For years, Vietnam has ranked among the world’s highest in crypto adoption. Millions of Vietnamese own digital assets. Startups build blockchain products. Developers contribute to global Web3 projects.

Yet legally, the market has largely existed in a gray zone.

That is beginning to change.

Rather than asking whether crypto should exist, policymakers are now asking a different question:

How can Vietnam regulate digital assets without losing innovation?

The answer is emerging through a series of legal documents released over the past two years forming what may become Vietnam’s first comprehensive regulatory framework for crypto assets.

This isn’t simply another fintech story.

It’s about how Vietnam is attempting to formalize an industry worth billions while balancing innovation, investor protection, financial stability, and anti-money laundering obligations.

From “No Legal Status” to a Regulatory Framework

For many years, cryptocurrencies in Vietnam were neither recognized as legal assets nor prohibited outright.

People could buy, hold, and trade crypto through overseas exchanges, but businesses lacked legal certainty. Investors had little protection. Regulators had limited oversight.

Instead of rushing into legalization, Vietnam chose a gradual approach.

Today, at least six major legal milestones are collectively shaping the country’s crypto market.

According to Luật Việt Nam, these documents now form the backbone of Vietnam’s emerging crypto regulatory framework.

The Six Legal Milestones

1. Digital Technology Industry Law

The first major breakthrough was defining digital assets within Vietnam’s legal system.

Instead of treating every blockchain token the same, lawmakers began distinguishing between:

• Digital assets

• Crypto assets

• Other digital products

This seemingly technical distinction is important.

Without a legal definition, ownership, taxation, licensing, dispute resolution, and enforcement become extremely difficult.

The law creates the legal vocabulary necessary for future regulations.

2. Resolution No. 05/2025/NQ-CP

This is arguably the centerpiece of Vietnam’s crypto strategy.

Rather than immediately opening a nationwide market, the government opted for a controlled pilot program.

The Resolution establishes rules covering:

• issuance of crypto assets

• trading platforms

• custody services

• licensing

• supervision

• investor protection

• AML/CFT compliance

Most importantly, Vietnam is choosing regulation before mass adoption, rather than attempting to regulate after the market becomes too large.

3. Strict Licensing Requirements

Vietnam isn’t inviting everyone to launch a crypto exchange.

The pilot imposes some of the region’s most demanding requirements.

Among them:

• Vietnamese-incorporated company

• minimum charter capital of VND 10 trillion

• servers located in Vietnam

• comprehensive risk management procedures

• cybersecurity standards

• AML systems

• customer protection mechanisms

The message is clear:

Vietnam wants institutional players not lightly regulated exchanges.

4. Investor Protection Comes First

Many crypto markets developed rapidly before introducing safeguards.

Vietnam is attempting the opposite.

The framework requires:

• information disclosure

• internal controls

• transaction monitoring

• custody procedures

• complaint handling

• conflict-of-interest management

After licensed service providers begin operating, domestic investors will eventually be required to trade through licensed entities rather than unregulated channels.

That significantly increases regulatory visibility.

5. Compliance with International Standards

Another recurring theme throughout the framework is anti-money laundering.

The regulations emphasize compliance with:

• AML

• counter-terrorism financing

• cybersecurity

• electronic transactions

• data protection

This matters because Vietnam has been working to strengthen its financial regulatory system in line with international expectations.

Crypto regulation is therefore not only about innovation but also about international credibility.

6. A Regulatory Sandbox Instead of Immediate Liberalization

Perhaps the most interesting policy choice is what Vietnam didn’t do.

The government did not simply legalize all crypto activities.

Instead, it adopted a sandbox approach:

• test

• monitor

• evaluate

• adjust

This reflects a broader trend seen in fintech regulation globally.

Innovation is encouraged but within carefully supervised boundaries.

What This Means for Businesses

For blockchain startups, the biggest change isn’t that crypto becomes “legal.”

It’s that regulatory uncertainty begins to shrink.

Companies can start planning around:

• licensing

• compliance

• custody

• token issuance

• investor eligibility

• operational requirements

Foreign investors also gain greater visibility into how Vietnam intends to govern digital assets.

While the framework remains restrictive, predictability itself is valuable.

Why This Matters Beyond Crypto

Vietnam’s approach reveals a broader policy philosophy.

Rather than choosing between:

• innovation or

• regulation,

the government is attempting to build both simultaneously.

That mirrors Vietnam’s broader strategy in sectors such as fintech, AI, semiconductor manufacturing, and digital technology:

encourage innovation but under increasingly formal regulatory structures.

Crypto is simply the latest example.

Vietnam Operations Take

For years, Vietnam was one of the world’s largest crypto markets without a clear legal framework.

Now, the conversation is shifting.

The government’s focus is no longer whether crypto exists it clearly does.

The challenge is how to integrate it into the formal economy without undermining financial stability or investor confidence.

Whether the pilot succeeds remains to be seen.

But one thing is increasingly clear:

Vietnam is no longer watching the crypto industry from the sidelines. It’s beginning to design the rules of the game.

For years, visitors have shared the same observation about Hanoi:

“The city is beautiful but after 10 p.m., there’s not much left to do.”

That may soon change.

Hanoi is moving to establish a comprehensive legal framework for its night-time economy, signaling a shift beyond simply extending business hours. Instead, the capital is positioning the night as a new economic frontier one capable of driving tourism, urban productivity, and long-term growth.

From a Vietnam Operations perspective, this is more than a tourism story. It’s about how cities maximize the value of their existing assets.

A Night Economy Is More Than Late-Night Bars

According to recent policy announcements, Hanoi is implementing a series of initiatives to accelerate the development of its night-time economy, including:

• Establishing a dedicated legal framework for night-time businesses and tourism.

• Piloting extended operating hours in selected districts, with some areas proposed to remain open until 6:00 a.m.

• Developing new night tourism products and experiences.

• Expanding cultural, entertainment, retail, and commercial activities after dark.

• Integrating the night economy into urban planning, transportation, security, and environmental management.

What’s noteworthy is that the discussion is no longer about allowing businesses to close later.

It’s about building an entire economic ecosystem that operates after dark.

This Is Really About Urban Productivity

At Vietnam Operations, we often view policy through an operational lens rather than simply a regulatory one.

A city that remains economically active for another six to eight hours every day can generate significantly greater returns from the same infrastructure.

That means:

• Commercial properties produce revenue for longer.

• Hotels benefit from higher visitor spending and potentially longer stays.

• Restaurants, cafés, retailers, entertainment venues, and mobility services all gain additional business hours.

• Public infrastructure is utilized more efficiently.

• New employment opportunities emerge across hospitality, transportation, retail, security, and creative industries.

In other words, the city increases the economic output of assets it has already invested in.

This is fundamentally a story about improving urban productivity, not simply extending operating hours.

Simply Staying Open Later Isn’t Enough

Many cities have discovered that a successful night economy cannot be built by allowing bars and restaurants to close at 2 a.m. instead of midnight.

The real differentiator is the experience.

A thriving night-time economy requires an integrated ecosystem that includes:

• Reliable late-night public transport

• Strong public safety and policing

• Clean streets and waste management

• Adequate parking infrastructure

• Cashless payment systems

• Cultural performances and live entertainment

• Museums and attractions with evening programs

• Night markets and festivals

• High-quality food and beverage offerings

Without these supporting elements, longer business hours simply extend retail activity rather than creating a genuine night economy.

The Red River Could Become Hanoi’s New Night-Time Destination

One of the most ambitious proposals is the development of the Red River landscape corridor as a major night-time economic zone.

If implemented successfully, the area could evolve into a destination featuring:

• Waterfront dining

• Cultural festivals

• Light shows

• Live performances

• Walking streets

• Night markets

• Riverfront tourism experiences

Around the world, many cities have transformed their waterfronts into vibrant economic districts that continue generating activity well after sunset.

Hanoi appears to be pursuing a similar vision.

The Business Opportunity Extends Far Beyond Tourism

If the regulatory framework continues to evolve, the beneficiaries will extend well beyond hotels and tour operators.

Industries likely to benefit include:

• Hospitality

• Food & Beverage

• Retail

• Convenience stores

• Entertainment

• Event management

• Mobility services

• Digital payments

• Security services

• Smart city technology providers

• Property developers

For investors, this represents a broader signal.

Hanoi is beginning to shift from regulating nightlife to developing a night-time economy.

Those are fundamentally different policy objectives.

Vietnam Operations’ Perspective

Vietnam’s next phase of growth cannot rely solely on attracting more foreign direct investment or building additional industrial parks.

Large cities must also find ways to increase the economic value generated by every square meter of land, every public asset, and every hour of operation.

The night economy represents one of the most practical ways to achieve that.

The challenge is no longer whether Hanoi should allow businesses to remain open until 6 a.m.

The real question is:

Can Hanoi create enough reasons for people to want to stay until sunrise?

If the answer is yes, the city’s night economy may become one of Vietnam’s most important urban growth stories over the next decade.

Why one overseas Vietnamese entrepreneur believes Vietnam’s next growth opportunity isn’t another gym but a new way of thinking about recovery.

Vietnam’s fitness industry has expanded rapidly over the past decade. New gyms, boutique studios, and fitness chains continue to appear across major cities as more Vietnamese embrace active lifestyles.

But for Tran James, an Australian Vietnamese entrepreneur, one part of the equation still feels largely overlooked.

“What happens after the workout?”

That question became the starting point for Somni, a wellness center in Ho Chi Minh City focused not on exercise itself, but on recovery, longevity, and preventive health.

