Vietnam is committed to fostering an open and favorable environment for foreign investors, including those from the United States, Vietnam Party General Secretary affirmed during a meeting in Hanoi with Nicholas Berggruen, founder and chairman of Berggruen Holdings and the Berggruen Institute, and director of the Weatherhead East Asian Institute at Columbia University.
Highlighting the importance of Vietnam-U.S. ties, Party Chief emphasized the growing collaboration in education, culture, and people-to-people exchanges. “Vietnam values its comprehensive strategic partnership with the United States and is determined to deepen bilateral cooperation for the benefit of both nations’ people and enterprises,” he said.
Sophie Dao, Senior Partner at GBS, a leading investment consulting firm in Vietnam, praised these commitments. “Vietnam’s proactive efforts to attract foreign investment and build strong international partnerships are truly commendable. By prioritizing transparency and collaboration, the country continues to be a magnet for global investors,” she remarked.
Party General Secretary also pointed to the Vietnam-U.S. Comprehensive Strategic Partnership’s remarkable achievements, underscoring the critical role of businesses, scholars, and the public in driving progress. He encouraged Berggruen to explore new opportunities for investment and research in Vietnam and to facilitate partnerships between Columbia University and Vietnamese institutions.
Vietnam’s long-term goals, as outlined by the 13th National Party Congress, include becoming an upper-middle-income country by 2030 and a high-income developed nation by 2045. To achieve these ambitions, the country is focused on building an independent and self-reliant economy while actively integrating into the global community.
“Vietnam’s commitment to innovation, science, and technology, combined with its highly skilled workforce, makes it an attractive destination for investors seeking long-term opportunities,” Sophie Dao added. “At GBS, we’ve witnessed firsthand how Vietnam is leveraging its resources to create sustainable growth.”
During the meeting, Berggruen commended Vietnam’s achievements and leadership vision, pledging their continued support for initiatives to strengthen bilateral ties. They expressed confidence in Vietnam’s ability to meet its development goals and promised to help identify suitable investment opportunities that align with the nation’s priorities.
As Vietnam looks to the future, its focus on global integration, innovation, and sustainable development will position it as a key player on the world stage, attracting both foreign investments and strategic partnerships.
Ho Chi Minh City, Vietnam’s bustling economic hub, is undergoing a remarkable transformation. The skyline is now dominated by towering new buildings, while major international brands and restaurants have established a firm presence along its busy streets. This surge in development is fueled by increasing foreign investment, as the city opens its doors to new business opportunities, aided by significant reductions in bureaucratic red tape, Callum Stewart reported.
“Foreigners can now open restaurants, service companies, and shops with far greater ease than before,” noted Sophie Dao, Senior Partner at GBS, an investment consulting firm in Vietnam. This shift marks a stark contrast to the challenging environment of just a few years ago.
The city’s rapid growth has not gone unnoticed. Global real estate consultancy Jones Lang LaSalle has ranked Ho Chi Minh City as the second fastest-developing city in the world, putting it in the same league as Silicon Valley and London. The appeal lies in a combination of low operating costs and a young, educated workforce—an ideal foundation for sustained economic success.
Vietnam’s economy has maintained an impressive GDP growth rate of 6-7% annually over the past decade. However, this rapid development is not without challenges. Experts caution that maintaining this momentum will require careful management.
Key hurdles include a lack of transparency in government policies and infrastructure limitations. Traffic congestion in the city is becoming increasingly problematic, underscoring the urgent need for infrastructural upgrades.
Additionally, economists warn against unchecked investment inflows, drawing parallels to the exuberance of 2007-2008, when Vietnam struggled to absorb an overwhelming surge of capital. “The government must carefully manage the pace and nature of incoming investments to avoid overheating the market,” advised a financial analyst.
Despite these challenges, Ho Chi Minh City’s success story is well underway. If managed wisely, the city’s economy has the potential to achieve even greater heights, solidifying its position as a key player on the global stage.
In 2024, favorable visa policies, intensified tourism promotion efforts, and prestigious awards from international organizations have significantly boosted Vietnam’s appeal to international visitors.
In December 2024, international visitors to Vietnam reached 1.75 million, an increase of 27.4% over the same period last year. In 2024, international visitors to Vietnam reached nearly 17.6 million, an increase of 39.5% over the previous year and equal to 97.6% of 2019 – the year before the Covid-19 pandemic.
Of which, arrivals by air reached more than 14.8 million, accounting for 84.4% of international arrivals to Vietnam and increasing by 35.6% over the previous year; by road reached nearly 2.5 million, accounting for 14.2% and increasing by 63.3%; by sea reached nearly 248.1 thousand, accounting for 1.4% and increasing by 96.7%.
In 2024, the Korean market will account for the largest proportion of international visitors to Vietnam with 4.56 million arrivals. In 2024, Asia will contribute nearly 80% of the total number of international visitors to Vietnam. The four major markets in Northeast Asia, including China, South Korea, Taiwan (China), and Japan, will contribute nearly 60% of the number of visitors to Vietnam. Some markets that contribute a large number of international visitors to Vietnam are the US, Australia, India, Malaysia, Cambodia, and Thailand.
Revenue from accommodation and catering services in 2024 is estimated at VND 733.9 trillion, accounting for 11.5% of the total and up 12.9% over the previous year. Revenue from tourism and travel in 2024 is estimated at VND 62.5 trillion, accounting for 1.0% of the total and up 16.0% over the previous year as localities have actively promoted tourism since the beginning of the year, increasing the attraction of domestic and international visitors.
The number of Vietnamese people leaving the country in the fourth quarter of 2024 was 1.2 million, an increase of 3.4% over the same period last year. In general, in 2024, the number of Vietnamese citizens leaving through Vietnam’s border gates was 5.3 million, an increase of 5.5% over 2023.
