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Tag: Vietnam

  • Vietnam’s Gold Rates Skyrocket as Global Bullion Hits Record $5,000 Per Ounce

    Vietnam’s Gold Rates Skyrocket as Global Bullion Hits Record $5,000 Per Ounce

    Gold prices in Vietnam experienced a significant boost on Monday as international bullion rates soared to a new record high of over US$5,000 per ounce. Saigon Jewelry Company’s gold bar price increased by 1.26% to VND176.5 million (US$6,735.35) per tael, a rate echoed by other sellers in the area.

    Local and Global Rates

    Within Vietnam, the price of bullion is now VND14 million per tael higher than the worldwide standard. This surge in price is not limited to bars of gold, as the cost of gold rings also saw an increase of 1.45% to VND175.5 million per tael. Just to clarify, a tael is a unit of weight, equivalent to 37.5 grams or 1.2 ounces.

    Global Gold Price Surge

    Internationally, gold has set a new record high. The escalation in the price of gold is attributed to investors seeking a ‘safe-haven’ asset in light of increasing political uncertainties around the globe. The spot gold price rose by 1.98% to $5,081.18 per ounce, after initially reaching $5,092.71. The precious metal has seen its value increase by over 17% this year alone. Similarly, U.S. gold futures for February delivery saw a 2.01% increase to $5,079.30 per ounce.

    Market analyst Fawad Razaqzada explains the recent trend in gold prices as typical ‘safe-haven’ behaviour. He suggests that underlying demands for secure investments continue to be present, as confidence in the dollar and bonds appear to be somewhat unsteady.

    Questions & Answers

    What caused the surge in gold prices?
    The increase in gold prices is primarily driven by investors seeking a ‘safe-haven’ asset due to the rise in geopolitical uncertainties.

    How much has the value of gold increased this year?
    The price of gold has risen by more than 17% this year.

    What is the current price of gold per tael in Vietnam?
    The price of gold per tael in Vietnam is currently VND176.5 million.

  • Fuel Price Revolution: Vietnam Gasoline Plummets Amid Global Market Fluctuations

    Fuel Price Revolution: Vietnam Gasoline Plummets Amid Global Market Fluctuations

    In Vietnam, gasoline prices experienced a reduction on Thursday afternoon, echoing the recent drop in global rates. The widely used fuel, RON95, underwent a decrease of 0.43%, bringing its cost down to VND18,630 (US$0.71) per liter.

    In a similar trend, the biofuel E5 RON92 also saw a price reduction, decreasing by 0.49% to a new price of VND18,280 per liter. Diesel, on the other hand, experienced a price hike with an increase of 2.43% which resulted in a new price of VND17,700 per liter.

    The change in fuel prices is reflective of the recent fluctuations in the global oil market. This volatility has been brought on by several different factors. These include the possibility of disruptions to oil supplies from Iran and ongoing tensions between the United States and Europe over issues pertaining to Greenland as reported by Vietnam’s Ministry of Industry and Trade.

    In terms of specific fuel types, RON95 saw a decrease of 0.6% to a new price of $72.4 per barrel globally, while the cost of diesel increased by 2.9% taking it to a price of $83.4 per barrel.

    Questions & Answers

    What was the new price of the RON95 fuel in Vietnam?
    The new price of RON95 fuel in Vietnam was VND18,630 per liter, which translates to US$0.71 per liter.

    How did the price of diesel change?
    The price of diesel experienced a hike of 2.43%, which resulted in a new price of VND17,700 per liter.

    What factors have been affecting the global oil market recently?
    The global oil market has been affected by various factors including possible disruptions to oil supplies from Iran and ongoing tensions between the United States and Europe over Greenland-related issues.

  • KK Group Debuts First KKV Flagship Store in Vietnam, Amplifying Its Southeast Asia Presence

    KK Group Debuts First KKV Flagship Store in Vietnam, Amplifying Its Southeast Asia Presence

    KK Group, a key player in retail, has unveiled its first independent KKV flagship store in Vietnam, signifying the company’s second international flagship venue as it continues its expansion in Southeast Asia.

    Store Location and Features

    The new outlet is strategically situated at 28 Le Loi Street in the bustling city of Ho Chi Minh. This high-end retail location is directly across from Saigon Centre, a prominent shopping hub.

    Breaking away from traditional retail designs, the multi-story store integrates unique themed displays, such as the ‘Colorful KKV Moto Park’. This motorcycle-inspired installation is placed at the entrance, utilizing what was previously a parking space.

