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Tag: Vietnam

  • HCMC’s Overseas Remittances Drop 23% Amid Global Economic Challenges in H1 of 2026

    HCMC’s Overseas Remittances Drop 23% Amid Global Economic Challenges in H1 of 2026

    In the first half of 2026, Ho Chi Minh City (HCMC) received over $4 billion in remittances, marking a considerable decrease of almost 23% compared to the same period in the previous year. Factors contributing to this downward trend include a sluggish global economy, more restrictive immigration policies, and shifts in capital flows, all of which negatively affected overseas Vietnamese transfers.

    During the second quarter, remittances that were transferred via credit institutions and economic organizations amounted to $2.03 billion. Although this reflects a slight increase of 1.4% from the first quarter, it is a significant decrease of 27.9% compared to the same quarter last year, as reported by the State Bank of Vietnam (SBV)’s Region 2 Branch.

    Geographical Distribution of Remittances

    Tran Thi Ngoc Lien, the Deputy Director of the SBV’s Region 2 Branch, disclosed that Asia continued to be the most significant source of remittances, contributing over $1 billion, representing 49.3% of total inflows. This figure is up by 9.8% from the previous quarter. The Americas came in second, contributing $672.6 million, making up over 33% of the total.

    In the first quarter, remittances from Asia increased by 9.8%, becoming the primary force of recovery. However, inflows from Europe, the Americas, and Oceania decreased.

    For the first six months, Asia and the Americas remained the leading sources, accounting for over 81% of total remittances. Asia led the way with $1.92 billion, accounting for 47.5% of the total. The Americas followed with $1.38 billion, or 34.1%, and Oceania contributed $418.3 million or 10.4% of the total.

    Contributing Factors and Future Projections

    According to Lien, the decline in remittances is attributed to a mix of international and domestic factors. Slow global economic growth, the strong U.S. dollar, and stricter immigration policies in several countries have all affected employment and income, impeding the ability of overseas Vietnamese to send money home.

    Inflationary pressures, increased living costs, labor market changes, and tax policy adjustments related to certain money transfer transactions have also impacted the Americas, particularly the U.S. – a significant remittance market for HCMC.

    Domestically, the SBV’s Region 2 Branch pointed out that some investment channels have not been attractive enough to absorb remittance capital. Moreover, the interest rates for foreign currency deposits have remained at 0%, leading some overseas Vietnamese to keep their funds abroad or shift them to other investment assets.

    Nevertheless, the SBV’s Region 2 Branch predicts a potential recovery, provided the global economy avoids major disruptions, and the current recovery trend persists in the second half of the year. The projections suggest that HCMC’s total remittance inflows in 2026 could reach between $8.6 and $8.9 billion.

    Despite being below levels recorded in previous years, remittances are expected to recover more noticeably on a quarterly basis, bolstered by the easing of international interest rate conditions, exchange rate stability, and the continued effectiveness of banks’ remittance promotion programs.

    Questions & Answers

    Why have remittances to HCMC reduced significantly in the first half of 2026?
    The decline can be attributed to global economic challenges, tighter immigration policies, and shifts in capital flows that have affected overseas Vietnamese transfers.

    Which regions are the main contributors to remittances to HCMC?
    Asia and the Americas are the two principal sources of remittances to HCMC, collectively accounting for over 81% of total remittances.

    What are the expectations for HCMC’s remittances in the second half of 2026?
    If the global economy remains stable and the current recovery trend continues, HCMC’s total remittance inflows are projected to reach between $8.6 and $8.9 billion in 2026.

  • Global Tensions Fuel Surge in Vietnam’s Gasoline Prices

    Global Tensions Fuel Surge in Vietnam’s Gasoline Prices

    On Thursday, petrol prices in Vietnam saw a significant hike due to a surge in global fuel prices. The country’s most widely consumed fuel, E10 RON95, experienced a 4.28% price rise, bringing its cost to VND21,430 (US$0.81) per litre.

    There were similar increases across other types of fuel. Biofuel E5 RON92 saw a 5.35% increase, raising its price to VND20,880. Diesel prices saw the most substantial jump, with a 10.5% increase taking the cost to VND25,760 per litre.

    Global Market Trends

    These price hikes have been attributed to the shifting conditions of global fuel markets, which have been trending higher in recent times. The surge in global fuel prices has been exacerbated due to escalating political tensions and conflicts, including those between the U.S. and Iran. In addition, the maritime blockade declared by the Houthi movement in the Red Sea has also contributed to the upward price trends.

    The rise in international fuel prices has had a global impact. For instance, RON95 gasoline prices rose by 11.4% to $115.5 per barrel, while diesel saw a 10.8% increase, taking its price to $150.9 per barrel. Fuel oil, also known as mazut, also experienced a significant increase, climbing by 12.3% to a staggering $546.3 per ton.

    Questions & Answers

    What led to the increase in Vietnam’s fuel prices?
    The increase in fuel prices in Vietnam was a direct result of the surge in global fuel prices, which has been driven by escalating political tensions and conflicts.

