19.94 million, but down 16.87 percent.
Vietnam Airlines revenue
VnExpress is reporting that Vietnam Airlines (VA) reported consolidated revenue of VND 90.18 trillion or about US$3.42 billion in the first nine months of 2025 → source.
It notes after-tax profit totalled VND 7.17 trillion or about US$272 million, 14.5 percent higher than a year earlier.
Vietnam Airlines attributed its strong results to higher demand, expanded international routes, and cost management despite volatile fuel prices and currency rates.
The airline noted global economic uncertainty, persistent geopolitical tensions, and volatile fuel prices as key risks affecting operations.
It also highlighted sustained exchange rate pressures that have increased costs for leasing, maintenance, and debt servicing.
The company also raised nearly 900 million new shares, increasing capital to VND 8.97 trillion or about US$341 million, resolving its negative equity position.
Ed.’s notes: Worth noting its recovery has been on the back of significant government support and the cancelling of sizeable debts of its subsidiary Pacific Airways.
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FDI Enterprises on HCMC challenges
Vietnamnet is reporting that foreign investors, at a meeting with city leaders in Ho Chi Minh City, Thursday, said complex administrative procedures continue to hinder investment and increase opportunity costs → source
Seck Yee Chung, vice chairman of the Singapore Business Association, said lengthy licensing processes, especially sub-licences for foreign firms, often exceed official timelines by months.
The Australian Chamber of Commerce said inconsistent approval and customs procedures, along with traffic and logistics issues, reduce competitiveness.
EuroCham’s Erick Contreras called customs delays a persistent problem.
JETRO’s Okabe Mitsutoshi urged more transparency in business registration and labour permits, noting many Japanese firms see bureaucracy as Vietnam’s top risk.
City chairman Nguyen Van Duoc promised a 30 percent reduction in procedures.
Ed.’s notes: Same issues that are often raised. No new policy objectives or outcomes reported that might help resolve these issues.
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New gold bar products
VnExpress is reporting that ACB has said it has restored gold production capacity and is preparing to launch its own branded gold bars once licensed by the State Bank of Vietnam → source.
The bank told investors that strong domestic demand and limited supply, together with Decree 232 ending state monopoly on gold, should create new opportunities for a transparent and competitive market, the publication is reporting.
Techcombank is also preparing to produce its own gold bars, while major jewellers PNJ, DOJI and SJC are expected to receive production approval.
Ed.’s notes: A lot of firms banking on gold import quotas. Not clear they will actually go ahead to the extent that it will make a significant difference to the gold price or these firms’ bottom lines.
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Microfinance, savings
Vietnamnet is reporting on a microfinance institution that has built a capital base of about VND 2.3 trillion or US$87 million from weekly savings deposits as small as VND 5,000 or less than US$0.20 per person → source.
Pham Thi Thuy Linh, general director of Tinh Thuong Microfinance Organisation (TYM), said more than 220,000 low-income women contribute regularly.
She said TYM’s repayment rate exceeds 99.99 percent, with bad debts at just 0.0004 percent, even during crises.
Deputy Governor of the State Bank Pham Thanh Ha said saving fosters discipline and supports national economic growth.
Ed.’s notes: Saving money is a recurring theme in recent months, however, there is also a push for greater domestic consumption. Worth noting also that private lending is a key feature of the current growth strategy. That is to say, there is a lot of mixed and conflicting messaging happening here.
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Mobilising gold
Tuoi Tre is reporting on measures to mobilise and financialise gold holdings among Vietnamese citizens → source.
National Assembly session, delegate Thach Phuoc Binh, noted that people in Vietnam hold an estimated 400 to 500 tonnes of gold, worth about US$35–40 billion or nearly 8 percent of GDP, much of which remains idle.
His proposals include establishing a national gold exchange (already on the cards) for standardised deposits and digital certificates, and creating gold-backed financial products such as deposit certificates, investment funds, and bonds.
Binh said the goal is to transform dormant assets into productive capital while maintaining public trust through clear management of state and private resources.
Ed.’s notes: In the early 2000s, several Vietnamese banks accepted gold deposits and even issued loans in gold, paying depositors interest.
This was intended to mobilise idle gold holdings and stabilise the domestic gold market, but also encouraged people to buy more gold for the deposit income, increasing demand and putting pressure on foreign currency reserves due to gold imports.
This is what led to the reforms that are contributing to current distortions in the market now.
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Land use fees, house prices
Tuoi Tre is reporting that the Ministry of Construction has urged local authorities to regulate land use fees at reasonable levels to prevent them from inflating housing prices → source.
In its third-quarter 2025 report, the ministry said new apartment projects averaged VND 78 million or about US$2,960 per square metre, with more than 30 percent priced above VND 100 million or about US$3,795 per square metre.
It said high land costs, legal delays, and limited supply remain key factors driving prices up.
Ed.’s notes: Its difficult to see how land use fees could not increase prices. In some parts of HCMC and Hanoi changes to the Land Law last year have seen land values jump several hundred percent.
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New Vingroup film company
Tuoi Tre is reporting that billionaire Pham Nhat Vuong, the Chariman of Vietnam’s Vingroup conglomerate, and his family have established a new film production company called V-Film with charter capital of VND 10 billion or about US$380,000 → source.
According to the company’s registration, Vingroup contributed VND 1 billion or 10 percent, while Pham Nhat Vuong personally invested VND 4.5 billion or 45 percent.
V-Film’s main business is film, video, and television production, alongside film distribution, cinema operations, and music publishing.
The company is chaired by Dang Thanh Thuy, also an executive at Vinpearl and other Vingroup cultural ventures.
Ed.’s notes: Vingroup has opened a lot of new companies in just the last few months. It’s difficult to see what the game plan is here. Monitoring.
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Exports to Italy
the-shiv is reporting that Vietnam’s exports to Italy rose 3.08 percent in September 2025 to US$453.98 million, according to preliminary data from Vietnam’s General Department of Customs → source.
Year-to-date exports reached US$3.99 billion, supported by strong shipments of coffee, footwear, and machinery.
Garment maker to pickleball court rental
VnExpress is reporting that Garmex Saigon, once a leading garment manufacturer, now earns most of its income from leasing land for pickleball courts → source.
Its third-quarter revenue was just VND 452 million or about US$17,000, with 63.5 percent from a rental contract with Vinaprint, while garment sales contributed only VND 5.4 million or US$205.
After years without export orders, the company halted production in 2023 and laid off nearly all 4,000 workers, leaving only 29 staff by September 2025.
Ed.’s notes: This has been a really long drawn out process. It speaks to this aversion to allowing businesses to fail and fits within a broader narrative around the need for bankruptcy/insolvency reform.
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Vietjet-Oxford cooperation
Vietnamnet is reporting that during a visit to the United Kingdom, Vietnam’s Prime Minister To Lam, along with Vietjet CEO Nguyen Thi Phuong Thao, met Oxford University leaders to discuss education and innovation cooperation → source.
Oxford Vice-Chancellor Irene Tracey highlighted ongoing partnerships with Vietnam, including a joint research project with Vietjet.
At the meeting, Thao reaffirmed her commitment to expanding collaboration with Oxford.
The article notes that she co-founded the £17.83 million Pioneer Scholarship Fund, contributing £13.7 million herself.
Thao said she views these initiatives as bridges of knowledge and compassion connecting Vietnam with the world.
Ed.’s notes:
1. Vietnamnet notes that this is a Vietjet press release. It’s unusual for Vietnam news outlets to point out when content is actually corporate communications materials.
2. Thao announced several years ago she would donate £155 million to Oxford but that never ended up going ahead. It would be interesting to know if this come up.
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