Motorbike Mechanics in Hanoi Dubbed “Kings of All Jobs” During Storm Season

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After days of torrential rain brought by Typhoon Bualoi’s circulation, motorbike repair shops in Hanoi have become some of the busiest places in the city—so busy, in fact, that locals are jokingly calling mechanics the “kings of all trades” this storm season.

At 6 a.m. on October 1, mechanic Nguyen Quyet opened his shop on Doi Can Street earlier than usual, fully aware of the hectic day ahead. “Yesterday’s rain lasted from morning until late afternoon, and many people only made it home late at night due to flooding. This morning, they rushed to get their bikes fixed in time for work,” he explained. By dawn, his phone was already ringing with customer calls, some as early as 5:30 a.m.

Flooding Leaves Hanoi Struggling

Heavy rains on September 30 left more than 80 flooded spots across Hanoi. By the morning of October 1, over 20 areas—including Duong Dinh Nghe, Hoa Bang, Phan Van Truong, Vo Chi Cong, Phuc Xa, and the Thang Long Boulevard underpass—remained waterlogged.

For motorbike owners, the floods meant a costly inconvenience. Quyet shared that minor water damage repairs, such as draining water, replacing spark plugs, and cleaning air filters, typically cost around VND 500,000–600,000 (USD 20–25). However, if riders attempted to restart their bikes with water inside the engine, it could lead to bent connecting rods or even broken pistons—pushing repair costs into the millions of dong (hundreds of U.S. dollars).

By midday, Quyet’s shop was still packed with bikes waiting their turn. The situation was mirrored across the capital, with some garages so overwhelmed that they temporarily stopped taking new customers.

“Good Business, But Only Seasonal”

While the surge in demand brings a significant boost in income—Quyet admitted that “a single rainy day’s earnings can equal half a month’s income in normal times”—he also acknowledged the challenges ahead.

Hanoi is preparing to ban gasoline-powered motorbikes within Ring Road No. 1 starting July 1, 2026, under Prime Ministerial Directive 20. This policy aims to reduce emissions and ease congestion, but it poses uncertainty for traditional mechanics like Quyet.

Electric bikes, which feature sealed engines without exhaust pipes or air intakes, are far less vulnerable to flood damage. Yet, their maintenance presents its own difficulties: spare parts are harder to source, and repairs often require specialized knowledge.

“Motorbike repair during storm season may seem like a golden job now,” Quyet said, “but the future will be very different.”

As climate change continues to intensify extreme weather, motorbike repair remains a resilient, if seasonal, business in Hanoi. But with Vietnam’s looming transition toward electric vehicles, the city’s mechanics may soon have to adapt—or risk being left behind.

 

VietinBank to Resume Cash Dividend Payout After Nearly Four Years, Allocating Over VND 2.4 Trillion in November

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Vietnam’s banking sector is seeing another major development in shareholder returns, as state-owned lender VietinBank (HoSE: CTG) has announced plans to distribute cash dividends for the first time in nearly four years.

According to a resolution recently approved by the bank’s Board of Directors, VietinBank will close its shareholder list on October 15, 2025, to pay a cash dividend of 4.5%, equivalent to VND 450 per share. The payment date is set for November 17, 2025.

With nearly 5.37 billion shares outstanding, the lender is expected to disburse over VND 2.4 trillion (approx. USD 94 million) to shareholders. The last time VietinBank made a cash dividend payment was at the end of 2021, when it distributed an 8% dividend.

The move follows Vietcombank’s (HoSE: VCB) recent announcement to pay a 4.5% cash dividend on October 24, 2025, reflecting a broader trend among Vietnam’s “Big 4” state-owned commercial banks (Vietcombank, VietinBank, BIDV, Agribank) to return more profits to shareholders.

Capital Increase Plan Through Stock Dividend

Beyond cash dividends, VietinBank is also pursuing a significant capital increase. The bank’s 2025 Annual General Meeting approved a plan to issue shares to existing shareholders, aimed at raising its charter capital from VND 53.7 trillion to VND 77.7 trillion—a 44.6% increase.

This will be carried out by issuing up to 2.4 billion new shares, funded by retained earnings from 2009–2016 and profits from 2021–2022. The specific issuance timeline will be determined by the Board of Directors, pending regulatory approval.

The return to cash dividend payouts underscores VietinBank’s improving profitability and capital buffer, signaling resilience in Vietnam’s banking sector despite macroeconomic headwinds. For international investors, this development highlights both dividend income opportunities and the potential for long-term capital appreciation as VietinBank strengthens its capital base.

