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Is Vietnam on Track to Become One of the World’s 25 Largest Economies

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Vietnam is laying the groundwork to become one of the 25 largest economies in the world by 2039, according to a new forecast by the UK-based Centre for Economics and Business Research (CEBR).

This ambition aligns with the country’s bold reform agenda aimed at transforming its private sector into a dynamic engine of growth, innovation, and global competitiveness.

A Vision Rooted in Reform: Resolution 68

At the heart of Vietnam’s economic trajectory is Resolution 68, a national strategy that underscores the critical role of the private sector. Michael Kokalari, Chief Economist at VinaCapital, notes that this policy aims to cultivate a high-quality, fast-growing, and globally competitive private economy.

The resolution emphasizes three core priorities:

Strategic incentives for private sector development, especially nurturing large private conglomerates capable of integrating into global value chains.
Level playing field between private enterprises and state-owned companies, fostering healthy competition.
Accelerated equitization and restructuring of state-owned enterprises to expand the influence of the private sector.

By 2030, the Vietnamese government targets the development of at least 20 major private enterprises with global competitiveness, contributing to industrialization and technological leadership.

Breaking Barriers to Private Sector Growth

Despite its enormous potential, Vietnam’s private sector continues to face persistent obstacles: limited access to capital, bureaucratic red tape, and low digital adoption. Resolution 68 addresses these bottlenecks with a comprehensive reform package, aiming to:

Reduce business procedures, costs, and time by 30%
Shift from pre-approval controls to a post-audit regulatory model
Simplify licensing and compliance frameworks

These steps are designed to liberate the entrepreneurial spirit of Vietnam’s small and medium-sized enterprises (SMEs), paving the way for innovation, job creation, and sustained economic expansion.

A Booming Economy with Global Potential

Vietnam’s economy is already on a strong growth trajectory. According to the World Bank, GDP is projected to grow by 6.8% in 2025 and 6.5% in 2026. Public investment in infrastructure—including urban development, transportation, and energy—is expected to be a key driver of this growth.

The International Monetary Fund (IMF) projects that Vietnam’s GDP will rise to $491 billion by 2025, ranking 34th globally. By 2029, that figure is forecast to climb to $627 billion, surpassing Thailand to become the fourth largest economy in Southeast Asia.

By 2039, CEBR estimates Vietnam’s GDP could reach $1.41 trillion, placing the country at 25th globally, ahead of major ASEAN economies such as Thailand, Malaysia, and Singapore.

The Role of Financial Innovation

Vietnam’s central bank is also playing a crucial role in this transformation. According to Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam in Ho Chi Minh City, financial leasing is emerging as a powerful tool to provide capital to SMEs seeking to modernize equipment and processes.

As of April 2025, financial leasing debt had reached over VND 30.8 trillion ($1.2 billion) in Ho Chi Minh City alone, with more than 95% allocated to equipment and technology upgrades.

Resolution 68 also promotes three breakthroughs in credit access for private firms:

Innovative lending models tailored for SMEs
Standardization and digitization of financial data
Development of non-traditional capital channels

The success of these efforts hinges on strong collaboration between businesses and lenders. Transparent data, responsible governance, and digital tools will allow credit institutions to assess borrowers more effectively, reduce risk, and support the private sector’s expansion.

A Roadmap to High-Income Status

Vietnam has set a long-term goal of becoming a high-income country by 2045, which will require sustained annual per capita growth of at least 5%. However, achieving this in the face of global trade disruptions, automation, and demographic shifts will require strategic policy execution, especially in areas vulnerable to climate change and technological disruption.

If current reforms continue, Vietnam is well-positioned to rise as an economic powerhouse, not just in Southeast Asia, but globally.

For more insights into Vietnam’s economic development and business opportunities, stay tuned to Vietnam Insider.

Scorching Heatwave in Northern Vietnam Sends Multiple to Hospital, One in Critical Condition

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As northern Vietnam battles through one of its most intense heatwaves in years, hospitals are reporting a surge in emergency admissions linked to heatstroke and related complications. In Phú Thọ province alone, seven people were rushed to the hospital in a single day—one of them in critical condition.