Total revenue from tourists in Hanoi during the 2025 New Year holiday is estimated at VND594 billion, up 26% over the same period last year. The positive results on the first day of the new year are a premise for Hanoi tourism to aim for a higher goal for the whole year of 2025.
It is estimated that during the 2025 New Year holiday, the average room occupancy rate of 4-5 star hotels and tourist apartments in Hanoi will reach about 80%. Some apartment and hotel complexes have achieved quite high room occupancy rates such as: Sheraton Hanoi West Hotel, InterContinental Hanoi Landmark72 Hotel, Silk Path Hotel chain, La Nueva Boutique Hotel Hanoi, Lotte Hanoi Hotel…
Because the New Year holiday this year is only 1 day, most people choose to rest and travel on the spot. It is estimated that the number of tourists coming to Hanoi reached 160,000, up 17% over the same period last year, of which: international tourists are estimated at 28,400, up 67%; domestic tourists are estimated at 132,000, up 10%. Total revenue from tourists is estimated at 594 billion VND, up 26% over the same period last year.
The highlight of this year’s New Year’s Eve is the New Year countdown programs and fireworks displays in many areas of Hanoi, attracting a large number of people and tourists to visit and experience. The walking street space around Hoan Kiem Lake and its vicinity will operate from 7:00 p.m. on December 31, 2024 (Tuesday) to midnight on January 1, 2025 (Wednesday), along with traditional art performances that are of particular interest to people and tourists.
The suburban areas of Hanoi have many ideal destinations for people and tourists to enjoy the New Year holiday such as: Me Linh Flower Festival with brilliant flowers; tours to visit famous flower and ornamental plant villages of Hanoi: Hong Van ornamental plant village (Thuong Tin), Phu Dong tourist site (Gia Lam), Nhat Tan tourist area (Tay Ho), experience rural tourism and buy ornamental plants in Tich Giang (Phuc Tho district); experience the colorful space and incense stick making profession at Quang Phu Cau incense village (Ung Hoa district); explore and experience pottery making at Bat Trang ancient village…
According to the general assessment of the Hanoi Department of Tourism, on the occasion of the 2025 New Year, tourist accommodation service businesses and services that meet the standards for serving tourists in Hanoi have seriously implemented security, safety, fire prevention, food safety and hygiene, environmental sanitation and the reporting and declaration of temporary residence and temporary absence regimes have been fully complied with by accommodation and service units according to regulations.
Hanoi tourism aims for new goals
In recent times, it can be seen that the entertainment needs of people and tourists in the evening in Hanoi are very large, especially on the occasion of major holidays, vacations or important events. Therefore, night-time economic development models have been focused on development in recent years. Hanoi Department of Tourism issued Plan No. 30/KH-SDL dated March 27, 2024 on building and developing night tourism products in Hanoi.
Many night tour products have been put into operation and attracted a large number of participants and high appreciation from tourists such as: “Sacred Night” tour of Hoa Lo Prison Relic Site; “Decoding Thang Long Imperial Citadel” night tour, “Essence of Confucianism” night tour of Van Mieu – Quoc Tu Giam…; “Heart and Talent” literature tour; “Return to the Ancient Vietnamese Capital” tour… Evening activities on walking streets in Hanoi also attract the attention and participation of a large number of people and tourists.
Looking back at 2024, Hanoi tourism welcomed and served about 27.86 million visitors, an increase of 12.7% compared to 2023. Including: 6.35 million international visitors (including 4.47 million international visitors with accommodation), an increase of 34.4% compared to 2023 and 21.51 million domestic visitors, an increase of 7.5% compared to 2023. Total revenue from tourists reached about 110.52 trillion VND, an increase of 18.3% compared to 2023.
In 2024, Hanoi will continue to be voted and honored by prestigious travel organizations and consulting sites around the world, such as the award “Vietnam’s Leading Cultural Destination 2024”; “Asia’s Leading City Destination 2024”; “Asia’s Leading Short-Term City Destination 2024” by the World Travel Awards; the award “World’s Leading Culinary City 2024”; “Asia’s Leading Culinary City 2024” by the World Culinary Awards; the award “World’s Leading Destination 2024”, “World’s Most Attractive Culinary Destination 2024” voted by the Tripadvisor platform… These awards affirm Hanoi’s attractiveness to domestic and foreign tourists, continuing to prove itself as a bright spot in tourism with diverse tourism products.
The positive results on the first day of the new year are the premise for Hanoi tourism to aim for a higher goal in 2025. Accordingly, the capital’s tourism industry strives to attract over 30 million visitors, an increase of 11.1% compared to the estimated implementation in 2024 with over 7 million international tourists (including 5 million visitors with accommodation), an increase of 27.3% compared to the estimated implementation in 2024 and 23 million domestic tourists, an increase of 7% compared to the estimated implementation in 2024. Total revenue from tourists in the capital in 2025 is expected to reach over 130 trillion VND, an increase of 26.1% compared to the estimated implementation in 2024.
VCCI calls on its staff and member businesses to actively respond to the movement of Vietnamese people giving priority to using Vingroup products and services.
On January 8, 2025, the Vietnam Federation of Commerce and Industry (VCCI) and Vingroup signed a memorandum of understanding on comprehensive cooperation on promoting green transformation and sustainable development.
Accordingly, the two sides will work together to elevate Vietnamese brands in the international market and respond to and strongly promote the movement of Vietnamese people prioritizing the use of Vietnamese products in a green and sustainable manner.
According to the memorandum of understanding, VCCI and Vingroup will cooperate comprehensively in many fields towards the goal of contributing to building a green Vietnam.
