Six fireworks locations approved, combining high- and low-altitude displays alongside large-scale countdown events across the city.
Ho Chi Minh City will ring in New Year’s Eve 2026 with an expanded fireworks program, increasing the number of launch sites to six locations, as part of a broader effort to enhance year-end festivities for residents and visitors. The displays will take place from 00:00 to 00:15 on January 1, 2026, according to the latest plan approved by the Ho Chi Minh City People’s Committee.
Under the new plan—two locations more than previously announced—the city will organize three high-altitude and three low-altitude fireworks displays, strategically spread across central and satellite areas to ease crowd pressure while maximizing public access.
The high-altitude fireworks will be launched at three major landmarks. The largest display will take place at the Saigon River tunnel entrance in An Khanh Ward, featuring 1,260 high-altitude fireworks, 60 low-altitude fireworks, and 10 pyrotechnic effects. Two additional high-altitude sites are planned at the new city center in Binh Duong Ward and Tam Thang Square in Vung Tau Ward, each hosting 500 high-altitude fireworks alongside 60 low-altitude displays.
Meanwhile, three low-altitude fireworks shows will be organized at Dam Sen Cultural Park (Binh Thoi Ward), the Saigon Marina IFC Tower (Saigon Ward), and the Kim Long villa area near Rach Dia Bridge (Nha Be Commune). Each of these locations will feature 90 low-altitude fireworks, designed for closer viewing and neighborhood-scale celebrations.
To ensure safety and smooth execution, the People’s Committee has tasked the City Command with leading coordination efforts alongside the Department of Culture and Sports and other relevant agencies. The focus will be on maintaining security, public order, and traffic safety, while creating favorable conditions for large crowds during the celebrations.
Beyond fireworks, Ho Chi Minh City will also roll out artistic light decorations along central streets and host a series of cultural and artistic programs. The city’s flagship countdown event is scheduled for the night of December 31, 2025, on Nguyen Hue Street in Saigon Ward, with plans to expand the countdown festivities to Le Loi Street and Lam Son Park, further reinforcing the downtown area as the focal point of New Year celebrations.
With the expanded fireworks network and citywide festivities, Ho Chi Minh City aims to deliver a safer, more immersive, and more evenly distributed New Year’s Eve experience—reflecting its ambition to position itself as one of Southeast Asia’s most vibrant urban destinations for major public celebrations.
Vietnam’s stock market extended its correction on the latest trading session, with the VN-Index closing down 13.05 points at around 1,729.8, as selling pressure persisted in large-cap stocks—most notably those linked to Phạm Nhật Vượng.
As many analysts had anticipated after the index failed to break above the 1,800-point threshold, market sentiment remained fragile throughout the day. During the session, the VN-Index at one point plunged to around 1,690 points, equivalent to a loss of 50–60 points. Although buying demand emerged toward the close to limit losses, the index still ended firmly in negative territory.
The primary drag once again came from the Vingroup ecosystem. Shares of Vingroup (VIC), Vinhomes (VHM), and Vinpearl (VPL) collectively shaved approximately 7.7 points off the VN-Index. Specifically, VIC fell 1.9%, VHM declined 3.76%, while VPL dropped to the floor price, marking one of the most severe moves within the group.
The sharp decline in these stocks also had a direct impact on the personal wealth of Phạm Nhật Vượng. According to Forbes data updated at 3:30 p.m., his net worth fell by an estimated USD 2.7 billion in a single session, bringing total assets to USD 27.2 billion and placing him 83rd on the global rich list.
Foreign investors added to the pressure by accelerating net selling, particularly in Vingroup-related stocks. Net foreign outflows reached more than VND 1,149 billion, with VIC seeing net sales of VND 531 billion, VHM VND 360 billion, and Vincom Retail (VRE) VND 121 billion. This sustained foreign selling further dampened market confidence.
In contrast, a small number of stocks moved against the broader downtrend. Sacombank (STB) and Hoa Phat Group (HPG) both recorded gains, offering limited support to the index and preventing a deeper close.
Looking ahead, many market observers expect downward pressure to persist in the near term as investors reassess valuations after the recent rally. Analysts are advising market participants to reduce leverage, prioritize risk management, and avoid premature bottom-fishing, instead waiting for clearer signs of price stabilization before deploying new capital.
As 2026 begins, sourcing from Vietnam should no longer be seen as a temporary solution or a short-term hedge against China-related risks. For many international buyers, Vietnam has become a long-term manufacturing base, requiring disciplined planning, realistic expectations, and clear operational strategies.
The biggest shift isn’t Vietnam’s ability to manufacture, but the expectations on buyers themselves. Factories are now more experienced and selective, logistics have normalized compared to pandemic years, and compliance requirements are more strictly enforced. Success depends less on “discovering Vietnam” and more on learning to operate effectively in a mature sourcing market.
This article is written for 2026, aiming to explain how sourcing from Vietnam really works today. A US-focused case study is included to illustrate common patterns, risks, and decision points, but it’s not a formula to copy.
Vietnam Manufacturing in 2026: Competitive but No Longer “Easy”
Vietnam’s manufacturing sector is more mature than during the early China+1 transition period. Export-oriented factories are better equipped, management teams understand international buyer expectations, and quality systems have improved significantly across furniture, textiles, home décor, and light industrial assembly.
However, maturity comes with trade-offs. Labor costs continue to rise, industrial zones are near full capacity, and well-run factories are increasingly selective about clients. Buyers with unclear specifications, inconsistent communication, or unrealistic volume expectations often struggle.
Vietnam remains particularly strong in outdoor and patio furniture, textiles, and home & garden products. In many categories, competition is now based on reliability, flexibility, and scalability, not just price.
