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Tag: Vietnam

  • Carlsberg Vietnam Transforms Workplace Culture into Vibrant Music Video Celebration

    Carlsberg Vietnam Transforms Workplace Culture into Vibrant Music Video Celebration

    Carlsberg Vietnam recently embarked on a unique creative venture, pondering the question: “If our corporate culture were a song, what would it sound like?” This thought initiated an imaginative endeavor, infusing workplace values with catchy lyrics and inviting participation from both leaders and employees.

    Drawing inspiration from pop sensation Hoa Minzy’s hit “Bac Bling,” the company reworked the song with lively lyrics, infectious rhythms, and vibrant choreography. Everyday locations—from the Phu Bai brewery in Hue to bustling offices in Hanoi and Ho Chi Minh City—transformed into stages where colleagues became singers, rappers, and dancers, bringing their company values to life in a lively and unforgettable way.

    One of the video’s most powerful highlights features Carlsberg Vietnam’s leadership performing side by side with employees, blurring the lines between titles and hierarchies. Here, the only thing that matters is the collective rhythm they share on stage.

    “At Carlsberg Vietnam, every role is significant, and everyone moves to the same beat. When leaders join their teams on the front lines, the divide diminishes,” a company spokesperson shared.

    The music video also illustrates the company’s Growth Culture, a philosophy that shapes daily operations. Semper Ardens, which translates to “always burning with passion,” fuels every performance, while a wave of positive energy traverses generations and functions. Employees take immense pride in their brands, upholding speed and excellence evident in the project’s quick rollout. By empowering their workforce, Carlsberg ensures each individual has a chance to shine.

    Emphasizing its commitment to Diversity, Equity & Inclusion (DEI), the video showcases employees from various backgrounds and roles—from brewers to office staff—uniting in harmonious celebration. This dedication extends to gender representation, with over 40% of senior leadership roles currently held by women, illustrating that diversity isn’t merely acknowledged but actively valued as a source of strength.

    Carlsberg Vietnam recently fortified its reputation as a leading employer by being named one of the Best Companies to Work for in Asia by the HR Asia Awards for the third consecutive year in 2025.

    This year’s theme, “Multi-Generation Synergy,” is beautifully illustrated in the music video: Gen Z injects energy, millennials add adaptability, and Gen X provides stability.

    For Carlsberg Vietnam, culture is not confined to slogans or manuals; it flourishes through daily interactions—within offices, breweries, and the genuine connections made. “This music video is just one chapter in our story. Ultimately, it underscores that culture thrives when we live it together: in harmony, unity, and the shared mission of brewing significant moments for consumers, communities, and a sustainable future,” the spokesperson stated.

    Questions & Answers

    How did Carlsberg Vietnam create its music video?
    The idea began with the question: “If our culture were a song, what would it sound like?” This inspired them to reinterpret the hit “Bac Bling” with playful lyrics and dynamic choreography, inviting participation from leaders and staff alike.

    What themes does the video highlight about Carlsberg Vietnam’s workplace culture?
    The video highlights the company’s Growth Culture, the importance of teamwork, and a commitment to Diversity, Equity & Inclusion, showcasing a workplace where every voice matters and different generations contribute to its success.

    What recognition has Carlsberg Vietnam received for its workplace environment?
    Carlsberg Vietnam was named one of the Best Companies to Work for in Asia by the HR Asia Awards in 2025, marking the third consecutive year it has received this accolade, reflecting its dedication to fostering a positive work environment.

  • Dollar Dips Against Dong: What This Means for Retailers and Consumers Alike

    Dollar Dips Against Dong: What This Means for Retailers and Consumers Alike

    The U.S. dollar weakened against the Vietnamese dong Wednesday morning, despite maintaining its strength against major currencies. Vietcombank reported it sold the dollar at VND26,482, reflecting a slight dip of 0.06% from the previous day. The greenback was trading around VND26,680 on the black market, highlighting the currency’s fluctuating nature.

    Vietnam’s Central Bank Adjusts Reference Rate

    The State Bank of Vietnam took a decisive step, lowering its reference rate by 0.06 percent to VND25,221. This adjustment mirrors the complex dynamics driving the currency market in the region.

    Global Context Influences Local Trends

    Internationally, the U.S. dollar maintained its footing on Wednesday. Traders are keeping a watchful eye on impending inflation reports that may significantly influence future interest rate decisions by the Federal Reserve. Kieran Williams, head of Asia FX at InTouch Capital Markets, pointed out that while a large cut seems unlikely next week, the data will indeed shape market expectations for rate easing heading into the year’s final stretch.

    Currency Markets in a State of Flux

    This atmosphere of uncertainty left the currency markets teetering during Asian trading hours. The euro slipped slightly to $1.16985 after a 0.5% decline in the previous session, while the British pound was recorded at $1.3522. The Japanese yen held steady against the dollar, trading at around 147.42.

    Meanwhile, the Australian dollar hovered at $0.6587, flirting with a seven-week high reached just a day prior. Stand back! The dollar index, which gauges the U.S. currency against six others, remained stable at 97.834 after a 0.3% gain the previous day. However, the index has stumbled about 10% in 2025, as unpredictable U.S. trade policies and expectations surrounding rate cuts undermine the dollar’s appeal.

    Questions & Answers

    How has the U.S. dollar performed against the Vietnamese dong recently?
    The U.S. dollar has weakened slightly against the Vietnamese dong, recently selling at VND26,482, down 0.06% from the previous day.

