AGP Executive Report

HCMC Development Blueprint: Vietnam’s Politburo issued Resolution No. 09-NQ/TW (May 19, 2026) to accelerate Ho Chi Minh City’s development, aligning central and local agencies around a long-running vision for the city as a growth engine for the South and the whole country. EU Compliance Pressure on Textiles: The EU’s Digital Product Passport rollout from 2028 is forcing Vietnam’s garment sector to build data and traceability infrastructure fast, but many firms are still at an early stage with fragmented standards. FDI Policy Update: Vietnam’s Politburo also issued a resolution on developing the FDI sector, signaling a further upgrade to how foreign investment is managed and steered. Green Finance & EU Ties: Vietnam and the EU are deepening cooperation on investment, tax transparency and green finance, with more focus on practical programmes. Digital Economy Target: Vietnam expects its digital economy to reach 30% of GDP by 2030, supported by a government programme for digital economy and society development. Trade Expansion with China: Chinese Premier Li Qiang told Vietnam’s PM China is ready to expand and upgrade bilateral trade, following top-leader visits. Business Climate Reform Push: Business leaders are urging deregulation and stronger implementation to make budget targets achievable, stressing governance and competitiveness. Energy/Infrastructure Signals: Vietnam is moving on carbon market participation rules and tolling expansion on North–South expressway sections, while also advancing strategic projects with major economic impact.

FDI Reshuffle: Vietnam’s Politburo issued Resolution No. 09-NQ/TW to tighten how foreign direct investment is selected, shifting from broad attraction to quality and value creation, with priority criteria including tech transfer, supply-chain participation and efficiency, and a focus on strategic sectors like electronics, semiconductors, AI and green transition. Digital Push: Vietnam targets the digital economy to reach about 30% of GDP by 2030, backing SME digital transformation for at least 500,000 firms, rolling out e-ID accounts for all citizens aged 14+, and training 10 million workers in basic digital skills. Capital Market Watch: Equity fundraising is set to intensify in H2 as planned IPOs and share issuances rise sharply in 2026, with FiinGroup pointing to a shift toward private-sector-led deals and restructuring rather than state equitisation. Banking Leadership: UOB Vietnam appointed Pham Hong Hai as deputy country CEO, aiming to accelerate growth and strengthen governance and risk management. Trade & Diplomacy: China’s Premier Li Qiang pledged to expand and upgrade bilateral trade with Vietnam, while Vietnam and China also agreed to deepen strategic coordination across rail connectivity, trade and tourism. EU Cooperation: Vietnam’s Finance Ministry met the EU delegation to discuss investment, tax transparency and green finance as ties enter a new phase after the EU-Vietnam FTA and the 2026 partnership upgrade. Energy & Industry: PV Power Services and South Korea’s Soosan will cooperate on maintenance, repair and overhaul services for power plants, including nuclear-related training and technical capacity building. Logistics Momentum: Air cargo volumes rebounded after holiday disruptions, though rates eased, while Vietnam’s logistics story continues to gain attention as manufacturing expands.

HCMC Development Blueprint: The Politburo’s Resolution No. 09-NQ/TW (May 19, 2026) sets priorities to accelerate Ho Chi Minh City’s growth, aligning central agencies and local Party bodies around a long-running vision for the city as a national economic and science-tech hub. Port Performance Boost: World Bank and S&P’s 2025 Container Port Performance Index ranks Cai Mep Port Cluster (11th) and Hai Phong (13th) among the world’s top container ports, with Hai Phong also among the biggest improvers since 2020—highlighting Vietnam’s push on infrastructure, modernization and logistics links. Digital Finance Partnership: VNPT and PVcomBank sign a 2026–2030 cooperation deal to integrate telecom infrastructure with banking to build shared digital ecosystems. Energy Deal in Central Asia: Kyrgyzstan inaugurates the first phase of the “ROX Issyk-Kul” solar plant (175MW; total 1,900MW), implemented by Vietnamese ROX Energy Global, as part of wider Vietnam–Kyrgyz investment cooperation. Tax Policy Pressure: Bangladesh’s revenue collection is growing slower than the economy, with experts warning of execution risks—an external reminder of the importance of tax reforms and capacity for Vietnam-style growth targets.