    How much did the price of the most popular fuel in Vietnam increase?
    The price of E10 RON95, the most popular fuel in Vietnam, increased by 4.28% to VND21,430 (US$0.81) per litre.

    What are the current global market trends for fuel prices?
    Fuel prices are currently trending higher globally, mainly due to escalating political tensions and conflicts, including the U.S. and Iran conflict, and the maritime blockade declared by the Houthi movement in the Red Sea.

  • Sheraton Saigon Elevates Event Experience with Level 23: New Multipurpose Venue and Skyline Bar

    Sheraton Saigon Elevates Event Experience with Level 23: New Multipurpose Venue and Skyline Bar

    In celebration of its 23rd anniversary, the Sheraton Saigon Grand Opera Hotel, located in the heart of Ho Chi Minh City, has recently unveiled Level 23. This innovative space showcases a convergence of meeting venues, event spaces, and a rooftop entertainment area, designed to meet the increasing demand from business travelers, international delegations, and local patrons for multi-functional destinations.

    Exploring the Offerings of Level 23

    Level 23 brings together the private event space Altitude 23, Summit – a versatile meeting and event area, and Hai Bar, one of the most elevated rooftop bars in Dong Khoi. This promising project was officially introduced to the public during the “High Above Saigon” event held on June 26, 2026.

    Summit, the meeting and event space, features five adaptable rooms that provide natural daylight and sweeping views of iconic landmarks such as the Nguyen Hue Boulevard, Bitexco Tower, and the city’s skyline. With the largest room, Grand Summit, capable of accommodating up to 212 guests in a theater-style arrangement, 180 for cocktail events, and 160 for banquets, Summit offers a venue solution for a variety of events. The rooms can be used individually or combined, providing the perfect setting for anything from executive meetings, product launches, and corporate events, to galas, weddings, and private celebrations.

    Adding to the allure of Level 23 is Hai Bar, the hotel’s renovated rooftop cocktail bar. Open from 5 p.m. daily, the bar offers breathtaking views of the Saigon Opera House, Notre-Dame Cathedral, the Saigon River, and Ba Son Bridge. Patrons can choose from 23 signature cocktails, each inspired by different regions of Vietnam and made with locally sourced ingredients.

    Introducing Altitude 23

    Altitude 23, the private event venue, is a spacious 260-square-meter area that offers panoramic views of Ho Chi Minh City. It can comfortably accommodate up to 200 guests in theater-style seating and up to 150 for banquets or cocktail receptions. The venue, which once housed the Night Spot nightclub, has been redesigned for contemporary events while preserving elements of the original space.

    According to Julian Wong, General Manager of the Sheraton Saigon Grand Opera Hotel, the introduction of Level 23 is a significant milestone for the hotel. He emphasized that the concept is not just about height but rather about providing a tranquil, elevated perspective of the vibrant city. Wong affirmed that guests are increasingly seeking destinations that can accommodate multiple purposes within a single visit, and Level 23, with its high-floor experience, perfectly fits the bill.

    The unveiling of Level 23 marks the hotel’s third substantial development in less than a year. Earlier, it opened the Grand Opera Tower, added 120 renovated rooms and suites, and became the first Marriott International hotel in Vietnam to receive LEED Gold Certification under the LEED v4.1 Operations and Maintenance standard.

    Questions & Answers

    What is the concept behind Level 23 at the Sheraton Saigon Grand Opera Hotel?
    Level 23 is designed to accommodate the increasing demand for multi-functional destinations that can cater to a variety of events, from business meetings to private parties, all within a single space.

    What unique features does Level 23 offer?
    It brings together three distinct venues: Summit, a versatile meeting and event space; Hai Bar, a rooftop cocktail bar; and Altitude 23, a private event venue. Each offers a unique high-floor experience with panoramic views of Ho Chi Minh City.

    What is the capacity of the venues at Level 23?
    Grand Summit, the largest space at Summit, can accommodate up to 212 guests. The rooftop bar, Hai Bar, is open to all guests, while Altitude 23 can seat up to 200 guests in a theater-style arrangement.

  • Vietnam’s Economic Surge: Standard Chartered Uplifts 2026 GDP Growth Forecast to 9.5%

    Vietnam’s Economic Surge: Standard Chartered Uplifts 2026 GDP Growth Forecast to 9.5%

    Standard Chartered has increased its projection for Vietnam’s economic growth in 2026 to 9.5%, a considerable increase from its previous estimate of 7.2%. This revision comes on the heels of Vietnam’s robust economic performance in the first half of the year, with key growth sectors showing continuing momentum. Moreover, the bank expects this positive trend to extend into 2027, anticipating a GDP growth of 11%. This revision signifies one of the most substantial forecast upgrades the bank has made for Vietnam in recent times.

