Over 700,000 Vietnamese workers are now working abroad.

Approximately $5billion have been remitted home annually by over 700,000 Vietnamese guest workers, the Government News quoted figures from the Ministry of Home Affairs as reporting on July 18.

In the first half of 2025, over 74,000 guest workers traveled to work abroad, accounting for 57.5 percent of this year’s target.

Over the past three years,  around 150,000 Vietnamese laborers were sent to Japan, South Korea, Taiwan (China) and European countries.

Remittances play a vital role in supporting families and contributing to national economic stability, particularly in rural and remote areas.

Currently, more than 500 enterprises are authorized to provide overseas employment services for Vietnamese workers.

All workers must undergo orientation sessions covering customs, traditions and legal regulations of their host countries before their departure.

The 54-km section connecting central Ha Tinh and Quang Tri provinces.

The Ministry of Construction has approved the adjustment of the Vung Ang –Bung expressway, which is one of 12 sub-projects of the Eastern North-South Expressway during the 2021-2025 periods.

The Vung Ang – Bung expressway section will get full investment to have six lanes, allowing a maximum speed of 100 kph.

The second tube of But Pass Tunnel, part of the expressway section, will also be built. The 1-km tunnel consists of two tubes, with each being 15 m wide and 8 m high, featuring with three traffic lanes.

Under the initial plan, in the first phase of the project, the four-lane expressway section and the first tube of the But Pass Tunnel have been under construction since January 2023.

Under adjusment plan, the section will be expanded to six lanes and the second tube of the tunnel will be built.

The 54-km expressway section will run across central Ha Tinh province and former Quang Binh province, which has been merged into Quang Tri province since July 1, 2025.

The adjustment does not change the total investment capital of the project which is estimated at VND12.548 trillion ($494 million).

 

 

According to Citi analysts, the prospects for continued deepening of onshore supply chains remain high, with uncertainties on global trade policy and possible export payback in the first three quarters of 2025 (3Q).

Citi raises forecast for Vietnam’s 2025 GDP growth

Stricter enforcement of rules of origin certification could accentuate the export payback in the near term, and details on how transshipment will be redefined remains unclear.

In April, the Vietnamese government issued a directive to strengthen the inspection and supervision of the origin of goods.

Citi assumes that a scenario where tighter inspection post-deal leads to export delays cannot be totally ruled out, and this in turn could accentuate an expected reversal or payback of export growth in 3Q, following the frontloading of shipments to the US in the first half of this year.

More broadly, Citi economists keep in mind that effective tariffs have just been raised thus could finally translate to higher selling prices and dampened demand from US consumers.

For example, Citi analysts indicated back in April that some textile suppliers producing in ASEAN would cover only a third of the reciprocal tariff, while the rest would be split between the brand owner and consumer.

In June, export growth fell slightly to 16 per cent on-year, from 17 per cent in May.

Longer term, Citi assumes Vietnam’s tariff advantage remains, retaining the incentive to deepen local supply chains.

The steady-state for the global tariff landscape is still unclear, pending outcomes of US negotiations with various other economies.

As such, Citi has raised its forecast for Vietnam’s 2025 GDP growth to 7 per cent from the previous 6.6 per cent.

Raising GDP forecasts now seems counterintuitive to the backdrop of US tariffs on Vietnam having been just raised by 10pps.

Vietnam’s GDP growth in the first half of 2025 reaching 7.52 per cent, however, exceeding Citi Vietnam’s expectations and is higher versus the 7 growth seen in the first quarter of this year.

Although the acceleration, propelled largely by manufacturing with a 0.5pps addition, incorporated the effect of US frontloading, Citi highlights that the growth acceleration was also supported by domestically oriented sectors.

Citi raises forecast for Vietnam’s 2025 GDP growth
Minh Ngo, Vietnam Markets head and country treasurer

According to Minh Ngo, Vietnam Markets head and country treasurer, Citi’s priority is to connect global clients to local markets and local clients with global opportunities to support the growth of Vietnam.

