Vietnam Insider - Page 86 of 1522

Insider’s view: Is Vietnam’s $61B High-Speed Rail Proposal a Bold Vision — or a Corporate Smoke Bomb?

Advertisements

In a country racing toward modernization, few headlines stir public imagination like the promise of a $61 billion high-speed railway linking Hanoi and Ho Chi Minh City. Recently, such a proposal emerged—not from the government, but from a private Vietnamese company stepping into the spotlight with an audacious claim: to outpace the national plan and reshape Vietnam’s transport future.

But as Cuong Dang, former CEO of Forbes Vietnam, argues in this provocative analysis, beneath the grand vision lies a calculated distraction. This isn’t a story about infrastructure. It’s a story about power, pressure, and the lengths a troubled conglomerate will go to regain control of its narrative.

What looks like a bold leap for Vietnam may in fact be a strategic smokescreen—one designed to stall scrutiny, sway public sentiment, and buy time amid a deepening financial storm.

Here’s the original post on his LinkedIn page.

“Vietnam’s $61B Railway Fantasy Is a Corporate Smoke Bomb

A few weeks ago, a Vietnamese private company proposed a $61 billion high-speed railway connecting Hanoi and Ho Chi Minh City — a massive project that would supposedly leap ahead of the government’s own national plan.

On paper, it sounds like ambition on overdrive.
In reality, it looks a lot more like a corporate smoke bomb — a strategic distraction wrapped in nationalism.

Let’s be clear: this is not about building trains.
It’s about buying time, freezing scrutiny, and resetting power in the middle of mounting financial pressure.

The company behind the proposal is tied to a conglomerate that’s overleveraged, overstretched, and increasingly under fire. Its flagship EV business has posted billion-dollar losses. Its stock has tanked. Its vision of becoming “Vietnam’s Tesla” is quietly unraveling.

And when that kind of narrative breaks down, there are two options:

Shrink quietly. Or go nuclear with spectacle.

This is spectacle. The kind that makes ministries hesitate, media pivot, and creditors back off — at least temporarily.

By positioning itself as the private savior of Vietnam’s rail future, the company regains:

Relevance it was losing.
Leverage it desperately needs.
And symbolic protection — because who wants to be the official who shuts down a $61B “nation-building” project?

It’s a play we’ve seen in other markets: Use scale and patriotism to stall pressure, delay accountability, and reposition the narrative.

The strategy is risky. If the state leans in too far — subsidizing land, soft loans, or credibility — it risks signaling that Vietnam rewards hype over discipline. But if it publicly dismisses the proposal, it looks like it’s turning its back on ambition.

The better path is clear: test it. Scrutinize it.
Don’t fall for the flag-waving. Don’t ignore it either.

Vietnam’s next era will be defined not just by what gets built — but by how power gets framed, and who gets to define “national interest.”

Because sometimes, a $61 billion proposal isn’t a leap forward.

It’s a runway out of crisis.”

Read original post on LinkedIn

Binh Duong Land Prices Surge 700% in a Decade: Is It Time for Foreign Investors to Dive In?

Advertisements

Binh Duong province, a rising star in Vietnam’s real estate market, has recorded a staggering 700% increase in land listing prices over the past 10 years, according to data from Q1/2025.

This makes it the highest growth rate among key southern provinces neighboring Ho Chi Minh City, including Dong Nai, Long An, and Ba Ria – Vung Tau.

Speaking at the recent “Binh Duong Real Estate Outlook” forum, Associate Professor Dr. Tran Dinh Thien, former Director of the Vietnam Institute of Economics, highlighted that despite global uncertainties, Vietnam continues to offer investment opportunities—particularly in real estate. He emphasized that Binh Duong reflects the strength of Vietnam’s macroeconomic foundation, citing robust public investment, infrastructure development, and a solid industrial base.

Related: Vietnam Emerges as a Top 10 Global Real Estate Investment Destination

Strategically located just 30 km northeast of Ho Chi Minh City, Binh Duong ranks among the top three provinces in GDP and boasts the highest average income in the country. With future plans to integrate administratively with HCMC and Ba Ria – Vung Tau, Binh Duong is set to become part of a mega-urban cluster, further enhancing its appeal.

But with such dramatic price increases, is now the right time for foreign investors to enter the market—or is the risk too high?

Sophie Dao, Senior Partner at GBS, advises foreign investors to proceed with caution. “Understanding Vietnam’s legal framework is essential to avoid hidden risks in real estate transactions. We guide investors through due diligence, regulatory compliance, and risk mitigation strategies,” she shared.

Trump Organization Eyes Trump Tower in Ho Chi Minh City After $1.5B Vietnam Expansion

Advertisements

Ho Chi Minh City, Vietnam — The Trump Organization is setting its sights on Ho Chi Minh City as the next frontier in its Vietnam expansion plans, following the recent green light for a massive US$1.5 billion urban development project in Hưng Yên Province.

In a move that underscores the group’s growing ambitions in Vietnam’s booming real estate sector, representatives of the Trump Organization are scheduled for two high-level meetings with Ho Chi Minh City leadership this week. The meetings are expected to lay the groundwork for the construction of a landmark Trump Tower in the city’s Thủ Thiêm urban area.

Related: Here’s how to invest into Vietnam as foreign investor

According to the official agenda of the HCM City People’s Committee, Vice Chairman Võ Văn Hoan will meet Charles James Boyd Bowman, Director of the Trump International Hưng Yên project, on May 19. This will be followed by a second session on May 22, during which Eric Trump — Executive Vice President of the Trump Organization and son of former U.S. President Donald Trump — will engage directly with city officials.