    Forecast Adjustments and Economic Stability

    In tandem with this increased growth projection, Standard Chartered has decreased its inflation forecast for 2026 and 2027 to 4.4% and 3.3% respectively. This reduction comes as the bank predicts a further easing of price pressures. Consequently, the State Bank of Vietnam is expected to keep its policy rates unchanged, maintaining a balance between supporting economic growth and ensuring macroeconomic stability.

    According to Tim Leelahaphan, Senior Economist for Vietnam and Thailand at Standard Chartered, Vietnam has shown significant resilience and adaptability during the first half of 2026. Growth has exceeded expectations, largely due to the robust recovery of the manufacturing-processing industry, services, and investment sectors, as well as the beneficial impact of pro-growth policy measures.

    Outlook for the Future

    Despite existing global economic uncertainties and inflationary risks, Vietnam is stepping into the second half of the year with a solid foundation. Continuous domestic demand, persistent investment in infrastructure, enhanced production capacity, and ongoing economic restructuring are expected to cultivate a balanced and sustainable growth model. These factors are predicted to support the nation’s long-term development goals.

    With its revised 9.5% growth projection for 2026, Standard Chartered stands as one of the most optimistic international institutions regarding Vietnam’s economic future. Other international financial institutions have also echoed this upbeat outlook. This growing confidence in the resilience and prospects of the Vietnamese economy emphasizes the positive direction the country is headed in, despite varying forecasts. The principal factors supporting this economic expansion include recovering domestic demand, sustained investment inflows, pro-growth policies, and accelerated infrastructure development. However, external uncertainties still necessitate careful monitoring to ensure sustainable growth.

    Questions & Answers

    What is Standard Chartered’s revised economic growth projection for Vietnam in 2026?
    The bank has revised its growth projection to 9.5%, up from its previous forecast of 7.2%.

    What factors have contributed to Vietnam’s positive economic performance in the first half of 2026?
    The robust recovery of the manufacturing-processing industry, services, and investment sectors, along with the positive impact of pro-growth policy measures, have contributed to this positive performance.

    What are the main drivers expected to support the Vietnamese economy’s expansion in the coming years?
    Factors such as recovering domestic demand, sustained investment inflows, pro-growth policies, and accelerated infrastructure development are expected to remain the principal drivers supporting the country’s economic expansion.

  • Vietnam’s Gold Prices Tumble: Global Market Trends and Implications Explored

    Vietnam’s Gold Prices Tumble: Global Market Trends and Implications Explored

    Gold prices in Vietnam witnessed another slump on Monday afternoon, following an earlier decrease of 0.2% in the same session. Saigon Jewelry Company reported a fall in the price of gold bars by 0.82% from the morning rate, settling at VND146 million (US$5,552.39) per tael. This resulted in an overall loss of approximately 1% for the day.

    Additionally, the price of gold rings also declined by 1%, reaching VND145 million per tael. It should be noted that a tael is equivalent to 37.5 grams or 1.2 ounces.

    Global Gold Price Trend

    Internationally, gold prices remained stable on Monday. Investors worldwide were assessing the influence of the escalating tensions between the U.S. and Iran on oil prices. Concurrently, U.S. Federal Reserve policymakers hinted at potential interest rate hikes to alleviate inflationary pressure.

    The spot price of gold lingered at $4,018.75 per ounce. Meanwhile, U.S. gold futures for August delivery slightly advanced by 0.1%, reaching $4,023.20.

    UBS analyst Giovanni Staunovo noted the negative correlation between gold and oil prices. He stated that market players are vigilantly monitoring the developments in the Middle East. Staunovo predicted a weaker dollar would bolster gold prices in the next 6 to 12 months, with expectations of the precious metal surpassing the $5,000 per ounce mark.

    Questions & Answers

    How much did gold prices in Vietnam fall on Monday?
    Gold prices in Vietnam fell by approximately 1% on Monday.

    What is the recent global trend in gold prices?
    Globally, gold prices have remained steady. However, the impact of the U.S.-Iran conflict on oil prices and possible interest rate hikes by the U.S. Federal Reserve are being closely observed by investors.

    What are the predictions for gold prices in the future?
    According to Giovanni Staunovo, a UBS analyst, a weaker dollar is expected to support an increase in gold prices over the next 6 to 12 months, potentially moving above the $5,000 per ounce mark.

  • Vietnam Customs Expedite Clearance for Durian, Other Ag Exports: A Boost for Border Trade

    Vietnam Customs Expedite Clearance for Durian, Other Ag Exports: A Boost for Border Trade

    In a bid to streamline border operations and facilitate smoother trade of agricultural goods, particularly durian exports, Vietnam’s Department of Customs has instructed its local sub-departments to hasten customs clearance processes at border checkpoints.

    This directive, which was issued recently, calls for the regional customs branches to provide maximum assistance and ensure same-day clearance of exported agricultural, forestry, and fishery products. This is to be implemented even outside standard operational hours. Furthermore, the order advised the appointment of officers to oversee export shipments and handle customs procedures, even during off-hours, such as evenings, weekends, and public holidays.