Bringing a Western Wellness Model to Vietnam

Born and raised in Australia, James spent part of his childhood in Vietnam before returning to Australia to study and build his career. For nearly ten years, he worked as a massage therapist specializing in musculoskeletal treatment and physical recovery.

Through that experience, he noticed a growing trend in Western countries: wellness was no longer just about fitness. Recovery had become part of everyday health management.

Technologies such as oxygen therapy, red light therapy, saunas, and cold plunge pools were increasingly used not only by professional athletes, but also by office workers, entrepreneurs, and people simply looking to maintain long-term health.

After returning to Vietnam around 18 months ago, he saw an opportunity to introduce that concept to a market where it remains relatively new.

Instead of opening another traditional gym, James launched Somni around the idea of Longevity Wellness helping people recover better, reduce stress, and invest in their health before problems appear.

A Different Kind of Customer Experience

Somni officially entered its soft-opening phase earlier this year in Ho Chi Minh City’s District 2.

Today, around 80% of its customers are expatriates who have previously experienced similar wellness concepts overseas.

The business also avoids one common practice in Vietnam’s fitness industry: locking customers into long-term contracts.

Instead, membership options are designed to remain flexible, reflecting the lifestyles of entrepreneurs and professionals who frequently travel between cities or countries.

For James, wellness isn’t just about technology.

It’s also about service.

His vision is for every customer to feel personally recognized from staff remembering names to understanding individual preferences and wellness goals.

Building in Vietnam: Fast Construction, Slow Paperwork

Like many overseas Vietnamese founders, James found Vietnam to be a country of contrasts.

Construction moved remarkably quickly, allowing the project to come together faster than he expected.

Administrative procedures, however, proved to be a different story.

Licensing, tax processes, and government paperwork remain heavily dependent on physical documents, creating a slower experience than the digital systems he had become accustomed to in Australia.

He also found it challenging to identify contractors who fully understood international design standards and could translate Western wellness concepts into finished spaces.

Beyond Opening One Center

For James, Somni is only the beginning.

His long-term goal is to develop the brand into a premium wellness concept integrated with resorts and hospitality destinations across Vietnam over the next few years.

More importantly, he hopes to introduce a different mindset toward health.

Rather than treating wellness as something people think about only after injuries or illness, he believes recovery, preventive care, and longevity will become increasingly important as Vietnam’s middle class continues to grow.

The Bigger Picture

James’ journey reflects a broader trend that Vietnam is seeing today.

Many overseas Vietnamese are returning not simply to invest capital, but to bring back business models, operational standards, and consumer ideas shaped by years abroad.

Some of those ideas require education before they can scale.

But as Vietnamese consumers become wealthier and more health-conscious, concepts like preventive wellness may no longer be niche they could become part of the country’s next wave of lifestyle businesses.

For entrepreneurs returning home, the opportunity may not lie in reinventing Vietnam’s market.

It may simply be introducing what already works elsewhere and adapting it to local habits.

For years, northern Vietnam has quietly become one of Asia’s fastest growing manufacturing regions.

Samsung, LG, Foxconn, Pegatron, Goertek, Luxshare and hundreds of supporting suppliers have transformed Bac Ninh, Hai Phong, Hai Duong and Quang Ninh into an export powerhouse.

But one challenge has remained consistent:

The port infrastructure has struggled to keep pace with manufacturing growth.

That may now be changing.

A Nearly VND25 Trillion Bet on Vietnam’s Next Growth Phase

Lach Huyen International Logistics & Industrial Park (LHF) and PSA Vietnam part of Singapore’s PSA International, one of the world’s largest port operators have announced a strategic partnership to jointly develop four new deep water container berths at Lach Huyen Port in Hai Phong.

When fully completed, the project is expected to handle 4.5 million TEU annually, making it one of the largest container terminals in northern Vietnam.

According to project information, the first two berths are expected to begin construction at the end of 2026, while the remaining two will be developed in a second phase through 2035.

This Is Bigger Than Just Four New Berths

On the surface, the announcement looks like another infrastructure investment.

In reality, it represents something much larger.

Vietnam is no longer competing simply by offering lower labor costs.

Its next competitive advantage depends on how efficiently goods move from factories to global markets.

Every hour saved at a port reduces logistics costs.

Every additional direct shipping route reduces dependence on regional transshipment hubs.

Every increase in port capacity gives manufacturers greater confidence to expand production in Vietnam.

As manufacturing scales up, logistics becomes a competitive advantage not just supporting infrastructure.

Why PSA’s Participation Matters

PSA International is not simply a financial investor.

It operates some of the world’s busiest container terminals and manages an extensive global network connecting shipping lines, ports and logistics ecosystems.

When an operator like PSA commits long-term capital, it usually signals confidence that cargo volumes will continue growing for decades rather than years.

For multinational manufacturers already operating in northern Vietnam, this reduces concerns about future port congestion while strengthening international connectivity.

Instead of viewing Hai Phong merely as a domestic gateway, global shipping companies increasingly see it as an important regional logistics node.

Supporting Vietnam’s Manufacturing Shift

Northern Vietnam has become one of Southeast Asia’s most important electronics manufacturing clusters.

However, manufacturing growth has consistently placed pressure on logistics infrastructure.

Larger vessels require deeper channels.

Higher export volumes require faster cargo handling.

Increasing trade requires greater terminal capacity.

Without corresponding investments, port bottlenecks eventually become economic bottlenecks.

This project directly addresses that challenge.

Part of a Much Larger National Strategy

The timing is also significant.

Vietnam’s national seaport master plan to 2050 identifies several internationally important gateway ports, with Hai Phong expected to play a central role in northern Vietnam’s import-export network.

The government’s objective extends beyond increasing cargo throughput.

It aims to strengthen Vietnam’s position within regional supply chains by attracting larger vessels, expanding international shipping services and improving logistics efficiency.

The Real Story Isn’t About Ports

The real story is about confidence.

Global manufacturers invest where they believe infrastructure can support future expansion.

Shipping companies build routes where sufficient cargo exists.

Port operators invest where long-term trade growth appears sustainable.

The PSA-LHF partnership reflects all three.

As Vietnam continues moving up the manufacturing value chain, infrastructure investments like Lach Huyen become less about building ports and more about building confidence in Vietnam’s next stage of economic development.

For investors watching Vietnam, this project is another indication that the country’s competitive strategy is evolving.

The conversation is no longer just about labor costs.

It is increasingly about logistics capability, supply chain resilience, and global connectivity.

Just a few months ago, Singapore-based UOB projected Vietnam’s economy would grow 7.0% in 2026. Today, the bank has raised that forecast significantly to 8.5%, following a stronger-than-expected first half of the year.

A 1.5 percentage-point upgrade from one of Southeast Asia’s largest banks is notable. But the headline itself isn’t the most important takeaway.

The real question is: what changed, and what does it tell us about Vietnam’s economy going forward?

Vietnam’s Growth Is Exceeding Expectations

According to Vietnam’s General Statistics Office (GSO), GDP expanded 8.18% in the first six months of 2026, while second-quarter growth accelerated to 8.39%, up from 7.94% in Q1. Those figures exceeded market expectations and prompted UOB to revise its full year GDP forecast upward from 7.0% to 8.5%.

For international investors, this matters because Vietnam is no longer simply recovering from a difficult period it is outperforming expectations while many export-driven economies across Asia continue facing weaker global demand.

Manufacturing Continues to Drive the Economy

One of the clearest signals behind Vietnam’s stronger outlook is that manufacturing remains the country’s primary growth engine.

Industrial production maintained double-digit growth during the first half of the year, supported by continued expansion in manufacturing and processing industries. UOB also highlighted that Vietnam continues to benefit from ongoing global supply chain diversification, resilient electronics exports, and rising demand for AI related hardware.

Rather than being driven purely by domestic consumption, Vietnam’s current expansion remains closely tied to production, exports and foreign investment.

This reinforces a broader trend Vietnam Operations has covered before: Vietnam is becoming increasingly integrated into higher value manufacturing rather than relying solely on low-cost labor.

Public Investment Is Finally Becoming Visible

Another contributor to stronger growth is infrastructure spending.

According to UOB, fixed asset investment increased by more than 15%, supported by faster disbursement of public investment projects. Large scale investments in expressways, airports and logistics infrastructure are beginning to translate into measurable economic output rather than remaining long-term policy announcements.

For manufacturers and foreign investors, this matters because infrastructure determines how efficiently goods move, how quickly factories can be built and which provinces become viable investment destinations.

Infrastructure may not generate headlines like GDP growth, but it often determines whether that growth can be sustained over the long term.

A Trade Deficit Isn’t Necessarily Bad News

One detail that received less attention is Vietnam’s recent trade balance.

The country has now recorded two consecutive quarters of trade deficits, with imports growing faster than exports. On the surface, that may appear concerning.

However, UOB notes that much of the increase comes from higher imports of machinery, industrial equipment, production inputs and energy products goods that support manufacturing expansion rather than consumer spending.

In other words, Vietnam is importing more because businesses are investing more.

That distinction matters.

A trade deficit driven by capital goods often reflects future production capacity rather than weakening competitiveness.

Why UOB Doesn’t Expect Interest Rates to Rise

Despite stronger growth, UOB expects the State Bank of Vietnam to keep monetary policy broadly unchanged through the remainder of 2026.

The reasoning is straightforward.

Inflation remains relatively contained and is moving close to the government’s target range. Meanwhile, much of the remaining inflationary pressure comes from imported energy prices rather than excessive domestic demand.

Raising interest rates would therefore have only limited impact while potentially slowing investment and business activity.

Instead, policymakers appear focused on maintaining macroeconomic stability while supporting continued growth.

