Vietnam Weekly: Vietnam fast-tracks market upgrade, boosts FDI, pivots to high-value trade

January 2, 2026 to January 8, 2026

This week's top 10 stories from Vietnam, selected from our daily intelligence briefs.

1. Market Upgrade Drive Sets Stage for Foreign Inflows and Trading Reforms by 2026

Vietnam’s State Securities Commission (SSC) has laid out a 2026 roadmap to meet “emerging market” criteria—spurred by FTSE Russell’s reclassification to Secondary Emerging effective September 2026—that aims to unlock substantial foreign capital, deepen liquidity and align market infrastructure with global standards. Key measures include deploying a KRX trading system, introducing T+0 execution and sell‑before‑settlement short‑selling arrangements once settlement safety is assured, launching a central counterparty (CCP) model in 2026 with full operation targeted for early 2027, and enabling global order‑routing and direct foreign participation via international custodians. Regulators will also tighten disclosure (amending Circular 96), expand bond channels and ESG/green instruments, prepare a carbon market by 2026, streamline IPOs under Decree 245 and clarify sectoral foreign ownership limits.

Officials point to roughly $50 billion in foreign indirect portfolios at end‑2024 and cite World Bank estimates that reclassification could attract up to $25 billion more by 2030. The package of legal, product (VN100 futures, potential options, green and infrastructure bonds) and operational reforms is designed to raise valuations and institutional inflows, though market participants warn of transitional risks around liquidity, interest‑rate and FX volatility and competitive pressures on local brokers.

Local Coverage: tuoitre.vn, com.vn

From daily briefs: 2026-01-06, 2026-01-07

2. New Planning Law Streamlines Approvals and Eases Overlaps to Accelerate Investment

Vietnam’s National Assembly has passed a major Planning Law in 2025 that overhauls the country’s planning framework to remove overlaps and accelerate project approvals. The law consolidates sectoral detailed plans into a single system, clarifies the hierarchy among national, regional and provincial plans, empowers provincial chairpersons to approve provincial plans (with strengthened post‑audit oversight), and removes project lists from plans to avoid “planning following projects.” Conformity checks are simplified—approvals may rely on any one plan in the system, some renovation/upgrade projects are exempt, and special public investment projects can proceed ahead of alignment with an expedited post‑hoc adjustment process. Existing 2021–2030 plans remain valid until expiry or replacement to prevent legal gaps. The reforms are explicitly aimed at unlocking stalled projects and channeling capital more efficiently into the economy.

Separately, the Assembly also approved a revised Civil Aviation Law, effective 1 July 2026, to speed investment in airport development and operations. The law allows authorized bodies to approve investor‑led construction, upgrade, expansion, maintenance and operation of dual‑use airport infrastructure on defense land without changing land‑use rights, waives investment policy approval for expansions on already leased land, and requires integrated connectivity in airport planning. It preserves state ownership of critical infrastructure while enabling private operation, and aligns with a target to have 34 airports by 2050 (15 international, 19 domestic). The Civil Aviation Authority is preparing three decrees, two circulars and amendments to 15 related legal documents to implement the new regime.

Local Coverage: vneconomy.vn, vietnamplus.vn

From daily briefs: 2026-01-02, 2026-01-05

3. FDI Disbursements Hit Five-Year High in 2025 as Manufacturing Leads and Registrations Top $38.4B

Foreign direct investment in 2025 showed strong execution despite only modest growth in new commitments: registered FDI reached $38.42 billion (up 0.5% y/y) while disbursements hit $27.62 billion, a five‑year high and 9% above 2024. Manufacturing dominated the picture, accounting for $22.88 billion (82.8%) of disbursed FDI and $18.59 billion (59.2%) of combined new and adjusted registered capital; real estate was the second largest recipient with $3.67 billion in new registrations and $6.26 billion including adjustments. Capital raised via share purchases jumped 54.8% to $7.03 billion, and new licenses covered 4,054 projects worth $17.32 billion, signaling broader project counts but smaller average deal sizes.

The investor geography is concentrated: Singapore led new registered capital at $4.84 billion, followed by China ($3.64 billion), Hong Kong, Japan and Sweden. Macro conditions were supportive, with GDP growth at 8.02% for 2025 and merchandise trade totaling $930.05 billion, suggesting resilient demand and execution capacity. For international professionals, the data imply that while headline registrations are stable, the shift toward higher disbursements—especially into manufacturing—and increased share‑purchase activity may presage deeper operational commitments and supply‑chain investment rather than primarily speculative or land‑driven flows.

Local Coverage: vneconomy.vn, thanhnien.vn

From daily brief: 2026-01-07

4. Trade Volume Reaches $920 Billion, Pushing Country into Top 15 as Policymakers Pivot to FTA-Driven, Higher-Value Exports

In 2025 the country’s total merchandise trade reached $920 billion, propelling it into the world’s top 15 trading economies. Exports are increasingly driven by processed and manufactured goods—about 85% of export value—with electronics, machinery, textiles, footwear and furniture leading the mix; agriculture also recorded gains in rice, coffee, produce and seafood. Textiles alone are estimated at $46 billion in 2025 with a record net surplus, and the sector is prioritizing higher local content through green and digital investments.

