This is a brief rundown of what is being reported today in Vietnam’s state-approved media and some others.
It compiles coverage from official outlets like Dan Tri, Tuoi Tre, and VN Express, highlighting the narratives currently shaping the country’s economic, financial, and business news landscape.
See yesterday’s news headlines →
New steel plant no orders
Dau Tu Kien Thuc is reporting that Hoa Phat Group is planning to start construction of a rail and special steel plant on 19 December, investing VND 10,000 billion (US$379.4 million) on an 18-hectare site with a designed capacity of 700,000 tonnes per year.
The article notes the company is planning to produce both rail steel and steel beams for wind power and high-rise construction, and is also targeting exports, but has not received any orders as yet.
Ed.’s notes: VinMetal is also building a new plant and is investing in steel maker Pomina. Market has been widely reported to be struggling – confusing decisions being made around, seems to be driven by promise of high-speed rail, but not entirely clear if/when this project might be approved. Monitoring.
New HSR contender
Dan Tri is reporting that Vietnam 3000, a company whose main business is food trading and small outsourced services such as report writing and PowerPoint design, has asked to join the North–South high-speed railway project under a public–private partnership model.
At a 27 November meeting with ministries, the firm said it could mobilise capital and bring in experts but could not explain its financial capacity, capital contribution or legal basis for fundraising.
Ed.’s notes: This has become a bit of a free-for-all. Realistically, its not clear any local firm has the technical capacity or the experience to execute a project of this magnitude. The focus really needs to be on which foreign firm will be guiding the project, if it is seriously going ahead, rather than the which local firms will participate.
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Digital dollarisation risk
Dau Tu Kien Thuc is reporting that experts raised concerns about digital dollarisation at a 28 November forum in Ho Chi Minh City, warning that stablecoin is creating new vulnerabilities for Vietnam’s financial system.
Experts from the Asian Development Bank and the Swiss State Secretariat for Economic Affairs emphasised the need for a cautious but proactive approach, with strict supervision of non-collateralised stablecoin and tighter monitoring of cross-border flows, the publication says.
Bad debt
Dau Tu Kien Thuc is reporting that new bad debt fell sharply in Q3, dropping about 60 percent from its Q1 peak, while banks have begun rebuilding provisioning buffers.
However, property-related credit risk remains the main pressure point, with real estate credit concentrations rising and bond issuance still weak, the publication says.
US$1 trillion coastal mega city
Dau Tu Kien Thuc is reporting that former politician Nguyen Si Dung, who sits on the Prime Minister’s Advisory Council, has said that Vietnam can build a sea-based megacity with a regional GDP of US$700 billion to US$1 trillion by 2050.
He identifies Can Gio as the strategic gateway for this model and cites Singapore, South Korea, Japan and Dubai as examples to follow.
Ed.’s notes: Noted – Dung on PM advisory council, thoughts/idea hold sway.
Gold market distortion view
Dau Tu Kien Thuc is reporting that the domestic–global gold price gap is structural and does not signal market distortion, but reflects the combined effects of regulatory management, administrative controls and investor psychology.
It adds that higher domestic prices are not only the result of import costs and taxes but also the policy choice to prioritise macroeconomic and exchange-rate stability over full liberalisation of the gold market.
Ed.’s notes: May speak to a misunderstanding of the concept of market distortion. Monitoring.
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China-Vietnam durian codes
Tuoi Tre is reporting that China has approved nearly 1,000 additional planting-area codes and packing facilities for Vietnam’s durian industry, following technical talks between Vietnam’s Ministry of Agriculture and Environment and China’s General Administration of Customs.
At the meeting, both sides also signed a protocol allowing fresh jackfruit exports to China, and Vietnam proposed 11 priority issues to expand agricultural trade.
Ed.’s notes: Caps off story re: widely reported breakdown in durian exports over testing delays – codes used for faster border processing, these were being unofficially rented out to exporters that didn’t have them, 17 arrested – more codes should resolve this.
Also soft power – impacts rural areas, local products = local perceptions/relationships.
Danang sand mines stalled
Nguoi Lao Dong is reporting that five sand mines in Da Nang, auctioned for more than VND 1,000 billion (US$37.96 million), remain stalled because winning bidders can’t secure exploration licences.
Danang authorities say a requirement in Circular 40/2025 obliges companies to install hydrological monitoring stations, model sediment flows and assess geological risks, a process they argue is unrealistic for small, fast-changing rivers in mountainous and midland areas.
The article also notes that the auctions took place amid construction-material shortages, with some sites receiving bids hundreds of times above their starting prices.
Ed.’s notes: Adds to challenges facing real estate sector.
IFC HCMC location
Nguoi Lao Dong is reporting that Ho Chi Minh City officials say the planned International Financial Centre is expected to be located on the sixth floor of the Sihub innovation building at 123 Truong Dinh, using a space of more than 1,400 square metres, though the location remains provisional.
The update was given during WISE HCMC+ 2025, where city authorities and Binance also signed a memorandum of understanding to support development of the Vietnam International Financial Centre.
