In this week’s Vietnam News Roundup: VinFast posts Q2 revenue gains but wider losses, SBV deputy governor warns on inflation and credit, government launches a five-year crypto pilot, bond market steady with strong redemptions, dong strengthens officially but weak on black market, World Bank pegs 2025 GDP at 6.6%, and more.
In case you missed it…
Vietnam’s Economy in August 2025: Unpacked
On Saturday, the National Statistics Office (NSO) released its August economic update. This article breaks down the key data points and policy factors that shaped Vietnam’s economic landscape in August 2025. Read More »
Automotive news
Vietnam’s VinFast sees losses widen despite revenue growth in Q2 2025
VinFast Auto reported revenues of VND 16.61 trillion (US$663 million) for the second quarter of 2025, up 91.6 percent year-on-year and 1.9 percent from the previous quarter, driven by steady electric vehicle sales and growth in overseas markets.
However, the company also posted a gross loss of VND 6.82 trillion (US$272.4 million) and a net loss of VND 20.34 trillion (US$812 million).
This was 8.4 percent worse than a year earlier and 15 percent higher than the prior quarter, according to the firm’s Unaudited Second Quarter 2025 Financial Results → view source.
See also: Media Relations in Vietnam: Lessons from VinFast
Banking and finance news
Vietnam central bank deputy governor offers rare, frank warning on policy direction
State Bank of Vietnam (SBV) Deputy Governor Doan Thai Son said at a government meeting, that core inflation rising above 3 percent should be seen as a warning sign, the Government Electronic Newspaper has reported → view source.
He goes on to cite credit growth and price management as creating inflationary pressures that the SBV is struggling to manage.
He also stresses the need for pre-emptive action, noting that waiting until inflation crosses critical thresholds makes control much more costly.
See also: Vietnam’s Credit Growth Limits vs Targets: There’s a Difference. It Matters.
Vietnam announces five-year pilot to regulate crypto assets
Vietnam has introduced its first crypto rules with a five-year pilot under Resolution No. 05/2025/NQ-CP, signed on 9 September by Deputy PM Ho Duc Phoc.
Only Vietnamese firms with VND 10,000 billion (US$384.6 million) in capital may run licensed platforms, with foreign stakes capped at 49 percent. Issuances are restricted to foreign investors, while all trading must go through licensed providers in Vietnamese Dong.
The pilot, overseen by the Ministry of Finance, will allow up to five licensed providers and apply securities tax rules until a specific regime is set.
See also: Why Cryptocurrency in Vietnam Is So Popular: Unpacked
Vietnam corporate bond market steady in August
Vietnam’s corporate bond market remained active in August, with 37 private placements totalling VND 39,357 billion (US$1.51 billion) and 6 public offerings worth VND 6,332 billion (US$243 million), according to the Vietnam Bond Market Association (VBMA) → view source.
Year-to-date, private placements stood at VND 311,725 billion (US$12 billion) and public offerings at VND 47,785 billion (US$1.84 billion).
Bond redemptions surged to VND 27,032 billion (US$1.04 billion), up 70 percent from a year earlier.
See also: Vietnam Financial Sector 2025: Rankings, Products & Future
Local currency strengthens against the greenback
The State Bank of Vietnam (SBV) allowed the local currency to strengthen further against the greenback this week, with the central exchange rate ending Thursday at VND 25,221, 27 dong lower than the same time last week.
This puts the currency down 3.61 percent since the start of the year.
Conversely, on the black market, the dong weakened by 77 points, the mid-market rate shifting from 26,850 to 26,900, suggesting the dong is still being overvalued through official channels.
The SBV, however, continued to pump money into the economy.
There were just under US$5.68 billion worth of reverse repos outstanding as of the close of business on September 11. This was down from US$6.6 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
World Bank September 2025 economic update, GDP growth forecast 6.6 percent
The World Bank has projected Vietnam’s GDP growth to reach 6.6 percent in 2025.
It has, however, warned that short-term gains from export frontloading mask structural weaknesses in consumption, finance, fiscal reliance, and tech talent, according to its September 2025 Taking Stock Report → view source.
Some key points in the report include:
- Trade risks: Exports surged 28.3 percent to the U.S. on tariff frontloading, but a reversal is expected in H2; 26 percent of GDP depends on U.S. demand, with textiles, footwear, and wood products most exposed.