At the macro level, the two sides will cooperate to implement programs to contribute ideas on policies, laws, and build a Vietnamese business culture towards green transformation. Vingroup and VCCI will implement specific projects to promote green transformation in the business community such as sustainable development in enterprises (Corporate Sustainability Index – CSI), green business environment (Provincial Green Index – PGI) and other related programs.
The two sides will also prioritize the use of each other’s services and goods, and jointly promote the development of potential projects that bring benefits to both sides to achieve the goal of green and sustainable development.
VCCI calls on its staff and member businesses to actively respond to the movement of Vietnamese people prioritizing the use of Vietnamese goods and Vingroup products and services, including VinFast electric vehicles, to promote green transformation in transportation.
It is known that from only 93 initial members, VCCI has now become a strong organization, with a large nationwide membership network of over 200 business associations and over 200,000 businesses in all fields, all industries, and all economic sectors. VCCI representatives estimate that the current team of business leaders is up to 2-3 million people. Including business people and individual business households, this number can reach over 10 million people.
In return, Vingroup will support VCCI, its staff and member businesses in green transformation activities, implementing social responsibility projects in using green products, clean energy, planting trees, and raising awareness of environmental protection.
VCCI member enterprises with sufficient capacity and conditions can cooperate to become agents distributing VinFast products and services, thereby expanding the business network at home and abroad. In addition, the two sides will study cooperation in the field of developing electric vehicle charging stations, thereby promoting the use of green vehicles, towards a zero-emission living environment.
Mr. Nguyen Quang Vinh – Vice President of VCCI emphasized: “Today’s cooperation is not only a connection between two large organizations but also a symbol of the solidarity of the Vietnamese business community in the mission of green transformation. With the companionship of Vingroup – a pioneering and influential enterprise, along with the coordinating role of VCCI, I believe that our common goals will be realized, bringing practical benefits to the community, businesses and the country ” .
Ms. Le Thi Thu Thuy – Vice President of Vingroup Corporation shared : ” Vingroup is fully aware of its responsibility and pioneering role in accompanying the business community in particular and the society in general in the green transformation process. We believe that the cooperation between Vingroup and VCCI will create a synergistic strength, spreading positive values, contributing to bringing the Vietnamese economy firmly into the era of sustainable development.”
There are many businesses and entrepreneurs willing to support Nguyen Xuan Son during his injury treatment.
Announced on the fanpage, Omoda & Jaecoo Vietnam said that Nguyen Xuan Son has conquered the hearts of fans with explosive moments and constant dedication at the AFF Cup 2024. To express gratitude for this inspiring journey, the Automobile joint venture between Geleximco Group and Chery Group is pleased to present a Jaecoo J7 PHEV. It is known that the Jaecoo J7 PHEV model has a selling price in Vietnam of about 900 million VND.
In the journey to conquer the AFF Cup 2024 championship, striker Nguyen Xuan Son made important contributions. The player currently playing for Nam Dinh Steel Club ended the tournament with 7 goals, becoming the first Vietnamese player to exclusively win the “Top Scorer” award. However, in the second leg of the final, this striker suffered a serious injury.
However, many businesses and businessmen are willing to support Nguyen Xuan Son during his injury treatment. Specifically, Xuan Son was awarded 10,000 USD by Agribank, equivalent to more than 250 million VND.
In addition, Mr. Nguyen Van Thien, Chairman of the Board of Directors of Xuan Thien Group and “boss” of the Nam Dinh Green Steel Football Club, announced that he will sponsor all surgical and treatment costs for Nguyen Xuan Son. He affirmed that “he will use all the best treatment methods to help Son return to continue contributing to the Vietnam National Team”.
In addition, Ms. Nualphan Lamsam (also known as Madam Pang) supported medical expenses and provided full care before player Nguyen Xuan Son returned to Vietnam with the entire team.
In addition to exchanging new money and small change, ‘money traders’ on the Internet also sell lucky money, unique money, rare money, and foreign currencies from many countries.
“Exchanging Tet lucky money” and “exchanging new money” have become popular search keywords in recent days, however, people should be careful because this type of service often comes with many risks.
“Hot” currency exchange service
With less than a month to go until the Lunar New Year 2025, at this time, people’s demand for new money to give lucky money, go to temples, pagodas, etc. is increasing day by day. Just type the keyword “exchange Tet lucky money” on social networks and hundreds of posts and groups will appear with invitations and commitments of “real money”, “new money”, “cheapest price on the market”… Many account owners even accept “wholesale” of small change and new money for those in need or recruit collaborators to post articles.
In addition to the service of exchanging new money and small change, “money traders” on the Internet also sell lucky money, unique money, rare money, and foreign currencies from many countries. These types of money are mainly transferred directly from abroad, with the selling price often many times higher than the actual face value depending on the uniqueness and strangeness of the money.
According to records, on social networking groups, a series of groups exchanging small change and new money are operating actively with a large number of members. Not only are articles introducing money exchange services continuously posted, but related comments are also equally bustling.
In addition to extremely attractive offers such as low exchange fees, commitment to real money, original series of money, the subjects are also willing to deliver to the door, the money changer is required to check before receiving the goods.
To compete, the service fee for currency exchange also fluctuates flexibly depending on the time. Accordingly, for new currencies with high denominations such as 100,000 VND, 200,000 VND, the exchange fee is from 3 – 6%. For small currencies such as 1,000 VND, 2,000 VND, the fee is higher, from 10 – 14%. The larger the amount of exchange, the more “reasonable” the service fee is discounted.
Ms. Bui Lan Anh (Dong Da District, Hanoi) shared that since the end of the 11th lunar month, when she went to 2 banks to exchange her savings book, she asked the staff to exchange “a few pieces” of new money in denominations of 5,000 VND, 10,000 VND, 20,000 VND to attend the festival and give lucky money to her children in her hometown, but all of them shook their heads. They explained that for nearly 10 years, the State Bank has not issued money with denominations under 50,000 VND on the occasion of Lunar New Year.