Can Vietnam Reach 10% Growth?

Although UOB upgraded its forecast to 8.5%, it still believes the government’s 10% GDP growth target remains ambitious under current global conditions.

The biggest risks remain external rather than domestic:

• Geopolitical uncertainty

• Global trade tensions

• Higher energy prices

• Potential changes to U.S. tariff policies

• Slower growth among major export markets

Vietnam has become more resilient over the past decade, but it remains deeply connected to global supply chains. External shocks will continue to influence its growth trajectory.

The Bigger Story Isn’t the Number. It’s the Direction.

Whether Vietnam ultimately grows by 8.5% or slightly above or below that figure matters less than what is driving the expansion.

The country’s economy is becoming increasingly supported by:

• Advanced manufacturing

• Continued foreign direct investment

• Infrastructure development

• Stronger policy execution

• Integration into technology and AI-related supply chains

These are structural shifts rather than short-term cyclical rebounds.

For businesses evaluating Vietnam, the conversation is gradually changing.

The question is no longer “Is Vietnam growing?”

Instead, it is “Can our business keep pace with how quickly Vietnam is evolving?”

That may prove to be the more important story over the coming decade.

For years, the conversation around women’s networking in Vietnam was largely informal social clubs, hobby groups, or occasional business events.

But as more women step into leadership, entrepreneurship, and independent careers, the demand has shifted. Today, networking is no longer just about expanding contacts. It has become an essential part of career development, knowledge sharing, and long-term professional growth.

Few stories capture that shift better than Trinh Ho, founder of Lady Networking, a community that has grown from a small Facebook group into a structured ecosystem helping thousands of women connect, learn, and build businesses together.

Behind that success, however, is a story that looks very different from the conventional image of a successful entrepreneur.

Success Didn’t Begin with a Perfect Academic Record

Growing up, Trinh Ho was expected to follow a traditional path.

Like many Vietnamese families, her parents hoped she would pursue a stable profession medicine or education. Instead, she chose to study Economics at the Foreign Trade University (FTU), one of Vietnam’s most competitive universities.

University, however, became a difficult chapter.

She quickly lost interest in theoretical learning, skipped classes, accumulated failed courses, and eventually took nine years to complete her bachelor’s degree.

Ironically, while struggling academically, she was already building practical experience.

During her first year, she started working in market research, collecting customer databases, and supporting consumer surveys. By her third year, she was earning around VND 8 million per month from automotive and real estate research projects an impressive income for a university student at the time.

Those early experiences shaped a mindset that would define her career:

Real-world skills, professional relationships, and execution often matter just as much as formal credentials.

A Career Built Through Constant Reinvention

After graduation, Trinh spent approximately five years working in digital media at Kenh14, one of Vietnam’s leading online media platforms.

But employment was never her final destination.

Between 2012 and 2015, she launched a fashion business and operated youth-focused experiential events before selling her ownership stake.

She later became a freelancer specializing in communications, journalism, digital marketing, and influencer campaigns.

Then came the turning point.

In 2017, while investing in serviced apartments to create recurring cash flow, she began building what would eventually become Lady Networking.

The idea was simple.

Vietnam had many women’s groups.

Very few were intentionally designed to help women grow professionally.

Building More Than a Networking Community

Lady Networking was never intended to become another social group.

Instead, Trinh envisioned a platform where women could continuously develop themselves while building meaningful professional relationships.

Today, the community operates through both online and offline channels, functioning almost like a relationship funnel.

Members first join to attend workshops or networking events.

Over time, those interactions evolve into friendships, business partnerships, mentorships, and long-term collaborations.

Its core audience consists primarily of women between 25 and 45 years old professionals, entrepreneurs, and business owners who are actively investing in both their careers and personal development.

Rather than focusing solely on inspiration, Lady Networking offers practical learning opportunities across two major pillars.

The first is personal growth, covering topics such as reading habits, creative thinking, lifestyle design, personal branding, fashion, health, and communication.

The second is career and business development, including workshops on AI adoption, digital marketing, social media algorithms, branding, taxation, entrepreneurship, and business management.

Many sessions are delivered alongside experienced practitioners, allowing members to learn directly from industry experts rather than through purely motivational content.

Community Building Requires More Than Passion

Growing a community is often romanticized.

Keeping one healthy is considerably harder.

For Trinh, the biggest challenge has never been attracting new members.

It has been maintaining culture.

As the community expanded, Lady Networking adopted clear standards for participation.

Members whose behavior repeatedly disrupted the environment were approached privately, sometimes several times, in an effort to understand the underlying issues.

Only when no improvement was possible would they be asked to leave.

That philosophy reflects how the organization is managed.

Rather than treating the community as an informal Facebook group, Trinh approaches it much like an operating business with governance, processes, and long-term sustainability in mind.

Treating Community as a Business

One of Trinh Ho’s strongest beliefs is that communities should no longer rely solely on goodwill.

The traditional mindset of community builders sacrificing personal time without sustainable financial models is becoming increasingly difficult to maintain.

Instead, she argues that communities should generate revenue, develop professional organizational structures, and invest continuously in member experience.

Lady Networking is currently moving toward that direction.

Its long-term vision includes structured departments covering strategy, finance, operations, and community development, supported by annual membership fees that enable sustainable growth.

Perhaps more importantly, Trinh wants to build a system capable of operating independently of its founder.

In other words, success should no longer depend on a single individual.

It should depend on the strength of the framework.

Financial Independence as the Foundation of Freedom

Throughout her entrepreneurial journey, one idea appears consistently.

Financial independence creates personal freedom.

For Trinh, becoming financially self-reliant made it possible to make unconventional career decisions while continuing to support her parents when needed.

She also encourages young professionals to think beyond active income.

Relying solely on client work or freelance projects creates an inherent limitation: income stops when work stops.

Instead, she advocates gradually building income-generating assets whether digital businesses, investments, or cash-flow-producing real estate that continue creating value over time.

A Reflection of Vietnam’s Emerging Community Economy

Lady Networking represents more than the story of one founder.

It reflects a broader transformation happening across Vietnam.

Professional communities are evolving from casual networking groups into structured platforms for education, collaboration, entrepreneurship, and career acceleration.

As Vietnam’s workforce becomes increasingly knowledge-driven, communities are beginning to fill roles traditionally occupied by industry associations, training institutions, and professional organizations.

The future of networking may no longer be defined by exchanging business cards.

It may instead be defined by building ecosystems where people continuously learn, collaborate, and create opportunities together.

For Trinh Ho, that ecosystem is built around one simple belief:

When women are equipped with knowledge, meaningful relationships, and financial independence, they gain something far more valuable than a larger network they gain the ability to shape their own future.

For years, Vietnam’s tax authority has been gradually building a more digital and data-driven tax administration system.

Electronic invoices became mandatory. Tax identification became increasingly integrated with citizen identification numbers. E-commerce platforms began sharing seller information. Banks were already required to provide certain account information upon request.

Now, another important piece has been added.

Starting 1 July 2026, Vietnamese banks are required to provide additional customer information to tax authorities under specified circumstances, including account balances and transactions considered unusual or suspicious, following new implementing regulations under Vietnam’s tax administration framework.

The announcement quickly generated widespread discussion on Vietnamese social media, with many assuming that tax authorities would gain unrestricted access to every citizen’s bank account.

That, however, is not exactly what the regulation says.

The bigger story is how Vietnam is continuing its transition toward a more data-driven tax administration.

What Has Changed?

Under the new regulation, commercial banks may be required to provide tax authorities with customer information including:

• account holder information

• account numbers

• account opening and closing dates

• account balances

• transaction history

• information relating to transactions showing signs of tax law violations or other suspicious indicators prescribed by law.

This information has been widely summarized by Thư Viện Pháp Luật:

VnExpress also notes that the new rules expand the categories of information banks may have to provide to tax authorities under legally prescribed circumstances rather than introducing continuous monitoring of all bank accounts:

Why Is Vietnam Doing This?

The policy reflects a broader direction that has been visible for several years.

As Vietnam’s digital economy expands, tax authorities have increasingly relied on electronic invoices, digital tax filings, and information sharing across government agencies to improve tax compliance.

According to reporting by Tuổi Trẻ, the objective is to strengthen tax administration, particularly for business activities conducted through personal bank accounts, online commerce, and digital platforms rather than creating blanket financial surveillance.

Dân Trí similarly reports that the regulation is intended to improve tax collection efficiency and help authorities detect tax evasion more effectively through financial information when legally required.

Does This Mean Everyone’s Bank Balance Is Being Monitored?

Not necessarily.

One of the biggest misconceptions surrounding the announcement is that tax authorities will automatically have real-time access to every bank account.

The regulation does not say that.

Instead, banks remain subject to legal procedures governing when and how customer information can be shared with tax authorities.

Tiền Phong, citing legal experts, notes that taxpayer information remains protected under banking confidentiality rules and that information sharing must follow the legal framework established by tax administration regulations.

What Counts as a “Suspicious Transaction”?

This has become one of the most widely discussed questions.

Importantly, the regulation does not establish a simple threshold such as “transfers above X million VND.”

Instead, it refers to transactions showing signs of tax law violations or other legally defined suspicious indicators.

As explained in Thư Viện Pháp Luật’s legal Q&A, whether a transaction is considered suspicious depends on legal criteria and context rather than transaction value alone.

Who Will Be Most Affected?

For salaried employees whose income taxes are already withheld through payroll, the practical impact is likely to be limited.

The regulation is expected to have greater implications for:

• online sellers

• freelancers

• influencers

• content creators

• household businesses

• individuals receiving significant business income through personal bank accounts.

