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Tag: hanoi

  • Techcombank Hanoi International Marathon Injects Nearly $14M into Capital Economy

    Techcombank Hanoi International Marathon Injects Nearly $14M into Capital Economy

    The Techcombank Hanoi International Marathon generated 13.7 million dollars for Hanoi’s local economy during its 2025 race, according to event organiser Sunrise Events Vietnam.

    More than 13,000 runners from 55 countries and territories joined the fourth edition, almost doubling participation from the 7,000 registered at the inaugural 2022 race. Visiting participants and traveling supporters drove direct receipts across hotels, dining venues, transport networks, and retail outlets across the capital.

    Tourist Spending Beyond Race Day

    Organisers built the 42-kilometer course to pass 37 landmarks and historical sites, including St. Joseph’s Cathedral. The route funnels foot traffic through central commercial districts, encouraging traveling runners to extend their stays for leisure and shopping.

    Domestic and international visitors traveling for mass-participation athletic events spend substantially more than standard leisure travelers on local services. Extended stays generate ancillary business for neighborhood restaurants, street vendors, and transport providers outside typical tour-bus corridors.

    Digital Guidance And Brand Sponsorships

    Sunrise Events Vietnam rolled out SEV RunConcierge for the event cycle, an artificial intelligence digital assistant built on the Neurun platform. The tool provides racecourse navigation alongside curated directories for Hanoi dining and cultural destinations.

    Commercial sponsors have linked merchandising directly to race turnout. German sportswear group Adidas signed on as Official Apparel Sponsor for the upcoming fifth edition, providing official race kits for participants and anchoring brand visibility across the event.

    Regional Race Economics And Commercial Scale

    Major municipal marathons across Southeast Asia, from Singapore to Bangkok, have turned into commercial platforms for retail brands and hospitality operators looking to capture affluent fitness consumers. Hanoi’s fast-expanding participant roster mirrors this shift, pulling private banking sponsors, international athletic brands, and local service providers into a single revenue ecosystem.

    For city administrators and local operators, the commercial risk rests on logistics management and road closures that can disrupt regular weekend trading. When managed effectively, the concentrated influx of out-of-town runners delivers high-density weekend revenue that traditional tourism marketing campaigns rarely match.

    Five Years Of Event Expansion

    The marathon launched in 2022 with 7,000 participants as Vietnam reopened international travel and public events. Registration expanded each subsequent year, reaching 13,000 in 2025 as inbound flight connectivity recovered across East Asia and Southeast Asia.

    Registration for the fifth edition targets more than 14,000 competitors across the race weekend scheduled for Oct. 2 to 4, 2026.

  • Hanoi Grade A Towers Add Retail Floors as Office Pipeline Hits 495,000 Sq M

    Hanoi Grade A Towers Add Retail Floors as Office Pipeline Hits 495,000 Sq M

    Hanoi commercial developers are allocating ground floors and podium levels to retail tenancies to protect leasing rates ahead of 495,000 square metres of new Grade A office supply entering the market by 2028.

    Eighteen office projects, concentrated heavily in Hanoi’s western business district, are introducing dedicated retail, dining and wellness hubs to compete for multinational tenants.

    The Starlake Model and Layout Shifts

    Parc Hanoi, a Grade A office project in the Starlake township, has dedicated its entire ground floor to consumer retail and dining. The developer placed a wellness centre, meeting suites and open event spaces across Level 2, pairing physical workspace with consumer services in a bid to secure corporate leases.

    The push reflects shifts in corporate occupier demands across Southeast Asia. A CBRE occupier survey showed 92 per cent of corporate respondents ranked collaborative zones and lifestyle amenities as critical to employee retention and productivity, while 64 per cent prioritized green spaces and natural ventilation.

    Regional Blueprints in Singapore

    Hanoi landlords are replicating models tested in Singapore, where mixed-use office towers use food and beverage to generate revenue outside core business hours. The PLUS tower in Raffles Place runs two floors of retail, gyms and spas underneath prime office suites.

    Marina One in Singapore operates 14,000 square metres of commercial floor plate across its retail podium, The Heart. That space combines supermarkets, gyms and food operators that draw foot traffic through the weekend, ensuring seven-day tenant revenue rather than relying purely on weekday office workers.

