Leadership Shake-Up at VietCap Securities as Firm Prepares for Global Push

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Hanoi, October 31 (Vietnam Insider) — VietCap Securities (HOSE: VCI), one of Vietnam’s leading brokerage and investment banking firms, has announced a major leadership transition as long-serving CEO To Hai steps down after nearly two decades at the helm.

According to a filing with the Ho Chi Minh Stock Exchange, VietCap’s Board of Directors has approved the appointment of Ton Minh Phuong, currently Executive Director of Investment Banking, as the company’s new Chief Executive Officer and Legal Representative, effective November 18, 2025.

The change marks the end of an 18-year tenure for To Hai, who has led VietCap since its founding in 2007 and played a pivotal role in shaping the firm into one of Vietnam’s top securities houses. Under his leadership, VietCap became a key player in the country’s capital markets, known for its strong advisory expertise and robust brokerage operations.

Hai will remain on the company’s Board of Directors and continues to be one of its largest shareholders, holding nearly 129 million VCI shares, equivalent to 17.95% of total outstanding equity. His wife, Truong Nguyen Thien Kim, owns an additional 12.5 million shares, representing 1.74% of the firm’s capital. Beyond VietCap, Hai currently serves as Chairman of International Dairy Products JSC (IDP).

In other leadership changes, the Board also approved the replacement of Deputy CEO Dinh Quang Hoan with Tuan Nhan, Executive Director in charge of institutional brokerage and bond trading, effective November 3, 2025. Earlier in October, Hoan was appointed Standing Vice Chairman of VietCap’s Board for the 2021–2026 term.

The management shake-up comes just ahead of VietCap’s extraordinary shareholders’ meeting on November 7, where investors will vote on several strategic initiatives — including a private share placement and the establishment of an overseas subsidiary in Singapore.

According to the proposal, VietCap plans to invest USD 29 million to establish VietCap Singapore Pte. Ltd., which will serve as the company’s international arm, offering brokerage and investment banking services to global clients.

The firm also intends to issue up to 127.5 million new shares to professional investors at no less than VND 18,026 (USD 0.71) per share — its latest book value as of December 31, 2024. The placement, expected to raise around USD 92 million (VND 2.3 trillion), will be executed between 2025 and Q1 2026 once regulatory approval is secured. Proceeds will be used primarily to expand VietCap’s margin lending capacity (80%) and fund its proprietary trading activities(20%).

Financially, VietCap continues to post solid growth. In the first nine months of 2025, the company recorded USD 136 million (VND 3.45 trillion) in revenue, up 28% year-on-year, and USD 35.5 million (VND 899 billion) in post-tax profit, marking a 30% increase. The firm has already achieved 80% of its annual revenue target and 76% of its profit goal for the year.

The leadership transition signals a generational shift for VietCap — a move aimed at strengthening its global footprint while maintaining the strong domestic foundation built over nearly two decades of To Hai’s stewardship.

Vietnam High School Student Hospitalized After Brutal Billiards Hall Attack

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A high school boy in Nghe An Province suffered a severe brain injury after being attacked by two classmates at a local billiards club, sparking public outrage over youth violence in Vietnam.

Shocking Attack at Local Billiards Hall

Authorities in Bich Hao Commune confirmed that on the evening of October 27, a violent altercation broke out at “Billiards 98” in Giang Tien Hamlet.

According to witnesses, N.H.B.D, a 10th-grade student, was suddenly attacked by two classmates — identified as N.X.M and T.H.H, both also in Grade 10 — who allegedly used billiard cues as weapons.

The victim sustained a severe head injury and was immediately rushed to the Nghe An General Friendship Hospital for emergency surgery.

Caught on Camera

Footage from the billiards hall’s security cameras shows a group of around eight students gathered around a billiards table when the incident erupted.
One boy is seen charging at D., striking him multiple times before another student in a white shirt joined the assault.

The victim collapsed to the ground while others tried to intervene, but the attackers continued beating him with the cue sticks, causing traumatic brain injury.

Investigation Underway

Nguyen Khanh Thanh, Chairman of Bich Hao Commune, confirmed that local police are investigating the case and that the school — Dang Thai Mai High School — has reported the incident to the Department of Education and Training.

“The school has cooperated with authorities and sent teachers to visit and support the student’s family,” Thanh said.