Because she could not exchange money for her needs, Ms. Lan Anh sought out money exchange groups online. Ms. Lan Anh checked the price through a Facebook account that accepts new money exchange in Hanoi. The 5,000 VND, 10,000 VND, 20,000 VND denominations usually have an exchange fee of 7 – 10%. If she exchanges a lot or a large denomination, the exchange fee is about 5%. The closer it is to Tet, the higher the fee.
“That is for new money, original serial number, but for used money that is no longer original serial number, the fee for small denominations is about 5 – 7% depending on the type,” said Ms. Lan Anh.
Be careful of “falling into the trap”
The Information Security Department (Ministry of Information and Communications) warns that advertisements for new currency exchange services on social networking sites pose many risks to those who need to exchange money. In fact, there have been many victims who have made transactions to exchange new currency but when they received the exchanged money, it was not as promised, or even received counterfeit money.
There have been many cases where people have transferred money but the social media account owner has blocked contact and disappeared, “skipping” the customer’s deposit. Usually, those who “fall into the trap” of scams and have counterfeit money exchanged consider it “unlucky” and do not report it to the authorities for fear of being held accountable.
The Information Security Department notes that the acts of collecting and exchanging new money or small change from other individuals and organizations to enjoy the difference and exchanging money online without permission are all violations of the law and must be prevented and strictly handled.
Therefore, people need to be vigilant against strangers and absolutely do not exchange money via social networks to avoid becoming “prey” and aiding fraudulent acts.
“You should only use currency exchange services from banks and organizations with legal operating licenses,” the leader of the Information Security Department noted.
According to lawyer Bui Quang Thu, Hanoi Bar Association, the current currency exchange is carried out in accordance with Circular 25/2013/TT-NHNN (Regulations on the collection and exchange of money not meeting circulation standards) of the State Bank.
According to this Circular, only organizations licensed by the State are allowed to conduct currency exchange activities, including: State Bank, State Bank branches, State Bank transaction offices, credit institutions, foreign bank branches, and State Treasury.
Attorney Thu emphasized that, apart from these units, all money exchange activities of other individuals and organizations are illegal. Any act of exchanging new money or small change to enjoy the % difference or exchanging money for profit is illegal and can be punished.
Exchanging small change online is very risky. Many people can take advantage of people’s needs to exchange short money, use illegal money, money of unknown origin or even counterfeit money.
In addition, the money changers are just acquaintances online, and do not even have a clear organization or headquarters. When exchanging counterfeit money, people also face risks when having to prove the origin of the money…
Other legal experts also recommend that people need to be vigilant and careful to avoid losses when exchanging money online. The safest way to exchange small change is to go to the bank.
Therefore, to avoid falling into the trap of scammers and to protect their legitimate rights, people during Tet should go to banks to exchange money when needed.
Exchanging money in violation of the law will be fined up to 40 million VND according to Decree 88/2019/ND-CP. Organizations that exchange money in violation of the law will be fined twice as much, from 40 to 80 million VND.
The Straits Times recently published an analysis stating that 2025 will be a turning point, when the use of artificial intelligence (AI) becomes more popular and has a strong impact on social life. However, collecting quality data to promote AI is also becoming more difficult, creating an opportunity to adjust the way AI is developed.
As automation and robots become more widely used, many office jobs that were once considered safe could be threatened, according to the article. Automation technology will help increase productivity and efficiency, but it will also pose challenges to workers’ livelihoods. Consulting firm Accenture predicts that about 30% of working hours across Asia-Pacific will be automated thanks to artificial intelligence, especially in Australia, Japan, China and India. The most affected sectors are capital markets, software and platforms, banking, insurance and retail.
According to the author of the article, countries with high youth unemployment rates will need to be well prepared to cope with the changes that AI brings.
The paper also notes that data plays a key role in AI development, but currently, collecting quality data is becoming more difficult as many websites restrict access to data. In 2023-2024, more and more websites are blocking AI data, negatively impacting the ability to develop new AI models. About 5% of the 14,000 websites surveyed modified their “robots.txt” files to block AI crawlers. In addition, the cost of training AI models is also increasing, 5-10 times higher than the cost of developing existing models, putting great pressure on researchers and businesses in the field. This is due to the high cost of chips, the scarcity of AI talent, and the general lack of data.
Finally, the author concludes that 2025 will be a time when AI applications continue to flourish, while also promoting a deep discussion about the long-term direction of AI.
District 3 Tax Department (HCMC) decided to impose a fine of nearly VND53 million for false declaration leading to underpayment of value added tax for Yeah1 Group Joint Stock Company. Yeah1 was also charged over VND221 million in value added tax and nearly VND44 million in late payment fees.
Yeah1 Group Corporation (stock code: YEG) has just sent a document to the Ho Chi Minh City Stock Exchange (HoSE) reporting that the company has received a decision on administrative sanctions for tax violations from the Tax Department of District 3, Ho Chi Minh City.
Accordingly, Yeah1 was fined nearly 53 million VND for false declaration leading to underpayment of value-added tax, false declaration leading to underpayment of corporate income tax and false declaration of indicators on the declaration. Yeah1 was also charged over 221 million VND in value-added tax and nearly 44 million VND in late payment fees.
In addition, Yeah1’s loss in 2021 was adjusted to be reduced by nearly VND 1.1 billion, due to the transfer of the 2021 loss to the 2022 corporate income settlement period of nearly VND 392 million and the transfer of the 2021 loss to the 2023 corporate income settlement period of nearly VND 694 million. The total loss transferred to the next period is still more than VND 9 billion (loss of 2021).