Policymakers at the Ministry of Industry and Trade are responding by focusing on FTA-driven, higher-value exports via market and supply‑chain diversification, stronger FTA utilization, trade defense readiness, and administrative reforms to lower business costs. Officials are also pushing for deeper local participation in FDI-led supply chains and stronger supporting industries as experts call for improving export quality and raising domestic value‑add (currently ~36.6%) to meet tightening global standards on carbon, traceability, labor and sustainability.

Local Coverage: tuoitre.vn, vietnamplus.vn

From daily brief: 2026-01-03

5. Banking Overhaul Eases Gold Monopoly, Completes Weak-Bank Resolutions, and Adopts Basel III Standards

Vietnam’s banking sector reopened in 2026 under a major regulatory overhaul that dismantles the state’s gold monopoly and accelerates bank cleanup and capitalization. Decree 232/2025 ended state exclusivity on gold bar production and raw-gold imports, allowing qualified firms and commercial banks to import and mint gold under State Bank of Vietnam (SBV) supervision; it also mandates SBV connectivity for transaction data and requires cashless, invoiced gold payments from VND 20 million. The SBV has deployed SIMO, a real‑time fraud-monitoring system for accounts and e‑wallets, and expanded biometric eKYC via the national digital ID program, tightening oversight and market transparency.

Regulatory capital rules also tightened: Circular 14/2025 moves Vietnam toward Basel III standards, prompting banks to accelerate capital increases and bad‑debt resolution. Authorities have effectively completed resolutions of the “zero‑dong” banks through forced transfers (CBBank→Vietcombank, OceanBank→MB, GPBank→VPBank, DongA Bank→HDBank); only SCB remains under special control and is seeking a restructuring plan and strategic investor. Credit growth stood at 17.87% as of December 24, 2025, reflecting continued lending momentum amid the sector’s structural adjustments.

Local Coverage: com.vn

From daily brief: 2026-01-06

6. Key Economic Moves Span Rail Links, Energy Upgrades, Fees Overhaul, and Auto Launch Plans

Vietnam’s recent policy and infrastructure moves signal coordinated efforts to boost cross-border trade, energy capacity, and sectoral competitiveness. The Ministry of Construction has formed a steering committee to advance rail links with China—prioritizing Lào Cai–Hanoi–Haiphong, Hanoi–Đồng Đăng, and Haiphong–Hạ Long–Móng Cái corridors—underscoring momentum for freight flows and port connectivity. Energy grid strengthening continued with phase-one energization of the Than Uyên 220kV substation toward a 750 MVA northern capacity target, while a new National Center for Land Survey and Planning began operations on 1 January 2026 to streamline land-use coordination. In social and industrial infrastructure, Phú Thọ launched an 866 billion VND social housing project for workers.

On the economic and regulatory front, the agriculture ministry reported it met or exceeded all 2025 targets, with sectoral GDP growth around 3.7–3.92% and agro-forestry-fishery exports estimated at about US$70 billion—data that supports export resilience. Financial and service-sector changes include a Finance Ministry circular unifying culture, sports and tourism fees effective 1 January, the Ministry of Industry and Trade querying K+ over a service suspension from 1 January 2026, and VNG requesting a postponement of a meeting with the National Competition Commission on Zalo as it consolidates materials. In industry news, Tasco Auto plans to launch premium, electric, and performance models in 2026. Vietnamese carriers reported no disruption from Venezuela’s nationwide emergency, noting they operate no routes over Venezuelan airspace.

Local Coverage: baotintuc.vn

From daily brief: 2026-01-05

7. Resolution 66-NQ/TW Drives Legal Overhaul to Unlock Growth and Governance Efficiency

Vietnam’s Politburo has launched Resolution 66-NQ/TW to make legal and regulatory reform the central engine of the country’s next-stage development, tasking the Ministry of Justice to coordinate implementation, streamline lawmaking and strengthen enforcement. Officials report that by end‑2025 authorities had responded to 1,295 public petitions and resolved 98.3% of 470 prioritized issues, easing bottlenecks across finance, investment, science & technology, innovation, digital transformation, justice and public security.

Framing the initiative as strategic, General Secretary To Lam and Justice Minister Nguyen Hai Ninh describe Resolution 66 as a transformation in legal thinking—shifting from administrative control toward development‑enabling policy design. The program emphasizes clearer, more accessible rules, improved policy communication and legal education to boost business confidence and support innovation, with the Ministry of Justice charged with translating these goals into concrete lawmaking and enforcement changes.

