NHA TRANG, Vietnam – Vietnamese police successfully tracked down and deported a high-profile international fugitive, ending a multi-year global manhunt in the popular coastal city of Nha Trang.
On October 30, the Khánh Hòa Provincial Police confirmed the expulsion of Omokeev Ulukbek, a 47-year-old citizen of the Kyrgyz Republic, who was the subject of an Interpol Red Notice since 2021 for his alleged involvement in drug trafficking and transportation offenses stretching to Germany.
The arrest provides a strong message to the international community that Vietnam is actively cooperating on global security and ensuring that its visa systems are not exploited by transnational criminals. For expatriates and tourists, the swift action reinforces the commitment of local authorities to maintaining a safe environment.
The Hide-and-Seek Strategy
Ulukbek’s strategy was to leverage the ease of international travel to evade authorities. He utilized the common fugitive tactic of hiding in plain sight, blending in as an ordinary international tourist.
Key to his evasion was a pattern of constantly changing his passport number relative to the one cited in the Interpol Red Notice, and consistently moving across multiple countries before settling in Khánh Hòa, Vietnam, earlier this year.
Omokeev Ulukbek @ Local police office
In June, the Khánh Hòa Provincial Police’s Immigration Management Division identified Ulukbek residing in an apartment in the Bắc Nha Trang ward after noticing suspicious activity.
Upon administrative inspection, police discovered that Ulukbek had used an e-visa (electronic visa) to enter the country by allegedly providing false information in his application.
Police immediately issued an administrative violation decision for the misrepresentation and applied the penalty of deportation. Ulukbek was expelled from Vietnam on Thursday.
Vietnam’s Security Commitment
The successful operation highlights the increasing sophistication and diligence of Vietnamese authorities in cross-referencing global security data. The nation’s focus on maintaining stability and security is a key component of its attractiveness to foreign investment and tourism.
For the international business community and expatriate residents, this swift action serves as a reassurance that Vietnam is serious about upholding the rule of law and preventing its territory from being used as a safe haven for international fugitives.
FTSE Russell has formally promoted Vietnam’s market status, confirming a ‘spectacular change’ driven by reforms. The move is set to unlock billions in passive investment capital from global funds.
HANOI – Vietnam has officially secured an upgrade from Frontier to Secondary Emerging Market status by FTSE Russell, a landmark decision that validates the country’s decades-long commitment to institutional and financial reform. The upgrade, slated to take effect in September 2026, is poised to funnel billions of dollars of passive investment capital into Vietnamese equities.
Speaking at the “Emerging Vietnam: Beyond the Upgrade” event, Wanming Du, FTSE Russell’s Director of Asia-Pacific Policy, stated that no other country in the past decade can compare to Vietnam’s “speed and scale of reform.”
“The upgrade of Vietnam is a spectacular change. We’ve seen deep reforms, along with outstanding resilience and adaptability,” Du noted, highlighting the government’s commitment despite the complexity of the changes required by international standards.
The Immediate Investment Impact
For international investors, the upgrade is more than just a badge of honor—it’s a massive shift in investability.
Unlocking Passive Funds: The move means Vietnam will be included in major Emerging Market (EM) indexes, making it a mandatory destination for EM-focused mutual funds and ETFs, which manage trillions globally.
Capital Targets: The State Securities Commission (SSC) expects the status change to significantly boost foreign capital inflows. Total foreign investment into Vietnam reached approximately $50 billion in 2024, double the previous year, and officials predict the upgrade will dramatically accelerate this trend.
A Maturing Market: Vice Chairman of the SSC, Bui Hoang Hai, stressed that the market’s steady growth—evidenced by the rising number of Vietnamese billion-dollar market capitalization companies—is a strong foundation for the new status.
Beyond Capital: Transparency and ESG
The benefits extend far beyond short-term capital inflows, according to Vietnamese officials. The transition to Emerging Market standards mandates higher levels of corporate governance, transparency, and reporting efficiency.
The upgrade will force local firms to align with international best practices, improving ESG (Environmental, Social, and Governance) standards and bolstering compliance culture. This strengthens the long-term competitiveness and resilience of Vietnamese companies.
Increased transparency and efficiency are expected to fuel more sophisticated Mergers & Acquisitions (M&A) activity and allow companies to raise capital more effectively from global markets.
The Macro Backdrop: A Global Outlier
The market success comes against a robust and stable macroeconomic backdrop. While the global economy navigates risks from inflation and trade, Vietnam remains a bright spot in Southeast Asia.
Strong GDP Growth: The economy has shown impressive stability, with GDP growing 7.85% in the first nine months of the year, driven by strong growth in consumption and exports.
Geopolitical Win: The recent signing of a balanced trade agreement with the U.S. on October 26th—reducing tariffs on select Vietnamese exports—underscored Vietnam’s successful independent foreign policy and reinforced its status as a reliable international partner.
Future Outlook: These factors underpin an optimistic outlook, with GDP growth projected to reach 8.1%−8.5%in 2025, paving the way for sustained expansion through 2030.
Six Strategic Priorities
To cement the new status and attract institutional funds, the SSC is focused on six key development areas, primarily aimed at removing remaining bottlenecks for foreign investors:
Legal Framework: Enhancing the regulatory framework to boost transparency and investor protection.
Barrier Removal: Addressing current market access hurdles, clarifying foreign ownership limits, and improving data exchange.
Infrastructure: Modernizing technical infrastructure to meet the scale and operational demands of large international funds.
Product Diversification: Expanding product offerings, including promoting the issuance of green bonds and sustainable bonds.
Investor Professionalism: Encouraging domestic retail investors to adopt more professional investment practices.
Oversight: Strengthening market surveillance to ensure long-term stability and fairness.
The message to the global investment community is clear: “Vietnam is committed to transparency and an equitable investment environment. We believe our stock market will become an attractive destination for international capital,” stated SSC Vice Chairman Hai.
The move to Vietnam’s main HoSE exchange follows a massive—and painful—supply chain transformation, positioning the FMCG giant for its next growth phase.
