Vietnam Airlines Signs $1.5 Billion Funding Agreement with ING to Fuel International Expansion

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Vietnam Insider — National carrier Vietnam Airlines (HVN.HM) announced on Wednesday that it has signed a non-binding funding agreement worth up to $1.5 billion with global financial services provider ING. The agreement is aimed at accelerating the airline’s ambitious plans to expand its international flight network.

This strategic move marks a major step forward in Vietnam Airlines’ post-pandemic recovery and growth strategy, as it seeks to strengthen its global presence and respond to rising demand for international travel. The funding, while non-binding at this stage, underscores growing confidence in the airline’s long-term vision.

According to the airline, the capital will be allocated toward modernizing its fleet, opening new international routes, and enhancing overall service quality to meet global aviation standards.

“We are pleased to partner with ING as we take a bold step toward becoming one of the leading carriers in the Asia-Pacific region,” a Vietnam Airlines spokesperson told reporter. “This agreement reflects our commitment to investing in sustainable growth and expanding Vietnam’s connectivity with the world.”

ING’s support aligns with its broader strategy to back companies focused on long-term growth and infrastructure development in emerging markets.

Vietnam Airlines currently operates flights to more than 30 international destinations and has signaled plans to add routes in North America, Europe, and other high-growth regions in the coming years.

The agreement remains subject to final terms and regulatory approvals.

Foreign Affairs TV Channel “Vietnam Today” Expected to Launch on National Day, September 2

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A proposal for the establishment of a national foreign affairs television channel has been developed under the provisional name “Vietnam Today,” with the goal of launching it on Vietnam’s National Day, September 2.

On the afternoon of June 11, General Secretary Tô Lâm held a working session with the Central Commission for Propaganda and Education and the Central Commission for Mass Mobilization to review the implementation of tasks following their recent merger.

During the session, General Secretary Tô Lâm emphasized the urgent need to evaluate the effectiveness and guide the development of communication platforms about Vietnam for international audiences—initially in English and operating 24/7. The aim is to promote the country’s image, deliver official information from Vietnam to other countries, international organizations, and the global public, and assert Vietnam’s increasingly prominent role and position on the world stage.

Reporting on this initiative, Mr. Tống Văn Thanh, Director of the Press and Publishing Department (under the Central Commission for Propaganda and Education and the Central Commission for Mass Mobilization), stated that following the General Secretary’s directive, the head of the commission has held multiple meetings with relevant agencies. As a result, Vietnam Television (VTV) has completed a proposal for the establishment of a national foreign affairs channel of appropriate stature, tentatively named “Vietnam Today,” which is currently being submitted for feedback from competent authorities.

Mr. Tống Văn Thanh added that relevant units are actively working to meet the target of launching the channel on September 2, 2025, to commemorate the 80th anniversary of the founding of the nation.

Breaking News: Air India Plane Crashes During Takeoff at Ahmedabad Airport, Over 100 Onboard

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An Air India passenger aircraft carrying over 100 people crashed during takeoff at Sardar Vallabhbhai Patel International Airport in Ahmedabad on Thursday afternoon, triggering a large-scale emergency response. The flight was en route to Birmingham, according to an aviation source cited by Reuters.

Initial television reports showed harrowing visuals of wreckage engulfed in flames, with thick black smoke billowing into the sky near the runway. Eyewitness footage also captured injured individuals being carried away on stretchers as ambulances and emergency personnel rushed to the scene.

Local reports had earlier suggested the aircraft, identified as Flight AI171, may have been headed to London and was carrying over 240 people. However, updated information indicates there were just over 100 passengers on board at the time of the crash.

The incident took place near the airport boundary in the Meghaninagar area, a densely populated district. Residents reported hearing a loud explosion shortly after the plane began its takeoff roll, followed by a fiery crash. Videos circulating online show burning debris and a heavy emergency presence.

Air India has acknowledged the incident, issuing a brief statement: “Flight AI171, operating Ahmedabad-Birmingham, was involved in an incident today, 12 June 2025. We are currently gathering further details and will provide updates as soon as possible.”

Authorities have not confirmed the number of casualties or the cause of the crash. The Directorate General of Civil Aviation (DGCA) has announced that an investigation will be launched once immediate rescue efforts conclude.

The crash has sent shockwaves across the country, with families of passengers anxiously awaiting news and the city of Ahmedabad reeling from the tragic event.

This story is developing. Further updates will follow.

