Vietnam Funds Struggle Despite Record Market Highs

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Nearly 20 investment funds posted losses even as Vietnam’s benchmark VN-Index reached an all-time high, exposing a widening gap between headline gains and underlying market performance.

VIETNAM INSIDER – Vietnam’s stock market may be celebrating record highs, but a closer look reveals a more troubling reality for investors. While the VN-Index briefly climbed to an all-time peak of 1,933 points in May, nearly two-thirds of actively managed investment funds failed to keep pace, and 18 funds remained in negative territory after the first five months of 2026.

The divergence highlights a challenge increasingly familiar to global investors: headline index gains driven by a handful of heavyweight stocks can mask widespread weakness beneath the surface. In Vietnam’s case, the rally was heavily supported by shares linked to major property conglomerate Vingroup, while many sectors struggled to attract sustained capital inflows.

Vietnam’s benchmark index closed May at 1,863 points, up just 0.5% from April despite reaching record territory earlier in the month. The broader picture was even less impressive, with the VN30 Index—tracking the market’s largest companies—falling 1.3% during the same period. Since the start of 2026, the VN-Index has gained 4.4%, while the VN30 remains down 1.7%.

Data compiled from fund reports shows that only three of 30 actively managed funds outperformed the benchmark during the first five months of the year. VNDAF led the field with a 9.3% return, followed by TVGF3 at 4.8% and TVGF4 at 4.7%. Meanwhile, only 12 funds delivered positive returns, while 18 posted losses—an increase from just 11 loss-making funds a month earlier.

The performance gap underscores the growing difficulty of active management in highly concentrated markets. Several funds managed by Dragon Capital ranked among the weakest performers despite holding significant positions in index-leading stocks. DCDS and DCDE both maintained exposure to Vingroup-related names such as VIC and VHM, yet still recorded losses of 6.5% and 6.1%, respectively, after broader portfolio holdings struggled. Retail giant Mobile World Investment Corporation, one of their major positions, fell more than 9% in May, offsetting gains elsewhere.

Even the market’s best-performing fund, VNDAF, illustrates how fragile performance leadership can be. Its year-to-date return of 9.3% remains impressive, but that figure has sharply retreated from 16.5% recorded just one month earlier. Several of its largest holdings, including NVL, VCG, VCI, and HHV, came under pressure in May. Property developer NVL alone dropped roughly 26% after surging 45% in April, highlighting the volatility that continues to define Vietnam’s equity market.

For international investors, the lesson extends beyond Vietnam. Similar patterns have emerged in markets ranging from the United States to India, where a small group of dominant stocks has increasingly driven benchmark returns while the average stock lags behind. Such environments often reward passive index exposure while making stock selection considerably more challenging.

As Vietnam enters the second half of 2026, investors remain focused on potential market-upgrade status, resilient economic growth, and improving corporate earnings. Yet risks persist, including foreign investor outflows, global interest-rate uncertainty, and geopolitical tensions. The real story behind Vietnam’s record-breaking stock market may not be how high the index climbed—but how few investors were actually able to benefit from the ride.

Insider’s story: Why Ego Is the Fastest Way to Kill a Startup

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Dh Foods’ founder reveals how listening to criticism—not defending your ideas—can determine whether a startup joins the 5% that survive.

MARKET INSIDER – In the startup world, product quality alone is rarely enough. The difference between companies that scale and those that disappear often comes down to a founder’s ability to accept criticism. For entrepreneurs chasing growth in increasingly competitive global markets, ego can become a hidden liability—blinding them to customer needs, market shifts, and opportunities for improvement.

The lesson comes from Vietnam-based food brand Dh Foods, whose products were repeatedly criticized by buyers, distributors, and industry experts before the company found success. Rather than viewing negative feedback as an attack, founder Nguyễn Trung Dũng says those moments became some of the company’s most valuable business intelligence. In a startup ecosystem where only a small fraction of companies survive long term, the ability to listen may be one of the most underrated competitive advantages.

Over the years, Dh Foods participated in numerous international trade fairs and exhibitions, where foreign buyers from demanding markets such as Europe and the United States often provided blunt assessments of the company’s products. Those conversations revealed insights that small businesses rarely have access to. Buyers managing thousands of products could quickly identify weaknesses in packaging, product range, positioning, and consumer appeal—knowledge that often takes startups years and significant capital to discover on their own.

Some of that feedback directly reshaped the company’s strategy. Buyers pointed out that Dh Foods offered too few product variations, prompting the company to expand its portfolio of Tây Ninh-style seasoning salts. Others noted that its packaging was oversized for everyday consumers, leading to a complete redesign with smaller, more ergonomic containers. As global demand shifted toward clean-label food products, feedback about natural ingredients encouraged the company to develop a dedicated “Natural” product line, aligning with emerging consumer trends.

Yet the founder also admits that ignoring criticism came at a cost. In 2017, industry buyers warned that Dh Foods’ instant noodle cup products lacked meaningful differentiation in a market dominated by multinational giants. The company persisted despite the warnings and only discontinued the line in early 2018 after prolonged underperformance. Looking back, Dũng says acting sooner would have saved substantial resources and accelerated growth elsewhere.

That experience reinforced another principle familiar to successful companies worldwide: once the need for change becomes clear, execution speed matters. Many businesses delay strategic pivots because of sunk costs tied to packaging, inventory, or marketing materials. But in fast-moving consumer markets, hesitation can be more expensive than the write-offs themselves. By the time improvements reach the market, customers may have already switched to competitors.

The broader lesson extends far beyond Vietnam’s startup scene. Whether in Silicon Valley, Singapore, Berlin, or Ho Chi Minh City, founders often fall in love with their own products while overlooking the market signals that matter most. The companies that endure are rarely those that insist they are right—they are the ones that learn faster than everyone else. In an era where customer preferences evolve at unprecedented speed, perhaps the most valuable startup skill is not innovation, but humility.