Sources familiar with the meetings suggest that the Trump Organization will conduct site surveys and present a preliminary vision for the Trump Tower project in Thủ Thiêm, an area often referred to as the “new financial center” of Ho Chi Minh City.

The renewed interest in Vietnam follows the Trump Organization’s successful approval for a sprawling mixed-use complex in Hưng Yên, just outside Hanoi. That project, spanning more than 990 hectares, will feature a luxury golf resort, high-end residences, and eco-conscious hospitality infrastructure. The development is expected to accommodate nearly 30,000 residents and is slated to break ground in Q2 of 2025, with completion targeted for 2029.

The estimated total investment for the Hưng Yên development reaches approximately VNĐ39.8 trillion (US$1.53 billion), which also covers land compensation and resettlement costs.

A Trump Tower in Ho Chi Minh City — if realized — would mark one of the most high-profile foreign-led real estate projects in southern Vietnam, reflecting both investor confidence in the market and the Trump brand’s continued pursuit of global expansion.

More updates on the proposed project are expected to be released following the meetings this week. Stay tuned to Vietnam Insider for the latest developments.

Covid-19 Cases Tick Up in Hanoi and Ho Chi Minh City of Vietnam

Advertisements

Buckle up, Vietnam Insider readers—Covid-19 is making a subtle comeback in Hanoi and Ho Chi Minh City (HCMC)!

Last week, both cities saw a slight uptick in cases, but don’t hit the panic button just yet—no major outbreaks are on the horizon. Health officials are urging everyone to mask up in public spaces and stay vigilant to keep this sneaky virus at bay.

Here’s the lowdown on what’s happening and how you can protect yourself in true Vietnamese spirit!

Hanoi and HCMC: A Slight Surge, But No Alarm Bells

Hanoi’s Center for Disease Control (CDC) dropped some fresh stats on May 19, revealing 23 new cases last week—1.5 times higher than the total cases since January 2025. So far this year, the capital has clocked 37 cases, a massive drop from 637 in the same period last year. Meanwhile, HCMC reported 51 cases since January, with six popping up last week alone, up by 10 from the previous four-week average. The good news? Compared to 2024, HCMC’s infections are down 83%, and no one’s needed breathing support.

Nationwide, Vietnam’s seen a gentle rise, averaging about 20 cases weekly over the past three weeks, with a total of 148 cases across 27 provinces and cities in 2025. Places like Hai Phong, Nghe An, Bac Ninh, and Binh Duong are also on the list, but no severe cases or deaths have been reported. Phew!

Asia’s Covid Comeback: What’s Driving It?

Vietnam’s not alone in this. Across Asia, countries like Singapore, Hong Kong, China, Malaysia, and Thailand are seeing Covid cases climb. Thailand’s been hit hard, with 71,067 infections and 19 deaths from January to mid-May, including two big outbreaks after the Songkran festival. Experts are pointing fingers at the Omicron XEC variant, a speedy new strain first spotted in Germany in June 2024. Born from a mix of two Omicron subvariants (KS.1.1 and KP.3.3), XEC’s mutations make it a fast-spreading troublemaker.

Why the surge? Blame fading community immunity, holiday crowds (we’re looking at you, April 30 and May 1!), and these sneaky new variants. But Vietnam’s ready to fight back with its trademark resilience.

People wear protective masks to protect themselves against coronavirus while driving along Long Bien bridge in Hanoi, Vietnam. REUTERS/Kham

Stay Smart, Stay Safe: What You Can Do

No outbreaks doesn’t mean no action! The Ministry of Health is sounding the alarm: with holiday travel and bustling markets, cases could creep up. Here’s how you can keep Covid at arm’s length:

Mask up like a pro: Rock that face mask in crowded spots, on buses, or at clinics—it’s your superhero cape against germs!
Wash, rinse, repeat: Scrub those hands with soap or sanitizer to keep viruses on the run.
Skip the big gatherings: Keep meetups small to avoid unwanted viral guests.
Stay active and eat well: Boost your body’s defenses with exercise and nutritious phở-fueled meals.
Feeling off? Get checked!: Fever, cough, or shortness of breath? Head to a clinic ASAP for a check-up.
Back from a hotspot?: Monitor your health closely to protect your loved ones and community.

Vietnam’s Covid Journey: From Pandemic to Manageable Foe

Since Covid-19 crashed the global party in 2020, Vietnam has faced over 11.6 million cases, ranking 13th out of 231 countries. The nation mourned 43,000 lives lost, but that’s just 0.4% of cases—a testament to Vietnam’s fierce fight. In October 2023, the government downgraded Covid from a “dangerous” Group A disease to a more manageable Group B, like the flu, signaling confidence in handling it.

Let’s Keep Vietnam Vibrant and Virus-Free!

Hanoi and HCMC are buzzing with life, and a few extra Covid cases won’t dim their shine. By masking up, staying healthy, and keeping an eye out, we can all help keep Vietnam’s streets, markets, and coffee shops safe and lively. So, dear readers, let’s channel that Vietnamese grit, protect our communities, and show Covid who’s boss!

Ho Chi Minh City Unveils Bold Plan to Transform 400,000 Ride-Hailing Motorbikes into electric motorbikes

Advertisements

(Vietnam Insider) Imagine zipping through the vibrant streets of Vietnam’s Ho Chi Minh City (HCMC) on a sleek, eco-friendly electric motorbike! Last Saturday, the city administration dropped an exciting bombshell at a high-energy meeting: a game-changing proposal to convert all 400,000 motorbikes used by ride-hailing services into electric motorbikes.