HANOI — Masan Consumer (UPCoM: MCH), the $6 billion company behind Vietnam’s most iconic kitchen staples like Chin-su chili sauce and Omachi instant noodles, has confirmed plans to upgrade its stock listing in a move aimed squarely at Vietnam’s blue-chip elite.
The company will move from the junior UPCoM market to the main Ho Chi Minh Stock Exchange (HoSE), a move executives say will pave the way for its inclusion in the prestigious VN30 Index, Vietnam’s equivalent of the S&P 500.
The listing, slated for late 2025 or the first half of 2026, is designed to “unlock value” by attracting a new wave of international and institutional investors. Moving to HoSE significantly enhances corporate transparency, boosts stock liquidity, and could trigger a major re-valuation of one of Southeast Asia’s largest consumer packaged goods (FMCG) companies.
This strategic move is not just a technical upgrade. It comes just as Masan emerges from a deliberate, company-wide restructuring of its vast, traditional distribution network.
Recent financial reports showed a short-term hit to revenue (down 3.1% in 9 months) and profit (down 16.1%). However, executives explain this was an intentional consequence of its “Retail Supreme” project—a strategic pivot to bypass traditional wholesalers and build a direct-to-retail (DTR) relationship with hundreds of thousands of “mom-and-pop” shops across the country.
Tearing Up the Traditional Playbook
The HoSE listing was deliberately timed to follow this complex operational overhaul.
“We wanted Masan Consumer to get through the supply chain volatility and achieve a solid footing… to maximize value for investors,” said Danny Le, CEO of parent company Masan Group (HoSE: MSN), in a previous investor meeting.
That footing now appears secure. The “Retail Supreme” project was a massive undertaking to modernize a distribution system that had long relied on a network of independent wholesalers. The new model involved:
Re-training staff as “sales representatives” for specific territories.
Deploying new management software with AI-powered order suggestions.
Enabling direct digital connections between sales reps and retail points.
The results are already clear: Masan’s direct retail coverage has surged by 40% to 345,000 storefronts. Crucially, the company has cut its reliance on lower-margin wholesalers from 60% of its sales down to just 30%.
The Rebound: Why the Dip Was ‘Temporary’
While the transition forced a temporary sales dip as distributors cleared old inventory, Masan’s leadership is confident the worst is over.
“This decline is temporary,” said Masan Consumer CFO Huynh Viet Thang, explaining the company was optimizing inventory levels across its new system.
He noted that the new model is already proving its efficiency. In areas that transitioned early, it took 6-9 months for sales to recover. In the most recent phases, that recovery time has been cut in half to just 3 months.
This rapid optimization is the basis for the company’s forecast of a strong return to growth in the fourth quarter of 2025.
The Path to the VN30
Masan Consumer’s stock (MCH) has traded on the UPCoM, a market for unlisted public companies, since 2017. A successful move to HoSE would instantly make it one of the exchange’s most valuable listings.
“Masan Consumer’s capitalization post-listing will likely be very high and qualify for the VN30 basket,” said Masan Group Deputy CEO Michael Hung Nguyen.
For investors, this is the key event. Inclusion in the VN30 would automatically trigger buying from domestic and international index-tracking funds, creating new demand for the stock and cementing its status as a core holding for anyone looking to invest in Vietnam’s dynamic consumer story.
Hotel searches in Hanoi have skyrocketed by more than 250% following news that K-pop superstar G-Dragon will hold a concert in the Vietnamese capital this November, highlighting how music tourism is driving travel demand across the country.
Data from Booking.com shows a dramatic spike in accommodation searches for the dates November 6 – 9, coinciding with G-Dragon’s concert schedule. The surge underscores how live entertainment is becoming a powerful travel motivator for Vietnamese and regional fans alike.
“Music and travel have a unique power to connect people and inspire personalized journeys,” said Branavan Aruljothi, Country Director of Booking.com Vietnam. “Young Vietnamese travelers are increasingly willing to spend more for emotional, once-in-a-lifetime experiences.”
Music tourism heats up Hanoi
Fans from both northern and southern Vietnam are preparing to fly to Hanoi for the long-awaited event. Hotels around My Dinh National Stadium, where the concert is expected to take place, are already reporting near-sold-out rooms — reminiscent of the frenzy seen during BLACKPINK’s 2023 Hanoi shows, which drew tens of thousands of visitors.
The phenomenon signals the growing influence of music-driven tourism, as fans turn major concerts into full travel experiences including shopping, dining, and local exploration.
Upcoming events amplify demand
Adding to the excitement, the upcoming Y-CONCERT in December — a 10-hour show featuring top idols and rising stars — has also boosted accommodation searches in Hanoi by more than 60% year-on-year, according to the same data.
“When the music fades, those unforgettable moments become cherished memories,” Aruljothi added. “Many travelers tend to revisit destinations that once stirred deep emotions, creating lasting bonds with those cities.”
A growing tourism trend
Vietnam’s tourism authorities have recently identified entertainment events and concerts as key catalysts for domestic and international travel. With global stars like G-Dragon performing in Hanoi, the capital is poised to become one of Asia’s emerging hubs for music tourism — a sector expected to grow rapidly in 2026.
Vietnam Airlines’ decision to weigh passengers’ carry-on luggage and charge extra fees for overweight items starting November 3 has sparked widespread debate among travelers.
According to the national flag carrier, the new policy aims to ensure safety, punctuality, and service quality. Passengers are encouraged to comply with existing cabin baggage limits to avoid additional charges.
Under the new rules, if a passenger’s carry-on exceeds the standard allowance, Vietnam Airlines will collect a fee equivalent to one piece of checked baggage. Overweight luggage up to 10 kg beyond the limit, or one extra piece (up to 10 kg), will incur the same charge as checked baggage purchased at the airport.
For bags that exceed both weight and size limits, the fee will be equivalent to that of oversized checked luggage.
Example: On domestic routes such as Ho Chi Minh City – Hanoi, one 23-kg checked bag costs approximately VND 600,000. Overweight carry-ons will now be charged the same rate at the boarding gate.
Payment can be made by credit card, debit card, or cash, depending on airport facilities.
