Vietnam Economic News: 21.9 - 28.9.2025
Summary of Vietnam Economic News: 21.9 - 28.9.2025
---
Summary of Vietnam Economic News: 21.9 - 28.9.2025 ---
VIETNAM'S VPS SECURITIES PLANS IPO
Reuters News – 26 September 2025
Vietnam's VPS Securities, the country's largest securities firm by market share, will seek approval from shareholders on Monday for an initial public offering of 202.3 million shares, a company document confirmed by two company sources showed. The IPO is slated for the fourth quarter of this year or the first quarter of next year, according to the document reviewed by Reuters, which showed shareholders are set to vote on the plan at a meeting on Monday, with the price yet to be decided. One of the sources said the company was considering a price range of 60,000-70,000 dong per share. That would potentially put the value of the IPO at 12.14 trillion-14.16 trillion dong ($459.8 million-$536.3 million), making it one of Vietnam's largest IPOs in recent years. The announcement comes as the country's IPO market is heating up and signals continued investor appetite in Vietnam's capital markets. Last week, brokerage Techcom Securities, a unit of private lender Techcombank (TCB.HM), raised $410 million, valuing the company around $4 billion. The shares are planned for listing on the Ho Chi Minh Stock Exchange, according to the document.
VIETNAM'S SUN PHUQUOC AIRWAYS' FIRST FLIGHT SET FOR NOVEMBER 1
Reuters News – 25 September 2025
Vietnam's newly established Sun PhuQuoc Airways' first commercial flight is planned for November 1, the company said on Thursday. Ticket sales will open from October 15, the company's statement said, adding that it has received all necessary licences from the authorities. Sun PhuQuoc said in June that it would initially operate narrowbody Airbusjets, including the A321neo, and was also in talks with Boeing to purchase widebody aircraft, including Boeing 787-9 and 787-10 planes. It will initially operate on domestic routes, including to and from capital Hanoi, business hub Ho Chi Minh City and tourism destinations such as Phu Quoc, Danang and Quang Ninh, the airline said.
VIETNAM PM SEEKS NEW TRADE DEALS TO COUNTER US TARIFF IMPACT
Reuters News – 24 September 2025
Vietnam's prime minister said Hanoi was pursuing new trade deals this year to mitigate the impact of tariffs imposed on its goods by the United States, its largest market. The statement came days after estimates by the United Nations Development Programme showed U.S. duties risked slashing by up to one-fifth of Vietnam's exports to the United States, making it the hardest-hit country in Southeast Asia. Exports "will face difficulties and challenges due to strategic competition, conflicts and the U.S.'s 'reciprocal' tariff policies," Prime Minister Pham Minh Chinh said in a statement posted on the government's website on Wednesday. He expected exports to grow more than 12% this year. Vietnam's exports in the year to September 15 rose 15.8% from a year earlier to $325.3 billion, according to government data. To offset the impact of the U.S. duties, Vietnam aims to sign free trade agreements with Latin America's Mercosur trading bloc and Gulf Cooperation Council countries by the end of the year, Chinh said. He also reiterated that Vietnam would continue trade negotiations with the United States, after the Trump administration imposed a 20% tariff on most Vietnamese goods shipped to the country. Chinh also told officials to continue cracking down on imported goods that may violate international copyright and that may have issues with their origin, according to the statement. Both issues have been repeatedly raised by U.S. officials as major concerns in their relations with Vietnam. The White House has also imposed a 40% tariff on goods deemed to be transhipped through Vietnam. That could have a huge impact if Washington decides to set strict limits on foreign components used in exported items, given Vietnam's goods rely heavily on Chinese components.
VIETNAM PM CALLS FOR MORE HOUSING TO COOL REAL ESTATE PRICES
Reuters News – 23 September 2025
Vietnam's prime minister has called for an increase in house building in order to cool soaring real estate prices, saying that many people are no longer able to afford to buy property. "Many people are in need of housing, but they can't afford it because of high prices," state broadcaster VTV on Tuesday cited Pham Minh Chinh as saying during a Monday meeting in Hanoi. Prices for apartments in the country's major cities, including the capital Hanoi and business hub Ho Chi Minh City, have risen 5.6% so far this year to an average of 80 million dong ($3,028) per square metre, according to government data. The average annual salary of Vietnamese workers is currently 98.4 million dong, according to data from the National Statistics Office. Economists have warned of asset bubble risks, including in the real estate sector, as the government encourages a credit splurge to sustain the country's rapid economic growth. At the Monday meeting, Chinh promised to cut costs and simplify administrative procedures for real estate developers. He also told the central bank to work out policies to offer real estate loans at "reasonable interest rates", according to a separate government statement. He also told cities and provinces to speed up the development of social housing projects, which are funded by cheap loans and designed to house eligible low income earners. "Properly implementing housing policies and developing the property market will contribute to the country's rapid and sustainable economic growth, while keeping inflation under control," Chinh said. Vietnam aims to keep inflation in the range of 4.5%-5.0% this year. Consumer prices in August rose 3.24% from a year earlier, according to the statistics office. Costs for renting and construction materials rose 6.99%. Chinh said bank lending to the property market has increased recently, adding that non-performing loans are under control. ($1 = 26,416 dong)