Reference Case Study: One Example Among Many
To illustrate, consider a real-life sourcing project for outdoor furniture exported to the US in 2025–2026. This example highlights common conditions: factory selection dynamics, container-level pricing, and logistics constraints.
It is not a blueprint for success, but a reference showing how decisions around supplier validation, packaging, and freight coordination affect outcomes. Results vary depending on product category, order volume, and buyer preparation.
Finding Suppliers: Research Matters More Than Platforms
While most buyers start their sourcing journey online, experienced importers rarely rely on digital platforms alone.
Effective supplier discovery now combines desk research with in-person engagement at trade events such as the Global Sourcing Fair, Lifestyle International Fair, or specialized industry shows like the Vietnam International Trade Fair for Apparel, Textiles, and Textile Technologies (VIATT).
Trade shows remain valuable not just for sales, but also for assessing factory capabilities, understanding their client base, and connecting directly with decision-makers. As competition for production capacity grows, identifying suppliers who are truly suitable for long-term cooperation is far more important than simply finding many options.
RFQs, Samples, and Factory Audits: Risks Become Visible
The RFQ and sampling stage is often decisive. Price differences between shortlisted factories are usually small; real differentiators are communication quality, responsiveness, and ability to anticipate export-related issues.
Factory audits in 2026 focus less on certifications and more on operational realities: production flow, quality checkpoints, packaging, and shipping experience. For furniture and bulky goods, container loading and packaging can be as important as product design.
Rushing this stage often leads to problems later, when correcting mistakes becomes costly or impossible.
A sourcing agency auditing factories in Vietnam on behalf of international buyers to ensure quality and compliance.
Production Planning, MOQs, and Container Economics
Factories typically price based on container-level economics rather than individual SKUs. Minimum order quantities increasingly reflect full container utilization, tighter margins, and higher operating costs. Buyers must plan assortment, packaging, and volume together. Lead times usually range from 45–60 days, plus time for quality inspections and export prep.
Vietnam rewards scale and planning. Fragmented, low-volume “test” orders may face higher unit costs and weaker factory commitment, even when product quality is fine.
Import Costs and Logistics: More Stable, Less Room for Error
Import costs from Vietnam are more transparent than during the pandemic, but remain sensitive to freight fluctuations and destination-side charges. Product cost is usually the largest share of landed cost, followed by ocean freight and port fees.
Furniture and home goods from Vietnam benefit from relatively stable tariff treatment versus China-origin products. However, rising inland transport and warehousing costs mean final margins are shaped by post-arrival logistics decisions, not factory price alone.
For buyers, sourcing, logistics, and inventory planning must be managed as a single integrated system.
Customs are often invisible but unforgiving. In 2026, strict scrutiny on valuation, HS codes, and origin documentation makes consistency essential.
Experienced importers work with licensed customs brokers and Vietnam-side freight partners. Even minor discrepancies can trigger inspections, delays, or extra costs. Treating customs as an afterthought is a common and costly mistake.
Why First-Time Buyers Often Struggle
Many sourcing failures stem not from factory limitations, but from misaligned expectations. Factories are busy, export-driven, and selective. Buyers who approach sourcing casually, treat inquiries as price checks, or change specifications mid-process are often deprioritized. Communication slows, timelines slip, and momentum disappears.
Other challenges come from container economics. Focusing solely on unit price while ignoring packaging, SKU mix, and loading efficiency can quickly erode perceived savings. Quality issues often arise not from factory incapability, but from misaligned expectations. Sample approval alone doesn’t guarantee consistent production.
Finally, customs clearance remains a hidden risk, especially for newcomers unfamiliar with international procedures.
Final Observations
Sourcing from Vietnam in 2026 is neither experimental nor easy. Vietnam has firmly established itself as a core manufacturing hub for furniture, textiles, and home & garden products.
The market favors buyers who are prepared, clear in their communication, and have long-term intent. Success belongs to those who understand Vietnam’s maturity, respect its constraints, and develop sourcing strategies grounded in operational reality rather than outdated assumptions.
Vietnam’s stock market suffered a sharp late-session reversal on December 25, as three major stocks linked to billionaire Phạm Nhật Vượng simultaneously fell to their floor limits, wiping out a significant portion of market gains and pulling the VN-Index down nearly 40 points.
The trading day began on a strong note, with the VN-Index briefly surpassing the 1,800-point threshold. However, selling pressure intensified toward the end of the session, triggering a steep decline that pushed the benchmark index down to 1,742.85 points, firmly into negative territory.
The most striking development was the synchronized collapse of three core stocks in the Vingroup ecosystem: Vingroup (VIC), Vinhomes (VHM), and Vincom Retail (VRE). All three plunged to their floor prices, each recording more than one million shares offered for sale at the lowest allowable price with virtually no buying interest by the close. Together, these declines erased more than 21 points from the VN-Index, making them the largest negative contributors of the session.
The sell-off came amid renewed attention on Vingroup’s strategic shift. The conglomerate recently withdrew its investment registration for the North–South high-speed railway project, choosing instead to concentrate resources on infrastructure and energy projects it has been tasked to develop. These include the Olympic Sports City, the Bến Thành–Cần Giờ high-speed rail line, and the Hà Nội–Quảng Ninh high-speed railway.
Market weakness was not limited to the Vingroup group. Two other stocks that had attracted strong investor interest in recent weeks also retreated. Sacombank (STB) dropped 4.77%, while LPBank (LPB) fell 1.87%.
In contrast, several blue-chip stocks moved against the broader market trend. Vietjet Air (VJC) surged more than 6.5%, marking the strongest gain among VN30 constituents. PetroVietnam Gas (GAS) also posted a solid advance of 4.69%, supported by strength in the energy sector.
