This is a brief rundown of what is being reported today in Vietnam’s state-approved media 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’re operating a business or working in Vietnam and want to talk about it, reach out: mark.barnes@the-shiv.com
Facebook account theft ring shut down
VnExpress is reporting that Bac Ninh police have detained nine men for allegedly taking control of Facebook accounts and selling them for advertising.
The group allegedly targeted Facebook accounts belonging to European users and sold compromised accounts through Zalo and Telegram.
Police initially identified 64 accounts compromised between July 4 and 10 and seized 41 computer systems and 10 mobile phones. View source→
Minimum wage to rise from Jan 1
VnExpress is reporting that the National Wage Council has proposed raising regional minimum wages by an average 7.8 percent from January 1, 2027.
Monthly minimum wages would rise to VND 5.7 million (US$216) in Region I and VND 5.08 million (US$193) in Region II.
Region III would increase to VND 4.45 million (US$169), while Region IV would rise to VND 4.04 million (US$153). View source→
Nuclear power project reorganisation proposed
Tien Phong is reporting that the Ministry of Finance has proposed splitting the Ninh Thuan nuclear power project into three independent projects.
Vietnam Electricity would prepare the Ninh Thuan 1 project, Petrovietnam the Ninh Thuan 2 project, and Khanh Hoa authorities the resettlement component. View source→
Ed.’s notes: Doesn’t make clear what problem this is intended to solve.
No jail time for cash proposal
Dan Tri is reporting that the Ministry of Public Security has proposed allowing people sentenced to up to five years’ imprisonment to receive suspended sentences if they pay a fee.
Courts would consider offenders’ personal circumstances and mitigating factors, with successful applicants subject to a probation period of between one and two years. View source→
Retail fuel price hike
Znews is reporting that the government has raised retail fuel price limits, with E10 RON 95 gasoline increasing VND 550 (US$0.02) to VND 20,550 (US$0.78) per litre.
E5 RON 92 gasoline rose VND 630 (US$0.02) to VND 19,820 (US$0.75) per litre.
Diesel increased VND 1,580 (US$0.06) to VND 23,320 (US$0.89) per litre, despite a VND 1,500 (US$0.06) stabilisation fund subsidy. View source→
Deposit insurance payout limit increased
Vietnamnet is reporting that the State Bank of Vietnam has increased the maximum deposit insurance payout from VND 125 million (US$4,744) to VND 350 million (US$13,283).
The increase takes effect from July 13. View source→
US-VN trade negotiations in Washington
Bloomberg is reporting that the United States is pressing Vietnam to address non-tariff barriers, intellectual property violations and economic security issues as bilateral trade negotiations continue.
US Trade Representative Jamieson Greer said Vietnam must align with US export controls to receive American high-tech equipment.
Washington is also seeking tighter controls on Chinese goods routed through Vietnam, with the article noting the definition of transhipment under a threatened 40 percent tariff remains unresolved. View source→
Honda electric bike manufacturing VN
The Investor is reporting that Honda Motor plans to begin producing its UC3 electric motorcycle in Vietnam from September, shifting production from Thailand, according to Nikkei Asia.
Honda Vietnam General Director Sayaka Arai said production at the company’s Phu Tho plant would initially be limited.
Arai said consumer electrification was progressing faster than expected, with dealers reporting growing demand for electric two-wheelers amid higher fuel prices, the article says. View source→
Analysis VICEM restructuring
Cemnet is carrying analysis of Vietnam’s decision to restructure state-owned Vietnam Cement Industry Corporation without closing plants, noting that VICEM’s dual commercial and state-policy roles are seeing Vietnam preserve production capacity despite conditions that might prompt closures elsewhere. View source→
Ed.’s notes: Vietnam’s cement overproduction was cited by the USTR in its investigation into overproduction in Vietnam.
Vietnam Airlines-Cebu Pacific deal
Aero Time is reporting that Philippine low-cost carrier Cebu Pacific has wet-leased an Airbus A320neo to Vietnam Airlines for domestic operations from July 15 to September 7.
The aircraft will be based in Ho Chi Minh City and operated by Cebu Pacific pilots and cabin crew. View source→
Global Times US-VN trade negotiations opinion
The Global Times is carrying an opinion piece responding to US demands in ongoing US-Vietnam trade negotiations.
Specifically, it argues US demands that Vietnam align with American export controls are intended to draw Hanoi into Washington’s technology restrictions against China.
It goes on to point out that Vietnam’s manufacturing sector depends heavily on Chinese inputs and that accepting US demands could constrain Hanoi’s economic and industrial policy flexibility.
The commentary says Vietnam should avoid choosing sides, while noting China has threatened countermeasures against agreements it considers harmful to Chinese interests. View source→
Ed.’s notes: GT opinion is always a fun read.
Stock market Thursday
The VN-Index closed at 1,804.24, up 22.12 points or 1.24 percent, with a total trading value of VND 19,288.00 billion or US$731.99 million, and foreign traders net-selling US$0.99 million worth of equities, Thursday, according to the latest data from the Ho Chi Minh City Stock Exchange. Read the full article →
Exchange rates Thursday
On July 16, in Vietnam, the black market US dollar buy rate was VND 26,400, and the sell rate was VND 26,420, unchanged from yesterday, according to prices quoted by Ty Gia USD. Read the full article →
Yesterday’s news roundup
In yesterday’s Vietnam news: Research prosecution exemption, Fuel retailer losses, Semiconductor degree requirements, Eurocham BCI, Government bond auction Wednesday, Australia tourist visa problems, Coffee chain US$8m fundraising, Pharma sector outlook, Foreign stock selling analysis, Stock market Wednesday, Exchange rates Wednesday, Yesterday’s news roundup, and more. Read the full article →