HCMC Development Blueprint: The Politburo’s Resolution No. 09 (May 19, 2026) sets fresh directions for Ho Chi Minh City’s “new era,” building on earlier city resolutions to speed implementation and keep the city as a growth engine for the South. Vietnam–ASEAN–Russia Link: Deputy FM Dang Hoang Giang says PM Le Minh Hung’s June 17–18 ASEAN–Russia summit in Kazan will reinforce Vietnam’s “bridge” role and spur new ASEAN–Russia cooperation. Energy & Industry Cooperation: Vietnam wants to deepen nuclear energy ties with Bulgaria, focusing on training, research and operational know-how, while Germany and Vietnam also push circular-economy and sustainable manufacturing cooperation. Trade & Finance Signals: Vietnam’s trade data for early 2026 show electronics dominating exports and imports, while global trade outlook improves despite headwinds. M&A Momentum: Venture Forum 2026 in HCMC points to new drivers for Vietnam’s M&A market, led by domestic capital, tech innovation and a maturing startup ecosystem. Retail Banking Shift: Standard Chartered highlights Vietnam’s retail banking moving from product sales to longer-term customer value and advisory. Tourism & Waterways: HCMC launches a Waterway Tourism Society to standardise services and connect businesses to grow Saigon River tourism. Policy & Growth Push: Vietnam’s push for double-digit growth through 2030 and a digital economy programme also underline the broader reform drive.

U.S. Legal Battle Over “UFC Freedom 250”: A federal judge rejected a last-minute bid to stop Trump’s White House UFC event, saying plaintiffs lacked standing and sued too late, as preparations for the 250th anniversary spectacle continue. Ho Chi Minh City Development Push: Vietnam’s Politburo resolution No. 09 (May 19, 2026) sets priorities for Ho Chi Minh City’s “new era” growth, aiming to align central and local execution. Foreign Investment Targeting Developed Economies: Vietnam aims to secure 75% of foreign investment from developed economies by 2030 and attract leading tech firms for HQ, offices and R&D, with a goal of raising the foreign-invested sector’s GDP contribution to about 30% by 2045. Da Nang Free Trade Zone Pitch: Da Nang hosted a conference to attract investors to Vietnam’s first free trade zone, stressing institutional reforms, modern infrastructure and digital customs to speed logistics and boost transparency. Vietnam M&A Momentum: Venture Forum 2026 in HCMC highlighted a new phase for Vietnam’s M&A market, driven by stronger domestic capital, tech innovation and a maturing startup ecosystem. Energy & Refining Cooperation: Japan’s Idemitsu Kosan pledged continued crude supply for Nghi Son and expansion into Vietnam’s energy sector, including green initiatives. Market Outlook: SSI Research said Vietnam’s growth drivers are shifting toward domestic investment, infrastructure and capital-market deepening, with real GDP growth forecast at 8.2–8.5% in Q2 2026.

UFC at the White House: A US federal judge refused to block Dana White’s UFC “Freedom 250” event on the White House South Lawn, rejecting claims by plaintiffs who argued the commercial use of the grounds was illegal and citing their late filing. Vietnam Growth Push: Vietnam PM Le Minh Hung launched a nationwide emulation campaign targeting sustainable double-digit growth for 2026-2030, urging faster institutional reforms and removal of bottlenecks to turn policy into results. HCMC Development Framework: The Politburo’s Resolution 09-NQ/TW (May 19) sets priorities for Ho Chi Minh City’s “new era” development, aiming to align central and local execution. Tech & Industry Momentum: Intel marked 20 years at its Saigon High-Tech Park factory, highlighting $4.1bn committed investment, major export contributions, and STEM talent partnerships. Consumer Protection Online: Vietnam’s competition authority data points to e-commerce as the top source of consumer complaints, with risks including counterfeits, misleading marketing, data misuse and online fraud. Social Policy Credit: VBSP reported lending to 1.1 million poor households in the first five months of 2026, with local budget “entrusted capital” expanding policy credit reach. Vietnam-Philippines Upgrade: Vietnam and the Philippines elevated ties to an Enhanced Strategic Partnership during To Lam’s Manila visit, signaling deeper cooperation beyond traditional security.