Yeah1 Group Corporation affirmed that, as of the time of information disclosure, Yeah1 has completed its obligation to pay administrative fines and tax arrears and late tax payments according to the decision.
This is not the first time Yeah1 Group Corporation has been fined for tax. At the end of May 2024, Yeah1 was also fined and had to pay back 991 million VND in taxes.
At the end of 2024, Yeah1 sent a document to HoSE, explaining why YEG shares increased to the ceiling price for 5 consecutive sessions, from December 17-23.
Accordingly, Yeah1 believes that YEG shares have increased to the ceiling for 5 consecutive trading sessions due to the objective supply and demand developments of the stock market. The stock trading price is determined by the market and is beyond the control of the company. Yeah1 commits to not having any impact on the trading price of YEG shares on the stock market.
The company’s business activities are still operating normally, according to the set plan and without any unusual fluctuations.
On the other hand, the company has actively restructured its operations, optimized its management and operations, and focused on developing its core business segments, including the production and broadcasting of digital-based programs and high-quality television programs that have received support from a large audience and created a huge social media effect.
The success of the programs and other business segments contributed to the improvement in the company’s business results compared to the previous period.
Yeah1 has just announced a plan to offer 54.8 million shares to existing shareholders at a rate of 40%, meaning that shareholders who own 100 shares are entitled to buy 40 new shares. The registration period is from February 3 to March 3. With an offering price of VND10,000/share, Yeah1 expects to earn VND548 billion from the above offering. After completing the deal, the company will increase its charter capital from VND1,370 billion to VND1,918 billion.
While Vietnam is an attractive destination for expatriates, investors, and tourists due to its vibrant culture, growing economy, and strategic location, foreigners often face several challenges when living, working, or doing business in the country.
Sophie Dao, Senior Partner at GBS – Global Business Services LLC said: “Vietnam is an exciting market full of potential, but success requires preparation and local insight. At GBS, we’ve helped many foreign investors navigate these challenges, turning them into opportunities for growth and success.”
Below are the key pain points:
Language Barrier
Vietnamese is a tonal language, and proficiency in English varies widely across regions and demographics. While urban centers like Hanoi and Ho Chi Minh City have better English fluency, rural areas still pose significant language barriers. Misunderstandings in business negotiations, daily interactions, and official paperwork can create frustration and delays.
Hiring interpreters, learning basic Vietnamese phrases, and using translation apps can help bridge the communication gap.
Bureaucracy and Regulatory Complexity
Vietnam’s legal and administrative processes can be bureaucratic and time-consuming, particularly for foreign businesses and investors. Frequent regulatory updates and unclear interpretations of rules create hurdles. Delays in licensing, approvals, and compliance processes can affect business timelines and profitability. Partnering with experienced local legal consultants and advisors ensures smoother regulatory navigation.
Sophie Dao emphasizes: “Understanding Vietnam’s regulatory environment is essential for foreign investors. Partnering with local experts who understand the nuances of the system can make all the difference.”
Business Culture Differences
Vietnamese business culture places significant emphasis on relationships (guanxi), hierarchical structures, and indirect communication. Foreigners unfamiliar with these cultural nuances might struggle with negotiations, trust-building, and relationship management. Take time to build relationships, show respect for hierarchical structures, and demonstrate patience in negotiations.
Expat Celebrating Tet Holiday With Vietnamese
Infrastructure Limitations
While Vietnam has made significant strides in infrastructure development, issues like traffic congestion, limited public transport options, and inadequate logistics networks persist.
Delays in transportation, high logistics costs, and uneven infrastructure development across regions can disrupt business operations.
Plan for longer lead times in logistics and consider locations with better infrastructure support for business investments.
Intellectual Property (IP) Protection
Enforcement of intellectual property rights (IPR) remains inconsistent in Vietnam, with counterfeit goods and brand piracy still prevalent in certain industries. Foreign businesses, especially in retail, technology, and creative industries, risk having their trademarks and products copied. So, you should work with legal advisors to register IP rights locally and ensure contracts include strong IP protection clauses.
Talent Shortages and Retention Issues
While Vietnam has a young and dynamic workforce, there is often a shortage of highly skilled professionals in specialized sectors such as technology, finance, and engineering. Foreign companies might struggle to recruit and retain skilled local talent, leading to reliance on expatriates, which raises operational costs. Invest in employee training programs, offer competitive compensation packages, and focus on retention strategies.
Banking and Financial Systems
While Vietnam’s financial sector has modernized, banking procedures for foreigners can still be cumbersome, especially in opening accounts, transferring money, or accessing certain financial products.
Delays in financial transactions and difficulty in repatriating profits can create barriers for foreign businesses.
Work with international banks that have a strong presence in Vietnam and seek expert financial advice.
Cultural and Social Adaptation
Differences in social norms, customs, and lifestyle expectations can create culture shock for foreigners. Expats may experience challenges integrating into local communities, building social networks, or adjusting to workplace culture. Engage in cultural training, join expat communities, and remain open to local traditions and practices.
Unclear Taxation Policies
Vietnam’s tax system can be complex for foreigners, with frequent policy changes and varying tax rates across sectors. Non-compliance or misunderstanding of tax obligations can result in fines or legal complications. Hire qualified tax consultants familiar with Vietnam’s taxation laws and ensure transparent financial reporting.
Environmental and Pollution Concerns
Air pollution, particularly in major cities like Hanoi and Ho Chi Minh City, along with waste management issues, can affect the quality of life for foreigners. Health concerns and reduced living standards may deter long-term commitments from expatriates and investors. Choose residential areas with better environmental conditions and invest in air and water purification systems.
Turning Challenges into Opportunities
While Vietnam presents challenges for foreigners, these hurdles can be effectively managed with the right approach, local partnerships, and preparation.