Several Vietnamese news outlets, including VnExpress, Tuổi Trẻ, and Dân Trí, point to Vietnam’s growing focus on taxation of the digital economy as the broader policy context behind these changes.

What Does This Mean for Businesses?

Foreign-invested enterprises are unlikely to experience major operational disruption.

Corporate banking transactions are already supported by accounting records, invoices, contracts, and tax filings.

However, businesses should expect stronger consistency checks between:

• accounting records

• tax declarations

• electronic invoices

• banking transactions.

For companies paying contractors or individuals through personal accounts, maintaining complete supporting documentation becomes increasingly important.

A Shift Toward Data-Driven Tax Administration

Rather than viewing this regulation in isolation, it is better understood as another step in Vietnam’s broader digital governance strategy.

Over recent years, Vietnam has introduced:

• nationwide electronic invoices

• digital tax administration

• expanded inter-agency data sharing

• stronger oversight of e-commerce taxation

• greater use of financial data in tax compliance.

Taken together, these reforms point toward a tax system that relies less on manual audits and increasingly on integrated digital information.

For foreign businesses and investors, the message is becoming clearer:

Vietnam is building a tax administration system that is more transparent, more digital, and increasingly capable of verifying financial information across multiple data sources. Compliance, not opacity, will become an increasingly important part of doing business in Vietnam.

For years, Vietnam has been known as one of Asia’s most attractive low-cost manufacturing destinations.

That description is no longer technically correct.

On July 1, 2026, the World Bank officially reclassified Vietnam from a Lower-Middle-Income Economy to an Upper-Middle-Income Economy, after the country’s Gross National Income (GNI) per capita reached US$4,970 in 2025 above the World Bank’s threshold of US$4,636. This annual classification, based on the Atlas Method, is used globally to compare countries’ income levels and development progress.

For many people, this sounds like a symbolic milestone.

For businesses, however, it signals something much bigger.

Vietnam Has Crossed an Important Economic Threshold

The World Bank updates its income classifications every July based on the previous year’s GNI per capita.

Vietnam has remained a lower-middle-income economy since 2009. Reaching the upper-middle-income group means the country’s income level has consistently risen over the past decade despite COVID-19, global inflation, and supply chain disruptions.

According to the World Bank, the upgrade was driven primarily by:

• strong export growth exceeding 15% in both 2024 and 2025;

• GDP growth of approximately 7% in 2024 and 8% in 2025;

• sustained increases in national income per capita.

Does This Mean Vietnam Is Becoming Expensive?

Not necessarily.

One common misconception is that higher income automatically means Vietnam is losing its competitiveness.

That’s only partially true.

Yes, labor costs have increased significantly over the past decade.

But investors rarely choose Vietnam today solely because wages are cheap.

Instead, Vietnam increasingly competes on:

• manufacturing capability

• supply chain resilience

• political stability

• extensive free trade agreements

• improving infrastructure

• availability of skilled labor

This is consistent with what many multinational manufacturers have been doing over recent years expanding operations despite rising labor costs.

The investment story has gradually shifted from “cheap labor” to “efficient production.”

The Upgrade Could Improve Vietnam’s Global Image

Income classification is more than an economic statistic.

It affects how governments, international organizations, banks and multinational corporations perceive a country.

Although the World Bank has clarified that this year’s reclassification does not automatically change its lending policies, moving into the upper-middle-income group generally strengthens a country’s international credibility and may improve investor confidence.

For foreign investors evaluating multiple manufacturing destinations, perception matters.

Being classified alongside countries such as Thailand and Malaysia makes Vietnam appear increasingly mature as an investment destination.

But New Challenges Also Come With Higher Income

Higher income status also raises expectations.

Vietnam now faces increasing pressure to move beyond labor-intensive manufacturing.

Future growth will depend more on:

• productivity improvements

• automation

• digital transformation

• innovation

• higher value-added industries

• stronger domestic enterprises

As incomes rise, competing solely on low wages becomes increasingly difficult.

The next stage of Vietnam’s development will likely depend on whether it can generate greater value not simply produce more goods.

Vietnam’s Long-Term Goal Hasn’t Changed

The World Bank’s upgrade represents an important milestone, but it is not the final destination.

Vietnam’s national development strategy remains ambitious:

• become an upper-middle-income country with a modern industrial base by 2030;

• become a high-income developed economy by 2045.

Achieving those goals will require continued economic reforms, infrastructure investment, productivity gains, and deeper integration into global supply chains.

Final Thoughts

For international businesses, the World Bank’s announcement doesn’t mean Vietnam has become a high-cost country.

Instead, it confirms something many investors have already recognized:

Vietnam is evolving from being one of the world’s cheapest manufacturing locations into one of Asia’s most competitive production economies.

The country’s appeal is becoming less about low wages and more about long-term capability.

For decades, cheap labor was one of Vietnam’s biggest competitive advantages.

It helped attract global manufacturers in textiles, footwear, furniture, and electronics, transforming the country into one of Asia’s fastest-growing manufacturing hubs.

But that advantage is fading.

Today, foreign investors are asking a different question: not “Is labor in Vietnam cheap?” but “Can Vietnam provide the skilled workforce we need?” As one industry expert told Dân trí, investors should focus less on labor costs and more on workforce capability.

Cheap Labor Is No Longer Enough

As Vietnam’s economy has grown, wages have steadily increased alongside living standards. Meanwhile, manufacturers are investing more in automation, digital technologies, and higher-value production, making productivity far more important than labor costs.

This shift has been anticipated for years. Labor experts have warned that Vietnam cannot rely on inexpensive labor forever if it wants to move up the global value chain.

Investors Are Looking for Skills, Not Savings

Modern manufacturers are increasingly evaluating countries based on labor quality rather than labor cost.

Companies are willing to pay higher wages if workers can operate automated production lines, maintain quality standards, and adapt to advanced manufacturing technologies.

As Vietnam attracts more investment in electronics, semiconductors, and precision engineering, demand for skilled workers continues to rise while shortages in technical talent become more apparent.

A New Competitive Advantage

Rising wages should not be viewed as a sign that Vietnam is losing its appeal.

Instead, they reflect the country’s transition toward a more mature economy one that competes through skills, productivity, industrial capability, and higher-value manufacturing, rather than simply offering the lowest labor costs.

For foreign investors, the question is no longer how cheap Vietnam’s workforce is, but whether it can support long-term, high-value operations.

If Vietnam can continue improving education, vocational training, and workforce productivity, the end of the “cheap labor” era may become one of its greatest strengths.

For many people, sharing a news article on Facebook, LinkedIn, or community groups feels harmless.

A headline catches attention.
A useful article appears.
You click “share.”

But starting from July 1, 2026, that simple action may come with a new legal consideration: not every piece of content can be freely reposted or redistributed online.

Vietnam has introduced stricter regulations on social media usage, including penalties for unauthorized sharing of press works, misleading information, and other forms of online content violations.

The question is no longer only:

“Can I share this?”

But:

“Do I have the right to share this?”

The new rule: Copying and reposting articles is no longer a casual activity

Under the new regulation, individuals or organizations that use social networks to provide or share press works without permission from the copyright owner may face fines of up to VND 30 million.

This targets a common online habit:

• Copying an entire news article and posting it on Facebook

• “Rewriting” an article while keeping the original content structure

• Re-uploading journalistic content without authorization

• Using another publication’s content to attract engagement or build a page’s audience

For organizations, the fine may reach VND 30 million.
For individuals, the penalty level is generally lower but the legal risk remains.

Does sharing a news link violate the rule?

This is where many users are confused.

The regulation is not simply saying:

“Never share news.”

The key issue is the form of sharing.

There is a difference between:

✅ Sharing a link to the original article
❌ Copying the entire article and publishing it as your own post

The first supports traffic back to the original publisher.

The second may involve unauthorized reproduction of copyrighted content.

In other words:

Sharing information is not the same as owning information.

Why is Vietnam tightening control over online content?

The change reflects a broader global trend.

Social platforms have transformed everyone into a publisher.

A personal account can reach thousands of people.
A small page can influence public opinion.
A copied article can spread faster than the original source.

This creates new challenges:

• Who owns digital content?

• Who is responsible when information spreads?

• How do we balance freedom of sharing with copyright protection?

Vietnam’s updated rules are moving toward a clearer expectation:

Online users are not only consumers of information they are also responsible distributors.

What should businesses and creators do?

For companies, marketers, and content teams, this regulation creates a practical reminder:

1. Build original content instead of relying on reposting

Using another publication’s article as a shortcut for engagement may create unnecessary risk.

A better approach:

• Summarize insights in your own words

• Add your own analysis

• Link back to the original source

2. Review your social media workflow

Many businesses operate through multiple channels:

• LinkedIn

• Facebook pages

• Community groups

• Internal communication channels

A simple content approval process can help prevent accidental violations.

3. Treat digital content like business assets

In the same way companies protect trademarks, contracts, and intellectual property, digital content requires proper management.

Because in 2026:

A “share” is no longer just a click. It can become a legal action.

For four straight years, from 2023 into 2026, foreign investors have been net sellers of Vietnamese stocks. They pulled out a record ~$4.6 billion in 2025, on top of heavy selling in 2023–2024, and the exodus has carried into 2026 with another ~$1 billion out in the first quarter. The selling spanned everything: banks, retailers, exporters, tech, real estate. No sector was spared. As of June 2026, foreigners still own roughly $50 billion (15% of the market against a HOSE capitalization near $330 billion), their smallest share in over a decade.

