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Tag: Vietnam

  • Vietnams Gold Market Faces Steep Dive amid Global Bullion Rate Decline

    Vietnams Gold Market Faces Steep Dive amid Global Bullion Rate Decline

    Wednesday saw a dip in gold prices in Vietnam, tracking a global decline in bullion rates. Saigon Jewelry Company, a notable player in the market, reported a 0.92% decrease in gold bar prices, which dropped to VND162 million (US$6,144.5) per tael.

    Fluctuations Across Markets

    Simultaneously, the price of gold rings also experienced a dip, declining by 1.1% to VND161.5 million per tael. To put things into perspective, a tael is equivalent to 37.5 grams or around 1.2 ounces.

    On the global stage, gold prices edged lower on Wednesday. This downturn was propelled by factors such as rising Treasury yields and a strengthening dollar, which outweighed the optimism stirred by the prospect of a peace agreement between the U.S. and Iran.

    Spot gold saw a 0.3% decrease to $4,467.59 per ounce, hitting its lowest level since March 30 in the previous trading session. Concurrently, U.S. gold futures for June delivery registered a loss of 0.9%, dropping to $4,471.10.

    Contributing Factors

    Certain economic factors also influenced these price fluctuations. The ongoing conflict with Iran has escalated price pressures, triggering a sell-off in global bond markets. This has pushed the 30-year U.S. Treasury yields to levels unseen since the precursor period to the 2007 global financial crisis.

    In tandem with these events, the dollar maintained its position at a six-week high. This, in turn, made bullion priced in the greenback more costly for those holding other currencies.

    According to Tim Waterer, Chief Market Analyst at KCM Trade, the current backdrop of rising yields and a rejuvenated dollar, driven by a hawkish shift in rates outlook, is potentially reducing the appeal of gold as an investment.

    Questions & Answers

    What is the significance of the price of a tael in relation to gold prices?
    The price of a tael, equivalent to 37.5 grams or 1.2 ounces, is an important measure for gold prices, particularly in markets like Vietnam.

    How did the global economic climate affect gold prices?
    Rising Treasury yields and a strong dollar, coupled with the potential peace agreement between the U.S. and Iran, have led to a decrease in global gold prices.

    What factors are currently affecting the appeal of gold as an investment?
    Increasing yields and a revitalized dollar, prompted by a hawkish shift in rates outlook, are reducing the attractiveness of gold as an investment.

  • Shopee Slapped with $7700 Penalty for Misleading Free Shipping Promotions in Vietnam

    Shopee Slapped with $7700 Penalty for Misleading Free Shipping Promotions in Vietnam

    Shopee, Singapore’s leading online retail platform, has recently been penalized VND200 million (US$7,700) by the Vietnam Competition Commission (VCC) due to deceptive advertising practices linked to a free shipping campaign initiated in August 2025.

    Confusing Advertising Practices

    The charge came after the e-commerce giant used phrases like “Free Shipping for All Orders,” “Everything Ships Free,” and “Wherever We Deliver, Shipping Is Free for All Orders,” in their promotional materials. Despite disclaimers outlining the conditions for the free shipping offer, several advertisement interfaces didn’t fully disclose the terms and exclusions, leading to confusion amongst customers.

    During the promotional period, roughly 94% of orders were shipped free of charge. The remaining orders either obtained partial shipping discounts or no discount at all due to non-compliance with the required conditions.

    Throughout the investigation, Shopee was cooperative, providing necessary information and documents to the VCC. Apart from the financial penalty, the online platform has updated information on its website, mobile application, and related social media pages to rectify this.

    Addressing the Issue and Future Plans

    Shopee has expressed its commitment to review and enhance the transparency of its communication strategies moving forward. This is with the aim of ensuring that details about promotional campaigns are precise and comprehensive.

    Despite the penalty, Shopee continues to be a formidable force in the Southeast Asian e-commerce landscape. A 2025 report shows the platform managed to sustain its dominant position within Vietnam’s online retail marketplace. It accounted for a staggering 58% market share, registering a gross merchandise value of over $11.8 billion. Competitor platforms, TikTok Shop, Lazada, and Tiki collectively made up the remaining market share.

    Questions & Answers

    What was the cause of the fine imposed on Shopee?
    Shopee was penalized due to misleading advertising related to a free shipping promotion. The company failed to clearly outline the conditions and exclusions of this offer.