Despite the sharp index decline, foreign investors continued to act as net buyers, purchasing more than VND 606 billion worth of shares during the session. Strong foreign inflows were recorded in VHM, STB, MCH, VJC, VPL, VPB, and GAS, while net selling pressure focused on GMD, DGC, VIX, and HAG.
The abrupt reversal underscores the VN-Index’s sensitivity to large-cap stocks, particularly those within the Vingroup ecosystem. It also highlights growing investor caution as valuations rise and strategic shifts by major corporations prompt reassessments of market expectations.
Trade union backing signals strong worker support for longer break
Vietnam is moving closer to a four-day New Year’s holiday in 2026 after the country’s top labor organization voiced strong support for a nationwide workday swap, citing broad approval from workers and alignment with their well-being and productivity needs.
Speaking to local media, Vietnam General Confederation of Labor Vice President Ngo Duy Hieu confirmed that the union supports the proposal put forward by the Ministry of Interior. The plan would swap Friday, January 2, 2026 (a regular workday) with Saturday, January 10, 2026, enabling a continuous four-day break for New Year’s Day.
Following a request for consultation from the Ministry of Interior, the trade union conducted a rapid survey among union members and workers via its official fanpage. By noon on December 24, the poll had gathered 46,304 responses, with 62% of participants supporting the workday swap arrangement. Based on these results, the trade union agreed unanimously with the proposal.
According to Mr. Hieu, extending the New Year holiday reflects the common aspirations of workers. He emphasized that longer breaks allow employees to recover physically and mentally, which in turn improves morale, productivity and overall work efficiency once they return to work.
Workers operate machines at a steel mill in HCM City. Measures are being tightened in major markets for Vietnamese products such as steel. — VNA Photo
Under the proposal, public servants and state employees would enjoy four consecutive days off, from Thursday, January 1, 2026, to Sunday, January 4, 2026. This period would include New Year’s Day as a public holiday, one swapped workday, and the regular weekend.
The Ministry of Interior also encouraged employers in the private sector to adopt the same holiday arrangement where possible, while fully complying with labor laws and ensuring employee benefits. The ministry further urged businesses to negotiate arrangements that are even more favorable to workers.
If approved, the unified workday swap would mark another step in Vietnam’s gradual shift toward more worker-friendly holiday planning, balancing economic activity with the growing demand for rest, family time and quality of life.
China drives more than 60% of demand as durian-led recovery powers a historic breakthrough
Vietnam’s fruit and vegetable industry has recorded its strongest year on record, with export revenue in 2025 surpassing US$8.5 billion, marking a major milestone for the country’s agricultural sector and export economy.
According to estimates from the Vietnam Fruit and Vegetable Association, export turnover in December alone reached approximately US$795 million, pushing full-year revenue to its highest level ever. The surge reflects a sharp rebound in the second half of the year after regulatory headwinds earlier in 2025 temporarily disrupted shipments.
The growth has been driven primarily by six core products: durian, banana, mango, jackfruit, coconut, and pomelo, with durian emerging as the standout export. Demand from China—Vietnam’s largest market—has been particularly strong, cementing the fruit’s role as a strategic export commodity.
China accounted for roughly 64% of Vietnam’s total fruit and vegetable export value in 2025. In the first 11 months alone, shipments to China approached US$5 billion, up about 15% year-on-year and already exceeding the full-year record set in 2024. This recovery followed a difficult start to the year, when stricter Chinese inspections related to Yellow O dye and cadmium residues caused significant delays, especially for durian.
From June onward, exports rebounded as Vietnamese and Chinese authorities resolved technical barriers and aligned inspection standards. The momentum was further reinforced by newly signed export protocols covering bananas, coconuts, passion fruit and other produce, enabling deeper and more stable access to the Chinese market.
Beyond China, Vietnam’s fruit and vegetable exports also posted notable gains in the United States. Despite ongoing tariff pressures, export value to the US reached nearly US$500 million in the first 11 months of the year, a robust 56% increase compared to the same period in 2024. Meanwhile, exports to South Korea dipped slightly by 1.7% to US$284.2 million, while Japan, Taiwan (China) and the Netherlands each maintained annual turnover above US$100 million.
To sustain growth and meet tightening import standards, the Ministry of Agriculture and Environment has launched a pilot traceability program for durian, Vietnam’s most valuable fruit export. Running from January 1 to June 30, 2026, the initiative aims to establish a unified digital tracking system spanning production, processing, packaging, transport and distribution. Products will be tagged with QR codes or advanced electronic identifiers such as NFC and RFID, allowing real-time verification of origin, quality and food safety.
The record-breaking performance underscores Vietnam’s rising competitiveness in global agricultural trade, while also highlighting the growing importance of compliance, traceability and market diversification as the industry moves into its next phase of expansion.
(By Thu Luong) In the rapidly evolving landscape of Vietnam’s fashion retail industry, the name Nguyen Duy Minh is one that industry insiders frequently mention. His career path is neither the typical “starting from zero” story nor the fast-track journey of an industry prodigy. Instead, it is a progression built through accumulated experience, steady growth, and eventual breakthrough.
Today, as Deputy General Director of Kowil Group, he oversees a large team of hundreds of employees. Unlike many industry figures known for standout achievements in design or marketing, Nguyen Duy Minh’s influence is founded on long-term operational transformation, team development, and strategic execution. He is someone who propels brands forward—an executive whose management practices continue to shape the industry’s evolution.
His colleagues often describe him this way: “Nguyen Duy Minh is someone who advances steadily, step by step. His career has never been driven by opportunities but by his own judgment and actions.” Such evaluation reflects the years of hands-on experience he has accumulated at the front lines of the industry.
