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  • Vietnam’s 2026 GDP Forecast Soars to 8% Amid Robust Economic Performance: Citi Analysis

    Vietnam’s 2026 GDP Forecast Soars to 8% Amid Robust Economic Performance: Citi Analysis

    Citi Research has increased its prediction for Vietnam’s GDP growth in 2026 to approximately 8%, motivated by the country’s better-than-predicted economic performance and sturdy exports. This new forecast was announced during Citi’s economic prospect seminars held for their clients in Hanoi and Ho Chi Minh City on August 11 and 12.

    In the second quarter, Vietnam’s GDP experienced a year-on-year growth of 8.5%, a significant increase from the 7.9% growth in the first quarter. This robust performance has led Citi to adjust its annual forecast upwards to about 8%, a notable change given the previous downscale to the low-7% range following the energy-price shock earlier in March.

    Exports and Trade Relations

    Despite various predictions, Vietnam’s exports have shown more resilience than anticipated. The U.S. alone constitutes about 30% of Vietnam’s exports, with the electronics sector reaping the benefits of considerable global investment in artificial intelligence and digital infrastructure. While exports to the U.S. have decelerated since their peak in 2025, the growth remains significant.

    Trade relations with China have also seen an upswing. Vietnam’s exports of electronics and components to China have sped up, and imports of electronic inputs, energy, and chemicals have increased. This indicates a deeper integration into regional manufacturing and electronics supply chains.

    Domestic Demand and Inflation

    Domestic demand has served to balance out external pressures and those related to energy. Real retail sales dipped in early Q2 due to increasing fuel prices but later regained traction as the prices stabilized. Investment in public infrastructure has stayed strong, while the production of construction materials has continued to grow at a double-digit rate, albeit slower than in Q1.

    However, inflation continues to pose a potential risk. Consumer price inflation reached a high of 4.7% year-on-year in June. Citi anticipates that inflation may have reached its apex, considering the dip in oil prices and government steps to steady fuel costs. However, it could remain above the 4.5% target in the short term.

    Minh Ngo, Citi Country Officer and Banking Head for Vietnam, praised the country’s resilience in the face of a volatile global environment. He emphasized that Vietnam’s expanding trade ties, deeper immersion in global supply chains, and continuous infrastructure investment provide a robust foundation for long-term growth. He assured of Citi’s dedication towards helping clients adapt to changing market trends, access international capital, and seize new cross-border opportunities.

    Questions & Answers

    What has led to the rise in Vietnam’s GDP forecast for 2026?
    This is due to the country’s better-than-expected economic performance and resilient exports.

    How has domestic demand contributed to Vietnam’s economy?
    Domestic demand has proved crucial in offsetting external pressures and those related to energy. Real retail sales have recovered, and investment in public infrastructure remains solid.

    What are the key risks to Vietnam’s economy?
    Potential risks include renewed energy price volatility, weaker global demand, changing international trade conditions, and possible disruption to hydropower generation associated with El Niño.

  • S&P Soars as Crypto, Gold Tumble: How the Feds Shift Shakes Up Market Landscape in 2026

    S&P Soars as Crypto, Gold Tumble: How the Feds Shift Shakes Up Market Landscape in 2026

    As we approach the midway point of 2026, a stark disparity has emerged across various asset categories. The S&P 500 is showing an upward trend with a 5.7 percent increase so far this year. However, cryptocurrencies like Bitcoin and Ethereum have experienced significant losses, with a 32.2 percent and 46.4 percent decrease respectively. Likewise, precious metals like gold and silver, having initially surged due to geopolitical tensions earlier in the year, have since suffered losses of 7.5 percent and 19.4 percent respectively.

    Shifting Dynamics in the Financial Landscape

    This contrast raises a straightforward question among multi-asset allocators – why has the same macro environment produced such a sharp divergence? To answer this, we need to observe the two concurrent structural forces that lead to this phenomenon.

    During his inaugural Federal Open Market Committee (FOMC) meeting in June, the new Chair of the Federal Reserve, Kevin Warsh, made a significant policy statement. He reduced the statement from 341 words to a mere 130, eliminated forward guidance, and ended with a promise in six words – “The Committee will deliver price stability.”

    This statement led to an immediate shift in rate expectations as projections turned from cuts to a higher year-end target. This stark reversal marked the closing of the window for a liquidity-driven recovery in risk assets, resulting in the evaporation of speculative risk capital, particularly in cryptocurrency markets.

    The Resilience of Equities

    Contrarily, large-cap equities have shown impressive resilience, bolstered by strong employment rates and a flourishing AI and services sector. This resilience is due to a structural reason – corporate earnings are majorly concentrated in sectors that directly benefit from the current macro environment, and hence, are capable of absorbing higher rates.