Community Shock and Concern

Relatives of the victim shared that D. suffered a severe skull fracture and brain trauma, remaining in a coma for two days before undergoing surgery. He is now in stable condition but still under close observation.

The incident has reignited debate over school violence and mental health among Vietnamese youth, with many calling for stronger preventive measures and better conflict resolution education in schools.

Vietnam to Develop Two High-Speed Rail Lines by 2030

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Vietnam’s government has approved plans to build two high-speed railway lines, including the long-discussed North–South Express Railway and a new Hanoi–Quang Ninh route, marking a major step toward modernizing the country’s transport infrastructure.

According to a decision signed by Deputy Prime Minister Tran Hong Ha, the updated National Railway Network Master Plan for 2021–2030, with a vision to 2050, adds the 124-kilometer Hanoi–Quang Ninh high-speed line to the national strategy.

Two new-generation rail routes

The North–South high-speed railway, stretching 1,541 kilometers from Ngoc Hoi Station (Hanoi) to Thu Thiem Station (Ho Chi Minh City), remains the backbone of the national rail system.

Meanwhile, the newly approved Hanoi–Quang Ninh line will begin at Co Loa Station (linked with Hanoi’s Metro Line 4), run through Gia Binh International Airport in Bac Ninh, and terminate at Ha Long Xanh Station in Quang Ninh Province — connecting to the planned Hai Phong–Ha Long–Mong Cai railway.

Vingroup proposal and investment details

Earlier in July, Vingroup proposed building the Hanoi–Quang Ninh line as a 350 km/h high-speed rail, designed for passenger transport with a standard gauge (1,435 mm) and full electrification.

The proposed alignment would pass Co Loa – Gia Binh – Hai Phong – Yen Tu – Ha Long, requiring around 308 hectares of land and an estimated investment of US$5.4 billion (VND 133 trillion). The project is targeted for completion before 2030.

The route will include four main stations — Co Loa, Gia Binh, Yen Tu, and Ha Long — with a potential fifth stop at Yen Vien if the alternative alignment is approved.

Additional upgrades and connectivity

The revised plan also advances several previously postponed rail projects to be completed before 2030, including:

  • Hanoi–Dong Dang (Lang Son) dual-track railway (156 km)

  • Hai Phong–Ha Long–Mong Cai dual-track line (187 km)

  • Thap Cham–Da Lat and An Binh–Saigon (Hoa Hung)–Tan Kien lines

Vietnam will also upgrade seven existing national railway routes, focusing on the North–South high-speed line and connections to major international seaports in Hai Phong and Ho Chi Minh City.

In addition, new links are planned to China, Laos, and Cambodia, as well as domestic transport hubs like Nghi Son Port (Thanh Hoa), Hiep Phuoc Port (HCMC), and airports including Tan Son Nhat, Long Thanh, and the proposed second Hanoi airport in Gia Binh.

Toward a modern transport future

The government aims to transform Vietnam’s rail system into a regional transport hub, integrating high-speed, urban, and international routes to support economic growth and sustainable mobility.

Vietnam’s Next Property Hotspot? Why Investors Are Dumping Hanoi for the $180B South

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Contributed by Virtus Prosperity

After a prolonged slump, Southern Vietnam’s real estate market—centered on Ho Chi Minh City (HCMC) and its satellite provinces—is primed for a major surge, attracting capital flows redirected from the overheated Northern market.

Driven by a government mandate for GDP growth, massive public infrastructure spending, and the failure of low bank interest rates to compete with soaring inflation and gold prices, investors are pivoting to property as the primary asset for wealth preservation and growth.

For international business leaders and fund managers, the South is emerging as the country’s next high-return frontier. The key insight: Hanoi’s condominium prices surged by since early 2023, reaching unsustainable levels (nearly all units now over $2,350 per square meter), making the South, with its untapped land values and pipeline of major new infrastructure, the compelling next stop for investment capital. The coming year, 2025, is now widely viewed as the hinge point for this crucial market reversal.