Vietnam remains an attractive destination for investment and living, offering enormous opportunities for those who can adapt to its unique landscape and leverage local expertise.
According to regulations, traffic violators cannot escape paying fines even if they abandon their vehicles and do not come to claim them. If they are late in paying, they will be forced to pay more.
Traffic violations are heavily fined but don’t abandon your vehicle.
Currently, many people think that they will be fined heavily for traffic violations while the value of the vehicle is too low, so they abandon the vehicle to avoid paying the fine . According to lawyer – Dr. Nguyen Thi Kim Vinh (TNJ Law Firm), this understanding is incorrect and they still have the obligation to pay the fine.
Because, according to Clause 1, Article 66 of the Law on Handling of Administrative Violations 2012, from the time of making a record of administrative violations, the competent person must issue a decision to impose a penalty within 7 days.
Pursuant to Clause 1, Article 73 of the Law on Handling of Administrative Violations, individuals and organizations subject to administrative sanctions must comply with the sanction decision within 10 days from the date of receipt of the decision. In case the administrative sanction decision states a period of implementation of more than 10 days, it shall be implemented according to that period.
When the deadline for executing the penalty decision has expired and the violator still fails to fulfill his/her obligations, for each day of delay in paying the fine, an additional 0.05% of the total unpaid fine amount will be charged (Article 78 of the Law on Handling of Administrative Violations). At the same time, the violator will be forced to execute the penalty decision according to Article 86 of this Law.
Specifically, violators will have a portion of their salary or income deducted, and money deducted from their accounts. Violators may also have their assets with a value equivalent to the fine amount seized for auction. In addition, violators may also have their money and other assets held by other individuals or organizations confiscated, in cases of intentional asset disposal.
When will the motorbike be confiscated?
According to lawyer – Dr. Nguyen Thi Kim Vinh, based on Decree 168 of 2024 of the Government (effective from January 1), motorbikes will be confiscated in the following cases:
Let go of both hands while driving; use your feet to drive; sit on one side of the vehicle to drive; lie on the seat to drive; change drivers while the vehicle is moving; turn around to drive, or drive blindfolded.
Control the vehicle by running on one wheel for a two-wheeled vehicle, by running on two wheels for a three-wheeled vehicle.
Illegal racing.
Repeated offense of driving a vehicle in a zigzag or swerving manner on the road; using a kickstand or other object to scrape the road while the vehicle is running.
Driving a vehicle manufactured or assembled in violation of traffic regulations.
Illegally cutting, welding, erasing, chiseling, re-stamping the chassis number, engine number (machine number), and putting this vehicle into traffic.
Using vehicles that have exceeded their usage period to participate in traffic, except for the act of using vehicles for transportation business with an usage period that does not ensure the conditions of the registered business form…
When are cars and similar vehicles confiscated?
Repeated offenses of driving in a zigzag manner on the road; speeding and chasing each other on the road; using feet to control the steering wheel while the vehicle is running on the road.
Illegal racing.
Driving a vehicle that is past its expiration date on the road.
Driving vehicles manufactured or assembled in violation of regulations on the road (including agricultural vehicles subject to suspension from traffic, trailers and semi-trailers being towed).
Repetition of the act of carrying more than 100% of the number of people allowed by the vehicle being a passenger car or a passenger car (except buses).
Repeated offense of carrying more than 100% of the permitted number of passengers by a passenger car (passenger transport business on fixed routes, contracts) running on routes with a distance of more than 300 km.
Repeated offense of driving a truck (including trailers and semi-trailers) with a cargo bed size that does not match the technical specifications stated in the vehicle’s certificate of technical safety and environmental protection inspection into traffic.
Converting other types of cars into passenger cars…
As the days to the Lunar New Year are numbered, air and train tickets are also hot. By this time, almost all means of transport on peak days have been booked and seats have been locked.
Want to change ticket also no chance
This year’s Lunar New Year started early and had a long break, so these days, bus stations in Ho Chi Minh City such as Mien Dong and Mien Tay have been bustling with people from Ho Chi Minh City returning to their hometowns to celebrate Tet. Although most of the main bus routes have moved to the new Mien Dong Bus Station, the total number of passengers through the old Mien Dong Bus Station is still expected to increase compared to 2024, serving about 139,000 passengers. And at this time, buying tickets that suit your needs is very difficult.
Mr. Vu Thanh Hoan (living in Nha Be District, Ho Chi Minh City) had time to buy a bus ticket to Dak Lak last weekend, but he called all the familiar bus companies and they said they were sold out of sleeper tickets from December 23 to 29. He drove all the way to Mien Dong Bus Station to ask but there were only seat tickets left, so Mr. Hoan had to reluctantly buy a ticket for 800,000 VND. “A seat ticket is now the same price as a sleeper ticket, but what can you do? Flying at this time would cost a whole month’s salary. If I buy a ticket now, I’m glad there are still seats left,” Mr. Hoan shared.
Meanwhile, despite having waited to buy bus tickets for a month, Nguyen Thi Minh Tuyen (living in Thu Duc City, Ho Chi Minh City) still could not choose the right itinerary to return to Phu Yen to celebrate Tet with her family. Tickets for the first day of Tet were no longer available, so Tuyen had to book a sleeper ticket for a night trip for 700,000 VND, double the usual price. Notably, Tuyen bought a ticket to return to Ho Chi Minh City on the fourth day of Tet for 650,000 VND. Now that the company has decided to close for an additional day, her family wants to change to the fifth day, but no bus company has any tickets left. “Every year, the bus tickets are sold out very early, so I still buy them without a holiday schedule, and then if necessary, I can find someone to change them later. This year is really stressful. My friends waited to buy tickets for a month in advance but still had difficulty, almost everyone had to buy tickets at high prices and did not get the desired time. The journey to hunt for Tet tickets is always very difficult,” Tuyen lamented.
