AGP Executive Report

Growth Targets: Ho Chi Minh City needs 13.23% growth in the final quarter to meet its 10.02% annual target, after expanding 9.01% in the first nine months. Officials are counting on faster public investment and stronger domestic demand. Investment and Trade: Vietnam plans to link investment incentives to foreign firms’ commitments to develop local suppliers, aiming to raise domestic value in export chains. Mobile phone and component exports rose 20% to $51.8 billion in the first nine months, though more than half went to China, the US and South Korea. EuroCham’s business confidence index remained high at 78.3 in Q3; Vietnam says US trade talks are close to completion, while an EFTA trade deal is expected to be signed Sunday. Digital Push: To Lam urged Hanoi University of Science and Technology to become a leading research institution. Vietnam will move PPP project proposals onto its e-procurement system from 2027, with online bidding to follow, while CMC and South Korea’s Lotte Innovate explore data-centre and digital infrastructure projects. War Remembrance: Vietnam reburied the remains of 731 people killed in the 1968 Tet Offensive, as efforts continue to identify the missing.

War Remains: Vietnam has reburied the remains of 731 people killed during the 1968 Tet Offensive, as authorities step up efforts to identify those still missing. Trade: Hanoi says it has sent the final wording of a trade agreement to Washington, while Vietnam and the EFTA states are set to sign a separate free-trade deal. Growth and Investment: UOB raised its 2026 growth forecast for Vietnam to 9.2%, but analysts say the challenge is ensuring record foreign investment benefits local businesses. Global Reach: Vietnamese electric-mobility firm Green SM has launched an all-electric taxi service in Los Angeles, its first North American market. Regional Ties: Vietnam’s vice president met Azerbaijan’s president in Baku, while Hanoi also moved to deepen defence cooperation with Laos and Cambodia.

War Remembrance: Vietnam reburied the remains of 731 people believed killed in the 1968 Tet Offensive, recovered from mass graves in Ho Chi Minh City after an eight-year search. Most remain unidentified, and DNA testing is underway. US Trade Talks: Deputy Prime Minister Pham Gia Tuc said negotiations are nearly complete and Vietnam has sent Washington the final text. The US ambassador said talks continue and urged clearer rules on data and energy investment. Growth and Investment: GDP grew 9.01% in the first nine months, including 9.95% in the third quarter. Reaching the 10% full-year target would require growth above 12% in the final quarter; public investment disbursement stood at 63% of its target by September. SME Finance: South Korea’s IBK launched its Vietnam subsidiary in Hanoi, aiming to use its small-business lending expertise to support local firms. Digital Talent: A new decree offers recruitment, financial and research incentives to attract experts and young talent to data innovation.

Housing: Vietnam completed nearly 47,000 social housing units in the first nine months of 2026, less than half its annual target, while home prices remain out of reach for many households, the deputy prime minister said. Energy: Murphy Oil has begun production at the offshore Lac Da Vang field and expects output to ramp up through 2028; SK Earthon also started oil production at a Vietnamese offshore field. Diplomacy: Vietnam and China are seeking closer parliamentary ties, while Vietnam and Laos agreed on a 2027 defence cooperation plan. Legislation: The National Assembly is set to consider 43 draft laws and resolutions at its upcoming session. Disasters: Natural disasters have left 68 people dead or missing in Vietnam over nine months, and a strong El Niño may bring an earlier end to southern rains and more extreme heat.

China Ties: National Assembly Chairman Tran Thanh Man and China’s top legislator Zhao Leji co-chaired a joint committee meeting in Beijing, pledging deeper cooperation, including on infrastructure and emerging technologies. Tech Cooperation: A Vietnam–Australia forum in Hanoi focused on turning AI, semiconductor and digital technology agreements into joint projects. Energy: SK Earthon has begun oil production at the Golden Camel field offshore Vietnam and reported another nearby discovery; output from the block could eventually reach 25,000 barrels a day. Growth and Investment: The IMF forecasts Vietnam’s economy will grow 8.4% in 2026. Samsung affiliates plan US$9.15 billion in semiconductor investment, with a major share earmarked for Vietnam, which has also entered investment-grade territory for the first time. Financial Hub: Ho Chi Minh City climbed 17 places in the Global Financial Centres Index, though officials cautioned the ranking signals momentum, not yet a fully developed financial centre.