This ambitious move is set to revolutionize how Vietnamese commuters and delivery drivers navigate the bustling metropolis, and it’s got everyone talking!

HCMC, a pulsating hub for ride-hailing giants like Grab, Xanh SM, and Be, as well as delivery champs like ShopeeFood, Ahamove, J&T, Viettel Post, and VNPost, relies heavily on two-wheelers to keep the city’s pulse racing. While Xanh SM, backed by powerhouse Vingroup, has already gone all-in on electric motorbikes, other players let their driver-partners choose between gasoline and electric rides. But change is coming, and it’s electric!

City officials aren’t just dreaming big—they’re doing the groundwork. Teams have been hitting the streets, conducting on-site surveys to map out what’s needed, from rest stops to cutting-edge charging stations for these green machines. After gathering expert insights, a detailed roadmap is slated to drop in July 2025, promising to light the way for this electrifying transformation.

But that’s not all! HCMC is doubling down on its green vision with a vehicle emissions control program, set to roll out in Q4 2025. This plan isn’t just for motorbikes—it’s a full-on eco-overhaul targeting taxis, buses, and even public agency vehicles. Expect juicy incentives, conversion plans, and even a buy-back scheme to swap out old gas-guzzlers for shiny new electric motorbikes. By 2030, fossil fuel vehicles could face restrictions as the city races toward a cleaner, greener future.

The stakes are higher now that HCMC’s borders have expanded to include Binh Duong and Ba Ria – Vung Tau provinces, following a massive administrative shake-up reducing Vietnam’s provinces from 63 to 34. The Department of Construction is working overtime to assess the impacts and ensure this green revolution is feasible across the newly enlarged city.

At the meeting, Vingroup’s vice chairwoman, Le Thi Thu Thuy, stole the spotlight with a passionate call to action: ban gasoline vehicles, champion electric motorbikes, support conversions, and supercharge the charging network. City chairman Nguyen Van Duoc couldn’t agree more, declaring the green transition a “global trend and a pressing need” that will fuel sustainable growth and create a new vibe for HCMC.

To steer this bold vision, the city is forming a dedicated green transition committee, kicking off with a consultative group to keep the momentum going. With HCMC leading the charge, Vietnam is poised to become a trailblazer in eco-friendly transport. So, dear readers, buckle up—HCMC’s electric future is about to spark a revolution, and you won’t want to miss it!

Vietnam Records Slight Rise in COVID-19 Cases, Health Ministry Issues Public Precautions

Advertisements

Hanoi, May 14 — Vietnam’s Ministry of Health has confirmed a slight uptick in COVID-19 cases over the past three weeks, with an average of 20 new infections per week reported nationwide.

As of early May, 148 cases have been recorded across 27 provinces and cities since the beginning of 2025. No fatalities or widespread transmission have been reported.

While the situation in Vietnam remains under control, officials are urging the public to remain cautious as neighboring countries like Thailand experience a surge in infections linked to the fast-spreading Omicron subvariant XBB.1.16.

Thailand has reported over 53,600 cases this year, with Bangkok being the hardest hit. However, global health experts emphasize that most cases exhibit only mild symptoms and no new global alert has been issued by the World Health Organization (WHO).

The Ministry of Health advises the public to remain vigilant and adopt standard preventive measures:

Wear face masks in crowded public areas
Avoid large gatherings
Practice regular hand hygiene
Monitor health and seek testing when experiencing symptoms

Authorities reaffirm that Vietnam’s current outbreak shows no signs of severity. However, proactive surveillance and close coordination with WHO will continue to ensure effective response measures are in place.

Stay informed. Stay safe.

Vietnam Opens New Doors for Foreign Investors with Official Launch of P2P Lending Sandbox

Advertisements

Hanoi, May 2025 – Vietnam has taken a major step forward in modernizing its financial system with the introduction of Decree 94/2025/ND-CP, which officially launches a two-year pilot program for peer-to-peer (P2P) lending platforms. This new policy not only supports financial inclusion and innovation but also opens promising investment opportunities for foreign fintech players seeking entry into one of Southeast Asia’s most dynamic emerging markets.

Starting July 1, 2025, licensed fintech companies in Vietnam will be permitted to operate legally within a regulatory “sandbox” environment—an official space where new models can be tested under the supervision of the State Bank of Vietnam. This move brings P2P lending out of legal ambiguity and into a structured ecosystem that balances innovation with consumer protection.

A Landmark Opportunity for Fintech Investors

The P2P lending model, which allows individuals to lend and borrow directly through digital platforms without the involvement of traditional banks, has already taken root informally in Vietnam. However, with no prior legal framework, many platforms operated in a gray area—raising concerns over transparency, interest rates, and user protection.

Now, with clear rules and oversight, the sector is being brought into the mainstream. For international investors, particularly those with fintech experience, this marks a unique window of opportunity.

“Vietnam’s sandbox model is a smart, forward-looking strategy,” said Sophie Dao, Senior Partner at GBS – Global Business Services LLC, a leading consultancy supporting foreign investors in Vietnam. “It shows that the government is committed to nurturing innovation while still ensuring trust and transparency. We are already seeing significant interest from overseas clients eager to enter this space.”

Sophie Dao added that GBS is well-positioned to guide foreign fintech firms through the regulatory, licensing, and business setup processes, including company registration, legal compliance, and partnership facilitation.

Aligning With Global Trends, But With Vietnamese Values

As countries around the world grapple with how to regulate the fast-moving world of fintech, Vietnam’s model stands out for its balance between openness and control. Only a limited number of vetted companies will be allowed into the sandbox, and they must adhere to strict standards regarding data reporting, user protection, and risk management.