    What steps has Shopee taken following the penalty?
    Shopee has rectified the information on its website, mobile application, and social media pages. Additionally, it is committed to improving the transparency of its communication activities for better clarity on promotional campaigns.

    Despite the penalty, how is Shopee performing in the e-commerce market?
    Shopee continues to lead in the Southeast Asian e-commerce market, particularly in Vietnam. In 2025, it recorded a gross merchandise value of over $11.8 billion and accounted for a 58% market share.

  • Vietnams Gold Market Slumps as Bullion Rates Plummet Globally

    Vietnams Gold Market Slumps as Bullion Rates Plummet Globally

    Gold prices in Vietnam fell on Friday morning, reflecting a global decline in bullion rates across the fourth consecutive trading session. This price drop was seen in the Saigon Jewelry Company’s gold bar, which reported a 0.6% decrease to VND164 million (approximately US$6,221.31) per tael. Despite this recent decrease, the local bullion rates have still seen an overall increase of 7.3% since the beginning of the year, even with a 2% decrease this week.

    Gold Ring Prices and Global Gold Rates

    Along with the decrease in gold bar prices, the cost of gold rings also fell by 0.6% to VND163.8 million per tael. In terms of weight, a tael is equivalent to 37.5 grams or 1.2 ounces.

    Internationally, gold prices were at a more than one-week low on Friday, resulting from higher energy prices driving inflation fears and the continuation of higher interest rates. The meeting between the U.S. President and the Chinese President was also a point of focus for investors. Spot gold saw losses for the fourth straight session and was down 0.8% at $4,613.19 per ounce, marking its lowest level since May 6. Bullion was down 2.1% for the week and U.S. gold futures for June delivery lost 1.4% to $4,619.

    Factors Impacting the Gold Market

    Analysts have attributed the drop in gold prices to several factors. Tim Waterer, chief market analyst at KCM Trade, remarked, “Gold is getting hit from all sides – rising oil has brought inflation back to the forefront, pushing yields higher and the dollar stronger, leaving the yellow metal as the unfortunate victim of the market’s renewed rate-cut skepticism.”

    Since the U.S.-Iran conflict began in late February, gold has fallen about 13%. This is largely due to increased energy prices, which have led to inflation concerns and higher U.S. interest rates. While gold is often viewed as a safe haven against inflation, high interest rates can negatively impact this non-yielding asset.

    Questions & Answers

    What caused the recent decline in Vietnam’s gold prices?
    The decline mirrors a global decrease in bullion rates. Factors such as higher energy prices, inflation fears and higher interest rates have contributed to this decrease.

    How has the U.S.-Iran conflict impacted gold prices?
    Since its onset in late February, the conflict has sparked an approximate 13% decrease in gold prices. This is due to increased energy prices, inflation concerns, and the potential for higher U.S. interest rates.

    How do interest rates affect gold prices?
    High interest rates typically lead to a decrease in gold prices. This is because gold, as a non-yielding asset, becomes less attractive to investors when interest rates are high.

  • Jollibees Aggressive Franchise Expansion in Vietnam Bolsters Quick-Service Restaurant Market Dominance

    Jollibees Aggressive Franchise Expansion in Vietnam Bolsters Quick-Service Restaurant Market Dominance

    Jollibee, a leading Philippine fast-food company, is stepping up its franchising efforts in Vietnam, aiming to expand its presence in one of Southeast Asia’s most fiercely contested quick-service restaurant (QSR) markets. The move follows the brand’s prestigious recognition as Vietnam’s foremost QSR brand by Euromonitor International.

    Franchising Expansion Strategy

    Jollibee launched its franchising model in Vietnam in 2015, effectively inviting capable local investors to manage Jollibee-branded outlets under a standardized operating system. Initial expansion was carried out cautiously as the brand worked to establish scale and maintain operational control. However, the company has now shifted gears to a more assertive growth phase, primarily targeting quicker network expansion.

    Franchising not only facilitates the company’s accelerated growth but also generates more employment opportunities, fortifies the domestic supply chain, and aids in the advancement of Vietnam’s food and beverage service industry, according to a representative from the company.

    This renewed drive towards franchising is spurred by Jollibee’s recent accolade as Vietnam’s top QSR brand in terms of turnover, as awarded by Euromonitor International.

    Growing Footprints Across Vietnam

    Since the establishment of its first store in Ho Chi Minh City in 2005, Jollibee Vietnam has grown to encompass more than 250 locations dispersed across over 50 provinces and cities. The company’s expansion has been fueled by a diverse strategy that includes outlets in shopping malls, street-front locations, and delivery-centric stores.