Public reaction: divided opinions
The move has caught many passengers by surprise. Some have called it “inconvenient” and “inconsistent with the airline’s premium brand image,” while others support the policy as a necessary step to maintain flight safety and fairness.
“Airlines in Australia also weigh carry-on luggage, but the process looks more professional,” said Hồng Hạnh, a traveler from Hanoi. “They use sleek digital scales placed discreetly at check-in counters. Vietnam Airlines could adopt a similar approach and communicate the rules more clearly.”
Before Vietnam Airlines, low-cost carrier Vietjet Air had already implemented carry-on checks and gate fees. However, passengers say the experience feels different when applied by a full-service airline.
Why airlines are cracking down
Industry experts note that overhead bins have strict weight limits. Excess carry-on weight increases risks during turbulence and landing, and can delay boarding. Vietnam Airlines said the policy aligns with international safety standards and aims to improve on-time performance.
Still, the change highlights the challenge airlines face in balancing operational efficiency with customer satisfaction — especially as Vietnam’s aviation market continues to expand rapidly.
A young boy was miraculously rescued after being swept away by floodwaters in the Han River (Da Nang) late on Tuesday night. The emotional footage of his rescue has since gone viral, touching hearts nationwide.
Dramatic midnight rescue on the Han River
At around 10 p.m. on October 29, amid heavy rain and flooding, several residents on Bach Dang Street, along the western bank of the Han River, spotted something floating in the water.
“I thought it was a fisherman in trouble, but then I realized it was a child’s head bobbing in the current,” said Ho Dang Minh T., one of the rescuers. “I didn’t have time to think — we just jumped in and pulled him out.”
Within seconds, three people worked together to drag the boy to safety. Shivering and soaked, the boy was still clutching a lollipop tightly in his hand.
A bystander gave him another candy, which he quietly unwrapped and began to eat — too shocked to respond to questions from rescuers.
Social media storm and emotional twist
The video posted by Ms. Minh T. quickly went viral on Vietnamese social media, drawing both praise and criticism. Some netizens accused rescuers of being “insensitive” or “asking too many questions,” while others shared unfounded claims that the boy had been “swept from Quang Nam Province.”
However, the boy’s mother, T.H.T., later clarified the situation.
“My son is a special needs child who doesn’t speak much. He loves water and had climbed over the Dragon Bridge railing before falling into the river,” she explained. “Please don’t spread false stories — and please thank those who risked their lives to save him.”
“Please don’t judge — just be grateful,” says the mother
That night, the mother had been working at home when she heard the door open. Realizing her son was missing, she ran out into the rain searching for him for over an hour.
“When I heard he’d been saved, I broke down in tears,” she said. “I just want to thank the people who helped. They didn’t hesitate — they saved my son’s life.”
Symbol of compassion amid the floods
The image of the boy holding his lollipop has since become a symbol of innocence and hope amid Da Nang’s stormy weather.
As one local resident wrote online:
“In the middle of floods and fear, seeing people risk everything to save a child reminds us that humanity still shines brightest in the darkest storms.”
According to RMIT lecturer in Professional Communication Dr Bui Quoc Liem, Vietnam needs a national campaign to turn communication into a shield against cyber crime, helping citizens identify, respond to, and protect themselves in the digital space.
For years, cyber security communications in Vietnam have been mostly confined to warnings and recommendations. Messages like “Beware of scammers”, “Don’t click on strange links”, or “Don’t share personal information” are widespread, but still insufficient to build a habit of digital self-defence in society.
Cyber security experts have argued that communication should not be one-way propaganda but a proactive crime prevention tool. Instead of merely informing, a well-designed campaign must guide action. Every citizen should be trained to recognise and respond to scam scenarios like a true “digital gatekeeper”.
Global lessons: From “Stop. Think. Connect.” to “I can ACT”
Many countries have elevated anti-scam communications to national campaigns.
In the United States, a campaign initiated by the Department of Homeland Security has found success with a simple message: “Stop. Think. Connect.” As a result, 96 per cent of surveyed Americans felt a personal responsibility towards cyber security, while 93 per cent believed their online actions can protect not only friends and family, but also help to make the internet safer around the world.
Singapore turned to the law and technology to build an approach. The “I can ACT against scams” campaign encourages citizens to Add, Check, Tell (ADD the ScamShield app, CHECK for scam signs with official resources, and TELL the authorities, family, and friends). The government’s ScamShield app blocks scam calls and messages, while a “kill-switch” mechanism allows users to temporarily lock bank accounts when suspicious activity is detected.
Every citizen should be trained to recognise and respond to scam scenarios like a true “digital gatekeeper”. (Photo: Unsplash)
More importantly, Singapore established the Anti-Scam Command (ASCom), a rapid response centre that coordinates between the police and banks to freeze accounts within minutes. In the first half of 2025, the country reduced scam cases by 26% and the amount lost to scams by 12.6%.
Australia chose early education with its “CyberSmart” program, integrating digital safety into schools as a life skill. Children are taught to identify fake news, protect data, and stay calm when facing online risks. The government even created an independent agency, the eSafety Commissioner, to handle harmful content and coordinate nationwide digital literacy education.
Can Vietnam launch a similar campaign?
The answer is yes, and it must be done urgently.
Having caused estimated losses of VND18.9 trillion in 2024, online scams are no longer just a cyber security issue but a socio-economic security concern. A national campaign (possibly named “Stop Scams – An toàn số cho mọi người”) would not only warn citizens but also drive action to build real defences.
A public-private alliance would be the optimal model, where the Ministry of Public Security (Department of Cyber Security and High-Tech Crime Prevention) is responsible for expertise and crime scenarios, while banks, telecom companies, and social media platforms serve as the “digital frontlines”.
Similar to Singapore’s ASCom, Vietnam can build its own “Anti-Scam Vietnam Command,” a rapid response centre between the public security authorities and banks to freeze suspicious transactions within minutes instead of days.
Multi-layered communication: Media – Influencers – Digital platforms
An effective anti-scam campaign must “speak with many voices”.
Mainstream media is the official and verified source of information from the public security authorities, helping citizens identify fake news and official channels. Influencers act as “emotional amplifiers”, delivering digital safety messages to youths in relatable, everyday language.
