In this week’s Vietnam News Roundup, credit growth accelerated, the dong strengthened while the black-market gap widened, GDP growth remained strong, inflation edged higher, foreign investment commitments rose, industrial output surged, Vietnam’s stock market advanced despite foreign selling, tourism eased, trade activity stayed robust, and more.
In case you missed it…
Growth Accelerates, Debt Deepens: Vietnam’s GDP Growth Q3 2025
Vietnam pulled off another big quarter in terms of GDP growth in Q3, registering 8.23 percent, the fastest third-quarter growth rate since 2022, according to the National Statistics Office (NSO).
This article breaks down Vietnam’s GDP growth in Q3 2025 per the NSO data, looks at what is driving this growth, where the demand is coming from, and how it’s being paid for. Read More »
Automotive news
Credit growth in Vietnam up 13.37 percent over end-December
Credit growth in Vietnam reached 13.37 percent in the first nine months of 2025, with total outstanding loans estimated at VND 17.7 quadrillion (US$680.7 billion), up 4 percent year-on-year, according to Pham Chi Quang, Director of the Monetary Policy Department at the State Bank of Vietnam and reported by VN Express → view source.
By sector, trade and services accounted for nearly 70 percent of credit, followed by industry and construction at 24 percent, and agriculture, forestry, and fisheries at 6.23 percent.
Real estate lending rose 19 percent year-on-year to about VND 4 quadrillion by end-August.
See also: Vietnam’s 8 Percent GDP Growth Target: Unpacked
Local currency strengthens against the greenback
The State Bank of Vietnam (SBV) allowed the local currency to strengthen this week, with the central exchange rate ending Thursday at VND 25,130, down 32 dong since last Thursday.
The black market mid-market rate, however, jumped up from VND 26,515 to VND 26,830.
The spread between the central exchange rate and the black market mid-market rate, as of last night, was sitting at 6.96 percent, up from 5.51 percent last Thursday.
The SBV continued to pump money into the economy with just over US$5.73 billion worth of reverse repos outstanding as of the close of business on October 10.
This was up slightly from US$6.88 billion at the same time last week.
There were no new treasury bills issued; however, there were still US$65.7 million worth outstanding as of last night.
See also: How Low Can the Vietnamese Dong Go?
Economy news
Vietnam GDP growth accelerates to 8.23 percent in Q3 2025
Vietnam’s economy expanded strongly in the third quarter of 2025, with GDP rising by 8.23 percent year-on-year, according to preliminary estimates from the National Statistics Office.
This marks the second-highest third-quarter growth rate over the last decade, behind a 14.38 percent increase recorded in the same period of 2022.
By sector, agriculture, forestry, and fisheries grew by 3.74 percent, contributing 5.04 percent to overall growth.
The industry and construction sector rose by 9.46 percent, contributing 46.41 percent, led by the processing and manufacturing subsector, which expanded 9.98 percent.
Finally, services increased by 8.56 percent, accounting for 48.55 percent of total growth.
See also: Is Vietnam the Next Asian Tiger Economy?
Vietnam’s CPI rises 0.42 percent in September, driven by higher education and housing costs
Vietnam’s consumer price index (CPI) rose 0.42 percent in September 2025 compared to August, led by higher tuition fees, food prices, and housing maintenance costs, according to the National Statistics Office.
The CPI was 2.61 percent higher than in December 2024 and up 3.38 percent year-on-year.
Average CPI growth in the third quarter was 3.27 percent from a year earlier, while core inflation rose 3.19 percent year-on-year for the January–September period.
Investment news
Pledged FDI up 15.2 percent to US$28.54 billion in first nine months of 2025
Pledged foreign investment into Vietnam reached US$28.54 billion as of September 30, 2025, up 15.2 percent year-on-year, according to the latest data from the National Statistics Office.
The figure includes newly registered, adjusted, and capital contribution or share purchase transactions by foreign investors.
In the first nine months of the year, 2,926 new projects were licensed with a total registered capital of US$12.39 billion, representing a 17.4 percent increase in project numbers but an 8.6 percent decline in capital value, the NSO says.
Manufacturing news
Industrial output in Vietnam surges 10 percent in Q3 2025 on export rush, energy gains
Vietnam’s industrial production index (IIP) surged by 10 percent year-on-year in the third quarter of 2025, marking the fastest pace since 2020, according to data from the National Statistics Office (NSO).