    Precious metals and crypto assets, however, lack this buffer. They rely on favorable liquidity conditions and the opportunity cost of capital, both of which have moved decidedly against them. Gold and silver, which initially spiked due to geopolitical tensions and rising energy costs, were hit hard by the aggressive stance of the Federal Reserve following persistently high inflation readings. This led investors to move away from these non-yielding assets towards risk-free cash yields.

    Questions & Answers

    What has caused the stark disparity in performances across asset classes in 2026?
    The divergence comes as a result of two concurrent structural forces in the market. The aggressive stance of the Federal Reserve and the booming AI and services sectors have affected different asset classes differently.

    Why have cryptocurrencies and precious metals performed poorly?
    These assets rely heavily on favorable liquidity conditions and the opportunity cost of capital. The aggressive stance of the Federal Reserve, coupled with rising inflation, has moved decisively against them, resulting in significant losses.

    Why have large-cap equities shown resilience despite the current macro environment?
    Corporate earnings in large-cap equities are majorly concentrated in sectors that directly benefit from the current macro environment, such as the booming AI and services sectors. This has allowed them to absorb higher rates and maintain steady growth.

  • Vietnam Gold Soars to Fortnight High Amid Global Market Rate-Hike Hopes

    Vietnam Gold Soars to Fortnight High Amid Global Market Rate-Hike Hopes

    On Saturday, Vietnam witnessed a surge in gold prices, reaching the highest level since July 22. This rise coincides with the global increase in the value of the precious metal.

    Vietnam’s Gold Market

    Saigon Jewelry Company’s gold bar experienced a price increase of 1.27%, costing VND144 million, equivalent to US$5,495.24, per tael. A tael, a unit of measure commonly used in East Asia, is approximately 37.5 grams or 1.2 ounces. Gold rings, however, maintained their prices at VND145.2 million per tael. Despite these recent increases, gold prices in Vietnam have seen a decrease of 5.8% overall for the year.

    The Global Gold Market

    Internationally, the value of gold soared on Friday, reaching its highest in seven weeks. This sudden escalation came after an unexpected decline in U.S. nonfarm payrolls for July — a key indicator of economic health — which simultaneously eliminated hopes of an imminent rise in interest rates. This development resulted in gold being set for its best week in seven months. Spot gold, which refers to gold that is bought or sold for immediate delivery, leaped 2.3% to $4,336.02 per ounce, a more than 3% increase to its highest value since June 17. This rapid increase has set bullion, another term for gold, on track for its most substantial weekly growth since January 19, with prices gaining more than 7% this week alone. U.S. gold futures also saw an uptick of 2.3% to settle at $4,399.70.

    Questions & Answers

    What caused the recent increase in gold prices in Vietnam?
    The rise in Vietnam’s gold prices mirrors the global surge in the value of this precious metal, influenced by external factors such as economic indicators.

    How much is a tael?
    A tael, a unit of measure commonly used in East Asia, is approximately 37.5 grams or 1.2 ounces.

    What influenced the sudden escalation in the global value of gold?
    The unexpected decline in U.S. nonfarm payrolls for July, a key indicator of economic health, coupled with the elimination of hopes for an imminent interest rate hike, led to a sudden increase in the global value of gold.

  • Skyrocketing Demand: Docomos Starlink Direct Soars to 5 Million Subscribers in Just Two Months

    Skyrocketing Demand: Docomos Starlink Direct Soars to 5 Million Subscribers in Just Two Months

    NTT DOCOMO, a prominent telecommunications company, has reported a remarkable surge in subscribers for its innovative Docomo Starlink Direct service. The subscription numbers exceeded 5 million just over two months after the service was launched, signaling a robust initial demand for direct-to-device (D2D) connectivity in Japan.

    A New Era in Mobile Connectivity

    The Docomo Starlink Direct service, which was launched on April 27, achieved this impressive milestone within approximately two months. The service facilitates a direct link for compatible smartphones to SpaceX’s Starlink satellites, bypassing the need for terrestrial base stations. It provides comprehensive coverage across Japan, extending up to 12 nautical miles offshore.

    The company attributes this rapid adoption to the growing interest in satellite-enabled mobile connectivity. Among the operator’s 92 million mobile subscribers, a substantial percentage of users with compatible devices have already activated the feature.

    Currently, the company supports 89 smartphone models for the service. Over 25 million compatible devices are already in operation. The Docomo Starlink Direct service contrasts with traditional satellite services, which necessitate specialized hardware. Instead, this service operates intuitively on supported smartphones, eliminating the need for users to register or subscribe separately. Furthermore, the company ensures that satellite data usage is not deducted from customers’ monthly mobile data allowances. Currently, the service is offered at no extra charge.

    The service allows for text messaging, location sharing, and compatible data applications in places where terrestrial mobile networks cannot reach.

    The Future of D2D Satellite Market

    The launch of this service firmly establishes NTT DOCOMO’s foothold in Japan’s burgeoning D2D satellite market. In this space, all major mobile operators are introducing satellite-supported connectivity.