According to a representative of the Ho Chi Minh City Department of Transport, the number of passengers traveling during the Lunar New Year this year is expected to increase by about 6% compared to last year due to the long holiday and high air and train tickets. From December 20, the year of Giap Thin to January 10, the bus stations will serve an average of 94,000 passengers per day, an increase of 50% compared to the number of passengers on normal days. The situation of selling tickets for fixed-route buses this year has not changed much compared to previous years. Bus trips to the Central region and the Central Highlands have always recorded a very high demand, so they sell out quickly. Branded bus companies often sell out as soon as they open for sale, partly due to many regular customers, partly due to stable prices, suitable for many groups of people.
The Department of Transport also knew early that some companies would let workers go home early, and a number of workers would return home before December 20, so it proactively implemented plans to serve the needs of people during Tet. To ensure convenience for people to travel, the city’s transport sector will implement activities to connect passengers from the central area to bus stations, airports, and train stations, such as: increasing shuttle buses, coordinating train schedules of the Ben Thanh – Suoi Tien metro. At the same time, buses will be increased to meet the increased travel demand during Tet. Traffic situation will be updated between the terminals in Ho Chi Minh City and other localities, and scenarios for regulation will be prepared if congestion occurs on the route of the passenger pick-up bus.
Trains and planes are also racing to “close the books”
Crowded and bustling like bus stations, from the end of November 2024 until now, Saigon Station has been crowded with passengers every day, mainly people returning home early. There are still a few people coming to the station with the hope of getting the last tickets to return home for Tet, but most of the “hot” routes have been “closed”. For example, 10 trains running on January 25 – 29 (December 26 – New Year’s Day) on the Saigon – Hanoi route are all full . The Saigon – Tuy Hoa route has also been full since January 20. In the previous days, there were only a few trains with empty seats, the prices were quite high: The price of a soft seat ticket with air conditioning ranges from 660,000 VND to nearly 850,000 VND depending on the train brand, a 4-berth sleeper cabin costs more than 1.17 million VND. Some train brands have 6-berth sleeper cabins priced at 968,000 VND, but long-distance surcharges of up to 778,000 VND are required, totaling 1.746 million VND.
Speaking to Thanh Nien reporters , a representative of Saigon Railway Joint Stock Company said that as of January 6, the railway industry had sold over 282,000 train tickets, including tickets divided into many short routes. Compared to the same period on the opening day of Tet 2024, the number of tickets sold was 161% and the revenue was 181%. Up to now, during the peak period before Tet, there are about 9,000 train tickets from Saigon, Di An, and Bien Hoa stations to all stations. On January 20-26, there are still tickets to Nha Trang and Phan Thiet. After Tet, there are only a few tickets left for odd-numbered trains (from Hanoi to the southern region) during the peak days from January 31 to February 3; There are still many train tickets available for the remaining days from the Northern and Central stations to the South.
Compared to last year’s Tet, the total number of trains serving the 2025 Tet holiday has decreased by more than 20 trips, equivalent to a decrease of more than 30,000 seats due to not selling extra seats, and converting 11 seat cars into sleeper cars, reducing the number of trips and seats compared to last year. Notably, this year the railway industry has stopped the “buy a ticket to hold a seat and pay later” feature to avoid the situation of passengers holding a seat but late in paying. Therefore, in general, the train ticket situation will not have any unusual fluctuations such as passengers “canceling” or releasing tickets.
As for aviation, although it is close to Tet, airlines are still making efforts to charter aircraft and increase capacity. According to Vietnam Airlines (VNA), up to this point, the number of seats VNA provides to the peak Tet market in 2025 has increased by nearly 8% compared to the same period in 2024. The number of actual passengers purchasing tickets has also increased compared to last year. The occupancy rate for many peak afternoon flights, some good daytime flights are fully booked. To best meet people’s travel needs, VNA is coordinating the use of aircraft to operate in the late evening and early morning to take advantage of slots at airports, optimize aircraft flight times; at the same time, speed up wet leasing and receive aircraft early.
“Initially, VNA planned to wet lease 2 aircraft, but due to increased passenger demand, the airline decided to increase and lease 1 more aircraft, bringing the total to 3. The wet lease includes foreign flight crew and flight attendants. It is expected that the first 2 wet leased aircraft serving the peak Tet holiday will arrive in Vietnam on January 10, the third aircraft will arrive on January 13. As soon as the aircraft are received, VNA will work urgently with the authorities to put them into operation soon. The three wet leased aircraft will contribute about 75,000 seats, equivalent to more than 400 flights,” added a VNA representative.
The Henley Passport Index has just released a list of the world’s most powerful passports in 2025, with number 1 belonging to a country in Southeast Asia.
Specifically, Singapore passport holders enjoy visa-free access to 195 out of 227 destinations worldwide, more than citizens of any other place on the planet, topping the list this year.
Singapore passport has been ranked number 1 globally for many years. PHOTO: GUIDE CONSULTANTS
In Southeast Asia, apart from Singapore in the number 1 position, the remaining countries are as follows: Vietnam ranked 91st with 51 visa-free destinations; Malaysia (respectively 12 – 183); Brunei (20 – 166); Thailand (61 – 82); Indonesia (66 – 76); Philippines (75 – 67); Cambodia (89 – 53); Laos (93 – 49)… In addition, China ranked 60th.
Returning to the top 10, Japan ranks second in the rankings, with access to 193 destinations, thanks to regaining visa-free access to China for the first time since the Covid-19 lockdown.
EU member states France, Germany, Italy and Spain are in third place, along with Finland and South Korea, with visa-free access to 192 destinations.