Citi Vietnam is at the forefront of delivering world-class solutions in FX hedging, rates and commodities derivatives, liquidity management, and structured funding solutions for the bank’s corporate, commercial, public sector, and investor clients.

“Our extensive global network and international presence provide clients with a significant competitive advantage, empowering them to navigate an evolving market landscape and optimise their operations and supply chains in response to dynamic external market conditions,” she said.

Forecast upbeat for banking industry in 2025 Forecast upbeat for banking industry in 2025

Commercial banks’ pre-tax profits in 2025 are forecast to grow by 14.9 per cent year-on-year, while bad debt has peaked and is expected to decrease next year.

Citi Foundation announces 2025 Global Innovation Challenge to accelerate youth employability Citi Foundation announces 2025 Global Innovation Challenge to accelerate youth employability

Fifty community organisations will receive a collective $25 million in catalytic funding, building on over a decade of Citi Foundation investment in youth, with requests for proposals underway until March 4.

Vietnam Economic Report 2025: OECD insights on sustainable growth strategy Vietnam Economic Report 2025: OECD insights on sustainable growth strategy

The Ministry of Foreign Affairs, in coordination with the Ministry of Finance and the Organisation for Economic Cooperation and Development (OECD), hosted a seminar to launch the Vietnam Economic Report 2025 on June 20 in Hanoi.

This is a strategic move to attract high-end international tourists, particularly those from the US and Australia, boosting Vietnam’s reputation as a diverse tourism hub.

Australian golf legend Gregory John Norman has been reappointed as Vietnam’s Tourism Ambassador for 2025-2030, according to an announcement by Deputy Minister of Culture, Sports, and Tourism Ho An Phong on July 18.

The deputy minister was quoted by the Vietnam News Agency as praising Mr. Norman’s impactful golf career and his role in promoting Vietnam’s golf tourism during his first term from 2018 to 2021. His efforts helped position Vietnam as a premier golf destination, contributing to the country’s growth in international tourism, which saw 17.6 million visitors, including over 3 million golfers, in 2024.

Mr. Norman said, as quoted by the news agency, he will do his utmost in his new term to promote Vietnam not only as a premier golf destination, but also as a land of heritage, nature, culture, and friendly people, thus expanding Vietnam’s tourism appeal worldwide.

His plans include organizing international golf events, launching the Greg Norman Golf Academy, and providing advice on sustainable golf course development. He will also connect golf tourism with cultural and heritage tourism through events like the Heritage Golf Tournament in central Vietnam.

Under Mr. Norman’s first term, Vietnam won the title of “Best Golf Destination in Asia” for eight consecutive years and “Best Golf Destination in the World” in 2019 and 2021.

His reappointment is a strategic move to attract high-end international tourists, particularly from the US and Australia, boosting Vietnam’s reputation as a diverse tourism hub, the news agency remarked.

General Luong Tam Quang, Member of the Politburo, Minister of Public Security, and President of the National Data Association, tells Vietnam Economic Times / VnEconomy about developing the data economy for a prosperous Vietnam. 

What is the role and strategic vision of the National Data Association in developing Vietnam’s data economy, particularly in providing data-related resources to support research, startups, and innovation?

At the First National Congress for the 2025-2030 tenure of the National Data Association, held on March 22, 2025, in a keynote address, Party General Secretary To Lam expressed his belief that the Association would become the “Home for Digital Knights” and a “Pioneer” in the implementation of Politburo Resolution No. 57 and other resolutions on science and technology, thereby helping Vietnam become a digital nation, with digital governance, a digital economy, and a digital society developed on a foundation of Vietnamese data that is “accurate, sufficient, clean, and livable.”

He also assigned seven key missions to the Association. These include conducting research and proposing improvements to the legal framework surrounding data; playing a core role in building, developing, utilizing, and enriching national data; proactively adopting, mastering, and gradually becoming self-reliant in core data technologies, particularly AI, big data, blockchain, and cloud computing; supporting the advancement of modern data infrastructure; strengthening international cooperation, learning from global experiences, mobilizing resources, and participating in global data initiatives; establishing effective enforcement and monitoring mechanisms; and ensuring data security by developing secure systems, products, and services, formulating data security standards, and nurturing an industry around data security.