    Operators in Japan view satellite connectivity as a solution to close the remaining mobile coverage gaps in the country’s remote and mountainous regions. This is despite the fact that terrestrial networks already cover over 99% of the country’s population. In addition to extending coverage, these services aim to ensure resilient communication when typical mobile infrastructure is compromised by natural disasters, such as earthquakes and tsunamis.

    Questions & Answers

    What is the Docomo Starlink Direct service?
    The Docomo Starlink Direct is a service offered by NTT DOCOMO that allows compatible smartphones to connect directly to SpaceX’s Starlink satellites, providing coverage across Japan and up to 12 nautical miles offshore.

    How is the service different from traditional satellite services?
    Unlike traditional satellite services which require dedicated hardware, Docomo Starlink Direct operates automatically on supported smartphones, without requiring users to register or subscribe separately.

    What is the purpose of these satellite connectivity services?
    The main purpose of these services is to close the remaining mobile coverage gaps in remote and mountainous regions and provide resilient communications when conventional mobile infrastructure is disrupted by unforeseen circumstances like natural disasters.

  • Moncler Soars High: Luxury Retailer Rides the Wave of Asia Market Expansion With Robust Sales Growth

    Moncler Soars High: Luxury Retailer Rides the Wave of Asia Market Expansion With Robust Sales Growth

    Luxury fashion retailer Moncler has reported a strong momentum in sales growth, driven predominantly by its expanding presence in Asia.

    Strong Performance Across Moncler and Stone Island Brands

    The first half of their financial year saw a significant rise in revenues across its Moncler and Stone Island brands, with increases of 9% and 11% respectively. This strong performance for both brands contributed to a combined first-half group revenue of $1.47 billion and earnings before interest of $280 million.

    Remo Ruffini, Moncler’s Executive Chairman, is of the view that the group’s resilience stems not solely from its ability to swiftly adjust to changes, but also from staying true to its identity and maintaining close ties with the communities they serve. “In the first half of the year we delivered solid growth and profitability across both our brands, staying focused on our products, the creativity that characterizes our brands and the collective energy we share with our audiences,” he said.

    Moncler’s Rapid Growth in Asia

    Asia has proven to be the fastest-growing market for Moncler Group, now representing 54.4% of total sales. In comparison, the share of sales in Europe, the Middle East, Africa, and the Americas has seen a decline.

    Ruffini added that the group is continuously seeking innovative ways to remain relevant throughout the year, beyond the core season. Despite the complex and unpredictable operating environment, he believes these challenging times test their ability to be sharper, bolder, while maintaining discipline and staying grounded. “We approach the second half of the year and the opportunities ahead with this same spirit, and with a clear sense of direction,” he concluded.

    Questions & Answers

    What has driven Moncler’s recent sales growth?
    Moncler’s sales growth was primarily driven by its expansion in Asia, contributing to 54.4% of total sales.

    How did Moncler and Stone Island brands perform in the first half of the year?
    Both brands showed significant growth with their revenues increasing by 9% and 11% respectively, leading to a combined first-half group revenue of $1.47 billion.

    What strategy does Moncler implement to stay competitive in the market?
    Moncler strives to remain relevant throughout the year by continuously seeking innovative ways to engage audiences, focusing on their products and the creativity that characterizes their brands while staying true to their identity and maintaining close ties with the communities they serve.

  • Philippine Airlines Soars with $300M Bond Sale: Billionaire Lucio Tans Strategy for Expansion and Recovery Post-Bankruptcy

    Philippine Airlines Soars with $300M Bond Sale: Billionaire Lucio Tans Strategy for Expansion and Recovery Post-Bankruptcy

    Philippine Airlines, under the ownership of billionaire Lucio Tan, renowned for his ventures in the tobacco and banking sectors, has successfully garnered US$300 million via a five-year bond sale. This strategic move is aimed at financing the carrier’s ambitious plans for fleet modernization and growth.

    The bonds, which have been guaranteed as senior unsecured, were issued at a rate of 7.75% by Primero Agila, a fully owned subsidiary of the airline. The statement issued by the carrier also revealed the overwhelming response received for the offering, which was subscribed to 4.5 times more than anticipated, resulting in an order book surpassing $1.4 billion.

    First Bond Sale Since Bankruptcy Clearance

    Significantly, this bond sale is the first for Philippine Airlines following its emergence from Chapter 11 bankruptcy proceedings in the U.S. in December 2021. The funds raised will be used to bolster the carrier’s international expansion plans, which include augmenting the frequency of flights to major North American hotspots including Chicago, New York, Toronto, and Vancouver.

    In the words of Lucio C. Tan III, president of PAL Holdings and the grandson of the tycoon, “This landmark bond offering is a powerful affirmation of Philippine Airlines’ transformation and the confidence that global investors have in our long-term vision and growth ambitions. This allows us to strengthen our network and continue to elevate the travel experience for our customers.”