According to Dr. Nguyễn Thanh Thủy, Deputy Head of Emergency at Cẩm Khê Medical Center, all seven patients were outdoor agricultural workers exposed to prolonged extreme heat. They were admitted on June 1 after suffering from heat exhaustion and sunstroke. Many arrived with severe fatigue, muscle cramps, and involuntary spasms in their limbs.

“This is the first time we’ve had so many heatstroke cases in one day,” Dr. Thủy noted.

The most serious case involved a 65-year-old woman who had worked in the fields from 9 a.m. until she collapsed around 11 a.m. She was found unconscious, with a high fever of 39.5°C (103.1°F), shallow breathing, rapid heart rate, and dangerously low blood pressure (80/50 mmHg). Upon arrival at the emergency room, she was in a coma with impaired reflexes.

Doctors immediately intubated her, placed her on mechanical ventilation, and began cooling and fluid replacement therapy. After five hours of intensive care, her vital signs stabilized and she was transferred to a higher-level hospital for continued treatment.

The remaining six patients were treated with electrolyte replacement, rehydration, and body cooling. Most are now in stable condition and under observation.

Extreme Heat Grips Northern Vietnam

Temperatures in provinces such as Hanoi, Phú Thọ, Bắc Ninh, Bắc Giang, and Hòa Bình have surged above 40°C (104°F) in recent days. With humidity levels plummeting to 40–45% and little wind, conditions have become oppressive, particularly in the afternoons as heat radiates from concrete and asphalt surfaces.

Meteorologists warn that more heatwaves are likely in June, with average temperatures in northern Vietnam expected to be 0.5–1°C higher than seasonal norms.

Health Risks and Safety Precautions

Prolonged exposure to high temperatures can lead to dehydration, electrolyte imbalances, cardiovascular collapse, and in severe cases, multi-organ failure. According to medical experts, once body temperature rises too high, critical systems such as the heart, lungs, and nervous system begin to malfunction—potentially fatally.

To prevent heat-related illnesses, health authorities urge the public to:

Avoid extended outdoor activity, especially under direct sunlight
Stay hydrated, even when not thirsty
Wear protective gear such as wide-brimmed hats, sunglasses, and breathable clothing
Take frequent breaks in shaded or cool areas
Ventilate workspaces, especially in factories, workshops, and underground facilities

What Foreign Residents and Travelers Should Know

Foreigners living in or traveling to northern Vietnam should take extra precautions during this heatwave. Those engaging in outdoor tourism, cycling, or fieldwork are especially vulnerable. Keep an eye on local weather updates, avoid peak heat hours (10 a.m. – 4 p.m.), and seek medical attention immediately if experiencing signs of heatstroke: dizziness, confusion, nausea, muscle cramps, or fainting.

Stay Safe, Stay Cool

As Vietnam braces for more extreme weather, awareness and prevention are key to staying healthy. Whether you’re a resident or a visitor, taking the heat seriously can save lives.

Vietnam continues to see the United States as one of its most important foreign policy partners

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That was what Defence Minister Phan Van Giang affirmed during a high-level meeting with U.S. Defence Secretary Pete Hegseth on the sidelines of the 22nd Shangri-La Dialogue in Singapore.

In a candid exchange between the two defence leaders, General Giang underscored Vietnam’s commitment to deepening bilateral ties based on equality, mutual benefit, and respect for sovereignty and international law. He expressed optimism that enhanced U.S.–Vietnam cooperation would support regional and global peace, stability, and sustainable development.

“The Ministry of National Defence stands ready to implement the Vietnam–U.S. Comprehensive Strategic Partnership, especially in the areas of defence and security,” said General Giang.

Defence Collaboration and Forward Momentum

According to Giang, bilateral defence cooperation has yielded tangible progress, including:

High-level delegation exchanges
Strategic dialogues and consultations
War legacy remediation initiatives
Military training programs

Joint contributions to United Nations peacekeeping missions

Looking ahead, Giang called for more meaningful collaboration between the two defence ministries, particularly in celebrating the 30th anniversary of the normalisation of diplomatic ties this year. He also proposed that both nations accelerate negotiations toward fair and mutually beneficial tariff policies.