    Sub-departments have been directed to swiftly resolve any issues that may arise during customs clearance. Should the situation exceed their jurisdiction, they are to promptly refer the matter to the department for further guidance.

    Cooperation and Coordination

    The directive also emphasized the need for collaboration with warehouse and storage operators at border gates. This collaboration is essential to ensure the availability of proper facilities for the storage and sorting of goods awaiting export. This measure will help maintain the quality of agricultural, forestry, and fishery products.

    Regular updates regarding the progress of agricultural, forestry, and fishery exports are required, along with offering timely information and advice to exporters using local border gates. Coordination with relevant authorities is needed to control traffic and prevent congestion that could disrupt customs clearance.

    Constant dialogue is also critical with customs authorities at corresponding Chinese border gates. This is to ensure the swift resolution of issues that may arise during customs clearance, as well as keeping Vietnamese exporters abreast of any changes to China’s customs management and inspection policies for compliance assurance.

    For shipments that have exited Vietnam but are denied entry into China, customs authorities have been asked to prioritize and expedite re-import procedures based on the request of enterprises.

    The department has also explicitly forbidden any acts of obstruction, harassment, or unnecessary delays in customs clearance, which could escalate costs and result in losses for businesses.

    Questions & Answers

    What is the main aim of the directive issued by Vietnam’s Department of Customs?
    The aim is to expedite customs clearance at border gates for agricultural exports, particularly durian shipments, and to ensure smooth trade operations.

    How will the regional customs sub-departments facilitate this process?
    They are instructed to provide maximum assistance, ensure same-day clearance of exports, resolve issues promptly, and maintain regular communication with corresponding Chinese border gates.

    What measures are being taken to prevent potential issues during customs clearance?
    The sub-departments must coordinate with warehouse and storage operators at border gates for appropriate facilities, provide regular updates, inform exporters of changes in China’s customs policies, and prioritize re-import procedures for rejected consignments.

  • US Dollar Stumbles Against Vietnamese Dong Amid Market Turbulence

    US Dollar Stumbles Against Vietnamese Dong Amid Market Turbulence

    In the unofficial trading market on Saturday morning, the U.S. dollar experienced a decline against the Vietnamese dong. The greenback was sold 0.04% lower at VND26,410 at these non-official trading spots. Meanwhile, Vietcombank, a significant financial player in the region, maintained its rate at VND26,490.

    A Global Perspective on the Dollar’s Performance

    Worldwide, the performance of the dollar on Friday was relatively stable, but it concluded the week on a lower note. This downtrend was attributable to the moderate U.S. inflation data which resulted in traders reducing their expectations of immediate rate hikes from the Federal Reserve.

    Mounting tension between Iran and the U.S. became a crucial factor impacting the global economy. The recent week-long escalation has significantly undermined the peace agreement established last month. This development has incited investors to seek sanctuary in the dollar and has also contributed to the surge in oil prices to nearly one-month highs.

    The plummeting of the tech-dominated global equity market and the ongoing disturbance to the traffic in the Strait of Hormuz have incited a rush to safety. Elias Haddad, the global head of markets strategy at Brown Brothers Harriman, mentioned this. He also noted the U.S. dollar had recouped some of its losses from this week and that global bond yields had marginally decreased.

    Questions & Answers

    What was the impact of the U.S. inflation data on the dollar?
    The moderate U.S. inflation data led traders to reduce their bets on impending rate hikes from the Federal Reserve, which resulted in the dollar ending the week on a lower note.

    What are the effects of the escalating tension between Iran and the U.S.?
    The escalating tension between Iran and the U.S. has encouraged investors to seek refuge in the dollar and has also pushed oil prices to near one-month highs.

    How did the tech-led global equity market’s performance affect the U.S. dollar?
    The decline in the tech-led global equity market has triggered a flight to safety, helping the U.S. dollar to recover some of its losses from the week.

  • Every Halfs $8M Series A Brews Excitement for Vietnamese Coffee Sector Expansion

    Every Halfs $8M Series A Brews Excitement for Vietnamese Coffee Sector Expansion

    Every Half, a Vietnamese coffee chain, recently raised $8 million in a Series A funding round with participation from current investors Openspace Capital and DSG Consumer Partners. This funding will be utilized to fuel the company’s expansion across Vietnam, enhance its vertically integrated supply chain, and extend its packaged coffee business.

    Diversifying Operations and Expanding Reach

    Simultaneously, the company is diversifying its portfolio beyond traditional coffee shops. It is investing in coffee farming, proprietary fermentation technologies, e-commerce, and business-to-business distribution. Currently, 36 stores are operating under the Every Half umbrella in various Vietnamese cities such as Ho Chi Minh City, Hanoi, Danang, and Hoi An. The company is predicted to nearly triple its revenue this year. In addition to its in-store offerings, Every Half has broadened its consumer product selection, selling roasted coffee beans and brewing tools online and exporting to countries like Singapore, Thailand, and Taiwan.