Vietnamese Electric Taxi Firm Green SM Expands to India With Launch of Premium EV Service

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Vietnamese electric mobility company Green SM has officially entered India, launching its all electric taxi service in one of the world’s fastest growing transportation markets and marking another milestone in the international expansion of Vietnam’s emerging EV ecosystem.

The launch took place on June 5, coinciding with World Environment Day, as Green SM seeks to position itself as a provider of sustainable transportation solutions in a country that is rapidly accelerating its transition toward cleaner mobility.

India becomes the fifth market for Green SM after Vietnam, Laos, Indonesia, and the Philippines, highlighting the company’s ambitions to build a regional electric transportation network centered around vehicles manufactured by Vietnamese automaker VinFast.

The service will initially operate in the Delhi National Capital Region (Delhi NCR), one of India’s largest urban areas and a key battleground for ride hailing and mobility providers. Green SM said expansion into additional locations will follow in phases based on market demand.

Unlike traditional taxi services, the fleet will consist entirely of VinFast Limo Green vehicles, a seven seat electric model developed specifically for passenger transportation services. The vehicle forms part of VinFast’s broader strategy to expand beyond vehicle sales and establish a complete electric mobility ecosystem.

Green SM says its premium service will include complimentary drinking water, wet towels, and a range of safety features designed to enhance passenger confidence. These include the company’s Secure to Safe (S2S) system, which incorporates interior and exterior cameras, AI powered monitoring technology, and emergency support functions for both drivers and passengers.

Drivers operating on the platform have also undergone specialized training covering electric vehicle operation, road safety, and customer service standards.

Customers in India can book rides through the Green SM mobile application, contact the company’s call center, or hail vehicles directly. To attract early adopters, the company is offering promotional discounts of up to 50 percent on app based bookings during the launch period.

The launch event brought together representatives from Green SM, VinFast, Indian government agencies, and diplomatic missions, underscoring the growing economic ties between Vietnam and India, particularly in the green technology and sustainable transportation sectors.

Green SM also announced the addition of five strategic partners from the transportation, tourism, technology, and services industries to its Green Alliance Frontier initiative, a platform designed to connect businesses committed to sustainability and environmental responsibility.

India represents one of the most significant opportunities for electric mobility companies globally. With severe urban air pollution challenges, supportive government policies, and a rapidly expanding middle class, the country has become a major target market for EV manufacturers and mobility operators seeking long term growth.

For Green SM, the move signals more than a geographic expansion. It reflects the growing international ambitions of Vietnamese companies looking to compete in global green technology sectors. As VinFast continues expanding its presence in overseas markets, Green SM’s launch in India provides another test of whether Vietnam’s electric mobility model can gain traction beyond Southeast Asia.

Founded in 2023, Green SM has quickly become one of Vietnam’s most recognizable electric transportation brands. Its entry into India marks the company’s largest international expansion to date and places it in direct competition within one of the world’s most dynamic mobility markets.

18 Foreign Nationals Test Positive for Drugs in Ho Chi Minh City Raid Linked to Suspected Scam Network

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Vietnamese police have detained dozens of foreign nationals after uncovering what authorities believe may be a sophisticated criminal operation involving drug use and suspected online fraud activities in Ho Chi Minh City.

The investigation began after local residents reported unusual activity at a lodging facility in Thu Duc, a rapidly developing district on the eastern side of Vietnam’s largest city. According to police, a group of foreign nationals had rented rooms for extended periods while maintaining an unusually low profile, rarely interacting with outsiders and typically leaving the premises only at night.

Acting on the reports, authorities carried out a late night raid on June 3, discovering five Malaysian nationals inside the property. During the search, officers allegedly found suspected narcotics, drug paraphernalia, and evidence suggesting illegal drug use.

The operation quickly expanded as investigators uncovered signs that the group’s activities may have extended beyond narcotics offenses.

Inside the premises, police reportedly found equipment resembling a small scale online call center, including computers, networking devices, and materials believed to be connected to telecommunications scams. Authorities also seized fake documents and props designed to imitate foreign law enforcement agencies, along with prepared call scripts allegedly used to contact potential victims.

Investigators said they discovered signage, backdrops, and other materials resembling police offices in Malaysia, raising suspicions that the group may have been involved in impersonation scams targeting individuals overseas.

Police also found discarded electronic equipment in nearby areas, which investigators believe may have been abandoned in an attempt to destroy evidence.

Further searches conducted the same night led authorities to another hotel and business location on a nearby street, where 21 additional Malaysian nationals were located.

According to preliminary testing results, 18 individuals among those detained tested positive for illegal drugs.

Authorities are now interviewing those involved and working to determine each person’s role within the suspected operation. Investigators are particularly focused on identifying any organizers or ringleaders who may have coordinated activities across multiple locations.

While the investigation remains ongoing, the case highlights growing concerns across Southeast Asia over transnational cybercrime networks, many of which use temporary accommodation, online communication infrastructure, and international recruitment to conduct fraudulent activities across borders.

Ho Chi Minh City police said the operation forms part of a broader 45 day nationwide campaign aimed at cracking down on organized crime, drug offenses, and other serious criminal activities.

Authorities have not yet announced whether formal charges will be filed, and further details are expected as the investigation progresses.

Why a Tourist’s Outfit in Hoi An Has Vietnam Talking About Cultural Respect

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Authorities in central Vietnam are investigating an incident involving a foreign tourist whose choice of clothing in Hoi An’s UNESCO listed Ancient Town has triggered widespread debate online about cultural respect and appropriate attire at heritage sites.

The incident gained national attention after a video circulated on social media showing a foreign woman walking through Hoi An while wearing a Vietnamese áo dài in a manner many local viewers considered inappropriate.