    Yield Risks for Commercial Landlords

    Integrating retail into Grade A office towers shifts the commercial risk profile for developers. Office leases in Hanoi typically run on fixed three-to-five-year commercial terms, whereas food and lifestyle tenants require lower base rents, revenue-share structures and higher capital outlays for exhaust, plumbing and grease traps.

    Landlords that misjudge the mix face dead ground-floor space that damages the building’s corporate positioning. Success depends on securing anchor food and convenience brands that turn daily office footfall into steady cash flow without crowding corporate lobbies.

    Supply Pipeline Builds in Western Hanoi

    The developer push comes after five years of decentralized expansion across Hanoi, where western districts drew corporate tenants away from the central Hoan Kiem district. The western submarket now accounts for the largest share of modern floor space under construction in the city.

    Developers will deliver the bulk of the 495,000 square metres across western Hanoi over the next 24 months. Leasing teams are tracking whether podium retail commitments can hold Grade A effective rents steady as all 18 towers open for handover before the end of 2028.

  • Vietnam Fuel Retailers Raise RON95 Gasoline to VND27,080 per Liter

    Vietnam Fuel Retailers Raise RON95 Gasoline to VND27,080 per Liter

    Vietnam raised retail fuel prices on Thursday afternoon, pushing the cost of popular RON95 gasoline up 5.67 per cent to VND27,080 ($1.04) per liter.

    The price adjustment by the Ministry of Industry and Trade and the Ministry of Finance also lifted E5 RON92 biofuel by 5.01 per cent to VND26,390 per liter.

    Diesel gained 1.84 per cent to settle at VND30,490 per liter, according to the joint ministerial pricing schedule.

    Global Market Pressures on Import Costs

    State regulators linked the domestic price adjustments to shifting international crude benchmarks and regional refined petroleum costs. Global RON95 gasoline traded up 0.7 per cent to $147.2 per barrel over the pricing window, while diesel refined products dropped 5.1 per cent to $173.3 per barrel.

    Geopolitical turbulence in the Middle East drove crude market volatility. Market pricing absorbed Iranian statements outlining conditions for resuming diplomatic talks with the United States, alongside escalating regional friction involving Houthi forces and Saudi Arabia.

    Refined fuel imports into Southeast Asian distribution networks reacted immediately to these shifts. Vietnam remains structurally dependent on imported refined fuels and raw petroleum components to cover domestic refinery shortfalls.

    Operating Costs for Retailers and Transport Fleets

    Higher fuel expenses flow directly into delivery and retail operating margins across Hanoi and Ho Chi Minh City. Last-mile motorcycle couriers, cold-chain trucks, and regional distribution networks face immediate cost increases as transport overhead expands.

    Fleet operators typically attempt to pass fuel surcharges along to commercial shippers. In a competitive retail consumer market where household budgets face food and energy inflation, absorbable price headroom remains narrow.

    Urban convenience store operators and supermarket chains must balance logistics surcharges against consumer basket sensitivity. Distribution networks that expanded fleet investments earlier in the year face higher baseline operational expenses this quarter.

    Supply Pressures and Pricing Cycles

    Vietnam regulates domestic pump prices through coordinated weekly reviews to align state-guided ceilings with Singapore market benchmarks. Prior to this adjustment, domestic fuel levels tracked lower than several neighboring Southeast Asian markets despite rising crude import costs.

    Global energy disruptions have sustained price pressure across international distribution channels throughout 2026. Domestic supply lines rely on continuous equilibrium between state-regulated retail margins and global cargo procurement pricing to prevent inventory drawdowns at independent filling stations.

    Regional power and industrial demand continue to absorb energy supplies across the wider ASEAN corridor, keeping refined fuel crack spreads firm. The next joint pricing determination from the Ministry of Industry and Trade and the Ministry of Finance will benchmark import costs entering October.

  • Vietnam and US Near Deal on Reciprocal Trade Agreement

    Vietnam and US Near Deal on Reciprocal Trade Agreement

    Vietnam and the United States have reached the final stage of negotiations on a reciprocal trade agreement following high-level talks in New York on Monday morning.

    US Trade Representative Ambassador Jamieson Greer confirmed that bilateral negotiating teams have made significant progress and are very close to reaching a final outcome.

    High-Level Talks in New York

    Vietnam’s Party General Secretary and President To Lam met Greer during his visit to attend the 81st Session of the UN General Assembly, affirming Vietnam’s commitment to advance bilateral ties with President Donald Trump’s administration.