Importantly, the Party General Secretary emphasized the Association’s role in several key programs and initiatives. These include developing a data market for sustainable development; building a national open AI platform; rapidly promoting data literacy among the general public; organizing innovation challenge competitions based on data; and continuously enhancing national capabilities in data technology self-reliance.

Its strategic vision is to collaborate with relevant agencies and organizations to gradually achieve sovereign, secure, and transparent control over data, thereby driving socio-economic development and safeguarding national sovereignty, interests, and cybersecurity in cyberspace.

The Association also emphasizes four core values of data. These are security and safety – ensuring data is not compromised, stolen, or manipulated by foreign forces or cybercriminals; innovation – enabling optimal data utilization to unlock innovation and create added value across economic sectors; responsibility – as data is tied to public and community interests, its use must comply with the law, respect ethics, protect privacy, and uphold cultural values; and collaboration – promoting consensus, knowledge sharing, and resource connectivity to build a comprehensive, sustainable, and internationally-competitive data ecosystem.

What is your perspective on the Association’s role in accelerating digitalization, transforming business models, and developing a sustainable data market?

With the mission of acting as a bridge between the State, businesses, and the community, the National Data Association plays an important role in fostering a dynamic, transparent, and sustainable data ecosystem. It contributes to connecting different economic stakeholders in participating in the data market and promotes the formation of a data economy ecosystem, in which data is recognized as an asset that can be valued, traded, and reused.

The Association represents the voice of businesses and the data community, protects the rights and interests of its members, and proposes mechanisms and policies to promote the development of the data industry. It contributes to building a transparent and consistent legal framework for the data economy, particularly in matters concerning data ownership, sharing, and personal data protection. It also plays a part in improving training capabilities and enhancing the quality of high-skilled data professionals.

It also participates in fostering innovation and technology transfer in the field of data, encourages the development of open data mining and analytics platforms, strengthens international cooperation, and facilitates the transfer of technology from developed data economies around the world.

As a national-level socio-professional organization, the National Data Association will actively engage in policy consultation and the improvement of laws and regulations related to data security and safety. It will continue to act as a bridge between the government, businesses, and citizens by organizing seminars, dialogues, and forums to share challenges in data management, research, teaching, business, application, and development. Through these platforms, the public can raise concerns regarding personal data protection, and State agencies can introduce upcoming policies, thereby contributing to the formation of a transparent and civil “culture of data use” and enhancing public trust.

The Association will take the lead in coordinating with government bodies, political system agencies, and the business community to research, develop, and implement solutions that ensure data security and safety, cybersecurity, and information safety in the face of increasing risks and challenges in today’s environment.

To realize its role, mission, and strategic vision, what key tasks will the Association focus on in the immediate future?

The Association will soon focus on collaborating with relevant agencies and organizations to effectively implement the strategic directions of Party General Secretary To Lam, with the following key priorities.

First, it will conduct research and make proposals to help improve the legal framework for data, creating favorable conditions for data to be collected, circulated, connected, shared, and fully utilized while still ensuring data security, safety, and sovereignty. It will participate in building institutions for data development, including data products and services, the data market, and the data economy. The Association will propose the establishment of ownership rights and the management, processing, valuation, and distribution of data. It will also review and recommend policies and mechanisms that encourage and incentivize investment in the data sector and market, especially the development of data application models. Furthermore, it will make recommendations to State agencies on introducing breakthrough policies to attract FDI from global technology corporations and on promoting the participation of domestic and international enterprises in startups and investment in Vietnam’s data market. At the same time, it will research and develop products and services that ensure data security and personal data protection.

Second, the Association will concentrate on developing four key categories of data: human data, location data, activity data, and object data, in order to serve socio-economic development, management, governance, and national defense and security.