Vietnam Capital Markets: The State Securities Commission says Vietnam will allow large foreign-invested enterprises to conduct IPOs and list domestically, aiming to boost quality stock supply and attract more investors; it also flags new market plans including a domestic carbon credit trading platform and steps toward a digital asset market. Stock Market Momentum: Vietnam’s market is getting a boost from MSCI upgrade hopes and an emerging-market status move tied to FTSE Russell, with major funds reportedly opening accounts to deploy capital. Corporate Finance & Deals: Large FIEs are preparing IPOs, while PDR is moving to mobilise capital via a proposed equity acquisition in Lotte Properties HCMC. Energy & Climate Infrastructure: EVN and Gulf Energy discuss wind and LNG power projects in Vietnam; Norway’s OSW firms return to Hanoi as Vietnam pushes offshore wind; and Vietnam is set to launch its domestic carbon exchange at end-June. Policy & Business Environment: Hanoi proposes a new investment model for sci-tech projects, and businesses are contributing to an amended Customs Law draft to cut delays and shift customs toward a service mindset. Trade & Cross-Border Flows: China’s Vietnam border gates see a summer surge in ASEAN fresh produce imports, while Vietnam’s customs revenue is reported on track to meet targets.

Vietnam Private Sector Momentum: Vietnam’s private economic sector is showing “stable beginnings, powerful breakthroughs,” underscoring a push to keep growth momentum. Strategic Tech Push: Vietnam is accelerating “strategic technologies” with stronger policy rollout and wider participation from VAST, business and researchers, aiming to build internationally recognised capacity. Energy & Industry Deals: Foxconn and Brookfield struck a renewable and battery storage partnership in Vietnam targeting up to 1GW under a long-term PPA, while MiCo’s Hyundai Heavy Industries Power Systems agreed to buy NEM Energy (100% stake) to strengthen HRSG and power equipment capabilities. Trade & Customs: Vietnam’s customs revenue from foreign trade hit VND 215.14 trillion in Jan–May (47.7% of target), with exports up 19.5% and imports up 30.8% year-on-year. Finance & Policy: Vietnam is moving on a cashless push (targeting cashless value at 30x GDP by 2030) and is also working on longer-term capital for development via pension fund expansion and infrastructure/green transition financing. M&A Watch: SEA M&A remains concentrated, with Singapore dominating disclosed value while Vietnam’s disclosed transaction value is far smaller. ASEAN Connectivity: ASEAN diplomats visited Bangladesh’s BSEZ with Vietnam among participants, reflecting continued regional interest in investment and industrial cooperation.

ASEAN & Diplomacy: Cambodia’s PM and Thailand’s PM visits, plus Vietnam’s push at the 3rd ASEAN Future Forum in Hanoi, kept the spotlight on “people-centered” growth and ASEAN’s role in shaping regional rules, not just reacting to shocks. Energy & Fuel Costs: Vietnam cut retail fuel prices for a third straight week from 3pm June 11, using the petrol and oil stabilisation fund; E10RON95 remains distributor-linked to ethanol and base petrol costs. Cybersecurity: ESET says Vietnam-aligned OceanLotus shifted toward more domestic espionage, including a supply-chain attack tied to SPECTRALVIPER and FireAnt MetaKit. Infrastructure & Trade Logistics: Vietnam is courting investment to upgrade seaports into logistics hubs, with projects expanding berths and transshipment capacity. Property & Capital Flows: Keppel plans to ramp up Hanoi residential projects as demand lifts prices, while Vietnam also seeks to unlock capital for infrastructure and the green transition. Tech & Industry Policy: Vietnam’s leaders urged faster development of strategic technologies, with JICA ODA orientations focused on industrialisation, innovation, labour productivity and competitiveness. Regional Business Signals: Singapore’s oil product inventories fell to near 13-year lows amid US-Iran war-linked supply disruptions, a reminder of how geopolitics can hit regional costs.

