Vietnam news in brief - June 26

Vietnam strengthens financial cooperation with China

During his official visit to China, Prime Minister Pham Minh Chinh met with leaders of the Shanghai Stock Exchange on June 26 to seek expertise for the development of a financial center in Vietnam. The two sides discussed ways to strengthen cooperation in capital markets. Vietnam remains Shanghai’s largest ASEAN trading partner, with trade surpassing $18.4 billion in 2024.

Vietnam, India advance strategic and economic ties

Vietnam and India agreed to boost cooperation in defense, industry, trade, investment, and AI and semiconductors at their 13th Political Consultation and 10th Strategic Dialogue in New Delhi on June 25, aiming to strengthen their Comprehensive Strategic Partnership as bilateral trade reached US$15 billion in 2024.

Vietnam upgrades personal data protections

Vietnam’s National Assembly passed the Personal Data Protection Law on June 26, effective from January 1, 2026. The law aligns with international treaties and eases compliance by replacing pre-approval with post-assessment for cross-border data transfers. It prohibits the trading of personal data except when permitted by law and exempts startups and microbusinesses from certain obligations for five years.

Vietnam's port capable of hosting international ships

Trung Nam Ca Na International Port in Vietnam on June 25 welcomed Germany’s ESHIP 1 to deliver 51 wind turbine blades and 204 Enercon components, marking the port’s debut on the global industrial shipping map and strengthening Vietnam’s renewable energy logistics. Under the updated national power plan, the port is set to support future offshore wind, LNG, and nuclear projects.

Vietnamese firm expands regional impact

Coteccons jumped to 304th in the 2025 Fortune Southeast Asia 500, one of 76 Vietnamese firms to make the list. The rise highlights the company’s strong ESG performance and growing regional footprint. By partnering with FDI giants like LEGO and Pandora, Coteccons is driving Vietnam’s integration into global value chains and reinforcing its role as a top sustainable private contractor in Southeast Asia.

Work begins on President Ho Chi Minh memorial in Dien Bien

The northern mountain province of Dien Bien on June 26 broke ground on the President Ho Chi Minh Memorial at Hill E2 at US$1.4 million. The project includes a solemn memorial house, an expanded exhibition space, and upgraded infrastructure. Situated on a battlefield from the Dien Bien Phu campaign, the memorial aims to promote patriotism and revolutionary values among younger generations.

HCMC to waive construction permits for private houses

Ho Chi Minh City is developing detailed plans and architectural regulations to waive building permits for standalone homes. Permitting authority will be decentralized to the district and commune levels. This change is expected to reduce time and costs, reduce bureaucratic red tape, and transform urban management.