    What impact are inflation reports expected to have on the currency market?
    Inflation reports are anticipated to guide traders on interest rate decisions from the Federal Reserve, affecting market expectations for economic easing as year-end approaches.

    How is the overall stability of the dollar index influencing trade?
    The dollar index remains stable at 97.834, but it’s down about 10% in 2025, primarily due to volatile U.S. trade policies and shifting expectations surrounding rate cuts, impacting the dollar’s attractiveness in international markets.

  • Gold Prices Dip: What This Means for Retail Investors and Shoppers Alike!

    Gold Prices Dip: What This Means for Retail Investors and Shoppers Alike!

    Gold faces downward pressure as global rates slip. The gold market in Vietnam experienced a decline on Thursday afternoon, mirroring a drop in global prices. The Saigon Jewelry Company reported a 1.03% decrease, bringing the price of gold bars down to VND133.9 million (US$5,071.59) per tael. Meanwhile, the price for gold rings dipped by 0.23%, now priced at VND129.6 million per tael.

    Global Gold Market Reacts to Dollar Stability

    Internationally, gold prices edged lower, yet they remained elevated, comfortably above the $3,600 mark. This slight retreat can be attributed to a modest recovery in the dollar and ongoing profit-taking among investors. The market held its breath ahead of U.S. consumer inflation data expected later today, which could sway future trends, according to Reuters.

    Record Highs and Analyst Insights

    As of the latest reports, spot gold has fallen 0.3% to $3,629.23 per ounce after reaching a staggering high of $3,673.95 just two days ago. Lukman Otunuga, senior research analyst at FXTM, noted that the dip in prices is tied to a stabilizing dollar as well as profit-taking. “Nonetheless,” he added, “gold remains in a firmly bullish territory above the key psychological $3,600 level, especially following yesterday’s unexpected drop in U.S. producer prices which has limited further declines.”

    Questions & Answers

    What factors caused the recent drop in gold prices in Vietnam?
    The decline in gold prices can be attributed to a decrease in global rates, driven by a recovery in the dollar and profit-taking among investors.

    How did the global gold market perform recently?
    Globally, gold prices have edged down but are holding above $3,600 per ounce, reflecting investor sentiment and market conditions ahead of crucial inflation data from the U.S.

    What insights did market analysts provide regarding gold’s future?
    Analysts suggest that while gold is currently under some pressure due to a stabilizing dollar, its bullish outlook remains strong, particularly in light of recent economic indicators.

  • Vietnamese Online Shoppers Prioritize Reliability Over Discounts: A Shift in Consumer Preferences

    Vietnamese Online Shoppers Prioritize Reliability Over Discounts: A Shift in Consumer Preferences

    Vietnamese consumers are dramatically elevating their expectations for online shopping, demanding not just value but also accountability and reliability from e-commerce platforms. As the market begins to burst at the seams, eclipsing a remarkable $25 billion, a recent report from Milieu Insight reveals an insightful shift in consumer priorities.

    Reliability Takes Center Stage

    In a climate where 53% of Vietnamese shoppers now prioritize dependable service, it’s clear that reliability has become a crucial element of their online shopping experience. Surprisingly, only 45% are concerned with lower delivery fees, a stark contrast to the 56% across the wider Southeast Asian region who still place cost savings at the forefront of their needs.

    This relentless pursuit of quality service is further illustrated by the finding that a staggering seven out of ten consumers are willing to pay more for consistent delivery standards. However, this demand for excellence comes with a catch: one in three Vietnamese shoppers would ditch a retailer after experiencing late or subpar deliveries. Additionally, 46% would abandon their purchase outright if a return policy was absent.

    Platforms Under Pressure

    The Milieu Insight report highlights that accountability largely rests with the platforms themselves. A robust 90% of respondents believe that e-commerce platforms—and not the couriers—should enforce delivery standards. The overwhelming preference is clear: a reliable service is paramount, as nearly 79% of users showcased indifference to which courier is utilized, so long as deliveries arrive on time.

    This emphasis on centralized accountability is further accentuated by the fact that half of the surveyed shoppers would prefer to take complaints straight to customer service, signaling a strong expectation for platforms to shoulder the responsibility for their logistics.

    Shifting Consumer Mindset and Growth Trends

    The report doesn’t stop there; it also reveals that 41% of Vietnamese shoppers have ramped up their online spending in the last six months, nearly doubling the regional average. While affordability remains an essential factor—acknowledged by 64%—there’s a notable shift as diverse product offerings (52%), livestream shopping experiences (50%), and AI-powered recommendations (32%) capture consumer attention.

    “Vietnamese shoppers are raising the bar for e-commerce,” stated Juda Kanaprach, Chief Marketing Officer at Milieu Insight. “They want more than just bargains; they expect platforms to stand behind every step of the shopping experience, from accurate product descriptions and transparent fees to, most critically, dependable delivery.”

    As Vietnam’s e-commerce scene evolves, this shift in consumer expectations promises to redefine how platforms operate, ensuring service quality becomes as essential as competitive pricing.

    Questions & Answers

    What are the main priorities for Vietnamese consumers in e-commerce?
    Reliability is the foremost priority, with 53% of consumers seeking dependable service, followed closely by demands for better package handling and accountability from platforms.

    How has online spending changed among Vietnamese consumers recently?
    A remarkable 41% of shoppers have increased their online expenditures in the past six months, significantly exceeding the regional average.