    The recent funding round builds upon prior investments made by Openspace and DSG Consumer Partners, following an undisclosed seed round in 2024 and a pre-Series A financing round worth $3 million last year.

    Every Half was established in 2021 by ex-executives of The Coffee House, Vo Duy Phu and Tran Le Minh Truc. The company aims to promote Vietnamese specialty coffee globally through a business model that covers sourcing, processing, roasting, and retailing.

    Transforming Vietnamese Coffee Industry

    When Openspace invested in Every Half in 2024, it praised the company’s vision of transforming Vietnamese coffee from a simple exported commodity into a globally recognized premium brand. The investment firm also praised the founders’ expertise in coffee sourcing, product development, and retailing. DSG Consumer Partners shared a similar sentiment, highlighting the company’s focus on specialty coffee, sustainable sourcing, and brand building as primary drivers of its long-term growth.

    Questions & Answers

    What will the recently secured funds be used for by Every Half?
    The funds will be used to accelerate Every Half’s expansion across Vietnam, deepen investment in its vertically integrated supply chain, and scale its packaged coffee business.

    What diversification strategies is Every Half employing?
    Every Half is expanding its operations beyond cafes to include coffee farming, proprietary fermentation technology, e-commerce, and business-to-business distribution.

    What was the vision behind the founding of Every Half?
    Founded by Vo Duy Phu and Tran Le Minh Truc, Every Half was created with the aim of showcasing Vietnamese-grown specialty coffee on a global scale, traversing operations from sourcing, processing, and roasting to retail.

  • Chloé Debuts First Luxury Boutique in Vietnam, Enriching Ho Chi Minh Citys Shopping Landscape

    Chloé Debuts First Luxury Boutique in Vietnam, Enriching Ho Chi Minh Citys Shopping Landscape

    Chloé, an esteemed French luxury fashion house, has recently established its first store in Vietnam, nestled within a bustling shopping complex in the heart of Ho Chi Minh City. The brand, recognized for its romantic, free-spirited and distinctly feminine aesthetic, was a pioneer in the luxury ready-to-wear sector since its conception in 1952 by Gaby Aghion. Today, Chloé is part of the impressive portfolio of the Swiss luxury conglomerate Richemont.

    First Footprints in Vietnam

    In mid-June, Chloé made its debut in the Vietnamese market, facilitated through an exclusive distribution agreement with Duy Anh Fashion and Cosmetics (DAFC). Situated on the first floor of the Saigon Centre, the new boutique sports the brand’s signature Parisian elegance juxtaposed with its free-spirited femininity. The store offers a carefully curated selection of Chloé’s iconic products, including leather goods, footwear, and ready-to-wear collections.

    In Vietnam, DAFC is recognized as a leading luxury retail distributor, controlling more than 70% of the high-end fashion and cosmetics market. The company manages the distribution of products from over 60 international luxury fashion and cosmetic brands, operating more than 50 stores throughout the country.

    Questions & Answers

    What is Chloé known for?
    Chloé is renowned for its romantic, free-spirited, and feminine aesthetic, and is a pioneer in the luxury ready-to-wear fashion sector.

    Where is Chloé’s first Vietnam store located?
    Chloé’s first Vietnam store is located on the first floor of the Saigon Centre, a prominent shopping complex in Ho Chi Minh City.

    Who is the distributor for Chloé in Vietnam?
    Duy Anh Fashion and Cosmetics (DAFC) is the exclusive distributor for Chloé in Vietnam.

  • Revolutionizing Employee Health: LivWell Broadens Wellness Ecosystem in Vietnam with Innovative InsurTech Solutions

    Revolutionizing Employee Health: LivWell Broadens Wellness Ecosystem in Vietnam with Innovative InsurTech Solutions

    LivWell, a leading Singapore-based InsurTech firm, has announced plans to broaden its OneHealth employee benefits scheme in Vietnam. The expansion includes the development of specialized insurance solutions, focused on various health conditions.

    The company’s decision to expand its services and offerings was announced during a strategic conference held in Ho Chi Minh City, where LivWell also revealed new partnership agreements with InSmart and DiaB.

    Revolutionising Health and Wellness Benefits

    LivWell aims to transform OneHealth from a traditional employee benefits solution, primarily focused on medical expense reimbursement, into a comprehensive healthcare platform. This integrated platform is aimed at consolidating preventive care, financial protection and long-term health support.

    This all-inclusive platform combines numerous elements of health, including insurance, healthcare services, wellness incentive programs, and health monitoring tools, all within a single application.

    For employers, OneHealth delivers a unified view of workforce health and benefits utilization, aiding benefits management. Meanwhile, employees can use the LivWell app to monitor their health indicators while availing themselves of health screenings, workplace wellness activities, and healthcare services.

    Emphasizing the need for proactive health management, Nikhil Verma, Co-Founder and Group CEO of LivWell, said, “We aim to help organizations cultivate healthier workplaces where health is proactively managed and every employee gets the necessary support throughout their wellness journey.”