Third, it will strengthen the application, mastery, and eventual autonomy of core data technologies, particularly AI, big data, blockchain, and cloud computing. It will focus on developing core data products as directed by the government, including the National Data Sharing and Coordination Platform, the National Data Exchange, the National Blockchain Platform, National Decentralized Identity Solutions, the National Email System, the National Virtual Assistant, the National High-Performance Computing Center, and the National Digital Asset Exchange.

Fourth, the Association will work to build modern and advanced data infrastructure that is proactively invested in to lay the foundation for digital transformation. It will concentrate resources on the operation of national databases and the four pillar datasets: human, product, location, and activity. Alongside the National Data Center, it will expedite the development and completion of databases that support digital economic and digital society development, especially in agriculture, industry, commerce, energy, cultural heritage, national monuments, social insurance, labor markets, education, healthcare, transportation, and natural resources and the environment.

Fifth, it will enhance international cooperation, learn from global experience, attract resources, and participate in global data initiatives. It will promote information exchange, knowledge sharing, and the application of advanced technologies; selectively absorb international best practices suited to Vietnam’s conditions; and gradually build a unique “Vietnam Data” brand based on set principles.

Sixth, the Association will build effective implementation and supervision mechanisms for data management. It will coordinate with relevant agencies and organizations to establish and operate a more synchronized and rigorous supervision system powered by advanced digital technologies to ensure full and effective legal compliance within the scope of the Association’s duties.

And seventh, it will develop systems and products for data security, foster data security services, and establish standards for data protection to form an industry dedicated to this field. It will enhance the safeguarding of data sovereignty and security by applying advanced digital technologies and participating in the formulation and refinement of regulations to prevent and counter any attacks, intrusions, or data theft targeting national or sectoral databases

Vietnamese Ambassador to Laos Nguyen Minh Tam emphasized that cross-border e-commerce represents the shortest and most effective path for businesses from both countries.

The ministries of Industry and Trade of Vietnam and Laos on July 18 jointly held a seminar to promote cross-border e-commerce between the two nations, themed “Accompanying Businesses in the Digital Era,” according to a report from Radio the Vocie of Vietnam.

In his opening remarks, Vietnamese Ambassador to Laos Nguyen Minh Tam emphasized that cross-border e-commerce represents the shortest and most effective path for businesses from both countries, especially small and medium-sized enterprises (SMEs), to bring their products directly to consumers in the neighboring market, overcoming geographical and cost barriers.

Mr. Doan Xuan Huy, CEO of Globaltech Co., Ltd., stated that through the event, he hopes to find Lao partners to introduce Vietnamese technology for cooperation, connecting and developing supply chains.

He specifically highlighted a focus on OCOP (One Commune One Product) items and traditional craft village products, aiming to access the Lao market and eventually expand to Thailand and China via the transit corridor in Laos.

Meanwhile, Mr. Happy Sisomphone, Director of the Lao express delivery company Houng Aloun, noted that Vietnamese products are high-quality and have significant export potential to Laos. He expressed his company’s desire to act as a logistics bridge between the two nations, offering end-to-end services that include warehousing and logistics in Laos and transportation and distribution in Vietnam.

According to Ms. Duong Thi My Binh of the Viet Lao AZ Joint Stock Company (VLCO), who also represented the seminar’s organizing committee, the event was designed to introduce a comprehensive “toolkit”.

This toolkit includes sales platforms, logistics infrastructure, and payment solutions to help businesses, particularly SMEs, explore, connect, and establish a complete, end-to-end roadmap for bringing their products to each other’s markets.

On July 17, the Vietnam Pepper and Spice Association (VPSA) submitted an official petition to the Ministry of Agriculture and Environment (MoAE) over the slow issuance of food safety certificates for plant-based exports, especially spices, under Circular No.12/2025/TT-BNNMT.

EU regulations stall pepper exports

Since July 1, certification responsibility has shifted to provincial-level authorities. However, the new rules fail to fully inherit the procedures outlined in Circular No.44/2018, creating confusion and delays in certificate processing.

