Vietnam Economic News: 26.9 - 03.10.2026
Summary of Vietnam Economic News: 26.9 - 03.10.2026
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Summary of Vietnam Economic News: 26.9 - 03.10.2026 ---
VIETNAM’S QUARTERLY GDP GROWS FASTEST IN 4 YEARS AS EXPORTS BOOM
Reuters News – 3 October 2026
Vietnam’s GDP grew 9.95% year-on-year in Q3, the fastest quarterly growth since the COVID-19 pandemic, driven by strong exports, infrastructure investment and industrial production. However, rising energy costs contributed to a record $19.42 billion trade deficit in the first nine months, as imports increased faster than exports. Inflation also accelerated to 5.08% in September, while total investment rose 16.7% and foreign investment inflows increased 12.1% to $21.1 billion. Although the Asian Development Bank expects robust near-term growth supported by manufacturing, domestic consumption and FDI, analysts warn that weaker global demand, higher energy prices, tighter financial conditions, inflation and potential electricity shortages could create risks to Vietnam’s longer-term growth and economic stability.
VIETNAM EXTENDS FUEL TAX RELIEF MEASURES UNTIL END-2026
Reuters News – 1 October 2026
Vietnam is extending a package of fuel-tax relief measures through the end of 2026 to help stabilise the domestic energy market amid supply concerns linked to the war in the Middle East. The measures are aimed at strengthening energy security, containing inflation, supporting business activity and allowing companies to diversify fuel import sources. Under a resolution signed on September 30, reduced import tariffs on gasoline, diesel, fuel oil, jet fuel and key refinery feedstocks will remain in place until December 31, with the preferential import duty on gasoline cut to 0% from 10%, while tariffs on diesel, fuel oil, kerosene and jet fuel remain at 0% instead of 7%. Environmental protection and value-added tax rates on gasoline and petroleum products will also remain at zero through the end of 2026. The measures, first introduced in March, have been extended several times as the government seeks to manage energy costs and supply risks.
FITCH RATINGS: VIETNAM BANKS’ CAPITALISATION TO BE STEADY AMID USD 6.9BN CAPITAL DRIVE
Dow Jones Newswires – 29 September 2026
Fitch Ratings expects major Vietnamese banks to raise more than US$6.9 billion in equity by the end of 2027, marking the largest capital-raising effort on record as banks prepare for rapid growth and tighter regulatory capital requirements. System-wide loan growth is expected to remain strong at around 18–19% in 2026 and 2027, with some large and medium-sized banks targeting annual credit growth of 30–35%, likely outpacing their ability to generate capital internally. While the additional equity should strengthen banks’ capitalisation, Fitch does not expect significant improvements in most banks’ capital ratios because much of the new capital will be used to support rapid loan expansion. Banks are also preparing for the phased implementation of higher capital requirements under Circular 14/2025, with most rated banks expected to comply by 2030. Fitch identifies capitalisation and risk profiles as the main weaknesses in Vietnamese banks’ ratings, although improvements that are material and sustainable could support higher Viability Ratings.
USD 136.3BN INVESTMENT WAVE OPENS A HISTORIC OPPORTUNITY FOR VIETNAM’S ENERGY EQUIPMENT MARKET
Reuters News – 3 October 2026
Vietnam’s US$136.3 billion energy investment pipeline through 2030 is creating a major opportunity for the country’s energy equipment and technology market, as rising electricity demand drives large-scale investment in power generation, transmission, renewable energy and energy storage. Under the revised PDP8, Vietnam is expected to require around US$118.2 billion for power generation and US$18.1 billion for transmission, while also targeting 10,000–16,300 MW of battery storage and the construction of more than 28,000 km of new 500 kV and 220 kV transmission lines. These projects are expected to significantly increase demand for power equipment, substations, protection and control systems, engineering services, digitalised grid technologies and energy storage solutions. With many LNG, renewable energy, transmission and storage projects moving toward implementation between 2026 and 2030, the investment wave presents substantial opportunities for both domestic companies and international technology and equipment suppliers.
DENMARK’S PANDORA OPENS WORLD’S LARGEST JEWELLERY FACTORY IN VIETNAM
Reuters News – 1 October 2026
Pandora has opened a US$150 million jewellery factory in Ho Chi Minh City, its largest manufacturing facility and first production site outside Thailand, as part of its strategy to diversify production and strengthen supply-chain resilience. The factory is expected to increase Pandora’s global manufacturing capacity by around 50% and employ 7,000 workers when fully operational, with annual production capacity of up to 60 million pieces. Vietnam is expected to account for around 15% of Pandora’s global capacity initially and about one-third by 2030. The company selected Vietnam for its skilled workforce, jewellery-making tradition, infrastructure and supportive business environment, while the facility will also support Pandora’s expansion into platinum-plated jewellery and reduce its exposure to fluctuations in silver prices. The factory will operate entirely on renewable electricity, use recycled silver and gold, and has achieved LEED Gold certification, highlighting Vietnam’s growing role as a manufacturing and investment hub for global companies.