This week’s Vietnam news roundup covers Vietnam’s new BRICS partnership, updates to its emissions trading scheme, a major LNG power project, moves to tax soft drinks and tighten e-commerce tax collection, as well as corporate bond issuances, foreign stock trading activity, key outcomes from the crackdown on counterfeit goods, and more…

In case you missed it…

Vietnam’s BRICS Partnership: Risks & Benefits

Vietnam’s new BRICS partnership offers potential access to new financing and export markets but also carries risks. That said, it is only a small step forward and looks more like a pragmatic hedge than a major strategic shift. Read More »

Vietnam’s Emissions Trading Scheme 2025: What’s New?

Vietnam’s emissions trading scheme ambitions got a boost last week with the government finalising legal requirements to begin quantifying carbon emissions and assigning quotas to key polluters. Here’s how its emissions trading scheme works, who it affects, and why it matters. Read More »

💡Do you have insights others don’t?→Send us a tip 👉

Advertising news

Nestlé fined over misleading Milo milk advertisement

Nestlé Vietnam has been fined VND 80 million (US$3,077) and ordered to immediately remove promotional materials for its Milo barley milk after Dong Nai police ruled the company’s claims were misleading, Tuoi Tre has reported→view source.

The advertisement used unsubstantiated phrases like “best” and “only,” which authorities said could confuse or deceive consumers, violating the Law on the Protection of Consumer Rights.

Banking and finance news

Vietnam corporate bond issues top VND 46.77 trillion in May

Vietnam’s corporate bond market showed signs of renewed activity in May, with VND 46.77 trillion (US$1.80 billion) worth of private placements across 42 deals, according to data from the Vietnam Bond Market Association (VBMA).

Other key details include:

Redemptions: VND 15.86 trillion (US$610 million), up 6.7 percent year-on-year
Maturities remaining in 2025: VND 149.87 trillion (US$5.77 billion), of which real estate bonds account for VND 79.77 trillion (US$3.07 billion) or 53 percent
Late payments: 6 announcements of delayed interest/principal payments totalling VND 306 billion (US$11.8 million)
Secondary market: VND 111.26 trillion (US$4.28 billion) traded in May, a 25 percent increase from April, with a daily average of VND 5.56 trillion (US$214 million)

Vietnam dong continues to fall against greenback

The State Bank of Vietnam (SBV) has continued to carry out open market operations, though at a reduced pace.

Notably, there were US$1.24 billion worth of reverse repos outstanding as of the close of business June 19. There were, however, no outstanding treasury bills.

The value of the dong fell this week against the greenback, with the central exchange rate reaching a new low of VND 25,025 to the dollar.

Of note, this time last week, it was down by 2.66 percent over the start of the year. As of close of business June 12, that had jumped to 2.81 percent (based on the central exchange rate set by the SBV).

🎯 Reach business leaders active across ASEAN: Partner with the-shiv 👉

Energy news

Thai Binh LNG power plant to break ground in late 2025, investors confirmed

A US$2.56 billion liquefied natural gas (LNG) power plant project in Thai Binh province is scheduled to begin construction in late 2025, The Investor has reported→view source.

The plant, backed by Japanese firms Tokyo Gas and Kyuden Group alongside Truong Thanh Vietnam, is among 11 LNG power projects planned for commissioning between 2028 and 2029 under Vietnam’s updated national power plan (PDP VIII).

Of note, increased LNG imports have been floated as one way Vietnam might respond to potential US tariffs, amid tensions over its growing trade surplus with the US.

Intellectual property news

Intellectual property: Vietnam counterfeit crackdown uncovers 3,100+ violations

Vietnam’s nationwide crackdown on counterfeit goods uncovered 3,114 violations worth more than VND 63 billion (US$2.42 million) between May 15 and June 15, according to the Ministry of Industry and Trade, and reported by VN Express→view source.