A Career Built on Practical Experience
Nguyen Duy Minh’s professional journey began in 2008 as a Business Representative at Phu Thai Group. During that period, Vietnam’s apparel market was expanding rapidly, while industry standards were still taking shape and competition was intensifying. His daily round trips between sales terminals and distribution channels gave him direct, unfiltered insight into consumer behavior, market reactions, and brand dynamics. He often says, “Real insight doesn’t come from sitting in an office—it emerges in conversations with customers.” This belief became the foundation of his management approach in years to come.
In 2009, he joined Kowil Vietnam S JSC, taking on business development responsibilities. Moving from regional fieldwork to team management, he gained extensive hands-on experience across different areas. At that time, retail operations were far from digitalized and relied heavily on human judgment and channel relationships. Through constant testing and adjustment, he and his team steadily expanded regional markets. He often describes that period as “growing from points to surfaces”—first establishing success in a small area, then replicating effective practices across wider regions.
As the sales team grew in capability, Nguyen Duy Minh’s responsibilities expanded accordingly, with him being promoted from Sales Supervisor to Sales Director. He often tells his team that his career progression was never about “changing positions” but about “expanding understanding.” Bringing frontline insight into management decisions, he ensured that the company’s growth was driven not just by numbers but by organizational capability. This mindset became crucial as he took on broader leadership roles.
Driving Growth Through Systematic Operations
In 2017, upon becoming Managing Director, Nguyen Duy Minh stepped into the center of the company’s operational transformation. At the time, the company was in a phase of rapid expansion, and its processes and systems demanded corresponding refinement. He began implementing systematic reforms, including Standard Operating Procedures (SOP), Business Intelligence (BI) analytics, and customer lifecycle-based CRM/CX tools—gradually reducing reliance on experience-based management. He believes that for long-term growth, all critical processes must be “predictable, executable, and reviewable.”
As competition intensified, Nguyen Duy Minh recognized digital capability as the core driver of future retail success. He championed the integration of online and offline channels (O2O), allowing customers to move seamlessly across touchpoints and eliminating internal silos. “Technology is not the goal—experience is,” he emphasizes. To ensure the success of digital transformation, he built cross-departmental collaboration frameworks that synchronized data, logistics, and store execution.
In parallel with internal optimization, Nguyen Duy Minh strengthened the company’s external partnerships. He led initiatives to collaborate with Aeon, Vincom, and VNPost, resulting in improved channel structure, logistics efficiency, and brand exposure. To him, collaboration is an extension of organizational capability rather than a simple exchange of resources. “The industry is a connected ecosystem—the deeper the collaboration, the more resilient the company becomes,” he explains. His approach helped the company maintain a balanced pace of expansion.
Expanding Strategic Vision Through International Collaboration
As the company grew, Nguyen Duy Minh increasingly focused on international strategic partnerships. He personally led the company’s joint venture and cooperation initiatives with Japan’s ITOCHU Corporation and Sumitomo Group, introducing global supply chain standards, management frameworks, and quality control systems. These collaborations elevated both the company’s brand development and production capabilities while giving the team deeper insight into global markets.
He often explains the purpose of these partnerships internally: “International collaboration is not to appear more global, but to acquire resources that fundamentally transform our organizational capabilities.” He believes that Vietnamese fashion enterprises can compete globally—but only if they develop management and production capabilities built to international standards. Through partnerships with global leaders, he aims to expose his team to advanced systems and accelerate their professional growth.
Despite holding a senior executive role, he maintains a habit of visiting stores every month to observe inventory, product displays, customer behavior, and employee feedback. He keeps detailed notes to remain aligned with real market conditions. “Data shows me the trend, but the field shows me the reason,” he often says. This practice keeps his strategic judgment grounded and accurate.
Practicing Long-Termism in a Rapidly Changing Market
Nguyen Duy Minh’s management style is often described as “steady and resolute.” He avoids chasing short-term trends, believing instead that a company’s real value comes from the accumulation of long-term capabilities. He focuses on processes, teams, and measurable operational outcomes—work that may not seem glamorous but provides the foundation for sustainable growth. He consistently emphasizes that a leader’s responsibility is “to ensure the team knows they won’t be abandoned when facing obstacles.” This belief has guided his leadership for years.
In an industry characterized by constant change, his strategies demonstrate resilience and a forward-looking mindset. His priority is not rapid expansion but ensuring that the organization is equipped for sustained development. “Our goal is not to go faster, but to move steadily—with every step generating real value,” he often says. This attitude has helped the company maintain clear direction and stable performance amid competitive pressures.
Looking back on his career—from frontline sales to senior executive leadership—Nguyen Duy Minh embodies a path driven by accumulated capability. He roots his leadership in real market experience, advances organizational development through systematic reform, and broadens the company’s horizons with an international perspective. His story is not merely about the rise of a brand, but about how a manager maintains direction, strengthens team capacity, and guides an enterprise toward a more mature and forward-looking future.
Trong bối cảnh ngành tiêu dùng nhanh (FMCG) Việt Nam đang chịu sức ép lớn từ chi phí đầu vào, cạnh tranh thị trường cũng như yêu cầu ngày càng cao về hiệu quả sản xuất, hoạt động M&A có xu hướng dịch chuyển từ mục tiêu mở rộng thị phần sang tái cấu trúc mô hình vận hành. Thay vì chỉ gia tăng quy mô, nhiều doanh nghiệp lựa chọn M&A như một công cụ để khai thác giá trị tiềm ẩn của những tài sản chưa được sử dụng hiệu quả. Thương vụ SABECO tiếp quản Công ty Cổ phần Tập đoàn Bia Sài Gòn Bình Tây (SABIBECO) là một trường hợp điển hình cho xu hướng này.
Bối cảnh thị trường và sự xuất hiện của các thương vụ M&A mang tính tái cấu trúc
Trong năm 2025, thị FMCG tại Việt Nam đang bước vào giai đoạn tăng trưởng chậm lại và phân hóa rõ nét hơn, đặt ra thách thức lớn đối với các mô hình kinh doanh dựa thuần vào quy mô.