Vietnamese stock market takes a breather after four-month surge

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Vietnam Insider – The Vietnamese stock market is currently navigating a period of sideways trading and consolidation, reflecting investor caution ahead of several significant information announcements. This pause comes after an extraordinary four-month rally that saw the VN-Index surge by approximately 37%.

September marked a month of fluctuation but without a clear trend, with the VN-Index closing down modestly by about 20 points (). This slight dip broke a notable four-month winning streak, which had previously added over 450 points to the index. The long ascent with only brief corrective phases has naturally led to profit-taking pressure near the 1,700-point peak.

Domestic Money Provides Crucial Support

Despite continued strong net-selling by foreign investors, the domestic cash flow has been the primary engine keeping the market resilient. The sustained low interest rate environment in Vietnam is a key factor supporting this influx of local capital into the stock market. However, overall investor sentiment remains cautious as they await major developments.

Eyes on FTSE Russell: A Potential Market Upgrade

The immediate focus for the market will be on FTSE Russell’s semi-annual market classification reviewresults, expected to be announced on October 8th (after the close of the US market on October 7th).

High Hopes for Upgrade: Market analysts widely believe there is a strong possibility that FTSE Russell will upgrade Vietnam from a Frontier Market to a Secondary Emerging Market.

Government Commitment: The Vietnamese government has been actively focused on implementing reforms to achieve this upgrade. Finance Minister Nguyen Van Thang recently highlighted “vigorous reforms and policies” enacted to create favorable conditions for foreign investment.

Analyst Confidence: Nguyen Duy Hung, Chairman of SSI, recently stated the upgrade has a “90% plus” probability of being announced in early October. Huang Bo, CEO of Guotai Junan Vietnam (IVS), echoed this optimism, calling it the “biggest opportunity ever” for an upgrade, which he predicts could attract billions of USD in foreign capital and provide a powerful long-term boost to the VN-Index.

While a successful upgrade is not considered a panacea, it is seen as a crucial step, with satisfying MSCI criteria remaining another key goal.

Upcoming Q3 Earnings Season

Beyond the upgrade narrative, the market is also preparing for the Q3 financial reporting season, with peak announcements expected toward the end of October. Early projections from brokerage houses and company estimates are starting to surface, promising another round of impactful information for the market.

Brokerage firms themselves are anticipated to report a strong earnings season, particularly due to robust proprietary trading activities. Furthermore, key sectors such as banking, real estate, construction, steel, and retail are widely projected by various brokerages to show significant year-over-year growth.

Outlook: Optimism with a Call for Prudence

The impending flow of information—particularly the FTSE Russell decision and the Q3 earnings reports—is generally expected to have a positive impact on the Vietnamese stock market.

While optimism is high, investors are advised against complacency. Official confirmation on all fronts is still pending. The current period of consolidation could be a healthy break, and investors should remain vigilant to avoid short-term volatility causing them to miss out on attractive long-term opportunities.

Tornado Devastates Ninh Bình, Killing Nine and Leaving Dozens Injured

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NINH BÌNH, Vietnam — A powerful tornado struck multiple communes in Ninh Bình Province before dawn on September 29, leaving at least nine people dead, 18 injured, and hundreds of homes damaged or destroyed.

In Phú Bình village, Nguyễn Minh Đức, 29, recalled being lifted from his bed by the violent winds. His grandparents were buried under collapsed walls but survived with broken bones. Others were less fortunate: two elderly residents were killed when their home caved in.

Entire neighborhoods were left in ruins. Roofs were torn away, concrete walls leveled, and water tanks, vehicles, and furniture scattered hundreds of meters. “It felt like a bomb went off,” said Hoàng Thị Hường, 58, who survived by sheltering in a corner as her roof was ripped off.

Authorities reported 11 homes collapsed, 126 unroofed, five schools and a health station damaged, along with temples and markets. Families are now clearing debris, some borrowing money to repair homes while others shelter with neighbors.

Meteorologists said the twister was fueled by unstable weather patterns as Typhoon Bualoi’s circulation collided with lingering remnants of another storm and a northern cold front. The same system triggered tornadoes in Hưng Yên, Hải Phòng, and Quảng Ninh, causing additional deaths and injuries.

“We just want a roof and a bed so my sick wife has somewhere proper to rest,” said 82-year-old Nguyễn Văn Thủ, whose house was destroyed.