Washington’s Commitment to Stronger Ties

Secretary Hegseth, representing the administration of U.S. President Donald Trump, reaffirmed Washington’s strong support for the strategic partnership with Vietnam. He expressed a desire to deepen defence cooperation and intensify joint efforts in addressing war legacies—a long-standing and meaningful pillar of U.S.–Vietnam relations.

“We value Vietnam as a trusted partner in the Indo-Pacific and look forward to elevating our relationship in the time ahead,” Hegseth noted.

At the close of the meeting, General Giang extended a formal invitation to Secretary Hegseth to visit Vietnam at the earliest convenient opportunity—signaling a shared desire for continued dialogue and closer military-to-military engagement.

Why It Matters

The meeting at Shangri-La highlights the increasing strategic importance of Vietnam–U.S. relations, especially amid shifting regional dynamics. With shared interests in maritime security, defence modernization, and economic cooperation, both countries are poised to write a new chapter in their strategic partnership—one that balances diplomacy, defence, and sustainable development in Southeast Asia.

China’s Comac Aircraft Complete Over 250 Safe Flights in Vietnam Trial, Carrying 16,000+ Passengers

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Vietnam’s skies have just completed a historic aviation trial — and the results are in. Two Chinese-made Comac aircraft, introduced through a wet-lease agreement with Vietjet Air, have successfully wrapped up a one-month pilot run, transporting over 16,000 passengers on domestic routes without a single technical incident.

Since taking off on April 19, the aircraft operated a total of 254 commercial flights on two key routes: Hanoi – Con Dao and Ho Chi Minh City – Con Dao. The flights were part of a test phase to evaluate the performance of China’s emerging aviation manufacturer, Comac, under real-world conditions in Vietnam.

Related: Vietnamese Bikini airline unveils new brand

Despite facing weather-related delays in the notoriously storm-prone Con Dao area, the aircraft completed the month-long trial with no safety issues. According to the Civil Aviation Authority of Vietnam (CAAV), the aircraft recorded 98 delays and 12 cancellations, mainly due to adverse weather and airspace regulations from Chinese aviation authorities.

While the delay rate may seem notable, officials say the trial was a success from a safety and service delivery perspective. “In a time of limited aircraft availability and rising domestic travel demand, introducing Comac planes offers an alternative solution to meet market needs,” a CAAV representative stated.

This marks the first time Chinese-manufactured Comac aircraft have been tested in Vietnam’s commercial aviation market. The planes were operated by Chengdu Airlines and temporarily leased by Vietjet Air to explore new capacity options.

The Ministry of Transport and the CAAV both emphasized that flight safety remains the top priority. The trial is considered a cautious, well-managed step toward evaluating Comac’s viability in Vietnam’s skies — a move that could reshape the country’s domestic fleet strategy in the future.

As Vietnam’s tourism and aviation sectors prepare for continued growth, the integration of new aircraft types like Comac could offer much-needed flexibility in a market hungry for expansion — but only if safety and reliability are proven over time.

Vietnam Airlines Launches Direct Flights from Nha Trang to Busan, Enhancing Connectivity with South Korea

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Vietnam Airlines officially inaugurated its new direct route between Nha Trang and Busan on June 1, marking a strategic move to enhance connectivity between Vietnam and South Korea. The inaugural flight, VN435 from Busan, was welcomed at Cam Ranh International Airport with a water cannon salute, traditional folk performances, and special gifts for the arriving passengers and crew.

The launch ceremony, jointly organized by Vietnam Airlines and the Department of Culture, Sports and Tourism of Khanh Hoa Province, brought together representatives from government authorities, aviation partners, and media outlets.

The Nha Trang – Busan route will be operated daily using Airbus A321 aircraft. This marks the second international route connecting South Korea to Khanh Hoa province by Vietnam Airlines, following the Nha Trang – Seoul service. Busan, South Korea’s second-largest city, is a growing tourism and business hub, and this new route is expected to boost inbound travel to Vietnam while enhancing the competitiveness of the local aviation and tourism industries.

According to Vietnam Airlines, the launch is part of its broader strategy to restore and expand 15 international routes in 2025. It also reflects the carrier’s ongoing collaboration with the Khanh Hoa Provincial People’s Committee under the province’s 2021–2025 development plan.