And yet the market kept climbing. The VN-Index rose 41% in 2025 to close near 1,785 points, one of the best-performing markets in the world, and the pattern carried into 2026: even with foreigners still selling, it set an all-time high of 1,937 on May 15, 2026, before easing back toward 1,880 by late June.

The sellers matter less than you think

At 15%, foreign ownership in Vietnam is far below its peers. In other emerging markets (EM), foreigners typically own a much larger slice of the market: 20–40% in Indonesia, Malaysia, the Philippines, and South Korea.

When foreigners own so little, their selling sets the mood, not the price. By 2024–2025, domestic retail investors were driving more than 80% of all HOSE trading value and the country crossed 10.2 million brokerage accounts by mid-2025, roughly one in ten Vietnamese. With deposit rates low and property and gold cooling, local savings rotated into stocks. Powered by an economy growing over 8% and a margin-lending boom, the local bid simply overwhelmed the foreign offer.

Why the foreigners left (mostly not about Vietnam)

From 2022 through 2024, the US Federal Reserve pushed interest rates above 5%, while the State Bank of Vietnam went the other way, cutting toward 4.5% to support growth. That gap flipped the math for global money: why hold a risky frontier currency yielding less when the world’s safest asset, US Treasuries, paid ~5% with (higher risk adjusted return)? Capital did what capital always does and flowed out of emerging markets and back into the dollar, not just Vietnam but the entire EM complex at once. Major Wall Street strategists spent 2025 describing EM equities as “out of favor.”

*Worth noting how much that backdrop has shifted: by mid-2026 the Fed has cut to 3.50–3.75% and paused, while the SBV holds around 4.5%. The rate gap that drove the original exodus has largely closed

The second magnet was AI, which soaked up the global risk budget that might once have reached EM markets like Vietnam. In 2025 four US hyperscalers (Microsoft, Amazon, Google, and Meta) committed roughly $320 billion to AI, part of an estimated $550 billion across the sector, while the “Magnificent 7” swelled to over 31% of the S&P 500 and drove 55% of its total return from 2023-2025. For a global fund whose benchmark is being carried by seven American names, a small frontier market is an easy thing to skip.

The currency made it worse

Foreign returns in Vietnam have two moving parts: how the stocks do, and how the dong does against the dollar. In 2025 the dong slid 3–4%. So even a flat stock became a loss once converted back to USD, which prompted more selling, which created more dollar demand, which pushed the dong lower still.

The State Bank had limited ammunition. Reserves stood near $83.6 billion at the end of 2025, only about 2.4 months of imports, below the IMF’s recommended 3-month buffer. To defend the dong, the SBV sold roughly $9.4 billion in 2024 and another ~$4.4 billion in forwards from August 2025. Thin reserves mean the central bank can’t fight forever, a real constraint and another reason cautious foreign money headed for the door.

So was Vietnam “expensive”? Not really

The headline looks full: a trailing P/E around 15.8, roughly 16% above its own three-year average. But that number is inflated by a few mega-cap conglomerate stocks, chiefly the Vingroup complex. Strip them out and the market’s P/E drops to about 13.5.

On a forward basis, Vietnam trades around 11–13x earnings, compared to Indonesia (~11x) and well below India, the region’s priciest major market at ~22x. Consensus expects Vietnamese corporate earnings to rise roughly 15–20% in 2026, among the faster rates in Asia, so on a growth-adjusted basis the multiple looks more in line with earnings than stretched.

Vietnam keeps improving

While foreigners sold, Vietnam was steadily fixing the very barriers that kept big institutional money out:

• Pre-funding is gone (Nov 2024). Foreign institutions no longer have to park 100% of cash before trading, a rule that literally barred many passive funds from participating.

• A new KRX trading system went live (May 2025), replacing creaky infrastructure that once froze under heavy volume, and laying the groundwork for modern settlement.

• FTSE Russell confirmed Vietnam’s upgrade (April 2026) from Frontier to Secondary Emerging Market, effective September 21, 2026 and phased in through 2027.

The upgrade will pull in fresh money, though it pays to be precise about how much. At roughly 0.5% of the FTSE Emerging index, the strictly mechanical passive buying is modest, on the order of $0.5–1.5 billion. The larger figures you’ll see, the World Bank’s ~$5 billion near-term (up to $25 billion by 2030) and HSBC’s $3.4–10.4 billion, mostly assume active managers follow. And the real economy never stopped pulling capital in: registered FDI rose 34.9% in the first five months of 2026.

The takeaway

The multi-year foreign exodus from Vietnam was mostly about things happening outside Vietnam: a strong dollar, high US rates, and a once-in-a-generation pull from American AI. But the rate gap that triggered the selling has narrowed, the structural barriers are coming down, and the FTSE upgrade lands in September.

Figures drawn from Vietnamese exchange and FiinTrade data, the US Federal Reserve, USTR and Bloomberg Economics (tariffs), the World Bank, IMF, FTSE Russell/LSEG, HSBC Global Research, and VanEck, 2025–2026.

For years, many household businesses in Vietnam have grown through flexibility.

A small family shop.
A home-based brand.
An online seller.
A personal service business.

Many could operate successfully without complex systems.

But 2026 may change the way small businesses operate.

New tax policies are pushing household businesses toward a more transparent way of working with clearer revenue tracking, digital invoices, and stronger financial management.

This is not only a tax change.

It is a shift in how small businesses in Vietnam will run, grow, and prepare for the future.

2026: The shift from simple tax management to data-based business operations

One of the biggest changes is the move toward managing tax obligations based more on actual business revenue.

Under the updated regulations, household businesses will need to pay closer attention to their real revenue, tax declaration process, and supporting records.

For business owners, the key question is changing.

It is no longer only:

“How much tax do I need to pay?”

The bigger question becomes:

“How accurately can I track and prove my business revenue?”

Important 2026 deadlines household businesses should know

Before July 31, 2026: A key deadline for some businesses

For household businesses that start operating in 2026 and meet the required conditions, revenue information for the first six months of 2026 must be reported no later than July 31, 2026.

This applies mainly to businesses that began operating during the first half of 2026.

Business owners should prepare:

✓ Actual revenue records
✓ Business registration information
✓ Payment account details
✓ Sales and transaction data

Before January 31, 2027: Reporting 2026 revenue

For many existing household businesses that were already operating before 2026, revenue information for the full year 2026 will need to be reported by January 31, 2027.

This means 2026 becomes a preparation year.

Businesses need to move away from informal tracking methods and start building clearer financial records.

Electronic invoices: From legal requirement to daily business tool

Electronic invoices are becoming a bigger part of business operations.

For household businesses with higher revenue levels, invoice management and digital records will become increasingly important.

For industries such as:

• Retail

• Restaurants

• Personal services

• Online businesses

this means daily operations will need better systems.

Businesses will need to manage:

✓ Daily sales records
✓ Customer transactions
✓ Cash flow
✓ Operating costs
✓ Invoice data

The biggest challenge: Small businesses must think like bigger businesses

Many household businesses start small.

A store.
A social media page.
A loyal customer base.

But as revenue grows, simple management methods can become risky.

Common problems include:

• Mixing personal and business money

• Not tracking actual profit

• Losing sales records

• Having unclear financial data

These issues can make it harder to:

• Understand business performance

• Work with larger partners

• Expand operations

• Stay compliant

The transition is not only about following regulations.

It is about building a stronger business foundation.

What should household businesses prepare before 2026?

Instead of waiting until changes become urgent, business owners can start with simple steps:

✓ Track daily revenue
✓ Keep transaction records
✓ Separate personal and business finances
✓ Learn how electronic invoices work
✓ Review tax obligations based on revenue and business activities

2026 could become a turning point for Vietnam’s small businesses

Vietnam’s business environment is becoming more digital, transparent, and data-driven.

For household businesses, this may feel like a challenge at first.

But for businesses that want to grow, it can also be an opportunity.

The next generation of successful small businesses will not only need to sell well.

They will need to operate well.

A dream vacation with hidden risks. 🏝️

Holiday ownership promises luxury and convenience, but some customers face unclear contracts, unexpected fees, and financial losses.

According to Tuổi Trẻ, authorities have investigated cases involving the sale and transfer of holiday ownership contracts, with nearly 500 customers reportedly affected by suspected fraudulent activities.

From “Exclusive Vacation Benefits” to Long-Term Problems

Holiday ownership is usually introduced as a way for customers to pay upfront and enjoy resort stays for a specific period of time.

Companies often promote these products with promises such as:

• Luxury resorts at affordable prices;

• Long-term vacation benefits;

• Exclusive member privileges;

• Flexible travel experiences.

However, some customers later discover that the reality can be very different from what they expected.

Common complaints include:

• Difficulty booking rooms during popular travel periods;

• Restrictions on when and how customers can use the service;

• Unexpected maintenance or service fees;

• Challenges when cancelling or transferring contracts.

As reported by VTV, many customers face difficulties protecting their rights because holiday ownership contracts often include complicated terms, while buying decisions are sometimes made after short sales meetings.

The “Free Vacation” Strategy: How Customers Are Approached

One common method is inviting customers to attend seminars or events with attractive offers such as free vacation vouchers or discounted resort packages.

During these events, sales representatives introduce holiday ownership contracts and encourage customers to make quick decisions.

According to Công an TP.HCM, the issue goes beyond individual complaints. Authorities investigated multiple companies involved in holiday contract sales and identified a structured operation where different departments and employees were assigned specific roles.

During the investigation, police seized 5,563 holiday contracts and recorded an estimated 612 billion VND (around USD 24 million) in misappropriated assets. The investigation also found that the highest reported loss for a single customer was 8.5 billion VND across 42 contracts, while the lowest was 30 million VND per contract.