According to local officials, authorities in Hoi An Ward, now part of Da Nang City, have launched an inquiry into the incident following strong public reaction. Officials said they are gathering information and will provide further details once the review is completed.

The video, which has been shared tens of thousands of times across Vietnamese social media platforms, shows a local woman approaching the tourist and politely explaining that her outfit was not appropriate for the cultural setting. The local resident reportedly enlisted the help of a tour guide to translate her concerns and encourage the visitor to dress more suitably while touring the historic district.

The exchange has resonated with many Vietnamese viewers, who praised the local woman’s calm and respectful approach. Rather than confronting the visitor aggressively, she sought to explain the cultural significance of the garment and why many people found the presentation inappropriate.

At the center of the controversy is the áo dài, Vietnam’s iconic national dress. Widely recognized as a symbol of Vietnamese culture and identity, the traditional outfit is typically worn with long trousers and is often associated with formal occasions, education, and cultural celebrations.

Many social media users argued that the issue was not simply about fashion but about respecting local customs while visiting one of Vietnam’s most culturally significant destinations.

The incident has also reignited a broader conversation about cultural awareness among international travelers. As Vietnam continues to attract record numbers of foreign visitors, local authorities have increasingly emphasized the importance of respecting cultural norms at historic sites, religious landmarks, and heritage destinations.

Officials in Hoi An say they regularly remind visitors about appropriate attire and behavior while exploring the Ancient Town, one of the country’s most popular tourism attractions and a UNESCO World Heritage Site.

In an unusual move, local authorities have also indicated they may formally recognize the resident who intervened, viewing her actions as a positive example of protecting and promoting Vietnamese cultural values through respectful communication rather than confrontation.

While the investigation continues, the episode has become one of Vietnam’s most widely discussed tourism related stories of the week, highlighting the delicate balance between welcoming international visitors and preserving the cultural traditions that make destinations such as Hoi An unique.

Foreign Tourist Arrested After Allegedly Attacking Truck Driver in Vietnam’s Coastal City

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Authorities in Vietnam are investigating an unusual road rage incident after a foreign national allegedly attacked a truck driver with a metal bar in broad daylight, causing damage to the vehicle and sparking widespread discussion on social media.

The incident occurred on Thursday morning in Quy Nhơn, a coastal city in central Vietnam, after a confrontation between a motorcycle rider and the driver of a tractor trailer truck escalated unexpectedly.

According to local authorities, the truck driver, identified as a 39 year old man, was traveling along Đống Đa Street at approximately 8:50 a.m. when a foreign man riding a motorcycle suddenly moved in front of the vehicle and forced it to stop.

The driver later told authorities that he initially believed the man was asking for directions and therefore pulled over. He also stated that no traffic collision had occurred between the two before the confrontation.

Video footage that quickly spread across Vietnamese social media appears to show the foreign national approaching the truck’s cabin while carrying a long metal object. The individual allegedly struck toward the driver through the cabin area, prompting the driver to retreat deeper into the vehicle to avoid being hit.

Under attack, Mr. B. moved backward to avoid being hit.

The footage also shows the suspect using the metal bar to strike the truck’s windshield, causing damage to the vehicle.

As the individual attempted to leave the scene on his motorcycle, the truck driver reportedly knocked the motorcycle over and called for assistance from nearby residents, who helped detain the man until authorities arrived.

Local officials said preliminary investigations suggest the incident may have stemmed from a dispute that arose while both parties were participating in traffic. However, police have not yet released detailed findings regarding the exact cause of the confrontation.

The case has attracted significant public attention in Vietnam after videos of the incident circulated widely online, raising concerns about aggressive behavior on the roads and the potential consequences of escalating traffic disputes.

Authorities in Quy Nhơn are continuing their investigation and have indicated that the individuals involved will be dealt with in accordance with Vietnamese law once the facts of the case have been fully established.

One of Vietnam’s Strangest Attractions Lets You Cook Food Without Fire

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Most travelers visiting Vietnam come for the food, beaches, mountains, and bustling cities. Few expect to cook an egg using nothing but geothermal energy bubbling up from deep underground.

Yet that is exactly what visitors can do at Hội Vân Hot Spring in Gia Lai Province, where naturally heated mineral water is hot enough to boil eggs in just minutes. Tucked away amid the rural landscapes of Vietnam’s Central Highlands, the site has quietly become one of the country’s most unusual travel experiences.

Located about 40 kilometers from Gia Lai’s provincial center, Hội Vân is instantly recognizable by the clouds of steam that rise continuously from its surface. While the spring lacks dramatic waterfalls or spectacular mountain scenery, it attracts visitors for something far more unexpected: the chance to witness the Earth’s natural heat at work and even use it to prepare food.

The hot spring is far from a modern tourist attraction. Historical records suggest it has been known for centuries. Vietnam’s famous Nguyễn Dynasty geographical work Đại Nam Nhất Thống Chí described a steaming hot water source in the area, where geothermal water emerged from rocky terrain before cooling and flowing into nearby streams. Later, respected scholar Quách Tấn documented the spring in his writings on Bình Định Province, describing bubbling water, rising steam, and temperatures high enough to scald skin near the center of the pool.

Remarkably, visitors today encounter much the same scene described generations ago. The spring continues to release hot mineral water year round, creating an almost surreal landscape where steam drifts across open countryside.

For many visitors, the highlight is the opportunity to cook eggs directly in the spring. Without gas, electricity, or firewood, eggs are placed in baskets or mesh bags and lowered into the hottest parts of the water. After about eight to ten minutes, they emerge perfectly soft boiled. A few minutes longer produces a firmer texture.