    A Landmark Achievement

    The bonds, which have received an unconditional and irrevocable guarantee by Philippine Airlines and its wholly-owned subsidiary, Air Philippines Corp., will be listed on the Singapore Exchange. The $300 million bond sale has been recognized as the first rated high-yield bond offering by a Philippine issuer in over a decade and the first unsecured rated high-yield bond issued by an Asian airline.

    Moreover, the airline has demonstrated a robust earnings recovery since the height of the Covid-19 pandemic. Its net profit witnessed a rise of 2.6% to $78.6 million in the first quarter, compared to the same period in the previous year, while revenue experienced a healthy increase of 9.7% to $895.7 million.

    In addition to aviation, Tan maintains interests in multiple sectors including banking, beer, spirits, tobacco, and real estate via his publicly listed flagship company, LT Group. His net worth stands at an impressive $3 billion, making him one of the wealthiest tycoons in the Philippines.

    Questions & Answers

    What will the proceeds from the bond sale be used for?
    The funds raised from the bond sale will be used to support Philippine Airlines’ international expansion plans, including the increase of flight frequencies to major North American cities.

    Why is this bond sale significant for Philippine Airlines and the aviation industry?
    This bond sale is the first for Philippine Airlines since it emerged from bankruptcy proceedings last year. It is also the first rated high-yield bond offering by a Philippine issuer in over a decade and the first unsecured rated high-yield bond issued by an Asian airline.

    How has Philippine Airlines performed financially since the height of the Covid-19 pandemic?
    The airline has shown a strong earnings recovery, with net profit rising 2.6% to $78.6 million in the first quarter from a year earlier, while revenue increased 9.7% to $895.7 million.

  • Electronics Retail Giant Dien May Xanh Soars with $505m IPO in Vietnams Largest Market Listing in Two Years

    Electronics Retail Giant Dien May Xanh Soars with $505m IPO in Vietnams Largest Market Listing in Two Years

    Mobile World Investment Corporation, a renowned retail conglomerate in Vietnam, recently made a significant move in the business world by separating its electronics retail chain, Dien May Xanh, through an initial public offering (IPO) valued at US$505 million. This event has been one of the most substantial stock market listings in Vietnam over the past couple of years.

    According to internal documents from the company, investors showed substantial interest in the offering, with registrations to buy around 166 million shares. These shares accounted for 92.5 percent of the total 179.5 million shares available, effectively raising around 13.29 trillion dong (equivalent to US$505 million).

    Implications of the IPO

    This development was not unexpected as Dien May Xanh had earlier, in May, expressed its intent to raise approximately US$546 million. This fund-raising was to be accomplished by selling 179.5 million shares at a fixed price – 80,000 dong a share. The raised funds are targeted towards fueling the next phase of the company’s growth and solidifying its place in Vietnam’s consumer electronics market.

    It is expected that Dien May Xanh will make its debut appearance on the Ho Chi Minh Stock Exchange in the first week of August.

    As one of Mobile World Investment Corporation’s key business arms, Dien May Xanh is one of the largest electronics retailers in Vietnam. Its nationwide network comprises stores selling a wide range of consumer technology products, including smartphones, televisions, and home appliances.

    The company has set ambitious financial goals for the next decade. It aims to achieve a compound annual revenue growth of 11 percent and an annual net profit growth of 16 percent through to 2030, as it further broadens its market reach.

    Questions & Answers

    What is the significance of Dien May Xanh’s IPO?
    The IPO is a strategic move by the company to raise funds for its next growth phase and to bolster its position in Vietnam’s consumer electronics market.

    When is Dien May Xanh expected to join the Ho Chi Minh Stock Exchange?
    Dien May Xanh is expected to make its debut on the Ho Chi Minh Stock Exchange in the first week of August.

    What financial targets has the company set for the next decade?
    The company aims for a compound annual revenue growth of 11 percent and an annual net profit growth of 16 percent through 2030.

  • Malaysia Soars to 15th Spot in Global Economic Competitiveness, Credits Boom in AI and Semiconductor Industry

    Malaysia Soars to 15th Spot in Global Economic Competitiveness, Credits Boom in AI and Semiconductor Industry

    In the most recent 2026 IMD World Competitiveness Ranking, Malaysia’s standing significantly improved, moving up eight spots to claim the 15th place. This notable advancement represents the country’s greatest leap in recent years. The International Institute for Management Development, the authority that published the ranking, attributed Malaysia’s enhanced position to advancements across all four pillars of competitiveness.

    The four pillars considered in the ranking include economic performance, government efficiency, business efficiency, and infrastructure. Malaysia demonstrated remarkable progress in all these areas. The country obtained 4th place worldwide for economic performance, while government efficiency ascended 11 places, reaching the 14th position. Business efficiency moved up 16 spots to the 16th position, and infrastructure experienced a slight boost, improving two spots to rank 33rd.