Macro Forces: The Trio Pushing Money Out of Savings and Into Property

The shift in real estate capital is a direct result of three interlocking macroeconomic pressures in Vietnam:

  1. High Inflation and Currency Volatility: Vietnam’s financial market is showing clear signs of instability. Domestic gold prices have soared by approximately , reflecting a global flight to safe-haven assets amidst geopolitical uncertainty. Simultaneously, the VND/USD exchange rate has climbed nearly on the free market, signaling mounting pressure on the Vietnamese Dong.
  2. Unattractive Interest Rates: With global rate cuts looming and local 12-month deposit rates at most commercial banks holding stubbornly below per year, keeping cash in savings accounts is a guaranteed loss of value. This forces capital to seek alternatives.
  3. Government-Led Growth Focus: Despite global headwinds, the Vietnamese government is aggressively pushing its GDP growth target for 2025, primarily through a massive increase in public investment. This capital injection is channeled directly into large-scale national infrastructure, which immediately translates into higher land values in the areas it connects.

This combination has made real estate—and specifically, the undervalued South—the most logical destination for high-net-worth capital seeking superior returns.

A meander of Saigon river situated in the heart of Ho Chi Minh City. (Photo: Frida Engstroem / 500px.com)

The North-to-South Pivot: Why Hanoi’s Boom Became the South’s Opportunity

The Southern market’s appeal is amplified by the exhaustion of the Northern market’s price growth:

  • Hanoi’s Price Saturation: Between 2021 and 2025, Hanoi witnessed a staggering price increase in real estate, with its condominium prices nearly doubling since Q1 2023. This explosive growth has peaked, leaving limited potential for short-term profit margins.
  • The South’s Value Proposition: In the same period, Ho Chi Minh City’s market recorded a more moderate increase. This lower, more sustainable growth curve means that land and property in HCMC and its surrounding provinces (Binh Duong, Dong Nai, Long An) still offer a significantly lower base price and therefore higher future profit potential.

This profit-driven calculation is the single biggest driver of the North-to-South capital migration.

Infrastructure Revolution: The New Arteries for Investment Flow

The true catalyst for the South’s revival is its unprecedented infrastructure pipeline, which is transforming the region from a water-dependent transport network into a modern logistics hub centered on HCMC.

The area is now one massive construction site, with projects designed to link the economic powerhouses of the Southeast region:

  • Ring Roads and Expressways: Key projects like Ring Roads 3 and 4 (HCMC) and the Ben Luc – Long Thanh, Bien Hoa – Vung Tau expressways are being fast-tracked. These directly connect HCMC with the manufacturing and port hubs of Long An, Dong Nai, and Ba Ria – Vung Tau.
  • The Long Thanh Airport Nexus: These expressways are strategically designed to feed into the Long Thanh International Airport project, which is set to become one of Southeast Asia’s largest aviation hubs.
  • Western & Mekong Connectivity: New expressways toward Moc Bai (Tay Ninh) and the planned HCMC – Soc Trang route will finally integrate the Mekong Delta with HCMC’s economic core, unlocking vast new development potential.

Investment focus is therefore hyper-local, targeting areas like Thu Duc City (former District 9), Dong Nai, and Ba Ria – Vung Tau—locations along these new infrastructure corridors that boast strategic positioning and low historical valuations.

The Outlook: Foreign Direct Investment (FDI), attracted by Vietnam’s stable political environment and new trade agreements, is expected to further fuel this Southern surge. For international investors, successful ventures will hinge on selecting projects with clear legal status and proximity to these infrastructure bottlenecks, where the government’s spending commitment guarantees future appreciation.

Vicostone công bố kết quả kinh, 9 tháng đầu năm 2025 lãi 608 tỷ đồng

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Theo Báo cáo Kinh tế Toàn cầu do Ngân hàng Thế giới công bố vào cuối tháng 9 năm 2025, thương mại toàn cầu đang có dấu hiệu chững lại sau giai đoạn tăng trưởng ngắn nhờ chiến lược “đẩy sớm” (front-loading) – trong đó các doanh nghiệp đẩy nhanh nhập khẩu hàng hóa trước các biến động bất lợi như tăng thuế hay đình công lao động nhằm giảm thiểu rủi ro và tối ưu chi phí logistics.

