Vietnam Economic News: 18.10 - 25.10.2025
Summary of Vietnam Economic News: 18.10 - 25.10.2025
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Summary of Vietnam Economic News: 18.10 - 25.10.2025 ---
VIETNAM CONFIRMS 2 NEW DEPUTY PRIME MINISTERS AND 3 MINISTERS
Reuters News – 25 October 2025
Vietnam's National Assembly, the country's lawmaking body, confirmed on Saturday the appointments of two new deputy prime ministers and three ministers, state media reported. The additional deputy prime ministers include former minister of home affairs Pham Thi Thanh Tra and former Communist Party chief of Gia Lai province Ho Quoc Dung, the Vietnam News Agency reported. This has raised the number of deputy prime ministers in the country's government to nine. The assembly also confirmed on the appointments of the ministers of foreign affairs and agriculture and home affairs. The National Assembly began its final session of the year on Monday, which will last until December 11. The session precedes a five-yearly congress of Vietnam's Communist Party in January that will define the country's main strategies and policies for the next five years and is also expected to pick a new team of leaders.
UN CYBERCRIME TREATY TO BE SIGNED IN HANOI TO TACKLE GLOBAL OFFENCES
Reuters News – 25 October 2025
A landmark U.N. cybercrime treaty, aimed at tackling offences that cost the global economy trillions of dollars annually, is set to be signed in Vietnam's capital Hanoi by around 60 countries over the weekend. The convention, which will take effect after it is ratified by 40 nations, is expected to streamline international cooperation against cybercrime, but has been criticised by activists and tech companies over concerns of possible human rights abuses. "Cyberspace has become fertile ground for criminals every day, sophisticated scams defraud families, steal livelihoods, and drain billions of dollars from our economies," U.N. Secretary-General Antonio Guterres said at the opening ceremony. "The U.N. Cybercrime Convention is a powerful, legally binding instrument to strengthen our collective defences against cybercrime." The convention targets a broad spectrum of offences from phishing and ransomware to online trafficking and hate speech, the U.N. has said, citing estimates that cybercrime costs the global economy trillions of dollars each year. Vietnam President Luong Cuong said the signing of the convention "not only marks the birth of a global legal instrument, but also affirms the enduring vitality of multilateralism, where countries overcome differences and are willing to shoulder responsibilities together for the common interests of peace, security, stability and development." Critics have warned its vague definition of crime could enable abuse. The Cybersecurity Tech Accord, which includes Meta and Microsoft, has dubbed the pact a "surveillance treaty," saying it may facilitate data sharing among governments and criminalise ethical hackers who test systems for vulnerabilities. The U.N. Office on Drugs and Crime (UNODC), which led the treaty negotiations, said the agreement includes provisions to protect human rights and promotes legitimate research activities. The European Union, the United States and Canada sent diplomats and officials to sign the treaty in Hanoi. Vietnam's role as host has also stirred controversy. The U.S. State Department recently flagged "significant human rights issues" in the country, including online censorship. Human Rights Watch says at least 40 people have been arrested this year, including for expressing dissent online. Vietnam views the treaty as an opportunity to enhance its global standing and cyber defences amid rising attacks on critical infrastructure.
BRITAIN, VIETNAM TO UPGRADE TIES AS COMMUNIST LEADER VISITS LONDON
Reuters News – 23 October 2025
Britain is set to upgrade diplomatic ties with Vietnam next week as Prime Minister Keir Starmer meets Communist Party chief To Lam in London. Ties will be raised to Vietnam's highest tier of a strategic comprehensive partnership, the official said, speaking on condition of anonymity, matching those with China, Russia, the United States and France. Prime Minister Keir Starmer will meet To Lam at Downing Street on Wednesday to exchange cooperation documents and issue a joint statement on the upgrade. Plans for a meeting with King Charles await confirmation. Vietnam's most powerful leader, To Lam has taken a central role in shaping foreign policy since becoming party chief last year, an effort previously led by the president and prime minister. Lam will also visit Oxford University on Thursday for the signing of pacts on health and education. A strategic comprehensive partnership, up from the current level of strategic partners, usually entails more frequent meetings and closer ties on areas of common interest. The party chief To Lam has visited Finland and Bulgaria.
JAPAN WARNS VIETNAM OF JOB LOSSES AS HANOI MOTORBIKE BAN HITS HONDA
Reuters News – 21 October 2025
The Japanese government and some of the nation's top manufacturers have warned Vietnam that a planned ban on petrol-powered motorbikes in Hanoi could spark job losses and disrupt a $4.6 billion market that is dominated by Honda. In July, Vietnamese Prime Minister Pham Minh Chinh issued a directive prohibiting petrol motorbikes from entering the centre of the capital from the middle of 2026, as the country seeks to reduce high levels of air pollution. Broader restrictions are due in 2028 and bans are expected to spread to other parts of the country. In response, the Japanese embassy in Hanoi sent a letter to Vietnamese authorities saying a sudden ban could "affect employment in supporting industries" such as motorcycle dealers and parts suppliers. The embassy also urged Vietnamese authorities to consider an "appropriate roadmap" for electrification that would include a preparation period and staged implementation of regulations.