- Domestic demand: Wages rose 6.8 percent in real terms, yet private consumption slipped to 53 percent of GDP, below the East Asian median; high precautionary savings limit retail and services growth.
- Financial stability: Credit growth hit 18.1 percent (annualised), above SBV’s 16 percent target, concentrated in real estate; adjusted non-performing loans stood at 6.6 percent at the end of 2024 with banks’ reserve buffers having halved over the preceding three years.
See also: Vietnam’s Economy 2025: GDP, FDI & Key Industries Overview
Company news
Vietnam’s Vingroup announces lawsuits against 68 organisations and individuals
Vingroup announced on 8 September 2025 that it intends to take legal action against 68 organisations and individuals accused of spreading false information online about the group, according to a statement on its website → view source.
Key details:
- Targets of lawsuit: Vingroup said the defendants are owners of social media accounts on TikTok, Facebook, YouTube and other platforms.
- False claims: According to Vingroup, posts alleged the group faced bankruptcy with debt of VND 800,000 trillion (US$30.77 trillion). The company responded that “the total financial debt is only about VND283,000 billion, the debt-to-equity ratio is only about 1.8 times”.
- Product misinformation: Vingroup claimed some accounts labelled VinFast vehicles as Chinese goods “disguised” as Vietnamese. The group said VinFast has achieved a localisation rate of 60 percent, with plans to increase to 80 percent.
- Leadership fabrications: The company said false posts targeted chairman Pham Nhat Vuong and suggested mass staff resignations.
- Legal issues distortion: Vingroup alleged that fabricated narratives linked the group to state policy manipulation.
Vingroup said it has gathered evidence, initiated civil lawsuits, and is working with domestic and international lawyers to pursue cases abroad.
Notices have also been sent to embassies in Vietnam and to foreign embassies where account holders reside.
This is the latest in a series of moves by the organisation to stifle discussion of its operations.
In 2021, it referred a YouTuber to the police for comments highlighting problems with a VinFast vehicle, with a similar incident reported last year.
See also: Media Relations in Vietnam: Lessons from VinFast
Stock market news
VN-Index falls 38.54 points, foreign traders continue to exit
Over the last five trading sessions to the close of business on September 11, foreign investors net-sold US$201.2 million worth of HCMC Stock Exchange (HoSE) stocks.
This brings the total net sold by foreign traders for the year-to-date to just over US$3.1 billion.
The VN-Index closed Thursday at 1,657.75 points, down 38.54 points since last Thursday.
See also: Explainer: What’s Driving Vietnam’s Stock Market Rally?
Foreign trader activity, last five trading days
| Buy | Sell | Change | ||||
| Date | VND | US$ | VND | US$ | VND | US$ |
| 5/9 | 3,107 | $117.68 | 4,489 | $170.02 | -1,382 | -$52.34 |
| 8/9 | 5,722 | $216.72 | 4,757 | $180.17 | 965 | $36.55 |
| 9/9 | 3,344 | $126.66 | 4,226 | $160.06 | -882 | -$33.41 |
| 10/9 | 1,870 | $70.83 | 4,803 | $181.92 | -2,933 | -$111.09 |
| 11/9 | 3,484 | $131.96 | 4,565 | $172.90 | -1,081 | -$40.94 |
| Total | 17,527 | $663.84 | 22,840 | $865.07 | -5,313 | -$201.23 |
VND = billions; US$ = millions; source: HSX
Tourism news
Vietnam records 1.68 million foreign visitors in August
Vietnam welcomed 1,684,972 international arrivals in August, an increase of 7.8 percent from July, bringing the year-to-date total to 13.91 million, 16.5 percent higher than the same period in 2024, according to the latest data from Vietnam’s National Statistics Office.
Arrivals from Asia reached 1.36 million, led by China with 414,247 visitors, up 5.9 percent month-on-month and 34.9 percent higher year-to-date, and Korea with 384,167 visitors, up 21.2 percent compared with July, though still 8.8 percent lower year-to-date.
See also: Vietnam’s Tourism Industry
The week ahead
There are a handful of events coming up this week. For more information, see: Doing Business in Vietnam: Events Directory 2025.