Theo báo cáo Vietnam FMCG Outlook 2025 của Kantar Worldpanel, tăng trưởng giá trị tiêu dùng nhanh tại nhà đã chững lại ở cả khu vực thành thị và nông thôn, phản ánh tâm lý chi tiêu thận trọng hơn của người tiêu dùng trong bối cảnh chi phí sinh hoạt gia tăng. Điều này đồng nghĩa với việc sản lượng lớn không còn tự động chuyển hóa thành hiệu quả tài chính nếu không đi kèm năng lực kiểm soát chi phí và tối ưu vận hành.
Cùng xu hướng đó, các phân tích thị trường năm 2025 của NielsenIQ cho thấy áp lực cạnh tranh trong ngành FMCG ngày càng tập trung vào hiệu quả chuỗi cung ứng, tốc độ phản ứng thị trường và khả năng quản trị vận hành, thay vì chỉ mở rộng mạng lưới sản xuất.
Trong bối cảnh này, nhiều doanh nghiệp sở hữu hệ thống nhà máy lớn nhưng vận hành dưới công suất thiết kế, dẫn đến chi phí cao và biên lợi nhuận suy giảm. Điều này tạo ra một nhóm “tài sản trũng”, nơi giá trị không nằm ở quy mô tài sản mà ở khả năng tái tổ chức và cải thiện vận hành.
Trước khi về SABECO, SABIBECO sở hữu 6 nhà máy với tổng công suất khoảng 0,6 tỷ lít mỗi năm nhưng hiệu suất thấp. Doanh nghiệp này ghi nhận lỗ lũy kế lên đến hơn 538 tỷ đồng. Thực trạng này phản ánh những hạn chế trong mô hình quản trị và vận hành, vốn là bài toán chung của nhiều doanh nghiệp sản xuất truyền thống trong bối cảnh thị trường dịch chuyển liên tục.
SABIBECO sở hữu 6 nhà máy với tổng công suất đạt ~0,6 tỷ lít/năm
Tiếp cận M&A dựa trên tái cấu trúc, nền tảng của thương vụ được vinh danh
Nhìn sâu vào thương vụ SABIBECO, SABECO tiếp cận thương vụ này với mục tiêu nâng cao năng lực vận hành thay vì mở rộng quy mô đơn thuần. Quá trình triển khai kéo dài khoảng một năm rưỡi, bao gồm nhiều bước pháp lý và kỹ thuật phức tạp như chuyển đổi SABIBECO thành công ty đại chúng, niêm yết cổ phiếu trên UPCoM, xin phê duyệt tập trung kinh tế và thực hiện chào mua công khai theo quy định. Việc hoàn tất các thủ tục này đòi hỏi năng lực điều phối, quản trị rủi ro và tuân thủ ở mức cao, đặc biệt đối với một thương vụ liên quan đến hệ thống sản xuất quy mô lớn.
Sau khi chính thức nắm quyền chi phối, SABECO lập tức triển khai chương trình tái cấu trúc toàn diện: hợp nhất hệ thống sản xuất, phân bổ lại sản lượng, chuẩn hóa quy trình quản trị và kiểm soát chặt chẽ chi phí vận hành – tài chính. Việc tích hợp SABIBECO vào hệ thống đã giúp tổng công suất của SABECO tăng lên, đưa công ty trở thành nhà sản xuất bia có quy mô lớn nhất thị trường. Đồng thời, chi phí sản xuất bình quân được tối ưu hóa đáng kể, tạo nền tảng cho việc cải thiện biên lợi nhuận. Đồng thời, SABIBECO chuyển từ mức lỗ 76,5 tỷ đồng của cùng kỳ năm trước sang ghi nhận 108 tỷ đồng lợi nhuận trong 9 tháng đầu năm 2025.
Ông Lester Tan, Tổng Giám đốc SABECO chia sẻ “Thương vụ M&A này mang lại 2 lợi ích chính cho SABECO. Thứ nhất, gia tăng sản lượng về lon, trong khi thị trường Việt Nam ưa chuộng bia lon hơn. Hiện, SABIBECO có 6 nhà máy chiến lược mà SABECO cần, do đó đầu tư vào SABIBECO sẽ giúp gia tăng biên lợi nhuận. Thứ hai, phong phú danh mục sản phẩm. Trong đó, SABIBECO đang có thương hiệu bình dân Sagota.”
Chính năng lực quản trị thương vụ một cách bài bản, đặc biệt là việc xử lý hiệu quả và tuân thủ đầy đủ các thủ tục mua bán – sáp nhập có tính chất phức tạp là yếu tố then chốt giúp thương vụ SABECO – SABIBECO được đánh giá cao và vinh danh là “Thương vụ M&A tiêu biểu” tại Diễn đàn M&A Việt Nam 2025 do Báo Tài chính – Đầu tư tổ chức.
Nền tảng thương hiệu và tài sản vô hình trong chiến lược dài hạn
Song song với các hoạt động tái cấu trúc và tối ưu hiệu quả sản xuất, SABECO cũng chú trọng xây dựng nền tảng giá trị dài hạn thông qua thương hiệu và quản trị tài sản vô hình. Trong năm 2025, SABECO được bình chọn vào Top 10 Thương hiệu, nhãn hiệu uy tín hàng đầu Việt Nam, phản ánh mức độ nhận diện và độ tin cậy của thương hiệu trên thị trường.