    Lam stated that trade and investment remain a central pillar of bilateral relations. Vietnam has increased its purchases of American goods in recent years to address trade imbalances, generate employment, and support industrial supply chains in both nations.

    Addressing Section 301 and Market Access

    Greer credited Vietnamese officials for actively working toward trade parity. Once concluded and ratified, the reciprocal trade deal will establish enforceable terms covering market access, tariff structures, and bilateral purchasing commitments.

    A critical point on the table remains the status of United States trade inquiries. Lam urged American negotiators to adopt a comprehensive stance on unresolved disputes, particularly trade investigations launched under Section 301 of the United States Trade Act of 1974.

    Supply Chain Realignment Across Southeast Asia

    For consumer brands and contract manufacturers across Southeast Asia, a finalized trade pact provides long-sought policy certainty. Sourcing managers shifted substantial electronics, apparel, and footwear production to Vietnamese industrial hubs over the past decade, creating large bilateral trade surpluses that drew regulatory scrutiny in Washington.

    Securing a reciprocal pact reduces tariff risks for export manufacturers in northern and southern Vietnam. It also creates clearer pathways for United States agricultural, energy, and machinery exporters looking to expand distribution into fast-growing consumer markets in Ho Chi Minh City and Hanoi.

    Next Steps on Agreement Timelines

    The bilateral economic dialogue builds on several years of diplomatic upgrades between Hanoi and Washington. Previous rounds focused on currency practices, timber sourcing reviews, and customs compliance.

    Negotiating teams from both countries are working through the remaining text of the agreement ahead of formal legal scrubbing. The final outcome hinges on settling the scope of the Section 301 trade provisions before leaders present the deal for executive signing.

  • Vietnam Enters Global Top 10 for Property Transparency Gains

    Vietnam Enters Global Top 10 for Property Transparency Gains

    Vietnam ranked among the world’s ten most improved real estate markets for transparency between 2024 and 2026, according to JLL’s latest global transparency index. The country placed 50th among 88 evaluated territories with a composite transparency score of 3.15, keeping its position in the semi-transparent tier.

    Asia-Pacific led global transparency advances over the two-year cycle, claiming five of the top ten improvement spots alongside India, South Korea, Australia and Thailand. Poland, Qatar, Saudi Arabia, Dubai and Abu Dhabi completed the global top ten list. Improving market clarity helped direct cross-border property transactions across the region hit record levels during the past 12 months.

    Regulatory Overhaul Drives Commercial Clarity

    Vietnam’s upward trajectory follows the implementation of overhauled legal frameworks governing land, housing and real estate business that took effect in 2024. The legislative changes tightened market conduct by requiring property transactions to clear through formal banking channels and mandating verifiable transaction trails.

    Valuation practices also faced stricter scrutiny under the revised Law on Price. The rules require certified valuation professionals and clear audit trails for commercial asset pricing, replacing informal assessment methods that previously clouded asset underwriting.

    Administrative reforms accelerated in 2026 with Decree 357, which regulates the construction, management and operation of nationwide housing and property information systems. The mandate establishes a formal framework to compile comprehensive transaction registries into a single repository by the end of 2026.

    Valuation Gaps and Institutional Friction

    Data fragmentation continues to impose measurable transaction costs on cross-border capital deploying into Vietnamese commercial real estate. Valuation accuracy across semi-transparent markets sits at roughly 70 per cent, with transaction assessments taking up to 20 days to complete.

    Highly transparent markets operate under an entirely different speed and precision profile. In jurisdictions where asset registries and lease disclosures are open to the public, valuation accuracy reaches 90 per cent and execution cycles take five to ten days.

    Narrowing this performance gap requires completing digital land registries, setting up a unified national title database and enforcing international valuation benchmarks across domestic institutions. Institutional investors also require deeper coverage of commercial debt markets and broader adoption of certified green building standards before raising core fund allocations.

    Regional Standing and Capital Flows

    Southeast Asian peers continue to hold varying positions along the transparency scale. Singapore remains the regional benchmark with a top-tier score of 1.9, followed by Thailand at 2.48, Malaysia at 2.56, Indonesia at 2.74 and the Philippines at 2.94.