Apple Unveils New AI Features

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At its Worldwide Developers Conference (WWDC) 2025 held on June 9 in the U.S., Apple announced a suite of powerful AI tools under its new framework, Apple Intelligence. These features are set to redefine how users communicate and interact with their devices, and notably, Vietnamese language support is expected to roll out by the end of this year.

Apple Intelligence to Support Vietnamese Language

Apple Intelligence will expand to support eight new languages, including Vietnamese, by late 2025. Other languages include Danish, Dutch, Norwegian, Portuguese, Swedish, Turkish, and Traditional Chinese. Currently, these features are available for developers, while end-users can expect access beginning this fall.

Live Translation: Breaking Language Barriers

Among the most anticipated features is Live Translation, which allows users to seamlessly communicate across languages. Unlike Google’s voice translation for Google Meet, Apple’s system integrates across Messages, Phone calls, and FaceTime.

In Messages, users can type in their preferred language, and the message will be automatically translated before being sent or received.

In FaceTime, real-time subtitles appear on screen as the conversation unfolds.

During regular phone calls, the translated speech is read aloud live.

Initially, this feature will support English, French, German, Portuguese, and Spanish for 1-on-1 conversations, and will debut on iPhones, with no confirmation yet for other devices.

Visual Intelligence for Instant Information

Apple Intelligence also enhances how users interact with visual content. When browsing the web or social media, users often screenshot items they want to explore further. Now, with built-in visual intelligence, Apple devices can instantly analyze screenshots:

  • Recognize objects in the image
  • Provide contextual information or connect to ChatGPT for more insights
  • Detect important data (e.g., dates, events) and automatically sync it with the Calendar app
AI-Powered Image and Emoji Generation

Apple has upgraded its creative tools, including Genmoji and Image Playground:

  • Users can now generate emojis by combining existing ones or by using text prompts.
  • Personalization is enhanced—users can customize expressions, hair styles, and features to reflect friends and family.
  • Image Playground enables the creation of AI-generated images in various styles, akin to capabilities seen in ChatGPT.
Workout Buddy: AI-Powered Fitness on Apple Watch

Fitness training gets a boost with Workout Buddy, a new AI-powered personal coaching feature available on Apple Watch Series 6 and later (with headphones required). The assistant uses users’ workout history and health data to deliver personalized, real-time voice guidance—acting like a virtual trainer.

Apple Opens AI Platform for Developers

In a major move, Apple also announced that third-party apps will be granted access to its on-device AI models. Developers can now build features directly on top of Apple Intelligence, offering users new AI experiences—even offline, without needing an internet connection.

A Growing AI Ecosystem

Since its debut last year, Apple Intelligence has steadily evolved. Previously announced features include writing assistants, smart photo cleanup, audio transcription, email summarization, and notification prioritization. However, many of these are not yet available in Vietnam. With upcoming Vietnamese language support, users in the country can soon access a fuller range of Apple’s AI capabilities.

Vietnam’s National Assembly Approves Major Administrative Reform, Reducing Number of Provinces to 34

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HANOI, June 12 – Vietnam’s National Assembly on Wednesday approved a landmark resolution to restructure its provincial administrative system, reducing the number of provinces and centrally-run cities from 63 to just 34 starting in 2025.

The resolution takes effect immediately and outlines the merging of several existing provinces into larger administrative units. The move aims to streamline governance, improve resource management, and enhance regional development.

