Vietnam news in brief - January 15

General Secretary attends groundbreaking for Westlake Guesthouse renovation

General Secretary To Lam on January 15 participated in the groundbreaking ceremony for the renovation of the Westlake Guesthouse, a key venue for hosting major political events. The renovation project will upgrade the facility with state-of-the-art amenities, incorporating advanced digital technology to meet modern requirements. The project is scheduled for completion by the third quarter of 2027.

Prime Minister sets 2030 target for completion of Ninh Thuan nuclear plant

Prime Minister Pham Minh Chinh on January 15 outlined a goal to complete the construction of the Ninh Thuan Nuclear Power Plant within five years, with an operational date set for 2030. He highlighted the importance of clear task allocation, strengthened international cooperation, infrastructure development, and the creation of special mechanisms to ensure the project’s timely and efficient progress.

China’s exports to Vietnam hit record US$162 billion in 2024

Chinese Customs reported that China’s exports to Vietnam surged to a record US$162 billion in 2024, marking an 18% increase from the previous year. This growth established Vietnam as China’s third-largest export market. According to Bloomberg, the rise was largely driven by increased shipments of technical components from China, which are assembled in Vietnam before being re-exported to the US and other markets.

Vietnam and Japanese prefecture sign labor cooperation memorandum

The Department of Overseas Labor Management and Japan’s Mie Prefecture on January 15 signed a memorandum of understanding to facilitate the recruitment of Vietnamese workers to the prefecture. In 2024, an estimated 150,000 Vietnamese workers went abroad, surpassing the target by 120% and contributing between US$3.5 billion and US$4 billion in remittances. Nearly 70,000 Vietnamese workers were employed in Japan from January to November.

Vietnamese and Indonesian navies enhance maritime security cooperation

The Vietnamese and Indonesian navies on January 15 held a bilateral dialogue in the northern city of Haiphong to enhance cooperation on maritime security. Both sides agreed to bolster delegation exchanges, officer interactions, joint patrols, search and rescue operations, and efforts to combat illegal fishing in the region.

Danang moves forward plans for a global financial hub

Danang will host a workshop on January 16 focused on developing regional and international financial hubs. The event aims to attract investment, strengthen financial ecosystems, and promote policies to establish Danang as a financial center. It will feature MOUs with financial institutions and funds, emphasizing fintech, green finance, and international trade services, while leveraging Vietnam’s strategic location and favorable economic policies.

F&N Dairy seeks to expand its stake in Vinamilk

F&N Dairy Investments, owned by Thai billionaire Charoen Sirivadhanabhakdi, plans to purchase an additional 20.9 million shares of Vinamilk, increasing its stake to 18.69%. Currently holding 17.69%, F&N intends to acquire the shares through market transactions between January 17 and February 14. Despite previous unsuccessful attempts, F&N remains Vinamilk's largest foreign shareholder, while the State Capital Investment Corporation (SCIC) holds the largest overall stake at 36%.

Ho Chi Minh City celebrates Tet with cultural festivities and traditions

Ho Chi Minh City will celebrate the Lunar New Year and the 95th anniversary of the Communist Party of Vietnam (1930-2025) with a series of "Cultural and Compassionate Tet" activities. Key events include exhibitions (Jan 25–Feb 9), Tet flower markets (Jan 14–28), cultural performances, and a fireworks display at midnight on January 29. Notable highlights such as the Spring Flower Festival (Jan 26–Feb 2), Street Book Festival (Jan 27–Feb 2), and memorial ceremonies (Jan 24) are aimed at preserving traditions and strengthening community spirit.

Ben Tre invests in marine economy for sustainable development

The southern province of Ben Tre has invested over $43.8 million in six key projects to boost Ba Tri district’s marine economy. Highlights include a high-tech shrimp farming zone $6.9 million, a storm shelter for fishing vessels $11.8 million, and coastal erosion prevention $8.9 million. These projects aim to enhance aquaculture infrastructure, promote sustainable development, and improve livelihoods in the region.