    Ernesto Tanmantiong, Global President and CEO of Jollibee Group, attributed the brand’s success to its understanding of local consumers and its adherence to fundamental business practices. He asserted that the company’s progress underscores the potency of merging a popular brand with a profound local understanding and consistent execution. It further strengthens their belief that sustainable growth in international markets stems from remaining relevant to consumers while establishing solid operational foundations.

    Questions & Answers

    When did Jollibee first introduce franchising in Vietnam?
    Jollibee introduced franchising in Vietnam in 2015.

    What factors have supported Jollibee’s expansion in Vietnam?
    Jollibee’s expansion has been supported by a multi-format strategy that includes outlets in shopping malls, street-front locations, and delivery-centric stores.

    What is the significance of franchising for Jollibee’s growth?
    Franchising not only facilitates Jollibee’s accelerated growth but also generates more employment opportunities, fortifies the domestic supply chain, and aids in the advancement of Vietnam’s food and beverage service industry.

  • HBO Go Bids Farewell to Vietnam, Makes Way for HBO Max Arrival

    HBO Go Bids Farewell to Vietnam, Makes Way for HBO Max Arrival

    HBO Go, the previously ubiquitous streaming service, will officially withdraw its operations from Vietnam as of June 15. Its absence will pave the way for the introduction of HBO Max, a formidable competitor to streaming giant Netflix.

    The HBO Go service was first introduced to the Vietnamese market in 2019, targeting cable, satellite, and live TV streaming subscribers who were already receiving HBO channels as part of their television package. However, the service was discontinued in multiple markets in 2020, and replaced by HBO Max. This new platform allows users to access the full range of HBO content without a cable TV connection.

    In Vietnam, the termination of HBO Go also implies the end of collaborations with local streaming platforms such as TV360 and VieON. A noticeable change is already apparent on TV360, which now presents a “Failed” notification upon attempts to subscribe to a new HBO package. However, users can continue to view HBO content through traditional television channels via cable and satellite services.

    An anonymous industry analyst suggests that this strategic move is most likely intended to enable American film studio Warner Bros. to introduce HBO Max in direct competition with Netflix. The HBO Max homepage now displays a Vietnamese language notice teasing its launch on June 16.

    The HBO Go platform had gained traction among Vietnamese viewers with popular original series such as Game of Thrones and House of the Dragon, and films produced by Warner Bros.

    Questions & Answers

    What is happening to HBO Go in Vietnam?
    HBO Go will cease operations in Vietnam as of June 15, and be replaced by HBO Max.

    What changes are expected with the introduction of HBO Max?
    HBO Max will allow users to access a broad range of HBO content without the need for a cable TV connection. The service is seen as a strong competitor to Netflix.

    Will users still be able to view HBO content via traditional channels?
    Yes, HBO content can still be accessed through traditional television channels on cable and satellite services.

  • Dollar Gains Momentum Against Dong Amid Rising Global Tensions and Strong US Jobs Data

    Dollar Gains Momentum Against Dong Amid Rising Global Tensions and Strong US Jobs Data

    The U.S. dollar started the week on a strong note, gaining against the Vietnamese dong as well as several other major global currencies. Vietcombank, one of Vietnam’s leading banks, experienced an increase in the value of the dollar, selling it at 26,373 VND, a 0.02% rise from its previous weekend rate. The currency also saw a significant increase in the black market, where it rose by 0.18% to around 26,569 VND.

    Global Market Trends

    The strengthening of the U.S. dollar was not limited to Vietnam but was observed globally, thanks to strong U.S. employment data released the week prior. This, coupled with the precarious U.S.-Iran ceasefire, increased the demand for the dollar as a safe-haven currency.

    In the early Asia trade on Monday, the dollar index, which gauges the strength of the U.S. dollar against a basket of six major currencies, was trading at 98.001. Other major currencies saw a slight decrease in their value against the U.S. dollar. The euro dropped 0.2%, trading at $1.1767, while the yen and the British pound slipped 0.1% and 0.3% to trade at 156.905 yen per dollar and $1.3597 respectively.

    Risk-sensitive currencies like the Australian dollar and its New Zealand counterpart, also known as the kiwi dollar, experienced a dip as well, falling by 0.2% and 0.3% to $0.7234 and $0.5948 respectively.