Currently, Vietnam Airlines operates an average of 16 daily flights between Vietnam and South Korea, connecting major cities such as Hanoi, Ho Chi Minh City, Da Nang, and Nha Trang with Seoul and Busan.

In the first four months of 2025, the airline transported approximately 479,500 passengers on Vietnam–Korea routes, highlighting the growing demand for travel and tourism between the two nations.

South Korea remains Vietnam’s largest international source market. In 2024 alone, Vietnam welcomed about 4.5 million South Korean visitors—accounting for 26% of the country’s total international arrivals.

In Khanh Hoa province, South Korean tourists make up nearly half of all international arrivals. From January to April 2025, the province recorded over 812,800 South Korean visitors, a 6.5% increase year-on-year.

A Vietnam Airlines representative emphasized that expanding connectivity to major Korean cities is a key part of the airline’s strategy to strengthen its international network in South-Central Vietnam, tapping into rising tourist demand and enhancing regional competitiveness.

Apple Expands Technical Training for Supply Chain Workers in Vietnam, Empowering Thousands with New Skills

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Vietnam Insider – Apple Inc. announced a major expansion of its technical training program for supply chain workers in Vietnam, with more than 45 new courses planned in 2025 at manufacturing sites across the country. The initiative is set to nearly double the educational opportunities currently available to local employees.

The new courses will focus on high-demand skills such as smart manufacturing, automation, and programming. They will be conducted at facilities operated by Apple’s key suppliers, including Foxconn, Lens, BYD, Goertek, Innovation, and Yuto — all of which are involved in assembling iPads, Macs, AirPods, and Apple Watches.

“Apple’s commitment to upskilling its supply chain workforce reflects a forward-thinking approach that not only strengthens local industry but also empowers workers with globally competitive skills,” said Sophie Dao, Senior Partner at GBS, a leading business and legal consulting firm in Vietnam. “It’s a strong vote of confidence in Vietnam’s role in the global tech supply chain.”

Since entering Vietnam in 2017, Apple has partnered with local suppliers to deliver training in technical and leadership skills, as well as health and wellness education. One of its standout programs, designed in collaboration with top medical and academic institutions, promotes health and wellness among production team leaders.

Globally, Apple’s supplier-focused health initiatives have reached more than 5.8 million workers, with over 18,000 employees in Vietnam already participating in its technical and vocational education programs.

The company is also expanding a vocational training initiative tailored for people with disabilities, starting with three local supplier sites in Vietnam. This move reinforces Apple’s commitment to diversity and inclusion, creating safer and more accessible workplaces while opening new employment pathways.

Sabih Khan, Apple’s Senior Vice President of Operations, highlighted the company’s broader vision: “The same spirit of innovation that drives our product design also guides our commitment to supporting people across our global supply chain. We’re excited to expand technical training to more suppliers in Vietnam, enabling their employees to acquire new skills in advanced fields and build stronger careers.”

Apple’s latest efforts come amid a broader trend of tech giants increasing their manufacturing footprint in Vietnam, recognizing the country’s growing importance as a global production hub and talent base.

South Korea’s SK Group Eyes $10 Billion LNG Power Projects in Vietnam

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Vietnam Insider – South Korea’s SK Group, one of Asia’s largest conglomerates, is planning a significant expansion of its energy portfolio in Vietnam, with three major liquefied natural gas (LNG)-fueled power projects under consideration as part of the country’s green growth strategy.

Chairman Tae-Won Chey announced the initiative during a meeting with Vietnam’s Deputy Prime Minister Nguyen Chi Dung, emphasizing SK Group’s long-term commitment to the Vietnamese market. The projects include proposed LNG power plants in the central provinces of Ninh Thuan, Nghe An, and Thanh Hoa.

In Ninh Thuan’s Ca Na commune, SK Group has proposed a large-scale $4 billion investment to develop a 3 GW LNG power plant along with a 270,000 m³ LNG storage facility. Originally, the group had planned a 1.5 GW plant and offshore storage, but now seeks to move the LNG terminal onshore and double the plant’s capacity. The project is expected to be approved by September 2025 and operational by 2030.