“Vietnam isn’t rushing into deregulation,” Dao noted. “It’s learning from global best practices and tailoring a model that fits local conditions. That’s what makes it so attractive for long-term investors.”

The new decree also ensures that P2P platforms address one of Vietnam’s long-standing challenges: access to credit. Millions of small business owners, informal workers, and rural entrepreneurs are currently underserved by traditional banking channels. With P2P lending, individuals can now access loans quickly and digitally, while lenders have new avenues to invest directly in the country’s grassroots economy.

Building a Transparent, Inclusive Financial Future

Decree 94/2025 signals a larger shift in Vietnam’s financial strategy—toward a more inclusive, tech-driven system that embraces change while mitigating risk. It introduces formal oversight for platforms that were once unregulated, creating a safer environment for both lenders and borrowers.

The policy has also been well received by regional analysts and domestic fintech leaders, who see it as an essential step to level the playing field and eliminate predatory or deceptive practices.

For investors, it’s more than a regulatory update—it’s an invitation to be part of a new financial chapter in Vietnam’s development.

GBS: Your Trusted Partner in Vietnam’s Fintech Revolution

With over two decades of experience in legal and business consulting for foreign investors, GBS stands ready to support international players looking to explore Vietnam’s newly opened P2P lending space. From initial market entry to regulatory compliance and ongoing operations, GBS offers comprehensive end-to-end support.

“Foreign investors shouldn’t see this as a short-term play,” Sophie Dao emphasized. “Vietnam is laying the groundwork for a digital economy that will thrive in the next decade—and fintech will be at its core. Those who come early, with the right local guidance, will be in a strong position to lead.”

As Vietnam takes careful, deliberate steps into the future of finance, the world is watching. And for those ready to act, the door is now open.

For consultation on entering Vietnam’s fintech sector, contact GBS at www.gbs.com.vn or reach out to Sophie Dao and her team directly.

Why Thailand Is Falling Behind in the Regional Tourism Race?

Advertisements

(Vietnam Insider) – Bangkok, Thailand – May 2025 – Thailand, once the undisputed tourism powerhouse of Southeast Asia, is now facing a steep decline in international visitor numbers, forcing the government and industry stakeholders to reassess and revise their expectations for 2025.

According to data released by the Tourism Authority of Thailand (TAT), international arrivals dropped by 0.2% in the first four months of the year compared to the same period in 2024. In response, TAT has scaled back its initial goal of attracting 40 million foreign tourists this year, despite maintaining ambitions for revenue growth.

China No Longer a Stronghold

China, historically Thailand’s largest source of international visitors—accounting for 25% pre-pandemic—has seen a drastic decline. Visitor numbers from China fell by 30% in the past four months. Air travel between the two countries dropped by 25%, while flights from China to Japan and South Korea surged by 43% and 28% respectively, highlighting a shift in Chinese travelers’ preferences.

Chai Iamsiri, CEO of Thai Airways, attributed the sluggish recovery to the Chinese government’s continued emphasis on domestic tourism. The airline now operates just 35 weekly flights to China, compared to 80 before COVID-19.

TAT offices in China have also noted a worsening perception of Thailand among Chinese tourists due to high-profile incidents including kidnappings, natural disasters, and negative media coverage. These concerns have been echoed by Indian travel agents, raising alarms about broader regional reputational risks.

Losing Ground in the Region

Thailand’s regional competitors are capitalizing on the situation. In 2024, Japan surpassed Thailand in attracting Chinese tourists, hosting 6.9 million compared to Thailand’s 6.7 million. In Q1 2025, Vietnam welcomed 1.5 million Chinese visitors—outpacing Thailand and strengthening its position as a rising tourism contender.

The Federation of Thai Industries (FTI) warns that a continued downturn in tourism could trigger broader economic impacts. The U.S. government’s threat of a 36% tariff on Thai exports adds further pressure.

Tourism Industry Sounds the Alarm

Industry leaders are urging the government to move beyond marketing campaigns and address core issues like safety, pricing, and service quality. “Tourism generates trillions of baht, but the sector’s budget allocation doesn’t reflect its importance,” said Tassapon Bijleveld, Executive Chairman of Asia Aviation.

Panit Kannasut, owner of a popular Bangkok restaurant, revealed that revenues have dropped 20% since mid-March. Domestic patrons now account for 70% of her customers, with fewer foreign tourists dining out—despite it being peak season.

“Thai tourists are also cutting back on spending,” she noted. “We should stop relying solely on Chinese tourists and explore opportunities in the Southeast Asian market. The key is attracting high-quality travelers willing to spend, rather than just aiming for high numbers.”

The Road Ahead: Challenges and Opportunities

While the government has introduced initiatives like digital immigration cards to combat cross-border crime and unlicensed accommodations, experts argue these are piecemeal solutions. Thanet Supornsahasrungsi, Chairman of the Chonburi Tourism Association, stressed the need for comprehensive safety measures and diversified marketing strategies, particularly targeting travelers from Malaysia and Southeast Asia.

Analysts from KGI Securities, Maybank, and BofA have all downgraded their forecasts for Thailand’s international tourist arrivals in 2025, estimating 35–37 million visitors—well below the 40 million target.

As the peak travel season approaches, Thailand’s tourism industry finds itself at a crossroads. Bold policy interventions, improved safety, and a focus on traveler experience—not just marketing—may be essential for Thailand to regain its footing in the increasingly competitive tourism landscape of Asia.