Vietnam’s strategic tech push: Vietnam’s Academy of Science and Technology says “strategic technologies” with spillover effects are now a whole-of-system priority, aiming to boost national competitiveness, defense readiness and sustainable development. Rare earth stakes: A new USGS-based comparison highlights China’s dominant rare-earth reserves, underscoring how critical minerals could shape future industrial and tech power. Aviation trade leverage: Vietnam has told major airlines to review Boeing and Pratt & Whitney contract progress and propose ways to expand imports of U.S. materials, as Washington steps up trade probes. EV and industrial momentum: Vietnam’s EV sector continues to expand, with updates on VinFast’s performance and broader green mobility rollouts. ASEAN Future Forum 2026: Lao officials praised Vietnam for hosting and driving the ASEAN Future Forum, pointing to Vietnam’s central role and maritime connectivity. Weather risk for farmers: PAGASA declared the rainy season, but farmers report patchy rainfall and soil-moisture shortfalls amid Super El Niño concerns. Regional business deal: Taiwan-listed BizLink agreed to buy Blackstone’s Interplex Datacom unit for about $850m, a notable Southeast Asia M&A liquidity signal. Local governance and costs: Vietnam’s wider policy environment also faces scrutiny as governments manage spending and compliance pressures.

Vietnam Tech Strategy: Vietnam’s science and technology leadership is pushing “strategic technologies” with spillover benefits, aiming to boost programming/robotics talent and turn policy into implementation through VAST-led projects. Renewables Deal: OWC and Pioneer International Consulting (PIC) signed a Vietnam pact to advise wind and other renewables across the full project lifecycle, from market entry to bankability. EV & Auto Market: Vietnam’s vehicle market rose in May, with VAMA reporting growth in light passenger and commercial segments (VinFast and some brands not included in the wholesale data). FX & Gold Watch: The dong faced pressure as the dollar firmed, while Vietnam’s gold prices slid to an 8-month low amid rising US-Iran tensions. Trade & Compliance: A US CBP alert highlighted prohibited pork and produce smuggling risks tied to summer travel, with Vietnam flagged in a recent Dulles case. AI & Semiconductors: VinRobotics and Infineon agreed to explore next-gen robotics core technologies via a planned competency center, while Apple unveiled a revamped Siri AI at WWDC. Regional Logistics: Hainan’s Yangpu Port launched a new container route to India, routing via Vietnam and Singapore—another sign of Vietnam’s role in South China–South Asia trade lanes. Private Sector Voice: The Vietnam Private Sector Forum in Hai Phong urged stronger public-private cooperation and policy reforms grounded in business realities.

Strategic Tech Push: Vietnam is urging faster, more decisive development of “strategic technologies” with stronger policy follow-through, wider participation from science and business, and clearer breakthrough steps to build internationally recognized capacity. Tourism & Hospitality: Sofitel Legend Metropole Hanoi has won Condé Nast Traveler’s “Triple Crown,” a rare global hotel accolade spanning Hot List, Gold List and Readers’ Choice. Regional Security: The US deployed the USS Boxer amphibious group in the South China Sea, underscoring continued multi-region military presence. Vietnam-ASEAN Economic Agenda: At the ASEAN Future Forum in Hanoi, Cambodia’s and Vietnam’s leaders pushed for deeper integration, resisting fragmentation, and keeping people at the center as global instability threatens trade-led growth. Trade & Investment Links: Thailand and Vietnam set a target to lift bilateral trade to $25bn this year, while Can Tho invited Singapore firms to invest in innovation, logistics and green growth. Vietnam Business Signals: Vietnam’s pangasius sector sees strong prices and export momentum, but faces pressure to improve breed quality and disease control to meet tougher market standards.

ASEAN Fintech: Deputy PM Nguyen Van Thang urged ASEAN to build an open, secure, transparent fintech ecosystem, saying fintech is now “strategic infrastructure” for the region’s digital future and cross-border connectivity. Green Mobility Expansion: Vietnam’s Green SM launched its all-electric ride-hailing service in New Delhi (VinFast Limo Green), aiming to expand across key markets, while Singapore’s Hello Ello rolled out an AI care camera service in Malaysia. AI in Industry Parks: FPT and Amata Group signed an MOU to drive AI transformation across Amata’s industrial parks in Thailand, Vietnam and the wider region. Aviation Safety: Vietnam’s civil aviation authority warned of rising drone and kite risks near airports after disruptions at Noi Bai and Cat Bi, calling for tighter coordination and public awareness. Labour Market: ManpowerGroup said Vietnam’s Q3 hiring outlook stays positive but employers are more cautious, prioritising critical roles and tech-linked skills. Tech & Policy Push: Party chief To Lam called for more proactive theoretical work for 2026–2031 to tackle bottlenecks and support policymaking. UAV Ecosystem: Tay Ninh unveiled plans to build a UAV ecosystem through 2035, including a testing corridor and regulatory sandbox to attract investment. Renewables Investment: Vietnam’s push for green transition drew renewed attention as GWEC met NA vice chair Nguyen Hong Dien to discuss policy and investment support for renewables.