In Nghe An, SK has shown interest in the $2.1 billion Quynh Lap LNG power project in Hoang Mai township. Meanwhile, in Thanh Hoa, the group is conducting feasibility studies for another LNG plant as it builds a strategic energy footprint in central Vietnam.

“Vietnam considers SK Group a key strategic partner,” said Deputy PM Dung, adding that the government has already taken steps to address regulatory hurdles, particularly for the projects in Nghe An and Thanh Hoa.

SK Group, which spans industries from energy and chemicals to semiconductors and IT, has invested around $3.5 billion in Vietnam to date. In 2023, rumors surfaced that SK might withdraw from the country following a divestment move. However, the group firmly reiterated its intention to make Vietnam its “business hub in Southeast Asia.”

Beyond energy, SK is also contributing to Vietnam’s human capital development, particularly in training semiconductor engineers and introducing innovative technology solutions. Deputy PM Dung called on the group to deepen its collaboration in these areas, further aligning with Vietnam’s innovation and sustainability goals.

With a global market capitalization of nearly $200 billion and annual revenues exceeding $150 billion, SK Group’s continued investment signals robust confidence in Vietnam’s long-term growth prospects, especially in clean energy and industrial development.

Vietnam Seizes Thousands of Fake Rolex, Prada Goods in Major Counterfeit Crackdown

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Vietnam Insider – Vietnamese authorities have confiscated thousands of counterfeit luxury goods—including imitation Rolex watches and Prada handbags—during a major raid at Saigon Square Shopping Mall in downtown Ho Chi Minh City, state media reported on Friday.

The raid is part of a broader national crackdown on counterfeit merchandise and digital piracy following increased pressure from the United States, which has listed Vietnam as a key hub for such illegal activity. In January, the U.S. Trade Representative named Saigon Square among the world’s “notorious markets for counterfeiting.”

According to state broadcaster Voice of Vietnam (VOV), the seized items include alleged fake products mimicking high-end brands such as Longines, Gucci, Louis Vuitton, Dior, and Hermès.

“All of these products show signs of counterfeiting genuine goods, seriously affecting the interests of consumers as well as the reputation of protected brands in Vietnam,” the Ministry of Industry and Trade’s Market Surveillance Department said in a statement quoted by VOV.

An employee at the shopping mall confirmed the enforcement action, telling reporters by phone: “We lease the space to the sellers and are not aware of the origins and authenticity of the products they sell.” The employee declined to be named.

Earlier this month, Reuters reported that fake luxury goods remained on open display at Saigon Square, despite warnings and increased scrutiny.

Vietnamese authorities have vowed to tighten enforcement against counterfeiting activities as part of efforts to improve the country’s global trade reputation and protect intellectual property rights.

Foreign Man Found Dead in Hotel Room in Vietnam’s Central Highlands

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Vietnam Insider – Authorities in Vietnam’s Central Highlands are investigating the death of a South African man who was found deceased in a hotel room in Gia Lai Province.

The victim, identified as P.K.K., 50, reportedly checked into a hotel in An Phu Ward, An Khe Town, around midday on May 24.

According to hotel staff, he was assigned a room on the third floor. However, concern grew when he did not leave his room or respond to repeated knocks for two consecutive days.

On May 26, the hotel owner, L.C.Q., was alerted by staff and personally went to check the situation. A foul odor emanating from the room prompted him to immediately contact local authorities.

Police arrived on the scene shortly afterward. Upon entering the room, they discovered K.’s body lying unclothed at the foot of the bed. He was confirmed dead at the scene.

An initial investigation and autopsy were conducted on-site. The case has since been transferred to the Gia Lai Department of Public Security for further examination and to determine the cause of death.

Further updates will be provided as the investigation progresses.

Hanoi Named Among World’s 15 Most Popular Cities for Tourists in 2025

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Vietnam Insider – Vietnam’s capital city has earned a spot among the world’s 15 most popular tourist destinations, according to a new global ranking based on travel search trends. The data, compiled by U.K.-based travel insurance firm InsureandGo, reflects year-on-year analysis of Google searches for flights, hotels, and travel itineraries.

The list, which includes international hotspots such as Tokyo, Rio de Janeiro, and Lucerne, highlights a growing global interest in cities that offer rich cultural immersion, and Hanoi stands out as a prime example.