The fourth place in the ranking is a testament to the strength of the borderless Schengen area, which guarantees freedom of movement for more than 425 million EU citizens as Austrians, Danes, Irish, Luxembourg, the Netherlands, Norwegians and Swedes enjoy visa-free access to 191 destinations.
Ranking in fifth place are five countries, including Belgium, New Zealand, Portugal, Switzerland and the UK, all of which offer visa-free access to 190 destinations.
The rest of the top 10 is dominated by European countries, with a few exceptions. Australia and Greece are tied at number 6, while Malta, Poland and Canada are in seventh place.
8th place is shared by the Czech Republic and Hungary; the US and Estonia are in 9th place; 10th place is held by Latvia, Lithuania, Slovenia and the United Arab Emirates.
This is the 20th year of the index, created by London-based global citizenship and residence advisory firm Henley & Partners, which tracks global freedoms in 227 countries and territories around the world, using proprietary data from the International Air Transport Association (IATA).
At the other end of the rankings, in 106th place, Afghanistan remains at the bottom of the list, with visa-free access to just 26 destinations, two fewer than a year ago. Syria is in 105th place (with 27 destinations) and Iraq is in 104th place (with 31 destinations).
While season 2 of the series ‘Squid Games’ is gaining huge viewership on Netflix, the producers have teased a new killer robot doll in season 3.
The Squid Game season 2 is currently streaming on Netflix and has achieved a “huge” number of views within just the first few days of its release. According to Deadline , with 7 episodes currently airing, The Squid Game season 2 has reached a total of 68 million views in just the first 3 days (from December 26, 2024), beating the previous “record” of the Wednesday series of 50.1 million views. Netflix said that this is the non-English language series with the highest number of views in 92 countries and territories in the first weekend of its release.
With its current viewership, Squid Game season 2 is currently one of the most-watched non-English language series of all time (it hasn’t made the top 10 yet, but season 1 is number one with 265.2 million total views), according to Forbes.
In season 2, the main character Seong Gi Hun, played by actor Lee Jung Jae, returns to the death arena to overthrow the organization behind it that he learned about in the first season. Season 2 continues to receive praise from film critics and the general audience on Rotten Tomatoes with a score of 82% (certified “fresh”).
Recently, on the social networking platform X (formerly known as Twitter), Netflix posted a teaser for season 3 of this survival series, which had previously announced to the international media that a new season was in the works. In the teaser, the filmmakers introduced a new killing robot in the form of a boy named Chul Su. The publisher wrote on X: “Everyone says hello to Chul Su”.
The previous model of the little girl doll was Younghee, a giant machine with a “search and destroy” function, surprising hundreds of players in the deadly arena with its head that can rotate 360 degrees. In the newly released teaser, the little girl doll Younghee once again appears in the arena of the game Red Light, Green Light, with her back to the player. Opposite the Younghee doll is Chul Su. Season 3 is currently in production and will air in 2025.
Aviation analytics firm Cirium has compiled an annual ranking of the airlines and airports with the best on-time records.
Cirium’s data is broken down by region and the size of the airport or airline (based on the number of passengers served in a typical year).
All three of this year’s most punctual airlines are members of the SkyTeam alliance: Aeromexico, Saudia and Delta Air Lines. Aeromexico and Delta are both founding members of the alliance, having been part of the alliance since SkyTeam’s inception in 2000.
The nose of an Aeromexico plane is decorated with Mexican folklore motifs. PHOTO: SIMPLE FLYING
Saudia, the national airline of Saudi Arabia, is a newer member of the group. However, the airline has big ambitions for growth over the next decade. By 2024, Saudia has placed orders for 105 Airbus aircraft, nearly doubling its capacity.
Japan’s two largest airlines took the top two spots for punctuality in the Asia-Pacific region : Japan Air Lines (JAL) came in first and All Nippon Airways (ANA) came in second. The two were separated by just four-tenths of a percentage point.
Singapore Airlines is third in the region. It has won the World’s Best Airline award from Skytrax five times – considered the “Oscars of the aviation industry”. Air New Zealand is fourth and Thai AirAsia is fifth.
Safair, a South African-based low-cost airline, has been named the most punctual airline in the MENA (Middle East and Africa) region, followed by Oman Air and Royal Jordanian.
In Europe, Madrid-based Iberia came in second place, while its low-cost subsidiary Iberia Express came in first.
And for North America, Delta takes the top spot, followed by United and Alaska, both US.
In addition to ranking individual airlines, Cirium also analyzes data on punctual airports around the world.
Riyadh King Khalid International Airport (RUH) in Doha took home the top honors in the large airport category as well as the overall title. Second and third place in the overall category went to Lima Jorge Chávez International Airport (LIM) in Peru and Benito Juarez International Airport (MEX) in Mexico.
While Cirium’s statistics are impressive, many of the causes of delays aren’t the fault of individual airlines or airports. Weather can play a huge role, and higher temperatures due to climate change are likely to make things more difficult in the coming years, according to CNN.
The world’s most punctual airlines:
1. Aeromexico
2. Saudia
3. Delta Air Lines
4. LATAM Airlines
5. Qatar Airways
6. Azul Airlines
7. Avianca
8. Iberia
9. Scandinavian Airlines (SAS)
10. United Airlines
The most punctual airports in the world:
1. Riyadh King Khalid International Airport (RUH)
2. Lima Jorge Chávez International Airport (LIM)
3. Mexico City Benito Juárez International Airport (MEX)
4. Salt Lake City International Airport (SLC)
5. Santiago Arturo Merino Benítez International Airport (SCL)
6. Minneapolis-Saint Paul International Airport (MSP)
7. Washington Dulles International Airport (IAD)
8. Detroit Metropolitan Wayne County Airport (DTW)
