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
Jollibee partial Highlands sale
Znews is reporting that Jollibee Foods Corporation intends to sell an 11 percent stake in Highlands Coffee’s holding company to Viet Thai International.
The VND 2.3 trillion (US$88 million) deal will reduce Jollibee’s stake from 60 percent to 49 percent, with Jollibee saying the transaction values Highlands Coffee at US$800 million. View source→
Gov’t bond auction outcome
Vietnam’s State Treasury offered VND 33 trillion (US$1.25 billion) of government bonds at its September 23 auction, according to the latest release from the Vietnam Bond Market Association.
Five-year bonds raised VND 6.5 trillion (US$247 million) at 4.27 percent, while 10-year bonds raised VND 20.62 trillion (US$782 million) at 4.43 percent.
No three- or 15-year bonds were sold, while VND 50 billion (US$1.9 million) of 30-year bonds cleared at 4.62 percent.
Year-to-date issuance reached VND 288.28 trillion (US$10.94 billion), equivalent to 57.7 percent of the State Treasury’s 2026 issuance plan. View source→
Real estate sector analysis
Fulcrum is carrying analysis from Nguyen Khac Giang in which he argues Vietnam’s increasing reliance on land to finance growth risks tying public finances, banks, and investment more closely to the property cycle
Giang argues Vietnam should make land finance more transparent and competitive while reducing its importance to public finances and the broader economy. View source→
*This is very interesting. I would recommend giving it a read.
Data centre power problems
Technode is reporting that CMC and Viettel have asked the government to resolve an electricity pricing dispute after their Ho Chi Minh City data centres faced disconnection in September due to unpaid power bills.
Ho Chi Minh City Power Corporation has reclassified the operators from manufacturing to higher business electricity rates, increasing their power bills by more than 50 percent; however, CMC and Viettel have argued they should qualify for cheaper manufacturing rates and have paid their bills accordingly. View source→
*Note that Viettel and EVN are both state-owned enterprises and are now looking to the state to settle this pricing dispute. That is, the state is effectively the vendor, the customer, and the arbitrator.
FTSE upgrade analysis
SGI Capital Chief Executive Officer Le Chi Phuc has told The Investor that Vietnam’s FTSE Russell upgrade does not mean foreign capital will immediately flow into the market.
Phuc said SGI Capital is maintaining high cash holdings while awaiting more attractive valuations, more predictable interest rates and greater clarity over external economic risks. View source→
Sun Group resort development
The Investor is reporting that Sun Group subsidiary Quang Binh Sun is seeking environmental approval for a VND 16.2 trillion (US$623 million) tourism complex in Quang Tri province.
The proposed 167-hectare development around U Bo mountain and Thac Chuoi lake would include resorts, hotels, serviced apartments and entertainment facilities, with five cable-car lines planned. View source→
*The photo in this article shows a very lush, green mountainside where the development, presumably, will be. I’d point out that side-by-side before-and-after photos showing significant destruction of the native forest for Vingroup’s Hai Van Bay project in Da Nang did not go over well with the general public.
UN financial support
VOV is reporting that Vietnam will receive an estimated US$221.2 million from three United Nations agencies under development programmes covering 2027–2031.
The programmes include US$115.5 million from the United Nations Development Programme and US$85 million from the United Nations Children’s Fund. View source→
*The article doesn’t detail the projects the funding is for.
AMRO growth forecast
The ASEAN+3 Macroeconomic Research Office (AMRO) is projecting Vietnam’s economy will grow about 7.5 percent in 2026, with inflation reaching 4.3 percent, in its latest assessment.
It says higher global energy prices are increasing inflation, production costs and pressure on Vietnam’s external balance as a net energy importer. View source→
AMC Robotics operations start date
Technode is reporting that US-based AMC Robotics plans to begin operating the first phase of a new Vietnam production line by the end of 2026.
The Nasdaq-listed robotics company is targeting US$30 million in annual output from the factory, operated by wholly owned subsidiary AMCV Company Limited. View source→
Thai home retail outlet market entry
VIR is reporting that Siam Cement Group has opened its first SCG Home retail destination in Vietnam, launching a 5,500-square-metre store in Hanoi’s Long Bien district. View source→
Exchange rates
As of 7.30am this morning, the black market US dollar buy rate was VND 25,8,00 and the sell rate was VND 25,850, for a mid-market rate of VND 25,825, according to prices quoted by Ty Gia USD.
Meanwhile, the State Bank of Vietnam’s central exchange rate was set at VND 25,635, while the Google Finance mid-market rate stood at VND 26,011.
Stock market Wednesday
The VN-Index closed at 1,801.65, down 15.28 points or 0.84 percent, with a total trading value of VND 17,745.56 billion or US$673.46 million, and foreign traders net-selling US$40.34 million worth of equities on Thursday, according to the latest data from the Ho Chi Minh City Stock Exchange.
Yesterday’s news roundup
In today’s news: APAX leader prosecution recommendations, Construction sector labour shortages, Electric truck launched, Lithium recycling US firm, Cement exports, Car services startup US$500K pre-seed, Japan electronics manufacturing investment, VinSpeed Siemens contract, TL interview Bloomberg, Exchange rates, Stock market Tuesday, Yesterday’s news roundup, and more. View source→