Vietnam news in brief - May 21

Vietnam boosts APEC prep with major infrastructure projects

In preparation for hosting APEC 2027 on Phu Quoc Island, Vietnam has approved 21 key infrastructure projects worth over US$5.4 billion, aiming to boost its international profile. The focus areas include a convention center, smart city systems, and green transition. The island aims to become a top 10 global destination and a fuel-free zone by 2030.

WHO recognizes Vietnam for eliminating trachoma

At the 78th World Health Assembly in Geneva, Vietnam received official recognition from the World Health Organization (WHO) for eliminating trachoma as a public health problem. Deputy Health Minister Tran Van Thuan reaffirmed Vietnam’s commitment to global health cooperation, emphasizing its 50-year partnership with the WHO, as well as its efforts in climate resilience and equitable healthcare.

Vietnam strengthens regional defense ties 

Vietnam is attending the Langkawi International Maritime and Aerospace Exhibition (LIMA 2025) in Malaysia from May 18 to 23, which features 860 exhibitors from 24 countries. During the exhibition, the Vietnamese delegation held bilateral meetings, explored advanced technologies, and promoted regional security ties. LIMA, one of the world’s largest defense exhibitions, provides Vietnam with valuable opportunities to strengthen multilateral cooperation and improve its global defense profile.

HCMC enters Southeast Asia’s top 5 innovation hubs for first time

According to StartupBlink’s 2025 report, Ho Chi Minh City has ranked among Southeast Asia’s top five startup ecosystems for the first time and climbed to 110th globally. The city excels in fintech and blockchain, ranking second regionally with four consecutive years of growth. By 2030, HCMC aims to be in the global top 100 by improving its policies, infrastructure, and talent to foster a vibrant innovation landscape.

Dong Nai sets up $275 million land development fund

Dong Nai, a southeastern province and one of Vietnam's industrial hubs, has established a land development fund with $275 million in charter capital to support strategic infrastructure and industrial projects. The fund will effectively manage land resources and support key developments, such as Long Thanh International Airport, expressways, and green industrial zones. This will position the province as a southern hub for logistics, innovation, and smart urban growth.

Danang to host biggest-ever international fireworks festival

The central city of Danang will host the longest and largest International Fireworks Festival (DIFF) ever from May 31 to July 12. The festival will have 10,200 seats, and tickets will range in price from US$32 to US$178. The event features a 1,600-square-meter stage – 60% larger than last year – equipped with LED floors, surround sound, and five moving domes. The festival has been held annually since 2008 and expanded internationally in 2017 to include teams from countries such as South Korea, Italy, Canada, and China.

SHB wins 2025 award for public sector banking excellence

SHB was named Vietnam’s Best Bank for Public Sector Clients at the 2025 FinanceAsia Awards for its digital partnerships with hospitals, universities, and tax authorities, as well as for financing major national projects. From 2024 to 2028, SHB plans to become a leader in efficiency, digital banking, and sustainable development by implementing a comprehensive transformation strategy.