Key Mergers and New Administrative Units:
  • Tuyên Quang will absorb Hà Giang, forming a province of 13,800 km² with 1.86 million people, bordering China and five other northern provinces.
  • Lào Cai will merge with Yên Bái, creating a province of 13,256 km² and 1.78 million people.
  • Thái Nguyên will absorb Bắc Kạn, expanding to 8,375 km² with 1.8 million residents.
  • Phú Thọ will merge with Hòa Bình and Vĩnh Phúc, forming a province of 9,361 km² and 4.02 million people.
  • Bắc Ninh will combine with Bắc Giang, forming a 4,718 km² province with a population of 3.6 million.
  • Hưng Yên will absorb Thái Bình, creating a 2,514 km² province with 3.56 million residents.
  • Hải Phòng City will incorporate Hải Dương Province, expanding into a centrally-governed city with 4.66 million residents across 3,194 km².
  • Ninh Bình will absorb Hà Nam and Nam Định, forming a province of 3,942 km² and 4.4 million people.
  • Quảng Trị will merge with Quảng Bình, resulting in a 12,700 km² province with 1.87 million people.
  • Đà Nẵng City will absorb Quảng Nam Province, expanding into a centrally-run city of 11,859 km² and 3.06 million residents.
  • Quảng Ngãi will absorb Kon Tum, forming a 14,832 km² province with 2.1 million people.
  • Gia Lai will merge with Bình Định, creating a province of 21,576 km² and 3.58 million people.
  • Khánh Hòa will absorb Ninh Thuận, becoming a province of 8,555 km² and 2.2 million people.
  • Lâm Đồng will merge with Đắk Nông and Bình Thuận, forming a vast 24,233 km² province with a population of 3.87 million.
  • Đắk Lắk will absorb Phú Yên, creating a province of 18,096 km² and 3.34 million residents.
  • Ho Chi Minh City (HCMC) will merge with Bình Dương and Bà Rịa – Vũng Tàu, forming a mega-city of 6,772 km² and 14 million people.
  • Đồng Nai will absorb Bình Phước, forming a 12,737 km² province with 4.5 million people.
  • Tây Ninh will merge with Long An, creating a province of 8,536 km² with 3.25 million residents.
  • Cần Thơ City will absorb Hậu Giang and Sóc Trăng, expanding into a city of 6,360 km² with 4.2 million people.
  • Vĩnh Long will be formed by merging Bến Tre, Trà Vinh, and Vĩnh Long, with a total area of 6,296 km² and a population of 4.26 million.
  • Đồng Tháp will absorb Tiền Giang, creating a 5,938 km² province with 4.37 million people.
  • Cà Mau will merge with Bạc Liêu, forming a 7,942 km² province with 2.6 million residents.
  • An Giang will absorb Kiên Giang, creating a province of 9,888 km² with 4.95 million people.
  • Provinces Remaining Unchanged: Eleven provinces and cities will not undergo changes: Cao Bằng, Điện Biên, Hà Tĩnh, Lai Châu, Lạng Sơn, Nghệ An, Quảng Ninh, Thanh Hóa, Sơn La, Hà Nội, and Huế.

Final Administrative Structure: Vietnam will now have 28 provinces and 6 centrally-governed cities, with 19 provinces and 4 cities newly formedthrough the mergers.

Implementation and Mapping:

The National Assembly has directed the government to accurately determine and publicize new administrative boundaries. If discrepancies arise between mapped areas and the figures in the resolution, the government is tasked with revising and publicly updating the data.

This sweeping reform marks one of the most significant administrative restructurings in Vietnam’s recent history and is expected to have major implications for governance, infrastructure planning, and regional development.

Qantas to Shut Down Singapore-Based Jetstar Asia by July 31

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Vietnam Insider – Australian airline Qantas announced on Wednesday (June 11) that it will shut down Jetstar Asia, its Singapore-based low-cost subsidiary, by July 31. The decision comes amid rising supplier costs, increased airport charges, and intensifying competition in the Southeast Asian budget airline market.

The closure will unlock AU$500 million (US$326.4 million) in capital, which Qantas plans to reinvest into its ambitious fleet renewal program.

Qantas confirmed that the 13 Airbus A320 aircraft currently operated by Jetstar Asia will be gradually redeployed to Australia and New Zealand.

According to CNN, Jetstar Asia has been heavily impacted by soaring supplier costs, higher airport fees, and escalating competition in the region, making it difficult for the carrier to achieve profit margins comparable to Qantas’ core markets.

Group CEO Vanessa Hudson noted that some supplier costs had surged by as much as 200%, significantly altering the airline’s cost structure. “We are currently undertaking the most ambitious fleet renewal in our history, with nearly 200 firm aircraft orders and hundreds of millions of dollars being invested in our existing fleet,” Hudson said.

Jetstar Asia has faced mounting pressure from major low-cost carriers in the region, such as AirAsia (Capital A) and Scoot (a subsidiary of Singapore Airlines).

Launched over two decades ago, Jetstar Asia was established to tap into the rapidly growing demand for low-cost air travel across Asia. However, the airline is now expected to report an underlying EBIT (earnings before interest and taxes) loss of AU$35 million for the current fiscal year.

Jetstar Asia will cease operations on July 31, with flights continuing as scheduled over the next seven weeks as the airline winds down its services.

Dragon Capital: Vietnam’s Market Upgrade Could Trigger a Wave of Major IPOs

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Vietnam may see billions in foreign capital and a flurry of high-profile listings if upgraded to emerging market status, Dragon Capital says.

In a recent report, Dragon Capital highlighted that Vietnam’s stock market could be upgraded by FTSE Russell as early as September 2025, with the change potentially taking effect in March 2026. The upgrade would not only unlock billions of dollars in foreign capital inflows but also pave the way for a surge in initial public offerings (IPOs) — an often-overlooked benefit of achieving emerging market status.