    The store boasts an extensive selection of lifestyle goods, including toys, beauty products, food, and household items. Approximately 5,000 additional products will be gradually unveiled, just in time for the Tet (Lunar New Year) holiday season.

    Future Expansion Plans

    Rojen Wu, Chief Operating Officer of KK Group’s international business, expressed the company’s commitment to further global expansion. He stated, “We will continue to open global flagship stores in various countries, offering local consumers an enriched and inspirational shopping experience.”

    Vietnam is a crucial market for KK Group in Southeast Asia. The company presently manages around 20 stores across its three brands—KKV, The Colourist, and X11—in Vietnam, with a goal of reaching 50 outlets within the year.

    Founded in China, KK Group runs over 1,000 stores in more than 200 cities within its home market and more than 150 in Southeast Asia. For this year, the group aims to increase that number to over 300 stores across the region.

    Questions & Answers

    Where is the first standalone KKV flagship store in Vietnam located?
    The store is located at 28 Le Loi Street in Ho Chi Minh City, across from the Saigon Centre.

    What unique feature does the new KKV store in Vietnam possess?
    The store is designed with themed installations such as the ‘Colorful KKV Moto Park’, a motorcycle-themed structure at the entrance.

    What are KK Group’s expansion plans in Southeast Asia?
    KK Group plans to continue opening more flagship stores in various countries across Southeast Asia, with a target of over 300 stores across the region for this year.

  • US Fruits and Veggies Flood Vietnam Market: Imports Soar by 67%

    US Fruits and Veggies Flood Vietnam Market: Imports Soar by 67%

    Imports of U.S. fruits and vegetables to Vietnam have surged, showing a nearly 67% increase to US$900 million in 2025. This figure represents a tenfold increase from a decade ago and showcases the robust demand for U.S. produce in Vietnam. Among the top imports are cherries, apples, grapes, and oranges, as reported by Vietnam Customs.

    Disparity in Trade

    Despite the significant increase in imports from the U.S., Vietnamese exports to the U.S. have not shown the same growth. In 2025, the value of Vietnam’s fruit and vegetable exports to the U.S. was $546 million, a mere 1.49% share in a market dominated by suppliers from Mexico, Canada, and South American countries.

    Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, acknowledged the challenges of the U.S. market, noting its stringent technical standards and the geographical distance between the U.S. and Vietnam.

    Vietnam’s Position in the U.S. Market

    Vietnam currently ranks as the 13th largest fruit and vegetable supplier to the U.S., a position achieved through the concerted efforts of local businesses. There is potential for further growth in the U.S. market with the expanding list of fresh fruits allowed for export, including pomelo, mango, dragon fruit, longan, lychee, star apple, rambutan, and, most recently, coconut.

    Consumer trends in the U.S. are shifting towards exotic fruits, health-oriented products, and more processed items like frozen fruit, dried fruits, and juices. Vietnamese products like coconut, durian, and pomelo are becoming increasingly sought after in the U.S.

    Challenges to Exports

    Despite the potential for growth, Vietnamese exports face several hurdles. Starting from this month, the U.S. has tightened regulations on traceability and food safety, with a specific focus on pesticide residues. Inconsistent Vietnamese oversight of planting area codes and packaging facilities may lead to warnings or even temporary import suspensions by the U.S.

    The long distance between the two countries also incurs high logistics costs, making it challenging for Vietnamese fruits and vegetables to compete with suppliers closer to the U.S., such as those in Mexico, Peru, or Thailand.

    Changes in U.S. policies under the Trump administration have introduced unpredictability to trade defense measures designed to safeguard domestic agriculture. At the same time, green production, carbon emission, and social responsibility requirements in supply chains are gradually becoming mandatory, adding further pressure on exporters.

    Questions & Answers

    What are the top U.S. fruits imported by Vietnam?
    The top fruits imported by Vietnam from the U.S. are cherries, apples, grapes, and oranges.

    What are some of the challenges facing Vietnamese exports to the U.S.?
    Challenges include tightened U.S. regulations on traceability and food safety, high logistics costs due to geographical distance, and the increasing mandatory requirements related to green production, carbon emission, and social responsibility in supply chains.

    What potential does Vietnam have for growth in the U.S. market?
    There is significant potential for growth, especially as the list of fresh fruits permitted for export to the U.S. continues to expand. Moreover, with U.S. consumer trends shifting towards exotic fruits and health-oriented products, Vietnamese products like coconut, durian, and pomelo are gaining popularity.