What makes the experience especially appealing is its simplicity. Travelers are not merely observing a natural phenomenon but actively interacting with it. The novelty of eating food cooked entirely by geothermal heat has made the activity increasingly popular among both local visitors and domestic tourists.

Many first time visitors arrive skeptical. Some assume the stories are exaggerated tourism marketing until they witness the bubbling water firsthand and retrieve freshly cooked eggs themselves. For many, the experience becomes one of the most memorable parts of their visit.

The spring has long been woven into local life. Residents recall how earlier generations would collect hot water from the site, particularly during colder months when home water heating systems were uncommon. The spring’s temperature remains remarkably consistent throughout the year, with steam becoming even more visible during hot weather.

Local residents also believe the geothermal activity may be linked to ancient volcanic processes beneath the region. Although no obvious volcanic features remain today, the heat source continues to operate naturally, feeding the spring with mineral rich water from underground.

One of the site’s enduring mysteries is the presence of fish despite the high temperatures. Locals explain that the hottest water is concentrated in specific geothermal vents, while cooler streams continuously flow into the area and mix with the hot water, creating conditions where aquatic life can survive.

Like many geothermal destinations around the world, Hội Vân is also surrounded by folklore and stories of healing. Historical accounts from the French colonial period describe growing numbers of people traveling to the spring after reports that bathing in its waters helped relieve certain skin conditions. Word of these alleged benefits spread widely, drawing visitors from across the region.

Over time, local legends added further intrigue. Stories circulated of divine intervention and miraculous recoveries, transforming the spring into a destination associated not only with natural wonder but also with spiritual significance. While such claims remain part of local folklore and have not been verified by modern scientific research, they continue to contribute to the site’s enduring appeal.

Today, visitors come primarily for relaxation, curiosity, and the opportunity to experience one of Vietnam’s more unusual natural attractions. Some soak their feet in the warm water, others enjoy the peaceful rural setting, and many leave with photos of eggs cooked entirely by the Earth’s natural heat.

The growing popularity of the spring has also created new opportunities for local communities. Small businesses now sell eggs, refreshments, and local dishes to visitors, helping generate additional income while supporting tourism development in the area.

As travelers increasingly seek authentic experiences beyond Vietnam’s best known destinations, Hội Vân offers something refreshingly different. It combines geology, history, local culture, and a touch of mystery in a single destination. In a country famous for its food, there may be few culinary experiences more memorable than cooking an egg using heat that has been rising from beneath the Earth’s surface for centuries.

Vietnam Awaits MSCI Verdict as Upgrade Watchlist Decision Nears

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June 24 Review Could Mark a Turning Point for Vietnam’s Emerging Market Ambitions

MARKET INSIDER – Vietnam’s stock market is approaching a critical milestone that could reshape how global investors view one of Asia’s fastest-growing economies. In the early hours of June 24, global index provider MSCI will release its Annual Market Classification Review, with investors closely watching whether Vietnam will be added to the coveted upgrade watchlist—a key stepping stone toward emerging market status.

The decision carries implications far beyond Vietnam’s borders. Inclusion on MSCI’s watchlist would signal growing confidence in the country’s financial market reforms and could pave the way for billions of dollars in future foreign capital inflows from global funds benchmarked against MSCI indices. While no immediate reclassification would occur, the move would represent a significant endorsement of Vietnam’s long-running efforts to modernize its capital markets.

Before the classification review, MSCI is scheduled to publish its Global Market Accessibility Review on June 19, assessing how easily international investors can access and operate within various markets. However, the June 24 announcement is attracting the most attention because it directly addresses whether Vietnam is ready to enter MSCI’s formal upgrade pipeline.

Vietnam’s journey toward emerging market recognition has already gained momentum elsewhere. In 2025, FTSE Russell maintained its roadmap for upgrading Vietnam to Secondary Emerging Market status by September 2026. Yet MSCI’s standards are widely regarded as more demanding, placing greater emphasis on real-world investor experience, trading infrastructure, market accessibility, and operational efficiency.

According to SSI Research, Vietnam currently satisfies roughly 10 of MSCI’s 18 evaluation criteria. Recent reforms have improved the country’s standing, particularly through the introduction of the non-prefunding mechanism, which eliminates the requirement for foreign institutional investors to fully fund securities purchases before placing orders. The change reduces trading friction and aligns Vietnam more closely with international market practices.

Authorities have also made progress in areas such as global broker connectivity and corporate disclosure standards, both critical factors for international asset managers assessing investment destinations. These improvements have strengthened Vietnam’s case, but significant challenges remain.

One of the most closely watched reforms is the planned implementation of a Central Counterparty Clearing (CCP) system, a cornerstone of modern financial markets that reduces settlement risk by standing between buyers and sellers in securities transactions. According to Vietnam’s State Securities Commission Chairwoman Vu Thi Chan Phuong, the CCP framework is expected to become operational in the first quarter of 2027. Market participants view this reform as essential to addressing several outstanding MSCI concerns related to clearing and settlement.

Foreign ownership limits, often cited as a barrier to market accessibility, may be less problematic than commonly perceived. SSI Research notes that many large-cap Vietnamese companies still maintain available foreign ownership capacity. Nevertheless, MSCI’s assessment extends beyond ownership caps, focusing heavily on foreign exchange access, securities lending, settlement processes, and the overall ease of doing business for international investors.

Analysts believe Vietnam could secure a place on MSCI’s watchlist either in the June 2026 review cycle or by June 2027 if reforms continue to advance. While the final decision remains solely in MSCI’s hands, the upcoming review has become a high-profile test of how international institutions perceive Vietnam’s progress.

For global investors, the significance extends beyond a single announcement. An MSCI watchlist inclusion would validate years of regulatory reforms and potentially accelerate Vietnam’s integration into global capital markets. The more intriguing question is no longer whether Vietnam wants emerging market status—but whether the world’s largest institutional investors are ready to treat Vietnam as one.