    What are consumers willing to do in response to poor service?
    One in three Vietnamese shoppers would stop purchasing from a retailer after experiencing late or poor deliveries, emphasizing the need for reliable service in the e-commerce sector.

  • Vietnam Launches Pilot Program for Innovative Digital Asset Market

    Vietnam Launches Pilot Program for Innovative Digital Asset Market

    Vietnam is poised to launch a digital asset trading market, allowing cryptocurrencies to be freely issued over a five-year trial period. Under a recent government resolution effective from Tuesday, only Vietnamese companies will be permitted to operate trading platforms. All cryptocurrency issuance, trading, and transactions must be conducted using the national currency, the dong, reinforcing control over the burgeoning digital economy.

    Strict Qualification Criteria

    To enter the arena, issuers must meet a hefty capital requirement of VND10 trillion (approximately US$380 million), with a mandatory 65% stake coming from institutional investors. To add a twist to the tale, foreign participation is limited to 49%, ensuring that the market remains firmly in local hands.

    An Encouraging Landscape for Blockchain

    Shareholders and capital contributors need to showcase a robust financial track record, having posted profits for at least two consecutive years before they can apply for a license. This move aligns with Vietnam’s rapid growth in the blockchain sector, with the Vietnam Blockchain Association reporting that capital flows into blockchain projects surpassed $105 billion in 2023–24, according to data from analytics firm Chainalysis.

    A Crypto-Crazy Nation

    Significantly, a report by crypto payment gateway Triple-A highlighted that more than 20% of the Vietnamese population owns cryptocurrencies, showcasing the vibrant appetite for digital assets. Vietnam doesn’t just dabble in crypto; it ranks among the top three countries globally for crypto adoption, boasting a penetration rate that is three to four times higher than the worldwide average.

    As Vietnam leans deeper into the digital asset race, one can’t help but wonder if the next big cryptocurrency might just emerge from a bustling café in Ho Chi Minh City!

    Questions & Answers

    What regulations are in place for digital asset trading in Vietnam?
    Only Vietnamese companies can operate trading platforms, and all transactions must be conducted in the dong. Issuers need a capital base of VND10 trillion, with specific requirements for institutional investor participation and limitations on foreign ownership.

    How significant is cryptocurrency adoption in Vietnam?
    Vietnam is a hotspot for cryptocurrency, with over 20% of the population owning digital assets. The country ranks among the top three globally for crypto adoption, dramatically surpassing the global average.

    What financial requirements must issuers meet to enter the digital asset market?
    Issuers must have a minimum capital of VND10 trillion, demonstrating financial stability by showing profits for at least two consecutive years prior to applying for a license.

  • Gold Prices Surge: What This Means for Retail Investors and Shoppers Alike

    Gold Prices Surge: What This Means for Retail Investors and Shoppers Alike

    The price of gold in Vietnam has surged as the global market continues its upward trajectory. On Tuesday afternoon, the price of Saigon Jewelry Company gold bars increased by 0.52%, reaching VND135.8 million (approximately US$5,145.89) per tael. Meanwhile, gold rings remained stable at VND130.8 million per tael, with one tael equating to 37.5 grams or 1.2 ounces.

    The rise in Vietnam is part of a broader trend, with gold prices in the country climbing 61% since the beginning of the year.

    This rally is mirrored on the global stage, where gold prices recently hit record highs. On Tuesday, the spot price for gold rose by 0.2% to $3,642.09 per ounce, following a peak of $3,659.10 earlier in the day. The increase is attributed to a weakening U.S. dollar and declining bond yields, spurred by expectations of a Federal Reserve interest rate cut this month.

    In the trading pits, December delivery futures for U.S. gold ticked up by 0.1%, pricing in at $3,682.10.

    Market analysts suggest that there may be further increases in gold prices, with KCM Trade Chief Market Analyst Tim Waterer stating, “We probably will see more upside in gold from here provided that the U.S. central bank delivers with regards to market expectations of seeing multiple rate cuts.” Who knew that a metal often associated with royalty could be creating such a commotion in finance?

    Questions & Answers

    What factors are driving the increase in gold prices in Vietnam?
    The rise in gold prices in Vietnam is largely influenced by global market trends, including a weaker U.S. dollar, declining bond yields, and expectations of interest rate cuts by the Federal Reserve.

    How much has the price of gold increased in Vietnam this year?
    Gold prices in Vietnam have surged 61% since the start of the year.

    What is the current price of gold bars in Vietnam as of the latest report?
    As of the latest report, gold bars are priced at VND135.8 million (about US$5,145.89) per tael.

  • Hanoi Landlords Raise Housing Rents Amid Rising Inflation Pressures

    Hanoi Landlords Raise Housing Rents Amid Rising Inflation Pressures

    In the bustling Khuong Dinh Ward of Hanoi, Thuy Ngan recently faced a tough decision: stay put or move. Her landlord had decided to raise the rent on her 20-square-meter apartment from VND3.8 million (US$144) to VND4.2 million, a 10% increase starting this September. “With inflation soaring, all prices are on the rise. Rent cannot remain untouched,” the landlord explained, echoing a sentiment felt by many in Vietnam’s rental market.

    For Ngan, the struggles of rising living costs meant her total monthly expenses, including utilities, surged to nearly VND5 million, consuming a hefty third of her income. After weighing her options, she opted for a new apartment five kilometers away, where the rent was 10% lower, albeit with a longer commute.