Local Coverage: baotintuc.vn

From daily brief: 2026-01-02

8. Digital Industry Law Legalizes Crypto Assets, Prioritizes Semiconductors and AI From 2026

Vietnam’s new Digital Industry Law, effective January 1, 2026, creates a unified legal framework for digital assets, semiconductors and AI: it defines “digital assets” in the Civil Code, distinguishes virtual and cryptographic assets, permits crypto for investment and exchange but keeps payments banned, and designates semiconductors as the material backbone of the digital economy with measures to attract investment, allow imports of compliant used equipment, and prioritize R&D, training and infrastructure to move beyond contract manufacturing. The law also offers substantial incentives for AI—including special-status data centers eligible for tax, land and direct local-budget support—and is complemented by a standalone Artificial Intelligence Law passed December 10, 2025 (effective March 1, 2026) that balances risk controls with innovation, stresses safety, transparency and accountability, and prioritizes domestic foundational platforms, LLMs and Vietnamese datasets to bolster digital sovereignty.

A separate Digital Transformation Law will act as an umbrella statute linking sectoral rules, establish national governance structures for digitization and mandate at least 1% of the annual state budget for digital transformation. Amendments to the Technology Transfer Law expand the definition of “technology” to include data, algorithms and software, enabling commercialization and equity contributions in kind and fostering tech intermediaries and exchanges. Officials frame the reforms as a shift from reactive regulation to proactive enablement—Tran Van Son of the National Institute of Digital Technology and Digital Transformation and Vice Minister Bui Hoang Phuong describe the package as closing legal gaps and creating Vietnam’s first unified framework for digital transformation.

Local Coverage: thanhnien.vn, vneconomy.vn

From daily brief: 2026-01-02

9. VN-Index sets fresh record as energy and banks surge; foreign funds return to net buying

Vietnam’s VN-Index surged to a fresh record on January 7, rising 2.49% to 1,861.58 (VN30 +1.98%) on HOSE liquidity above VND 32 trillion, led by state-linked energy and utilities (GAS, PLX, BSR, PVT, POW) and broad banking gains (BID +5.3%, VCB +4.0%, CTG +3.5%). Market breadth was strong (256 advancers vs 79 decliners) as mid- and small-caps picked up late flows; Sacombank (STB) was a notable laggard, down ~6% after weak preliminary profit signals and heavy foreign selling. Foreign investors flipped to net buying (~VND 500–530 billion), focusing on FPT, HPG, VIC, MBB and VPB while offloading STB and VHM.

Strategists see momentum toward 1,890–1,930 but warn of short-term overbought conditions and potential shakeouts. Vietnam’s market remains relatively cheap with a 12-month forward P/E of 12.7 (vs 14–15 in regional peers) despite a 40.9% 2025 rally that left VN-Index at 1,784.49 year-end; FTSE Russell’s planned reclassification to Emerging Market on September 21, 2026 could attract $1–2bn in passive and $4–10bn in active inflows, though flows will depend on macro, FX stability and further liberalization.

Local Coverage: vneconomy.vn, baotintuc.vn, vietnamplus.vn, thanhnien.vn, vnexpress.net, tuoitre.vn, com.vn

From daily briefs: 2026-01-02, 2026-01-03, 2026-01-05, 2026-01-06, 2026-01-07, 2026-01-08

10. Prime Minister Accelerates Rail Megaprojects, Orders Tech Choice for North–South HSR by January 15

Vietnam’s Prime Minister Pham Minh Chinh has pushed national rail projects from planning into execution, chairing a steering-committee meeting that set firm near‑term deadlines for the North–South high‑speed rail (HSR), the Lào Cai–Hanoi–Hai Phong line, and major urban rail links in Hanoi and Ho Chi Minh City. Officials reported 38 of 47 preparatory tasks completed; Chinh ordered selection of the HSR technology and a government report by Jan. 15, 2026 deadlines to appoint international consultants and submit an HSR feasibility study, and a mid‑2026 completion of feasibility for Lào Cai–Hanoi–Hai Phong with major works to begin in December 2026. The Ministry of Construction named Thang Long PMU to lead the North–South feasibility study and the Railway PMU to produce pre‑feasibility reports for Hanoi–Dong Dang, Hai Phong–Ha Long–Mong Cai and the Eastern Ring.

The government demanded clarified route alignments, land‑value benchmarks to speed compensation, and review of domestic and international technical standards to choose between conventional rail, maglev or vacuum‑tube options and to define investment models (public, PPP, private). Funding for preparation is allocated for 2026–2027. Vingroup has withdrawn from PPP talks, leaving firms such as Thaco as potential private partners. Chinh emphasized transparency and anti‑corruption oversight, framing the push as results‑driven and aimed at delivering clear public and economic benefits.

Local Coverage: vietnamplus.vn, baotintuc.vn, tuoitre.vn, com.vn, thanhnien.vn, vnexpress.net

From daily briefs: 2026-01-05, 2026-01-07

About This Weekly Digest

The stories above represent the most significant developments from Vietnam this week, selected through our AI-powered analysis of hundreds of local news articles.

Stories are drawn from our daily intelligence briefs, which synthesize reporting from Vietnam's leading news sources to provide comprehensive situational awareness for international decision-makers.