Sau thời gian tạm lắng, ngày 7/8/2025, Chính phủ Hoa Kỳ đã chính thức ban hành gói thuế đối ứng (reciprocal tariffs)được điều chỉnh từ tháng 4, gây ảnh hưởng đáng kể đến hoạt động xuất nhập khẩu toàn cầu. Đồng thời, Chỉ số Quản lý thu mua (PMI) toàn cầu trong lĩnh vực sản xuất và dịch vụ đối với các đơn hàng xuất khẩu mới vẫn ở dưới ngưỡng 50 điểm trong 5 tháng liên tiếp tính đến tháng 8, cho thấy thương mại thế giới có khả năng tiếp tục suy yếu trong thời gian tới.

Tại Hoa Kỳ, sau giai đoạn tăng trưởng mạnh trong nửa đầu năm 2025, nền kinh tế đang giảm tốc do tiêu dùng hộ gia đình yếu đi, xuất khẩu sụt giảm và lãi suất cao kéo dài. Sản lượng công nghiệp tháng 7 giảm 0,6% so với tháng trước, chủ yếu do ngành ô tô và thiết bị điện tử. Lạm phát toàn phần (headline inflation) tăng lên 2,9% so với cùng kỳ tháng 8, phản ánh áp lực giá cả vẫn hiện hữu.

Ngày 17/9/2025, Cục Dự trữ Liên bang Mỹ (Fed) công bố giảm lãi suất điều hành 25 điểm cơ bản, đưa mức lãi suất cho vay xuống 4,00–4,25% – lần đầu tiên trong năm 2025. Động thái này ngay lập tức tác động đến đồng USD, thị trường chứng khoán và giá hàng hóa. Theo đại diện Fed, dữ liệu gần đây cho thấy tăng trưởng kinh tế chậm lại, số việc làm mới tăng thấp, tỷ lệ thất nghiệp nhích lên nhưng vẫn duy trì ở mức thấp, trong khi lạm phát vẫn ở mức cao hơn mục tiêu.

Kết quả hoạt động sản xuất – kinh doanh Quý III/2025

Trong bối cảnh kinh tế toàn cầu biến động, thương mại chững lại và chính sách thuế đối ứng của Hoa Kỳ bắt đầu có hiệu lực từ tháng 8/2025, Công ty Cổ phần Vicostone (mã chứng khoán: VCS) tiếp tục thể hiện sự chủ động, linh hoạt và kiên định trong chiến lược phát triển của mình.

Công ty đã sớm nhận diện các rủi ro thị trường, xây dựng kịch bản ứng phó phù hợp, kiểm soát chi phí chặt chẽ, đồng thời duy trì thị trường trọng điểm và mở rộng thị trường tiềm năng nhằm giảm thiểu tác động từ các yếu tố bên ngoài.

Trong Quý III/2025, Vicostone đẩy mạnh phát triển hệ thống phân phối trực tiếp tại các thị trường chiến lược, tăng cường hoạt động xúc tiến thương mại và nâng cao hiện diện thương hiệu quốc tế.

  • Tại Canada, Vicostone tham gia triển lãm IDS Vancouver 2025, góp phần gia tăng nhận diện thương hiệu VICOSTONE® và mở rộng mạng lưới đối tác phân phối, khách hàng quốc tế.

  • Tại Úc, Công ty tiếp tục mở rộng hệ thống phân phối thông qua các nền tảng trực tuyến và đại lý đối tác, khẳng định vị thế tại thị trường vật liệu cao cấp phát triển hàng đầu khu vực châu Đại Dương.

  • Vicostone đồng thời tăng cường đầu tư cho hoạt động marketing quốc tế, bao gồm các chương trình trưng bày, triển lãm, giúp củng cố hình ảnh thương hiệu tại Bắc Mỹ và châu Âu.

Bên cạnh đó, Công ty tiếp tục tối ưu chi phí sản xuất – vận hành, quản trị tồn kho linh hoạt và chủ động chuỗi cung ứng đầu vào (trên 95%), qua đó duy trì lợi thế cạnh tranh trong bối cảnh giá nguyên liệu và lạm phát toàn cầu vẫn ở mức cao.