Billionaire Thao’s Ecosystem Enters Vietnam’s Crypto Exchange Race with Trillion Capital Target

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A new major contender, backed by the ecosystem of Vietnamese billionaire Nguyen Thi Phuong Thao, has officially entered the race to establish a formal digital asset exchange in Vietnam. This move immediately follows a significant fundraising plan by an affiliated securities firm, signaling an aggressive push into the newly opening regulated crypto market.

HDEX Established with Massive Capital Ambitions

On September 25, 2025, HD Digital Asset Exchange JSC (HDEX) was officially established with an initial charter capital of billion. The company is strategically headquartered in Ho Chi Minh City.

The shareholder structure of HDEX reveals its roots deep within the billionaire’s corporate network: HD Securities (HDBS), an affiliate of HDBank, holds a stake. The remaining is held by Galaxy Pay Co., Ltd. and Galaxy Technology Services JSC.

These two Galaxy entities are members of Galaxy Holdings (Galaxy Digital Holdings Co., Ltd.), the digital technology group under Sovico Group. Notably, Galaxy Holdings was initially led by Ms. Nguyen Thi Phuong Thao herself until July 4, 2025, when Mr. Huynh Kim Tuoc—a specialist with over years of experience in digital transformation and technology, and who helped lay the groundwork for Google and YouTube in Vietnam—was appointed Chairman and CEO. Mr. Tuoc also chairs the Board of Directors at HDEX.

Securities Arm Signals Trillion Capitalization Plan

The formation of HDEX comes just days after HDBS announced an ambitious plan to seek shareholder approval for raising over trillion by offering more than million shares to existing shareholders.

Crucially, the capital utilization plan earmarks approximately trillion to be invested into a digital asset exchange company—strongly indicating HDEX. This company is projected to ultimately raise its charter capital to a massive trillion ( million).

This substantial capital target is directly linked to recent regulatory developments.

Regulatory Framework Drives Institutional Entry

The timing of this investment rush is propelled by a new legal framework. Resolution 05/2025/NQ-CP, issued by the Government on September 9, 2025, permits the pilot implementation of a digital asset market in Vietnam.

This resolution sets strict requirements for operating an exchange, including: A minimum charter capital of trillion. At least of the capital must be held by a minimum of two institutions, such as banks, securities companies, fund managers, or insurance firms.

This mandate explains the necessity for HDEX’s massive capital increase plan and the strategic involvement of affiliated financial institutions like HDBS and HDBank.

The Race to Formalize Crypto Trading

The Sovico/HDBank ecosystem is not alone. Vietnam’s digital asset exchange market is attracting major financial players, signaling a nationwide effort to transition crypto trading from informal, international platforms to a regulated, domestic financial market.

Other prominent names entering the fray include CAEX, backed by VPBankS, VIXEX, backed by VIX Securities, TCEX, linked to TCBS and MB Bank’s cooperation with Korea’s Dunamu (operator of the Upbit exchange).

The participation of these major institutions is a bullish sign for the formal integration of digital assets into Vietnam’s financial system. According to Chainalysis, crypto inflows to Vietnam reached over billion between June 2024 and July 2025. VinaCapital estimates that approximately million Vietnamese own crypto assets, though most currently trade on international platforms. This institutional push aims to capture and regulate that immense volume domestically.

ADB Lifts Vietnam’s GDP Growth Forecast to 6.7% for 2024 Amid Strong Exports and FDI

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The Asian Development Bank (ADB) has raised its forecast for Vietnam’s economic growth this year to 6.7%, citing buoyant exports and robust Foreign Direct Investment (FDI) despite the counter-tariffs imposed by the US. This new projection, announced on September 30, represents a 0.4 percentage point increasefrom the ADB’s figure two months prior.

Drivers of Optimism

Mr. Nguyen Ba Hung, an ADB economic expert, noted that the upgrade is based on several positive economic factors in the early months of the year. Both export activity and foreign investment have continued to climb, even with the influence of US tariffs. Mr. Hung highlighted Vietnam’s strong competitive advantage, observing that its tariff exposure is “not significantly worse than regional trade partners.” This optimistic outlook is shared by others: UOB Bank recently lifted its 2024 GDP forecast to 7.5%, and the World Bank (WB)projects full-year growth could reach 6.6%. The Vietnamese government has set a higher national target of 8.3-8.5% GDP growth for the year.