    This trend was seen amid growing geopolitical tensions, with U.S. President Donald Trump rejecting Iran’s response to a U.S. peace talk proposal. This has cast a shadow over the possibility of a swift end to the ongoing 10-week conflict.

    Questions & Answers

    What contributed to the strengthening of the U.S. dollar?
    The U.S. dollar’s strength was bolstered by strong employment data from the U.S. and the increasing demand for the dollar as a safe-haven currency due to the uncertain U.S.-Iran ceasefire.

    How did other major global currencies perform against the U.S. dollar?
    Several global currencies saw a slight decrease in their value against the U.S. dollar. The euro dropped 0.2%, the yen and the British pound slipped 0.1% and 0.3% respectively. The Australian and New Zealand dollars also fell by 0.2% and 0.3%.

    What are the implications of U.S. President Donald Trump rejecting Iran’s response to a U.S. peace talk proposal?
    The rejection has heightened geopolitical tensions and created uncertainty in global financial markets, thereby increasing the demand for the U.S. dollar as a safe-haven asset.

  • Vietnams Gold Market Slumps as Global Tensions Stoke Inflation Fears

    Vietnams Gold Market Slumps as Global Tensions Stoke Inflation Fears

    On Monday afternoon, there was a further decline in the gold prices in Vietnam, following a nearly 1% decrease earlier in the day. The gold bar prices offered by Saigon Jewelry Company experienced a drop of an additional 0.42% from the morning’s price, settling at VND165.2 million (US$6,276.26) per tael, marking a total loss of 1.37% for the day.

    Local bullion prices currently stand at around VND17 million per tael higher than the global gold prices.

    Changes in Gold Ring Prices

    Similarly, the cost of gold rings experienced a decrease in price, dropping at roughly the same rate and settling at VND164.7 million per tael. In Vietnam, a tael is equivalent to 37.5 grams or 1.2 ounces.

    On a global scale, gold prices experienced a 1% decrease on Monday. This was triggered by President Donald Trump’s rejection of Iran’s recent peace proposal, aimed at ending the ongoing conflict in the Middle East. This rejection has led to a heightened fear of inflation and a prolonged period of high interest rates.

    Spot gold saw a decrease of 1% to $4,667.99 per ounce, following a rise of approximately 2% during the previous week. U.S. gold futures for June delivery experienced a loss of 1.1% to stand at $4,677.80.

    The Impact of the Middle East Conflict on Gold Prices

    The failure to reach an agreement to end the Middle East conflict has led to sustained inflation risks and expectations of high-interest rates. This in turn has put pressure on the non-yielding bullion, which has seen a drop of over 11% since the inception of the war in late February.

    According to Han Tan, chief market analyst at Bybit, there could be more downward pressure on gold prices if the U.S. Consumer Price Index (CPI) prints prove to be hotter than anticipated tomorrow. This could force the Federal Reserve to maintain high benchmark rates for an extended period.

    Questions & Answers

    **What is the current price of gold bars offered by Saigon Jewelry Company?**
    The current price per tael is VND165.2 million (US$6,276.26).

    **How much has the price of non-yielding bullion dropped since the start of the war in the Middle East?**
    The price of non-yielding bullion has dropped more than 11% since the war began in late February.

    **How might the U.S. Consumer Price Index impact the price of gold?**
    If the U.S. Consumer Price Index prints come in hotter than expected, it could result in more downward pressure on gold prices, with the Federal Reserve being forced to maintain high benchmark rates for a longer period.

  • BHC Chicken: Korean Fried Chicken Giant Sets Sights on Vietnam for Southeast Asian Growth

    BHC Chicken: Korean Fried Chicken Giant Sets Sights on Vietnam for Southeast Asian Growth

    BHC Chicken, a renowned fried chicken brand originating from South Korea, is setting its sights on broadening its reach within Southeast Asia, with plans to launch in Vietnam. This move is part of an ongoing expansion strategy that is rapidly growing the brand’s presence across the region.

    The brand’s parent entity, Dining Brands Group, recently formalized its plans to venture into Vietnam, sealing a master franchise agreement with Singaporean company Hao Open Foods. This strategic partnership is set to facilitate the brand’s launch and consequent operations in Vietnam.

    In terms of expansion, the company has set its sights on major cities within Vietnam, such as Ho Chi Minh City, Hanoi, and Da Nang. The brand’s ambitious growth plan anticipates the establishment of 50 locations within these cities over the course of the next decade.