Key details:

Administrative fines: VND 32 billion (US$1.23 million)
Goods confiscated: VND 31 billion (US$1.19 million)
Budget revenue collected: VND 36 billion (US$1.38 million)
Criminal referrals: 26 cases, up 50 percent year-on-year
Top violations: 1,580 cases of counterfeiting and IP infringement (52 percent of total, fines worth US$615,000); 648 smuggling cases (21 percent, fines worth US$231,000)

advertise with the-shiv

Media news

Vietnam’s top legislator reaffirms Party-aligned press mission

National Assembly Chairman Tran Thanh Man has praised journalists for their role in national development while reaffirming the media’s central mission: to uphold Party directives and reflect public sentiment within the Party’s ideological framework, Vietnam News has reported→view source.

The comments were made at an event marking 100 years of Vietnam’s state press.

This is a reminder that while Vietnamese media can be a valuable source for understanding official policy, tone, and priorities, as far as independence goes, it is very much a state-aligned institution.

Policy news

1,881-hectare Da Nang Free Trade Zone approved

Vietnam’s Prime Minister, Pham Minh Chinh, has officially approved the creation of the Da Nang Free Trade Zone (FTZ), The Investor has reported→view source.

The FTZ is set to cover 1,881 hectares across seven non-contiguous sites.

The FTZ represents Vietnam’s first pilot free trade zone under a national sandbox model, intended to drive infrastructure-led growth.

That said, specific incentives, which will be the key determinant of how successful the FTZ can be, have not yet been announced.

Real estate news

Trump family earns US$5 million from Vietnam licensing deal

A Trump-branded resort and golf course project in northern Vietnam is reportedly set to net the Trump family US$5 million, with US$4 million paid already, according to a disclosure to the US Office of Government Ethics→view source.

This sheds some light on the deal made between the Trump Organisation and Vietnam-based developer Kinh Bac with respect to the US$1.5 billion project.

advertise with the-shiv

Collateral to fund Vietnam’s Trump-branded resort to include factories, land, and cars

Kinh Bac City Development Holding Corporation (KBC), the local firm behind the high-profile Trump-branded complex in northern Vietnam’s Hung Yen province, is seeking shareholder approval to use land, factories, subsidiary shares, and even a luxury Lexus as collateral to fund the project, Dan Viet has reported→view source.

Dan Viet notes that as of Q1 2025, KBC’s total liabilities had reached VND 32.7 trillion or US$1.26 billion.

For contrast, it points out that KBC posted a Q1 2025 net profit of over VND 849.1 billion or US$32.66 million on revenue of VND 3.12 trillion or US$119.9 million.

Stock market news

Foreign traders net-buy US$18 million of HoSE stocks

Over the last five trading sessions to the close of business on June 19, foreign investors net-bought US$18.06 million worth of HCMC Stock Exchange stocks.

This brings the current balance for the year to negative US$1.52 billion.

Foreign trader activity, last five trading days

	Buy		Sell		Change
Date	VND	US$	VND	US$	VND	US$
13/6	2,538	$97.14	2,445	$93.58	93	$3.56
16/6	2,971	$113.71	1,984	$75.93	987	$37.78
17/6	2,449	$93.73	1,887	$72.22	562	$21.51
18/6	2,081	$79.65	2,357	$90.21	-276	-$10.56
19/6	1,243	$47.57	2,137	$81.79	-894	-$34.22
Total	11,282	$431.80	10,810	$413.73	472	$18.06

VND = billions; US$ = millions; source: HSX

advertise with the-shiv

Tax news

New decree requires e-commerce platforms collect tax for Vietnam sellers

Decree 117/2025/NĐ-CP has officially been issued, introducing stricter tax compliance obligations for e-commerce platforms, including requiring platforms to collect tax on behalf of their Vietnamese sellers.

The decree is effective from July 1.