    An Examination of Sub-factors

    Looking deeper into the sub-factors, Malaysia’s domestic economy ranking ascended four places, achieving the 11th position, and the international trade ranking rose one spot to the 5th position. One significant leap was observed in the international investment sector, which climbed seven places to reach the 19th position.

    The IMD ranking evaluates 70 economies based on the aforementioned four fundamental pillars. Malaysia’s consistent improvement is evidenced by its steady ascent over the years. In the previous year, the nation jumped 11 places to secure the 23rd position among 69 economies. This was a marked improvement from the 34th position it held among 67 economies in 2024.

    According to economists, the critical factors contributing to Malaysia’s elevated ranking include a robust economic foundation, heightened trade competitiveness, improved public and business sector performance, and expanding opportunities within the technology sector.

    Stephen Innes, Managing Partner at SPI Asset Management, believes that Malaysia’s substantial boost in competitiveness is not merely indicative of a short-term recovery. Instead, he points to the rapid growth of artificial intelligence and the semiconductor industry as key drivers of this progress. Innes notes that Malaysia’s advantageous positioning across the electrical and electronics supply chain, coupled with its appeal in attracting investment in advanced packaging and data centers, makes it a natural beneficiary of global supply chain diversification.

    Questions & Answers

    What factors led to Malaysia’s improved ranking in the 2026 IMD World Competitiveness Ranking?
    Malaysia’s improvement is attributed to advancements in economic performance, government efficiency, business efficiency, and infrastructure. The rapid growth in artificial intelligence and the semiconductor industry were also highlighted as key contributors.

    How has Malaysia’s ranking evolved over the years?
    Malaysia has shown steady improvement in its standing, moving from 34th out of 67 economies in 2024, to 23rd out of 69 in 2025, and finally to 15th out of 70 economies in 2026.

    What sub-factors saw notable improvement in Malaysia’s ranking?
    Significant improvements were observed in the country’s domestic economy, international trade, and international investment rankings.

  • Indonesias Ultra-Rich Population Soars, Poised for Fastest Global Growth

    Indonesias Ultra-Rich Population Soars, Poised for Fastest Global Growth

    In Southeast Asia, Indonesia holds the second position in terms of inhabitants who possess a net worth of US$30 million or more, according to a recent report. Projections anticipate that this figure will nearly double within the next five years. Presently, the country boasts 3,833 ultra-high net worth individuals, marking a 37% increase since 2021.

    Global Wealth Growth

    By the year 2031, the number of ultra-high net worth individuals in Indonesia is forecasted to spike by 82%, reaching 6,966. This growth signifies the fastest expansion rate globally. Indonesia is one of the rapidly maturing economies expected to take the lead in the global ultra-high net worth population’s growth over the subsequent five years.

    Singapore currently holds the top spot in Southeast Asia for its population of ultra-high net worth individuals, tallying at 7,171. Thailand follows in third place with 2,853, trailed by the Philippines (1,910), Malaysia (1,566) and Vietnam (1,233).

    The wider Asia-Pacific area accounts for almost 31% of the world’s ultra-high net worth population. This percentage is second only to North America, which holds 37%.

    The U.S. and China: Global Leaders

    On a worldwide scale, the U.S. and China hold the lead in terms of ultra-high net worth populations, with more than 251,300 and 121,600 individuals respectively. Moreover, the U.S. also takes the reins regarding wealth creation, constituting approximately 41% of the newly minted ultra-wealthy over the past five years.

    Questions & Answers

    Which country in Southeast Asia has the highest number of ultra-high net worth individuals?
    Singapore currently holds the highest number in Southeast Asia, with a total of 7,171 individuals.

    What is the predicted growth in the number of ultra-high net worth individuals in Indonesia by 2031?
    By 2031, the number of ultra-high net worth individuals in Indonesia is expected to surge by 82%, reaching 6,966.

    Which countries lead globally in terms of the ultra-high net worth population?
    Globally, the U.S. and China lead with more than 251,300 and 121,600 individuals, respectively.

  • Vietnam Soars to 2nd Place in European Poultry Imports: A Boom in Southeast Asia’s Poultry Market

    Vietnam Soars to 2nd Place in European Poultry Imports: A Boom in Southeast Asia’s Poultry Market

    In 2025, Vietnam witnessed an impressive import of over 56,500 tonnes of poultry from Europe, securing the country’s position as the second-largest consumer in Southeast Asia, with the Philippines leading the pack. This considerable import included various products like duck, chicken, and goose from the European Union (E.U.). These figures, released by the European Commission, show the steadily increasing demand for imported poultry products in the country. By January 2026, Vietnam had clinched the top spot as the largest importer of European poultry in the region, with purchases amounting to over 5,300 tonnes.

    Major European Suppliers

    Poland was the key European country supplying poultry to Vietnam, exporting over 37,300 tonnes in the previous year. France trailed behind with about 4,900 tonnes. Other significant contributors were Hungary, Italy, and the Netherlands, with respective exports of 4,680 tonnes, 2,750 tonnes, and 2,170 tonnes.