    Founded in 2004, BHC Chicken holds a position of prominence among South Korea’s top fried chicken chains. With a robust network of over 2,000 stores, its reach extends beyond the domestic market. The brand has significantly leveraged franchise partnerships to successfully penetrate international markets, with a presence in countries like Singapore, Malaysia, and Thailand.

    In addition to its planned expansion into Vietnam, BHC Chicken is also preparing to make its debut in the Philippines later this year, further solidifying its foothold in Southeast Asia.

    Questions & Answers

    What is the expansion plan of BHC Chicken in Vietnam?
    BHC Chicken plans to establish a presence in key Vietnamese cities, with an aim to open 50 locations over the next 10 years.

    Who is BHC Chicken’s franchise partner for its Vietnam launch?
    BHC Chicken is partnering with Singaporean company Hao Open Foods for its expansion into Vietnam.

    Is BHC Chicken planning expansions to other countries?
    Yes, apart from Vietnam, BHC Chicken is reportedly preparing to launch in the Philippines later this year.

  • Vietnam Stocks Break Records: VN-Index Hits 1,909.01 Points Amidst Market Surge

    Vietnam Stocks Break Records: VN-Index Hits 1,909.01 Points Amidst Market Surge

    On Thursday, Vietnam’s principal stock index, VN-Index, concluded trading at an unprecedented high of 1,909.01 points. This represented a 0.94% increase from the previous day’s closing figure. Trading activity on the Ho Chi Minh Stock Exchange, which is the platform where the index is listed, surged by 26%, amounting to a total value of VND30 trillion (US$1.14 billion).

    Key Movers on the VN-Index

    In the VN30 index, which represents the 30 most significant capped stocks, 13 stocks registered gains. Leading the pack were STB of the Ho Chi Minh City-based Sacombank and VHM of the real estate titan Vinhomes, each recording a substantial 7% increase. Other notable gainers included LPB of Fortune Vietnam Bank, which climbed 3.6%, and HDB of HDBank, which closed 3.4% higher.

    However, not all stocks shared in these gains. Thirteen stocks in the VN30 index ended the day in negative territory, with the most significant drop being GAS of state-owned Petrovietnam Gas, which fell by 4%. Other significant losses were registered by DGC of Duc Giang Chemicals Group, which slipped 3.4%, and PLX of fuel distributor Petrolimex, which ended the day 3.3% lower.

    Foreign Investors’ Activity

    For the eleventh consecutive trading session, foreign investors were net sellers, offloading VND311 billion worth of stocks. Among the stocks most sold by these investors were FPT of tech behemoth FPT Corporation, ACB of Asia Commercial Bank, and KDH of property company Khang Dien House.

    The HNX-Index, representing stocks on the Hanoi Stock Exchange, which is home to mid and small cap stocks, fell by 0.28%. On the other hand, the UPCoM-Index for the Unlisted Public Companies Market finished the day 0.42% higher.

    Questions & Answers

    What was the closing figure for Vietnam’s VN-Index on Thursday?
    The VN-Index closed at 1,909.01 points on Thursday, marking a new peak.

    Which stocks led gains on the VN-Index?
    STB of Sacombank and VHM of Vinhomes led the gains, each with a 7% increase.

    What was the performance of foreign investors on the VN-Index?
    Foreign investors were net sellers for the 11th consecutive session, selling off VND311 billion.

  • US Dollar Grows Stronger Against Vietnamese Dong Amid Global Currency Shifts

    US Dollar Grows Stronger Against Vietnamese Dong Amid Global Currency Shifts

    The U.S. dollar started Wednesday on a stronger note against the Vietnamese dong while simultaneously displaying a slight weakness against other major global currencies. The greenback was traded at VND26,368 by Vietcombank, marking an increase of 0.008% from the previous day. Meanwhile, on the black market, the currency experienced a minor drop of 0.09%, bringing it down to approximately VND26,644.

    Vietnam’s Position and Global Market Movements

    The State Bank of Vietnam reacted by increasing its reference rate by 0.008% to VND25,113. Internationally, the dollar seemed to step back against most of the other major currencies, mostly due to the anticipation of a possible agreement with Iran by the United States. Concurrently, the yen demonstrated a consistent weakening trend, inching closer to the point where Tokyo once had to intervene.

    The dollar index, a measurement of the greenback’s standing relative to a combination of six currencies, fell slightly by 0.01%, rounding off to 98.299.