    Vietnam’s steady ascent from a low-transparency classification before 2020 reflects deliberate structural repositioning. The initial catalyst emerged in 2016 when the government entered the Trans-Pacific Partnership negotiations and committed to building a centralized real estate database.

    Capital allocations have responded directly to the institutional cleanup. Registered foreign direct investment in Vietnam totaled 38.1 billion dollars in the first seven months of 2026, matching full-year tallies from previous cycles and marking a ten-year peak in inbound commitments.

    The fact that Vietnam is ranked among the global top 10 markets with the strongest improvements in transparency is the result of a long and sustained process.

    Next Benchmarks for Market Infrastructure

    For institutional retailers, mall developers and logistics operators, transparent title registries reduce the legal drag that historically stalled greenfield site acquisition and store rollout schedules. Better asset pricing data allows retail landlords to structure verifiable commercial leases and debt facilities without relying on excessive risk discounts.

    The principal operational test now sits with local municipal governments responsible for digitizing cadastral archives ahead of the December 2026 national database deadline. Investors will track whether commercial credit exposure data and listed property company disclosures meet international transparency standards during the upcoming reporting period.

  • US Dollar Dips to VND26,200 as State Bank of Vietnam Sets Record Rate

    US Dollar Dips to VND26,200 as State Bank of Vietnam Sets Record Rate

    Vietcombank trimmed its selling rate for the US dollar by 0.02 percent to VND26,200 on Friday, easing pressure on commercial foreign exchange counters across Vietnam.

    The State Bank of Vietnam lifted its daily central reference rate by 0.02 percent to a fresh peak of VND25,637. That adjustment set the official trading band for commercial lenders while unofficial street trade moved in the opposite direction.

    Divergence Between Official Banks and Street Trade

    Unofficial money changers pushed the greenback up by 0.23 percent to trade near VND25,880. The gap left street desks pricing dollars below the headline counters at major state lenders, reversing the usual premium seen during periods of sharp currency volatility.

    Trading desks in Ho Chi Minh City and Hanoi handled the adjustments without disruption to trade settlement. Commercial importers purchasing intermediate goods face stable landed costs at these levels, though the high central baseline keeps financing charges elevated across foreign currency credit lines.

    Regional Pressures and Central Bank Policy

    Currency desks across Southeast Asia monitored broader central bank actions as policymakers continued tightening cycles to curb imported inflation. The Bank of Japan raised its benchmark rate to 1.25 percent, marking a 31-year peak for Japanese borrowing costs.

    That policy tightening softened the yen by 0.5 percent to 156.75 per dollar, even as Tokyo’s currency retained a month-to-date gain of nearly 2 percent. A fluctuating yen shifts sourcing calculations for Vietnamese consumer electronics assemblers and industrial component suppliers that invoice contracts in Japanese currency.

    Global Dollar Index Softens Against Major Pairs

    International foreign exchange trading saw the broader US dollar index slide 0.1 percent to 100.1900. The slight retreat gave Asian central banks room to adjust baseline pegs without triggering sharp outflows from local debt markets.

    European currencies notched modest gains during the session. The British pound strengthened 0.1 percent to $1.3374 while the euro rose by the same margin to trade at $1.1491, offering mild relief to Vietnamese apparel and footwear exporters booking revenue from European retail orders.

    Operational Risks for Importers and Retailers

    Consumer goods distributors in Vietnam operate on tight margins where small exchange fluctuations determine quarterly profitability. Sustained rates near the VND26,000 threshold force brand owners to choose between absorbing currency conversion losses or raising shelf prices across imported grocery, cosmetics and packaged foods.

    Inventory planners heading into the final quarter will track the State Bank of Vietnam’s daily fixings against commercial bank ceilings. The immediate figure to watch is whether commercial selling rates stay anchored near VND26,200 as global central banks complete their latest policy reviews.

  • Vietnam Weighs First Sovereign Dollar Bond Sale Since 2014

    Vietnam Weighs First Sovereign Dollar Bond Sale Since 2014

    Vietnam’s finance ministry is in talks with international investment banks to issue its first sovereign dollar bond in over a decade. Proposals on the table include a 10-year note raising between $500 million and $1 billion, carrying an estimated coupon of around 7 per cent.

    Hanoi plans to channel the proceeds into ports, transport corridors and industrial infrastructure to support an official target of at least 10 per cent annual economic expansion through 2030. Officials are weighing borrowing costs against elevated global yields before making a formal commitment.