An effective anti-scam campaign must “speak with many voices”. (Photo: Freepik)
Finally, social media platforms like Zalo, TikTok, Facebook, Instagram, and Threads must act as co-combatants – not only removing scam content but also proactively warning users through pop-ups, automated messages, or alert hashtags (like #StopScams).
A “scam scenario bank” can be created for influencers, journalists, and businesses to use when producing warning content, ensuring consistency and accuracy.
“Slowly but surely” – A localised action framework
The message “Slowly but surely” (CHẬM MÀ CHẮC) could become the behavioural core of the “Stop Scams” campaign, serving as a localised version of Singapore’s ACT (Add – Check – Tell) framework. Instead of stopping at warnings, “Slowly but surely” aims to build specific action reflexes for citizens in the digital environment.
The proposed three steps are: Add technical shields by installing apps that block scam calls and messages (like a potential ScamShield Vietnam app); check information carefully via official hotlines, avoiding hasty money transfers; report to the police, banks, or through a national app when signs of scams are detected.
This is not just a slogan but an action framework tied to real tools, from protection apps and warning chatbots to instant account freezing mechanisms.
From communication to national policy
To be sustainable, “Stop Scams” must be institutionalised as part of the National Strategy on Digital Economy and Digital Society Development with a vision to 2030, not just a short-term movement.
A legal framework for rapid response is needed, allowing banks and authorities to freeze accounts in emergencies. Vietnam should also consider establishing a national digital safety agency similar to Australia’s eSafety Commissioner, responsible for managing harmful content, scams, and public digital literacy education.
Ultimately, the root solution is nationwide digital literacy education, especially for the elderly and students, who are the most vulnerable groups. When citizens understand that cyber security is a personal responsibility, not just a government task, a true community shield will emerge.
Not just a campaign, but a national commitment
“Stop Scams” must be more than a slogan. It should be a national commitment to protect citizens in the digital space.
When a single scam message can cause billions of VND in losses, and victims lose not only money but also trust in digital transformation, communication cannot stand aside. It must become the first line of defence, where every article, video, and alert helps prevent potential incidents.
A “Stop Scams” campaign, led by the government and supported by businesses, the media, and the community, is the necessary step to make Vietnam a safe, human-centric, and resilient digital nation in the new era.
Story: Dr Bui Quoc Liem, Lecturer in Professional Communication, RMIT University Vietnam
One trend that has seen growth in recent years is the rise of music tourism with a growing number of Vietnamese travellers prioritising travel anchored by cultural and significant events, including live music festivals and concerts. This exciting fusion of travel and passion for music is experiencing a growth in interest among Vietnamese travellers who are increasingly seeking experiences that resonate with their passions.
When the music scene sets the itinerary
In the past two years, Vietnam’s entertainment landscape has seen several large-scale concerts, from international icons like BLACKPINK and G-Dragon to popular homegrown concert series like Anh Trai Vuot Ngan Chong Gai and Anh Trai Say Hi, sparking a nationwide concert craze. These concerts, together with new-generation music festivals like Genfest or Nhung Thanh Pho Mo Mang have captured the hearts of young audiences, turning live performances into defining cultural moments. As music becomes a new kind of gathering place for communities, a fresh travel trend is taking shape: Vietnamese fans are travelling for experiences specifically to attend concerts.
Recent Booking.com data reveals how the journey often starts with the event, not the destination:
Following the announcement of G-Dragon’s concert in Hanoi, accommodation searches* for the city during the concert period (November 6-9) spiked by over 250% as compared to the same time last year.
When the lineup for Y-CONCERT in Hanoi was revealed, searches for stays** during December 19–20 event days rose by 60% year-on-year.
The trend extends internationally; when BLACKPINK tickets went on sale in Singapore, searches for accommodation*** during their concert dates (November 28-30) surged by 115%.
The new triggers behind travel decisions
Music connects people across boundaries and inspires journeys of those that are deeply immersed in it.
According to Booking.com’s Travel Trends 2025, 68% of Vietnamese travellers draw inspiration from social media, while 33% are influenced by TV shows or movies, showing how cultural content now directly shapes travel intent. Pop culture, once a source of entertainment, is now a powerful spark for travel inspiration. What people watch, listen to, and share online quickly translates into a desire to experience those emotions in real life.
That emotional spark has found its clearest expression in concert travel. 62% of Vietnamese travellers said they took a trip in 2024 to attend an event such as a concert and 38% considered live music and festivals an important factor when choosing a destination.
For many young travellers, attending a concert isn’t just about seeing an artist perform; it’s about being part of something collective and fleeting – an energy that exists only in that moment. It represents an emotional loop of discovery, starting with excitement and ending with stories taken home.
When the music fades, the memories travel on
The rise of music-led travel offers a unique opportunity for host cities. Major cities like Hanoi, Ho Chi Minh City and Da Nang, which are now frequent hosts of large-scale performances, can leverage these events to showcase their most vibrant sides to travellers. A concert night in Hanoi can easily lead to an extended stay exploring its creative districts and iconic cafés. Every performance serves as a new entry point to experience a city’s vibrant identity.
“The rise of music tourism is more than a travel trend, it’s a reflection of a cultural movement. Music and travel share the power to connect people and inspire emotion. Vietnamese travellers are increasingly personalising their journeys, with 45% willing to spend more on activities and 48% on accommodation to elevate their experiences. This shows a generation that views travel as a form of self-expression, a way to celebrate creativity and individuality. At Booking.com our mission is to make it easier for everyone to explore the world and connect with these experiences and local culture.” said Branavan Aruljothi, Country Head, Vietnam at Booking.com.
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CONTACT DETAILS
For further information, contact the Booking.com Vietnam Press Office:
Huong.bui@edelman.com /+84 965642514
Thuong.duong@edelman.com / +84 902 975 662
My.banh@edelman.com / +84 933588711
METHODOLOGY
* This looks at search sessions between 12/9/2025 and 18/10/2025 with check-in dates between 6/11/2025 and 9/11/2025.
** This looks at search sessions between 10/10/2025 and 14/10/2025 with check-in dates between 19/12/2025 and 20/12/2025.