    Performance against Other Currencies

    The euro and sterling both showed approximately 0.2% growth over the course of the day, trading at $1.1714 and $1.35685 respectively. The Australian dollar also showed an upward trend, fetching $0.7208, which accounted for an increase of nearly 0.4% in early trading. Similarly, the New Zealand dollar saw an increase of 0.3%, making it trade at $0.5905.

    In the case of the yen, the dollar was traded at 157.62 yen. Despite the ongoing fall in oil prices, this was still substantially higher than last week’s intervention low, marking a decrease of 0.17% from U.S. levels.

    Questions & Answers

    What was the trading value of the U.S. dollar against the Vietnamese dong?
    The value of the U.S. dollar against the Vietnamese dong was VND26,368.

    How did the euro and sterling perform against the U.S. dollar?
    Both the euro and sterling displayed an increase of approximately 0.2% against the U.S. dollar.

    What was the change in the dollar index?
    The dollar index, which measures the U.S. dollar’s strength against six other major currencies, fell slightly by 0.01%.

  • Vietnams Gold Market Springs Back: A Resurgence Fueled by Global Bullion Rates and Weaker Dollar

    Vietnams Gold Market Springs Back: A Resurgence Fueled by Global Bullion Rates and Weaker Dollar

    In Vietnam, gold prices rebounded on Wednesday morning from a four-month low, invigorated by a surge in global bullion rates. Saigon Jewelry Company saw an increase of 1.52% in its gold bar price, climbing to VND167.5 million (US$6,365.32) per tael. This upturn comes after the price had hit its lowest point since January 19th on the previous Tuesday.

    Meanwhile, the price of gold rings followed a similar upward trend, rising to VND167 million per tael. For reference, a tael is equivalent to 37.5 grams or 1.2 ounces.

    Global Gold Prices and Influencing Factors

    Internationally, gold prices experienced an increase of over 1% on Wednesday. This was propelled by a weakening dollar and a decrease in oil prices, which alleviated concerns of inflation and protracted high interest rates. Another contributing factor was the burgeoning hope for peace between the United States and Iran.

    Spot gold experienced a rise of 1.7%, costing $4,633.31 per ounce, while U.S. gold futures for June delivery also jumped 1.7% to $4,643.20.

    The former U.S. President Donald Trump announced a temporary halt to an operation assisting ships through the Strait of Hormuz on Tuesday. This decision was influenced by advancements toward a comprehensive agreement with Iran. Following the announcement, the U.S. dollar and crude oil prices declined. This led to a situation where dollar-priced metals became cheaper for holders of other currencies.

    Kelvin Wong, a senior market analyst at OANDA, shared insights on the situation. He suggested that any resurfacing of tensions could lead to profit-taking in gold prices, or short-term speculators unwinding their near-term net long position in gold.

    Questions & Answers

    What is behind the recent rebound in Vietnam’s gold prices?
    The rebound in Vietnam’s gold prices is largely due to an increase in global bullion rates.

    What factors are contributing to the rise in global gold prices?
    Factors such as a weakening dollar, easing oil prices, and the prospect of a peace deal between the United States and Iran are contributing to the rise in global gold prices.

    How could a potential re-escalation of tension between the United States and Iran impact gold prices?
    If tensions were to surge again, there is a possibility that it could lead to profit-taking in gold prices or short-term speculators unwinding their near-term net long position in gold.

  • Citi Strengthens Bonds with Vietnam: A New Era of Financial Growth and Digital Transformation

    Citi Strengthens Bonds with Vietnam: A New Era of Financial Growth and Digital Transformation

    Catherine Simmons, a significant figure in the U.S.-ASEAN Business Council, shared her insights following a recent delegation visit to Hanoi. Simmons discussed the importance of the visit, the financial sector’s key messages, and Citi’s future forecasts for Vietnam.

    Assessing the Importance of the Delegation Visit

    Simmons classified the visit as both relevant and substantive. It provided the first opportunity for a public-private dialogue between the freshly appointed Vietnamese government and the U.S. business community, allowing for an early engagement to reaffirm the private sector’s commitment to Vietnam’s ongoing development.

    The visit saw the participation of 52 U.S. companies and 120 delegates, showcasing the strong and growing interest in Vietnam. Not only is Vietnam perceived as a strategic supply chain hub and a domestic market with a population over 100 million, but it’s also viewed as a key long-term growth opportunity in the region.

    As for Citi, the delegation visit provided an excellent opportunity to strengthen its relationship with policymakers and reinforce its long-standing commitment to Vietnam.