  • Viettel Spearheads Vietnam’s Tech Revolution with Groundbreaking Semiconductor Chip Fabrication Plant

    Viettel Spearheads Vietnam’s Tech Revolution with Groundbreaking Semiconductor Chip Fabrication Plant

    Viettel Group, a Vietnamese multinational telecommunications corporation, has recently launched the initialization phase of building the country’s first semiconductor chip fabrication plant. This ambitious venture, endorsed by the Ministry of National Defense, is a part of a governmental initiative to indigenize chip production capabilities. The project is aimed at developing a comprehensive domestic ecosystem for semiconductor technologies.

    Plant Details and Its Impact

    The prospective plant will be based in Hanoi, within the Hoa Lac Hi-Tech Park, spread across an area of approximately 27 hectares. Its intended purpose is to serve as a national hub for a variety of processes including research, design, testing, and the actual production of semiconductor chips.

    Upon becoming operational, the plant is expected to bolster several national industries, including aerospace, telecommunications, the Internet of Things (IoT), automotive manufacturing, medical devices, and automation, among others.

    Filling the Gap in the Production Process

    The process of creating a fully functional semiconductor chip necessitates six primary stages: product definition, system design, detailed design, chip fabrication, packaging and testing, and integration and testing. To date, Vietnam has engaged in five of these steps, with chip fabrication—the most intricate and crucial stage—remaining unattained domestically. The establishment of the proposed semiconductor chip fabrication plant will enable Vietnam to close this gap, allowing it to complete the full spectrum of the semiconductor chip production process.

    The Prime Minister of Vietnam, Pham Minh Chinh, emphasized the significance of the project, stating that the groundbreaking of the country’s first high-tech semiconductor chip fabrication plant is a momentous event. It signifies a step towards achieving the national strategy for the development of the semiconductor industry and sets the foundation for Vietnam to integrate more deeply into the global value chain through advancements in science, technology, and innovation.

    Training and Workforce Development

    In addition, the plant is expected to function as a practical training center for the semiconductor workforce, merging training with an authentic production environment. As a part of the National Semiconductor Strategy, Vietnam is planning to train 50,000 chip design engineers by 2030, with an aim to cultivate a workforce of over 100,000 individuals in the semiconductor industry by 2040.

    The CEO of Viettel Group, Lieutenant General Tao Duc Thang, emphasized that the plant’s construction would be completed, technology transfer received, and pilot production initiated all by the end of 2027.

    Future Aspirations

    The fabrication plant project will unfold between 2026 and 2030, incorporating plant construction, technology transfer, process perfection, and improved operational efficiency. The project’s long-term vision includes the expansion of the Hoa Lac plant, which would provide a platform for Vietnam to gradually access more advanced semiconductor technologies.

    The launch of this high-tech semiconductor chip fabrication plant is a significant step in Vietnam’s journey towards building technological capabilities, contributing to the country’s objective of technological self-reliance and lasting sustainability.

    Questions & Answers

    What is the purpose of the semiconductor chip fabrication plant?
    The plant will serve as a national hub for research, design, testing, and production of semiconductor chips, supporting numerous national industries.

    What is the timeline for the plant’s construction and operation?
    The plant is expected to be constructed, receive technology transfer, and begin pilot production by the end of 2027. The period from 2028 to 2030 will focus on process optimization and efficiency improvements.

    How will the plant contribute to workforce development in Vietnam?
    The plant will also serve as a practical training center for the semiconductor workforce, attempting to train 50,000 chip design engineers by 2030, and aim for a workforce of over 100,000 in the industry by 2040.

  • Gold Prices Skyrocket Globally and in Vietnam: Impact of US Tariffs and Market Jitters

    Gold Prices Skyrocket Globally and in Vietnam: Impact of US Tariffs and Market Jitters

    On Tuesday afternoon, the price of gold in Vietnam hit a new historical high as global rates also achieved unprecedented levels. The price of a gold bar from Saigon Jewelry Company rose by 0.67%, reaching VND166.1 million (US$6,324.12) per tael, equivalent to approximately 37.5 grams or 1.2 ounces.

    The price of a gold ring similarly increased by 0.80%, costing VND163.5 million per tael. Since the start of the year, gold prices in Vietnam have seen an 8.7% increase.