    A Shocked Tenant in Cau Giay

    Quang Huy and his wife found themselves in a similar predicament in Cau Giay Ward. With their lease set to expire, they were blindsided when their rent shot up by 15% to VND9 million for a two-bedroom unit. “The landlord said the property had been freshly painted and renovated, which justified the hike,” Huy noted. The couple was bluntly informed that with students flocking to the area, any disagreement over rent would be met with indifference. After two weeks of searching for more affordable housing, they now contemplate a move to an older unit further from their current home.

    Rising Rents Across the Board

    Nguyen Tuan Anh, who operates a rental company managing 50 units in Hanoi, reveals that many landlords are raising rents by 10% to 15%. Inflation, increasing property prices, and bumps in furnishing costs are common justifications. According to the General Statistics Office, the consumer price index surged by 3.24% year-on-year last month, with household electricity prices climbing 10.8% and water costs up 3.9%.

    Meanwhile, data from property portal Batdongsan indicates that rental demand in Hanoi rose by 11% in July alone. Since March, rents have been on a steady ascent, up 10% overall, with smaller units seeing hikes of up to 15%. Pham Duc Toan, CEO of property developer EZ Property, acknowledged that urban migration is contributing to robust rental demand in cities like Hanoi and Ho Chi Minh City, with 22% of respondents in a recent index citing better job opportunities as their reason for relocating.

    Struggling to Keep Up

    As rents continue to climb, landlords and investors are anticipating even higher returns, driven by the rise in property prices and general inflation. Toan emphasized, “When living costs and prices of goods and services increase, landlords are inclined to raise rents as well.” The September arrival of a new school year typically spurs a 20% to 30% increase in rental demand, coinciding with lease expirations, said Nguyen Chi Thanh, vice chairman of the Vietnam Association of Realtors.

    However, as economic strains persist and salaries stagnate, many residents are forced to compromise. They are increasingly opting for smaller, less central, and more affordable living spaces to make ends meet. A survey conducted by VnExpress reveals that nearly 14% of respondents plan to leave Hanoi and return to their hometowns due to soaring housing costs.

    Seeking Solutions

    Experts suggest that enhancing social housing options could alleviate some of the rental pressures. Toan recommends increasing the supply of social housing through interest rate and tax incentives, alongside improved access to land for developers. After all, in a city where the rent is always too darn high, every little bit helps.

    Questions & Answers

    What factors are driving the increase in rental prices in Hanoi?
    Factors contributing to rising rents include inflation, increased property costs, and a high demand for rental units, especially during the school season.

    Why are some tenants opting to move to less central locations?
    Many tenants are compelled to move further from the city center to find more affordable housing options in response to climbing rents and overall living costs.

    What solutions do experts propose to tackle rising rents in Vietnam?
    Experts advocate for the expansion of social housing availability, which could ease the pressure on the rental market, supplemented by tax incentives and improved land access for developers.

  • Vietjet Offers Up to 99% Off Singapore–Vietnam Flights This 9/9, Plus Free 20kg Baggage

    Vietjet Offers Up to 99% Off Singapore–Vietnam Flights This 9/9, Plus Free 20kg Baggage

    Celebrate Double Day 9/9 with Vietjet’s special promotion, offering Singapore travellers direct flights to Phu Quoc, Da Nang, Hanoi, and Ho Chi Minh City. Passengers can book thousands of tickets at up to 99% off base fares and enjoy 20kg of complimentary checked baggage on all international direct flights.

    From 01:00 to end of the day on 9 September 2025 (GMT+8), travellers can enter the promo code SUPERSALE99 when booking to secure Eco tickets at discounts of up to 99% (excluding taxes and fees).

    The promotion applies across Vietjet’s entire network of international and Vietnam domestic flights for travel between 1 October 2025 and 27 May 2026 (Specific travel periods may apply depending on routes. Blackout dates may apply).

     

    Between 10 September and 23 September 2025, passengers booking Eco tickets on international routes will also receive 20kg of free checked baggage. Simply select the 20kg option at no extra cost during booking and enjoy worry-free travel throughout the festive season. For Singapore-based travellers, the special fares are available for travel between 1 October 2025 and 31 October 2025 on all Singapore–Vietnam routes, which include flights from Singapore to Ho Chi Minh City, Hanoi, Da Nang and Phu Quo.

    Vietjet will increase the frequency for Singapore–Da Nang route to twice daily round-trip flights from 21 November 2025 and Singapore–Phu Quoc route to one daily round-trip flight from 23 December 2025. The promotion gives a perfect chance for travellers from Singapore to immerse themselves in Vietnam’s dazzling festivals and cultural celebrations. From the enchanting Mid-Autumn Festival, where streets glow with colourful lanterns and families share mooncakes, to the lively year-end festivities, Vietnam promises unforgettable experiences.

    On board, passengers can look forward to Vietjet’s special Mid-Autumn flights on selected dates, featuring festive lanterns, in-flight performances, and thoughtful gifts to share with loved ones—bringing Vietnam’s traditions to the skies.