    Key Takeaways from the Dialogue with Vietnamese Government

    During the discussions, the financial services industry – represented by Citi, ClearOne, Manulife, Warburg Pincus, Mastercard, and Visa – highlighted the importance of a modern, connected, and robust financial system for economic infrastructure. They expressed their support for Vietnam’s initiatives to further digital transformation, regulatory modernization, and innovation in both public and private sectors.

    The group also urged for ongoing consultations with industry stakeholders as Vietnam formulates laws and policies that will impact the financial markets. They showed their readiness to offer technical expertise and practical solutions to issues concerning settlement infrastructure, payments interoperability, cross-border data flows, and alignment with international standards.

    These issues are crucial to Vietnam at this time as the country is at a critical development stage. As it integrates deeper into the global markets, it will need a more advanced financial infrastructure to sustain increasing investment flows, broader capital market participation, and the evolving needs of a rapidly changing digital economy.

    Questions & Answers

    What was the Vietnamese government’s reaction to the delegation’s recommendations?
    The Vietnamese Prime Minister, Le Minh Hung, assured that the government is committed to rapid and sustainable growth. He emphasized that science, technology, innovation, and digital transformation are at the core of their development strategy and called on ministries and agencies to address the issues raised by the delegation promptly.

    What does this visit signify for Citi’s future in Vietnam?
    The visit gave Citi an opportunity to strengthen its relationships with various government ministries and agencies in Vietnam. In addition to providing financial services, the bank contributes to policy dialogue, supports market development, and facilitates connections to global capital and trade flows. Citi views Vietnam as a strategically important market with significant opportunities to support the country’s growth as reforms continue.

    What is the potential impact of the delegation’s visit on the U.S.-Vietnam relations?
    The delegation’s visit signifies an important step towards strengthening U.S.-Vietnam relations. Its success has laid the groundwork for continued engagement between policymakers and the business community, reflecting Vietnam’s clear ambition to modernize and strengthen economic competitiveness.

  • Unlock Summer 2026 with Vietjet: 11 million promo fares, up to 100% off base fares and gold rewards

    Unlock Summer 2026 with Vietjet: 11 million promo fares, up to 100% off base fares and gold rewards

    Vietjet is rolling out a major Summer 2026 promotion, offering 11 million tickets with discounts of up to 100% on base fares. Promotional fares are available for booking from now until 00:59 on 8 May 2026. As part of the campaign, Vietjet is offering 10 million Deluxe tickets at 30% off (excluding taxes and fees) across its flight network for travel through 31 August 2026 (*). Passengers can enjoy the offer by applying promo code SALE55DLX during booking. Deluxe fares include up to 20kg of checked baggage, complimentary seat selection, and flexible itinerary changes.

    In addition, one million Eco tickets are available at 100% off (excluding taxes and fees) with promo code SALE55, valid across all Vietjet routes for travel between 5 September 2026 and 31 March 2027 (*). Passengers booking Eco fares during the promotion will also receive 20kg of complimentary checked baggage.

    For travellers in Singapore, the promotion presents an ideal opportunity to plan their next Vietnam getaway, with Vietjet’s direct services from Singapore to Ho Chi Minh City, Hanoi, Da Nang and Phu Quoc. From vibrant city breaks and cultural escapes to relaxing beach holidays, travellers can choose from a wide range of destinations or plan longer multi-stop journeys across Vietnam.
    To further enhance the summer campaign, passengers who complete a successful booking between now and 19 May 2026 (GMT+8) will receive a lucky draw entry code for the “Fly Vietjet, Strike Gold” program (**). Prizes include one tael of 999.9 gold, silver, e-vouchers worth up to VND 15 million (approx. SGD 725), and other rewards.

    With an extensive network spanning Vietnam and key international destinations, Vietjet continues to connect travellers to vibrant cities in Southeast Asia, as well as Australia, China, India, Japan, South Korea, and beyond. The airline invites passengers to explore new destinations and cultural experiences this summer.

    On board, Vietjet offers a selection of fresh, hot meals and signature Vietnamese dishes such as pho, banh mi, and Vietnamese iced coffee, alongside a variety of international cuisine. Flights are operated by a modern fleet and supported by professional cabin crews, delivering a comfortable and enjoyable travel experience.

    (*) Travel periods and conditions may vary by route. Blackout dates may apply. Please refer here.
    (**) For more details about the “Fly Vietjet, Strike Gold” program, please refer here.