    Internationally, the situation mirrored Vietnam’s, with gold surpassing $4,700 per ounce for the first time on Tuesday. Concurrently, silver traded near a record high. This sharp increase in precious metal prices can be attributed to the heightened global tension due to the threats by U.S. President Donald Trump of imposing additional tariffs on European allies. This political unrest has led to a surge in investment in safe-haven assets such as gold and silver.

    The spot price of gold rose by 1%, reaching $4,717.03 per ounce after achieving a record high of $4,721.91 earlier in the day. U.S. gold futures for February delivery also saw a significant increase, rising by 2.8% to $4,722.70 per ounce.

    Since the commencement of President Trump’s second term a year ago, gold prices have rallied more than 70%. Similarly, silver has seen a remarkable surge of more than 200%.

    Questions & Answers

    What caused the surge in gold prices?
    The surge in gold prices can be attributed to the heightened global tension due to U.S. President Donald Trump’s threats of imposing additional tariffs on European allies, sparking a rush into safe-haven assets like gold and silver.

    How much did gold prices in Vietnam increase?
    The price of a gold bar from Saigon Jewelry Company rose by 0.67%, reaching VND166.1 million (US$6,324.12) per tael. Since the start of the year, gold prices in Vietnam have seen an 8.7% increase.

    What has been the effect on silver prices?
    Similar to gold, silver has also seen a significant increase in value. It traded near a record high and has seen a surge of more than 200% since the start of President Trump’s second term a year ago.

  • Cherry Costs Tumble as Global Supply Skyrockets: A Bumper Year for Bargain Hunters

    Cherry Costs Tumble as Global Supply Skyrockets: A Bumper Year for Bargain Hunters

    The prices of cherries have experienced a significant drop of 50% as importers ramped up their supply in response to the previous year’s shortages. However, they soon discovered that demand had not notably increased. Importers from Australia, New Zealand, and the U.S. are now selling large cherries for approximately VND900,000 ($34.27) per kilogram, a sharp contrast from the VND2 million price tag from the previous year.

    Retailers Forced to Reduce Prices

    One fruit vendor in HCMC, known as Hoa, noted that U.S. cherries were in high demand last year, which led her to purchase more for this year. However, sales have not been as brisk as expected. She stated, “Supply has increased but demand has yet to match it, forcing sellers to reduce prices.”

    This noticeable drop in prices is also reflected in retail chains such as MM Mega Market and Go! Here, the cost of Australian cherries has dipped to VND250,000-400,000 per kilogram from VND500,000 last year, despite the fact that they were constantly sold out.

    Nguyen Thi Hang, another fruit vendor in HCMC, revealed that the market this year is highly competitive due to an influx in imports, particularly of cherries, apples, kiwifruits, and grapes.

    Vietnam’s Fruit and Vegetable Imports

    Last year, Vietnam imported fruits and vegetables worth $3 billion, which is an increase of 24% from 2024. Globally, the supply of cherries has also seen a general rise. For example, in Chile, the largest cherry exporter in the world, the cherry farming area is estimated to have grown by 4.6% to 80,000 hectares in the 2025-2026 season. Consequently, the production has also increased by 6.7% to 730,000 tonnes, as per the U.S. Department of Agriculture.

    This substantial growth in supply, at a time when demand in key markets has not significantly increased, has resulted in a decrease in prices in various locations, including Vietnam.

    Questions & Answers

    Why have cherry prices plunged by half this year?
    The prices have fallen due to an increase in supply after last year’s shortages. However, the demand has not matched the increased supply, forcing sellers to reduce their prices.

    How has this affected the retail chains?
    Retail chains such as MM Mega Market and Go! have also had to reduce their prices. For instance, the cost of Australian cherries has dipped to VND250,000-400,000 per kilogram from VND500,000 last year.

    What was the value of fruits and vegetables imported by Vietnam last year?
    Vietnam imported fruits and vegetables worth $3 billion last year, marking a 24% increase from 2024.

  • US Dollar Takes a Dip: Vietnamese Dong Gains Amid Global Selloff

    US Dollar Takes a Dip: Vietnamese Dong Gains Amid Global Selloff

    On Tuesday morning, the U.S. dollar experienced a minor decrease in value against the Vietnamese dong. This occurred concurrently with a global sell-off. Vietcombank, an established bank in Vietnam, recorded a 0.007% drop in the greenback, selling it at VND26,386.

    The Dollar in Other Markets

    In contrast, on the black market, the U.S. dollar saw a considerable increase, jumping 0.95% to VND26,550.