China Ties: Vietnam’s National Assembly chairman Tran Thanh Man met China’s top legislator Zhao Leji in Beijing, where the two sides pledged deeper cooperation, including in AI, clean energy and infrastructure. Investment: Samsung plans to invest $9.15 billion in semiconductor operations in Vietnam and South Korea, with nearly $6 billion earmarked for Vietnam. Economic Outlook: Foreign investment commitments reached a record $50.36 billion in the first nine months, but experts say stronger links between foreign firms and local suppliers are needed to spread the benefits. Vietnam has also updated its inflation scenarios and tightened price management for year-end. Public Health: Doctors warned that unverified herbal remedies can cause serious liver and kidney damage after a man with cirrhosis developed acute liver failure following a week of treatment.

Inflation: Vietnam’s Finance Ministry has outlined two 2026 scenarios, with average inflation at 4.5% or 4.8%; the consumer price index was up 4.52% in the first nine months. Tech and investment: FPT and South Korea’s Naver Cloud plan to develop AI factories and GPU services across Asia-Pacific. Separately, Samsung is planning nearly US$6 billion for chip-testing facilities in Thai Nguyen, with production due to begin in late 2027. Vietnam–China ties: National Assembly Chairman Tran Thanh Man met China’s top political adviser Wang Huning in Beijing, with both sides calling for stronger legislative and people-to-people exchanges. Seafood: Vietnam’s fisheries output rose 3.9% in the first nine months, supporting a US$12 billion export goal, though higher costs and softer demand pose challenges. Tourism: Mekong destinations, including Vietnam, are promoting rainy-season travel and greener experiences to attract visitors during the off-season.

Property Finance: Vietnam’s real estate bond issuance jumped 126% year on year to 149.5 trillion dong in the first nine months of 2026. New bonds carried average interest of 11.4%, while developers face 167 trillion dong in maturities through 2027. China Ties: China’s top political adviser met Vietnam’s National Assembly chair as the two sides pledged to expand legislative and people-to-people exchanges. International Law: At the UN, Vietnam reaffirmed its commitment to the rule of law and said maritime claims and disputes, including in the East Sea, must be handled under the Law of the Sea convention. Hanoi’s Future: The capital’s long-range plan puts the Red River at the centre of development, envisioning an ecological and cultural corridor along its banks. Workers’ Protection: Vietnam will examine who should pay social insurance contributions for ride-hailing drivers, as it considers protections for workers in the platform economy.

Vietnam–China Ties: National Assembly President Tran Thanh Man arrived in Beijing on October 11 for a visit through October 15, including talks with China’s legislature. Business Climate: Vietnam welcomed the EU’s decision to remove it from the bloc’s tax blacklist, citing reforms to improve transparency. Samsung plans a US$4.1 billion chip-testing investment in Thai Nguyen, with production slated to begin in late 2027. Market Watch: Real-estate bond issuance surged 126% to VND149.5 trillion in the first nine months, as developers prepare to refinance major maturities. Intellectual Property: Vietnam launched its first copyright infringement case involving Japanese media as it steps up its fight against piracy. Regional Diplomacy: Prime Minister Le Minh Hung’s first official visits to Laos and Cambodia reinforced ties and opened new avenues for cooperation.

EU Tax Status: The EU has removed Vietnam from its tax blacklist after reforms, but will continue monitoring outstanding commitments. Hanoi welcomed the decision, saying it recognizes efforts to improve transparency and the business environment. Cambodia Ties: Prime Minister Le Minh Hung’s visit to Phnom Penh produced six cooperation agreements, covering trade, security, education and drug rehabilitation. Both sides reaffirmed a $20 billion bilateral trade target. Flood Response: Vietnam sent troops and vehicles to flooded areas in Hue and Da Nang as heavy rain raised risks. Trade and Finance: A draft export strategy targets annual goods-export growth of 15–16% through 2030, while bank deposit rates have climbed to an average 6.38% as credit continues to expand. Urban Development: Hanoi has piloted a smart-street scheme in the Old Quarter, combining free Wi-Fi and digital heritage guides with tools for local businesses.

Flood Response: Vietnam has mobilized troops and armoured vehicles for rescue operations as heavy rain triggers flash floods and landslide risks, including in central regions. Cambodia Ties: During Prime Minister Le Minh Hung’s visit to Phnom Penh, Vietnam and Cambodia agreed to deepen cooperation and signed six agreements covering areas including security, education and trade. The leaders also backed peaceful resolution of the Cambodia–Thailand border dispute and highlighted the 60th anniversary of Vietnam–Cambodia relations in 2027. Economic Outlook: Vietnam’s economy grew 9.01%, while the country entered investment-grade territory for the first time, potentially lowering borrowing costs. Hanoi’s Future: On the 72nd anniversary of Capital Liberation Day, city leaders called for faster growth, better governance and improved living standards, guided by a 100-year development vision.