Regulatory Reforms Pave the Way

Dragon Capital pointed to strong signals of progress driven by Vietnam’s regulatory reforms. A key breakthrough is the elimination of the pre-funding requirement for foreign institutional investors, addressing a long-standing bottleneck.

Additionally, the KRX trading platform, launched in May 2024, aims to enhance trading speed and settlement reliability. The State Securities Commission (SSC) has also worked closely with brokerages to standardize market operations, implement a new definition of investor identification, and introduce digital documentation protocols, custodial member roles, and fractional share management.

Other ongoing initiatives include: Electronic communication platforms between brokerages and custodian banks; A consolidated account framework to simplify foreign investor transactions; Enhanced trade allocation procedures; And a central counterparty clearing (CCP) system expected by 2026.

IPO Boom on the Horizon

Beyond the influx of foreign funds, Dragon Capital emphasized a key benefit of market reclassification: a significant boost to IPO activity. When markets are upgraded to emerging status, they typically see a surge in listings as both governments and private companies look to capitalize on greater investor appetite and stronger valuations.

“An upgrade often leads to higher valuations and stronger demand, prompting company owners to view it as an ideal time to go public,” Dragon Capital noted.
In Vietnam’s case, the upgrade could encourage local unicorns and major state-owned enterprises (SOEs) to launch IPOs, capitalizing on demand from foreign investors previously restricted from frontier markets.

The government’s privatization agenda could also gain momentum, with stakes in SOEs sold via public markets. Meanwhile, large private-sector players—particularly in tech and retail—may consider IPOs to fund expansion, reassured by the increased capacity of the upgraded market to absorb large deals.

Enhanced Global Visibility and Capital Access

Being classified as an emerging market also brings greater credibility and visibility. Companies listed in such markets automatically draw attention from global institutional investors and emerging market funds, many of which are restricted from investing in frontier markets.

This shift could attract international investment banks to underwrite deals in Vietnam, elevating the quality and scale of IPOs. Vietnam has seen relatively few major IPOs in recent years, but that may change soon.

“Several blockbuster IPOs have been on hold, awaiting improved conditions,” Dragon Capital noted. “An upgrade could unlock these opportunities.”
Recent activity already hints at renewed momentum: Vinpearl listed in May, while TCBS and F88 are preparing to go public. Further ahead, IPOs could emerge from big names like THACO AUTO, Bach Hoa Xanh, Golden Gate, Highlands Coffee, VPS, Viettel IDC, Misa, VNPay, and Long Chau.

According to Dragon Capital, Vietnam could see up to $47 billion in IPO activity over the next three years.

Market Depth and Policy Support

A deeper and more diverse market — with more large-cap listings in key sectors — would help maintain or increase Vietnam’s weight in emerging market indices. To support this, policymakers may actively promote IPOs from major state banks, telecoms, and corporate subsidiaries.

Vietnam has set an ambitious target to raise its market capitalization to 100% of GDP by 2025. Dragon Capital believes that achieving this will require both market appreciation and a wave of new listings — and that an upgrade could serve as the catalyst.

“While a market upgrade doesn’t guarantee a wave of IPOs, it creates the right conditions — higher demand, better valuations, and greater investor confidence,” the report concluded.
“We should expect regulators to leverage this opportunity to accelerate Vietnam’s listing pipeline.”

Tourist’s Handbag Snatched Through Car Window in Da Nang

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Vietnam Insider — An 18-year-old man on a motorbike brazenly snatched a tourist’s handbag through the open window of a moving car along the popular coastal road in Da Nang, according to local authorities.

The suspect, Lê Ngọc Sử, a resident of Hue, was arrested on June 11 by Da Nang police for investigation into multiple street thefts.

At around 12:15 a.m. on June 5, Sử reportedly drove his motorbike up close to a car traveling along Võ Nguyên Giáp Street in Sơn Trà District. Spotting an open window, he reached into the vehicle and grabbed a handbag belonging to a 25-year-old female tourist from Hanoi. The bag contained a pair of Apple AirPods and VND 2 million (approx. USD 80).

After speeding away into the night, Sử struck again less than an hour later. This time, he snatched a smartphone from a 17-year-old girl from Quảng Nam who was standing on the sidewalk along the same street.

Both robberies occurred in the early hours of the morning, in relatively deserted areas, making it difficult for authorities to quickly identify the suspect. Witnesses could only describe him as a young man wearing a white T-shirt, riding a Yamaha Exciter motorbike.