    Global Impact

    The global impact was also noticeable. The U.S. dollar fell to its lowest level in a week during early trading on Tuesday. This decline was propelled by threats issued by the White House against the European Union concerning the future of Greenland. This situation led to a wide-ranging sell-off across U.S. stocks and government bonds.

    The dollar index, a measure of the U.S. dollar’s value against six major world currencies, also experienced a dip. The index dropped 0.1% to 99.004, marking its lowest level since January 14. This was due to investor concerns about potential exposure to the U.S. markets.

    The Dollar and the Yen

    Regarding the Japanese yen, the dollar remained steady, with an exchange rate of 158.175 yen. This stability came after Sanae Takaichi, the Japanese Prime Minister, announced snap elections scheduled for February 8. Takaichi’s promise to halt an 8% sales tax on food for two years has turned the spotlight on Japan’s precarious public finances.

    Questions & Answers

    What was the impact of the White House’s threats against the European Union?
    The threats triggered a broad sell-off across U.S. stocks and government bonds, which led to a decrease in the value of the U.S. dollar.

    How did the dollar fare against the Vietnamese dong?
    The U.S. dollar experienced a slight decrease against the Vietnamese dong, with Vietcombank selling the greenback 0.007% lower at VND26,386.

    What is the significance of the dollar index’s drop?
    The drop in the dollar index indicates a decrease in the value of the U.S. dollar compared to major world currencies. This dip reflects investor concerns about potential exposure to the U.S. markets.

  • Decade-Long Scam Uncovered: $68.5M Fake Dietary Supplements Ring Busted in Hanoi

    Decade-Long Scam Uncovered: $68.5M Fake Dietary Supplements Ring Busted in Hanoi

    A vast counterfeit dietary supplement production operation has been exposed by authorities in a Hanoi industrial park, potentially impacting millions of consumers.

    The operation, allegedly run by Medistar Vietnam Company, is believed to have produced and distributed hundreds of tons of fraudulent supplements throughout the country for over a decade. The enterprise has reportedly generated an estimated VND1.8 trillion (US$68.5 million) in revenue through these activities.

    Key Players Arrested

    On January 18th, Lao Cai provincial police arrested Doan Trung Duc, the 46-year-old general director of Medistar Vietnam, along with five other individuals. The charges against them include producing and trading counterfeit food products, food additives, and seriously violating accounting regulations.

    The police have described the operation as “exceptionally large scale,” spanning across Vietnam. A coordinated effort by Lao Cai police, the Ministry of Public Security’s Investigation Police Department for Corruption, Economic Crimes and Smuggling, and Hanoi police led to an inspection of the operation on January 5th.

    Factory Raid Uncovers Counterfeit Products

    Upon inspecting a Medistar factory within Quang Minh Industrial Park in Hanoi, investigators discovered thousands of counterfeit and substandard dietary supplement products being manufactured for distribution. Among the counterfeit items were collagen supplements, vitamins, joint health products, and digestive aids.

    Preliminary findings suggest that from 2012 to 2025, this group has been distributing hundreds of tons of fraudulent supplements in the market. This illegal activity poses grave risks to consumer health and significantly damages consumer trust. The authorities further allege that hundreds of billions of dong were concealed for illicit profit, which has led to substantial tax deficits for the state.

    The investigation by Lao Cai provincial police is ongoing, and there is a possibility for its scope to be expanded in the future.

    Questions & Answers

    What is the estimated revenue generated by this counterfeit operation?
    The enterprise is believed to have generated nearly VND1.8 trillion (US$68.5 million) in revenue.

    What kind of counterfeit products were being produced?
    The factory was producing a range of fake dietary supplements, including collagen supplements, vitamins, joint health products, and digestive aids.

    What are the implications of these activities?
    The illegal activities pose serious risks to consumer health, significantly damage consumer trust, and have resulted in substantial tax deficits for the state.

  • Vietnam Authorities Crackdown on Counterfeit Luxury Goods: Over 1,800 Fake Gucci, Hermes Items Seized

    Vietnam Authorities Crackdown on Counterfeit Luxury Goods: Over 1,800 Fake Gucci, Hermes Items Seized

    A significant crackdown operation in Vietnam resulted in the seizure of over 1,800 counterfeit luxury items, including fake Gucci glasses and Hermes watches. The operation targeted a store specializing in the sale of counterfeit branded merchandise.