Đặc biệt, Vicostone kiên định với chiến lược đầu tư cho nghiên cứu – phát triển (R&D), lấy công nghệ và sản phẩm khác biệt làm nền tảng cạnh tranh thay vì cạnh tranh bằng giá. Trong Quý III/2025, Công ty đã ra mắt 10 sản phẩm mớitại thị trường Mỹ và Canada, nhận được phản hồi tích cực từ khách hàng và đối tác phân phối. Những sản phẩm này được kỳ vọng trở thành động lực tăng trưởng doanh thu trong Quý IV/2025, đồng thời tiếp tục khẳng định vị thế dẫn đầu của Vicostone trên thị trường vật liệu đá thạch anh toàn cầu.


Kết quả tài chính hợp nhất

Chỉ tiêu Quý III/2025 Lũy kế 9 tháng 2025 % Hoàn thành kế hoạch năm 2025
Doanh thu thuần 924,95 tỷ đồng 3.061,44 tỷ đồng 64,88%
Lợi nhuận trước thuế 160,95 tỷ đồng 608,67 tỷ đồng 62,40%

Đóng góp ngân sách Nhà nước

Là doanh nghiệp niêm yết hoạt động minh bạch và tuân thủ đầy đủ pháp luật thuế, Vicostone luôn coi việc đóng góp ngân sách Nhà nước là một phần trong cam kết phát triển bền vững.

Tính đến hết Quý III/2025, Vicostone đã nộp 264,33 tỷ đồng vào ngân sách Nhà nước, tăng 34% so với 196,72 tỷ đồngcùng kỳ năm 2024. Khoản đóng góp chủ yếu bao gồm thuế thu nhập doanh nghiệp, thuế giá trị gia tăng hàng nhập khẩu, thuế nhập khẩu và thuế thu nhập cá nhân.

Chỉ tiêu Lũy kế 9 tháng 2025 Lũy kế 9 tháng 2024 % Tăng
Tổng số thuế, phí đã nộp 264,33 tỷ đồng 196,72 tỷ đồng +34%

Quản lý hàng tồn kho

Vicostone ghi nhận kết quả tối ưu hóa hàng tồn kho rõ rệt trong năm 2025. Giá trị hàng tồn kho cuối kỳ đạt 1.611 tỷ đồng, giảm 11% so với đầu năm. Kết quả này cho thấy nỗ lực của Công ty trong quản trị vốn lưu động hiệu quả, giảm chi phí lưu kho, và tăng cường hiệu suất vận hành.

Chỉ tiêu Số cuối kỳ (Q3/2025) Số đầu năm % Giảm
Hàng tồn kho 1.611 tỷ đồng 1.816 tỷ đồng -11%

Triển vọng

Mặc dù bối cảnh kinh tế toàn cầu còn nhiều thách thức, Vicostone vẫn tự tin duy trì tăng trưởng bền vững nhờ chiến lược tập trung vào đổi mới sáng tạo, quản trị kỷ luật, và mở rộng thị trường chiến lược. Công ty sẽ tiếp tục tăng cường giá trị thương hiệu, mở rộng mạng lưới phân phối, và tối ưu hiệu quả hoạt động để hoàn thành các mục tiêu năm 2025 và hướng tới giai đoạn phát triển tiếp theo.

Hanoi High-Rise Fire: Dramatic Rescue in a Cau Giay Apartment Block

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Vietnam Insider – A potentially tragic evening in Hanoi was averted by the quick action of residents and firefighters after a blaze broke out in an apartment building, leading to the dramatic rescue of two people, including an elderly woman. The incident provides a timely focus on fire safety and emergency response in Vietnam’s rapidly developing urban centers.

Quick Response Averts Disaster in Popular Residential Area

The fire erupted around 6:45 PM on Wednesday, October 30, in a bedroom on the 4th floor of the 12-story apartment complex at 15B Đông Quan, Quan Hoa ward (formerly Cầu Giấy District). While the apartment owners were away, two occupants were home, including an elderly woman with impaired health, making their escape difficult.

The building’s fire alarm system proved crucial. As the alarm sounded, many residents in the higher floors immediately began to evacuate and simultaneously contacted the emergency services, demonstrating a high level of community awareness and preparedness.

Just 10 minutes after the fire started, four fire engines and a team of 30 firefighters from Fire and Rescue Units No. 11 and 2 arrived at the scene. The immediate priority was the search-and-rescue operation.