Tech & AI: Apple unveiled “Siri AI,” a new Siri built on Apple Intelligence with deeper personal context, web Q&A, and systemwide tools, available for developer testing now and a beta later this year. Vietnam–Thailand Business Push: Thai PM Anutin Charnvirakul arrived in Hanoi to meet Vietnamese and Thai firms, backing expanded trade, investment and supply-chain cooperation ahead of the ASEAN Future Forum. EV & Capital Markets: VinFast reported a near-42% jump in Q1 revenue on stronger demand in Southeast Asia, but losses widened as it ramps up factories; the company also outlined EV supply plans for GSM. Trade Policy Watch: The U.S. is moving toward broad Section 301 forced-labor tariffs, proposing 10%–12.5% rates across 60 economies, with comment deadlines in early July—an issue that could affect Vietnam-linked supply chains. Corporate Finance: Masan Group secured a record $750m unsecured syndicated loan, signaling continued funding momentum for its consumer and retail ecosystem. Local Economy & Infrastructure: Vietnam targets faster growth in cashless payments and new business formation, while Hanoi and regional partners push connectivity and logistics upgrades to unlock trade.

Vietnam–Laos Finance Pact: Vietnam and Laos signed a 2026–2030 cooperation agreement to boost financial management capacity, covering customs, taxation, treasury, state budget and debt management, plus training and facility upgrades. Digital Payments Push: Deputy PM Nguyen Van Thang said Vietnam targets cashless payment value reaching 30 times GDP by 2030, with 95% of adults holding bank transaction accounts, as part of a push for a modern, secure digital finance ecosystem. Banking Speed Upgrade: Vietnam Maritime Bank cut loan approval turnaround from 30 minutes to 15 after deploying FICO AI credit decisioning, aiming to scale lending across 260 branches while keeping risk parameters consistent. Corporate Funding: Masan Group secured a $750m unsecured syndicated loan from 15 international banks, with pricing at 1.8%—a record-tight rate for a Vietnamese privately owned enterprise of that tenor. Trade & Investment Cooperation: Vietnam and Canada agreed to move the Joint Economic Committee into a more action-oriented phase, prioritising trade diversification (including CPTPP use and ASEAN–Canada FTA talks), plus energy, infrastructure and green growth. ASEAN Diplomacy: Cambodia’s PM Hun Manet is set to visit Vietnam and attend the ASEAN Future Forum in Hanoi, with talks expected to deepen bilateral ties and regional economic cooperation. Cross-border Business Links: Thailand’s PM Anutin is in Hanoi to advance Thai–Vietnam trade and investment and strengthen ASEAN cooperation, with a focus on private-sector dealmaking. Supply Chain for Fashion: Sung Il Tex Vietnam completed a fully Vietnam-made lining supply chain for FTA partner countries to help global brands secure Vietnam-origin certified materials faster amid demand for alternatives to China.

Industrial Pulse: Vietnam’s industrial production stayed on a strong track in Jan–May 2026, with the Index of Industrial Production rising 9.1% year-on-year—the fastest pace in four years—driven by manufacturing and processing, plus electricity and distribution. Digital Finance Push: Vietnam targets cashless payments worth about 30 times GDP by 2030, with the State Bank and Tuoi Tre highlighting cashless as a core driver for digital finance and a modern, secure financial ecosystem. Crypto Regulation: Vietnam’s State Securities Commission says the new Law on Digital Technology Industry (effective Jan 1, 2026) legally recognises crypto assets as property and is building a regulated market via a five-year pilot for licensed trading platforms, aiming for a launch in Q3 2026. Retail Expansion: DMX (Dien May Xanh) is looking to replicate its Vietnam playbook abroad, with its EraBlue joint venture in Indonesia positioned as a key growth engine over the next five years. ASEAN Business Diplomacy: Thailand’s PM Anutin is set to visit Vietnam on June 8–9 for the ASEAN Future Forum and talks to turn political ties into concrete economic cooperation projects. Energy & Mobility: Vietnam’s electric mobility transition gets a boost as charging infrastructure becomes a key focus for scaling EV use.