Vietnam news in brief - May 10

Vietnam's flower exports exceed US$100 million

Vietnam has nearly 45,000 hectares under flower and ornamental plant cultivation, with an annual growth rate of 6%-8%. Flower exports have exceeded US$100 million, with orchids, roses, and chrysanthemums being the top hard currency earners. The Ministry of Agriculture and Environment has outlined five strategies for sustainable growth: policy improvement, specialized farming, technology adoption, national branding, and training for farmers and artisans.

TTC AgriS vows to work for fewer emissions in agriculture

TTC AgriS, which accounts for 46% of the domestic sugar sector's marketshare and exports available in 50 countries, on May 10 signed an agreement with the Ministry of Agriculture and Environment to promote net-zero agriculture through circular practices. The partnership will incorporate advanced technologies such as AI, blockchain, IoT, and renewable energy into agriculture. Both parties are committed to developing a sustainable agricultural value chain, from raw materials to consumption, to modernize the sector and protect the environment.

Hanoi to use AI to combat fake news 

Hanoi aims to leverage AI to monitor online content and combat fake news through the Hanoi Press Center, which opened on May 9. The center combines digital technologies, live studios, and high-speed networks to support journalists. The city plans to use AI to track media trends, predict misinformation, and measure content reach, while also pushing for full online administrative filing and an 80% e-government adoption rate among citizens this year.

Ho Chi Minh City to expand industrial parks by 3,800 hectares

Ho Chi Minh City plans to add 14 new industrial parks with a total area of over 3,800 hectares by 2030. More than 1,000 hectares will be developed by 2030, and 10 parks will be expanded by 2033. The city is prioritizing high-tech, green, and circular industries, and is exploring the possibility of merging parks from neighboring provinces to improve regional connectivity.

Vinh Phuc's tax receipts exceed US$495.5 million in four months

By April-end, the northern province of Vinh Phuc, which is home to dozens of industrial parks, reported US$495.5 million worth of budget revenue, up 4.8% year-on-year, driven by FDI from Honda and Toyota. The province is targeting a total revenue of US$1.37 billion this year, including US$800 million from FDI enterprises. Vinh Phuc is focusing on public investment, administrative reforms, and boosting business dialogue to sustain growth.

Quang Nam to develop Ngoc Linh Ginseng Hub as a medicinal center 

The central province of Quang Nam has outlined plans to develop an industrial hub for medicinal herbs, with Ngoc Linh ginseng as the flagship crop. The initiative aims for sustainable growth while preserving herbal culture and supporting local livelihoods and forest conservation. The province has 15,000 hectares dedicated to ginseng cultivation, and the project is expected to significantly boost the national medicinal herb industry.

Hoa Phuong Do train launched between Hanoi and Haiphong

The high-end "Hoa Phuong Do" train was launched on May 10 to strengthen connections between Hanoi and the northern coastal city of Haiphong and promote green tourism. The train will make 4-6 trips a day, with fares starting at around US$4.47. The launch marks an important step for the railway sector, which could make full use of the coastal city's cultural activities and cuisine.

EVN electricity price increase from May 10th

Effective May 10, the Vietnam Electricity (EVN) increased the average retail electricity price by 4.8% to US$0.094 per kWh, excluding VAT. Low-income households will receive a subsidy of 30 kWh/month to mitigate the impact. EVN also forecasts an additional 33.6 billion kWh of electricity supply in 2025 compared to 2024.