The jump was driven by enterprises ramping up production ahead of higher U.S. tariffs, a rebound in mining, and stronger electricity generation, the NSO says.
The processing and manufacturing sector expanded 10.2 percent, the mining industry 8.2 percent, electricity production and distribution 9.8 percent, and water supply and waste treatment 5.3 percent.
Stock market news
FTSE Russell to reclassify Vietnam as secondary emerging market in 2026, pending March review
FTSE Russell has announced that Vietnam will be reclassified from a Frontier to a Secondary Emerging market effective 21 September 2026, pending an interim review in March 2026, according to the firm’s Country Classification September 2025 Announcement → view source.
The decision follows reforms last year that removed the pre-funding requirement for foreign institutional investors and introduced a formal process for handling failed trades, meaning Vietnam now meets all technical criteria under the FTSE Equity Country Classification Framework.
However, full implementation depends on Vietnam allowing foreign investors to trade through global brokers, a key condition for enabling index replication.
“Given the importance of this issue to index users, the IGB has determined that addressing the access of global brokers is essential for the reclassification to proceed,” the announcement says.
It notes, however, that authorities are developing a model to facilitate this access and align local practices with international standards.
Assuming all goes to plan, the reclassification will occur in phased tranches, with final confirmation and implementation details to be announced after the March 2026 review.
See also: Vietnam’s Stock Market Upgrade Opportunity: Unpacked
VN-Index jumps, but foreign traders continue to net-sell US$220 million
Over the last five trading sessions to the close of business on October 9, foreign investors net-sold US$220.55 million worth of HCMC Stock Exchange stocks.
This brings the total net sold by foreign traders for the year-to-date to just under US$4.1 billion.
The VN-Index closed Thursday at 1,716.47 points, up 63.76 points since last Thursday.
Foreign trader activity, last five trading days
| Buy | Sell | Change | ||||
| Date | VND | US$ | VND | US$ | VND | US$ |
| 3/10 | 2,575 | $97.73 | 3,798 | $144.15 | -1,223 | -$46.42 |
| 6/10 | 3,131 | $118.83 | 4,989 | $189.35 | -1,858 | -$70.52 |
| 7/10 | 2,437 | $92.49 | 3,777 | $143.35 | -1,340 | -$50.86 |
| 8/10 | 4,437 | $168.40 | 4,218 | $160.09 | 219 | $8.31 |
| 9/10 | 3,214 | $121.99 | 4,823 | $183.05 | -1,609 | -$61.07 |
| Total | 15,794 | $599.45 | 21,605 | $820.00 | -5,811 | -$220.55 |
VND = billions; US$ = millions; source: HSX
See also: Explainer: What’s Driving Vietnam’s Stock Market Rally?
Tourism news
Vietnam welcomes 1.52 million visitors in September, down 9.6 percent from August
Vietnam recorded 1.52 million international visitors in September 2025, a 9.6 percent decrease from August but a 19.5 percent increase compared to the same month last year, according to the latest data from Vietnam Tourism.
Year-to-date, arrivals totalled 15.43 million, with arrivals from Asia reaching 1.24 million, down 8.5 percent from the previous month.
See also: Vietnam’s Tourism Industry 2025: Growth, Challenges, & Opportunities
Trade news
Import-export turnover rises 17.3 percent to US$680.66 billion January – September
Vietnam’s total import and export turnover of goods reached US$82.49 billion in September, down 0.7 percent from August but up 24.8 percent year-on-year, according to data from the National Statistics Office.
It did, however, record a goods trade surplus of US$2.85 billion.
For the first nine months of 2025, total trade hit US$680.66 billion, up 17.3 percent year-on-year.
Exports rose 16 percent, imports 18.8 percent, resulting in a trade surplus of US$16.82 billion.
Vietnam balance of trade, September 2025
| September | August | Change | Year to Date | |
| Exports | 42,670,310,936 | 43,386,350,257 | -1.65% | 348,741,306,404 |
| Imports | 39,824,423,433 | 39,669,299,926 | 0.39% | 331,915,130,518 |
| Total | 82,494,734,369 | 83,055,650,183 | -0.68% | 680,656,436,922 |
| Difference | 2,845,887,503 | 3,717,050,331 | -23.44% | 16,826,175,886 |
The week ahead
There are a handful of events coming up this week. For more information, see: Doing Business in Vietnam: Events Directory 2025.