    Vendor Fined for Counterfeit Goods

    The Market Surveillance Department in Quang Ngai Province revealed that a 35-year-old vendor in Tinh Khe Commune faced a hefty fine of VND102.5 million (US$4,200) for showcasing and selling 1,000 counterfeit Gucci glasses and 800 counterfeit Hermes watches. All seized items were confiscated and are slated for destruction.

    The authorities stated that the trademarks in question enjoy legal protection in Vietnam. The imposed penalties form part of a wider initiative to clamp down on the circulation of counterfeit, imitation, and substandard goods in local markets.

    Effects of Counterfeit Goods on the Market

    Market surveillance officials stressed that selling counterfeit branded items not only breaches intellectual property laws but also poses the risk of misguiding consumers and damaging the reputation and operations of genuine businesses.

    Additional Enforcement Operations

    In a separate enforcement initiative, a market surveillance team, in conjunction with the police, discovered a substantial amount of goods that lacked the necessary documentation. In one instance, a distributor was found in possession of 675 water filter cartridges branded as “A Qua” and “OCB” without any invoices or evidence of legal origin.

    Another business, engaged in the trading of electric bicycles and electric motorbikes, was flagged for violating labeling regulations, including the omission of compulsory details like manufacturing dates. The total value of the improperly labeled goods amounted to an estimated VND34.5 million.

    Strict Penalties for Commercial Fraud

    Market surveillance officers and local police appealed to businesses to sell only merchandise with verifiable origins and comprehensive documentation. They warned that commercial fraud for profit would be subjected to stringent penalties, and enforcement actions would only escalate.

    Questions & Answers

    What were the counterfeit items discovered in the operation?
    The operation uncovered over 1,800 counterfeit items, including 1,000 fake Gucci glasses and 800 counterfeit Hermes watches.

    What is the impact of selling counterfeit goods on the market?
    Selling counterfeit branded goods not only infringes on intellectual property laws but also risks misleading consumers and undermining the operations of legitimate businesses.

    What measures are being suggested to businesses to avoid legal issues?
    Market surveillance officers and local police encourage businesses to sell only goods with clear origins and complete documentation. Businesses are also urged to comply with labeling regulations.

  • McDonald’s Vietnam Amplifies Expansion Strategy: Aiming for 100 Stores in Three Years

    McDonald’s Vietnam Amplifies Expansion Strategy: Aiming for 100 Stores in Three Years

    McDonald’s Vietnam is reigniting its goal of expanding its presence in the country to 100 outlets within three years. This ambitious plan comes after the fast-food giant fell well short of its target, with only 35 locations in 2024 and 39 this current year.

    Revamping the Expansion Strategy

    The Director of Development at McDonald’s Vietnam, Dan Ta, revealed a number of strategies the company is considering to revamp its image, pricing, and expansion strategy. Emphasizing a shift towards a wider consumer base, he said, “Our brand is currently perceived as a premium establishment, but we want to be able to serve a wider range of customers.”

    Targeting Key Cities for Expansion

    McDonald’s is setting its sights on several key cities for growth, including Phu Quoc, Da Nang, Hue, Nha Trang, Da Lat, and Vung Tau, building on its existing presence in Hanoi and Ho Chi Minh. Phu Quoc, in particular, has emerged as a significant focus for expansion, given its new airline launch and the upcoming hosting of the Apec Summit next year.

    Challenges Ahead

    However, the road to McDonald’s expansion in Vietnam may be fraught with challenges. The popularity of local staples such as bánh mì, cheaper and deeply rooted in the eating habits of Vietnamese consumers, poses a significant challenge.

    Moreover, the competitive landscape of the Vietnamese fast-food market also presents a hurdle. According to recent data, some of the top fast-food chains in the country, include Lotteria, with 222 outlets, Jollibee, with 213 outlets, and KFC, with 172 outlets.

    Ralf Matthaes, CEO of IFM Research, located in Ho Chi Minh City, pointed out that McDonald’s Vietnam has not localized its offerings as deeply as some competitors. He stated, “Vietnamese people aren’t typically burger eaters. Essentially, a Big Mac is still a Big Mac – you can’t change that.”

    Questions & Answers

    What is McDonald’s Vietnam’s expansion goal?
    McDonald’s Vietnam aims to expand its presence in the country to 100 outlets within three years.

    What challenges does McDonald’s face in its expansion in Vietnam?
    McDonald’s faces challenges in its expansion in Vietnam due to the popularity of local staples such as bánh mì and a highly competitive fast-food market.