    According to Dariusz Goszczynski, a representative of the European poultry sector and President of the National Poultry Council under the Polish Chamber of Commerce, Vietnam is a priority market in the region for the E.U.’s poultry industry. This was highlighted during a promotional event in Ho Chi Minh City, under the campaign “European Poultry – From Farm to Fork.”

    Recovery from Pandemic-induced Disruptions

    Poultry importation in Vietnam experienced a downturn during 2021 to 2022 due to the disruptive effects of the Covid-19 pandemic, averaging around 30,000 tonnes per year. However, the volumes have bounced back almost twofold since 2023 as consumption regained momentum.

    Piotr Harasimowicz, the head of the Polish Investment and Trade Agency (PAIH) office in Vietnam, attributed the upswing in imports to the growing consumer trust in European poultry products, renowned for their strict safety and quality standards.

    Future Projections

    Industry professionals expect the demand to continue on an upward trajectory. The annual exports of Polish poultry to Vietnam alone are projected to hit an estimated 45,000 tonnes in the upcoming years.

    According to Agro Monitor, a market data provider, chicken accounted for 33% of Vietnam’s total meat consumption in 2024, a rise from 29% in 2022. This hints at a shift in dietary preferences towards poultry. The average egg consumption per person per year was about 198 eggs, still trailing behind the global average of 250–300 eggs, signifying further potential for market expansion.

    In line with income growth and urbanization, Vietnam’s evolving food consumption patterns are expected to support both domestic livestock development and the continued growth in poultry imports.

    Questions & Answers

    What is the status of Vietnam’s poultry imports from Europe?
    In 2025, Vietnam imported over 56,500 tonnes of poultry from Europe, becoming the second-largest consumer in Southeast Asia.

    Who are the major European suppliers of poultry to Vietnam?
    Poland, France, Hungary, Italy, and the Netherlands are the major European suppliers of poultry to Vietnam.

    What are the future projections for Vietnam’s poultry market?
    The demand for poultry in Vietnam is expected to continue expanding, with annual exports of Polish poultry alone projected to reach about 45,000 tonnes in the coming years. The country’s shifting food consumption patterns, due to factors such as income growth and urbanization, suggest further potential for market growth.

  • Air China Soars Back to North Korea After Six-Year Hiatus: A Positive Shift Towards Open Borders

    Air China Soars Back to North Korea After Six-Year Hiatus: A Positive Shift Towards Open Borders

    After a six-year break, Air China has reinstated direct flights from Beijing to Pyongyang. This comes as another indication that North Korea is gradually becoming more accessible, following the reestablishment of train services between the two capitals.

    Resumption of Flight Services

    Air China’s Flight CA121 took off from Beijing Capital Airport at 7:58 a.m. and touched down at Pyongyang’s Sunan International Airport at 10:37 a.m. The aircraft used for the journey was a Boeing 737-700, which has a passenger capacity of up to 128. However, only individuals with business or study purposes or those with special reasons are currently allowed to undertake the cross-border trip.

    Chinese ambassador to North Korea, Wang Yajun, along with other Chinese diplomats, welcomed the passengers upon their arrival at the airport.

    Passenger Perspectives

    Among the passengers ready to embark on the flight was business traveler Zhao Bin, who conveyed positive sentiments about the resumption of services. He anticipates that the increased availability of transportation options will enhance travel and communication between the two countries. Zhao, a frequent visitor to North Korea, said that the renewed flight service will significantly benefit those who regularly journey between Beijing and Pyongyang.

    In addition, Zhao expressed his eagerness to explore North Korea’s diverse culinary scene and looked forward to the potential strengthening of relations between the two nations due to increased exchange.

    Implications for Tourism

    The cost of economy class tickets for the flight was around $200. A return flight from Pyongyang is planned for midday.

    While this is a promising step, there is still no clear information regarding the resumption of tourism for Western visitors. Before the pandemic, Chinese tourists made up the majority of foreign visitors in North Korea, with approximately 350,000 in 2019, making it a significant source of revenue for Pyongyang.

    By contrast, around 5,000 Western tourists visited North Korea annually from 2009, with U.S. citizens making up 20% of these numbers.

    Slow Reopening

    North Korea has been slower in reopening its borders fully compared to China. The country resumed direct flights and train services with Russia last year, and state carrier Air Koryo reinstated flights from Beijing to Pyongyang in 2023.

    Questions & Answers

    What is the capacity of the Boeing 737-700 used for the flight between Beijing and Pyongyang?
    The Boeing 737-700 used for the flight can accommodate up to 128 passengers.

    Who are currently allowed to travel between Beijing and Pyongyang?
    Only individuals traveling for business or study purposes or those with special reasons are currently allowed to undertake the cross-border trip.

    How many Chinese tourists visited North Korea before the pandemic?
    Before the pandemic, Chinese tourists made up the majority of foreign visitors in North Korea, with approximately 350,000 in 2019.