Vietnam to impose excise tax on soft drinks from 2027

Vietnam’s National Assembly has passed an amendment to the Law on Special Consumption Tax, adding soft drinks to the items the tax attracts and revising tax schedules for alcohol, tobacco, air conditioners, and fuel, VN Express has reported→view source.

The amended law will take effect on 1 January 2026.

Key details:

Soft drinks tax: 8 percent from 2027, rising to 10 percent in 2028; excludes milk, mineral water, fruit juices, and nutritional liquids.
Alcohol tax: Wine (≥20°) to rise from 65 percent in 2026 to 90 percent by 2031; lower-strength wine and beer follow similar escalations.
Tobacco tax: Absolute tax to be applied from 2027—VND 2,000 per pack (cigarettes), rising to VND 1,000 in 2031; cigars to reach VND 100,000 per unit.
Air conditioners: Units with 24,000–90,000 BTU to be taxed at 10 percent from 2026; smaller and very large units exempt.
Fuels: Mineral gasoline retains a 10 percent tax; biofuels (E5, E10) benefit from lower rates at 8 and 7 percent, respectively.

advertise with the-shiv

Subsidiaries excluded from SME tax incentives under new CIT law

Subsidiaries and affiliated companies will not be eligible for the new preferential tax rates of 15–17 percent aimed at small and medium-sized enterprises (SMEs), under Vietnam’s amended Law on Corporate Income Tax, VN Express has reported→view source.

The general corporate income tax rate remains at 20 percent, while firms with annual revenues under VND 3 billion and VND 50 billion may access lower rates—unless they are linked to larger corporations.

8 percent VAT cut extended through end-2026

Vietnam’s National Assembly has approved a reduction in the value-added tax (VAT) rate from 10 percent to 8 percent for most goods and services, effective from July 1, 2025, to December 31, 2026, The Investor has reported→view source.

The budget impact is expected to be a loss of VND 39.54 trillion (US$1.52 billion) in the second half of 2025 and VND 82.2 trillion (US$3.15 billion) in 2026.

advertise with the-shiv

Technology news

Telegram ban sees crypto communications plummet

User activity in ten major Vietnamese crypto communities dropped over 45 percent within days of Vietnam’s Telegram ban going into effect, according to a report from Tiger Research→view source.

This speaks to the significant ability state censors have to shape, disrupt, or even cripple parts of Vietnam’s digital economy, especially when key services are utilising foreign platforms.

To the crypto sector and other industries dependent on cross-border platforms more broadly, this should act as a reminder of the risks of doing business in Vietnam’s digital sphere.

Transport & infrastructure news

US$67 billion high-speed railway faces 140-year capital recovery, minister warns

If the Government of Vietnam spends US$67 billion on the proposed North-South high-speed railway, as opposed to using funds from private investors, it could take up to 140 years to recover the cost, according to the Minister of Construction, Tran Hong Minh and reported by Thanh Nien→view source.

Minh has instead pushed for pirate investment, pointing out that building high-value urban zones around the railway will make the investment more viable.

This comes in the context of discussions around a Draft Law on Railways, which includes mechanisms to attract private capital.

advertise with the-shiv

The week ahead

There are a handful of events coming up this week. For more information, see: Doing Business in Vietnam: Events Directory 2025.

Your support keeps this site independent and objective.
If you find value in this work, please consider making a contribution.

$2/mo $5/mo $10/mo One-time

Need more convincing?

Our content is free because we believe a rising tide lifts all boats.

By making accurate, independent information accessible to everyone, we help create a more informed, resilient, and empowered business community.

When businesses, investors, policymakers, and everyday readers all have access to clear, unbiased analysis, it leads to better decisions, fairer opportunities, and stronger economic outcomes for all.

That said, while our content is free to read, it costs money to create.

Behind every article is careful research, fact-checking, and expert analysis — all of which require time, skill, and resources.

If you can spare a couple of dollars, your support helps ensure that reliable, unbiased information remains accessible to all.