Trade and Investment Performance

Vietnam’s trade and investment figures through August have been strong. Exports surged by 14.8%, totaling around $306 billion. The US market saw the most substantial growth, up 26.4% year-on-year, while China and Japan also recorded increases. Concurrently, FDI disbursement—capital actually deployed—remained vigorous, growing 8.8% year-on-year to $15.4 billion. An ADB representative stressed this is the highest eight-month disbursement level in five years, demonstrating the confidence of existing foreign firms. However, a slight caution emerged as newly registered FDI capital fell by 8.1%, which the expert attributes to the “hesitation” of new investors due to global trade uncertainty.

Near-Term Challenges and Policy Focus

The ADB anticipates that growth will moderate in the remaining months of the year as exports start to absorb the impact of the new US counter-tariffs, effective since early August at a 20% rate on certain Vietnamese goods. The vigorous export growth in the first eight months was partly driven by a temporary surge as companies accelerated production to pre-empt the new tariffs. This slowdown is also reflected in the Purchasing Managers’ Index (PMI), which returned to the 50-point balance mark in August after July’s positive growth, suggesting a plateau in future orders.

Despite this near-term cooling, the ADB forecasts the economy will remain robust into 2025-2026, supported by expansionary fiscal and monetary policies. Mr. Shantanu Chakraborty, ADB Country Director for Vietnam, emphasized that better coordination between fiscal and monetary policy is key to avoiding undue pressure on monetary tools and safeguarding macro-financial stability. The bank also noted high credit growth—18%through August against a full-year target of 16%—which, while fueling growth, poses a potential macro risk if short-term credit is disproportionately directed toward non-productive assets like gold or stocks. The ADB’s long-term recommendations focus on comprehensive legal reforms to address climate change and enhance private sector competitiveness, alongside modernizing the tax system and promoting digital transformation. For 2026, the ADB projects economic growth at 6% with inflation at 3.8%.

Foreign Investors Extend Selling Streak, Dump Nearly $16 Million in Real Estate Stock on Mixed VN-Index Close

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Hanoi, Vietnam – September 30, 2025 – The final trading session of September 2025 saw the Vietnam stock market trade in a narrow, indecisive range, with the benchmark VN-Index closing down slightly by nearly 5 points to settle at 1,661.7 points. Total matching order value on the Ho Chi Minh Stock Exchange (HoSE) reached approximately 29.155 trillion VND.

Persistent Net Selling by Foreign Bloc. Foreign investors continued their net selling trend, booking a substantial net outflow of 1.268 trillion VND (approximately $51.5 million) across the entire market.

HoSE: Heavy Selling Dominates

On the HoSE, the foreign bloc was a net seller to the tune of approximately 1.280 trillion VND.

The selling pressure was most concentrated in the real estate sector, with stock KDH (Khang Dien House Trading and Investment) being the hardest hit, recording a massive net sell value of 382 billion VND (around $15.5 million).

Other major stocks also faced significant selling HPG (Hoa Phat Group) was net sold by 172 billion VND and FPT, SSI, and VHM all saw net selling in the range of 103 to 121 billion VND each.

Selective Buying Focus

Despite the overall selling, foreign investors selectively purchased several key stocks, such as CII (Ho Chi Minh City Infrastructure Investment) and SHB (Saigon-Hanoi Commercial Joint Stock Bank) led the net buying across the market with values of 90 billion VND and 82 billion VND, respectively. Other banking and infrastructure-related stocks such as TCB, LPB, and TAL also attracted net buying, with values ranging from 56 billion VND to 75 billion VND.

Other Exchanges See Mixed Flows

HNX: Small Net Inflow

On the Hanoi Stock Exchange (HNX), foreign investors recorded a small net buying total of just over 18 billion VND. CEO and MBS were the primary targets, with net purchases of 25-45 billion VND. However, IDC saw significant net selling of 42 billion VND, followed by PVS with 23 billion VND in net sales.

UPCOM: Marginal Net Outflow

The UPCOM market registered a marginal net selling of 6 billion VND. ACV (Airports Corporation of Vietnam) was the main stock sold, with a net value of 20 billion VND. On the buy side, VEA and DDV saw small net purchases ranging from 3-6 billion VND.

Hanoi Commuters Struggle for Hours Amid Heavy Rain and Flooding

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Torrential rain from Tropical Storm No. 10 brought severe flooding and traffic paralysis to Hanoi on the morning of September 30, forcing many residents to abandon vehicles or spend hours inching their way to work and school.