  • Domino’s China Soars High: Record Revenue and Aggressive Expansion Mark FY25 Success

    Domino’s China Soars High: Record Revenue and Aggressive Expansion Mark FY25 Success

    DPC Dash, the firm in charge of Domino’s operations in China, has noted a substantial revenue increase as well as an ambitious expansion of stores across the country for the fiscal year 2025. The firm’s recorded revenue growth constituted a 24.8% increase year-over-year, amounting to RMB 5.38 billion (approximately US$778 million).

    Consolidating and Expanding Market Presence

    The company has persistently followed a strategic ‘Go Deeper, Go Broader’ approach, emphasizing its expansion into new markets and simultaneously fortifying its foothold in already established markets. Aileen Wang, CEO of DPC Dash, reiterated the firm’s strategic approach during an earnings call, where she noted the company’s disciplined expansion strategy of broadening its reach into new markets and deepening penetration in already existing ones.

    According to Wang, DPC Dash has noticed impressive performance in newly established stores in emerging markets. The daily sales of these stores have surpassed historical averages, clearly reflecting the attractive economic aspects of each unit and the capital efficiency of their developmental model.

    Record Breaking Expansion

    Last year, DPC Dash launched an impressive 307 new stores, extending its reach to 21 fresh cities and bringing the total count of its network to 1315 stores across 60 cities. Notably, the company recorded positive same-store sales growth throughout the year in Tier 1 cities. Furthermore, as of January 31, the company held all top positions in global Domino’s records for the first 30-day sales of new stores.

    DPC Dash’s CFO, Helen Wu, stated that the company has managed to leverage its scale and efficiency gains to strengthen profitability and establish a solid foundation for sustainable, long-term success.

    Loyalty Program Success and Future Goals

    DPC Dash also reported a strong engagement with its loyalty program, noting that the program’s membership increased by 45.3%, from 24.5 million in 2024 to 35.6 million last year.

    Looking forward, DPC Dash anticipates the opening of approximately 350 new stores in the fiscal year 2026. As of March 20, the company had already opened 140 new stores, with 14 under construction and 65 under contract for future development.

    Questions & Answers

    What was the percentage increase in DPC Dash’s revenue year-over-year?
    DPC Dash recorded a 24.8% increase in its revenue year-over-year.

    How many new stores did DPC Dash open in 2025 and in how many new cities?
    DPC Dash opened 307 new stores in 2025, expanding into 21 new cities.

    What is the projected number of new stores DPC Dash plans to open in 2026?
    DPC Dash plans to open approximately 350 new stores in 2026.

  • US Dollar Soars to Year’s Peak Against Major Currencies, Dodging Inflation Threats”

    US Dollar Soars to Year’s Peak Against Major Currencies, Dodging Inflation Threats”

    The U.S. dollar experienced a surge against the Vietnamese dong on Thursday morning, while oscillating around its apex value against significant international currencies this year.

    Vietcombank, a prominent banking institution, reported a minor increase of 0.01% in the value of the dollar, selling it at a rate of VND26,314.

    Contrarily, the U.S. dollar dipped slightly by 0.18% to VND27,910 in the unofficial currency exchange market, also known as the black market.

    Thursday witnessed the U.S. dollar, a popular refuge during periods of financial instability, hovering near its most robust position for the year. This trend was driven by the rising oil prices, which are predicted to escalate inflation and compel central banks around the world to espouse more assertive monetary policies.

    In early Asian trading, the euro experienced a slight decline of 0.1% against the dollar, going down to $1.1549. This brought the euro close to its lowest value since November of the previous year.

    Similarly, the Japanese yen saw a momentary fall, surpassing the 159-per-dollar mark. It depreciated as much as 0.2%, reaching 159.23. This puts the yen on the brink of its most diminished value since July 2024.

    The Australian dollar and the New Zealand dollar also observed declines, both slipping by 0.1%, with the former valued at $0.7148 and the latter at $0.5907.

    Questions & Answers

    What factors influenced the rise in the value of the U.S. dollar?
    The uptick in the value of the U.S. dollar can be attributed to the increasing oil prices, which are expected to instigate inflation and cause global central banks to adopt a more aggressive policy stance.

    How did the rise in the U.S dollar affect other major international currencies?
    The rise of the U.S dollar resulted in a slight depreciation of several international currencies such as the Vietnamese dong, the euro, the Japanese yen, the Australian dollar, and the New Zealand dollar.

    What was the selling rate of the U.S. dollar in the black market?
    In the black market, the U.S. dollar saw a nominal decline, with its rate recorded at VND27,910.

  • Crystal Bay Airlines Soars into Vietnam Market with $11.4M Charter Capital

    Crystal Bay Airlines Soars into Vietnam Market with $11.4M Charter Capital

    The Vietnamese aviation sector has welcomed a new contender, Crystal Bay Airlines, bringing an infusion of VND300 billion (approximately US$11.4 million) into the industry. Established on November 6, 2025, the airline has a diverse range of operations spanning 51 business sectors, but its primary focus is passenger transportation via air, as indicated in its company registration documents.