World’s Most Powerful and Weakest Passports in 2026 Revealed

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VIETNAM INSIDER – The latest global passport rankings for 2026 have highlighted the vast differences in travel freedom enjoyed by citizens around the world, with Asian countries continuing to dominate the top positions while nations affected by conflict and economic instability remain at the bottom of the list.

According to the Henley Passport Index 2026, Singapore holds the title of the world’s most powerful passport, granting its citizens visa-free or visa-on-arrival access to 192 destinations worldwide. The city-state has consistently ranked among the world’s strongest passports thanks to its extensive diplomatic network and international mobility agreements.

Japan, South Korea, and the United Arab Emirates share second place, each providing access to 187 destinations without the need for a pre-arranged visa. European nations such as Norway and Switzerland follow closely with access to 185 destinations, reflecting the continued strength of passports from highly developed economies.

The rankings also underscore the growing influence of Asia in global mobility. Malaysia ranks among the world’s top passports with access to 183 destinations, placing it ahead of several Western nations, including the United States.

The United States passport ranks 15th globally, offering visa-free or visa-on-arrival access to 179 destinations. Other notable performers include Canada, New Zealand, Australia, and the United Kingdom, all of which remain among the world’s most travel-friendly passports.

At the opposite end of the spectrum, citizens of countries experiencing prolonged political instability, conflict, or economic challenges continue to face significant travel restrictions.

Afghanistan remains the world’s weakest passport, providing access to just 23 destinations. Syria, Iraq, Pakistan, Yemen, Somalia, and North Korea also rank among the least powerful passports globally, reflecting the impact of geopolitical tensions and security concerns on international mobility.

Several countries from Africa and the Middle East, including Sudan, South Sudan, Libya, Lebanon, and the Democratic Republic of Congo, are also listed among the weakest passports in the 2026 rankings.

The Henley Passport Index measures passport strength based on the number of destinations that holders can enter without obtaining a visa in advance. The ranking is widely regarded as one of the most authoritative indicators of global travel freedom and is closely watched by governments, businesses, investors, and international travelers.

Experts note that passport power has become an increasingly important factor in a globalized world, influencing tourism, business opportunities, education, migration, and international investment. Countries with stronger passports often benefit from greater diplomatic influence and stronger international relationships, while weaker passports can limit economic and social mobility for their citizens.

As international travel continues to rebound and governments expand bilateral visa agreements, passport rankings are expected to remain a key measure of global connectivity and geopolitical influence in the years ahead.

Source: Henley Passport Index 2026.

Amway Vietnam Fined Over Consumer Protection Violations

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Regulatory crackdown highlights Vietnam’s tougher consumer protection rules as authorities tighten oversight of the multi-level marketing industry.

As governments worldwide increase scrutiny of direct-selling and influencer-driven marketing practices, Vietnam has become the latest market to tighten enforcement. Amway Vietnam, one of the country’s largest multi-level marketing (MLM) companies, has been fined VND 410 million (approximately US$16,000) for violations related to consumer protection, underscoring a broader regulatory shift that could affect both domestic and foreign businesses operating in Southeast Asia.

Vietnam’s National Competition Commission, under the Ministry of Industry and Trade, announced that Amway Vietnam committed four violations during an inspection of its MLM operations and consumer protection compliance. According to regulators, the company failed to provide consumers with adequate options to control how their personal information is collected and used, included prohibited clauses in consumer contracts, did not properly disclose sponsorship arrangements involving influencers, and failed to provide complete or accurate information in remote sales transactions.

The case is particularly significant because it reflects the implementation of Vietnam’s new 2023 Consumer Protection Law, which has introduced stricter requirements for businesses operating in the country’s rapidly evolving digital and consumer economy. The inspection, conducted in May, was reportedly the first time Amway Vietnam had been evaluated under the new legal framework.

In response, Amway Vietnam acknowledged the regulatory findings and attributed the shortcomings to challenges in interpreting and implementing newly introduced rules. The company said confusion surrounding the legal classification of distributor-customers—individuals who both purchase and distribute products—contributed to gaps in its consumer protection procedures. Amway emphasized that it remains fully compliant with Vietnam’s MLM regulations and has launched a comprehensive review of its internal systems, policies, and processes to address the identified issues.

The enforcement action comes as Vietnam’s multi-level marketing industry undergoes significant consolidation. According to the Ministry of Industry and Trade, only 15 companies remained licensed to operate MLM businesses in the country as of April 2026, down from 19 in 2024. Industry revenue declined 6% year-on-year in 2025 to approximately VND 15.1 trillion (US$590 million), reflecting both increased regulatory oversight and changing consumer behavior.

Despite the sector’s contraction, major international players continue to dominate the market. Herbalife Vietnam remained the industry’s largest player in 2025 with revenue exceeding VND 8.3 trillion, followed by Amway Vietnam, Care For Vietnam, Nu Skin, and Unicity.

For international investors and multinational consumer brands, the Amway case sends a clear message: Vietnam is moving beyond simply attracting foreign investment and is increasingly focused on enforcing global-standard consumer protection practices. The question now is whether stricter oversight will further shrink the MLM sector—or ultimately strengthen consumer trust and create a more sustainable market for long-term growth.

China-Vietnam Freight Rail Reaches Dong Nai for First Time

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New rail link cuts cargo transit times nearly in half, strengthening supply chains between China and Vietnam’s manufacturing hub.

As global manufacturers rethink supply chains and Southeast Asia continues to attract investment from companies diversifying beyond China, a new cross-border rail connection between China and Vietnam has quietly marked a significant milestone. For the first time, a freight train has traveled directly from Qinghai Province in western China to Dong Nai, one of Vietnam’s most important industrial centers, creating a faster and more efficient logistics corridor between the two economies.