Some commuters reported journeys taking up to three hours. Hải Anh, 28, left early from Thanh Xuân District for her office in Cầu Giấy but still endured gridlock. “Normally it takes me 45 minutes. Today it was nearly three hours,” she said, describing vehicles at a standstill along Phạm Hùng Street as thousands converged from major arteries.

Flooded roads left many stranded. Đức, 35, said his motorbike stalled in deep water near Mỹ Đình Stadium. “I had to push it for 400 meters. With no repair shop in sight, I gave up and went home,” he said.

Parents also struggled to get children to school. Nguyễn Trang, 30, attempted to take her son to class but was forced to turn back after her motorbike stalled in heavy rain. “We were soaked through, and cars created waves that nearly knocked us off,” she recalled.

By 7 a.m., major intersections such as Trôi–Lai Xá in Hoài Đức District were submerged, with vehicles turning back in long lines. Residents said flooding was the worst they had seen in more than a decade.

Hanoi Drainage Company reported rainfall of up to 198 mm in some districts within 24 hours. Pumping stations across the city, including Yên Sở, Cầu Bươu, and Đồng Bông, have been operating at full capacity to ease water levels, though conditions remain severe in several neighborhoods.

China Sentences 16 to Death Over Myanmar-Based Fraud and Murder Ring

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A court in Wenzhou, Zhejiang Province, on September 29 sentenced 16 people to death for their roles in a notorious Myanmar-based criminal network accused of online fraud, drug trafficking, prostitution, and multiple murders.

According to state broadcaster CCTV, prosecutors found that since 2015, the Ming family syndicate had exploited its influence in Myanmar’s Kokang region to establish scam compounds and coordinate large-scale criminal operations. The group was accused of running online fraud schemes, drug deals, illegal casinos, and sex trafficking rings.

The court said the syndicate used violence to control its operations, killing at least 14 people — including 10 who tried to escape or disobey orders. In one case in October 2023, gunfire erupted at a scam compound as gang members attempted to prevent victims from being repatriated to China.

Authorities revealed the group drew more than 10 billion yuan (US$1.4 billion) in financial backing from armed “sponsors.” While 16 received death sentences — five with a two-year reprieve — another 23 defendants were handed prison terms ranging from five years to life.

The verdict comes as China steps up cross-border cooperation with Southeast Asian countries to dismantle such scam hubs. Thousands of people have been repatriated from Myanmar in recent months.

The UN Office on Drugs and Crime has warned that cyber-fraud networks, many led by Chinese nationals, are generating tens of billions of dollars annually and are expanding beyond Southeast Asia to Africa, Latin America, the Middle East, Europe, and the Pacific. An estimated hundreds of thousands of people are trapped working in these compounds worldwide.

Landslide in Sa Pa Sweeps Car Off Mountain Road

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A landslide triggered by heavy rain in Sa Pa (Lào Cai Province) on September 29 sent a car tumbling down a mountainside, though the driver escaped unharmed.

At around 5:08 p.m., a section of road leading to Cát Cát village suddenly gave way, with rocks and soil crashing down onto the roadway. Dashcam footage from a following vehicle captured the moment a black car was struck and pushed off the road, sliding down the slope.

Local authorities confirmed the incident. “Fortunately, the driver is safe,” said Phan Đăng Toàn, chairman of Sa Pa Ward People’s Committee.

The car sustained significant damage after being swept downhill.

The incident comes as northern Vietnam continues to experience widespread heavy rain and thunderstorms from Tropical Storm No. 10. The National Center for Hydro-Meteorological Forecasting has warned of heightened risks of flash floods and landslides in provinces including Lào Cai, Sơn La, Phú Thọ, and Thanh Hóa, with rainfall in some areas exceeding 250mm.

Vietnam Counts 19 Dead, 13 Missing After Typhoon Bualoi’s Destructive Sweep

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Vietnam Insider – Vietnam has reported 19 deaths and 13 missing persons after Typhoon Bualoi unleashed powerful winds, torrential rain, and widespread flooding across the country.

According to the Department of Dike Management and Disaster Prevention under the Ministry of Agriculture and Environment, fatalities were concentrated in northern provinces. Eleven people were killed in Ninh Binh and Hung Yen due to tornado-like winds, while others died in Son La, Lang Son, Nghe An, Hue, Ha Tinh, Da Nang, and Thanh Hoa due to flash floods, landslides, and storm-related accidents.

Among the missing are 12 fishermen from Ho Chi Minh City whose boats sank while sheltering in Quang Tri, and eight more crew members from Gia Lai who lost contact with authorities while operating 110 nautical miles offshore.