    Founding Members

    The initial stakeholders of Crystal Bay Airlines are noteworthy and include the Crystal Bay Tourism Group, which provided VND282 billion, constituting 94% of the airline’s charter capital. The chairman of the airline, Nguyen Duc Chi, and the general director, Bui Tuong Chi, accounted for 5% and 1% of the capital, respectively.

    The Crystal Bay Tourism Group has a broad operational scope, encompassing tourism, travel, resorts, and tourism real estate investment. Interestingly, prior to creating the airline, the group had no direct ownership or operational control of an aircraft fleet under the Crystal Bay label.

    International Charter Operations

    Despite not owning a fleet, since around 2022, the company has been facilitating international charter flights to bring tourists to Vietnam, specifically to popular destinations such as Cam Ranh Bay and Phu Quoc Island. These flights have been operated on a regular basis by other airlines, including Vietjet Air and Bamboo Airways. These collaborations have connected Vietnam with numerous markets, including Kazakhstan, Taiwan, Thailand, Mongolia, and Uzbekistan.

    Travel Business Expansion

    In 2023, Crystal Bay further expanded into the travel business by establishing Crystal Bay Tour Co Ltd. This subsidiary was set up to develop software for selling airline tickets and tours, along with executing marketing and communication campaigns – elements that are crucial for any travel business.

    The creation of its own airline is widely perceived as a logical progression for Crystal Bay, aimed to augment its tourism business and establish a comprehensive ecosystem.

    Questions & Answers

    Who are the founding shareholders of Crystal Bay Airlines?
    The founding shareholders include the Crystal Bay Tourism Group, which contributed 94% of the company’s charter capital, as well as the airline’s chairman Nguyen Duc Chi and general director Bui Tuong Chi, who accounted for 5% and 1%, respectively.

    What business sectors does Crystal Bay Airlines operate in?
    Crystal Bay Airlines operates in 51 business sectors with its primary focus being air passenger transportation.

    What is the significance of Crystal Bay Airlines for the Crystal Bay Tourism Group?
    The establishment of Crystal Bay Airlines is seen as a strategic move by the Crystal Bay Tourism Group to complete its ecosystem and enhance its tourism business.

  • Hanoi-HCMC Soars High: World’s 4th Busiest Flight Route for Second Year Running

    Hanoi-HCMC Soars High: World’s 4th Busiest Flight Route for Second Year Running

    The flight route between Hanoi and Ho Chi Minh City (HCMC) once again ranked as the fourth busiest worldwide in 2025, boasting a seat capacity of 11.07 million, according to data from an aviation intelligence firm. The route saw a 4% increase in seat numbers from the previous year.

    Consistent Top Contender

    The Hanoi-HCMC route has consistently held a position in the top ten busiest flight routes over the past eight years. Notably, this was its fourth consecutive year in the fourth position.

    The average cost of a one-way flight along this route decreased by 11% in 2025, with the current average ticket price sitting at $67. This is highly competitive due to the presence of six carriers operating the route in 2025.

    Vietnam Airlines and Vietjet are the main operators on this 1,000-km route, providing several daily flights. The recent addition of Sun PhuQuoc Airways in the last quarter has added to the competition on this route. Other service providers on this sector include Bamboo Airways, Pacific Airlines, and Vietravel Airlines.

    Global Ranking: Top Five Busiest Flight Routes in 2025

    When it comes to the world’s busiest flight routes in 2025, the top five remain largely unchanged from the previous year. South Korea’s Jeju International-Seoul Gimpo route takes the lead with 14.38 million seats, followed by Japan’s Sapporo New Chitose-Tokyo Haneda with 12 million seats and Fukuoka-Tokyo Haneda with 11.5 million seats.

    Saudi Arabia’s Jeddah-Riyadh route, with a seat capacity of 9.8 million, has dethroned Australia’s Melbourne-Sydney route (8.9 million seats) to claim the fifth spot. Interestingly, the Jeddah-Riyadh route also reported the fastest growth, with a 13% increase in seat capacity. It is also the only non-Asia-Pacific route in the top ten.

    Questions & Answers

    What was the fourth busiest flight route in 2025?
    The flight route between Hanoi and Ho Chi Minh City ranked as the fourth busiest flight route in 2025.

    Which flight routes were the busiest in 2025?
    The busiest flight routes were South Korea’s Jeju International-Seoul Gimpo, Japan’s Sapporo New Chitose-Tokyo Haneda, Fukuoka-Tokyo Haneda, Vietnam’s Hanoi-HCMC, and Saudi Arabia’s Jeddah-Riyadh.

    Which route showed the fastest growth in 2025?
    Saudi Arabia’s Jeddah-Riyadh route reported the fastest growth, with a 13% increase in seat capacity.