Vietnam Economic News: 6.6 - 13.6.2026
Summary of Vietnam Economic News: 6.6 - 13.6.2026
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Summary of Vietnam Economic News: 6.6 - 13.6.2026 ---
VIETNAM POLICE BUST GROUP PLANNING LARGE-SCALE ONLINE SCAM CENTRE
Reuters News – 12 June 2026
Vietnamese authorities have disrupted an alleged attempt to establish a large-scale online scam centre in Phu Tho province, arresting four suspects—including one Chinese national and three Vietnamese—and seizing computers, mobile phones, and internet equipment before the operation became active. Police said the group, linked to fraud syndicates operating in Cambodia, had rented properties across northern Vietnam and recruited individuals with previous experience at scam centres. In a separate case, authorities in Ho Chi Minh City discovered 83 Chinese nationals who had allegedly entered Vietnam illegally from Cambodia and were preparing to launch another scam operation targeting Chinese victims. The arrests come amid growing concern over the rapid expansion of transnational scam networks across Southeast Asia, which international agencies say are exploiting cross-border movements of people, money, and technology. Separately, the Philippines repatriated 18 citizens from Vietnam and Cambodia who had reportedly been lured by false job offers and later forced to work in suspected scam or gaming hubs.
CONSORTIUM OF VIETNAMESE, THAI FIRMS TO BUILD $1.95 BLN LNG POWER PLANT IN VIETNAM
Reuters News – 10 June 2026
Vietnam's state-owned energy company Petrovietnam said a consortium comprising its subsidiary Petrovietnam Power, local engineering firm Lilama, and Thailand's B.Grimm Power will develop a $1.95 billion liquefied natural gas (LNG) power plant in central Vietnam. The 1.5-gigawatt Vung Ang III project, located in Ha Tinh province, is expected to begin commercial operations in the first quarter of 2031, Petrovietnam said in a statement on Wednesday.
The ministry said it would continue coordinating with customs authorities to monitor imports and prevent attempts to circumvent the duties.
VIETNAM ALLOWS COAL MINERS TO RAISE OUTPUT TO MEET POWER GENERATION DEMAND
Reuters News – 10 June 2026
Vietnam will allow domestic coal mining companies to increase output by up to 15% above the quotas specified in their existing licences through the end of next year to help meet rising electricity demand, the government said on Wednesday. The additional coal production will be used exclusively for power generation, as coal-fired plants remain the country's main source of electricity. The move comes as Vietnam, a regional manufacturing hub, faces higher imported energy costs linked to the Iran war, contributing to May inflation exceeding the government's full-year target. Last month, authorities warned that a heatwave had placed significant strain on the national power grid and said the situation could worsen with the expected return of the El Niño weather pattern from July. Government data showed Vietnam's coal output fell 4.2% year-on-year to 19.4 million metric tons in the first five months of 2026.
VIETNAM ORDERS AIRLINES TO ACCELERATE U.S. DEALS AS WASHINGTON TRADE PROBES MOUNT
Reuters News – 9 June 2026
Vietnam has instructed its major airlines to review the implementation of multibillion-dollar agreements with Boeing and Pratt & Whitney and explore additional import deals with U.S. companies, as Hanoi seeks to strengthen its position in trade negotiations with Washington. The directive, issued by the Ministry of Construction on June 5 following a request from the Ministry of Industry and Trade, asks Vietnam Airlines, Vietjet Air and newly launched Sun Phu Quoc Airways to report on the progress of existing agreements with U.S. partners and propose ways to increase imports of American high-tech materials and equipment. Vietnam Airlines and Vietjet have jointly ordered 250 Boeing 737 MAX aircraft, while Sun Phu Quoc Airways has contracted to purchase 40 Boeing 787-9 Dreamliners. Vietjet also has an engine supply agreement with Pratt & Whitney, part of RTX Group, for its Airbus fleet. The move comes after the Trump administration launched three investigations into Vietnam over alleged trade distortions, intellectual property violations and the use of goods produced with forced labour. Vietnam's exports to the United States have surged in recent years, with the U.S. trade deficit with Vietnam reaching $54.8 billion in the first quarter of this year, second only to Taiwan and exceeding deficits with China and Mexico, according to U.S. data.
SBV DEPUTY GOVERNOR SAYS COUNTRY WILL LEAN TOWARDS FISCAL POLICY TO MEET GROWTH TARGET
Reuters News – 8 June 2026
Vietnam will rely more heavily on expansionary fiscal policy to achieve its economic growth target, as the scope for further monetary easing has become limited, Deputy Governor of the State Bank of Vietnam Pham Thanh Ha said in remarks published by state media on Monday. Ha told Dau Tu Chung Khoan newspaper that the government would not sacrifice macroeconomic stability for rapid short-term growth and that the central bank remained committed to controlling inflation and maintaining economic stability. Vietnam is targeting GDP growth of at least 10% this year while keeping inflation at 4.5%, but inflation has accelerated and the trade deficit widened to a record high in May amid the economic impact of the Iran war. "Given that the current room for monetary policy is narrow, priority should be given to targeted expansionary fiscal policy, making fiscal policy truly a pillar for promoting high and sustainable growth," Ha said. He added that total bank lending had increased 3.83% from the end of last year as of April 21. Vietnam, which has often relied on credit expansion to support growth, is targeting credit growth of 15% in 2026.