  • Coffee Exports Soar to New Heights, Achieving Record-Breaking Milestone

    Coffee Exports Soar to New Heights, Achieving Record-Breaking Milestone

    In the first eight months of the 2025 fiscal year, Vietnam’s coffee exports soared to 1.2 million tonnes, generating a striking $6.42 billion, as reported by the Ministry of Agriculture and Environment. This impressive growth reflects an 8.7% increase in volume and a staggering 59.1% jump in value compared to the previous year. If this trend continues, export earnings could eclipse $8 billion for the 2024–2025 crop year, significantly outpacing the record $5.6 billion achieved in 2024.

    Rising Stars of the Coffee Industry

    Industry leaders attribute this remarkable surge to several key factors, including soaring global prices and Vietnam’s commitment to enhancing quality. The nation’s focus on specialty coffee, sustainability certifications, and adherence to international standards has bolstered its coffee’s reputation on the world stage while mitigating pricing risks.

    On average, Vietnamese coffee is now exported at $5,580 per tonne, marking a 46.4% year-on-year increase. Germany, Italy, and Spain continue to dominate as primary markets, with exports to Mexico skyrocketing over 90-fold. Even China, despite its modest growth rate, saw a noteworthy 11.7% rise in shipments.

    Advancements Fueling Coffee Competitiveness

    Experts highlight that long-term investments in processing technologies and enhanced supply chain transparency have significantly increased the competitiveness of Vietnamese Robusta. This variety is quickly becoming the preferred choice among roasters globally. Additionally, businesses are venturing into higher-value markets, particularly in specialty and processed coffee, spurred on by beneficial free trade agreements such as the EVFTA, UKVFTA, and CPTPP. In a coffee world that often celebrates strong brews, Vietnam is transforming underdogs into top contenders.

    Private enterprises are taking an active role in this growth story. For instance, Vinh Hiep Company from Gia Lai province reported over $750 million in exports and anticipates exceeding the $1 billion mark this year, accounting for more than 12% of the national coffee export volume.

    Phuc Sinh Group also underscores the evolution of Vietnamese Robusta, once known for its lower pricing, which is now attracting some of the highest prices globally. This turnaround can be credited to advanced processing methods, state-of-the-art roasting systems, and successful expansions into instant and specialty products.

    Thriving on Innovation

    Today, Vietnam dedicates approximately 732,000 hectares to coffee cultivation, achieving an average yield of 2.9 tonnes per hectare. Surprisingly, innovative farming techniques can drive yields as high as 5 tonnes per hectare. As the coffee landscape shifts, Vietnam is not just producing beans; it’s crafting stories of quality and resilience that reverberate across the globe.

    Questions & Answers

    What contributed to the significant increase in Vietnam’s coffee export value in 2025?
    Industry leaders cite a combination of rising global prices and Vietnam’s strategic shift towards improving coffee quality, expanding specialty coffee offerings, and achieving sustainability certifications.

    Which countries are the primary buyers of Vietnamese coffee?
    Germany, Italy, and Spain are the leading markets for Vietnamese coffee, with notable increases in exports to Mexico and a steady growth in shipments to China.

    How has the Vietnamese coffee industry positioned itself in the global market?
    Through investments in processing technology and a focus on higher value specialty and processed coffee segments, Vietnamese coffee has enhanced its global competitiveness and appeal among roasters worldwide.

  • VinFast Achieves Impressive $1.3B Revenue Milestone in First Half of 2023

    VinFast Achieves Impressive $1.3B Revenue Milestone in First Half of 2023

    Vietnam’s Nasdaq-listed electric vehicle pioneer, VinFast, has reported impressive revenues of VND32.92 trillion (US$1.3 billion) for the first half of 2025, marking a remarkable 92% increase compared to the same period last year.

    This surge in revenue can be attributed to a staggering threefold increase in electric vehicle deliveries, totaling 72,167 units as highlighted in its latest financial report. However, much like a rollercoaster, the ride isn’t without its dips; VinFast also reported significant losses of VND37.99 trillion during this timeframe, bringing its accumulated losses to a staggering VND305.78 trillion by June’s end.

    June saw the grand opening of VinFast’s second factory in Vietnam, located in the central province of Ha Tinh. With an annual capacity of 200,000 EVs, this facility is set to enhance the company’s production capabilities. Additionally, last month the company initiated operations at its first overseas factory in India, which is designed to manufacture 50,000 vehicles annually.

    Pham Nhat Vuong, the CEO and largest shareholder of VinFast, made waves earlier this year when he shared that the company might not achieve breakeven for several years. Yet, in a statement filled with determination, he expressed a commitment to never give up on VinFast, vowing to continue investing until every last dollar is spent.

    Vuong has already poured VND50 trillion of his personal wealth into VinFast since 2023. The ambitious CEO has set a target of selling 200,000 vehicles this year, a feat that would set a record for vehicle sales by a single company in Vietnam. “If we reach this target, breakeven could be within our grasp this year,” he declared at Vingroup’s annual general meeting in April.

    Questions & Answers

    What factors contributed to VinFast’s significant revenue increase in H1 2025?
    The remarkable 92% revenue increase was largely driven by a threefold rise in electric vehicle deliveries, totaling 72,167 units.

    How has VinFast’s recent financial performance impacted its overall outlook?
    Despite the substantial revenue growth, VinFast reported significant losses of VND37.99 trillion, with accumulated losses hitting VND305.78 trillion, indicating ongoing financial challenges amid expansion efforts.

    What are VinFast’s plans for future growth?
    VinFast aims to sell 200,000 vehicles this year and has opened new factories in Vietnam and India to bolster production capacity, potentially leading it to breakeven as early as this year if targets are met.