A Resurgence of Cultural Curiosity

Hanoi’s inclusion in the top 15 represents a shift in global travel preferences away from overcrowded tourism hubs and toward destinations that provide authentic, meaningful experiences. Known for its deep-rooted history, vibrant street life, and a fusion of ancient and colonial architecture, Hanoi continues to captivate the imagination of global travelers.

Among the city’s most iconic landmarks are the Imperial Citadel of Thang Long, a UNESCO World Heritage site; the Temple of Literature, Vietnam’s first national university; and the Old Quarter, where narrow streets bustle with energy and tradition.

World-Class Cuisine Drawing Food Lovers

In addition to its historical charm, Hanoi’s culinary scene is a major draw. Visitors from around the world seek out signature dishes such as pho, the iconic noodle soup; bun cha, grilled pork served with vermicelli; cha ca La Vong, turmeric-marinated catfish fried with dill; and Thanh Tri steamed rice rolls. These local specialties have earned praise from global food critics and featured prominently in international travel and lifestyle media.

A food vendor walks past the Temple of Literature in Hanoi. (Nhac Nguyen/AFP/Getty Images)

Global Recognition Alongside Elite Company

Hanoi joins a distinguished group of trending destinations including Tokyo (Japan), Seville (Spain), Chicago (U.S.), Chiang Mai (Thailand), Jakarta (Indonesia), and Tbilisi (Georgia)—each representing a growing traveler preference for destinations rich in culture, local flavor, and distinctive heritage.

Conversely, the study also noted a decline in tourist interest in once-popular cities such as Havana (Cuba), Miami (U.S.), Las Vegas (U.S.), London (U.K.), and Singapore, suggesting a broader shift in travel behavior.

A Rising Star in Global Tourism

Experts point to Hanoi’s balanced appeal—historic depth, gastronomic richness, and vibrant local character—as key reasons for its rising profile. Its affordability and increasing international air connectivity further enhance its attractiveness as a global travel hotspot.

As the travel industry rebounds in 2025, Hanoi’s position among the top 15 most sought-after cities underscores Vietnam’s growing stature on the world tourism map and signals a new era of international interest in culturally authentic destinations.

Vietnam to Ease Citizenship Rules for Foreign Investors, Experts, and Overseas Vietnamese

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In a significant move to attract global talent and reconnect with overseas communities, Vietnam is drafting a groundbreaking law that would allow foreigners—particularly investors, scientists, and experts—to obtain Vietnamese citizenship without the traditional residency requirements.

The proposed legislation, currently under review by the National Assembly, aims to simplify naturalization procedures and offer more inclusive pathways to Vietnamese nationality for those who have made meaningful contributions to the country’s development or defense.

No Residency or Language Requirement for Contributors

Under the new draft, eligible foreign nationals would no longer be required to demonstrate Vietnamese language proficiency, reside continuously in Vietnam for five years, or prove financial self-sufficiency. These exemptions are intended to make it easier for individuals with “special contributions”—whether economic, scientific, cultural, or national security-related—to become Vietnamese citizens.

Minors who have Vietnamese ancestry or who acquire nationality through a parent would also benefit from simplified procedures, including the ability to apply via Vietnamese embassies and consulates abroad.

Embracing Dual Citizenship with Safeguards

Another notable change is the potential for qualified foreign applicants to retain their original nationality, if their home country’s laws allow it. Dual citizenship may be granted so long as it does not threaten Vietnam’s national interests, offering greater flexibility for Vietnamese descendants and global professionals.

In addition, the draft law proposes lifting existing limitations on those seeking to regain Vietnamese citizenship. This could benefit many overseas Vietnamese who lost their nationality due to various circumstances and are now looking to reconnect with their roots or contribute to Vietnam’s future.

A Strategic Shift Aligned with National Goals

According to lawmakers, this progressive reform reflects Vietnam’s broader vision to support the global Vietnamese diaspora, encourage returnees, and welcome foreign talent to invest in innovation, business, and digital transformation.

“The revised law is designed to meet the realities of globalization and national development,” said a representative from the drafting committee. “We are creating favorable conditions for those who love Vietnam and want to be part of its future.”