According to Vietnam Railways Corporation (VNR), the inaugural intermodal container train departed from Songzhai Station in Qinghai on May 27 carrying nearly 1,000 tons of PVC resin. The shipment arrived in Hanoi on June 2 and is continuing to Trang Bom Station in Dong Nai, a key manufacturing province neighboring Ho Chi Minh City.

The new route covers nearly 4,000 kilometers and reduces transit times from 12–15 days to around seven days, including customs clearance procedures. For manufacturers operating under increasingly demanding delivery schedules, cutting logistics times by almost half could provide a meaningful competitive advantage.

The train crosses the China-Vietnam border via the Pingxiang–Dong Dang railway gateway before customs processing near Hanoi. Cargo is then transferred to Vietnam Railways wagons and transported south to Dong Nai. The Chinese portion of the journey spans more than 2,100 kilometers and takes approximately four days, while the Vietnamese leg covers over 1,700 kilometers in about three days.

Vietnam Railways said the service emerged from broader bilateral cooperation discussions following Vietnamese leader To Lam’s state visit to China in April. The project also aligns with growing efforts by both governments to improve transport connectivity and facilitate trade flows between the world’s second-largest economy and one of Asia’s fastest-growing manufacturing destinations.

For international investors, the significance extends beyond a single train. Dong Nai hosts hundreds of foreign-invested factories supplying global markets in electronics, machinery, textiles, and industrial products. Faster rail freight from inland China offers manufacturers an alternative to congested maritime routes and potentially lowers logistics risks as regional supply chains become more integrated.

The route currently operates in one direction—from China to Vietnam—but VNR is working to establish two-way cargo services. The goal is to enable Vietnamese exporters to ship goods directly into China while avoiding costly empty return trips. If successful, the corridor could become a key component of a broader China–Vietnam rail logistics network connecting industrial centers across both countries.

At a time when multinational companies are balancing China-based production with expanding operations in Vietnam, the launch raises an important question: could rail—not ports—become the next major catalyst for Southeast Asia’s manufacturing and trade growth?

Tetra Pak nhận hai giải thưởng tại Vietnam I4 Impact Awards 2026

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Tetra Pak, tập đoàn hàng đầu thế giới trong lĩnh vực chế biến và đóng gói thực phẩm, vừa được vinh danh tại chương trình Biểu dương Thành tựu Tác động vì Việt Nam Số (Vietnam I4 Impact Awards) 2026 ở hai hạng mục quan trọng: “Công nghiệp thông minh” và “Đổi mới sáng tạo vì phát triển bền vững, môi trường xanh”. Sự ghi nhận này phản ánh những nỗ lực của doanh nghiệp trong việc thúc đẩy chuyển đổi số trong sản xuất, nâng cao hiệu quả sản xuất và phát triển các giải pháp bền vững hơn cho ngành thực phẩm và đồ uống.

Được khởi động tổ chức từ năm 2022, Vietnam I4 Impact Awards là sự kiện thường niên nhằm tôn vinh các doanh nghiệp, tổ chức và cá nhân tiên phong với các giải pháp công nghệ tạo ra tác động thiết thực cho nền kinh tế số và hệ sinh thái đổi mới sáng tạo tại Việt Nam. Chương trình do Liên hiệp các Hội Khoa học và Kỹ thuật Việt Nam chỉ đạo, dưới sự bảo trợ của Bộ Khoa học và Công nghệ, cùng sự phối hợp tổ chức của Viện Sáng tạo và Chuyển đổi số và Cục Chuyển đổi số quốc gia.

Mục tiêu của chương trình nhằm thúc đẩy Khoa học – Công nghệ, đổi mới sáng tạo và chuyển đổi số và tôn vinh các cá nhân, tổ chức tiên phong tạo giá trị thực tiễn cho Kinh tế – Xã hội. Điểm mới của năm nay là cách tiếp cận theo mô hình “I4” gồm Industry (Công nghiệp), Innovation (Đổi mới), Intelligence (Trí tuệ) và Impact (Tác động). Trong đó, yếu tố “Impact” được chú trọng nhất nhằm nhấn mạnh tác động tích cực của các sáng kiến và năng lực điều hành, phù hợp với định hướng của Chính phủ. 

Tại Vietnam I4 Impact Awards 2026, Tetra Pak được vinh danh ở hai hạng mục nhờ những sáng kiến nổi bật trong sản xuất thông minh và bao bì bền vững.

Ở Hạng mục “Công nghiệp thông minh” (I4 Industry Impact Award) ghi nhận các giải pháp ứng dụng công nghệ tiên tiến nhằm thúc đẩy chuyển đổi số trong sản xuất và nâng cao hiệu quả vận hành, Tetra Pak được vinh danh với giải pháp Tetra Pak® Factory OS™. Đây là hệ điều hành nhà máy thông minh giúp kết nối dữ liệu và quy trình vận hành theo thời gian thực, tăng cường khả năng truy xuất nguồn gốc và kiểm soát chất lượng xuyên suốt dây chuyền sản xuất.

Tetra Pak được vinh danh ở Hạng mục Công nghiệp thông minh với hệ điều hành nhà máy thông minh Tetra Pak® Factory OS™

Với khả năng triển khai linh hoạt, Tetra Pak® Factory OS™ hỗ trợ doanh nghiệp kết nối và tối ưu các hoạt động sản xuất, mở rộng năng lực vận hành, rút ngắn thời gian phát triển sản phẩm mới và giảm tổng chi phí sở hữu (TCO). Được xây dựng trên nền tảng sẵn sàng cho trí tuệ nhân tạo (AI-ready) cùng thiết kế bảo mật đa lớp, giải pháp cho phép chuyển đổi dữ liệu sản xuất theo thời gian thực thành các phân tích chuyên sâu, hỗ trợ doanh nghiệp ra quyết định nhanh hơn và nâng cao khả năng thích ứng trong bối cảnh thị trường liên tục thay đổi.