Reported by Vietnam Insider, based on information from VnExpress and Bangkok Post

Prudential launches new Universal Life Insurance Product PRU-Bảo Vệ Tối Đa

Advertisements

A whole life financial planning solution offering long-term protection and wealth accumulation with flexible and diverse benefits

Hanoi, 12 May 2025 – Prudential Vietnam Assurance Private Ltd. (“Prudential”) has launched a new universal life insurance product, PRU-Bảo Vệ Tối Đa (PRU-Max Protect) – Max protection value for each premium, designed to meet customer needs for long-term protection and flexible wealth accumulation options. The first product introduced by Prudential after the new Insurance Business Law took effect, PRU-Bảo Vệ Tối Đa has a maximum protection cover of 80 times the annualised target premium. In addition, the account value is maintained early in life of policy with competitive breakeven year (policy account value equals total premiums paid), guaranteed interest rates, and attractive bonuses.

Mr. Conor M. O’Neill, Chief Financial Officer of Prudential Vietnam, shared: “We are committed to being the most trusted partner and protector for our customers by flexibly meeting their needs at every significant milestone in their lives. We endeavour to be an insurer which demonstrates best practice in designing products and supports the building of confidence of Vietnamese customers in long term savings, protection, and investments.”

Amid broader inflationary pressures across the Asia-Pacific region, medical costs in Vietnam are projected to increase by 11.2 per cent in 2025, exceeding the global average of 10.4 per cent, highlighting the urgent need for sustainable protection. In response, PRU-Bảo Vệ Tối Đa is innovatively designed for customers to enjoy optimal protection benefits and sustainable financial accumulation. By participating in PRU-Bảo Vệ Tối Đa, customers can flexibly switch between the Basic Plan, which balances protection and saving, and the Advance Plan, which maximises financial protection, as their needs change, while the main product premium remains the same.

Addressing the customers’ expectations for wealth accumulation, the Policy Account Value is boosted with attractive bonuses: Loyalty bonus, awarded on the 10th and 15th Anniversary Date and every five years thereafter; Retention bonus, awarded on the 20th Anniversary Date and every five years thereafter. Moreover, the PRU-Bảo Vệ Tối Đa offers customers a sustainable financial accumulation with a guaranteed crediting rate throughout the policy period. In all cases, the actual investment rate will not be lower than the minimum guaranteed interest rate published by Prudential, ensuring a competitive market rate. The Universal Life Fund is managed by Eastspring Investments Vietnam, fund management company with the largest assets under management in the Vietnamese market, supported by a team of professional and experienced investment experts.

In addition to the above outstanding features of the product, PRU-Bảo Vệ Tối Đa also offers customers proactiveness through various flexible policy entitlements, including the ability to:

Actively increase the Policy Account Value up to five times the Annual Target Premium for the outstanding accumulation goals
Proactively increase the sum assured without medical underwriting at important milestones of life, such as marriage, childbirth/adoption, or when their child starts primary school, secondary school, high school, or university
Proactively change the sum assured and add/terminate rider(s) according to customer protection needs at each stage of life
Proactively withdraw money from the Policy Account Value according to financial needs

Customers can also add riders with reasonable costs, broad coverage and high protection benefits to enhance protection and healthcare benefits for themselves and their families.

For more details on the benefits of the PRU-Bảo Vệ Tối Đa universal life insurance product, please refer to the respective Insurance Product Terms and Conditions and receive product consultation here.

Global Ivory Trade Crackdown: Vietnam Among Top Countries for Seizures from 1990 to 2024

Advertisements

May 14 – (Vietnam Insider) – A recent report has revealed staggering data on global efforts to combat the illegal ivory trade, with Vietnam ranking among the top countries for ivory seizures between 1990 and 2024, alongside Kenya, China, and Hong Kong.

Over the 34-year period, Kenya led the world in ivory seizures, with more than 130,000 kilograms confiscated—an amount valued at up to $390 million on the black market. China followed with 106,068 kg, while Hong Kong and Vietnam recorded 75,706 kg and 71,255 kg, respectively.

These figures highlight not only the sheer scale of the illicit ivory trade but also the ongoing challenges in enforcing bans and protecting endangered elephant populations.

A Lucrative Black Market

Despite the global ban on international ivory trade under the Convention on International Trade in Endangered Species (CITES), demand persists—fueled by a thriving black market where prices range from $1,000 to $3,000 per kilogram, depending on quality and region.

The immense profit potential makes smuggling a high-reward, high-risk activity, particularly in regions with weak law enforcement, porous borders, and rampant corruption.

Vietnam’s Role: Transit Point and Market Pressure

Vietnam’s position as both a transit hub and consumer market has placed it in the spotlight. While the country has strengthened its wildlife protection laws in recent years, large-scale ivory trafficking continues to pass through its ports, often en route to China or domestic black markets.

The volume of seizures in Vietnam reflects both increased enforcement efforts and the country’s central role in regional trafficking networks, despite national and international bans.

As Vietnam continues to integrate with the global economy and enhance its environmental credentials, it faces growing international pressure to strengthen wildlife protection and play a leading role in ending the ivory trade once and for all.

Trafficking Hotspots and Systemic Challenges

Hong Kong and Singapore continue to serve as major transshipment hubs due to their strategic locations and high shipping volumes, while countries like Mozambique and Nigeria—both major sources of poached ivory—struggle with systemic enforcement barriers and limited resources.

Even with domestic ivory bans now in place in key markets like China and Hong Kong, well-funded trafficking networks remain active and agile, often adapting quickly to enforcement changes and exploiting legal loopholes.