“Spice exporters are facing serious obstacles in securing certifications required by key markets, particularly the EU,” the VPSA noted in a formal request. “The bottleneck has stalled exports, disrupted supply chains, and eroded trust with international partners.”

The association called on the MoAE to urgently resolve administrative bottlenecks, revise the circular to align with international requirements, and implement immediate training for local authorities and exporters to streamline procedures.

In the short term, VPSA estimates that nearly 250 tonnes of pepper are being held back due to certification delays, threatening existing contracts and adding storage and logistics costs.

This issue mirrors similar challenges faced by fruit and vegetable exporters earlier this month, who were unable to ship goods like dragon fruit, chilli, and okra to Europe for the same reason.

According to the MoAE, Vietnam exported around 25,000 tonnes of pepper in June, valued at $169.2 million. In the first half of the year, total exports reached nearly 125,000 tonnes, worth $859.6 million, down 12.4 per cent in volume but up 35.7 per cent in value on-year.

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The festival was a long-cherished idea aimed at boosting trade promotion and business matchmaking for the fruit and vegetable sector.

The inaugural Vietnam Fruit and Vegetable Festival 2025 was held in Singapore on July 18,  with the Vietnam Trade Office in Singapore acting as the host, in partnership with the Singapore Fruits and Vegetables Importers and Exporters Association (SFVIEA).

Mr. Cao Xuan Thang, Trade Counselor and Head of the Vietnam Trade Office in Singapore, was quoted by the Vietnam News Agency as  stating at the event that the festival was a long-cherished idea aimed at boosting trade promotion and business matchmaking for the fruit and vegetable sector.

He noted that Singapore serves as a critical transshipment hub. By strengthening the presence of Vietnamese goods with international partners in the city-state, Vietnamese enterprises can leverage Singapore as a gateway to penetrate other regional markets.

The festival created numerous opportunities for trade and networking between Singaporean partners and Vietnamese businesses. Featured items included durian, Hoa Loc and Cat Chu mangoes, lychee, longan, coconut, dragon fruit, bananas, pomelo, various mushrooms, taro, and an assortment of vegetables and spices.

Vietnamese Ambassador to Singapore Tran Phuoc Anh, also quoted by the news agency, described the collaboration as a highly beneficial initiative for promoting bilateral trade. He said that fruits and vegetables were chosen as the initial focus due to the sector’s immense potential.

“With our strengths in diverse, fresh, high-quality products at prices suitable for the Singaporean market, we have identified this as a spearhead sector to penetrate Singapore and, from there, expand to other regions,” the ambassador said.

Meanwhile, Mr. Tai Seng Yee, Vice Chairman of the SFVIEA, emphasized that Singapore is a highly competitive market.

 “It is therefore excellent that Vietnam is supplying a greater variety of high-quality fruits and vegetables here,” he said, as quoted by the news agency. He also highlighted Singapore’s role as a highly efficient logistics hub, capable of facilitating the re-export of Vietnamese produce to other markets.

Throughout the festival, the Vietnam Trade Office showcased the nation’s agricultural advantages, particularly the diversity of its specialty crops, consistent quality, and competitive pricing, which are considered key strengths of its fruit and vegetable industry.

The event also served as a platform to promote Vietnam’s traditional culinary culture and provided an invaluable opportunity for Vietnamese enterprises to connect directly with a wide range of international partners in Singapore, including supermarket chains, industry associations, chambers of commerce, hotel groups, and wholesale and retail businesses.

Total investment capital estimated at $638 million.

The People’s Council of northern Thai Nguyen province has approved a project to build the Hanoi – Thai Nguyen – Cho Moi expressway under the Public – Private – Partnership (PPP) model.

The 100.69-km expressway will start from the intersection of the Ring Road No.3 in Hanoi and end at the Thanh Binh intersection in Cho Moi commune in  former Bác Kan province (now Thai Nguyen).

Total investment capital is estimated at VND16.789 trillion ($638 million). Of which, over VND5.3 trillion ($201 million) will be funded from the State budget.