These figures show that holiday ownership risks are not only personal financial disputes they can become large-scale consumer protection issues.

The case highlights how misleading holiday ownership schemes can create large-scale financial risks for consumers.

Some customers were also told that these contracts could become a financial opportunity allowing them to rent out or resell their vacation rights.

However, these promises are not always clearly written in the agreement.

When Customers Want to Leave, Another Risk Appears

The biggest problem often begins when customers realize that the contract does not match their expectations.

At this stage, some customers may receive offers from other parties promising:

• Fast contract resale;

• Full refund;

• Guaranteed recovery of their money;

• Even additional profit.

However, instead of recovering their investment, customers may be asked to pay extra fees, including processing fees, service charges, or transfer costs.

VTV reported that in a holiday card fraud case, customer information was allegedly exploited to continue approaching victims and carry out further financial scams.

Meanwhile, Dân Trí highlighted cases where customers lost significant amounts of money after purchasing holiday ownership products without fully understanding the conditions and long-term costs involved.
Why Can Holiday Ownership Become Risky?

Unlike a normal hotel booking, holiday ownership contracts involve many elements:

• Accommodation services;

• Long-term usage rights;

• Booking conditions;

• Maintenance fees;

• Transfer rules.

This makes it harder for customers to understand the real value of what they are purchasing.

Many buyers focus on the attractive sales presentation but do not carefully review the full contract.

A decision made in a 30-minute meeting can create a financial commitment lasting for years.

A Lesson for Consumers and the Tourism Market

Vietnam’s growing tourism industry creates opportunities for new travel business models.

Holiday ownership itself can be a legitimate service if it is transparent and properly managed.

However, when a vacation product relies on unclear promises, aggressive sales tactics, or unrealistic financial expectations, customers face greater risks.

Before signing any holiday ownership contract, customers should:

✓ Verify the company’s legal information
✓ Read every contract clause carefully
✓ Understand all long-term costs
✓ Avoid promises that are only made verbally
✓ Be cautious with “guaranteed resale” or “refund” offers

A dream vacation should not become a long-term financial burden.

Vietnam remains one of Southeast Asia’s most attractive destinations for foreign investors, particularly in manufacturing, trading, technology, and professional services. Supported by a strategic location, competitive labor costs, and an expanding network of free trade agreements (FTAs), Vietnam continues to attract significant foreign direct investment (FDI) from around the world.

However, establishing a company in Vietnam is not simply a straightforward administrative process. In 2026, increasing regulatory oversight and more digital government procedures mean that foreign investors must carefully prepare before entering the market. Many businesses experience unexpected delays because they choose the wrong company structure, overlook licensing requirements, or fail to prepare for post-incorporation obligations such as capital contribution deadlines and tax registration procedures.

Successfully incorporating a company in Vietnam involves more than obtaining the required certificates. Investors should establish a business structure that protects their investment, supports compliance, and enables future growth.

This guide provides a practical overview of the Vietnam incorporation process, including business structures, registration procedures, timelines, costs, and compliance requirements for foreign investors.

Common Business Structures for Foreign Investors

Structure Comparison at a Glance

For most foreign investors entering Vietnam, the Limited Liability Company (LLC) remains the most popular option because it offers flexibility, relatively simple management, and full commercial operating rights.

Vietnam Incorporation Guide: The Company Incorporation Process in 2026

Incorporating a foreign-invested company in Vietnam typically involves several stages. Although applications are now submitted electronically through the National Business Registration Portal, authorities continue to carefully review supporting documents and investment information.

Step 1: Business Structure and Capital Planning

Before preparing incorporation documents, investors should determine:

• Business activities and applicable VSIC industry codes

• Ownership structure

• Registered office address

• Charter capital amount

Charter capital is one of the most important considerations during the incorporation process.

Although most service, consulting, and technology businesses do not have a legal minimum capital requirement, authorities carefully assess whether the proposed capital is sufficient for the planned business activities.

Practical Consideration

In practice, an unrealistically low charter capital amount may result in additional clarification requests and longer processing times during the investment review process.

For many service-based businesses, foreign investors commonly register charter capital between USD 10,000 and USD 20,000 to demonstrate their ability to cover initial operating expenses. Trading, logistics, and manufacturing companies generally require higher capital levels due to inventory, facilities, equipment, and operational expenses.

Step 2: Obtain the Investment Registration Certificate (IRC)

If foreign investors own shares in the company from the beginning, obtaining an Investment Registration Certificate (IRC) is generally required.

The IRC records key details of the investment project, including:

• Investment objectives

• Business activities

• Ownership structure

• Charter capital

• Capital contribution schedule

The application is reviewed by the relevant investment authority before approval.

Typical Processing Time:
30 working days after submission of a complete and properly legalized application dossier.

Step 3: Obtain the Enterprise Registration Certificate (ERC)

Once the IRC has been approved, investors can apply for the Enterprise Registration Certificate (ERC).

The ERC officially establishes the company as a legal entity in Vietnam and includes:

• Company registration number

• Tax identification number

• Legal company information

Typical Processing Time:
3-5 working days.

After the ERC is issued, the company legally exists but must still complete several important compliance steps before commencing normal operations.

Critical Post-Registration Compliance (Where Most Investors Fail)

Many foreign investors focus heavily on obtaining the IRC and ERC but underestimate the importance of post-registration compliance requirements.

The first 90 days following incorporation are particularly important.

1. The Strict 90-Day Capital Injection Deadline

Vietnamese regulations require investors to fully contribute the registered charter capital within 90 days from the date the ERC is issued.

Failure to meet this deadline may result in:

• Administrative penalties

• Mandatory adjustment of registered capital

• Additional reporting and compliance procedures

Foreign investors should therefore plan capital transfers carefully before completing incorporation.

2. Dual-Account Banking Requirement for FDI Companies

Foreign-invested enterprises must establish a banking structure that complies with Vietnam’s foreign exchange regulations.

Direct Investment Capital Account (DICA)

The DICA is used for:

• Capital contributions from foreign investors

• Profit remittance overseas

• Capital transfers and repatriation transactions

Current Account

The Current Account is used for daily business activities such as:

• Supplier payments

• Employee salaries

• Tax payments

• Operating expenses

Important Note

Charter capital should be transferred through the Direct Investment Capital Account (DICA) in accordance with foreign exchange regulations.

Transferring investment capital incorrectly may create significant compliance and foreign exchange complications and make future profit repatriation more difficult.

3. Tax Registration and Digital Setup Requirements

Within the initial period after incorporation, companies should complete several tax and compliance registrations, including:

• Obtaining a Digital Signature (Chữ ký số)

• Activating the corporate tax account

• Registering electronic invoices

• Declaring and paying Business License Tax

These registrations are essential for maintaining tax compliance and conducting normal business operations.

4. Industry-Specific Licenses

For businesses operating in conditional sectors, obtaining the ERC alone is not sufficient.

Additional licenses may be required before commercial operations can begin.

Common examples include:

• Retail distribution licenses

• Education licenses

• Logistics permits

• Recruitment licenses

• Tourism licenses

The specific requirements depend on the company’s business activities and investment structure.

Common Mistakes Foreign Investors Make During Incorporation

Although the legal framework is relatively straightforward, foreign investors frequently encounter delays because of avoidable mistakes.

Common issues include:

• Registering insufficient charter capital for the proposed business activities

• Selecting incorrect VSIC business codes

• Missing the 90-day capital contribution deadline

• Delaying tax registration and electronic invoice setup

• Assuming that the ERC alone is sufficient for regulated industries

• Overlooking work permit and visa requirements for foreign managers

Addressing these issues early can significantly reduce approval delays and compliance risks.

Cost and Timeline Summary (Realistic 2026 Benchmarks)

For a standard foreign-invested company operating in a non-restricted sector, the incorporation process typically takes between four and eight weeks.

The total cost of incorporation generally includes:

• Government registration fees

• Document legalization and translation costs

• Office lease expenses

• Banking setup costs

• Professional advisory and incorporation service fees

Actual costs vary depending on the business sector, investment structure, and licensing requirements.

Why Many Foreign Investors Use Professional Incorporation Services

Although the incorporation process is clearly regulated, practical implementation often involves additional requirements, document revisions, and communication with multiple authorities.

Small errors in document preparation, business activity selection, or licensing strategy can result in additional information requests and longer processing times.

Professional incorporation support helps businesses avoid unnecessary delays and compliance issues while allowing management teams to focus on their expansion plans and operational priorities.

Vietnam Corporate Services Support

Vietnam Operations connects businesses with trusted corporate service providers in Vietnam, supporting investors, startups, and foreign companies throughout their market entry and operations.

Our network provides support across key areas including company incorporation, corporate secretarial services, accounting & finance, taxation, HR & payroll, immigration, compliance, and business advisory.

Whether you need assistance with company setup, tax compliance, accounting, work permits, or ongoing business operations, we can connect you with the right experts to support your Vietnam journey.

Contact us to explore suitable solutions for your business needs.

For years, when people talked about automation, they imagined robots replacing workers on factory floors.

But this AI revolution is different.

It is not starting in factories.

It is happening at desks.

A marketing employee can now create a first draft in minutes. A customer service team can use AI chatbots to handle thousands of conversations. A programmer can use AI tools to write and review code faster.

This raises a new question:

If AI can do many tasks that humans used to do every day, what will happen to Vietnam’s job market?

11.5 Million Vietnamese Workers Could Be Affected by AI

According to a report from the International Labour Organization (ILO), around 11.5 million Vietnamese workers or 1 in 5 workers are in jobs where some tasks could be affected by Generative AI.