Widespread Damage Across Multiple Provinces

The storm damaged more than 104,000 homes, with Ha Tinh alone accounting for nearly 79,000. Over 9,400 hectares of rice and crops and 1,700 hectares of aquaculture farms were submerged or destroyed, particularly in Nghe An and Ha Tinh.

Infrastructure damage is severe:

  • 3,400 electricity poles were toppled, leading to widespread blackouts in Thanh Hoa, Nghe An, Ha Tinh, and Quang Tri.
  • More than 13,000 trees were uprooted.
  • Floodwaters cut off national highways at 163 locations, causing significant traffic disruptions.
  • Ten dike and embankment failures were reported, including major breaches in Ninh Binh, Thanh Hoa, Ha Tinh, and Quang Tri.

Air travel was also disrupted, with 42 flights canceled and 51 delayed at airports in Da Nang, Phu Bai, Dong Hoi, and Tho Xuan.

Bualoi, which formed on September 24 east of the Philippines, made landfall in Ha Tinh early on September 29 with winds reaching Category 11 on the Beaufort scale. Some areas, including Thua Thien-Hue, received up to 857 mm of rainfall, triggering floods on multiple rivers such as the Chu, Ma, Ca, and Ngan Pho.

Prime Minister Pham Minh Chinh has issued an emergency directive, extending condolences to victims’ families, urging free medical treatment for the injured, and mobilizing resources to search for the missing and restore essential services.

Authorities also ordered hydropower plants Hoa Binh and Tuyen Quang to release water from their reservoirs to ease flood risks downstream.

Typhoon Bualoi weakened into a tropical depression after 13 hours on land, but its devastation leaves behind a long road to recovery for affected provinces.

Vietnam Awaits Key FTSE Decision on Market Reclassification to Secondary Emerging Market

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Vietnam’s stock market is approaching a pivotal moment. On October 8, 2025, FTSE Russell will release the results of its September 2025 semi-annual market classification review (after U.S. markets close on October 7). Investors are closely watching whether Vietnam will be upgraded from Frontier Market to Secondary Emerging Market status.

Expectations of a potential upgrade have created both anticipation and anxiety among institutional and retail investors. The VN-Index has traded sideways over the past month, while liquidity dropped sharply—from VND 55.6 trillion ($2.2 billion) in August to VND 39.7 trillion ($1.6 billion) in September. Brokerage house Vietcap remains confident that FTSE Russell will deliver a positive outcome for Vietnam.

Key FTSE Russell Criteria Still Under Review

Settlement Cycle (DvP): Currently rated “Restricted” (must reach “Pass” for upgrade). The barrier has been the requirement for foreign institutional investors to fully pre-fund trades at T+0. Vietnam’s Ministry of Finance addressed this in Circular 68 (November 2024), introducing a Non-Pre-Funding (NPF) settlement process. Over the past 11 months, FTSE Russell has been monitoring its effectiveness. Vietcap believes this criterion now meets the “Pass” level.

Settlement Costs for Failed Trades: Upgraded from “Unrated” to “Restricted” in March 2025. Since NPF implementation, Vietnam has established clear procedures for trade failures, including timelines and costs. Only one failed trade has been recorded (December 2024), which was successfully resolved, serving as a stress test for the system. Vietcap expects this criterion to also reach “Pass.”


Remaining Concerns
  • Capacity of NPF Providers: Of 82 securities firms in Vietnam, only 10 currently offer NPF services. Their maximum combined capacity is VND 132 trillion ($5 billion). The top three brokers serving foreign investors—led by Vietcap—have a combined capacity of VND 40 trillion ($1.5 billion). This is sufficient to handle the estimated $1 billion inflows from index-tracking funds, which are expected to invest in tranches of $200–250 million over 4–5 phases rather than in a single block.

  • Cash Settlement Timing: Index funds often need to sell assets in T+2 markets to fund Vietnam purchases. The key safeguard is Auto-FX arrangements between investors and custodian banks, ensuring timely funding. Without Auto-FX, funds still have until 3:00 pm T+3 to transfer capital domestically, reducing settlement risk.

  • Account Opening Process: Foreign investors have long cited administrative burdens. The State Bank of Vietnam has since streamlined procedures under Circulars 03 and 25, removing the requirement for consular legalization. Account opening now typically takes only two weeks, depending on investor–custodian cooperation.

Has FTSE Made Its Decision?

