Vietnam news in brief - March 19

Vietnam and Hungary mark 75 years of diplomatic ties

The HCM City People's Committee held a ceremony on March 19 to commemorate 75 years of Vietnam-Hungary diplomatic relations (February 3, 1950 - February 3, 2025). The committee's Deputy Chairman Vo Van Hoan congratulated the long-standing friendship between the two nations and looked forward to maintaining cooperation in many fields and providing mutual support in international forums. Since upgrading the relationship to a Comprehensive Partnership in 2018, Hungary has been an important partner of Vietnam, investing US$9.2 million in nine projects in Ho Chi Minh City.

Vietnam’s real estate market gains momentum with increased investment

According to JLL's Vietnam Real Estate Market Outlook 2025, Vietnam's real estate market is set for a strong recovery in 2025, driven by improved investor sentiment, lower borrowing costs, and increased transactions. FDI disbursements reached $25.4 billion in 2024, up 9.4% year-on-year. With a growing middle class and improved investment environment, Vietnam remains Southeast Asia's key real estate destination.

Vietnam to build first wafer fab

Vietnam has officially approved the construction of its first wafer fabrication plant, with a total investment of $512 million. The project is expected to be completed before 2030 and will specialize in producing chips for defense, artificial intelligence, and high-tech applications, aiming to boost Vietnam's semiconductor industry in line with the government's 2030-2050 strategy.

Phu Quoc Airport expansion under study

The southernmost province of Kien Giang is exploring the expansion of Phu Quoc International Airport under a public-private partnership (PPP) model in preparation for hosting the APEC Economic Leaders' Week in 2027. Sun Group has shown interest in the project and has submitted plans for the airport expansion, which is expected to be completed in 16-18 months. Phu Quoc International Airport is a key gateway for international trade, tourism, and economic growth in southern Vietnam. By 2050, the airport is expected to handle 18 million passengers and 50,000 tons of cargo per year.

Hanoi promotes interactive Earth Hour events

Earth Hour 2025 in Hanoi will feature interactive events to promote sustainability, including the installation of a solar-powered traditional house at Hoan Kiem Lake on March 22. Themed "Green Transition - Green Future," the campaign encourages the use of renewable energy and aims to inspire climate action. Highlights include a flash mob, cycling to generate electricity, and exhibitions by energy companies.

Bac Giang expands industrial clusters

By 2030, the northern province of Bac Giang will have 63 industrial clusters covering 3,006 hectares, including 36 existing clusters, three expansions, and 24 newly planned clusters. The province aims to speed up infrastructure development and attract investment. Currently, 55 clusters have been established, hosting 297 projects with a total registered capital of $1.4 billion, creating around 45,000 jobs.

Celebrating the 100th anniversary of Vietnam’s Revolutionary Press

A series of events to celebrate the 100th anniversary of Vietnam's Revolutionary Press (June 21, 1925 - June 21, 2025) and the 75th anniversary of the Vietnam Journalists Association (April 21, 1950 - April 21, 2025) will be held in Hanoi on June 21. Activities include the National Press Festival, an exhibition showcasing 100 years of achievements in revolutionary journalism, a national journalism forum, award ceremonies, cultural performances, and visits to historical sites.

Hue intensifies heritage conservation

The central city of Hue is restoring the western part of the Hue Imperial Citadel in Thuan Hoa Ward, Phu Xuan District. The project includes restoration of the citadel walls, repair of the stone embankments, and dredging of the moat. With a budget of over $1.9 million, it is part of a larger conservation effort and is expected to be completed by October 2027.