    Bank Proposals and Pricing Pressures

    One foreign lender pitched a $1 billion 10-year dollar bond during discussions in Hanoi. Another bank recommended a flexible issue size starting at $500 million at roughly a 7 per cent coupon, reflecting current international borrowing benchmarks.

    Domestic debt issuance has reached over $9 billion so far this year. While the total volume matches last year’s pace, the average local 10-year yield climbed to 4.2 per cent from 3.1 per cent, raising the price tag of funding public works purely through local auctions.

    Corporate Borrowing Clears the Path

    State planners have eased limits on external commercial debt while government ministries negotiate terms. The State Bank of Vietnam lifted the annual ceiling for private-sector offshore borrowing to $6.1 billion this year, up from $5.5 billion in 2025, and officials are already reviewing requests to push that threshold higher.

    Commercial borrowers have moved fast to secure offshore liquidity. VPBank closed a $1.44 billion syndicated foreign loan facility in June, while conglomerate Vingroup listed a $350 million five-year bond on the Vienna Stock Exchange in April at a 5.75 per cent coupon. Vingroup has also filed to sell 455 billion won, or about $338 million, in three-year notes yielding 8 per cent to institutional investors in South Korea.

    For supply chain operators and consumer goods distributors across the country, a sovereign benchmark establishes a clear pricing floor for long-term project debt. Without sovereign paper in circulation, corporate issuers face wider risk premiums when raising hard currency for distribution hubs, cold storage networks, and factory expansions.

    Relieving Domestic Lending Strains

    Local commercial banks have carried the load of infrastructure and industrial loans for years. Credit expansion in Vietnam has outstripped domestic deposit growth continuously since 2021, creating balance-sheet friction that constrains private business lending.

    Vietnam last accessed the offshore sovereign bond market in 2014, when it sold a $1 billion 10-year note with a 4.8 per cent coupon. The country has kept public debt low, at approximately 37 per cent of gross domestic product, but bilateral development loans from Germany and Japan signed earlier this year confirmed a shift toward tapping external balance sheets.

    The next signal will come from the finance ministry’s formal syndicate mandate, which will determine whether Hanoi proceeds with the $1 billion issuance before global debt markets close out the fiscal year.

  • Petrovietnam and KEPCO Speed up Talks on Ninh Thuan 2 Nuclear Project

    Petrovietnam and KEPCO Speed up Talks on Ninh Thuan 2 Nuclear Project

    Petrovietnam and South Korea’s Korea Electric Power Corp have accelerated negotiations to construct Vietnam’s Ninh Thuan 2 nuclear plant. Workers have already cleared 97.5 per cent of the site land.

    Chief Executive Le Manh Cuong met KEPCO President Kim Dong-cheol in Seoul on Tuesday. They met to advance technology, investment, and project financing frameworks for the commercial nuclear facility.

    Land Clearances and Financing Talks

    Hanoi assigned Petrovietnam to lead development of the Ninh Thuan 2 station to revive nuclear power generation. In July, the Ministry of Industry and Trade confirmed KEPCO as the primary foreign partner candidate following preliminary discussions with Vietnamese authorities.

    Site preparation in Ninh Thuan province is almost complete. Petrovietnam confirmed that remaining clearance operations will finish shortly. That clears a key requirement before commercial construction agreements can proceed.

    South Korean Reactor Push in Southeast Asia

    KEPCO presented its delivery of the Barakah nuclear power plant in the United Arab Emirates as an operational blueprint for Vietnam. The four-reactor Barakah complex represents Seoul’s main export reference. It gives KEPCO an edge in discussions over procurement models and long-term project debt financing.

    Choosing KEPCO creates a deliberate split in Vietnam’s nuclear procurement program. Hanoi previously designated Russia’s state atomic agency Rosatom to develop the separate Ninh Thuan 1 project. The strategy distributes technological reliance across competing nuclear suppliers rather than committing to a single foreign vendor.

    Power Demand and Grid Readiness

    Vietnam shelved nuclear power planning in 2016 because of cost constraints and fiscal discipline. Rising baseload electricity demand from industrial clusters has forced trade officials to bring atomic power back into the long-term national power development master plan.