The Call for Coordinated Global Action

This alarming data serves as a stark reminder of the urgent need for coordinated international action. Conservation experts are calling for:

Stronger enforcement mechanisms and cross-border cooperation
Tougher penalties for traffickers
Greater investment in anti-poaching technology
Demand reduction campaigns to change consumer behavior

Efforts to combat the illegal ivory trade must also address the root causes, including poverty, corruption, and weak governance in source countries.

A Shared Responsibility

The fight against wildlife crime is not one that any country can tackle alone. The illegal ivory trade remains a multi-billion-dollar global enterprise, threatening not just elephants but also regional security and rule of law.

As Vietnam continues to integrate with the global economy and enhance its environmental credentials, it faces growing international pressure to strengthen wildlife protection and play a leading role in ending the ivory trade once and for all.

Vietnam Insider will continue to follow developments on wildlife trafficking and environmental enforcement in Vietnam and across Southeast Asia.

Vietnam Weather Outlook: Rain and Thunderstorms Return to Hanoi and the North, Summer Heat Builds Elsewhere

Advertisements

Hanoi, May 14 – After several days of intense sunshine, northern Vietnam—including Hanoi—is set to experience a wave of rain and thunderstorms, with conditions expected to be most active during late afternoons and evenings over the next 10 days. Meanwhile, central and southern parts of the country continue to see a mix of scattered showers and rising temperatures, with localized weather risks in mountainous regions.

Northern Vietnam: Rain Returns with Storm Warnings

Starting today, May 14, scattered showers and thunderstorms will return to the Northwest and Northeast, with rainfall amounts ranging between 10–20mm, and some areas receiving more than 50mm. The showers will intensify between May 15–18, particularly in low-lying and mountainous areas, increasing the risk of localized flooding, landslides, and hail.

In Hanoi, daytime highs today are expected to reach 31–33°C, followed by scattered evening storms. The next three days (May 15–17) will see frequent rain and thunderstorms, bringing daytime highs down to 30°C. However, from May 18–19, the capital will heat up again with temperatures climbing back to 33°C, before turning dry and increasingly hot between May 20–23, with highs reaching 34°C.

Central Vietnam: A Mixed Pattern of Heat and Rain

From Thanh Hoa to Hue, daytime weather will remain mostly sunny, while evening thunderstorms are expected to be scattered, with temperatures peaking at 29–32°C.

In Da Nang and provinces down to Binh Thuan, scattered showers are forecast for the late afternoon and evening, particularly in northern coastal areas on May 16. Temperatures will hover between 31–34°C, with a heightened risk of thunderstorms bringing lightning, hail, and gusty winds.

Central Highlands and Southern Vietnam: Wet Afternoons Continue

The Central Highlands and Southern Vietnam will continue to experience their typical afternoon and evening thunderstorms over the next 10 days. In provinces such as Gia Lai and Dak Nong, rainfall totals have already topped 60mm in isolated areas this week. Heavy rain is forecast to persist, particularly from May 16–18, bringing risks of flooding, landslides, and subsidence, especially in the districts of Chư Păh, Chư Prông, Mang Yang, and Pleiku.

In the South, including Ho Chi Minh City, daily highs will range from 32–35°C, with scattered thunderstorms likely in the evenings. Notably, Hóc Môn recorded 68.4mm of rain overnight.

National Outlook: Stay Alert for Storms and Heat

May 15–18: Widespread thunderstorms expected in North and North Central Vietnam, especially at night.
May 19–20: Onset of heatwave conditions in North Central and Central Vietnam.
May 20–23: Hanoi and the North transition into a dry, sunny pattern with rising heat.

Throughout the South and Highlands: Continued pattern of humid mornings, scattered showers, and evening thunderstorms.

Safety Advisory

The National Center for Hydro-Meteorological Forecasting advises residents in storm-prone areas to:

Avoid outdoor activities during thunderstorms
Secure power lines and electrical devices
Avoid sheltering under tall trees during lightning
Watch for road flooding, fallen debris, and landslides in mountainous areas

Vietnam Insider will continue to monitor and provide updates on severe weather alerts throughout the country. Stay safe, stay informed, and plan your travels accordingly.

“Sell in May”? Why Global Investors Should Think Twice in Today’s Market

Advertisements

May 13 – Vietnam Insider – As May unfolds, so does one of the most persistent maxims in financial circles: “Sell in May and go away.” A phrase steeped in tradition and whispered across trading floors for decades, it warns investors to exit the market during summer’s lull and return in September. But in a world of 24/7 trading and cross-border capital flows, is this old adage still relevant for modern investors?

The Origin: A Gentleman’s Summer Tradition

The phrase originates from 19th-century London, in its full form: “Sell in May and go away; come back on St. Leger’s Day.” This reflected the seasonal rhythm of Britain’s upper-class investors who would retreat from London to the countryside during the summer, returning only in September for the St. Leger Stakes horse race.

When the mantra crossed the Atlantic to Wall Street, it was simplified—but the sentiment remained. Summer trading volumes would dwindle as fund managers decamped to the Hamptons, leading to what traders dubbed the “summer doldrums.” Historically, this period saw weaker returns, with July and August often underperforming relative to other months.

The New Market Reality

But times have changed. As ROX Capital points out in its latest report, the seasonal effect has lost its power in today’s globalized and digitized markets. Despite the saying’s popularity, data shows that 74% of “May to September” periods over the past decades have actually posted positive returns, averaging a 4.2% gain.

So what’s driving the shift?