Trong tháng 3 vừa qua, giải pháp Tetra Pak® Factory OS™ cũng đã đạt giải Microsoft Intelligent Manufacturing Award (MIMA) 2026 (hạng mục SCALE!) nhờ khả năng thúc đẩy tăng trưởng và tối ưu chi phí trong sản xuất thực phẩm và đồ uống. Đây là giải thưởng do Microsoft và Roland Berger trao tặng nhằm vinh danh các giải pháp công nghiệp đổi mới có tác động rõ rệt thông qua ứng dụng công nghệ sản xuất thông minh.

Ở Hạng mục “Đổi mới sáng tạo vì phát triển bền vững, môi trường xanh” (I4 Green Innovation Award), Tetra Pak được vinh danh với giải pháp bao bì giấy hướng đến tính bền vững. Giải pháp này phản ánh cách tiếp cận toàn diện của công ty, từ thiết kế, lựa chọn nguyên liệu, sản xuất đến thúc đẩy thu gom và tái chế sau sử dụng.

Tetra Pak được vinh danh ở Hạng mục “Đổi mới sáng tạo vì phát triển bền vững, môi trường xanh” với giải pháp bao bì giấy sáng tạo và bền vững

Bao bì của Tetra Pak có khoảng 70% thành phần từ giấy và lên đến khoảng 90% nguyên liệu tái tạo, góp phần giảm tác động môi trường và dấu chân carbon, đồng thời vẫn duy trì tiêu chuẩn an toàn thực phẩm và hiệu suất vận hành. Song song đó, công ty hợp tác với các đối tác trong chuỗi giá trị để mở rộng mạng lưới thu gom và tái chế vỏ hộp giấy tại Việt Nam, qua đó khuyến khích cộng đồng tham gia và từng bước hình thành thói quen tiêu dùng bền vững.

Chia sẻ về cột mốc này, bà Nguyễn Thanh Giang, Tổng Giám đốc Tetra Pak Việt Nam, cho biết: “Việc được vinh danh tại Vietnam I4 Impact Awards 2026 khẳng định cam kết của Tetra Pak trong việc thúc đẩy đổi mới sáng tạo, thông qua các giải pháp sản xuất thông minh và bao bì bền vững cho ngành thực phẩm và đồ uống. Chúng tôi sẽ tiếp tục hợp tác cùng các đối tác để mang đến các giải pháp tương thích đồng bộ, giúp doanh nghiệp nâng cao hiệu quả vận hành, đảm bảo an toàn thực phẩm và hướng tới tăng trưởng bền vững.”

Bà Nguyễn Thanh Giang, Tổng Giám đốc Tetra Pak Việt Nam nhận giải tại sự kiện

Với hơn 30 năm hoạt động tại Việt Nam, Tetra Pak cam kết là đối tác lâu dài của ngành sữa trong việc nâng cao an toàn thực phẩm, chất lượng toàn diện và thúc đẩy phát triển bền vững. Thông qua đổi mới sáng tạo và hợp tác, ngành sữa Việt Nam có nhiều cơ hội tiếp tục phát triển mạnh mẽ, không chỉ về quy mô mà còn về giá trị và tính bền vững.

Switching to E10? Most Cars in Vietnam Are Already Compatible

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As Vietnam rolls out E10 gasoline nationwide, major automakers say drivers have little reason to worry. From Toyota and Hyundai to Mercedes-Benz and Volkswagen, manufacturers are confirming that most modern vehicles can safely run on the new fuel without affecting performance, reliability, or warranty coverage.

If you’ve filled up your car in Vietnam recently, you’ve probably heard more people talking about E10.

The new fuel, which contains 10% ethanol blended with 90% conventional gasoline, is gradually replacing traditional fuel options as part of Vietnam’s push to reduce emissions and improve energy security.

For many drivers, however, one question has overshadowed everything else:

Can my car actually use it?

According to a growing list of automakers, the answer is yes.

Most Modern Vehicles Are Ready

Over the past week, major manufacturers operating in Vietnam have published compatibility guidance following requests from authorities for clearer information about E10 fuel.

Toyota Vietnam says all Toyota vehicles produced since 1997 can use E10 safely. The company notes that the fuel does not affect engine durability, vehicle safety, maintenance costs, or repair requirements compared with conventional gasoline.

The reassurance isn’t limited to Toyota.

Brands including Kia Vietnam, Mazda Vietnam, Hyundai Thanh Cong, and Ford Vietnam have all confirmed that their current vehicle lineups are compatible with E10 fuel.

For Hyundai owners, the company says vehicles produced from 2005 onward can safely use the new fuel.

What About European Cars?

European brands are largely offering the same message.

Volkswagen Vietnam says E10 should not affect engine performance or long term reliability when sourced from reputable fuel stations and combined with routine maintenance.

Mercedes-Benz Vietnam has also confirmed compatibility for most of its vehicles, although some older models produced in the early 2000s and certain vehicles manufactured before 1990 may require different fuel specifications.

Drivers uncertain about compatibility are advised to check the fuel information label inside the fuel door or consult the owner’s manual.

Could E10 Actually Improve Efficiency?

One of the more surprising findings comes from previous testing conducted by Toyota Vietnam in partnership with researchers in Hanoi.

According to the company, trials on selected hybrid vehicles found that E10 delivered slightly improved fuel efficiency, higher power output, and lower emissions compared with conventional RON 95 gasoline.

While results may vary depending on vehicle type and driving conditions, the findings challenge the common assumption that ethanol blended fuels automatically reduce performance.

Why Vietnam Is Pushing E10

Vietnam’s move toward E10 is part of a broader effort to reduce emissions, strengthen energy security, and support domestic agricultural industries that supply ethanol production.

