Vietnam News Roundup: May 23 to May 29

This week’s Vietnam news roundup covers Telegram’s looming ban, rising foreign concerns over retroactive solar subsidy cuts, and the global rollout of hit horror film Detective Kien. Plus: a gold market shake-up, new JETP funding, the US$10B worth of deals reached during Macron’s Vietnam visit, and more…

In case you missed it…

Trans-shipping: To What Extent is Vietnam China’s backdoor to the U.S.?

Vietnam’s role as a trans-shipment hub for Chinese goods has become a key point of contention between the US and Vietnam. While there seems to be little question that this practice is taking place, there does seem to be some debate as to what extent. With this in mind, this article looks at a few key data points worth considering. Read More »

Vietnam Shoots the (Telegram) Messenger: Implications & Impacts

Telegram is set to be banned in Vietnam because it is allegedly being used for nefarious activities. Foreign firms should see this as a reminder of the often arbitrary and unpredictable nature of Vietnam’s digital regulatory environment. Read More »

Banking and finance news

Vietnam dong slides again

The State Bank of Vietnam (SBV) has continued to carry out open market operations. Notably, there were US$1.96 billion worth of reverse repos outstanding as of the close of business May 29. There were, however, no outstanding treasury bills.

Of note, the value of the dong fell again this week against the greenback. Whereas this time last week it was down by 2.52 percent over the start of the year, as of close of business May 29, it was down by 2.55 percent (based on the central exchange rate set by the SBV).

See also: Right Now, a Weak Dong Could be Good for Vietnam. Here’s Why.

Creative industries news

Vietnam horror flick gets global release after local box office success

Vietnam’s top-grossing horror film, Detective Kien: The Headless Horror, a supernatural thriller set in the Nguyen Dynasty, is set to roll out in 12 international markets this month, Deadline has reported. 

Of note, the global release of Detective Kien is a positive sign for Vietnam’s film industry.

That said, filmmaking in Vietnam does face a number of unique challenges, censorship in particular, that keep the industry from really gaining steam. That is to say, there is still a long way to go before Vietnamese film can rival even its regional counterparts in terms of global success.

See also: Vietnam’s Film Industry 2025: Regulations, Consumer Trends, Challenges

Energy news

Investors allege Vietnam solar, wind subsidies cut without consent

Vietnam’s state utility EVN has retroactively reduced previously agreed feed-in tariffs (FiTs) for some solar and wind projects, an investor’s petition seen by Reuters has alleged. 

A subsidiary of EVN has reportedly been calculating payments based on an FiT lower than what was originally agreed. 

For background, the original FiTs in question led to a renewable energy boom in Vietnam with installed capacity among the highest in Asia at the end of 2021.

The state power provider, however, has been struggling financially for a range of reasons, with said subsidies identified as weighing on its business. As a result, EVN has been looking for ways of reducing those costs, including reducing the FiTs.

This is, of course, problematic for Vietnam’s credibility as a renewable energy investment destination. Moreover, retroactive subsidy cuts and unilateral withholding of payments can undermine trust in government guarantees, and this could prove damaging for future investment from abroad in the local power sector.

See also: Electricity in Vietnam 2025: Supply, Pricing & Sources 

Vietnam receives first tranche of JETP funding

Vietnam has secured its first funding under the Just Energy Transition Partnership (JETP), with the French Development Agency (AfD) providing €67 million to the National Power Transmission Corporation (EVNNPT) for major transmission projects, VN Express has reported.

This milestone signals that international concessional finance is beginning to flow, improving the bankability of large-scale infrastructure, especially in transmission, hydropower, and energy storage. 

However, risks remain.

While the Vietnamese government is reforming legal frameworks such as the Electricity Law and Power Development Plan VIII, regulatory uncertainty and slow project approvals still pose challenges. 

That is to say, the progress of this JETP-backed project shows momentum, but execution will require both patience and strategic positioning.

See also: Rethinking Financing Vietnam’s Clean Energy Transition

Gold news

Vietnam General Secretary calls for end to state monopoly on gold bars

Vietnam’s General Secretary To Lam has called for an end to the state monopoly on gold bar production, urging a shift toward a “controlled and planned market” model that allows qualified enterprises to produce gold bars under state oversight, VN Express has reported.

The move comes after a decade of State Bank monopoly over gold bar production, which has led to market distortions, a reduction in trading points, and restricted raw material supply.

An end to Vietnam’s state monopoly on gold bar production could create new opportunities in refining, bullion trading, logistics, and compliance services. 

Implementation will, of course, likely be gradual, but with direction coming from the top, it suggests a more open, competitive, and internationally integrated gold market in Vietnam may be on the cards.