However, the biggest change may not be job replacement.

It is a job transformation.

ILO suggests that Generative AI is more likely to change the way people work rather than completely remove millions of jobs overnight.

For example:

A financial employee may not lose their job because of AI.

But tasks like:

• entering data

• checking documents

• creating basic reports

can increasingly be automated.

The value of human workers will move toward skills AI cannot easily replace:

• problem-solving

• communication

• decision-making

• strategic thinking

Which Jobs Are Under the Most Pressure?

Not every industry will be affected equally.

Jobs with three characteristics are more exposed to AI:

Repetitive tasks + clear processes + information processing.

According to ILO, administrative and office support workers are among the groups with the highest exposure to Generative AI.

Other sectors facing significant changes include:

• finance and insurance

• wholesale and retail

• information and communication industries

The pressure is especially strong for entry-level jobs.

In the past, many fresh graduates started their careers by doing basic tasks:

writing reports, organizing information, processing documents, answering simple customer requests.

But if AI can handle much of this work, companies may expect new employees to bring more value from day one.

Are Young Workers the Most Vulnerable?

Maybe.

But not exactly in the way many people think.

AI is not only changing jobs.

It is changing the rules of entering the job market.

A candidate who only knows how to complete simple tasks may struggle.

Meanwhile, someone who combines professional knowledge with AI skills may have a stronger advantage.

For example:

A content writer may spend hours researching and drafting an article.

A writer using AI effectively can:

• research faster

• test more ideas

• analyze audiences better

• improve content quality

AI does not replace human ability.

But it can replace workers who only follow fixed processes.

AI Will Remove Jobs But It Will Also Create New Ones

The future of work is not only about job losses.

According to global employment forecasts cited by VnEconomy, AI and technological changes could contribute to the creation of around 170 million new jobs, while around 92 million existing jobs may be displaced or transformed.

New roles may grow around:

• AI development

• data management

• AI quality control

• AI safety

• technology-related positions across different industries

History shows that every major technology wave changes the labor market.

The internet removed some traditional jobs.

But it also created new industries:

e-commerce, digital marketing, online services, and many technology careers.

Vietnam Is Entering a New Skills Competition

The biggest question is not:

“Will AI take our jobs?”

The bigger question is:

Who can adapt faster?

According to ILO, AI exposure is not evenly distributed across Vietnam. Major economic centers such as Hanoi, Ho Chi Minh City, and Da Nang account for more than one-third of jobs that could be affected by AI.

This means AI is not only a technology story.

It is also a story about:

• education

• reskilling

• business adaptation

• workforce competitiveness

The New Competition Is Not Humans vs AI

It is:

Humans who use AI vs humans who do not.

In the future, AI may become as common as Excel or the internet.

Employees who know how to use AI may complete tasks faster and create more value.

Companies that adopt AI effectively may become more competitive.

AI may not “eat” Vietnamese jobs.

But it is definitely changing the rules of the game.

And in this new game, the biggest advantage may belong to those who learn the fastest.

For decades, graduating from university was seen as the beginning of a stable career.

A degree meant opportunity. A first job meant a pathway to growth.

But for today’s young workers in Vietnam, the transition from university to the workplace is becoming much more uncertain.

The competition is no longer just between graduates.

It is between graduates, experienced workers, automation, and increasingly artificial intelligence.

The shrinking entry-level opportunity

Vietnam’s labour market is still growing, but opportunities are becoming more selective.

According to recruitment data cited by VnEconomy, while hiring demand has increased for many experience levels, fresh graduates (fresher positions) have become the only group experiencing a decline. In 2025, fresher recruitment dropped nearly 13% compared with the previous year and more than 37% compared with 2023.

The change is especially visible in several traditional office sectors:

• Administrative and Human Resources: down more than 53%

• Accounting: down more than 36%

• Finance and Banking: down more than 34%

At the same time, companies are showing stronger preference for candidates who can contribute immediately.

Experience is becoming a new entry ticket.

The problem is obvious:

How can young people gain experience when companies increasingly expect experience before hiring them?

The “fresh graduate disadvantage”

The traditional career path used to look simple:

Graduate → Entry-level job → Learn → Develop.

But many companies are now adjusting their hiring strategy.

Instead of expanding large groups of junior employees and training them from scratch, businesses are becoming more cautious. They increasingly prioritise employees who already have practical skills, industry knowledge, or the ability to work independently.

This creates a gap between what universities provide and what workplaces demand.

A student may graduate with strong academic knowledge, but employers are often looking for something different:

Can they solve real problems?

Can they communicate?

Can they use technology?

Can they adapt quickly?

A diploma answers what someone studied.

It does not always answer what someone can deliver.

AI is changing what “valuable skills” mean

The pressure is not only economic.

It is also technological.

Many students today are entering the workforce at the same time AI is reshaping jobs.

At a discussion on employment opportunities in the AI era, students expressed concerns that artificial intelligence could compete with human workers. Experts pointed out that companies are increasingly looking for people who can use AI as a tool rather than people performing tasks that AI can already handle.

This changes the definition of employability.

Previously:

A good employee was someone with knowledge.

Increasingly:

A strong employee is someone who can combine knowledge, technology, and human judgment.

AI can generate content.

But it cannot replace every human advantage:

• understanding context

• building relationships

• negotiating

• making decisions under uncertainty

The future worker may not compete against AI.

They may compete against people who know how to use AI better.

A more divided career landscape

The biggest change is not that jobs are disappearing.

It is that opportunities are becoming more unequal.

For some graduates, especially those with internships, portfolios, technical skills, foreign languages, or digital capabilities, opportunities may expand.

For others, entering the labour market without practical experience may become increasingly difficult.

Vietnam’s young workforce is entering a period where “having a degree” is only the starting point.

The real question is:

What can you do that is difficult to replace?

Because in the next stage of Vietnam’s economy, companies may not simply ask:

“Where did you study?”

They may ask:

“What value can you create?”

For years, university admission was considered one of the most stressful milestones for Vietnamese students.

But today, another competition is happening much earlier:

The Grade 10 public high school entrance exam.

In major cities, this exam is no longer simply about academic performance.

It has become a competition for access to a limited resource:

a seat in a public high school.

A Competition at Age 15

For the 2026–2027 school year, Hanoi recorded around 124,915 students registering for public Grade 10 entrance exams, while approximately 147,000 students completed lower secondary education. The number of candidates was among the highest in recent years.

At the same time, around 22,000 students did not participate in the public school entrance exam, choosing alternatives such as private schools, vocational education, continuing education, or other pathways.

On paper, this represents educational diversification.

But it also highlights a deeper reality:

Demand for public schools remains higher than available capacity in many areas.

When a Public School Seat Becomes a Competition

The 2026 admission data shows how intense the competition has become.

Some Hanoi public high schools recorded extremely high competition rates:

• Yen Hoa High School: 1 seat against 3.35 applicants

• Le Quy Don – Ha Dong High School: 1 against 3

• Nguyen Thi Minh Khai High School: around 1 against 2.68

Yen Hoa High School received 2,566 applications for only 765 places.

For a 15-year-old student, these numbers are not just statistics.

They represent months of preparation, family expectations, and personal pressure.

Why Has Grade 10 Become So Stressful?

Part of the answer lies in the role public schools play in Vietnamese society.

For many families, public education is not only an academic choice.

It represents:

• affordability,

• stability,

• perceived quality,

• and a safer future pathway.

Therefore, failing to enter a preferred public school can feel like more than an exam result.

It can become a psychological burden.

The Paradox of Universal Education

The debate over reducing or removing Grade 10 entrance exams has continued for years.

Supporters argue that if education access is the goal, students should not face such intense competition just to continue high school.

Others raise a practical question:

If demand exceeds capacity, how should limited places be allocated fairly?

Because removing an exam does not necessarily remove competition.

It may simply move competition into another system:

• academic records,

• school zoning,

• or alternative selection methods.

What Could Happen Next?

The pressure around Grade 10 admission is unlikely to disappear soon.

As cities expand, student populations grow, and families continue to invest heavily in education, demand for highly regarded schools will remain strong.

Future trends may include:

1. More competition around top public schools

Schools with strong reputations will continue attracting large numbers of applicants.

2. Greater diversification after middle school

The fact that tens of thousands of students choose non-public pathways shows that education routes after Grade 9 are becoming more diverse.

3. A broader definition of educational success

If only a small group of schools are considered successful, pressure will continue to concentrate on students and families.

What This Reveals About Vietnam Today

The Grade 10 entrance exam is not only an education story.

It reflects a broader transformation in Vietnam:

As opportunities increase, expectations increase as well.

Families invest more because education remains one of the strongest paths to future mobility.

But the bigger question is not only:

“Who gets into the best schools?”

It is:

“How can more students access meaningful opportunities, even without passing through the same door?”

Behind every competition rate is not just a number.

It is thousands of young students making one of their first major life decisions.

If you are a foreign investor starting an equipment leasing business (I know it sounds niche … but it’s more common than you think), you have got to know this one distinction:

Dry lease vs wet lease.

A recent client enquiry raised an interesting question.

A Singapore company was exploring the establishment of a Vietnam subsidiary to sell, lease and maintain specialised industrial equipment. On the surface, the business appeared relatively straightforward. However, a closer review revealed that the regulatory outcome could differ significantly depending on one key factor:

Is the company providing a dry lease or a wet lease?

The distinction may sound commercial in nature, but in Vietnam it can have important implications from a foreign investment and licensing perspective.