Electronic trading and automated fund flows ensure constant liquidity.
Global investors don’t take the summer off anymore.
Macroeconomic events now have far more influence than seasonal patterns.

From the 2008 financial crisis to COVID-19 and the era of stimulus-fueled recoveries, markets have shown time and again that opportunity can arise in any season. Summer 2020, for example, marked one of the strongest rallies in recent memory, as stimulus packages revived global equity markets.

Beware of Nostalgia Investing

Duong Ngoc Dung, Deputy CEO of ROX Capital, cautions investors against relying on seasonal clichés. “Some of the strongest gains happen right after major declines. If you’re out of the market waiting for September, you might miss the recovery,” he says.
Indeed, modern investing requires more than just following calendar-based folklore. It demands close attention to macroeconomic indicators; policy shifts, earnings cycles, valuation and momentum signals

Blindly following “Sell in May” today may lead investors to miss golden opportunities, particularly in volatile and fast-moving environments.

Adaptation Over Tradition

In a market driven by AI trading algorithms, real-time news, and global geopolitics, static investment strategies are being replaced by agile, data-driven decision making.

“Sell in May” may still hold nostalgic value, but as an investment strategy, it belongs more in the archives of financial folklore than in the modern investor’s playbook. As Vietnam continues to attract international capital and integrate deeper into global markets, understanding the pulse of the economy matters more than ever.

Bottom line for investors? The market doesn’t pause for summer anymore. Instead of walking away, stay informed, stay flexible, and stay invested—because the best opportunities may come when others are looking the other way.

Da Nang Invests Over $4 Million to Upgrade An Thuong Walking Street for Foreign Visitors

Advertisements

(Vietnam Insider) Da Nang, May 13 – In a major push to enhance its appeal to international tourists, the city of Da Nang has announced a VND 104 billion (approx. USD 4.1 million) investment into the second phase of its An Thuong Tourism Street Project, often referred to as the city’s own “Western Walking Street.”

Located in My An Ward, Ngu Hanh Son District, the project aims to transform the An Thuong area into a vibrant hub of day-and-night entertainment, culture, and shopping—catering especially to the growing number of foreign visitors and expats in Da Nang.

Water Music Stage and Urban Upgrades

According to the city’s People’s Committee, the Phase 2 investment—expected to be completed by 2027—will include a wide array of enhancements:

A central plaza with integrated sports and fitness facilities
An open-air stage, seating areas, and a synchronized water music floor
Upgraded green spaces, outdoor gym equipment, and decorative lighting
Improved sidewalks, telecom infrastructure, and street furniture

Expansion of three key roads in the An Thuong area from 3.5 meters to 5.5 meters wide, with stone paving and comprehensive lighting systems

One of the most anticipated features is the interactive water music platform, designed to be a focal point for performances and public gatherings—similar to the attraction currently located in the city’s 29/3 Square.

A Strategic Move to Boost Cultural Tourism

Da Nang authorities emphasized that the upgraded walking street will provide new public space for cultural events, live music, and recreational activities—creating a dynamic atmosphere for both tourists and locals.

Originally launched in 2018, the An Thuong Tourism Street—also known as “Pho Tay An Thuong” (Western Street)—quickly became a favorite hangout spot for expats, backpackers, and beachgoers thanks to its international restaurants, cafes, and nightlife venues.
In April 2022, the first phase of the project introduced pedestrian zones, a night market, and connections to My An Night Beach, positioning the area as a must-visit evening destination.

A Fresh Step Forward for Da Nang Tourism

This new phase marks another bold step in Da Nang’s broader tourism strategy, which seeks to solidify the city’s position as a premier coastal destination in Southeast Asia. As international arrivals surge post-pandemic, the city is capitalizing on its urban charm, stunning beaches, and laid-back lifestyle to attract long-term visitors and digital nomads.

With the An Thuong Walking Street upgrade, Da Nang is not only elevating its tourism infrastructure but also reaffirming its commitment to creating a welcoming, world-class destination for foreign travelers.

Former Head of Vietnam’s Food Safety Authority Arrested in Major Fake Supplement Scandal

Advertisements

(Vietnam Insider) Hanoi, May 13 – In a dramatic escalation of a high-profile investigation, Nguyen Thanh Phong, former Director General of Vietnam’s Food Safety Authority under the Ministry of Health, has been arrested and charged with bribery, alongside four other officials. The arrests are part of an ongoing probe into a massive case involving the production and distribution of hundreds of tons of counterfeit dietary supplements.

According to the Ministry of Public Security’s Economic and Corruption Crime Investigation Police Department (C03), the former food safety chief and his colleagues are accused of accepting bribes to facilitate approvals and certifications for factories involved in the illegal operation.

The other four officials facing charges include Dinh Quang Minh, Director of the Food Safety Training and Application Center; Nguyen Thi Minh Hai, Deputy Director of the same center; Le Thi Hien, Senior Specialist and Cao Van Trung, Deputy Head of the Food Poisoning Surveillance Division.

While Ms. Hai has been placed under house arrest, the remaining four individuals have been detained pending investigation.

A Systemic Breakdown in Food Safety Oversight

Investigators revealed that the officials intentionally reduced violations found during inspections, advised companies on how to manipulate compliance, and delayed enforcement actions in exchange for illicit payments.

These actions enabled Nguyen Nang Manh, Chairman of MEDIUSA and Director of MegaPhaco, to obtain over 20 product registration certificates and four food safety certifications for factories producing fake supplements. The companies targeted vulnerable consumers, including elderly people and children, using low-quality, unapproved ingredients—some sourced from China and falsely labeled as being from the U.S. or Europe.