    What cities are targeted in McDonald’s Vietnam expansion plan?
    McDonald’s Vietnam is targeting expansion in several key cities, including Phu Quoc, Da Nang, Hue, Nha Trang, Da Lat, and Vung Tau, in addition to its existing presence in Hanoi and Ho Chi Minh.

  • Gold Prices Soar Globally and in Vietnam: Safe-Haven Asset Hits Record Highs amidst Trade War Uncertainty

    Gold Prices Soar Globally and in Vietnam: Safe-Haven Asset Hits Record Highs amidst Trade War Uncertainty

    Surge in Gold Prices

    On a recent Monday morning, both Vietnamese and global gold prices achieved unprecedented highs. The price of a gold bar from Saigon Jewelry Company escalated by 1.35%, reaching a high of VND165 million (US$6,280.68) per tael. This increase in price was mirrored by other vendors, who matched this rate.

    Over the course of this month, Vietnam’s local gold prices have experienced an almost 8% increase, with rates standing at VND16.5 million per tael higher than the global average.

    Elevation in Gold Ring Prices

    The cost of gold rings also experienced an upturn, with a 1.57% increase, pricing them at VND162.2 million per tael. To clarify, one tael is equivalent to 37.5 grams or 1.2 ounces.

    Global Market Reactions

    Internationally, both gold and silver reached their highest-ever prices on this Monday, while oil prices remained static due to concerns about the potential impact of a full-scale trade dispute between the U.S. and Europe on global growth and demand. Such worries have emerged from the unpredictability injected into global trade by President Donald Trump’s decision to impose tariffs on eight European countries, unless the U.S. is permitted to purchase Greenland. As stocks slip and the U.S. dollar weakens broadly, the market finds itself in a state of volatility.

    “Hopes that the tariff situation has calmed down for this year have been dashed for now – and we find ourselves in the same situation as last spring,” stated chief economist Holger Schmieding of Berenberg.

    Safe-Haven Gold

    In light of such circumstances, the safe-haven asset of gold has witnessed a significant surge, with a gain of over 1% on Monday, resulting in a new record of $4,689.39 per ounce. So far this January, the value of the precious metal has risen nearly 8%, following a substantial 64% gain last year.

    Questions & Answers

    What is the current surge in gold prices attributed to?
    The surge is attributed to escalating global trade uncertainties, particularly between the U.S. and Europe, which have fuelled market volatility and boosted demand for safe-haven assets like gold.

    How much has the price of gold increased in recent times?
    The price of gold has risen nearly 8% in January alone, following a 64% increase last year.

    How does the local gold price in Vietnam compare to the global rate?
    The local gold prices in Vietnam are currently VND16.5 million per tael higher than the global average.

  • 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.

  • Vietnam’s E-commerce Boom: Daily Online Shopping Hits $44M in 2025, Up 34.8% YoY

    Vietnam’s E-commerce Boom: Daily Online Shopping Hits $44M in 2025, Up 34.8% YoY

    In 2025, Vietnamese consumers significantly increased their online spending, with daily expenditures reaching over VND1.17 trillion (US$44.5 million). This figure represents the aggregated sales of the country’s four dominant e-commerce platforms: Shopee, TikTok Shop, Lazada, and Tiki. These platforms collectively generated a whopping VND429 trillion for the year, indicating an impressive growth of nearly 34.8% from the previous year.

    Surging Sales and Popular Product Categories

    The year 2025 saw a surge in sales on e-commerce platforms, with more than 3.9 million items sold, marking an increase of 15.2% from the preceding year. Products priced in the range of VND100,000-200,000 emerged as the most popular category, making up 25% of the total sales value.

    Beauty, home and living, and women’s fashion stood out as the top-selling categories. Beauty products alone generated over VND74.4 trillion, accounting for 29.5% of the total sales. They were followed by home and living products, and women’s fashion items, which raked in VND56.7 trillion and VND54.5 trillion, respectively.

    Health, children’s fashion, and stationery were identified as the fastest-growing categories, experiencing skyrocketing growth rates of up to 80%.

    Trends in Seller Activity

    The number of active shops on these four platforms was reported as 601,800, a decrease of 7.4% from the end of 2024. However, this represented a recovery from late September 2025, when the number of active sellers fell to just 537,900.

    Interestingly, the rise in revenue coincided with a decline in sellers. This suggests that less competitive sellers were phased out, leaving behind a more streamlined and robust online marketplace.

    Market Dominance

    Shopee and TikTok Shop maintained their stronghold on Vietnam’s e-commerce market, capturing market shares of 56% and 41.3%, respectively. In comparison, Lazada and Tiki held a mere 3% share between them, a decrease from 6% in the previous year.