Heroic Firefighters Locate and Carry Elderly Resident to Safety

Commanders directed a team, equipped with specialized breathing apparatus, to enter the smoke-filled apartment. Firefighters quickly located the two trapped victims, who were understandably in a state of panic. In a truly heroic act, one of the officers carried the frail, elderly woman on his back and brought her safely down to the ground floor.

Simultaneously, other crew members used the building’s internal fire hydrant system to contain the blaze, preventing the flames from spreading to adjacent units. They also worked to ventilate the area and clear the smoke. By approximately 7:10 PM, the fire was fully extinguished.

The damage was largely contained to the bedroom, where furniture was destroyed, and walls were scorched and peeled. The cause of the fire is currently under investigation.

A Look at the Building and Its Significance

The 12-story 15B Đông Quan apartment complex, operational since 2015, is typical of many modern residential buildings in Hanoi. It includes a ground floor for parking and security, a second-floor commercial area, and residential units from the 3rd to the 12th floor. Each residential floor houses eight apartments, ranging in size from 47 to 91 square meters.

While this fire resulted in no injuries, it underscores the critical importance of effective fire safety measuresand quick, professional response for residents, international investors, and property managers in Hanoi’s burgeoning high-rise property market. It serves as a stark reminder that even in modern buildings, emergency preparedness can mean the difference between life and death.

HDBank Posts $606M Profit, Leads Vietnam in Returns and Payouts—Why Foreign Investors are Circling this Digital-First Lender

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Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank, ticker: HDB) has cemented its status as one of Vietnam’s most efficient lenders, announcing a $606.6 million USD pre-tax profit for the first nine months of 2025 (up 17% YoY).

Driven by market-leading profitability ratios and a major move toward the London Stock Exchange (LSE), HDBank is positioning itself as Vietnam’s top choice for international investors seeking high growth and high dividends.

Strong Fundamentals: Leading the Efficiency Race

HDBank’s financial health is robust, outperforming the sector in core efficiency metrics:

  • Return on Equity (ROE): 25.2%, signaling exceptional profitability relative to shareholder equity.
  • Return on Assets (ROA): 2.1%, demonstrating highly effective asset management.
  • Capital Adequacy Ratio (CAR) (Basel II): 15%, placing it among the most financially secure banks in the Vietnamese market.

As of September 30, 2025, the bank’s total consolidated assets reached approximately $32.05 billion USD (up 12.1% YTD), with credit growth expanding by a rapid 22.6%, focused on essential and priority economic sectors. The non-performing loan (NPL) ratio remains tightly managed at 1.97% (individual basis).

The Digital Dividend: Non-Interest Income Explodes

HDBank’s aggressive digitization strategy is paying off handsomely, drastically diversifying its revenue streams:

  • Non-Interest Income: Soared 178.6% to $219.9 million USD.
  • Digital Adoption: Transactions via digital channels jumped 47% and now account for 94% of all transactions.
  • Cost Efficiency: The Cost-to-Income Ratio (CIR) dropped to just 25.7%—one of the lowest in the industry—reflecting superior operational leverage from its digital shift.

Serving over 20 million customers across its ecosystem, the bank is successfully transitioning into a modern, customer-centric lender.

Subsidiary Success and International Ambitions

The bank’s specialized subsidiaries are also driving group profitability:

  • HD SAISON (Consumer Finance): Maintained its market-leading position with $45.1 million USD in profit and a high ROE of 24.4%.
  • HD Securities: Recorded $25.2 million USD in profit (up 30%) and secured the industry’s top spot for ROE among securities firms.
  • Vikki Bank: The newly converted digital-first unit turned profitable just seven months after launch, rapidly acquiring over 1.3 million new customers.

Furthermore, HDBank is making a significant push for global integration. Following a high-level visit by the Vietnamese Party Chief to the UK, the bank is formalizing an MOU with the London Stock Exchange (LSE). This agreement aims to establish a framework for potential listing, international capital mobilization, and broader promotion to global investors via the London capital market.

A Green Light for Foreign Investors

HDBank continues its shareholder-friendly policies:

  • High Payout: The bank is seeking shareholder approval for a total 2025 payout of 30% (25% stock dividend and 5% bonus shares), maintaining its long-standing commitment to generous returns.
  • FDI Opportunity: Recent regulatory changes (Amended Decree 69) have raised the foreign ownership limit (FOL) at HDBank to 49%. This expanded capacity is expected to significantly boost foreign capital inflow and increase liquidity for its stock.