    Enhancing Workplace Productivity and Reducing Out-of-Pocket Expenses

    LivWell cited studies to illustrate that a staggering 70% of adults believe wellness programs boost workplace productivity. However, Vietnamese households continue to pay nearly 39.5-40% of healthcare expenses out of pocket, despite having public and private health coverage. This figure starkly contrasts with the World Health Organization’s recommended out-of-pocket expenses in the range of 15-20%.

    LivWell’s partnerships with InSmart and DiaB aim to address these issues. The collaboration allows users to submit insurance claims and monitor benefits through the LivWell app, in addition to providing remote consultations, personalized nutrition guidance, and chronic disease management services.

    Additionally, LivWell announced plans to create insurance products specifically for individuals with certain health conditions, starting with cancer. Noting the financial burden of cancer treatment, the company mentioned that patients often pay up to 70% of the treatment cost by themselves.

    Balakrishnan Ambat, Co-Founder and CEO of LivWell Vietnam, reiterated the company’s commitment to not only providing for treatment costs but also encouraging healthier lifestyles to prevent illness.

    LivWell’s expanded ecosystem and future condition-focused insurance products intend to contribute to the evolution of employee health benefits in Vietnam, by aiding businesses in investing in workforce wellbeing and expanding access to healthcare services throughout different life stages.

    Since 2020, LivWell has served over 320,000 users and supported more than 450 businesses, including small and medium-sized enterprises, with employee benefits and wellness programs.

    Questions & Answers

    What is LivWell’s OneHealth?
    OneHealth is an employee benefits solution by LivWell. The company plans to transform it into a comprehensive healthcare platform integrating preventive care, financial protection, and long-term health support.

    What are some of the features of the OneHealth platform?
    OneHealth combines health insurance, healthcare services, wellness incentive programs, and health monitoring tools within a single application. It provides employees with health screenings, workplace wellness activities, and healthcare services.

    What is the aim of LivWell’s partnerships with InSmart and DiaB?
    The collaborations with InSmart and DiaB will allow users to submit insurance claims and monitor benefits through the LivWell app. They will also provide remote consultations, personalized nutrition guidance, and chronic disease management services.

  • Vietnam Gold Prices Hit Two-Week Downtrend Amidst Global Market Shifts

    Vietnam Gold Prices Hit Two-Week Downtrend Amidst Global Market Shifts

    On Tuesday, Vietnam witnessed its lowest gold prices since the start of July, resulting from a decline in worldwide prices due to escalating tensions in the Middle East. The price of a gold bar from the Saigon Jewelry Company fell 0.88%, to VND147.1 million (equivalent to US$5,604.76) per tael. In Vietnam, a tael is a unit of weight equivalent to 37.5 grams or 1.2 ounces.

    Gold Market Trends

    The price of gold rings also saw a decrease, falling by 0.54% to VND146 million per tael. The drop in gold prices this year has amounted to a 3.7% decrease overall.

    On the worldwide stage, after experiencing a 3% drop on Monday, gold prices made a minor recovery. This was following an announcement by U.S. President Donald Trump that he was re-establishing a naval blockade on Iran. This action led to a rise in oil markets, renewed fears about inflation, and the potential for the longevity of higher U.S. interest rates. As a result, spot gold increased by 0.28% to $4,011.10 per ounce.

    Expert Insights

    Market analyst at Forex.com, Fawad Razaqzada, commented on the situation, explaining that the rally in oil prices was a result of the conflict in the Middle East and suggested policy tightening by the Federal Reserve. He also noted that these developments spelled bad news for assets like gold, which yield no interest.

    Razaqzada further speculated, “If oil prices continue to surge, gold prices might experience a downfall, potentially dropping to the $3,800 level initially. There is also a chance they could drop to $3,500 over time if the selling pressure intensifies.”

    Questions & Answers

    What caused the drop in Vietnam’s gold prices?
    The decrease was primarily due to a dip in global gold prices, spurred by increased tensions in the Middle East.

    How has the global gold market reacted to recent events?
    After a 3% plunge on Monday, global gold prices have slightly recovered following the US President’s decision to reinstate a naval blockade on Iran.

    What impact could rising oil prices have on the gold market?
    According to market analysts, if oil prices continue to surge, gold prices could potentially drop significantly, possibly down to $3,500 over time if the selling pressure increases.

  • Home Credit Vietnam Triumphs Again: Wins Coveted Finance and Sustainability Awards for 2026

    Home Credit Vietnam Triumphs Again: Wins Coveted Finance and Sustainability Awards for 2026

    Home Credit Vietnam has been awarded ‘Finance Company of the Year’ for the second consecutive year, and also received the ‘Sustainability Initiative of the Year’ at the Asian Banking & Finance Retail Banking Awards 2026. The awards acknowledge the company’s robust business performance, as well as its endeavors in financial inclusion, promoting environmentally friendly consumption, and fostering community development.