    A significant portion of the e-commerce revenue, approximately 83%, was concentrated in Ho Chi Minh City and Hanoi.

    Questions & Answers

    What was the daily online spending by Vietnamese consumers in 2025?
    In 2025, Vietnamese consumers spent over VND1.17 trillion (US$44.5 million) per day on online shopping.

    Which product categories were most popular on Vietnamese e-commerce platforms in 2025?
    In 2025, the most popular product categories on Vietnamese e-commerce platforms were beauty products, home and living items, and women’s fashion.

    Which companies dominated the Vietnamese e-commerce market in 2025?
    In 2025, Shopee and TikTok Shop dominated the Vietnamese e-commerce market, with market shares of 56% and 41.3%, respectively.

  • Unlocking Vietnam’s Digital Economy: The Transformative Impact of 5G Expansion

    Unlocking Vietnam’s Digital Economy: The Transformative Impact of 5G Expansion

    Vietnam’s burgeoning 5G network is forecasted to bolster the forthcoming wave of the nation’s digital economy. This expectation comes as local telecommunications companies hasten infrastructure development and commence the expansion of commercial and public sector applications.

    5G Infrastructure Expansion

    Viettel, Vietnam’s premier operator, has established around 30,000 5G base stations, achieving approximately 90% outdoor coverage and 70% indoor coverage. This surpasses the commitments the company made to the government. As predicted by Vietnam’s Ministry of Science and Technology, by 2025, 5G services were widely commercialized throughout the nation, reaching over 90% of the population.

    Practical Economic Benefits

    Telecommunications providers affirm that the extended availability of 5G is already producing tangible economic advantages, particularly within rural commerce and agriculture. Since August 2025, Viettel Post has facilitated numerous livestream sales sessions in several provinces such as Thai Nguyen, Vinh Long, Bac Ninh, and Lai Chau, to assist farmers in reaching consumers across the nation.

    In Sin Ho commune, located in Lai Chau province, three livestream sessions led to more than 300 tons of yacon root being sold by local Mong farmers. According to Dinh Thanh Son, Deputy General Director of Viettel Post, the marriage of 5G connectivity and integrated logistics systems is aiding farmers in reducing their reliance on traditional intermediaries and managing price fluctuations. The existence of stable, high-speed connections allows farmers to livestream directly from production sites, while 5G-enabled Internet of Things applications are being trialed to monitor conditions such as temperature, humidity, and weather in agricultural production.

    5G Rollout and Development

    Nguyen Duy Lam, a Senior Telecommunications Solutions Expert at Huawei Vietnam, shared that the rollout of 5G in Vietnam has made rapid strides in areas like e-commerce. However, the establishment of smart city and smart factory applications will necessitate continued enterprise investment and supportive government policies.

    Nguyen Ha Thanh, Deputy General Director of Viettel Telecom, considers 5G as strategic national digital infrastructure, aligning with a specific national resolution. She believes the impact of 5G investments should be evaluated from a national viewpoint, taking into account improvements in governance efficiency, quality of life, and the development of novel digital business models.

    Network Coverage and Focus Shift

    With network coverage largely in place, operators are now shifting their attention towards applications and platforms. Viettel Telecom intends to launch three virtual assistant platforms for individuals, households, and enterprises over its 5G network. Concurrently, MobiFone is executing 5G-based smart city solutions in Hanoi, inclusive of AI-powered camera systems, emergency response drones, and comprehensive urban monitoring platforms that address issues like traffic congestion, flooding, environmental pollution, and food safety.

    Questions & Answers

    What is the current state of Vietnam’s 5G network?
    Vietnam’s 5G network has been extensively developed, with the country’s largest operator, Viettel, establishing approximately 30,000 base stations. This has resulted in around 90% outdoor coverage and 70% indoor coverage.

    How is 5G aiding Vietnam’s rural sectors?
    5G is proving particularly beneficial to rural commerce and agriculture, where high-speed connections allow for activities such as livestream sales sessions. This is helping farmers reach consumers nationwide without the need for traditional intermediaries.

    What future applications are being planned for Vietnam’s 5G network?
    Looking ahead, operators are shifting their focus towards applications and platforms. Viettel Telecom plans to introduce three virtual assistant platforms, while MobiFone is implementing smart city solutions in Hanoi. These advancements will further integrate 5G connectivity into everyday life and enterprise operations.