Authorities say many of these counterfeit products contained less than 30% of the claimed active ingredients, posing serious public health risks.

100 Tons of Fake Products Seized

The scandal came to light after an extensive investigation into multiple companies operated by Manh and his associates, including MediPhar and Viet Duc. When police raided the production facilities, they seized nearly 100 tons of fake dietary supplements.

The criminal network also ran dual accounting systems to evade taxes and hide profits. At least six companies were involved in the financial fraud, leading to major losses in state tax revenues, officials said.

As the investigation intensified, the suspects attempted to destroy evidence and shut down operations, but law enforcement successfully intercepted large volumes of counterfeit goods.

A Major Blow to Public Trust

Nguyen Thanh Phong served as Director General of the Food Safety Authority for two consecutive terms from 2015 to late 2024, during which he oversaw the enforcement of food safety regulations nationwide. His arrest sends shockwaves through Vietnam’s public health sector and raises serious questions about regulatory integrity and oversight failures.

The Ministry of Public Security emphasized that the investigation is ongoing and may expand to other individuals or entities involved in the scheme. The case marks one of the largest food safety corruption scandals in Vietnam’s recent history.

Vietnam Insider will continue to provide updates as more details emerge in this unfolding investigation.

Over 800 Bankruptcies in One Month as World’s 4th Largest Economy Struggles

Advertisements

(Vietnam Insider) Tokyo, May 12 – Japan, the world’s fourth-largest economy, is facing a deepening economic crisis, as a surge in corporate bankruptcies, labor shortages, and inflationary pressure shake the foundations of its once-stable business environment.

According to Tokyo Shoko Research, more than 800 Japanese companies declared bankruptcy in April 2025, each with liabilities exceeding 10 million yen (approximately $68,100). The figure marks a 5.7% increase year-on-year, driven largely by small and medium-sized enterprises (SMEs) that have been unable to withstand rising costs and a chronic shortage of workers.

Services, Construction, and Retail Hit Hardest

The services sector experienced the worst impact, with 292 bankruptcies—the highest ever recorded in April. The construction industry saw 152 cases, a 4.1% rise, while retail recorded a staggering 32.5% jump with 106 companies going under.

Labor shortages are playing an increasingly damaging role. In April, 36 businesses failed due to a lack of workers, up from 25 a year earlier. Meanwhile, 56 bankruptcies were directly linked to inflation, underscoring the dual threat of rising wages and operational costs.

Experts say the burden is especially severe for SMEs still saddled with pandemic-era debts, now facing renewed pressure from inflation and reduced consumer spending.

Business Confidence Falters as Tariffs and China Slowdown Bite

Japan’s manufacturing sector is also losing momentum. According to the Bank of Japan’s Tankan survey of 9,000 companies, business sentiment among large manufacturers declined for the first time, citing U.S. tariffs and a slowing Chinese economy.

The Diffusion Index (DI) for sentiment dropped from +14 in December 2024 to +12 in March 2025, with steel producers hit hardest, falling to –18, after the U.S. imposed a 25% tariff on steel and aluminum imports in March.

Labor shortage figures are equally concerning. The Tankan survey reported a –37 score, reflecting a severe workforce imbalance. The problem is especially acute for small businesses, where low margins make it harder to raise wages and retain talent.

Here is a comparative infographic showing Japan’s economic performance in Q1 2025 alongside other G7 countries. The data highlights Japan’s relatively low GDP growth, moderate inflation, very low unemployment, and the highest currency depreciation against the USD—offering a visual context for Japan’s current economic vulnerabilities.

Over 10,000 Firms Collapsed in FY2024

The full picture is even bleaker. Tokyo Shoko Research revealed that over 10,000 businesses went bankrupt in fiscal year 2024, the highest figure in 11 years. A total of 10,144 bankruptcies involved debts of at least 10 million yen—a 12.1% increase from the previous year.

Alongside inflation and labor shortages, the weak yen has worsened the talent crisis. Many foreign workers are now hesitant to remain in Japan, citing stagnant wages and declining purchasing power. According to a 2024 Mynavi Global survey, 91% of foreign students and workers said they planned to stay in Japan—a 5.8-point drop from 2022.

Workers Feel the Squeeze

Take Spandan Sunar, a 27-year-old Nepali working in Chiba. He once sent home 50,000 yen per month to his family, but rising costs now require him to send 80,000 yen—a burden he’s struggling to afford. “Foreigners working in Japan are battling with low incomes,” Sunar said, comparing his situation to friends earning better in the U.S. or Australia.

The salary stagnation issue has broader implications. Companies like Bears, a household services provider that depends on skilled workers from the Philippines, raised service fees by 20% in 2024—the first hike in 18 years—just to cover increased wage demands. But many SMEs cannot afford such adjustments, pushing them closer to collapse.

Future at Stake: Can Japan Retain Global Talent?

Yamazaki, deputy director at Career-tatsu, warns that if wages remain stagnant while the yen weakens, Japan may lose its appeal to international workers, particularly in fields like IT and technology, where demand is high.

Kevin Naylor, executive at Future Manager World USA, notes that foreign professionals are often overlooked in favor of locals or foreign residents already living in Japan. Meanwhile, Luke Furnival of Robert Walters Japan says the expectation gap between foreign candidates and Japanese employers has widened, requiring constant mediation.

As Japan grapples with inflation, labor shortages, trade friction, and a weakening currency, its economic foundation is being tested like never before. For the world’s fourth-largest economy, the coming months will be critical in determining whether it can adapt or continue to decline in the face of mounting domestic and global challenges.