Dry Lease vs Wet Lease: A Quick 101

Dry Lease

The customer leases the equipment only and is responsible for providing its own operators, personnel and operational management.

Wet Lease

The customer receives both the equipment and related operational services, such as operators, supervision, technical support or operational management, from the service provider.

While the difference may appear minor, the legal treatment can be very different.

The Four Key Activities

For businesses operating in the equipment rental sector, the analysis should generally be separated into four distinct activities:

1. Equipment sales;

2. Dry lease (equipment only);

3. Wet lease (equipment plus operators/services); and

4. Repair and maintenance services.

Each activity may be subject to different market access and licensing requirements.

Equipment Sales: Generally Straightforward

The sale, importation and distribution of machinery and equipment are generally activities that foreign-invested enterprises may undertake in Vietnam.

In practice, the exact requirements depend heavily on the equipment involved and the applicable HS codes. Different products may be subject to different import, distribution, technical compliance or industry-specific regulations.

As such, the first step is often to identify the relevant products and HS classifications before assessing the licensing position.

Dry Lease: The Most Sensitive Issue

The position becomes more complicated when the business involves leasing equipment without operators.

The rental of machinery, equipment and other tangible goods without operators (Vietnam Standard Industrial Classification (VSIC) 7730 / United Nations Central Product Classification (CPC) 83109) is classified as a sector subject to conditional market access for foreign investors under Vietnam’s foreign investment regime.

Importantly, Vietnam did not make WTO market access commitments for CPC 83109. As a result, Vietnamese authorities retain discretion in deciding whether to approve foreign investment applications relating to this activity.

Meanwhile, it is interesting to note that - where an investor relies on Vietnam’s ASEAN Framework Agreement on Services (AFAS) commitments, market access may be available through a joint venture structure, provided foreign ownership does not exceed 70%.

In practical terms, this means:

• The activity is neither automatically prohibited, nor automatically open to 100% foreign ownership;

• Approval may be assessed on a case-by-case basis;

• Licensing authorities may consult relevant ministries, including the Ministry of Industry and Trade (MOIT).

For investors seeking to conduct pure equipment rental through a wholly foreign-owned company, this becomes one of the most important regulatory considerations.

The Often-Forgotten Trading Licence Requirement

Even where market access is available, investors should not overlook the licensing requirements.

Equipment rental services are considered a conditional business activity directly related to the sale of goods for foreign-invested enterprises. Foreign-invested companies must obtain the relevant registrations and a Trading Licence before carrying out equipment rental activities.

And as noted, since Vietnam has not committed market access under the WTO for machinery and equipment leasing services, the issuance of a Trading Licence requires consultation with the Ministry of Industry and Trade. The authorities may consider various factors including:

• Financial capability;

• Tax compliance history;

• Compliance with specialised laws;

• Impact on domestic competition;

• Job creation potential; and

• Contribution to the State budget.

In practice, this process can be more complex and time-consuming than many investors initially expect.

Wet Lease: Potentially a Different Analysis

The regulatory position may be different where the company provides more than just equipment.

For example, if the Vietnam entity supplies:

• Operators;

• Safety supervisors;

• Technical personnel;

• Operational management; or

• On-site support services,

the activity may no longer be viewed purely as the rental of equipment without operators.

Instead, depending on the structure, it may be characterised as a technical service, operational service, industrial support service or another service category altogether.

This distinction is particularly relevant for businesses supplying:

• Aerial work platforms;

• Boom lifts;

• Scissor lifts;

• Cranes;

• Industrial machinery; or

• Specialised construction equipment.

Accordingly, the regulatory analysis applicable to a wet lease structure may differ materially from the analysis applicable to a dry lease structure.

Businesses should avoid assuming that a regulatory conclusion for dry lease automatically applies to wet lease arrangements.

Repair and Maintenance Services

Repair and maintenance services generally present fewer market access concerns than equipment rental activities.

Vietnam’s WTO Schedule includes commitments relating to “Maintenance and Repair of Equipment” (CPC 633). The commitments originally provided for phased foreign ownership restrictions following Vietnam’s WTO accession, ultimately allowing 100% foreign-invested enterprises after the applicable transition periods.

As a result, activities such as:

• Equipment servicing;

• Preventive maintenance;

• Repairs;

• Diagnostics;

• Spare parts replacement; and

• Technical after-sales support

are generally viewed as more accessible from a foreign investment perspective than equipment rental without operators.

Key Takeaways

For foreign investors, the real question is often not whether equipment rental is allowed in Vietnam.

Rather, the question is:

What exactly is being supplied to the customer?

If the business model involves merely leasing equipment without operators, the activity may fall within a restricted market access sector requiring regulatory discretion and additional approvals.

If the business model includes operators, supervision or operational services, a different regulatory analysis may apply.

For this reason, businesses entering Vietnam’s equipment rental market should carefully assess whether their proposed model constitutes a dry lease, wet lease or a combination of both before determining the most appropriate investment and licensing structure.

In recent years, Vietnam has become one of the most attractive manufacturing destinations in Asia. Global companies like Samsung, Foxconn, Lego, and Nike have continued expanding their factories in the country, making Vietnam an important part of the global supply chain.

According to the General Statistics Office (Ministry of Finance), total registered FDI as of 31 December 2025 reached USD 38.42 billion, up 0.5% year-on-year. Notably, capital contributions and share acquisitions surged by 54.8%, amounting to USD 7.03 billion across 3,587 transactions, highlighting the growing role of M&A activities and strategic restructuring in Vietnam.

Lower Costs, Strong Manufacturing Potential

One of Vietnam’s biggest advantages is its competitive production costs. Compared to China, labor and operating costs in Vietnam are still significantly lower.

At the same time, Vietnam has a young workforce of more than 52 million people. Workers are known for being adaptable, hardworking, and increasingly skilled, especially in electronics and manufacturing industries.

This combination allows companies to reduce costs while maintaining production quality.

A Strategic Location in Asia

Vietnam is located in the center of Southeast Asia and close to China, the world’s largest manufacturing base. This makes it easier for companies to connect supply chains and transport goods to global markets.

As more businesses follow the “China + 1” strategy to reduce dependence on China alone, Vietnam has become one of the top alternative destinations.

Vietnam Compared With Other Countries in the Region

Compared to China, Vietnam offers lower labor costs while still being close to major Asian supply chains.

Compared to Thailand and Malaysia, Vietnam has a younger workforce and more competitive operating expenses.

Indonesia has a large domestic market, but logistics can be more difficult because of its geography as an island nation.

Another major advantage is trade. Vietnam has signed more than 15 free trade agreements, including EVFTA, CPTPP, and RCEP. This gives products made in Vietnam better access to markets in Europe, Asia, and other regions with lower tariffs.

Vietnam Is Moving Beyond “Cheap Manufacturing”

Vietnam is no longer seen only as a low-cost manufacturing country.

In recent years, the country has attracted more investment in electronics, semiconductors, and high-tech industries. Samsung now produces a large share of its smartphones in Vietnam, while other technology companies are increasing investments in AI, chips, and electronic equipment.

This shows that Vietnam is slowly transforming from a “cheap factory destination” into a higher-value manufacturing and technology hub.

Conclusion

With competitive costs, a strategic location, a young workforce, and strong trade connections, Vietnam is becoming one of Asia’s most important manufacturing centers.

As global supply chains continue to shift, Vietnam is no longer just a backup option it is becoming a long-term manufacturing destination for international companies.

Over the past 30 years, industrial parks (IPs) and industrial clusters (ICs) have become one of the most important foundations of Vietnam’s industrialization. From an economy once heavily dependent on agriculture, Vietnam is gradually transforming into a major manufacturing hub in Asia, driven by the rapid expansion of its industrial zones.

In particular, the Red River Delta region is emerging as the new industrial powerhouse of northern Vietnam thanks to its strong infrastructure network and strategic location near China. The region has also become the country’s largest destination for foreign direct investment (FDI) in recent years.

Industrial parks play a central role in attracting foreign investment. In 2025, Vietnam’s manufacturing and processing sector attracted approximately USD 21 billion in FDI, accounting for nearly 55% of the country’s total foreign investment inflows. At the same time, global supply chain shifts under the “China +1” strategy are helping Vietnam strengthen its position as one of Southeast Asia’s most attractive manufacturing destinations.

Many international companies choose Vietnam because of:

• Competitive labor costs

• Strategic proximity to China

• A wide network of free trade agreements (FTAs)

• A stable political environment

In Hanoi alone, 10 major industrial parks have attracted around USD 6.7 billion in FDI, mainly in electronics, precision engineering, and high-tech manufacturing.

Meanwhile, industrial clusters mainly support small and medium-sized enterprises (SMEs), local manufacturers, and supporting industries. These clusters help reduce scattered production in residential areas while creating more jobs for local workers. However, many industrial clusters still face challenges related to infrastructure quality, environmental treatment systems, and the ability to attract high-value businesses.

Despite strong growth, Vietnam’s industrial park system also faces several challenges, including:

• Environmental pressure

• Limited availability of clean industrial land

• Underdeveloped logistics infrastructure

• Shortages of skilled labor

• Low value-added manufacturing

As a result, many local governments are shifting away from the “growth at all costs” approach and prioritizing high-tech, green, and renewable energy projects instead. This transition is considered an important step in helping Vietnam move higher up the global supply chain.

In the future, the key question for Vietnam will not simply be how many industrial parks it can build, but how it can develop industrial zones that are more sustainable, higher in value, and better connected to domestic businesses. The answer to that question may determine whether Vietnam can move beyond being a low-cost manufacturing base and become a leading high-tech production center in the region.