*** This looks at search sessions between 25/9/2025 and 30/9/2025 with check-in dates between 28/11/2025 and 30/11/2025.
Travel Trends 2025 research commissioned by Booking.com and independently conducted among a sample of adults who took a leisure trip with an overnight stay in the last 12 months, plan to travel in 2025 and are involved in trip planning. The sample comprises 32,300 respondents across 32 markets surveyed in January or February 2025. (2,000 from USA, 800 from Canada, 1,800 from Mexico, 800 from Colombia, 1,800 from Brazil, 800 from Argentina, 1,800 from Australia, 500 from New Zealand, 800 from Spain, 800 from Italy, 1,800 from France, 1,800 from UK, 1,800 from Germany, 800 from Netherlands, 500 from Denmark, 500 from Sweden, 400 from Croatia, 800 from Switzerland, 800 from Belgium, 800 from Ireland, 800 from Portugal, 1,800 from India, 800 from China, 500 from Hong Kong, 800 from Thailand, 800 from Singapore, 500 from Taiwan, 800 from Vietnam, 800 from South Korea, 1,800 from Japan, 500 from UAE).
Part of Booking Holdings Inc. (NASDAQ: BKNG), Booking.com’s mission is to make it easier for everyone to experience the world. By investing in the technology that helps take the friction out of travel, Booking.com’s marketplace seamlessly connects millions of travellers with memorable experiences every day. For more information, follow @bookingcom on social media or visit @globalnews.booking.com.
Vietnam Insider – A fire erupted late Tuesday in a technical room at the Lê Thành apartment complex in Ho Chi Minh City’s Bình Tân District, leading to chaos and trapping three residents in a powerless elevator.
Eyewitness reports suggest that essential fire alarm and sprinkler systems failed to activate, immediately raising serious questions about building safety and fire protocols for the thousands of residents and international occupants of similar high-rises across the city.
The Incident: Explosive Fire in HCMC Residential Block
The incident occurred at approximately 7:00 PM on Tuesday, October 29, in Block B2 of the Lê Thành apartment building, located on An Dương Vương Street.
Residents heard a small explosion before flames and thick black smoke erupted from the electrical technical room on the 9th floor.
The smoke quickly engulfed the hallways, spreading rapidly to adjacent Block B1 and forcing hundreds of residents to evacuate via stairwells.
One resident, Mr. Tam Nguyên, recounted being trapped in a completely dark, airless elevator at the 12th floor with his 64-year-old mother and another man after the power immediately cut out. “It was pitch black and stiflingly hot; I was terrified,” Mr. Nguyên stated.
After contacting management via phone, the three trapped individuals were rescued approximately 15 minutes later by building staff, who manually opened the doors and directed them to the roof for safety.
The Critical Allegation of Safety Failure
While the fire was contained within about 10 minutes by on-site personnel using fire extinguishers, followed by the rapid response of six fire trucks and 37 firefighters, the most alarming takeaway for international tenants and property owners is the alleged failure of the complex’s safety infrastructure.
Mr. Nguyên reported that both the fire alarm system and the automatic sprinkler system did not activate when the fire broke out, amplifying the panic among residents.
Following the near-miss, residents are demanding that the building management and local authorities conduct an immediate and thorough inspection of the entire fire prevention and fighting system.
Investor & Expat Concern: A Widespread Issue?
The Lê Thành complex is a massive residential site, consisting of four blocks and 930 apartments. The management board suspects the fire was caused by an electrical short circuit on the 9th floor, which subsequently spread to the technical rooms on the 10th and 11th floors.
For business leaders and expatriates considering long-term leases or property investments in Vietnam, this event underscores a crucial, often-overlooked factor: the reliability of fire safety infrastructure in high-density urban housing. Failure of fire prevention and fighting systems is not an isolated issue and represents a significant safety risk that international residents must consider when choosing accommodation in fast-growing Vietnamese cities.
As the U.S. Federal Reserve signals the start of a global easing cycle, Vietnam’s markets stand to benefit through stronger currency stability, lower domestic rates, and renewed foreign investment inflows.
HANOI — The Federal Reserve’s latest interest rate cut is rippling through emerging markets — and Vietnam is among the biggest potential beneficiaries. Analysts say the move could ease pressure on the Vietnamese đồng (VND), lower domestic borrowing costs, and attract fresh foreign investment into one of Asia’s fastest-growing economies.
Last week, the Fed reduced its benchmark rate for the second consecutive meeting to 3.75%–4%, while announcing an end to its balance sheet tightening program (quantitative tightening). The policy shift weakened the U.S. dollar and triggered a reassessment of global capital flows — a development that many economists say could give Vietnam valuable breathing room.
Easing Pressure on USD/VND Exchange Rate
The most immediate impact is likely on the USD/VND exchange rate, which has faced persistent pressure in recent months due to trade deficits and capital outflows.
“Fed’s rate cut helps reduce the strength of the U.S. dollar, which in turn eases stress on the Vietnamese đồng,” said Dr. Trần Hoàng Ngân, a leading economist and member of the National Financial and Monetary Policy Advisory Council. “This supports macroeconomic stability and creates room for lower domestic interest rates in the near term.”
According to Maybank’s latest forecast, the USD/VND exchange rate is expected to stabilize toward the end of the year as global monetary conditions loosen further. This comes at a crucial time: Vietnam faces potential U.S. tariffs of up to 25% on certain exports in 2025, heightening the importance of maintaining foreign currency reserves and trade surpluses.
The State Bank of Vietnam (SBV) is likely to benefit from improved foreign exchange supply thanks to steady inflows of foreign direct investment (FDI) and remittances, both of which tend to strengthen when the U.S. dollar weakens.
Lower Interest Rates, Stronger Growth Outlook
The Fed’s pivot also opens a “window of opportunity” for the SBV to further reduce domestic interest rates. Analysts expect two rate cuts of 25 basis points each in 2025, providing relief to businesses and consumers after a period of tight credit conditions.
“Lowering the interest rate differential between the VND and USD will reduce exchange rate pressure and lower the cost of foreign-currency borrowing,” noted Dr. Nguyễn Trí Hiếu, a veteran banking expert. Foreign currency loans currently account for 6.4% of Vietnam’s total outstanding credit.
