Vietnam Economic News: 30.5 - 6.6.2026
Summary of Vietnam Economic News: 30.5 - 6.6.2026
---
Summary of Vietnam Economic News: 30.5 - 6.6.2026 ---
VIETNAM SAYS USTR FORCED LABOUR CONCLUSION DOES NOT REFLECT ITS EFFORTS
Reuters News – 4 June 2026
Vietnam's foreign ministry said on Thursday that the U.S. Trade Representative's conclusion that the country had failed to curb trade in goods made with forced labour does not fully or accurately reflect Vietnam's efforts to address the issue. Vietnam's policy strictly prohibits all forms of forced labour and complies with the standards of the International Labour Organization, foreign ministry spokesperson Pham Thu Hang said at a regular press briefing in Hanoi. Earlier this week, the Trump administration proposed tariffs of up to 12.5% on imports from 60 countries, including Vietnam, after determining that they had failed to prevent trade in goods produced with forced labour — a claim that U.S. trading partners have rejected. The investigation came amid a surge in Vietnam's exports to the United States. According to U.S. data, the U.S. trade deficit with Vietnam reached $54.8 billion in the first three months of this year, second only to Taiwan and exceeding deficits with major exporters China and Mexico. The Trump administration has repeatedly stated that reducing trade deficits is a key policy objective. "Vietnam has been and will continue to engage with the United States in a constructive and cooperative manner to resolve existing differences, while safeguarding the legitimate interests of workers and businesses," Hang said. Vietnam has also come under scrutiny from the Trump administration over allegations that it distorts trade through excess industrial capacity, intellectual property violations, and the use of goods produced with forced labour.
VIETNAM EXTENDS ANTI-DUMPING DUTIES ON SOME THAI SUGAR PRODUCTS TO 2031
Reuters News – 29 May 2026
Vietnam has extended anti-dumping and anti-subsidy duties on certain sugar imports from Thailand for another five years, the Ministry of Industry and Trade said in a statement on Wednesday, keeping the measures in place until mid-2031. The decision, which takes effect on June 16, follows a sunset review that found dumping and subsidisation of Thai sugar would likely continue or recur if the duties were removed, causing continued harm to Vietnam's domestic sugar industry, the ministry said. The current measures, imposed in 2023, are due to expire on June 15. Under the extended duties, Thai producers affiliated with the Mitr Phol Group will face an anti-dumping duty of 32.75%, with no countervailing duty applied. Companies in the Thai Roong Ruang Group will be subject to an anti-dumping duty of 25.73% and a countervailing duty of 4.65%. All other Thai exporters will face the highest combined rates, with anti-dumping duties of 42.99% and countervailing duties of 4.65%, the statement said. The measures apply to sugar products classified under six harmonised system codes, including both raw and refined cane sugar.
The ministry said it would continue coordinating with customs authorities to monitor imports and prevent attempts to circumvent the duties.
VINROBOTICS MAKES GLOBAL DEBUT OF 'MAKE IN VIETNAM' HUMANOID ROBOT AT LEADING GLOBAL TECH EVENTS
Dow Jones Newswires – 3 June 2026
VinRobotics, a technology company under Vingroup, showcased its third-generation humanoid robot, VR-H3, at several major international technology and robotics events, including the IEEE International Conference on Robotics and Automation (ICRA) 2026 and COMPUTEX Taipei 2026. The robot drew attention for its stable operation in crowded and outdoor environments, agile mobility, and ability to perform dexterous manipulation tasks. Developed entirely by Vietnamese engineers, VR-H3 incorporates in-house technologies spanning mechanical design, AI control systems, computing architecture, and power systems. Equipped with more than 31 actuators and two onboard edge computers, the robot can interact with humans, carry loads of up to 8 kg, transport objects, and perform assembly tasks. Alongside demonstrations, VinRobotics participated in technical discussions with industry leaders including Google DeepMind, NVIDIA and Boston Dynamics, highlighting its broader robotics ecosystem and plans to gradually open-source selected foundational technologies. The company's participation in global forums underscores the growing presence of Vietnamese technology firms in the rapidly expanding fields of robotics and embodied AI.
VIETNAM INFLATION ACCELERATES IN MAY, TRADE DEFICIT WIDENS TO RECORD HIGH
Reuters News – 3 June 2026
Vietnam's inflation rate accelerated in May while the country's trade deficit widened to a record high, reflecting the impact of rising energy costs linked to the Iran conflict. Consumer prices rose 5.6% in May from a year earlier, up from 5.46% in April, as higher fuel prices increased import costs, according to the National Statistics Office (NSO). Exports in May rose 18% year-on-year to $46.93 billion, while imports surged 33.8% to $52.14 billion, resulting in a record monthly trade deficit of $5.21 billion, compared with a $3.28 billion deficit in April. For the first five months of the year, exports increased 19.5% to $215.66 billion and imports climbed 30.8% to $229.46 billion, leaving a cumulative trade deficit of $13.8 billion. Rising energy costs contributed to the imbalance, with imports of refined petroleum products jumping 81.6% in value and liquefied gas imports rising 40.6%, despite a decline in crude oil import volumes. Meanwhile, industrial production growth slowed to 8.8% in May from 9.9% in April, while retail sales rose 11.8% from a year earlier. Foreign direct investment inflows reached $9.75 billion in the January-May period, up 9.6% from a year earlier.