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 in Vietnam and want to talk about it, reach out: mark.barnes@the-shiv.com
Deputy PM calls for lower interest rates
Nha Dau Tu is reporting that Deputy Prime Minister Nguyen Van Thang has called for lending rates to be reduced to the lowest possible levels to support businesses and the economy.
Thang urged banks to narrow the gap between deposit and lending rates, with the State Bank of Vietnam providing additional support to lower borrowing costs. View source→
Ed.’s notes: Inflation hit 5.46 percent in April – cutting interest rates likely to exacerbate inflationary pressure.
Petrolimex statement publication inconsistencies
Nha Dau Tu is reporting that there was a four-day gap between when Petrolimex’s Q1 financial statements were signed and when they were made public.
The article questions whether this was fair for investors.
LNG power plant offtake capped at 75 percent
Tuoi Tre is reporting that the Ministry of Industry and Trade intends to maintain its 75 percent purchase guarantee for liquefied natural gas power projects despite investor proposals to raise it to 85–95 percent.
Investors said a higher guaranteed output is needed to secure financing.
Officials, however, said that higher levels risk “over contract” situations, increasing system costs and electricity prices if contracted output exceeds actual demand. View source→
Ed.’s notes: Lower minimum = higher risk = higher cost.
Be riding-hailing increases fares
Thanh Nien is reporting that ride-hailing platform Be will raise fares by 2 to 11 percent, marking its first price increase in five years.
Be said the adjustment aims to support driver income and maintain service quality amid rising fuel and living costs. View source→
Intel relocation Costa Rica to VN
The Investor is reporting that Intel is looking to shift part of its data centre chip production from Costa Rica to its Vietnam facility at Saigon Hi-Tech Park, according to the park’s management board.
The facility, with nearly US$4.12 billion in investment, is projected to generate US$14.6 billion in exports in 2026, the article says. View source→
Fines unemployment insurance payment delays
Dau Tu Kien Thuc is reporting that the Ministry of Home Affairs has proposed fines of up to VND 75 million (US$2,845) for late unemployment insurance payments.
Late payment fines are set at 12–15 percent of unpaid amounts, capped at VND 75 million (US$2,845), with additional daily charges of 0.03 percent. View source→
Solar power FiTs too low
VnExpress is reporting that industry representatives said low feed-in prices for rooftop solar excess power are discouraging investment in Vietnam.
Officials said policies are under review, including higher selling limits and potential incentives, to support rooftop solar expansion. View source→
Fixed contract level electricity idea rejected
Dau Tu Kien Thuc is reporting that the Ministry of Industry and Trade rejected Vietnam Electricity’s proposal to fix contract output levels in power purchase agreements.
The ministry said it would not adopt the proposal, maintaining that contracts should be commercially negotiated rather than administratively set. View source→
Pushback automotive sector removal conditional business lines
VnExpress is reporting that automakers Thaco, VinFast, and TC Group have urged authorities to keep the automobile sector classified as a conditional business line.
Thaco said regulatory conditions ensure product quality, safety, and long-term responsibility for vehicles throughout their lifecycle.
VinFast said removing conditions risks allowing underqualified firms to enter the market, potentially harming consumers, given the complexity and value of automobiles.
The Vietnam Chamber of Commerce and Industry, however, said conditions raise costs and limit competition, suggesting technical standards and post-market regulation were better management tools instead. View source→
Stock market Tuesday
The VN-Index closed at 1,874.85, up 20.79 points or 1.12 percent, with a total trading value of VND 22,355.04 billion or US$848.39 million, and foreign traders net-selling US$37.69 million worth of equities, Tuesday, according to the latest data from the Ho Chi Minh City Stock Exchange. Read the full article →
Exchange rates Tuesday
On May 5, in Vietnam, the black market US dollar buy rate was VND 26,620, and the sell rate was VND 26,660, a change of 50 and 60, respectively, for a mid-market rate of VND 26,640 (down 0.21 percent), according to prices quoted by Ty Gia USD. Read the full article →
Vietnam news roundup Tuesday
In today’s Vietnam news: Binh Son Refinery profits, PV Oil profits, Petrolimex Q1 performance, Tuna exports, Carbon credit issuance, GS TL to visit Sri Lanka, GS TL to visit India, Antidumping petition US air compressors, Moody’s upgrade Vietnam outlook, Fertiliser firm profits jump, VNA op-ed IP protection in Vietnam, Vietnam’s USTR “Priority Foreign Country” Designation: Unpacked, Stock market yesterday, and more. Read the full article →