Police spent several days reviewing surveillance footage from multiple streets before finally identifying and apprehending Sử on June 10.

During questioning, he confessed to both thefts. Authorities also revealed that he had previously been sent to a juvenile reform school for a similar offense.

As Da Nang continues to welcome tourists from across Vietnam and abroad, the incidents serve as a reminder to remain vigilant, especially during late-night hours.

Storm Wutip Brings Heavy Rain Warnings for Central Vietnam

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Vietnam Insider — A tropical depression in the East Sea has intensified into Storm Wutip, expected to bring prolonged heavy rainfall to central and south-central regions of Vietnam over the coming days, though it is not forecast to make landfall.

As of Wednesday morning, Wutip was located east of the Hoang Sa (Paracel) Islands, with sustained winds of 74 km/h, moving northwest at 5–10 km/h, according to Vietnam’s National Center for Hydro-Meteorological Forecasting. The storm is expected to strengthen through Friday, with winds reaching up to 102 km/h as it passes south of Hainan Island, China, before gradually weakening over the weekend.

Despite remaining offshore, Wutip will bring significant rainfall to Vietnam: Wednesday: South-central provinces may receive 30–80 mm of rain, with localized areas exceeding 150 mm. Wednesday night to Friday: From Quang Binh to Quang Ngai, rainfall is expected to reach 100–300 mm, with isolated totals of over 450 mm. Northern Central Highlands could receive 70–150 mm, with some areas experiencing more than 200 mm within six hours.

Strong winds and rough seas are forecast in offshore areas, especially near the Hoang Sa archipelago, the Gulf of Tonkin, and coastal provinces from Quang Tri to Quang Ngai, with gusts reaching 102 km/h and waves up to 5 metershigh.

Vietnamese authorities have issued an urgent directive to coastal and mountainous provinces, warning of possible flash floods and landslides. Local governments have been instructed to strengthen early warning systems, inspect high-risk areas, and prepare emergency response teams.

This is Vietnam’s second tropical depression in 2025, following one in February that did not become a storm. In 2024, the country experienced 10 storms, with five directly affecting the mainland. Meteorologists expect up to five storms or depressions to form in the East Sea by August 2025, with two potentially impacting Vietnam.

Foreign residents and travelers in Vietnam are advised to stay informed through official weather updates, follow local advisories, and avoid non-essential travel in affected regions.

Foreign Livestock Giant Ranks Third in Vietnam’s Breeding Market, Reports $876 Million in Revenue for 2024

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Vietnam Insider – Japfa, a leading livestock conglomerate headquartered in Indonesia, has reinforced its position in Vietnam’s agricultural sector with remarkable performance in 2024. The company generated VND 22.63 trillion (USD 876.1 million) in revenue—accounting for nearly one-fifth of its global results—and sold over 125,100 tons of pork, according to Japfa’s latest annual report and AgroMonitor data released in June 2025.

This performance marks a 7.5% year-on-year increase from USD 814.8 million in 2023. Japfa Vietnam also reported a major turnaround, swinging from an operating loss of USD 26.5 million in 2023 to a healthy operating profit of USD 82.9 million in 2024. The group’s global revenue stood at USD 4.62 billion, with an operating profit of USD 410 million.

With a current breeding stock of 69,000 sows, Japfa ranks as the third-largest foreign livestock company in Vietnam, behind C.P. Vietnam (Thailand) with 350,000 sows and CJ (South Korea) with 137,000 sows.

Strategic Investment and Growth in Vietnam

Japfa celebrates 29 years of operations in Vietnam in 2025, having invested over USD 250 million into its Vietnamese operations. The company’s footprint includes 7 feed mills for poultry and swine, 1 aquaculture feed plant, 60 breeding and hatching farms, and over 1,500 owned or contract-fattening farms across the country. Japfa currently employs approximately 6,000 people in Vietnam.

In May 2023, Japfa inaugurated a new feed mill and poultry slaughterhouse in Binh Phuoc Province as part of its continued investment. The feed mill’s first phase has a capacity of 240,000 tons/year, with plans to double to 480,000 tons/year in phase two. The adjacent poultry slaughterhouse spans nearly 15 hectares and can process up to 60,000 birds per day, with an investment of over VND 400 billion.

Operational Excellence and Environmental Responsibility

In line with its environmental commitment, Japfa Vietnam conducted a comprehensive review in 2023 and decided to shut down 9 farms located too close to residential areas or facing unresolvable environmental compliance issues.