See also: The Gold Price in Vietnam: Explained

Human resources news

Vietnam faces cybersecurity workforce crisis

Vietnam is projected to face a shortfall of 700,000 cybersecurity professionals by 2028, driven by rapid digitalisation and rising cyber threats, Vu Ngoc Son, Head of Technology and International Cooperation at the National Cybersecurity Association, has told a conference, VietnamNet has reported.

Contributing factors include outdated training programs, brain drain to higher-paying overseas jobs, and low domestic salaries and career prospects.

Of note, with many local firms lacking sufficient protection, foreign firms may face increased vulnerability across their supply chains, third-party service providers, or joint venture partners. 

Regulatory gaps and slower incident response times can also compromise data security, IP protection, and business continuity. 

With this in mind, it might be prudent for firms to invest in their own cybersecurity capacity, offer local training programmes, or push for higher security standards in procurement and compliance.

See also: ICT Industry in Vietnam 2025: Market Size, Key Players & Regulations 

Logistics news

Vietnam, France firms team up on US$492 million Hai Phong port expansion

Saigon Newport Corporation (SNP), under the Ministry of National Defence, will partner with France’s CMA CGM to build berths 7 and 8 at Lach Huyen, Hai Phong, with operation targeted for 2028, Cafe F has reported.

The deep-water project is valued at VND 12.79 trillion or US$492 million.

Of note, this project with CMA CGM may reflect a growing openness to foreign participation, particularly in capital-intensive deep-water terminals.

However, it’s worth noting that most port concessions remain closely linked to state-owned enterprises or military-run corporations, and project terms are often shaped by broader strategic considerations as opposed to commercial interests.

See also: Vietnam Seaports 2025: Key Players, Regulations & Development Plans

Stock market news

Foreign traders net-buy US$67.74 million of HoSE stocks

Over the last five trading sessions to the close of business on May 29, foreign investors net-sold US$67.74 million worth of HCMC Stock Exchange stocks. This brings the total net-sold since the start of the year to US$1.43 billion.

See also: Vietnam’s Foreign Investor Stock Sell-Off: Unpacked

Foreign trader activity, last five trading days

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

Telecommunications news

Telegram is set to be blocked in Vietnam

Vietnam’s Department of Telecommunications advised Vietnamese internet service providers, via an official letter, that they had until June 2 to “deploy solutions and measures to prevent Telegram’s activities in Vietnam.”

The move follows a request from the Department of Cyber Security and High-Tech Crime Prevention, part of the Ministry of Public Security, citing widespread illegal activity on Telegram, including anti-state propaganda, fraud, drug sales, and terrorism links.

For foreign firms, this should serve as a reminder of the compliance risks operating in sectors like tech, media, fintech, and cloud services, and that market access may require local registration, data localisation, and active coordination with Vietnamese authorities.

This could also be read as an indication of Vietnam’s intent to continue to crack down on online content that the government disapproves of despite the challenges this poses to key trade partners like the US.

See also: ICT Industry in Vietnam 2025: Market Size, Key Players & Regulations

Technology news

Insights into Vietnam’s black market for personal data

Personal data of millions of Vietnamese citizens is being sold for as little as VND 1,000 (4 US cents) to VND 4,000 (16 US cents) per record on Telegram, Zalo, and Facebook fan pages, Viettimes has reported. 

Sellers offered a reporter for the publication tailored datasets by profession and location, offering to transfer the files within 5–10 minutes of receiving payment.

Of note, foreign companies collecting customer or employee data in Vietnam are subject to the Personal Data Protection Decree, which includes localisation requirements and prohibits unauthorised data sharing. Even if the leak originates from a third-party contractor or local partner, the foreign brand may still face legal liability and damage to its reputation.

On that note, given the rampant data leaks and weak enforcement, just following the law may not be enough to keep data secure—firms should really consider going beyond the bare minimum when it comes to how they store and use data collected in Vietnam.

See also: Vietnam’s Law on Cybersecurity: Overview 2025 

Trade news

Trade & investment: US$10 billion in deals signed during Macron visit to Vietnam

Vietnam and France have signed 14 agreements covering aviation, defence, space, healthcare, transport, and energy, during the first official trip by a French president to Vietnam in nearly a decade, Reuters has reported.

The total value of contracts signed was €9 billion or approximately US$10.25 billion, according to Macron.

Deals include:

• VietJet agreed to purchase 20 Airbus A330neo wide-body aircraft.
• Airbus Defence and Space signed an MoU with Vietnam to explore a future Earth-observation satellite programme.
• Sanofi will expand cooperation on vaccines.
• CMA CGM and Saigon Newport will jointly develop a US$600 million deepwater port in northern Vietnam, to be completed by 2028.

See also: How to Start a Business in Vietnam

The week ahead

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