Cheaper borrowing costs could stimulate investment and consumption, supporting Vietnam’s GDP growth target of 8% next year while keeping inflation below 5%. The OECD also expects lower global rates to boost U.S. import demand, a boon for Vietnam’s export-driven economy — exports to the U.S. rose 25.4% year-on-year in the first eight months of 2024.
Boost to Capital Markets and Investor Confidence
Perhaps the most visible effect will be in Vietnam’s stock and bond markets, which have already shown early signs of renewed foreign investor appetite.
“Fed’s rate cut signals the start of a global easing cycle, which is positive for emerging markets like Vietnam,” said Nguyễn Quang Huy, former head of the State Securities Commission’s Market Development Department. “It could accelerate Vietnam’s potential upgrade to emerging market status by FTSE Russell, enhancing global investor visibility.”
Foreign funds have already begun to return to Vietnamese equities, with net inflows resuming since September 2024 after several quarters of outflows. The VN-Index, currently trading at an attractive valuation relative to regional peers, could see further upside if the trend continues.
Meanwhile, lower global yields may also encourage foreign bond investors to seek higher returns in Vietnam, where government bonds still offer comparatively attractive yields and currency stability.
Outlook: Vietnam Well-Positioned Amid Global Easing
With the U.S. entering a new phase of monetary easing, Vietnam’s policy flexibility improves significantly. The combination of a weaker USD, lower interest rates, and stronger FDI inflows creates a supportive backdrop for the country’s macroeconomic resilience.
For international investors, the message is clear: Vietnam stands out as one of Asia’s most promising beneficiaries of the Fed’s pivot — combining currency stability, growth momentum, and an increasingly sophisticated capital market.
Key Takeaways for Investors:
USD/VND Stability: Pressure on the Vietnamese đồng likely to ease through year-end.
Rate Cuts Ahead: SBV expected to follow with two 25 bps cuts in 2025.
Equity Upside: Renewed FII inflows could drive VN-Index and accelerate FTSE Russell upgrade.
Macro Outlook: GDP target 8%, inflation below 5%, strong export rebound led by U.S. demand.
Vietnam is poised to be one of the biggest emerging-market winners from the Fed’s rate cuts — a compelling mix of macro stability, growth potential, and renewed foreign investor optimism.
Vietnam Insider – Saigon Beer-Alcohol-Beverage Corporation (Sabeco, ticker: SAB), the country’s largest brewer, posted its highest quarterly profit in over three years (Q3 2025) by aggressively cutting costs and leveraging lower commodity prices, effectively offsetting a major drop in beer sales volume due to Vietnam’s strict zero-tolerance drunk driving laws.
The Earnings Paradox: Record Profit on Falling Revenue
Vietnam’s consumer sector is grappling with the intense enforcement of a strict zero-alcohol driving decree. This regulation has severely impacted beer consumption, causing Sabeco’s third-quarter revenue to fall 16% year-on-year to approximately $263.8 million USD.
However, Sabeco achieved a remarkable financial feat. Its net profit after tax soared 21% to nearly $57.54 million USD—the highest quarterly profit for the company in more than three years.
How did the beer giant accomplish this? A massive reduction in the cost of goods sold (COGS).
Cost of Goods Sold (COGS) fell 25% year-on-year, thanks primarily to falling global prices for key raw materials like malt barley and more efficient usage across its operations.
This cost control improved the Gross Profit Margin to 37.1%.
Furthermore, Sabeco booked significant one-off gains, including a reversal of long-term financial investment provisions and profit from a business combination (acquiring Bia Bình Tây as a subsidiary).
Long-Term Headwinds: The Market Reality
Despite the strong quarterly performance, the cumulative results for the first nine months of 2025 reflect the severe market pressure:
Metric
9-Month 2025 Figure (Approx.)
Change YTD
Reason
Revenue
$780.8 million USD
-17%
Steep decline in sales volume and market competition.
Profit After Tax
$141.56 million USD
-1%
Cost-cutting measures largely offset the revenue loss.
Sabeco’s management has confirmed that lower production volume, intense market competition, and the direct impact of the zero-tolerance alcohol law are the primary challenges.
The Industry Outlook: A Bearish Forecast
Market analysts are bracing for a prolonged downturn in beer consumption. Viet Dragon Securities Corporation (VDSC) forecasts that total beer revenue for Sabeco in 2025 could drop by 9.3% to $1.043 billion USD.
Zero-Tolerance Law: The strict enforcement of the law has created a “shock to consumption,” with total industry volume expected to decline by about 3% in 2025 alone.
Market Share Erosion: Sabeco’s market share is expected to hold steady at roughly 33.9% in 2025 but face gradual pressure from competing international and local brands, potentially dipping toward 33% by 2029.
Sabeco’s Strategy: Prioritizing Margin Over Volume
Facing slow consumer demand and stricter regulations, the ThaiBev-controlled brewer is shifting focus from aggressive volume growth to cost management and profit protection.
The key driver moving forward will be lower raw material costs. Analysts expect Sabeco to fully utilize the cheaper inventory purchased after the 2023-2024 raw material price spike. This gives the company the necessary buffer to control costs and potentially increase promotional spending to defend its market share.
Full-Year Target Check: Sabeco’s 2025 plan aims for $1.297 billion USD in revenue and $198.16 million USD in profit. After nine months, the company has completed over 71.4% of its profit target, suggesting that its focus on cost management is highly effective in achieving its bottom-line goals despite the tough revenue environment.
Vietnam Insider – While the VN-Index has surged, a selective analysis by VinaCapital suggests a significant portion of the market remains deeply undervalued, offering international investors a compelling entry point into fundamentally sound companies before a predicted “normalization” cycle.
The Story So Far: A Market Driven by a Few Giants
At a recent investor conference on October 28, VinaCapital, one of Vietnam’s leading fund management companies, delivered an intriguing analysis of the country’s surging stock market.
