This is a brief rundown of what is being reported today in Vietnam and about Vietnam in the international press.
It endeavours to highlight the narratives currently shaping the country’s economic, financial, and business news landscape.
Ed’s note: I’m always looking for new sources with unique insights. If you have anything to share, reach out: mark.barnes@the-shiv.com
Credit rating improvement target
VnExpress is reporting that the government has revised its sovereign credit-rating plan, targeting investment-grade status by 2030 while maintaining average annual gross domestic product growth of at least 10 percent.
Vietnam is currently rated BB+ by S&P and Fitch, one notch below investment grade, while Moody’s rates it Ba2. View source→
*If the growth strategy stays the same — that is, heavily reliant on cheap credit and looser banking-sector regulation — then it seems more financial risk, rather than less, is probably on the cards.
Vinhomes Pomina Steel loans
Znews is reporting that Vinhomes had provided Pomina Steel with more than VND 1.1 trillion (US$42 million) in interest-free financing as of June 30.
Vingroup originally announced in November 2025 that VinMetal would provide the financing, but Vinhomes ultimately supplied the funds, the article notes. View source→
*Vingroup has its own steel firm in VinMetal, so it’s not really clear what the goal of this arrangement with Pomina Steel is.
Meat imports
Znews is reporting that Vietnam imported 658,700 tonnes of meat and meat products worth US$1.91 billion in the first eight months of 2026, customs data showed.
Imports increased 5.6 percent by volume and 26.3 percent by value compared with the same period last year. View source→
Nghi Son refinery performance
The Investor is reporting that Nghi Son Refinery and Petrochemical Complex has reported its first profit since beginning commercial operations in 2018, earning VND14 trillion (US$539 million) through August.
It also notes that the refinery plans to source about 40 percent of its crude outside Kuwait and currently supplies about 35–40 percent of Vietnam’s petroleum demand. View source→
Trade returns to surplus
Tuoi Tre is reporting that Vietnam recorded a US$1.27 billion trade surplus in September, ending nine consecutive months of trade deficits.
Exports reached a record US$59.5 billion, up 39 percent year-on-year, while imports totalled US$58.2 billion. View source→
*I’m a bit skeptical of these numbers. There has been a concerted effort by the government to reduce the trade deficit which makes me wonder if this is the result of moving things around rather than an actual change in fortunes.
Credit growth numbers
Dan Tri is reporting that Vietnam’s outstanding bank credit reached VND20.75 quadrillion (US$789 billion) by September 30, up 11.59 percent from the end of 2025, and 16.69 percent year-on-year. View source→
PM calls for electricity price freeze
VnExpress is reporting that Prime Minister Le Minh Hung has ordered electricity prices to remain unchanged as the government seeks to contain inflation through year-end. View source→
*That is to say, retail prices moving forward may not necessarily reflect input costs, and therefore CPI outcomes may not necessarily be sustainable.
PM calls for 12.5 percent GDP growth Q4
Znews is reporting that Prime Minister Le Minh Hung on October 3 called for gross domestic product growth above 12.5 percent in the fourth quarter.
Hung said the growth rate was required for Vietnam to achieve its target of double-digit economic growth in 2026. View source→
Tourism numbers
VnExpress is reporting that Vietnam welcomed 17.7 million international visitors in the first nine months of 2026, up 14.5 percent year-on-year, official data showed.
The article contrasts Vietnam’s growth with declines in several regional markets, including Thailand, Singapore and Cambodia. View source→
China solar firm Vietnam operations sued
Technode is reporting that US solar manufacturer First Solar sued China’s JA Solar and its Vietnam unit on October 1 over alleged infringement of a solar-cell manufacturing patent.
The lawsuit, filed in Delaware, concerns First Solar’s US patent covering methods used to manufacture Tunnel Oxide Passivated Contact solar cells. View source→
LNG development progress delays
The Investor is reporting that only one of 18 major liquefied natural gas power projects under government monitoring is on track.
Sixteen projects have selected investors, but only two have begun construction, while 14 remain in investment preparation.
Vietnam plans to commission 15 LNG power projects totalling 22,524 megawatts by 2030 under its revised Power Development Plan VIII. View source→
Exchange rates
As of 7.30am this morning, the black market US dollar buy rate was VND 25,920, and the sell rate was VND 25,960, a change of 0 and 0, respectively, for a mid-market rate of VND 25,940, according to prices quoted by Ty Gia USD.
Meanwhile, the State Bank of Vietnam’s central exchange rate was set at VND 25,636, while the Google Finance mid-market rate stood at VND 25,986.
The spread between the SBV’s central exchange rate and black-market mid-market rates was VND 304 or 1.19 percent.
Stock market Friday
The VN-Index closed at 1,737.71, down 11.59 points or 0.66 percent, with a total trading value of VND 19,176.09 billion or US$727.75 million, and foreign traders net-selling US$124.67 million worth of equities, Friday, according to the latest data from the Ho Chi Minh City Stock Exchange.
Friday’s news roundup
In today’s news: SBV raises loan-to-deposit cap, Fuel tax cut extension, Denmark jewellery factory opens, Taiwan cooling system manufacturer expansion, SK firm gas power plant contract, Expressway development capital needs, Hyosung bio chemical plant starts operating, PMI falls, Fuel price changes, Government bond auction outcomes, Exchange rates, Stock market Thursday, Yesterday’s news roundup, and more. View source→