Not yet. Despite market rumors, no decision has been finalized. FTSE Russell’s process involves multiple layers:

  • FTSE Equity Country Classification Advisory Committee (Sept 2, 2025): technical experts in trading, custody, and portfolio management.

  • FTSE Russell Policy Advisory Board (Sept 18, 2025): senior figures from investment management and asset ownership.

Recommendations from these groups are reviewed by the FTSE Russell Index Governance Board, which makes the final decision this week. Membership and views of the advisory committees remain confidential.

What Happens if Vietnam Is Upgraded?

If confirmed, Vietnam’s upgrade will be published in FTSE Russell’s September 2025 Annual Market Classification Review, along with an FAQ detailing:

  • Implementation schedule (likely 4–5 tranches, first as early as March 2026)

  • List of 10–15 Vietnamese stocks to be included initially

  • Vietnam’s projected index weightings across FTSE benchmarks

Index funds will begin account registration and trading code applications immediately after the announcement.

Expected Capital Flows

  • Passive inflows: at least $1 billion during implementation

  • Total net foreign inflows: $6–8 billion, with potential for $10 billion in an optimistic scenario, combining both passive and active funds

  • Index weight: Vietnam projected at 0.3% in the FTSE Emerging Markets All Cap China A Inclusion Index, with ~30 Vietnamese stocks qualifying based on size, liquidity, and foreign ownership limits

The upgrade would provide a powerful counterbalance to persistent foreign net outflows—estimated at over $9 billion since 2023.

Outlook

Vietnam’s possible elevation to Secondary Emerging Market status marks a transformative step in its capital market development. If confirmed, it could unlock billions in foreign inflows, enhance market depth, and bolster Vietnam’s role in global emerging market portfolios.

For investors, the FTSE decision on October 8, 2025 will be a defining moment to watch.

Ho Chi Minh City Rises in Global Financial Centre Rankings, Surpasses Bangkok and Nears Jakarta

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(Vietnam Insider) – Ho Chi Minh City (HCMC) has strengthened its position on the global financial map, climbing in the Global Financial Centres Index (GFCI 38) to rank 95th out of 120 international financial hubs. With a score of 664 points, the city advanced three places from the previous report, surpassing Bangkok and moving within close reach of Jakarta.

More importantly, HCMC has been identified among the Top 16 financial centres worldwide expected to increase in influence over the next 2–3 years, reflecting its growing integration and competitiveness in the global financial system.

Regional Context

Within ASEAN, Singapore remains the region’s leader, ranking 4th globally with 763 points, while Kuala Lumpur holds 45th place with 714 points. Jakarta ranks 91st with 668 points, only four points ahead of HCMC, whereas Bangkok has slipped to 102nd with 657 points.

This shift positions HCMC as an emerging contender in Southeast Asia’s financial landscape, highlighting Vietnam’s accelerating reforms and ambitions to build a global financial hub.

Strengths and Challenges

The improved ranking stems from multiple factors: Regulatory reforms aimed at greater transparency and a more business-friendly environment. Strong fintech momentum, with international recognition of HCMC as a vibrant testing ground for innovations such as e-wallets and blockchain applications. Increased foreign investment flows, with global funds and banks expanding their footprint in the city.

However, challenges remain. HCMC’s financial and technological infrastructure still lags behind Singapore and Kuala Lumpur. The city also faces a shortage of high-level talent in fintech, capital markets, and risk management, while building long-term global credibility will require sustained effort.

A Turning Point: Digital Assets

Momentum may accelerate with the Vietnamese government’s recent Resolution 05/2025, which launches a five-year pilot program for a digital asset market. Analysts believe this could provide HCMC with a significant competitive edge, particularly as global financial centres increasingly embrace digital assets and fintech innovation.

Outlook

For international investors, HCMC’s steady rise reflects both opportunities and risks. As ASEAN emerges as one of the world’s fastest-growing economic regions, HCMC’s combination of a dynamic economy, rapid digital adoption, and proactive policy reforms positions it as a city to watch.

If it can continue to build out financial infrastructure, attract top-tier talent, and enhance international trust, HCMC may soon move beyond being an “international contender” to a recognized regional financial powerhouse.

Vingroup Plans $100 Million Bond Issuance to Restructure Debt, Expands Into Humanoid Robotics

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(Vietnam Insider) – Vietnam’s largest private conglomerate, Vingroup (HoSE: VIC), has announced plans to issue VND 2,500 billion ($100 million) worth of corporate bonds to restructure its debt portfolio, while simultaneously ramping up investments in advanced robotics.

