Vietnam Economic News: 23.8 – 30.8.2025
Summary of Vietnam Economic News: 23.8 - 30.8.2025
---
Summary of Vietnam Economic News: 23.8 - 30.8.2025 ---
VIETNAM ANNOUNCES NATIONAL DAY CASH HANDOUTS WORTH $380 MLN
Reuters News – 29 August 2025
Vietnam will hand out 100,000 dong ($3.80) to every one of its citizens to mark National Day on September 2, the government said, in a package that could cost the country as much as $380 million. The unprecedented move "continues to demonstrate the deep concern of the Party and State for all people," the government said in a statement Thursday night. The money could be transferred to people's bank accounts or paid in cash, and the central bank and finance ministry have been instructed to complete the payments before National Day on Tuesday next week, the statement said. Vietnam's average worker salary rose 8.6% last year to 7.7 million dong per month, according to official data. The capital Hanoi is preparing to host Vietnam's largest National Day parade in decades next week as the country celebrates the 80th anniversary of its declaration of independence. State media reports said public transport in Hanoi and the business hub Ho Chi Minh City will also be free of charge on the day. ($1 = 26,300 dong)
VINFAST DELIVERS LAC HONG FLEET FOR INTERNATIONAL LEADERS AT VIETNAM’S 80TH NATIONAL DAY CELEBRATION
Dow Jones Newswires – 28 August 2025
VinFast has officially handed over a special fleet of Lac Hong 900 LX vehicles, built to serve international heads of state, to Vietnam's Ministry of Foreign Affairs at the celebration of the 80th anniversary of Vietnam's National Day (September 2, 1945 - September 2, 2025). The Lac Hong 900 LX is a limited-edition flagship model that embodies Vietnam's cultural heritage and national pride, symbolizing the "Fierce Vietnamese Spirit." The vehicle is offered in two variants, including an armoured edition certified to the VPAM VR7 standard - the world's most stringent protection levels for state leaders' vehicles. Inspired by the Vietnamese legend of the "Descendants of the Dragon and Fairy", the Lac Hong 900 LX reflects the capability, intelligence, and aspirations of the Vietnamese people in the new era. Every design detail blends cultural legacy with global standards. Both variants, Standard and Armoured, feature a commanding and luxury presence with a 3,349 mm wheelbase and exterior details celebrating Vietnam's heritage: a gold-plated logo shaped like the mythical Lac bird, a grille reminiscent of Dong Son bronze drums, and parallel grille bars symbolizing Vietnam's iconic bamboo groves. The first fleet of Lac Hong 900 LX delivered to Vietnam's Ministry of Foreign Affairs includes two Armoured units and ten Standard units, affirming the vehicles' quality, safety, and craftsmanship at the highest international level. The debut of this special vehicle line, rich in national identity, at the historic celebration of the 80th anniversary of Vietnam's National Day, is a powerful declaration of Vietnamese spirit, intelligence, and class. Every movement of the Lac Hong 900 LX serves not only as proof of the country's industrial and technological achievements after 80 years of independence, but also as a national symbol, helping to shape a new position for Vietnam on the international stage.
COPENHAGEN INFRASTRUCTURE SIGNS VIETNAM OFFSHORE WIND POWER DEAL
Reuters News – 27 August 2025
Copenhagen Infrastructure Partners (CIP) said on Wednesday it has signed an agreement with state-owned Petrovietnam to develop one of Vietnam's first offshore wind projects, with the aim of boosting the country's renewable energy output. The project is in an early development phase and subject to relevant regulatory approvals, the Danish investment firm said in a statement. CIP is developing the project together with Copenhagen Offshore Partners, it added.
AMAZON AIMING TO DEPLOY KUIPER SATELLITE SERVICES IN VIETNAM
Reuters News – 27 August 2025
Amazon is aiming to deploy its Kuiper satellite services in Vietnam, Vietnam's Ministry of Science and Technology said in a statement. The statement from late on Tuesday came after a meeting in Hanoi between deputy minister Pham Duc Long and Gonzalo de Dios, head of Global Licensing and Project Kuiper at Amazon. The U.S.-based tech giant has pledged to invest $570 million by 2030 to build infrastructure, including up to six ground stations and terminal manufacturing in the northern province of Bac Ninh through local partnerships, the ministry said. Amazon has also established a Vietnamese entity, Amazon Kuiper Vietnam Co., Ltd., based in business hub Ho Chi Minh City, and submitted an application for low Earth orbit satellite services. Amazon's Kuiper initiative aims to deliver broadband internet services via low Earth orbit satellites, targeting underserved areas in remote regions and on islands, the ministry said. The company's pilot programme application is seeking approval for a five-year rollout to serve consumer, business, and government subscribers. Rival Starlink has also been given the go-ahead by the government to operate a similar scheme in Vietnam over the same five-year period. In April, the first 27 satellites for Amazon's Kuiper initiative were launched into space from Florida, kicking off the long-delayed deployment of an internet-from-space network.
VIETNAM TO MAKE SWITCH TO ETHANOL-BLENDED FUEL IN MOVE TO BOOST U.S. IMPORTS
Vietnam News – 27 August 2025
Vietnam is planning to switch completely to ethanol-blended gasoline from next year, opening up the possibility for the country to import more ethanol and corn from the United States. The Ministry of Industry and Trade has submitted a proposal to the government to switch to E10 - a blend that mixes gasoline with up to 10% of bioethanol, according to ministry documents reviewed by Reuters. It currently uses the RON95 and RON92 unleaded gasoline standards. The switch will pave the way for the import of American ethanol and corn to Vietnam as the country seeks to narrow its trade gap with the United States, its largest export market, according to one document. "This is one of the quick and effective solutions to increase the imports of goods from the United States, reducing the surplus," it said. The United States recorded a trade deficit of $123 billion with Vietnam last year, one of its highest globally. Vietnam in March cut its import tariff on ethanol to 5% from 10%. Donald Trump said last month that Vietnam could import U.S. products with zero tariffs. Vietnam, which consumes less than 30 million tons of petroleum products per year, has also pledged to boost imports of other American products, including airplanes, LNG, crude oil and farm produce. Vietnam's customs data showed imports from the United States in the first seven months of this year rose 22.7% to $10.54 billion, but fuels and corn were not listed specifically among the imports. The country currently has six ethanol plants with a combined capacity of 600,000 cubic metres a year, meeting around 40% of the demand for E10 gasoline production, one of the documents showed. The documents also said using E10 gasoline would help reduce carbon emissions and align with the country's net zero targets. Vietnam pledged to become carbon neutral by 2050 at the United Nations climate conference in Glasgow (COP26) in November 2021.