  • Vietnamese Shoppers Flock to Gold as Prices Soar to Record Highs

    Vietnamese Shoppers Flock to Gold as Prices Soar to Record Highs

    At 8:30 a.m., a long line of eager customers snaked along Nguyen Thi Minh Khai Street in Ho Chi Minh City, awaiting entry to the Saigon Jewelry Company (SJC). As gold prices surged to an unprecedented VND134.4 million per tael, anticipation in the crowd was palpable. Each customer was limited to purchasing just one tael of bullion and 0.05 taels of 24K gold rings, which only heightened the sense of urgency.

    Among the crowd was Oanh from District 1, who expressed her anxiety about the rising gold prices. “I’ve waited for hours. Most shops have run out of gold, and I felt it was now or never,” she shared, echoing the sentiment felt by many. The line was predominantly filled with middle-aged and elderly individuals, while younger attendees appeared more interested in gold bars. Many were prepared for the wait, bringing snacks and drinks to keep their spirits high.

    The Gold Rush: A Unique Side Hustle Emerges

    In a surprising twist to the gold-buying frenzy, some young people are capitalizing on the situation by offering to stand in line for clients, like Tan Loi, a college sophomore, who was paid VND800,000 for his services. “I spent over an hour in line, but you’ve got to earn your keep somehow, right?” he remarked with a chuckle. An SJC employee confirmed this phenomenon, stating that many individuals are queuing up to buy on behalf of others, creating a secondary market for buying spots in line. This trend has sparked social media postings advertising paid positions to buy gold, offering pay rates that can exceed VND400,000 a day.

    Gold Fever Spreads to the Capital

    The gold buying excitement is not isolated to Ho Chi Minh City; similar scenes have unfolded in Hanoi. At two Bao Tin Minh Chau locations on Tran Nhan Tong Street, customers were left disappointed when both stores sold out by 10 a.m., despite imposing strict purchasing limits of 0.1 taels. Another shop, Phu Quy, allowed customers to buy as many rings as they wanted but remained constrained with available supplies, promising delivery for the remainder.

    The escalating demand for gold has been fueled by a relentless increase in prices, which have risen for 11 consecutive days. Meanwhile, global spot gold prices lag behind local rates by VND20.9 million per tael, adding pressure on consumers to make purchases now.

    Buyers and Sellers Navigate a Brisk Market

    Interestingly, the influx of buyers has given rise to sellers eager to seize the moment. Manh, who came to sell two taels of gold with his wife, cited rising prices as his reason for cashing in. “Gold’s value has skyrocketed, and I think it might soon decline,” he said, emphasizing the need for financial security. In the same vein, Hoa, an office worker in Hanoi, spoke of her habit of regular gold purchases. “I set aside part of my salary for gold; it’s a better return than most bank deposits,” she noted, reflecting the pervasive belief that gold remains a profitable investment, even in less favorable market conditions.

    Questions & Answers

    What is causing the surge in gold prices in Vietnam?
    Increasing demand and a steady rise in prices over 11 consecutive days have contributed to the surge in gold prices, which reached a record high this week.

    How are people adapting to the gold buying frenzy?
    Some individuals are taking advantage of the situation by offering to queue for others, with social media postings advertising paid opportunities to buy gold.

    What do buyers perceive as the benefits of purchasing gold now?
    Many buyers view gold as a safer investment compared to bank deposits, expecting better returns, and are anxious to buy before prices potentially drop.

  • Fuyao Glass Amplifies Asia’s Retail Horizon With $600m Vietnam Factory Expansion

    Fuyao Glass Amplifies Asia’s Retail Horizon With $600m Vietnam Factory Expansion

    In a significant move reflecting the evolving landscape of Asia’s retail sector, Fuyao Glass Industry Group is set to expand its footprint by opening a second glass factory in Vietnam. This new facility, which represents a monumental investment of approximately $600 million, is poised to enhance the company’s capacity to serve the growing demand for automotive glass in the region.

    Shifting the Gears of Growth

    Currently operating a factory in the north of Vietnam, Fuyao’s new location in the south is strategically aimed at tapping into the bustling automotive manufacturing hub centered around Ho Chi Minh City. With a target commencement date set for 2025, this expansion is expected to create around 2,700 new jobs, cementing Fuyao’s role as a key player in both the local economy and the broader automotive supply chain.

    A Competitive Edge in Automotive Glass

    Established in 1987 and boasting a market capitalization exceeding $16 billion, Fuyao Glass has worked tirelessly to innovate and elevate industry standards. The company has amassed a diverse clientele, supplying glass to renowned automakers such as Volkswagen and BMW. With its new facility, Fuyao aims to not only amplify production capabilities but also enhance its competitive edge in a market that’s increasingly leaning toward sustainability and innovation.

    Building a Sustainable Future

    The factory’s design and operational plans underscore a commitment to sustainability, integrating energy-efficient technologies and practices. It’s a sign that in today’s retail environment, making green choices isn’t just commendable; it’s becoming essential. As Fuyao steps into this new chapter, it couples economic growth with its pledge to lower environmental impact — a narrative increasingly resonant among modern consumers.

    The Local Impact: A Win-Win Situation

    The benefits of this investment won’t be limited to Fuyao alone. This expansion is anticipated to stimulate the local economy, attracting supporting industries and boosting ancillary services in logistics and supply chains. Quite frankly, for a country like Vietnam, which is quickly becoming a regional manufacturing hub, projects like these could be the proverbial cherry on top of an already thriving cake!

