Vietnam Economic News: 25.10 - 1.11.2025
Summary of Vietnam Economic News: 25.10 - 1.11.2025
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Summary of Vietnam Economic News: 25.10 - 1.11.2025 ---
VIETNAM'S ANCIENT TOWN HOI AN WORKS TO RESTORE TOURISM AFTER DEVASTATING FLOODS
Reuters News – 1 November 2025
Residents of Vietnam's UNESCO-listed ancient town of Hoi An began cleaning up on Saturday as floodwaters receded after days of torrential rain that caused deadly flooding and widespread damage across the central region. The deluge swamped Hoi An's lantern-lit streets and centuries-old wooden houses, with residents saying they had never experienced flooding of this scale before. As the water subsided, shop owners and residents cleared thick mud from storefronts, repaired furniture, and worked to restore power in hopes of reopening soon to welcome back tourists. "Everything was swept away by the floodwaters, causing significant damage," said Dang Quoc Dat, a 40-year-old restaurant owner. "What is left was broken furniture that would need to be replaced but I'm determined to overcome this challenge alongside other business owners in the town," Dat added. The central region, battered by heavy rains this week, saw flash floods and landslides that killed at least 29 people and left five missing, according to Vietnam's disaster agency. Over 22,000 houses remain submerged, and nearly 100,000 residents are still experiencing power outages, it said. Vietnam, prone to deadly storms and flooding during its storm season from June to October, has yet to release official estimates of financial damage. Small shop owners reported losses amounting to hundreds of millions of dong. Authorities warned that heavy rain is expected to continue in central Vietnam, with some areas forecast to receive over 700 millimetres, potentially causing river levels to rise and triggering renewed flooding. The death toll from the heavy floods in central Vietnam has risen to 13, with 11 others still missing, the government said on Friday. Floods triggered by record levels of rainfall have inundated a large swath of central Vietnam over the past days, with the UNESCO-listed former imperial capital Hue and the ancient town of Hoi An the worst hit.
NEW WINGS OVER VIETNAM: SUN PHUQUOC AIRWAYS TAKES OFF FOR ITS FIRST FLIGHTS TO PHU QUOC
Reuters News – 1 November 2025
On the morning of November 1, 2025, Sun Phu Quoc Airways (SPA) officially takes off with its first flights to Phu Quoc, marking the beginning of Vietnam's first leisure airline. From November 1, SPA connects Phu Quoc with Hanoi, Ho Chi Minh City and Hanoi - Ho Chi Minh City, marking a new milestone for Vietnamese aviation. The airline plans to expand its network in 2026 with routes connecting Da Nang - Phu Quoc and Nha Trang - Phu Quoc, and direct international routes from Phu Quoc to South Korea, Taiwan, Thailand, Singapore, Hong Kong, and India, carrying forward the vision of connecting Vietnam's most beautiful destinations to the world. "Today is an incredibly special day for both Sun Group and Sun PhuQuoc Airways," said Nguyen Manh Quan, CEO of SPA. "It marks not only the launch of a new airline but also a new way of connecting travel and tourism to deliver distinctive experiences." The successful take-off of Sun Phu Quoc Airways' first flights not only adds a new airline and a new, affordable travel option to Vietnam's aviation market - making Phu Quoc more accessible to travellers of all ages - but also helps meet the rising demand for travel during Phu Quoc's golden tourism season and the upcoming Lunar New Year 2026.
VIETNAMESE AIRLINE VIETJET ORDERS 100 AIRBUS JETS, 40 ROLLS-ROYCE ENGINES
Reuters News – 30 October 2025
Vietnamese carrier Vietjet agreed to place multi-billiondollar orders for 100 planes from Airbus, the companies said in a joint statement on Thursday. Vietjet also announced an order for 40 Rolls-Royce engines, as it seeks to expand its fleet. The deals, which confirmed previous preliminary agreements, were announced as Vietnam's top leader To Lam visited Britain to elevate ties with London. The airline placed orders for 100 Airbus A321neo jets, following a non-binding memorandum of understanding signed in June with Airbus, according to the joint statement. The budget airline, which is embroiled in a dispute at London's High Court over a payment for four leased planes, also confirmed an agreement with Rolls-Royce for 40 Trent 7000 engines to power 20 Airbus A330neo aircraft.
UK AND VIETNAM AGREE DEAL ON ILLEGAL MIGRATION
Reuters News – 29 October 2025
Britain said on Wednesday it had agreed a deal with Vietnam on illegal migration, in what London described as the strongest Hanoi had ever agreed with another country. The agreement will cut red tape and make it faster and easier to return those with no right to be in the United Kingdom, Britain said. "The number of illegal arrivals from Vietnam has already been cut by half, but more can be done," British Prime Minister Keir Starmer said in a statement. "Today's agreement shows that through international cooperation - not shouting from the sidelines – we can deliver for the UK and for working people."
TRUMP SAYS COFFEE TARIFF WILL BE LIFTED UNDER VIETNAM TRADE DEAL
Reuters News – 27 October 2025
U.S. President Donald Trump said on Monday that coffee is among the products included in a new trade deal with Vietnam, which would exempt it from a 20% headline tariff. "We want to get coffee down a little bit," Trump told reporters on board Air Force One on route to Tokyo, adding that he might visit Vietnam, a coffee-producing powerhouse. The White House said on Sunday that the United States and Vietnam would finalise a trade agreement in the coming weeks that will maintain 20% tariffs on most Vietnamese goods but lift duties on certain products. The list of such products will be decided at a later stage, the two nations have said in a statement.