With its combination of superior profitability, a clear digital strategy, high dividend yields, and a tangible move toward international capital markets, HDBank is uniquely positioned to remain a double-digit growth leader in Vietnam’s fast-evolving banking sector.

Cold Front to Blast Northern Vietnam, Bringing Heavy Rains and Coastal Hazard Warnings

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A major cold wave is sweeping into Vietnam, with temperatures in Hanoi set to drop sharply and officials warning of heavy rainfall, flash floods, and coastal hazards that could disrupt travel and logistics.

HANOI – International travelers, expatriates, and logistics companies operating across Northern and North-Central Vietnam must brace for a significant and sudden shift in weather, as a powerful cold front begins to move across the country.

The national weather center confirmed that the cold air mass is intensifying and will first impact the Northeast region on the afternoon and night of October 30th. It will then spread rapidly to the Northwest, North Central Coast, and even parts of the Central Coast.

This cold snap is not just about temperature; combined with an upper-level disturbance, it will trigger heavy rain, raising immediate concerns for urban flooding, supply chain disruptions, and health risks.

Temperature Plunge and Health Alert

The most noticeable impact will be the sharp drop in temperatures, particularly at night and in the early morning:

Region Lowest Temperature Forecast
Hanoi (Cool at night/morning)
Northern Delta/Uplands
Northern Mountain Areas Below (The coldest air)

Authorities are advising residents and visitors—especially those sensitive to cold—to take precautions, as the sudden shift from warm conditions to chilly nights can affect health.

Severe Weather & Logistics Warnings

The combined cold air and “easterly wind disturbance” are forecast to generate the most serious weather hazards for the North Central Coast, particularly the area stretching from Thanh Hóa to North Quảng Trị.

Torrential Rain & Flooding: Moderate to heavy rainfall is expected, with isolated areas experiencing very heavy downpours. This raises the risk of flash floods on small rivers, landslides on steep slopes, and urban flooding in low-lying areas, including major cities and industrial parks.
Agricultural Damage: Thunderstorms, hail, strong winds, and lighting could cause localized destruction to property, crops, and essential infrastructure.
Maritime Hazard Alert for Shipping

Shipping and port operations in the Gulf of Tonkin and the northern area of the East Sea (South China Sea) are also on high alert.

Starting the evening of October 30th, the region is expected to see northeast winds strengthening to Force 5, occasionally Force 6, with gusts up to Force 7-8. Rough seas with wave heights of 1.5 to 2.5 meters in the Gulf of Tonkin, and 2 to 4 meters in the northern East Sea.

Vessels are advised to take urgent precautions against strong winds, large waves, and squalls that could disrupt movement and other maritime activities.

HCMC Pledges ‘Green FDI Fast Track’ as Foreign Investors Demand End to Traffic Chaos and Permit Delays

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Despite leading Vietnam in FDI inflows, HCMC’s key foreign investors warn that complex, year-long permitting processes and infrastructure chaos are eroding the city’s competitiveness against rivals like Bangkok and Singapore.

HO CHI MINH CITY – Ho Chi Minh City (HCMC), Vietnam’s economic powerhouse, is facing a critical crossroads. On one side lies the city’s ambition to become a top-100 global ‘super-hub’ by 2045; on the other, the stark reality of crippling administrative and logistical bottlenecks, according to its most valuable partners: the foreign direct investment (FDI) community.

Related: Here’s how to set-up a foreign invested company in Vietnam’s HCMC

At the “Meeting with Foreign-Invested Enterprise Community 2025” event, executives from major business chambers—including AmCham, EuroCham, SingCham, and AusCham—unanimously identified two core risks that are reducing HCMC’s attractiveness:

  • Administrative Friction: Complex and opaque licensing that drags on for up to 12 months.
  • Logistics Chaos: Severe traffic congestion and slow cargo clearance at air and sea ports.

This warning comes despite HCMC’s stunning success in attracting capital, currently leading the nation with $141.2 billion in valid registered FDI. In the first nine months of this year alone, new FDI surged $7.1 billion, marking a 37.4% year-on-year increase.

The Permitting Trap: The 13-Day Illusion

The greatest frustration stems from a lack of clarity in administrative procedures, which often creates an investment timeline bottleneck.