The project consists of two sections. The first section is 61.2km long,  lasting from Hanoi to Thai Nguyen. It will have six lanes, allowing a maximum speed of 100 kph. The second, lasting from Thai Nguyen to Cho Moi commune, will have four lanes and allowing a maximum speed of 100 kph.

 

HONG KONG SAR – Media OutReach Newswire – 16 July 2025 – MSIG Insurance (Hong Kong) Limited (“MSIG”) today published its sixth annual MSIG Claims Report which presents the total claims honoured in Hong Kong and Macau during the year as well as the insurer’s latest initiatives. In 2024, MSIG’s claims settlement ratio reached 94.5% – rising for the third consecutive year, up from 92.4% in 2021.

The insurer honoured claims totalling HK$347,983,977 in Hong Kong and Macau, while receiving just 9 complaints throughout the year (down from 13 in 2023 and 50 in 2020). 2024 was also the first year that two categories – Employees’ Compensation Hong Kong and Marine – achieved 100% settlement ratios, a significant milestone that reinforces why the insurer has grown as a trusted partner. Helper (99.17%) and Personal Accident (96.85%) followed as the next highest categories.
In 2024, MSIG put even more emphasis on quick response and rapid claims processing. This led to significant compliments from customers and wide-ranging examples of how the insurer responds to incidents with fast, intuitive processes that help those affected to move forward.
Philip Kent, Chief Executive Officer of MSIG Hong Kong, said: “Every year brings new challenges, and 2024 was no different. Our teams have worked exceptionally hard to ensure that our service to customers remains at the fore, because we know that every claim is personal. By making the claims process faster and easier, we aim to help each of our customers move forward with assurance that they will receive the financial compensation they are owed. Innovation is at the heart of this, and our teams should be proud of the industry recognition they have received for their efforts. I have every confidence that we will continue to go from strength to strength in providing sincere customer service backed by leading digital capabilities – all part of our commitment to supporting our customers at every phase of their lives.”
MSIG’s focus on claims excellence has led to notable industry recognition in 2024, including:

  • Second consecutive year as a Top 3 Finalist in the category of “Outstanding Claims Management Award – General Insurance” – Hong Kong Insurance Awards 2024

  • Winner of “Claims Initiative of the Year” – InsuranceAsia News Awards for Excellence 2024

Setting the service standard in digital claims
Following the launch of Zero Touch, a digital solution for claims assessment that streamlines verification of customers’ claims history, policy validity and claims payment amounts, in the second half of 2023, the project has reported exceptional gains in efficiency. For Helper Insurance claims specifically:

  • Claims processing times have been reduced from 3-5 days to as little as 15 minutes for eligible clinical and dental claims.

  • Almost 75% of Helper claims are now automated, saving claims specialists some 200+ working days annually.

  • Simple claims do not require manual intervention anymore, increasing the focus on value-added services.

Building on this success, MSIG intends to further extend Zero Touch to cover its medical products in the future.
Innovating for the future
In 2024 and early 2025, MSIG introduced a suite of new services to support customers at every step:

  • MSIG Easy Lounge Service: Complimentary airport lounge access for travel insurance customers experiencing delays over 60 minutes, available at 1,600+ airports worldwide.

  • Claims Status Enquiry Page: 24/7 online claims tracking for peace of mind.

  • Day Case Endoscopy Programme: Cashless, convenient endoscopy arrangements for medical insurance customers.

  • Door-to-door Luggage Repair Service: Free pickup and delivery for travel-damaged luggage.

  • Overseas Medical Teleconsultation: Free telemedicine services for travel insurance customers travelling in Japan, Singapore, Thailand, Vietnam, and the Philippines.

Also reflecting MSIG’s overarching emphasis on extraordinary customer service and claims management was its inaugural “Serving with Heart, Putting You above All” branding campaign. Featuring videos of common insurance scenarios, the insurer partnered with Key Opinion Leaders to convey how a simple, intuitive claims experience can result in needed assurance during unexpected incidents.

The issuer is solely responsible for the content of this announcement.