Single Citizenship Requirement for Key Public Positions

While the new draft opens doors for foreign applicants, it also introduces stricter rules for individuals holding sensitive government, military, and public-sector roles—requiring them to hold only Vietnamese citizenship. Exceptions may still be granted in cases that serve the national interest.

The National Assembly is expected to deliberate the draft law on May 29 and vote on it during the June 23 session.

Manhunt Underway for Knife-Wielding Bank Robber in Quang Ninh

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Quang Ninh, Vietnam — Authorities in Quang Ninh Province have launched a manhunt for a suspect involved in a broad daylight armed bank robbery at a branch in Yen Thanh Ward, Uong Bi City, according to Dan Tri newspaper.

Robbery in the Afternoon

At approximately 4:50 PM on May 29, a man entered a local bank transaction office in Yen Thanh and threatened staff with a fruit knife. He forced employees to hand over the cash placed on the counter, then fled the scene quickly.

Caught on Camera

Surveillance footage captured clear images of the suspect. He is described as approximately 1.7 meters tall, wearing a blue long-sleeved outfit resembling a worker’s uniform, a white baseball cap with a black visor and a rectangular black logo, white sneakers, and carrying a red-and-black backpack.

The suspect fled the scene on a red-and-black Yamaha Sirius motorbike with alloy wheels and no license plate.

Public Asked to Assist

Quang Ninh Provincial Police are urging the public to assist in locating the suspect. Anyone with relevant information or who spots an individual matching the description is encouraged to contact Senior Lieutenant Colonel Nguyen Trong Hung, Head of the Criminal Investigation Division, at 0902 234 668.

The case remains under active investigation.

Switzerland Commits $50 Million to Support Vietnam’s Sustainable Development Goals

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Hanoi, May 29 — In a powerful reaffirmation of its long-standing support for Vietnam, Switzerland has pledged $50 million in development funding for the 2025–2028 period, with a strong focus on innovation, green growth, and sustainable development.

This announcement was made during the conference “Vietnam – Switzerland Development Cooperation: 35 Years and Beyond,” hosted by the Swiss Embassy in Hanoi. The event marked an important milestone in bilateral relations, celebrating 35 years of cooperation while launching a new chapter of strategic partnership.

A Legacy of Support, A Future of Innovation

Speaking at the event, Swiss Ambassador to Vietnam, Thomas Gass, highlighted Switzerland’s enduring commitment to Vietnam’s development. Over the past three decades, Switzerland has provided more than 650 million CHF (approx. USD 800 million) in Official Development Assistance (ODA), contributing significantly to Vietnam’s socio-economic progress.

The most recent cooperation program (2021–2024) has already delivered tangible results—strengthening public governance, improving the investment climate, advancing renewable energy and sustainable agriculture, and supporting environmental protection across key economic zones.

In early 2025, during the World Economic Forum in Davos, Vietnam and Switzerland elevated their relationship to a “Comprehensive Partnership”—a historic move signaling deeper collaboration across strategic sectors as Vietnam enters a new phase of development.

A $50 Million Commitment for 2025–2028

Building on this foundation, the Swiss government will allocate $50 million through the Swiss State Secretariat for Economic Affairs (SECO) to fund its 2025–2028 development cooperation program in Vietnam. The program is strategically aligned with Vietnam’s ambition to become a high-income country by 2045 and achieve net-zero emissions by 2050.

According to Ambassador Gass, “This new program builds on Swiss expertise and demonstrates our strong commitment to standing alongside Vietnam on its journey to sustainable prosperity.”

Focus Areas of Swiss Support

Under the 2025–2028 program, Switzerland will prioritize three key areas:

Promoting Sustainable Trade and Innovation
Enhancing the competitiveness of Vietnamese enterprises by fostering clean technology, environmentally responsible production, and innovation-driven growth.
Strengthening Public Finance and Mobilizing Green Capital
Improving public financial management and expanding green finance instruments, while encouraging private sector involvement in sustainable development.
Developing Smart Industrial and Urban Models
Supporting the creation of climate-resilient, smart cities and industrial zones that improve quality of life and drive sustainable economic expansion.