    Factories and industrial operators in Vietnam face ongoing grid capacity constraints as export manufacturing expands. High-capacity nuclear baseload addresses supply reliability. However, commercial terms and safety licensing still require bilateral government approvals.

    Next, Hanoi and Seoul will run financial structuring reviews while Petrovietnam finishes the final 2.5 per cent of site clearance work.

  • China’s Meiyijia Opens Two Ohmee Stores at Petrolimex Stations in Hanoi

    China’s Meiyijia Opens Two Ohmee Stores at Petrolimex Stations in Hanoi

    Chinese convenience chain Meiyijia has opened two Ohmee Express stores at Petrolimex petrol stations in Hanoi following its entry into Vietnam in April. The pilot tests a forecourt retail model in the chain’s first overseas market.

    The tie-up links China’s largest convenience operator with Vietnam’s dominant petroleum distributor. Meiyijia runs more than 40,000 stores in its domestic market.

    Pilot Sites on Hanoi Arteries

    Both outlets operate on Ngoc Hoi and Nguyen Quy Duc streets in Hanoi. They stock packaged food, drinks and daily necessities alongside standard fuel station services.

    Petrolimex deputy general director Nguyen Ngoc Tu said the partnership supports plans to convert traditional petrol stations into multi-service commercial hubs. The strategy responds to shifts in vehicle energy use and digital payments.

    Fuel Forecourt Competition in Vietnam

    Forecourt retailing gives convenience operators a direct way to bypass street-level real estate bottlenecks in Southeast Asia. Securing prime roadside retail space in Hanoi and Ho Chi Minh City carries steep rents and heavy competition from players like Circle K, WinMart+ and GS25. Partnering with a state-backed fuel network gives Meiyijia immediate roadside access and built-in vehicle traffic without negotiating individual retail leases.

    Customer conversion presents the main operational challenge. Petrol buyers in Vietnam make brief refuelling stops on motorbikes. Basket sizes stay modest unless the forecourt store offers quick food service or payment utilities that draw riders off their bikes.

    Cross-Border Expansion from Guangdong

    Meiyijia entered Vietnam in April under the Ohmee banner, selecting the country for its first international expansion. Founded in Guangdong in 1997, the company built its domestic network on a low-cost franchise model. It penetrated lower-tier Chinese cities before expanding into higher-density urban centres.

    Results from the two Hanoi pilot stores will determine whether Meiyijia and Petrolimex roll out the Ohmee Express format across the fuel distributor’s nationwide network of filling stations.

  • Former Bamboo Airways Chairman Barred from Leaving Vietnam over $1.7M Tax Debt

    Former Bamboo Airways Chairman Barred from Leaving Vietnam over $1.7M Tax Debt

    Vietnamese immigration authorities have barred former Bamboo Airways chairman Le Thai Sam from leaving the country over VND44.06 billion ($1.7 million) in unpaid corporate taxes.

    The restriction follows a formal request submitted on Sept. 3 by the tax department in Gia Lai province, where the airline accumulated the arrears. Officials confirmed the travel ban applies to Sam directly as the carrier’s beneficial owner.

    Under Vietnamese regulations, authorities define a beneficial owner as an individual who directly or indirectly controls at least 25 per cent of a company’s voting shares or charter capital. Provincial tax officers stated that the exit ban will remain in effect until Bamboo Airways settles the entire outstanding balance through the National Public Service Portal.

    Leadership Shifts and Ownership Transfers

    Sam joined the private carrier in 2022 and built up a controlling stake to become its largest individual shareholder. He took over as chairman from July 2023 to February 2024 before shifting to the role of standing vice chairman.

    A brief return to the chairmanship in August 2025 ended after about a month, when his investor consortium transferred the carrier back to property developer FLC Group. Sam stated at the time that the managerial and capital demands of running the airline had outstripped his group’s financial capacity, though he pledged to remain accountable for operations during the restructuring phase.

    Sam vacated the chairman role in mid-November 2025 while retaining his seat on the board of directors. He also remains general director and legal representative of Viet Bamboo Airways Cargo JSC and several related entities.

    Turbulence in Private Aviation

    Aviation operators across Southeast Asia continue to grapple with heavy debt loads and fleet restructuring following years of market volatility. Vietnamese tax regulators have increasingly turned to personal travel bans against corporate representatives to force prompt settlements on unpaid fiscal liabilities.