While the benchmark VN-Index has delivered a robust 32.9% year-to-date (YTD) gain, the picture changes dramatically upon closer inspection. According to Nguyen Hoai Thu, VinaCapital’s Deputy CEO, excluding a handful of major stocks—specifically the Vingroup conglomerate and Gelex—the market’s increase shrinks to just 13.4%.
This disparity highlights a crucial point for global investors: the overall index is being heavily skewed by a few high-flyers, masking significant value elsewhere.
Where the Money Has Gone (and Where it Hasn’t)
The Real Estate sector has been the undeniable star, rocketing by an astonishing 162.5% YTD. This performance is far ahead of profit forecasts; real estate share prices have risen 2.8 times faster than their projected full-year earnings growth. Other outperforming sectors include Industrials and Securities.
However, the analysis revealed a curious disconnect in several other high-potential sectors:
Sector
Projected Full-Year Profit Growth
YTD Stock Price Performance
Implication
Technology
+18.1%
-24.3% (Decline)
Deeply undervalued relative to earnings potential.
Essential Consumer Goods
+42.3% (Second only to Real Estate)
+4.9% (Minimal Gain)
Strongest earnings growth, but stock price has barely moved.
“Many fundamentally sound stocks have simply not kept pace with the broader market’s growth,” commented Ms. Thu. “This divergence means there are still substantial investment opportunities for 2026.”
VinaCapital’s Playbook: How to Spot the Hidden Gems
For international investors focused on long-term value, VinaCapital is zeroing in on sectors that meet two stringent metrics: PEG (Price/Earnings to Growth) and ROE (Return on Equity).
PEG Ratio (Price/Earnings to Growth): This metric refines the standard P/E ratio by factoring in a company’s projected earnings growth (G). A lower PEG ratio (ideally around 1x or less) signals that a stock may be undervalued by the market relative to its growth prospects.
ROE (Return on Equity): A core profitability measure, this indicates how efficiently a company is generating profit from its shareholder equity. VinaCapital targets sectors with an ROE above 15%.
Based on these criteria, VinaCapital identifies the following five sectors as having the most attractive valuations right now: Materials, Banking, Consumer Goods, Healthcare, and Technology
The Three Most Attractive Sectors for Global Investors
VinaCapital’s research highlights specific catalysts for several key sectors:
Consumer Goods: The recovery of domestic consumption is a powerful engine for economic growth. Retail stocks are expected to benefit significantly, particularly those successfully gaining market share.
Banking: The sector is poised for a strong outlook, driven by projected credit growth of 19-20% and the easing of credit limits (‘credit room’). Additionally, the revival of the property market and accelerated public investment will support asset quality, especially for well-managed, large banks with high capital adequacy ratios (CAR).
Infrastructure/Materials: The Vietnamese government’s aggressive push for major public investment projects is a massive economic stimulus. Companies involved in construction and materials are direct beneficiaries of this policy, guaranteeing robust demand.
The Critical Caution: FX and Interest Rate Risk
While bullish on long-term value, VinaCapital advises investors to closely monitor two crucial risks:
Exchange Rate (USD/VND): The Vietnamese Dong has been under pressure, with the USD/VND exchange rate increasing significantly, signaling potential volatility.
Interest Rates: Following a period of low rates, the mounting pressure from the rising exchange rate may force the central bank to adjust interest rates upward in the near future.
The stock market is highly sensitive to these two factors. VinaCapital’s long-term advice remains unchanged: focus on a long-term strategy, select stocks based on strong fundamentals, and prioritize attractive valuations.
HỒNG KÔNG –Spec FX, nhà cung cấp công nghệ tài chính và giao dịch tiên tiến vừa công bố giành được một khoản đầu tư chiến lược đáng kể từ James E. Thompson III – một nhà đầu tư toàn cầu giàu kinh nghiệm trong các lĩnh vực logistics, năng lượng tái tạo và công nghệ. Khoản đầu tư này sẽ tạo đà để Spec FX đẩy nhanh quá trình mở rộng khắp các thị trường khu vực Châu Á – Thái Bình Dương và tăng cường nền tảng giao dịch dựa trên trí tuệ nhân tạo (AI) của công ty.
Quan hệ hợp tác này sẽ góp phần thúc đẩy Spec FX tăng trưởng quốc tế mạnh mẽ với trọng tâm trước mắt là mở rộng sự hiện diện của công ty tại các thị trường châu Á trọng điểm, nơi nhu cầu đối với các giải pháp giao dịch bán lẻ tiêu chuẩn tổ chức đang tiếp tục tăng mạnh.
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Spec FX đã nhanh chóng tạo dựng được sức hút trong giới chuyên gia giao dịch nhờ hệ thống tiên tiến, điều kiện giao dịch cạnh tranh và hệ sinh thái minh bạch. Nền tảng này kết hợp các công cụ dựa trên AI với những giải pháp giao dịch tinh vi, đồng thời chú trọng công tác đào tạo và nâng cao năng lực cho khách hàng.
Chiến lược mở rộng trước mắt của công ty bao gồm nhiều sáng kiến trọng điểm nhằm thúc đẩy tăng trưởng và đổi mới. Chiến lược này tập trung vào việc xin cấp phép hoạt động và thiết lập sự hiện diện tại các thị trường khu vực Châu Á – Thái Bình Dương trọng yếu để mở rộng phạm vi địa lý. Đồng thời, công ty cũng đang phát triển thêm các tính năng trí tuệ nhân tạo của nền tảng, đặc biệt trong lĩnh vực quản lý rủi ro và chiến lược giao dịch tự động nhằm nâng cao toàn diện năng lực hệ thống.
Để hỗ trợ tăng trưởng quốc tế bền vững, công ty đang xây dựng nền tảng công nghệ và vận hành vững chắc thông qua việc mở rộng hạ tầng. Ngoài ra, Spec FX còn phát triển thế hệ công cụ giao dịch mới, được thiết kế riêng cho nhóm chuyên gia giao dịch hiện đại am hiểu công nghệ, trong khuôn khổ sáng kiến đổi mới sản phẩm của mình.