A Joint Vision for the Future

Deputy Minister of Finance Cao Anh Tuan praised the deep and effective cooperation between the Vietnamese Ministry of Finance and SECO, emphasizing a shared commitment to ensuring that the 2025–2028 program is implemented transparently, efficiently, and in alignment with international standards.

He also called for continued integration of global best practices in financial governance and sustainability, while expanding collaboration into emerging areas such as green finance, digital transformation, and fiscal resilience.

As Vietnam accelerates its sustainable development journey, Switzerland’s renewed commitment stands as a powerful example of international solidarity—and a blueprint for future-forward partnerships.

Vietnam Cracks Down on Billion-Dollar Transnational Gambling Ring Powered by AI

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Thai Binh, Vietnam — In a groundbreaking operation, Thai Binh Provincial Police have dismantled a massive transnational gambling and money laundering ring that exploited artificial intelligence (AI) to bypass security systems and move illicit funds across borders.

As of May 30, 21 suspects have been arrested and formally charged with gambling and money laundering under Articles 321 and 324 of the Penal Code. The criminal case has been approved by the Thai Binh Provincial People’s Procuracy, signaling Vietnam’s growing crackdown on tech-enabled crime.

A High-Tech Crime Syndicate

This criminal network—believed to be the first of its kind in Vietnam—used sophisticated AI technologies to facilitate large-scale gambling and launder money through a maze of digital transactions.

Authorities revealed that the syndicate operated the gambling platform “KUBET”, which is hosted on servers overseas. The website offered illegal betting services, including lotteries, football matches, and casino-style games. Vietnamese users accessed the platform via mobile phones, created gambling accounts, and linked them to domestic bank accounts to deposit and withdraw funds.

By the time authorities swooped in, over one million gambling accounts had been identified, with total wagers exceeding 1,000 billion VND (approximately USD 40 million).

AI-Fueled Money Laundering

The investigation uncovered an elaborate scheme run by a Taiwanese ringleader in collusion with accomplices inside Vietnam. To mask the money trail, the group hired individuals to open local bank accounts, which were then used to receive deposits from gamblers.

Here’s where the tech twist comes in: for large transfers (10 million VND or more), Vietnamese banking apps require biometric face authentication. The syndicate used AI-generated deepfake videos of account holders’ faces to fool the system and authorize transactions without the user’s physical presence—an alarming development for the country’s financial security infrastructure.

Massive Financial Trail

Authorities have already frozen more than 500 bank accounts, and estimate the group laundered over 200 billion VND (USD 8 million) each month. Between September 2024 and April 2025 alone, illicit transactions are believed to have totaled more than 1,000 billion VND.

The Provincial Police are now working closely with the Provincial People’s Procuracy to expand the investigation, gather more evidence, and bring the full force of the law down on all involved.

Vietnam Insider will continue to monitor this story as it unfolds, especially as it highlights a worrying new trend: the fusion of AI and organized crime. Stay tuned for updates.

Foreign Tourist Robbed in Vietnam’s Hoi An, Suspect Arrested After Swift Police Action

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Hoi An, Vietnam – A 23-year-old man has been arrested in Quang Nam Province for allegedly snatching a handbag from a New Zealand tourist in Hoi An, one of Vietnam’s most popular heritage destinations.

The incident occurred on the morning of May 19, when the tourist, a 59-year-old woman identified as S.D.D., was cycling along Lac Long Quan Street. The suspect, Le Dai Rin, approached her from behind on a motorbike and grabbed the handbag from the front basket of her bicycle before speeding off.

The stolen bag contained a mobile phone, about VND3 million (roughly US$116), identification documents, and other personal items.

The victim quickly alerted local authorities. Hoi A police launched an immediate investigation, reviewing surveillance footage and coordinating search efforts.

Just three days later, on May 22, police identified a man matching the suspect’s description riding a similar motorcycle. After stopping him for questioning, Rin confessed to the crime. A subsequent search of his residence uncovered the stolen handbag and the victim’s belongings.

Authorities also revealed that Rin has a previous conviction for similar theft.

The case has drawn attention in Hoi An, a UNESCO-listed city known for its historic charm and growing popularity among international travelers. Local officials emphasized their commitment to ensuring tourist safety and swiftly addressing criminal activity.