The company’s improvement in profitability has been attributed to a combination of higher pork prices due to reduced supply caused by African Swine Fever (ASF), and lower feed material costs, which typically account for up to 70% of livestock production expenses. Japfa also cited cost optimization initiatives, improved farm operations, and stricter control mechanisms as key contributors to its performance boost.

Positive Industry Outlook

Commenting on Japfa’s continued success in Vietnam, Sophie Dao, Lawyer and Senior Partner at GBS – Global Business Services LLC, remarked: “Japfa’s strong financial performance and long-term investment in Vietnam’s livestock sector are testaments to the country’s appeal as a strategic market for global agribusiness. Their commitment to innovation, sustainability, and operational excellence not only benefits consumers but also contributes positively to Vietnam’s agricultural modernization.”

As Vietnam continues to evolve as a hub for agri-food production in Southeast Asia, Japfa’s achievements highlight the growing importance of sustainable, large-scale farming operations and the crucial role foreign investors play in the sector’s transformation.

U.S. Companies Urge Washington to Lower Tariffs on Vietnam – Here’s Why

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Major American corporations including Apple, Intel, and Nike are pressing the U.S. government to lower tariffs on Vietnamese imports, emphasizing Vietnam’s critical role in their global supply chain diversification strategies.

In a letter addressed to both U.S. and Vietnamese officials, obtained by the Financial Times, the American Chamber of Commerce in Hanoi warned that high tariffs could undermine U.S. strategic interests in Southeast Asia. The letter follows the Trump administration’s imposition of a 46% tariff rate on Vietnamese goods in April — one of the highest after China — although the measure has been temporarily suspended pending ongoing trade negotiations.

“Vietnam has emerged as a key partner for the U.S. in supply chain diversification,” the Chamber stated. “We urge the U.S. government to view this trade deficit as a sign of success in President Trump’s first-term efforts to diversify supply chains within the Indo-Pacific region.”

The Chamber further cautioned that tariffs remain a “critical issue” for American businesses operating in Vietnam, noting that higher duties would adversely impact companies, consumers, and the broader bilateral trade relationship.

Vietnam’s importance in global supply chains continues to grow. The country now produces nearly half of Nike’s global footwear output, prompting the company to consider price increases due to tariff risks. Meanwhile, Apple is expected to manufacture two-thirds of its AirPods in Vietnam by the end of this year.

These lobbying efforts are intensifying as countries seek to finalize agreements with Washington before the 90-day tariff suspension window closes on July 9. The third round of U.S.-Vietnam negotiations is scheduled for mid-June.

On June 4, a ministerial-level negotiation took place in Paris between Vietnam’s Minister of Industry and Trade Nguyen Hong Dien, head of the government negotiation team, and Jamieson Greer, the U.S. Chief Trade Representative. Minister Dien reiterated Vietnam’s goodwill and determination to reach a mutual understanding with the U.S., presenting Vietnam’s formal responses to supplemental concerns raised by Washington.

Greer praised Vietnam’s constructive approach and reaffirmed that Vietnam, as a comprehensive strategic partner of the U.S., plays a crucial role in achieving a fair and timely bilateral agreement on reciprocal tariff policies. He also offered practical solutions to address complex issues in the negotiation process.

Both ministers agreed on the urgency of accelerating negotiations and pledged to make substantial progress in the upcoming technical round.

Legal Insight: Comment from Sophie Dao, Senior Partner at GBS

“The current U.S.-Vietnam trade dialogue is a litmus test for how strategic partnerships can influence trade policy in an increasingly multipolar world,” said Sophie Dao, Lawyer and Senior Partner at GBS, a leading legal and business consultancy in Vietnam. “Reducing tariffs will not only ease the burden on U.S. multinationals but also enhance Vietnam’s position as a reliable hub for global manufacturing and high-tech assembly.”

Dao added: “For foreign investors, this is a strong signal that Vietnam’s economic diplomacy is maturing. Businesses should view this as an opportunity to align their regional strategies with Vietnam’s upward trajectory in global trade.”

TCBS becomes Vietnam’s largest securities firm by charter capital after raising VND 1.4 trillion in private share sale

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Hanoi, June 11 – Techcom Securities JSC (TCBS), a subsidiary of Techcombank, has successfully completed a private placement of nearly 119 million shares, raising close to VND 1.4 trillion (approx. USD 55 million). The offering was priced at VND 11,585 per share and attracted 25 professional investors, including Chairman Nguyen Xuan Minh, who alone acquired over 106 million shares. Following the transaction, Mr. Minh’s stake increased to more than 168 million shares, equivalent to 8.09% of TCBS’s charter capital.