    FLC Group is working to stabilise Bamboo Airways’ domestic flight schedules as the carrier resolves legacy tax debts with provincial authorities.

  • Vingroup Deputy Chair Pham Thu Huong Enters Global Top 1,000 Wealthiest at $4.5B

    Vingroup Deputy Chair Pham Thu Huong Enters Global Top 1,000 Wealthiest at $4.5B

    Vingroup deputy chairwoman Pham Thu Huong entered the world’s 1,000 wealthiest people on Friday as her net worth climbed to US$4.5 billion. Shares in the Vietnamese conglomerate reached a record VND256,000 (US$9.82), adding nearly US$200 million to her personal fortune in a single trading day.

    The 57-year-old executive ranked 963rd on the Forbes real-time billionaire index after gaining 4.67 per cent in valuation during the session. She has climbed 443 positions since February, when she first joined the global ranking in 1,406th place. Huong now ranks as the second-richest woman in Southeast Asia, trailing only Indonesian data center operator DCI Indonesia co-founder Marina Budiman, who controls an estimated US$6 billion fortune.

    Record Conglomerate Rally

    Vingroup shares have advanced 51 per cent since the start of the year, expanding wealth across the group’s founding family. Pham Nhat Vuong, Huong’s husband and the chairman of Vingroup, expanded his net worth by 36 per cent over the same period to US$39.3 billion.

    Vuong reached 54th place on the global wealth table on Friday. His personal fortune increased by US$1.6 billion in 24 hours, making him one of the five biggest single-day wealth gainers worldwide.

    Southeast Asian Wealth Shifts

    Regional market trends tracked across Southeast Asia show Vietnam’s large diversified groups capturing substantial equity gains this year, outpacing broader regional indices. Other Vietnamese business figures on the global list include Vietjet Air chairwoman Nguyen Thi Phuong Thao, who ranked 1,099th with US$3.9 billion, alongside Vingroup leader Pham Thuy Hang.

    Trading desks in Hanoi will monitor whether Vingroup can defend its record share price above VND256,000 as third-quarter earnings disclosures approach.

  • Viettel Wins 240 MHz Spectrum to Enter Dominican Republic

    Viettel Wins 240 MHz Spectrum to Enter Dominican Republic

    Vietnam’s Viettel secured 240 MHz of spectrum in the Dominican Republic to deploy 4G and 5G networks across the Caribbean nation. The award expands the group’s overseas operations into an 11th foreign market after international revenue rose 23.9 per cent to USD 3.34 billion in 2025.

    Telecommunications regulator INDOTEL approved the license transfer under Resolution No. 073-2026 on August 19, 2026. The 20-year allocation covers frequencies across the 700 MHz, 2.3 GHz, and 3.6 GHz bands, combining low-band reach for remote regions with mid-band capacity for high-density mobile broadband.

    Terms of the Caribbean Concession

    Viettel Global, the international investment arm of the Hanoi-based group, won the airwaves in a competitive tender. The company is setting up a local operating business to construct the physical network and run consumer and enterprise digital services.

    Chairman and chief executive Tao Duc Thang said the group plans a long-term network build focused on modern infrastructure, with priority given to connecting underserved and rural communities across the country.

    Exporting the Southeast Asian Playbook

    The Caribbean venture follows an expansion strategy Viettel has used across Southeast Asia, Africa, and Latin America. The group operates across 10 overseas markets and holds the top mobile subscriber share in seven of them, sustaining nine straight years of double-digit international revenue growth.

    Viettel has 90 days from the August 19 resolution to finalize and sign the concession agreement with INDOTEL before breaking ground on network infrastructure.

  • Mixue Closes 89 Overseas Stores as First-Half Profit Drops 15%

    Mixue Closes 89 Overseas Stores as First-Half Profit Drops 15%

    Mixue cut its overseas footprint by 89 stores in the first half of 2026, driven by closures across core Southeast Asian markets Vietnam and Indonesia.

    Net profit fell 15 percent year on year to 2.32 billion yuan, even as total revenue edged up 2.3 percent to 15.2 billion yuan ($2.26 billion). Group filings show higher selling and distribution expenses ate directly into margins across its franchise network.