Seck Yee Chung, Vice Chairman of the Singapore Business Association (SingCham), cited a recent decree that sets a processing limit of 13 working days for certain licenses. However, he revealed the reality is often nine to twelve months, noting, “The time taken to seek comments and feedback from multiple departments, such as the Department of Industry and Trade, is not included in the official deadline.”

Seck Yee Chung @ ITPC

This inconsistency and delay, echoed by Sam Conroy, President of the Australian Business Association (AusCham), undermines HCMC’s competitive edge against regional financial centers. Travis Mitchell, CEO of the American Chamber of Commerce (AmCham), stressed that the city must guarantee timely business and operating license issuance to strengthen investor confidence.

Gridlock and The Logistics Challenge

Beyond paperwork, investors are demanding better physical infrastructure. EuroCham Vice President Erick Contreras pointed to persistent delays in cargo customs clearance, while AusCham highlighted how severe traffic congestion impacts business efficiency and output.

The consensus solution involves upgrading public transit and adopting modern urban planning. Michele D’Ercole, President of the Italian Chamber of Commerce (Icham), urged HCMC to expand its metro and bus systems and center its master planning around the Transit-Oriented Development (TOD) model to reduce reliance on private vehicles, cut emissions, and ease gridlock.

HCMC Pledges Structural Reform and a Global Hub

HCMC Chairman Nguyen Van Duoc acknowledged the challenges—including traffic, flooding, pollution, and red tape—and affirmed the city views foreign enterprises as the “focus, driving force, and resource for development.”

The Chairman laid out an ambitious roadmap focused on three pillars:

  • Tech-Driven Growth: Restructuring the economy towards science, technology, and innovation.
  • Green Transformation: Pushing for comprehensive green development.
  • Strategic Infrastructure: Developing the Cần Giờ international transshipment port and, crucially, an International Financial Center.

The city is targeting an average Gross Regional Domestic Product (GRDP) growth of 10%−11% annually through 2030.

The International Financial Center as a Breakthrough

The proposed International Financial Center (IFC) is viewed by AmCham as “one of the most breakthrough reforms” in recent years, with the potential to transform Vietnam into a regional hub for green finance and capital.

However, international partners provided crucial caveats. AmCham and BritCham representatives recommended that to succeed, the IFC must maintain regulatory independence, ensure transparency in capital flows, build a reliable dispute resolution mechanism and adopt English as the primary working language to align with global financial norms.

A ‘Green FDI Fast Track’

In a targeted recommendation, the Nordic Business Association (NordCham) proposed creating an “FDI Fast Track”—a dedicated, single-window unit with English-language support—specifically for large-impact digital and green investment projects.

According to NordCham President Thue Quist Thomasen, prioritizing renewable energy, upgrading the power grid, and providing clear power purchase agreements (PPAs) could unlock a new wave of FDI from Nordic firms ready to deploy technology and operational expertise.

HCMC is aiming to spend 2%−3% of its GRDP on Research and Development (R&D) to underpin this shift, assuring investors that the push for market transparency and an equitable environment will continue as it ascends the global financial ranks.

Interpol Red Notice Fugitive Arrested in Vietnam’s Tourist Hub of Nha Trang

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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: No Other Nation Compares to Vietnam’s Speed of Market Reform

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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 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 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:

  1. Legal Framework: Enhancing the regulatory framework to boost transparency and investor protection.
  2. Barrier Removal: Addressing current market access hurdles, clarifying foreign ownership limits, and improving data exchange.
  3. Infrastructure: Modernizing technical infrastructure to meet the scale and operational demands of large international funds.
  4. Product Diversification: Expanding product offerings, including promoting the issuance of green bonds and sustainable bonds.
  5. Investor Professionalism: Encouraging domestic retail investors to adopt more professional investment practices.
  6. 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.

Vietnam’s $6B Consumer Titan Masan Consumer Targets VN30 Blue-Chip Status

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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.

G-Dragon Concert Triggers Over 250% Surge in Hanoi Hotel Searches

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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 Sparks Debate Over New Carry-On Weight Checks and Fees

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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.

Boy Swept Away in Da Nang Floodwaters Miraculously Rescued — Heartbreaking Story Behind Viral Clip

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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.”

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