The offering was highly selective, aimed at top-level executives, key personnel with strategic value, and long-term partners who have made significant contributions to the company. Eligible employees were also required to have received a minimum A2 performance rating in the assessment year. Strategic investors and key partners were nominated by the Board Chairman.

According to TCBS, the share sale aimed to recognize and retain valuable management personnel, employees, and strategic partners.

Of the nearly VND 1.4 trillion raised, TCBS plans to allocate around VND 895 billion for proprietary trading in stocks and bonds, capitalizing on favorable market valuations to maintain high returns. Another VND 482 billion will be directed toward expanding brokerage services, margin lending, and settlement financing.

All shares issued in this private placement will be subject to a one-year lock-up period. Upon completion of the transaction, TCBS’s charter capital has increased from approximately VND 19.6 trillion to nearly VND 20.8 trillion, making it the securities firm with the highest charter capital in Vietnam. TCBS also leads the industry in shareholder equity.

As of Q1 2025, TCBS reported total outstanding margin loans and cash advances of about VND 30.5 trillion—also the highest among Vietnamese securities companies.

For 2025, TCBS has set ambitious business targets: revenue is projected to grow 22% to VND 9.3 trillion, while pre-tax profit is expected to rise 20% to VND 5.77 trillion. In the first quarter alone, TCBS recorded pre-tax profit of approximately VND 1.31 trillion, fulfilling 23% of its full-year profit target.

In a related development, Mr. Ho Hung Anh, Chairman of Techcombank, recently confirmed that TCBS is preparing for an initial public offering (IPO) by the end of 2025. The company is reportedly in talks with one to two major institutional investors. However, the IPO timeline remains dependent on broader financial market conditions and Vietnam’s progress in upgrading its stock market classification.

Thai Conglomerate SCG Completes Full Acquisition of Leading Vietnamese Plastics Brand

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Thailand’s SCG Packaging Public Company Limited (SCGP), a subsidiary of the industrial giant SCG Group, has officially acquired 100% ownership of Duy Tân Plastics Manufacturing Corporation, one of Vietnam’s top rigid plastic packaging manufacturers.

The final 30% stake was purchased through SCGP Rigid Packaging Solutions Pte. Ltd. (SCGPRPS), a wholly owned subsidiary of SCGP, according to an official filing with the Stock Exchange of Thailand (SET) on June 9. The value of the latest transaction is VND 2,825 billion, bringing the total valuation of Duy Tân Plastics to over VND 9,400 billion.

Related: M&A consulting services in Vietnam

Previously, in February 2021, SCGP acquired a 70% stake in Duy Tân for VND 6,400 billion. With this most recent deal, SCGP now fully owns Duy Tân, marking a significant milestone in its long-term expansion strategy in Vietnam.

Strategic Investment in High-Quality, High-Margin Products

Duy Tân is recognized as a market leader in rigid plastic packaging, known for its premium-quality branded products and high-profit margins. SCGP emphasized that full ownership will enable the company to further integrate its packaging solutions, improve operational efficiency, and better serve the growing Vietnamese market.

Despite the high-profile nature of the deal, SCGP noted that the acquisition accounts for only 1.98% of its total consolidated assets as of March 31, 2025.

In 2024, Duy Tân Plastics recorded Revenue: VND 5,381 billion. Net Profit After Tax: VND 578 billion. Total Assets: VND 4,627 billion

Founder Trần Duy Hy has retained ownership of the recycled plastics segment, including two subsidiaries – Duy Tân Recycling Plastics and Plascene, along with 18 other affiliated companies.

SCG’s Growing Footprint in Vietnam

SCG has been operating in Vietnam since 1992, and has actively pursued an M&A-driven strategy to expand its local presence. Today, SCG operates 27 subsidiaries in Vietnam, employing over 16,000 staff and offering a diverse range of premium products and services.

Its notable investments include 55% stake in Binh Minh Plastics via The Nawaplastic Industries (Saraburi) Co., Ltd. Acquisition of 80% of Tin Thanh Plastic Packaging JSC (Batico) in 2015. 94.11% of Bien Hoa Packaging (Sovi) through SCG Solutions Pte. Ltd. in 2020. 70% of Starprint Vietnam in late 2023 for VND 676.8 billion (approx. USD 27.8 million). 100% of StarCement (VCM) – owner of Song Gianh Cement Plant – for USD 156 million in 2017

Vietnam – SCG’s Second Largest Market

In SCG’s Q1 2025 financial report, the group announced global revenue of THB 124.4 billion, a 0.1% year-over-year increase but down 5% from Q4 2024. Thailand remains SCG’s largest market, contributing THB 70.1 billion (56%), followed by Vietnam at 8%, equivalent to approximately THB 9.95 billion (over VND 6,800 billion). Other key markets include Indonesia (7%), China (4%), and Cambodia (2%).