    Striving for Sustainable Growth

    The FiinGroup’s Vietnam Consumer Finance Report 2026 indicates that Vietnam’s consumer finance market is evolving, with a shift in focus towards the quality of growth, operational efficiency, and risk management in the wake of a period of market instability. In this context, Home Credit Vietnam has consistently invested in augmenting its governance capabilities and integrating technology into its operations and customer service. The company has fortified its credit assessment models and digital systems, which has facilitated quicker processing of applications and honed loan portfolio management.

    Moreover, the company has crafted financial solutions tailored to diverse customer segments, considering their repayment capacity, and has enhanced the transparency of product information and loan terms to aid customers in making more informed borrowing decisions. These efforts have culminated in Home Credit Vietnam receiving the ‘Finance Company of the Year’ award, which acknowledges financial institutions based on their operational performance and adaptability to fluctuating market conditions. The company’s 2025 financial statements reveal a 36.8% increase in total assets compared to the start of the year, with an after-tax profit of VND2.077 trillion (US$79 million).

    Embedding Sustainability in Business Practices

    Pham Ngoc Khang, the Chief Strategy Officer and Chairman of Home Credit Vietnam’s ESG Steering Committee, emphasized that sustainable development forms a key part of the company’s long-term strategy. He asserted that a company’s growth should align with the interests of customers and communities, as financial solutions are truly meaningful only when they improve the quality of life and broaden people’s access to financial services.

    The company’s sustainability strategy, which was recognized by the ‘Sustainability Initiative of the Year’ award, centers on increasing access to responsible finance, promoting green consumption, and supporting community development. In 2025, Home Credit Vietnam launched preferential financing packages for electric motorcycles to spur the use of zero-emission transportation. They also broadened their financial literacy initiatives. By the end of 2025, the company’s Home Smart online platform had reached over 21 million people, and they had organized personal finance management workshops for over 4,000 students and women.

    Questions & Answers

    What awards did Home Credit Vietnam receive at the Asian Banking & Finance Retail Banking Awards 2026?
    Home Credit Vietnam was recognized as ‘Finance Company of the Year’ for the second year in a row and also received the ‘Sustainability Initiative of the Year’ award.

    What are some of the initiatives Home Credit Vietnam has undertaken to promote sustainable growth?
    The company has been investing in enhancing its governance capabilities, integrating technology into its operations, and crafting tailor-made financial solutions for diverse customer segments. They have also increased the transparency of product information and loan terms to aid customers in making informed decisions.

    What is the focus of Home Credit Vietnam’s sustainability strategy?
    The sustainability strategy of the company involves expanding access to responsible finance, promoting green consumption, and supporting community development. They have launched financing packages for electric motorcycles and extended their financial literacy initiatives to promote responsible lending.

  • VinFast Vietnam Doubles Capital to $388M, Streamlining Global Auto Design and Sales

    VinFast Vietnam Doubles Capital to $388M, Streamlining Global Auto Design and Sales

    VinFast Vietnam, a budding organization specializing in the design and sale of VinFast vehicles, recently increased its capital funds substantially. The company doubled its capital from VND5.18 trillion to VND10.18 trillion, equivalent to US$388 million, by issuing 500 million preference shares. This significant financial move was announced on July 13 via the National Business Registration Portal. Alongside this, it was revealed that foreign ownership within the company has seen a decline from 10.4% to 5.3%.

    Company Restructuring and Roles

    The creation of VinFast Vietnam was initiated on June 19, following the sale of the automaker’s manufacturing operations, VFTP, to Tuong Lai Company. This company is financially backed by billionaire Pham Nhat Vuong along with a group of investors. VinFast Vietnam has been assigned the responsibilities of global research and development, managing after-sales services, and overseeing sales operations.

    The managerial roles within VinFast Vietnam have been clearly delineated. Pham Nhat Vuong, the founder of the parent organization, serves as the company’s CEO. On the other hand, Thai Thi Thanh Hai, a seasoned executive from Vingroup, has been appointed as the chairwoman.

    Questions & Answers

    What led to the creation of VinFast Vietnam?
    The company was established after the sale of automaker manufacturing operations, VFTP, to Tuong Lai Company.

    What are the primary responsibilities of VinFast Vietnam?
    The company is in charge of global research and development, after-sales services, and sales operations.

    Who are the key executives of VinFast Vietnam?
    Pham Nhat Vuong serves as the company’s CEO, while Thai Thi Thanh Hai is the chairwoman.

  • VinFast Shatters Records with Over 115,000 EVs Sold in H1 2026: Dominates Vietnamese Auto Market

    VinFast Shatters Records with Over 115,000 EVs Sold in H1 2026: Dominates Vietnamese Auto Market

    In the first six months of 2026, Vietnamese electric vehicle manufacturer VinFast marked significant growth in the domestic market, reporting a 72% year-on-year increase with a record preliminary domestic delivery of 115,916 electric vehicles (EVs). This impressive performance positions VinFast as the first automotive brand in Vietnam to exceed 100,000 vehicle deliveries within the first half of the year.