Government officials argue that wider adoption of biofuels can help lower dependence on fossil fuels while contributing to environmental goals.

At the same time, authorities have acknowledged that public communication around E10 has been inconsistent, leaving many consumers uncertain about whether their vehicles can safely use the fuel.

That uncertainty is exactly why automakers are now racing to publish compatibility lists and technical guidance.

Should Drivers Be Concerned?

For the vast majority of vehicle owners, probably not.

The consensus from manufacturers is that modern cars sold in Vietnam were designed with ethanol blended fuels in mind and can operate normally on E10 when the fuel meets quality standards.

The bigger issue isn’t whether most vehicles can use E10. It’s making sure drivers know which older models may require extra attention before making the switch.

Da Nang Police Bust Drug Ring Allegedly Targeting Foreign Tourists

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Authorities in Da Nang have dismantled a drug distribution network accused of supplying narcotics to foreign visitors, highlighting ongoing efforts to protect the city’s reputation as one of Vietnam’s fastest growing tourism destinations.

Police in the central Vietnamese city of Da Nang say they have arrested several suspects following a raid that uncovered an alleged drug trafficking operation catering primarily to foreign nationals. The investigation led to the seizure of multiple types of illegal drugs and the detention of both Vietnamese and foreign suspects.

According to investigators, the network was allegedly coordinated by a 23 year old Vietnamese woman who used social media platforms to communicate with customers and arrange transactions. Authorities believe many of the buyers were foreign tourists staying in the city.

Early Morning Raid

The arrests followed a coordinated police operation carried out in the early hours of June 1 at a hotel near the Han River area, one of Da Nang’s most popular districts for visitors.

Officers reportedly detained the main suspect while she was preparing to deliver drugs to customers. Additional searches at hotels and residential properties led to the arrest of several other individuals, including foreign nationals. Authorities also seized various narcotics and drug paraphernalia during the operation.

Several suspects later tested positive for illegal substances, according to police. The investigation remains ongoing as authorities work to determine the full scope of the network and whether additional individuals were involved.

Tourism Growth Brings New Challenges

The case comes as Da Nang continues to experience a strong rebound in international tourism.

Over the past year, the city has welcomed growing numbers of visitors from across Asia and beyond, helped by expanded flight connections, new resort developments, and major events such as the Da Nang International Fireworks Festival. The resurgence has strengthened the local economy but has also created new challenges for authorities seeking to prevent criminal activity from targeting visitors.

Local officials have repeatedly emphasized efforts to maintain Da Nang’s reputation as a safe destination for international travelers. Drug related offenses carry severe penalties under Vietnamese law, and enforcement agencies routinely conduct operations targeting trafficking networks and illegal drug use.

A Reminder for Visitors

While violent crime remains relatively rare in Vietnam compared with many regional destinations, authorities regularly warn visitors about the country’s strict drug laws.

Even small quantities of illegal substances can result in serious criminal penalties, including lengthy prison sentences. For international tourists, the latest arrests serve as a reminder that Vietnam takes narcotics offenses extremely seriously.

Police have not yet announced whether further arrests are expected, but investigators say the case remains under active investigation.

A Helmet, a Fire Extinguisher, and a Split Second Decision That Saved a Life

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As a woman lay bleeding on a street in northern Vietnam after a knife attack, passersby kept their distance. One young man didn’t. Armed with nothing more than a helmet and a fire extinguisher, he rushed toward the attacker and helped save her life.

At around 2:15 a.m. on June 2, Pham The Huy Hoang was heading home after a late night meal when he witnessed a scene most people hope never to encounter.

On a street in Hai Phong, a woman had already collapsed to the ground after being attacked. According to Hoang, the assailant continued stabbing her as she lay injured in the middle of the road.

“It happened very quickly,” he later recalled. “The woman was already on the ground, but the man kept attacking her.”

A Split Second Decision

Despite the late hour, there were still people nearby.

But the attacker was armed with a knife and behaving aggressively. Witnesses kept their distance.

Hoang initially tried to stop the assault by throwing his motorcycle helmet toward the suspect. When that failed, he sprinted to a nearby gas station, borrowed a fire extinguisher, and ran back toward the scene.

Unable to approach safely because of the knife, he repeatedly sprayed the attacker with the extinguisher. When it ran out, he threw the canister toward him.

The tactic worked.

The attacker retreated, giving the victim a chance to receive help.

The Hardest Part Came After

What happened next surprised Hoang almost as much as the attack itself.

After the suspect fled, he shouted for assistance and asked nearby people to help transport the injured woman to hospital. According to his account, nobody stepped forward.

Eventually, Hoang and a friend took the victim to hospital themselves.

Despite suffering multiple stab wounds, the woman remained conscious when she arrived for treatment. Her family arrived shortly afterward, and she was later transferred to Hanoi for further medical care.

“I Didn’t Do It for a Reward”

When the victim’s family learned who had helped save her life, they wanted to personally thank him and offer a reward.

He declined.

“I just followed my conscience,” Hoang said. “Seeing that she survived was enough for me. I didn’t do it expecting anything in return.”

It’s a simple statement, but one that resonated with many Vietnamese social media users after footage of the rescue began circulating online.

Why the Story Struck a Nerve

Acts of heroism often make headlines. What made this case different was how ordinary the circumstances seemed.

Hoang wasn’t a police officer, a security guard, or someone trained for dangerous situations. He was simply a young man heading home after a meal.

In a moment when fear could easily have justified doing nothing, he chose to act.

The incident has since sparked widespread discussion online about bystander behavior, personal responsibility, and the difficult decisions people face when witnessing violence.

While authorities continue investigating the attack, many people have focused on a different question:

What would they have done in the same situation?

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