Bên cạnh đó, SABECO còn được Hội Sở hữu trí tuệ Việt Nam trao tặng danh hiệu “Doanh nghiệp xuất sắc trong xây dựng và quản trị tài sản sở hữu trí tuệ”. Việc được ghi nhận ở khía cạnh này cho thấy SABECO không chỉ tập trung vào tài sản hữu hình và năng lực sản xuất, mà còn đầu tư bài bản cho hệ thống nhãn hiệu, sở hữu trí tuệ và các tài sản vô hình, một yếu tố ngày càng quan trọng trong cạnh tranh và định giá doanh nghiệp.
Ông Larry Lee, Phó Tổng giám đốc phụ trách Tài sản Chiến lược, SABECO cho biết: “Sự tham gia của SABECO giúp SABIBECO chuẩn hóa quy trình, tối ưu công suất các nhà máy và nâng cao năng lực vận hành. Kết hợp với kế hoạch tích hợp bài bản và triển khai tập trung, đây là nền tảng quan trọng để cải thiện hiệu quả tài chính sau nhiều năm hoạt động dưới tiềm năng.”
Trong bối cảnh M&A gắn liền với câu chuyện thương hiệu và giá trị dài hạn, những nền tảng này giúp doanh nghiệp nâng cao khả năng tích hợp sau sáp nhập, đồng thời tạo dư địa tăng trưởng bền vững hơn.
Đối với thị trường Việt Nam, trường hợp này gợi mở rằng các thương vụ M&A thành công trong giai đoạn tới sẽ phụ thuộc nhiều vào năng lực thực thi, nền tảng quản trị và khả năng kết hợp hài hòa giữa tài sản hữu hình và tài sản vô hình. Đây cũng là những yếu tố then chốt để M&A không chỉ dừng lại ở giao dịch tài chính mà trở thành động lực nâng cao năng suất và sức cạnh tranh của toàn ngành.
Traffic police transfer file after determining dangerous motorcycle performance may constitute public disorder offense.
Authorities in central Vietnam have escalated their response to a viral incident involving a Russian tourist who performed dangerous stunts while riding a motorcycle on public roads, transferring the case from traffic enforcement to criminal investigators for further handling.
On December 21, the Traffic Police Department under the Khanh Hoa police confirmed it had completed its initial case file and formally handed it over to the Criminal Police Division after identifying signs of the offense of disturbing public order. The decision follows an internal review that concluded the conduct went beyond administrative traffic violations.
The case emerged after multiple videos circulated widely on social media on December 18, showing a foreign woman riding a motorcycle with local license plates through several areas of Khánh Hòa Province while performing hazardous and inappropriate maneuvers. The footage sparked public outrage, with many viewers expressing concern over road safety and the risk posed to other road users.
Following verification, police identified the rider as N.I., a Russian national temporarily residing in northern Nha Trang. She was summoned to work with investigators and admitted to operating the motorcycle and lying prone across the seat while the vehicle was in motion. According to authorities, the incidents occurred on multiple occasions, including in January and June, on roads in the Cam Lâm area.
Traffic police determined that the repeated nature of the acts, their intentional execution, and the potential danger to public safety met the threshold for criminal consideration rather than simple traffic infractions. As a result, the case has been transferred to the Criminal Police Division of the Khanh Hoa police to continue proceedings in accordance with Vietnamese law.
The move signals a tougher stance by local authorities on reckless behavior by both locals and foreign visitors, particularly when actions filmed for social media threaten public order and road safety. Investigators are now assessing the full scope of the violations and potential legal consequences facing the suspect.
Export–import milestone lifts the country into the world’s top 15 trading nations, reinforcing its role in global supply chains.
Vietnam is on the cusp of a historic trade milestone, with total export–import turnover projected to exceed USD 900 billion for the first time, underscoring the country’s growing weight in global commerce despite an increasingly volatile international environment.
Speaking at the Ministry of Industry and Trade’s year-end review on December 19, Deputy Minister Phan Thị Thắng said global uncertainties continue to pose significant challenges to economic stability. Even so, Vietnam’s external trade has emerged as a standout performer, providing a critical anchor for growth.
As of December 15, Vietnam’s total trade turnover had reached USD 883.7 billion. The figure is expected to climb to around USD 920 billion by the end of 2025, officially placing Vietnam among the world’s top 15 economies by trade volume. The achievement marks a new launchpad for long-term economic expansion and deeper integration into global markets.
Exports are estimated to exceed USD 470 billion this year, up 16 percent from 2024. Vietnam has now maintained a trade surplus for ten consecutive years since 2016, helping stabilize foreign exchange inflows, ease pressure on the currency, and strengthen national reserves.
At the same time, policymakers acknowledge structural vulnerabilities beneath the headline numbers. Export growth remains heavily driven by foreign-invested enterprises, leaving Vietnam exposed to shifts in global supply chains and trade defense measures. Dependence on a small number of major markets, along with risks related to origin fraud and anti-dumping investigations, continues to weigh on the sustainability of growth. Domestic market development and e-commerce, while improving, have yet to fully realize their potential.
Vietnam’s trade expansion over the past decade and a half has been rapid and transformative. From just USD 100 billion in total trade turnover in 2009, the figure has grown ninefold in 16 years. The number of export products generating over USD 1 billion annually has risen sharply, from 10 items in 2007 to 36 today. Export destinations have also diversified, with the number of markets exceeding USD 1 billion in trade increasing from 27 in 2013 to 35 by the end of last year.
The broader industrial and commercial landscape has strengthened in tandem. Industrial production is estimated to have grown by 9.5 percent in 2025, outperforming last year’s 8.2 percent. Vietnam has signed four additional free trade agreements, bringing the total to 17 FTAs covering 65 countries and territories. The domestic market has expanded by 9–10 percent, while the e-commerce sector has surpassed USD 30 billion in value for the first time. Vietnam has also retained its position as the world’s 32nd most valuable national brand.