  • China’s Retail Titan Meiyijia Debuts in Vietnam as Ohmee, Eyes Southeast Asia Expansion

    China’s Retail Titan Meiyijia Debuts in Vietnam as Ohmee, Eyes Southeast Asia Expansion

    China’s leading convenience store chain, Meiyijia, is propelling its expansion into Southeast Asia with the launch of its first stores in Vietnam under a fresh international brand, Ohmee.

    Marking the company’s maiden retail venture beyond China, three stores have already been established in Vietnam’s capital city, Hanoi. Ohmee has plans for further growth through franchising, adopting the successful business model that allowed Meiyijia to rapidly scale to a massive network of stores within its domestic market.

    Meiyijia’s Impressive Growth

    Meiyijia, birthed in Guangdong in 1997, has evolved into one of China’s most powerful convenience store chains. It boasts a vast network exceeding 40,000 stores. The key drivers of the company’s domestic growth have been its dense urban coverage and high supply chain efficiency.

    The Retail Landscape in Vietnam

    The convenience store market in Vietnam is dominated by major chains such as Circle K, GS25, Ministop, and 7-Eleven. With its entry into this competitive market, Meiyijia, under its Ohmee brand, intends to make a significant impact. Reports suggest that the company’s expansionary activities are not limited to Vietnam, with Malaysia also being on their radar.

    Questions & Answers

    What is Meiyijia’s new overseas brand called?
    The new overseas brand is called Ohmee.

    Where has Meiyijia opened its first stores outside of China?
    Meiyijia has opened its first stores outside of China in Vietnam’s capital, Hanoi.

    Which other Southeast Asian country is Meiyijia reportedly expanding into?
    Meiyijia is reportedly expanding into Malaysia.

  • Vietnam Airlines Sees 30% Q1 Profit Surge to $171M Amid Strong Tet Demand and European Expansion

    Vietnam Airlines Sees 30% Q1 Profit Surge to $171M Amid Strong Tet Demand and European Expansion

    In the first quarter, Vietnam Airlines experienced a surge in pre-tax profits, reaching over VND4.5 trillion (US$171 million), a 30% increase compared to the same period last year. This substantial growth is attributed to high demand during the Tet holiday and the introduction of new European routes.

    Rising Revenue

    The airline’s consolidated revenues witnessed a 23% rise, totaling VND37.5 trillion. The Lunar New Year’s peak travel season, typically spanning from mid-January to mid-February, contributed significantly to this growth. Daily flights during this period numbered between 660 and 670, marking a 13% increase from the previous Tet season in 2025.

    New European Destinations

    International expansion also significantly bolstered the airline’s performance, especially the addition of fresh European destinations to its schedule. The revenue from international services experienced a 28.6% increase, a stark contrast to the mere 2.9% uptick in domestic revenues.

    At present, Vietnam Airlines operates 11 direct flights to Europe. It has plans to launch a Hanoi-Amsterdam service in June and boost the Hanoi-Moscow service to four flights each week from July, up from the current three flights per week.

    In the first quarter, the airline transported over 6.9 million passengers across nearly 43,000 flights, showing a year-on-year growth of 12% and 11% respectively.

    Future Concerns

    Despite the turbulence in global energy markets caused by conflicts in the Middle East since early March, Vietnam Airlines’ performance in the first quarter remained largely unaffected. However, the airline foresees potential challenges in the second quarter due to rising fuel prices.

    By late April, Jet A1 fuel prices were estimated at $190-220 per barrel, approximately three times the regular levels, occasionally even exceeding $240. A $1 per barrel increase in fuel prices adds an additional VND300 billion to Vietnam Airlines’ yearly costs.

    In response to these challenges, the airline plans to maintain flexible operations and optimize crucial domestic and international routes.

    Questions & Answers

    What factors contributed to the surge in Vietnam Airlines’ pre-tax profits?
    The significant increase in pre-tax profits can be attributed to high demand during the Tet holiday and the addition of new European routes.

    How is Vietnam Airlines planning to handle the potential challenges due to rising fuel costs?
    The airline plans to maintain flexible operations and optimize key domestic and international routes to mitigate risks associated with increasing fuel prices.

    What future plans does Vietnam Airlines have for its European services?
    The airline plans to launch a Hanoi-Amsterdam service in June and increase the frequency of the Hanoi-Moscow service to four times per week, up from the current three, starting from July.