Ed.’s notes: This frames the International Financial Centre as more of a hub-style operation akin to something like a trade and investment office, as opposed to a jurisdictional centre, like Hong Kong or Singapore, style set up.
This sounds a little more realistic. It would also fit with the announcement earlier in the week that the IFC would open in December.
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Huggies maker Vietnam expansion
VIR is reporting that US producer of consumer goods and personal care items, Kimberly-Clark is expanding its Vietnam operations with a 1.2-hectare land purchase that will increase production capacity by 40 per cent and support higher export volumes.
It notes half of Vietnam-made output is already shipped to 18 markets.
The company produces goods under well now brands including Huggies, Kleenex, and Kotex.
Oxford University Press MOU
Taiwan News is reporting that Oxford University Press has signed an MOU with iSmart Education and Oxbridge Education Group to expand international curriculum, qualifications and teacher-training programmes across Vietnam’s public schools.
The collaboration begins with a 2025–2027 pilot in Hanoi and aims to reach more than 20,000 students within five years.
Airbus fault impacts
Thanh Nien is reporting that Airbus has issued an urgent safety directive that affects 169 A320-family aircraft operating in Vietnam, requiring a mandatory software and hardware update to prevent flight-control data corruption linked to intense solar radiation.
Initial reports submitted to the Civil Aviation Authority of Vietnam show that 81 aircraft from Vietnam Airlines and Vietjet fall directly under the requirement. Both carriers have been ordered to update all jets before they are allowed to fly from 30 November (Vietnam time).
Rare earth miner structure change
Dan Tri is reporting that Vimico, the state-owned miner that controls Vietnam’s largest rare-earth deposit at Dong Pao in Lai Chau, has announced it may lose its public-company status because it no longer meets shareholder-structure requirements under the Securities Law.
The firm says fewer than 10 per cent of voting shares are held by at least 100 non-major shareholders, largely because parent group Vinacomin (TKV) owns more than 98 per cent of its equity. If this is not resolved by 1 January 2026, Vimico will file to delist as a public company.
Ed.’s notes: Lavreco reported earnings just a few thousand dollars in 2022.
TikTok & IFC
Dau Tu Kien Thuc is reporting that TikTok is seeking approval to establish three new companies inside Ho Chi Minh City’s International Financial Centre as it shifts key operations from cross-border provision to on-shore activity.
The plan covers a logistics service handling 1–2 billion orders a year, a domestic TikTok Payment service for 45 million users and a digital commerce unit processing more than US$10 billion in annual transactions.
Electricity imports
VnExpress is reporting that Vietnam plans to raise electricity imports from Laos and China to about 11,000 MW over the next five years, more than five times current levels, to meet rising demand, especially in the north.
Current imports total 2,150 MW, or 2.4 per cent of system capacity, but the adjusted Power Development Plan VIII sets a minimum of 8,000 MW from Laos and 3,000 MW from China using new 500 kV and 220 kV lines.
Imports will be capped below 10 per cent of total consumption to safeguard energy security.
Stock market performance Friday
the-shiv is reporting that the VN-Index closed at 1,690.99, up 6.67 points or 0.40 percent, with a total trading value of VND 23,745.25 billion or US$901.15 million, and foreign traders net-buying US$12.56 million worth of equities, Friday, according to the latest data from the Ho Chi Minh City Stock Exchange.
Exchange rates Friday
the-shiv is reporting that on November 28, in Vietnam, the black market US dollar buy rate was VND 27,650 and the sell rate was VND 27,730, a change of 20 and 20, respectively, for a mid-market rate of VND 27,690 (down 0.07 percent), according to Ty Gia USD.
Meanwhile, the State Bank of Vietnam’s central exchange rate was set at VND 25,155, while the Google Finance mid-market rate stood at VND 26,363.
Animal fodder and materials imports
the-shiv is reporting that Vietnam imported animal fodders and animal fodder materials to the tune of US$391 million in October, down 5.50 percent over September, according to preliminary data from Vietnam’s General Department of Customs.
Year to date, Vietnam had imported US$3,864 million worth of animal fodders and animal fodder materials by the end of October.
Imports from Australia
the-shiv is reporting that in October, Vietnam imported US$784 million worth of goods from Australia, up 51.19 percent over September, according to preliminary data from Vietnam’s General Department of Customs.
So far this year, Vietnam has imported US$5,997 million worth of goods from Australia.
Exports to Belgium
the-shiv is reporting that in October, Vietnam exported US$275 million worth of goods to Belgium, down 6.74 percent over September, according to preliminary data from Vietnam’s General Department of Customs.
So far this year, Vietnam has exported US$3,019 million worth of goods to Belgium.
Pharmaceutical products imports
the-shiv is reporting that Vietnam imported pharmaceutical products to the tune of US$350 million in October, down 15.56 percent over September, according to preliminary data from Vietnam’s General Department of Customs.
Year to date, Vietnam had imported US$3,561 million worth of pharmaceutical products by the end of October.