Addressing the conference, Prime Minister Phạm Minh Chính reiterated Vietnam’s ambition to achieve double-digit economic growth in the coming period. He called on the industry and trade sector to target growth above 10 percent by revitalizing traditional drivers such as exports and consumption while accelerating the development of new engines of growth.
The Prime Minister emphasized the importance of market diversification, urging trade missions abroad to focus on niche markets and align exports with real demand rather than domestic supply alone. He also highlighted the need to draw lessons from past loss-making projects to strengthen governance, prevent corruption and waste, and protect consumers from counterfeit goods that threaten public health.
As Vietnam approaches the USD 1 trillion trade threshold, the challenge ahead will be to convert scale into resilience—ensuring that rapid expansion is matched by diversification, value creation, and sustainable competitiveness in an increasingly fragmented global economy.
Buôn Ma Thuột, Châu Đốc and Lăng Cô emerge as quieter, more authentic alternatives to the country’s tourism hotspots.
As Vietnam’s most famous destinations grow increasingly crowded, Lonely Planet is steering travelers toward places locals themselves cherish for their calm pace, cultural depth and unspoiled landscapes. Drawing on insights from long-time Vietnam-based writers, the guide highlights Buôn Ma Thuột, Châu Đốc and Lăng Cô as standout destinations for those seeking meaningful experiences without the noise.
In Vietnam’s Central Highlands, Buôn Ma Thuột offers a sensory journey rooted in coffee culture and nature. As the heart of the country’s robusta industry, the city invites visitors into plantations, roasting houses and hands-on brewing experiences that reveal why Vietnamese coffee has gained global recognition. Beyond caffeine, the surrounding landscape surprises with dramatic waterfalls such as Dray Nur and Dray Sap, and the tranquil waters of Lak Lake, where M’Nông communities still live in traditional stilt houses. Cultural exchanges, gong performances and simple meals like Dak Lak–style grilled pork rolls complete a day that feels immersive rather than curated.
Near the Cambodian border, Châu Đốc represents the Mekong Delta at its most diverse and soulful. The town is shaped by centuries of coexistence among Kinh, Hoa, Chăm and Khmer communities, a mix reflected in its temples, mosques and markets. Known informally as Vietnam’s “kingdom of fermented fish,” Châu Đốc is a destination for adventurous eaters, with bún mắm and lẩu mắm offering intense, layered flavors found nowhere else. Nature is equally compelling, particularly the Tra Su cajuput forest, where emerald waterways and birdlife peak during and just after the rainy season. From the summit of Sam Mountain, visitors can take in sweeping views across rice fields stretching toward the border.
Between Huế and Đà Nẵng lies Lăng Cô, a coastal enclave many still consider a hidden gem. Framed by mountains and sea, the area combines quiet fishing villages, white-sand beaches and access to Bạch Mã National Park, one of central Vietnam’s richest biodiversity zones. Visitors can join local fishermen on the water, explore colonial-era ruins along forest trails, or simply enjoy fresh seafood overlooking the lagoon at sunset. Unlike nearby resort centers, Lăng Cô retains a sense of place defined by everyday village life and understated hospitality.
Together, these three destinations reflect a broader shift in travel preferences. Rather than chasing iconic landmarks, more visitors are seeking space, connection and stories that unfold slowly. Buôn Ma Thuột, Châu Đốc and Lăng Cô may lack mass tourism buzz, but that is precisely their appeal—offering a Vietnam that feels lived-in, layered and refreshingly real.
Strategic deal introduces Siemens’ Velaro Novo trains and accelerates technology transfer for Vietnam’s first modern high-speed rail lines.
Vietnam has taken a decisive step toward joining the global high-speed rail map as VinSpeed, the rail infrastructure arm of Vingroup, signed a comprehensive strategic partnership and technology transfer agreement with Siemens Mobility, one of the world’s leading rail innovators. The agreement, signed on December 17, positions Vietnam to adopt cutting-edge European rail technology while building domestic capabilities to develop, operate, and maintain high-speed rail systems to international standards.
Under the partnership, Siemens Mobility will design, supply, and integrate complete high-speed rail solutions for VinSpeed, including rolling stock, signaling, communications, and power systems. The collaboration goes beyond procurement: it establishes a framework for long-term technology transfer, joint maintenance planning, and progressive localization, enabling Vietnamese engineers and suppliers to participate deeply in future projects.
A parallel framework agreement covers train and system supply for two priority corridors: the Hanoi–Quang Ninh high-speed rail line and the Ben Thanh–Can Gio urban-coastal route. These projects are intended to serve as flagship pilots, demonstrating how modern rail can reshape regional connectivity, ease congestion, and unlock new economic zones.
At the center of the agreement is Siemens’ Velaro Novo, the company’s most advanced high-speed train platform. Designed for operating speeds of up to 350 km/h, the distributed-power EMU features a wider carbody and an optimized “empty tube” structure that increases passenger capacity by at least 10% compared with earlier generations. The design prioritizes both passenger comfort and operator economics.
Sustainability is a defining feature. Velaro Novo reduces energy consumption by roughly 30% versus older models, lowering emissions and lifecycle costs. Its superior gradient-climbing capability makes it particularly suited to Vietnam’s varied terrain—from mountainous regions to dense urban and coastal environments. The trains will be equipped with ETCS Level 2 signaling and automated train operation (ATO), enhancing safety, energy efficiency, and service frequency.
Vingroup executives framed the partnership as a cornerstone of Vietnam’s infrastructure transformation. VinSpeed’s leadership emphasized that combining Siemens’ global rail expertise with VinSpeed’s project execution capabilities and local market knowledge creates a credible pathway to deliver high-speed rail that meets international benchmarks while fostering domestic industrial development.