Flood Emergency: Heavy rain has flooded Hue and parts of Da Nang, with more downpours forecast through Sunday. Troops and amphibious vehicles are on standby as authorities warn of flash floods and landslides; one man remains missing after a boat capsized. Maritime Security: Iran’s Revolutionary Guard says it struck a Vietnamese LPG vessel near the Strait of Hormuz, setting its engine room ablaze. Cambodia Ties: Prime Minister Le Minh Hung’s visit to Phnom Penh brought pledges to deepen cooperation and push bilateral trade toward $20 billion, including through linked expressways and investment projects. Economic Outlook: Vietnam’s GDP grew 9.01% in the first nine months, while ratings agency R&I raised the country to BBB, its first investment-grade rating. Tech Incentives: The Finance Ministry has proposed long-term tax breaks for strategic-technology and high-tech firms and research centres.

Diplomacy: Prime Minister Le Minh Hung visited Vientiane, where he and his Lao counterpart paid tribute to the countries’ leaders as Vietnam and Laos seek closer cooperation. Investment: Japan’s R&I agency gave Vietnam its first investment-grade sovereign rating, a milestone that could widen access to international investors. Vietnam’s economy grew about 9% in the first nine months, while officials are pushing for foreign investment that brings technology and stronger links with local firms. Tourism: Phu Quoc topped Condé Nast Traveller’s 2026 list of Asia’s best islands, ahead of Bali. Digital Economy: Meta has barred TikTok and other ByteDance properties from advertising on its platforms in Vietnam and six other countries, escalating competition between the social media giants.

Regional Diplomacy: Prime Minister Le Minh Hung made Laos his first overseas destination, holding talks on closer ties and “strategic cohesion”; he is due to visit Cambodia on October 9–10. Investment and Industry: Vietnam’s registered foreign investment topped US$50 billion in the first nine months, while Samsung is expanding semiconductor production and Japan’s Mitsubishi Materials has begun sourcing recycled tungsten from Vietnam to reduce reliance on China. Growth Outlook: The World Bank raised its 2026 growth forecast for Vietnam to 7.4%, citing strong exports, including AI-related shipments. Energy: Japanese, U.S. and Russian companies are competing to develop Vietnam’s offshore oil and gas reserves as the country’s energy demand rises. Weather: Heavy rain and flooding are hitting central Vietnam, with Da Nang preparing emergency response vehicles.

Regional Diplomacy: Prime Minister Le Minh Hung’s visits to Laos on Oct. 8–9 and Cambodia on Oct. 9–10 aim to deepen trade, investment and strategic ties. Growth and Prices: Vietnam’s economy grew 9.01% in the first nine months, with third-quarter growth at 9.95%, but the World Bank forecasts 7.4% growth for 2026. Inflation reached 4.52%, putting pressure on efforts to sustain momentum. Investment and Industry: Registered foreign investment topped US$50 billion in nine months, up 76.4% year on year, but experts warn local firms capture little value from export supply chains. Samsung plans a US$5 billion expansion, while Vingroup and Alstom signed a deal for 200 Hanoi metro trains. Technology Rules: Vietnam is considering tighter oversight of AI-generated short films as regulators seek to address sensational content and protect audiences. Public Safety: Police arrested 12 suspects accused of stealing nearly 2,700 cats for the meat trade.

Growth and Investment: Vietnam’s economy grew 9.95% in the third quarter, while the World Bank raised its 2026 forecast to 7.4%. Registered foreign investment topped $50 billion in the first nine months, up 76.4%; inflation remains above target but, the central bank says, under control. Semiconductors: Samsung is expanding its Vietnam operations with a reported $5 billion investment, deepening the country’s role in chip production. Infrastructure Finance: Ho Chi Minh City is exploring international bond issues to help fund a major infrastructure push; it estimates investment needs of more than $122 billion in 2026–30. Diplomacy and Trade: Panama’s president visited Hanoi, where officials and business groups agreed to strengthen economic ties. Two-way trade reached $478 million in 2025. Aquaculture: A four-year, £2.4 million project will work with Vietnam’s pangasius farmers to find practical alternatives to antibiotics and tackle antimicrobial resistance.