    Paving the Way for Future Innovations

    As Fuyao Glass sets its sights on this ambitious project, the company positions itself at the forefront of an exciting period for the automotive glass industry in Asia. With technology and consumer preferences constantly shifting, Fuyao is proving that strong investments in innovation and infrastructure can lead to transformative impacts — both within its corporate walls and across the communities it touches.

    Questions & Answers

    What prompted Fuyao Glass to expand its operations in Vietnam?
    Fuyao Glass is responding to the increasing demand for automotive glass in the region, capitalizing on Vietnam’s growth as an automotive manufacturing hub.

    How many jobs will the new factory create?
    The new facility in southern Vietnam is expected to create approximately 2,700 jobs, significantly contributing to local employment.

    What is Fuyao’s stance on sustainability regarding its new factory?
    The company is committed to sustainability, integrating energy-efficient technologies and practices into the factory’s design and operations to minimize environmental impact.

  • Viettel Amplifies Vietnam’s Digital Growth and Defense Strategy for a Bold Future

    Viettel Amplifies Vietnam’s Digital Growth and Defense Strategy for a Bold Future

    Viettel Group has made headlines with its ambitious investment of approximately USD 1 billion in two pivotal national projects: the An Khanh Data Center in Hanoi and the Viettel Research & Development (R&D) Center in Hoa Lac. This substantial commitment is part of a larger initiative celebrating the 80th anniversary of the August Revolution on August 19 and National Day on September 2, underscoring Viettel’s leadership in advancing strategic technologies per the Politburo’s Resolution 57-NQ/TW, which aims to establish a national network of research centers and high-tech labs.

    A Hub of Innovation Takes Shape

    Spanning 13 hectares in the Hoa Lac Hi-tech Park, the Viettel R&D Center represents a total investment of VND 10 trillion (USD 380 million). Designed to be a comprehensive innovation hub, this facility will feature six smart buildings and is slated for completion by 2030. The R&D Center will address the full innovation cycle, from research and design to prototyping and manufacturing, focusing on creating high-tech “Made in Vietnam” products. It will cater to both defense and civilian technology, prioritizing advancements in propulsion systems, unmanned aerial vehicles (UAVs), remote sensing satellites, radar systems, and cutting-edge civilian applications in big data, AI, and cloud computing. Built to international standards, the R&D hub will boast smart, green designs while emphasizing safety and cybersecurity. When fully operational, it is projected to attract 2,500 highly skilled professionals and significantly bolster Vietnam’s national defense modernization efforts.

    A Data Center to Power Digital Transformation

    In tandem, the An Khanh Data Center is set to become the largest facility of its kind in northern Vietnam, located on a 1.9-hectare site in Hanoi’s An Khanh commune. Equipped with an investment of VND 17.5 trillion (USD 664.9 million), the center will have a designed capacity of 60 MW, with Phase 1 expected to go live in the second quarter of 2026. Plans are in place to evolve this facility into Viettel’s second hyperscale data center by 2030. Adhering to Uptime Tier III standards, the data center will integrate Viettel’s proprietary AI for operations, a five-layer security framework, and cutting-edge cooling technologies. Its sustainable design aligns with Vietnam’s Net Zero emissions goal, and it is poised to play a crucial role in the nation’s digital transformation, serving governmental agencies, the Ministry of National Defense, major enterprises, and national-level AI initiatives.

    Expanding the Technological Landscape

    Currently operating 14 data centers across Hanoi, Da Nang, Ho Chi Minh City, and Binh Duong, Viettel has an aggressive expansion plan. The company is in the process of constructing 11 more centers, aiming to establish a total of 24 data centers with a combined capacity of 560 MW by 2030 — a strategic move designed to meet 40% of Vietnam’s projected data demand. Aside from these two flagship projects, Viettel is also ramping up the construction of additional critical tech infrastructure, including the Tan Phu Trung Data Center in Ho Chi Minh City and the Viettel Tower in Da Nang. As we navigate this exciting technological landscape, one can only wonder: how many more innovative spaces can one company create before they run out of land?

    Questions & Answers

    What are the main features of the Viettel R&D Center?
    The Viettel R&D Center will span 13 hectares and feature six smart buildings, focusing on the entire innovation cycle from research to manufacturing, particularly in high-tech defense and civilian applications.

    How will the An Khanh Data Center contribute to Vietnam’s digital transformation?
    The An Khanh Data Center, with a designed capacity of 60 MW, will serve government agencies and major enterprises, playing a key role in supporting national data needs and integrating advanced technologies like AI.

    What is Viettel’s long-term expansion plan for data centers in Vietnam?
    Viettel aims to establish 24 data centers by 2030 with a total capacity of 560 MW, targeting to meet 40% of Vietnam’s projected demand for data services.

  • Aeon expands Vietnam footprint with first Mekong Delta shopping centre

    Aeon expands Vietnam footprint with first Mekong Delta shopping centre

    Japanese retail conglomerate, Aeon, is set to boost its footprint in Vietnam by launching its eighth shopping complex, Aeon Tan An, marking its first entry into the Mekong Delta region.

    Operational Launch and Location

    The center is slated to commence operations on September 23, before officially launching on October 4. The mall is strategically positioned in the administrative region of Tay Ninh province, located on the bustling Hung Vuong artery, in close proximity to the National Highway 1A and a mere 1km from the significant Ho Chi Minh City-Trung Luong Expressway.