SCG’s aggressive investment strategy highlights Vietnam’s growing significance as a core market in its regional expansion plans.

Mekolor: “We Are Not Bluffing” About $100 Billion Investment Proposal

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“We’re ready to prove we have $100 billion in hand. The funds will be disbursed continuously to ensure the project’s implementation,” said Mr. Vo Xuan Truong, Chairman of Mekolor Joint Stock Company, during a press briefing with Vietnamese media on June 9.

“Some may accuse me of bluffing or claiming phantom capital, but I speak as a representative of an alliance involving a U.S. entity and am bound by international law. This is not the kind of statement one makes lightly. Bluffing at a national level could easily land someone in legal trouble,” Mr. Truong added.

Mr. Truong’s Mekolor alliance, in cooperation with U.S.-based company Great USA, recently submitted an official proposal to Prime Minister Pham Minh Chinh, seeking to invest in the North-South High-Speed Railway Project.

According to the proposal, the investment would be made directly using the alliance’s own capital—specifically, $100 billion in cash.

The statement came amid reports from Vietnamese media showing Mekolor’s registered headquarters on Ly Tu Trong Street in Ninh Kieu District, Can Tho City, appearing shuttered and locked. Photos depicted what looked like a typical residential property. “Several locals living nearby said they had never heard of Mekolor Joint Stock Company,” local outlets noted.

Further scrutiny revealed that Mekolor has a registered charter capital of just VND 1 billion (approximately $39,000).

Despite skepticism, the Mekolor–Great USA alliance claims it can complete the high-speed rail project within five years of receiving the green light from the government. It also proposes a 49-year investment recovery period.

The alliance promises transparent fare pricing regulated jointly with the state, independently audited financials, and even offers free tickets for all passengers during the first six months of operation.

Mekolor is registered in Vietnam as a joint stock company specializing in trade promotion and business matchmaking.

Little information has been released about Great USA. A website of the same name describes it as a U.S. firm involved in commercial evaluation and business consulting.

Previously, Vietnamese conglomerates Vingroup’s VinSpeed (founded by billionaire Pham Nhat Vuong) and Thaco (Truong Hai Auto Corporation) also submitted proposals to invest in the same railway project.

VinSpeed committed to delivering the project within five years, contingent on partial state funding, interest rate support, and land use rights along the rail corridor. Thaco proposed a seven-year completion timeline, seeking government guarantees for loans and interest subsidies over a 30-year term.

Vietjet offers 0 VND tickets for international travelers to celebrate increased flights between Ho Chi Minh City and Hong Kong

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In an exciting move to boost travel and tourism between Vietnam and Hong Kong, Vietjet has announced a major promotion featuring thousands of 0 VND airline tickets (excluding taxes and fees) for international travelers — including readers of Vietnam Insider.

Starting June 26, 2025, Vietjet will officially double its round-trip flights between Ho Chi Minh City and Hong Kong, increasing frequency to 14 flights per week. To mark this expansion, the airline is launching a “Golden Week” promotion, offering zero-fare tickets across all routes connecting Vietnam and Hong Kong.

How to Claim the Free Tickets:

  • Booking window: From 12:00 PM (GMT+7) on June 9 to 11:00 PM on June 15, 2025
  • Travel period: From August 11, 2025 to March 28, 2026
  • Where to book: http://www.vietjetair.com or Vietjet Air mobile app

Note: Taxes and fees apply. Terms and conditions follow Vietjet’s promotional policy.

As part of this initiative, Vietjet will also participate in the ITE Hong Kong 2025 – International Travel Expo, held from June 12 to 15, 2025 at booth M119. Attendees can meet Vietjet representatives, explore Vietnam’s top destinations, and receive exclusive promotional codes for up to 100% off airfare (excluding taxes and fees), along with attractive giveaways.

This offer is an excellent opportunity for international travelers to experience Vietjet’s expanding network and explore Vietnam’s vibrant culture, beautiful landscapes, and dynamic cities.

Don’t miss out on this chance to fly for free and discover Asia with Vietjet!

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