From Siemens’ perspective, Vietnam represents a rare opportunity to deploy a next-generation, end-to-end high-speed rail solution in a fast-growing market. Siemens Mobility’s global CEO highlighted the potential for the project to change how millions of people travel, improve quality of life, and catalyze long-term growth across tourism, industry, and advanced manufacturing.
Founded as part of Vingroup’s infrastructure pillar, VinSpeed aims to become a national champion in high-speed rail and modern transport systems. The Siemens partnership signals that ambition clearly: Vietnam is not only buying advanced trains, but laying the groundwork to master high-speed rail technology—and to do so sustainably—at a scale that could redefine mobility for decades to come.
A tragic case in Hội An has sparked outrage and a call for accountability after two foreign tourists were found dead from suspected methanol poisoning.
On December 26, 2024, Greta Otteson, a 33-year-old British national, and her fiancé Arno Quinton, 36, from South Africa, were discovered lifeless inside a locked villa in Hội An.
Cause of Death: Toxic Alcohol in Limoncello
Local police concluded that both victims died of methanol poisoning after consuming limoncello—an Italian lemon-flavored liqueur—that had been illicitly mixed with 70-degree medical alcohol (intended only for disinfection, not consumption). The concoction was reportedly prepared at a local restaurant by a bartender who added filtered water, lemon peel, and sugar.
The bartender was arrested in February 2025 and has since been prosecuted and placed in pre-trial detention.
Family’s Grief and Frustration
Greta’s parents later brought home the ashes of their daughter and her fiancé, placing them in two square urns at their family home in Wales—one adorned with a pink rabbit plush toy, the other with a blue teddy bear.
“We want to lay them to rest, but we cannot do so until there is an official conclusion,” said Paul Otteson, Greta’s father. He added that the family has received no further updates from Vietnamese authorities.
The family also expressed deep disappointment that the restaurant where the fatal drink was served remains open and has yet to issue a public apology.
A Call for Accountability
“All we want is justice. The issue is responsibility,” Mr. Otteson emphasized.
📷 Photo courtesy of the family // Quảng Nam Police
In the Otteson family home in Rhandirmwyn, Carmarthenshire, Wales, two square urns are placed by the staircase—one topped with a pink rabbit, the other with a blue teddy bear. Inside are the ashes of Greta and Arno. Arno Quinton (far left) and Greta Otteson (far right) were found dead after drinking limoncello mixed with methanol in Hội An late last year. They are pictured here with Greta’s parents (center) in November 2024.
Time Out survey of 18,000 residents highlights Vietnam’s capital as a global budget-friendly urban destination.
Hanoi has been named one of the world’s most affordable cities for food and entertainment, reinforcing its growing appeal to international travelers seeking high-value urban experiences. According to a new global ranking released by Time Out on December 12, Vietnam’s capital placed sixth among cities offering the best value for everyday leisure—from eating out to socializing—based on feedback from more than 18,000 residents across over 100 cities worldwide.
In the category of the most affordable cities to live and play, Hanoi ranked behind Medellín and Bogotá in Colombia, Beijing in China, New Orleans in the United States, and Naples in Italy. The ranking reflects perceptions of affordability for activities such as dining at restaurants, having coffee, and enjoying nightlife, rather than housing or daily groceries.
The result aligns closely with the on-the-ground experience of many international visitors. Travel bloggers and digital nomads frequently describe Hanoi as a “budget paradise,” where travelers can stretch their money without sacrificing cultural depth or quality of life. Central hostels often cost the equivalent of just a few US dollars per night, while street food meals remain among the most affordable—and celebrated—anywhere in Asia.
Long-stay travelers echo this view. Digital nomads note that a backpacker can live comfortably in Hanoi on roughly VND 600,000 (about USD 25) per day, covering accommodation in shared rooms, three street-food meals, and basic transport by foot or public transit. This combination of affordability and richness has helped position Hanoi as a leading destination for slow travel and extended stays.
At the other end of the spectrum, Seoul was ranked the world’s most expensive city for leisure activities, with only 30% of residents considering dining out affordable. Other high-cost cities included Oslo, London, and Stockholm. Interestingly, while London was rated among the most expensive for nightlife, it scored highly for affordability in arts and cultural experiences.
Time Out’s methodology focused on residents’ perceptions of how “cheap or free” and “affordable” their city’s leisure activities are, deliberately excluding housing and daily essentials to isolate the cost of urban enjoyment.
For Hanoi, the ranking reinforces a broader narrative: Vietnam’s capital is not only culturally rich and historically layered, but also one of the rare global cities where affordability and quality coexist—an increasingly powerful advantage as travelers worldwide become more value-conscious.
A Chinese national wanted on an international warrant was detained while staying at a hotel in Vietnam’s central coastal city.
Vietnamese police have arrested a Chinese man wanted internationally for organizing illegal gambling operations, underscoring growing cross-border cooperation in tackling transnational crime.
Authorities in Da Nang confirmed on December 17 that Zhang Yuan, 44, a Chinese national, was taken into custody while staying at a hotel on Le Van Duyet Street in Son Tra District. Zhang had been the subject of an international wanted notice issued by police in Changzhou City, China, for his alleged role in operating illegal casinos.
According to the Da Nang Police Department’s Criminal Investigation Division, officers identified Zhang during a routine review of accommodation facilities in the area on December 16. His behavior raised suspicion, prompting further verification. Subsequent checks confirmed that he was linked to organized gambling activities in China and was actively being sought by Chinese law enforcement.
After collecting sufficient evidence, local criminal police coordinated with Son Tra ward authorities to move in and arrest Zhang at the hotel, where he was still residing at the time.
Vietnamese police are now completing legal procedures and working closely with relevant domestic and international agencies to handle the case in accordance with the law. The arrest highlights Vietnam’s increasing role in regional law enforcement cooperation, particularly as the country continues to see high volumes of international travel and longer stays by foreign nationals.