    Community-Oriented Design

    The project embodies Aeon’s “Daily Community Park” concept, blending contemporary aesthetics with green spaces and a community-focused layout. To augment the natural ambience of the center, around 11,000 plants have been integrated throughout the complex, paired with spacious seating areas and an alfresco terrace.

    Tenant Profile and Facilities

    The new center will accommodate approximately 30 retailers, a significant 80% of which are making their debut in the Mekong Delta. The retail mix will be anchored by the Aeon General Merchandise Store and will feature a diverse range of outlets including fashion and sports stores, cafes, eateries, bookstores, a cinema, and various entertainment facilities.

    The company statement emphasized the vision of Aeon Tan An as more than just a shopping and entertainment hub, but as a place where people can naturally come together and connect on a daily basis. It further highlighted the opportunities for every family member to explore unique experiences, savor enjoyable moments in a contemporary shopping environment, and benefit from high-quality services and varied entertainment amenities.

    Aeon’s current portfolio includes shopping centers in major Vietnamese cities such as Ho Chi Minh City, Hanoi, Hai Phong, and Binh Duong.

    Questions & Answers

    What is Aeon’s new project in Vietnam?
    Aeon’s latest project in Vietnam is the Aeon Tan An shopping mall, which will be their eighth shopping center in the country and their first in the Mekong Delta region.

    What is the concept behind the design of Aeon Tan An?
    The design of Aeon Tan An embodies Aeon’s “Daily Community Park” concept, which combines modern design with green spaces and a layout focused on community engagement.

    What kind of facilities and stores can visitors expect at the new Aeon Tan An shopping mall?
    Visitors to the new Aeon Tan An shopping mall can expect a variety of outlets including fashion and sports stores, cafes, eateries, bookstores, a cinema, and various entertainment facilities.

  • Vietjet Reports Strong H1 2025 Performance and Launches New Ho Chi Minh City–Manila Route

    Vietjet Reports Strong H1 2025 Performance and Launches New Ho Chi Minh City–Manila Route

    Vietjet Aviation Joint Stock Company has released its audited financial report for the first half of 2025, reporting strong growth and reinforcing its position as a rising global carrier. Vietjet now operates four direct services linking Singapore with Hanoi, Ho Chi Minh City, Phu Quoc and Da Nang and is boosting its services to Da Nang and Phu Quoc with 49 round-trip flights weekly between Singapore and Vietnam by the end of this year.

    The airline’s performance reflects Vietnam’s emergence as a key aviation hub in Asia and worldwide, while expanding its international network with a new direct route to Manila, Philippines.

    Robust Financial Growth

    In the first six months of 2025, Vietjet achieved air transport revenue of VND35.601 trillion (approx. SGD1.73 billion), with a pre-tax profit of nearly VND1.6 trillion (approx. SGD77.80 million), marking a 37% Year-on-Year (YoY) increase. Consolidated revenue was VND35.837 trillion (approx. SGD1.74 billion), with a pre-tax profit surpassing VND1.651 trillion (approx. SGD80.26 million), reflecting a staggering 65% YoY growth.

    During this period, Vietjet operated 79,000 flights, transporting 14.4 million passengers and contributing over VND4.528 trillion (approx. SGD219.83 million) in taxes and fees. The company’s financial indicators remain strong, with excellent liquidity and consolidated assets exceeding VND112 trillion (approx. SGD5.44 billion).

    Fleet Expansion and Strategic Investments

    Vietjet continued its fleet expansion, ordering 20 A330neo aircraft with Airbus, raising its total order for A330neo to 40, making it the airline with the largest A330neo order in the world.

    At the 2025 Paris Air Show, Vietjet secured a historic order for 100 A321neo aircraft, along with 50 purchase options—the largest deal in the industry—positioning Vietjet among the top 10 airlines globally in terms of aircraft orders.

    Additionally, Vietjet and Rolls-Royce have signed an agreement for 40 Trent 7000 engines to power 20 wide-body Airbus A330neo aircraft, bringing the total number of Trent 7000 engines ordered by the airline to 80.

    Vietjet has broken ground on its Aircraft Maintenance Technical Center at the under-construction Long Thanh International Airport, featuring Hangars 3 and 4 capable of servicing 10 aircraft simultaneously. Additionally, self-service ground operations have been rolled out at major airports to optimise operations and enhance the passenger experience.

    International Expansion: Ho Chi Minh City–Manila Route

    Vietjet will launch a new direct service linking Ho Chi Minh City with Manila, beginning 22 November 2025, with five weekly round-trip flights. This route marks the airline’s first direct connection between Vietnam and the Philippines. Together with flight increases between Vietnam and Singapore, this connectivity will support seamless travel, trade, and cultural exchange in Southeast Asia.

    Travellers can now book their seats at attractive introductory fares.    

    Recognised Excellence and Strategic Vision

    Vietjet has been recognised by AirlineRatings as the “World’s Best Ultra Low-Cost Carrier” and ranked among the Top 5 revenue-generating enterprises by Forbes Vietnam for 2024. The airline continues to expand its footprint, having launched new routes to Singapore, China, India, and Japan in 1H2025, with more international services planned.

    With a modern, fuel-efficient fleet, professional cabin crew, and innovative service offerings, Vietjet remains committed to delivering exceptional value and comfort while driving sustainable growth and global expansion.