“Lĩnh vực giao dịch dựa trên AI đang trải qua một bước chuyển mình quan trọng”, James E. Thompson III nhận định. “Spec FX đã xây dựng được một nền tảng chạm đúng nhu cầu của các chuyên gia giao dịch thông minh, hiện đại – những người đề cao tính minh bạch, tốc độ và ưu thế công nghệ. Trọng tâm của chúng tôi sẽ là mở rộng sự hiện diện của Spec FX trên khắp khu vực Châu Á – Thái Bình Dương, nơi đang chứng kiến nhu cầu tăng trưởng mạnh mẽ. Chúng tôi đang phân bổ nguồn lực để tăng cường năng lực AI của nền tảng, đồng thời tiến hành xin cấp phép hoạt động tại các thị trường trọng điểm”.
Thompson đóng góp hàng chục năm kinh nghiệm điều hành trong việc xây dựng và mở rộng các doanh nghiệp quốc tế. Trong hơn hai thập kỷ qua, ông đã giám sát việc phát triển hơn 30 cơ sở logistics hiện đại tại Mỹ, châu Âu và châu Á thông qua các tập đoàn tư nhân của mình hoạt động tại Nhật Bản, châu Âu và Úc. Danh mục đầu tư của ông trải rộng trên các lĩnh vực logistics, năng lượng tái tạo và công nghệ. Khoản đầu tư này đánh dấu một bước ngoặt quan trọng khi Spec FX bước vào giai đoạn tăng trưởng tiếp theo với nguồn lực và định hướng chiến lược được củng cố nhằm hiện thực hóa khát vọng toàn cầu của công ty.
“Chúng tôi cam kết phát triển Spec FX thành một đơn vị dẫn đầu thực thụ trên quy mô toàn cầu”, ông Thompson nhận định thêm. “Giai đoạn đầu tiên của chúng tôi sẽ tập trung vào việc củng cố nền tảng của công ty – xây dựng một cấu trúc hỗ trợ tăng trưởng nhanh và bền vững trên nhiều châu lục”.
Với mối quan hệ hợp tác chiến lược này, Spec FX đặt mục tiêu thiết lập một tiêu chuẩn mới trong lĩnh vực công nghệ tài chính, xây dựng một nền tảng mạnh mẽ, có khả năng mở rộng, đáp ứng nhu cầu đang ngày một tăng cao của các chuyên gia giao dịch hiện đại trên toàn cầu.
Giới thiệu về Spec FX
Spec FX là nền tảng công nghệ tài chính được các chuyên gia giao dịch nhìn nhận nhờ công nghệ tiên tiến, điều kiện giao dịch cạnh tranh và hệ sinh thái minh bạch. Với các công cụ vận hành dựa trên AI, giải pháp giao dịch tinh vi và trọng tâm đào tạo cũng như nâng cao năng lực người dùng, Spec FX đang xây dựng một nền tảng toàn diện hướng tới tương lai của thị trường tài chính.
Police in An Bien Commune, An Giang Province, are investigating a woman accused of physically abusing a 6-year-old girl under her care after the child’s father stopped sending payment for babysitting services.
A video circulated online on October 27 showed a woman grabbing the girl’s hair, shouting, and repeatedly hitting her head and face, sparking public outrage on Vietnamese social media.
Following the viral footage, An Bien police quickly identified the suspect as V.T.V., who lives in Binh An Commune, An Giang.
During questioning, V. admitted to the violent behavior seen in the clip. She told investigators that the girl’s father, who works far from home, had entrusted his daughter to her care, paying her in installments of around VND 15 million (US$600) every 3–4 months.
However, according to V., she lost contact with the father since October 2024, and the payments stopped. Frustrated over the situation, she claimed she “lost control” and assaulted the child.
A medical examination found the girl had visible injuries to her face, elbows, and knees. Local authorities have since taken measures to ensure her safety and provide psychological support.
Police said they are continuing to investigate the motive and level of violence to determine appropriate legal charges against V.
Child abuse cases in Vietnam often draw widespread attention online, with authorities urging the public to report any signs of violence against minors immediately.
Thailand’s Football Association (FAT) has issued an apology after mistakenly showing China’s flag instead of Vietnam’s during the AFF U19 Futsal Championship 2025 group draw, held on October 28 in Bangkok.
The mistake appeared in a 10-minute livestream organized by FAT and was later deleted from all social media platforms.
The Vietnam Football Federation (VFF) has filed an urgent letter of protest to both the ASEAN Football Federation (AFF) and FAT, demanding clarification and preventive measures.
“VFF strongly objects to and requests a full explanation of the incorrect display of Vietnam’s national flag during the official draw ceremony,” the federation said in a statement. “This serious incident could harm Vietnam’s image and negatively affect the unity of the ASEAN community.”
Later the same day, both AFF and FAT issued formal apologies to Vietnam. FAT President Nualphan Lamsam (Madam Pang) acknowledged the mistake and took full responsibility:
“This error does not reflect the respect and appreciation FAT holds for all member associations and their national symbols. We reaffirm our strong commitment to professionalism and respect in all AFF-hosted events,” she said.
The AFF U19 Futsal Championship 2025 will take place from December 23 to 29 in Nonthaburi, Thailand. Vietnam is placed in Group A alongside Thailand and Brunei, while Group B includes Indonesia, Myanmar, Malaysia, and Cambodia. The top two teams from each group will advance to the semifinals.
AFF will also host the U16 Futsal Championship, featuring Thailand, Indonesia, Vietnam, Myanmar, and Brunei. Both tournaments mark the first-ever youth futsal competitions organized by AFF, following the suspension of the AFC U20 Futsal Championship since 2020 due to the pandemic.
Vietnam’s U16 and U19 futsal teams are expected to begin training on November 16 in Ho Chi Minh City.
This is not the first time a flag mix-up has sparked controversy at major Southeast Asian events.
At the SEA Games 32 opening ceremony in Cambodia (2024), Indonesian fans protested when performers held the national flag upside down, making it appear as Poland’s.
A similar mistake occurred at the 2017 SEA Games in Malaysia, when Indonesia’s flag was printed upside down in an official booklet.
Even at the Paris 2024 Olympics, organizers mistakenly played the wrong national anthem for South Sudan and showed the wrong flag for Argentina.