According to a filing with the Hanoi Stock Exchange (HNX), the Board of Directors has approved a private placement of bonds with a face value of VND 100 million each and a maximum tenor of 24 months. The bonds will be non-convertible, non-warranted, and secured by assets of Vingroup and/or third parties. Subscription will be restricted to qualified professional investors in compliance with Vietnamese securities law.

The proceeds will be used specifically to restructure existing debt, signaling Vingroup’s continued efforts to optimize its balance sheet while navigating a period of large-scale investments across multiple industries.

Expansion into Robotics

In a parallel development, Vingroup announced the creation of a new subsidiary, VinDynamics, focused on humanoid robotics. The entity will be incorporated with a charter capital of VND 500 billion ($20 million), of which Vingroup will contribute 51%. Its headquarters will be located at the Symphony Office Building in Vinhomes Riverside, Hanoi.

VinDynamics will specialize in research, development, production, and technology transfer in humanoid robotics. This move expands Vingroup’s ecosystem in high-tech manufacturing, following the establishment of VinRobotics and VinMotion, two subsidiaries launched earlier with charter capital of VND 1,000 billion each.

Both VinRobotics and VinMotion are majority-owned by Vingroup (51%), with Chairman Pham Nhat Vuong directly holding 39%. His two sons, Pham Nhat Quan Anh and Pham Nhat Minh Hoang, each own 5%. Nguyen Mai Hoa, a long-time Vingroup executive, serves as legal representative for both companies, underscoring her growing leadership role in the group’s high-tech initiatives.

Strategic Implications

For investors, the twin announcements highlight Vingroup’s dual strategy: Debt optimization through short-term capital raising to manage its liabilities more efficiently; Diversification into frontier technologies, reinforcing its ambition to be a global player not just in real estate and electric vehicles, but also in next-generation robotics.

This diversification could position Vingroup as a regional leader in advanced manufacturing, with potential synergies across its existing businesses in smart homes, electric mobility (VinFast), and AI-driven solutions.

Vietnamese Entrepreneur Turns Local Rice into Global Whisky Brand

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(Vietnam Insider) – While many young professionals pursue careers in global corporations, one Vietnamese woman has taken a different path: bringing the soul of her homeland to the world through a bottle of whisky distilled from local rice.

Born in Vinh Phuc in 1985, Hoa My built her career working for leading multinational companies, including IBM, Oracle, Facebook, and Google. After years of success in the United States and beyond, she decided to “return to the village” — not just in a physical sense, but in spirit — to transform the humble Vietnamese rice grain into a world-class product.

Her brand, Rượu Làng (Village Whisky), is a unique creation that fuses Vietnamese heritage with international whisky-making techniques. Instead of barley or corn, she uses rice — the very staple that has nurtured generations in Vietnam. The result is a whisky that carries the fragrance, warmth, and authenticity of Vietnamese culture, but presented in a modern, premium form for global consumers.

This bold vision has already received international recognition. At the SIP Awards 2025 in the United States, Rượu Làng’s signature product won Double Gold, placing it alongside some of the world’s finest spirits. Competing against renowned Japanese and Scotch whiskies, a bottle born from Vietnamese rice earned its place on the global stage.

“Like French champagne or Scotch whisky, Vietnam also deserves a signature spirit rooted in our own culture. I want the world to know the taste of our rice not just as food, but as an experience,” Hoa My shared.

@ VILLAGE CHÂTEAU

Her entrepreneurial journey is more than just about building a brand — it’s about telling a story. Every sip of Rượu Làng carries the tale of rural Vietnam: rice fields, village traditions, and the resilience of local farmers. For international audiences, it represents discovery and authenticity; for Vietnamese people, it symbolizes pride and cultural identity.

In building Rượu Làng, Hoa My also contributes to the local economy by sourcing rice directly from farmers and creating sustainable value chains. Her model demonstrates how cultural heritage, when innovatively reimagined, can generate both economic growth and global recognition.

The success of Rượu Làng highlights a broader trend: Vietnamese entrepreneurs are increasingly looking to globalize traditional products, from coffee and tea to fashion and technology. By infusing creativity and modern branding into local culture, they are writing a new chapter for Vietnam’s position in the global marketplace.

For Hoa My, this is just the beginning. “Vietnamese rice whisky deserves to sit on the same shelves as Scotch and Japanese brands,” she said. With global awards now in hand, her vision is quickly becoming reality — proving that even the simplest grain of rice can carry a nation’s story to the world.

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