    VinFast’s Strong Market Presence

    The month of June alone saw the delivery of 17,955 units, maintaining VinFast’s status as the country’s top automobile brand for the 21st consecutive month. With the Limo Green leading in sales with 3,868 vehicles delivered in June, closely followed by the VF 3 model which saw 3,550 units moving into the hands of customers.

    The success of the VF 5 and its derivative model, the Herio Green, continued with combined deliveries reaching 3,364 units. This was ahead of the VF 6’s total of 2,988 units. The VF 7 and the VF MPV 7 models also had a steady sales performance with 1,437 and 1,254 units delivered respectively.

    Over the span of six months, the Limo Green and the VF 3 emerged as VinFast’s leading models in the Vietnamese market with cumulative deliveries of 27,927 and 23,781 units respectively. Furthermore, the VF 5 and the Herio Green saw a combined delivery of 20,167 vehicles. Other models such as the VF 6, VF MPV 7, and VF 7 also maintained a steady performance with 14,045, 9,177, and 6,849 units delivered respectively.

    New Arrival in the Product Line

    VinFast is not just resting on its laurels. The automaker recently unveiled the VF 2, a compact urban EV, and has opened pre-orders in Vietnam with a price tag of VND188 million (US$7,200). Deliveries to customers are scheduled to begin as early as September.

    Questions & Answers

    What milestone did VinFast achieve in the first half of 2026?
    VinFast became the first automotive brand in Vietnam to surpass 100,000 vehicle deliveries within the first half of the year.

    What are the top-selling models of VinFast in Vietnam?
    The Limo Green and the VF 3 are the top-selling models of VinFast in Vietnam, with cumulative deliveries of 27,927 and 23,781 units respectively in the first half of 2026.

    What is the latest model introduced by VinFast?
    VinFast recently introduced the VF 2, a compact urban EV, which is currently available for pre-orders in Vietnam.

  • Vietnam’s Sparkling Affair: $121.5M Diamond Imports in H1 2026, India Emerges as Top Supplier

    Vietnam’s Sparkling Affair: $121.5M Diamond Imports in H1 2026, India Emerges as Top Supplier

    In the first half of 2026, Vietnam saw diamond imports totalling an estimated US$121.5 million. Of this figure, India emerged as the main supplier, accounting for approximately 52% of the total imports, around $63.2 million. This figure is a significant increase compared to the previous year, where diamond imports from India totalled $107.6 million over the year.

    Other Notable Diamond Suppliers

    Belgium, another key player in the diamond market, came in second as a supplier. The country’s diamond exports to Vietnam amounted to $17.9 million, a decrease from the previous year’s total export value of $51.7 million. Israel followed closely as the third largest supplier with $9 million worth of diamond imports. Botswana and Thailand completed the list of top five suppliers, with imports valued at $7.7 million and $5.1 million, respectively.

    Other noteworthy suppliers to Vietnam included the U.S., contributing $3.6 million worth of diamonds, Hong Kong at $2.8 million, Japan at $2.7 million, and finally China at $2.2 million.

    Under current regulations, the Department of Customs stated that rough diamonds can only be imported from markets that participate in the Kimberley Process Certification Scheme (KPCS). The accompanying shipment must have a valid KPCS certificate issued by the appropriate authority of the exporting market, and it must comply with all customs documentation and clearance procedures.

    Customs authorities bear the responsibility of examining documentation, inspecting consignments, issuing certificates for imported rough diamond, and managing imports in line with the law. Customs clearance is executed based on import declarations, KPCS certificates, and other relevant documents submitted by importers.

    Recent Diamond Smuggling Incident

    These import figures have come under public scrutiny following the recent crackdown on a significant cross-border diamond smuggling operation. This operation, dismantled by police in the central province of Thanh Hoa, led to charges against 22 suspects and the seizure of 1,100 diamonds. According to police reports, the network had conducted 141 smuggling operations since 2024, trafficking more than 28,000 diamonds from Hong Kong into Vietnam. The estimated turnover of this operation was VND280 billion (roughly US$10.6 million).

    Questions & Answers

    Who is Vietnam’s largest diamond supplier in the first half of 2026?
    India was Vietnam’s largest diamond supplier in the first half of 2026, accounting for 52% of total imports.

    What is the Kimberley Process Certification Scheme (KPCS)?
    The KPCS is a scheme that regulates the trade of rough diamonds, ensuring the diamonds are legally mined and sold, to prevent the sale of conflict diamonds.

    What were the details of the recent diamond smuggling incident in Vietnam?
    A major cross-border diamond smuggling operation was recently dismantled by police in the central province of Thanh Hoa. The operation had trafficked more than 28,000 diamonds from Hong Kong into Vietnam since 2024, netting an estimated turnover of VND280 billion (roughly US$10.6 million).