    Rising Distribution Costs Squeeze Margins

    The Henan-headquartered drinks giant operated 63,987 outlets globally by June 30, with 59,609 locations in mainland China. That leaves roughly 4,378 international stores, concentrated heavily in Southeast Asia where the brand sells budget soft-serve ice cream and milk tea.

    Mixue did not publish country-level closure totals for Vietnam or Indonesia. The company stated in its interim report that reducing store density improved individual unit quality and created a cleaner base for sustainable operations.

    Franchisee economics have tightened across the region. Rapid street-level expansion in major cities sparked cannibalisation between neighbouring outlets, forcing operators to absorb higher logistics costs on imported syrups and packaging without room to raise retail prices.

    Rebalancing Southeast Asian Footprints

    Vietnam was Mixue’s first international market when the chain launched in Hanoi in 2018. By September 2024, the brand ran 1,304 stores across the country, according to its Hong Kong listing prospectus filed in early 2025.

    Mass-market tea and coffee chains in Southeast Asia now face heavier competition from local discounters and Chinese rivals copying the low-price franchise playbook. Mixue’s retreat from sheer store count growth signals that overseas networks cannot rely solely on relentless opening schedules to deliver profit.

    Investors now await Mixue’s updated capital-raising timeline in Hong Kong, where full-year store productivity figures will test whether the overseas pruning protected operating cash flow.

  • Techcombank CEO Jens Lottner Earns $650,000 in First Half

    Techcombank CEO Jens Lottner Earns $650,000 in First Half

    Techcombank chief executive Jens Lottner earned nearly VND17 billion ($650,000) in the first half of 2026, marking a 29 per cent pay increase from a year earlier.

    The figure accounted for more than half of the VND32.9 billion the Hanoi-based private lender paid across its executive leadership, board of directors, and supervisory board during the six-month period.

    Executive compensation at Techcombank

    Reviewed half-year financial statements show total leadership remuneration grew by more than 6 per cent year on year. Lottner personally received VND16.9 billion in salary and performance bonuses, averaging roughly $108,000 a month.

    General staff pay shifted upward at a slower pace. Bank employees earned an average of VND46 million a month in total compensation over the same six months, up 4.5 per cent from the prior year.

    International leadership in Vietnamese banking

    Lottner, a German national with a doctorate in economics from Dresden University of Technology, took the helm at Techcombank in August 2020. His career spans three decades in financial advisory and commercial banking across Asia and Europe, including tenures at McKinsey & Company, Boston Consulting Group, and Siam Commercial Bank in Thailand.

    Private lenders across Southeast Asia have consistently relied on senior expatriate executives to overhaul consumer banking, digital platforms, and credit underwriting. Securing that regional experience requires compensation packages that sit well above local market baselines.

    Investors now look to Techcombank’s third-quarter earnings disclosures to assess whether retail loan growth and fee income justify the bank’s operational spending.

  • Vietnam Gold Prices Drop to Lowest Level Since July

    Vietnam Gold Prices Drop to Lowest Level Since July

    Gold prices in Vietnam dropped on Saturday morning to their lowest level since July 22, tracking an overnight tumble in global bullion markets.

    Saigon Jewelry Company gold bars declined 1% to VND148.7 million ($5,700.59) per tael, which equates to 37.5 grams. Gold rings slipped 0.99% to VND149.7 million per tael, bringing the total decline for domestic gold to 2.68% so far this year.

    Global Bullion Tumbles on Rate Bets

    The domestic retreat tracked sharp losses across international trading desks. Spot gold fell 2.9% to $4,567.23 per ounce on Friday, marking its lowest reading since August 20. U.S. Gold futures for December delivery settled down 2.9% at $4,529.9 per ounce.

    Traders liquidated positions after Federal Reserve Chairman Kevin Warsh indicated that inflationary pressure remains persistent. The comments prompted markets to price in higher odds of monetary tightening rather than immediate policy relief.

    Domestic Retail Demand Reacts

    The drop reversed an earlier weekly rally that lifted global prices to a high of $4,696.18 on Tuesday. Gold ended the week down 2.9% overall.

    In Vietnam, physical gold remains a primary retail savings vehicle and an inflation hedge. When global spot prices swing rapidly, domestic jewellery retailers adjust their buy and sell spreads within hours to protect inventory margins.

    Market participants now shift their attention to the upcoming Federal Reserve policy meeting in September to gauge whether physical bullion demand in Asia will face further currency and interest rate headwinds.