Vietnam Economy
Vietnam's 'Vingroup-ization': When One Conglomerate Makes Up 40% of the VN30
The VN-Index hit 1,900. But does that number still represent Vietnam's economy?
Latest
Saigon's Hà Tâm Gold Shop Has Quietly Closed. Vietnam's 2026 FX Rules Are the Bigger Story
Hà Tâm, the gold shop next to Bến Thành Market that nearly every tourist in Saigon has used, has closed. Its company registration is still active. The bigger story is the new FX penalty law that took effect this February.
Politics
Takaichi's 48 Hours in Hanoi: Japan to Unveil Reworked Indo-Pacific Strategy on Vietnamese Soil
Sanae Takaichi makes her first visit to Vietnam as Japan's prime minister. The 48-hour trip packs both summits and a major foreign-policy speech into a single day. Hanoi has been picked as the launch pad for Japan's reworked FOIP framework.
Dong Nai Becomes Vietnam's 7th Centrally-Governed City: 4.49 Million People, Effective April 30
Vietnam established Dong Nai as its 7th centrally-governed city on April 30 — 38 days after the Politburo's March 23 endorsement. With 4.49 million people, GDP rank #4, and Long Thanh Airport opening this year, the upgrade aligns with Vietnam's southern metropolitan reset.
As Mixue Retreats, Vietnam's Coffee and Tea Chain Market Splits in Two
Mixue closed more than 400 international stores in its latest fiscal year, with Vietnam and Indonesia bearing the brunt. But local brands like Highlands, Phúc Long and Katinat keep expanding. Vietnam's $1.3 billion beverage chain market is not shrinking — it is splitting along consumer preference.
Vietnam Economy
Pham Nhat Vuong Surpasses Jack Ma: Net Worth Jumps $2.9B in One Day, World's 65th Richest
At noon on April 23, Pham Nhat Vuong's net worth reached $34.9 billion, up $2.9 billion in one day. He is now Forbes' 65th richest person and Southeast Asia's wealthiest. When Forbes first recognized him in 2013, he was worth $1.5 billion and ranked 974th.
Four Years Without a New Unicorn: The Quiet Collapse of Vietnam's Tech Elite
In 2021 Vietnam seemed to have five unicorns ready to rewrite Southeast Asian tech. By 2026 the official count is two. Tiki crashed below $10M, Sky Mavis tokens fell 99%, VNG posted its fifth straight annual loss, VNPay's valuation is frozen, and MoMo has put IPO plans on hold.
Zalo's Long Defense: The App Every Vietnamese Opens, but Few Stay On
In late 2012, VNG CEO Lê Hồng Minh wrote that Zalo was in an 'extremely fragile position.' He had an easier option: license Tencent's WeChat. He didn't take it.
Vietnam Tech
Threads' Next Asian Stronghold: Vietnam Hits 4.65M Users as Meta Bets on 2026 Ads
Vietnam has around 4.65 million monthly Threads users and ranks in the global top 3-5 for traffic. Meta has made Threads ads a 2026 priority for the market.
Vietnam Policy
Hanoi's July Petrol Motorbike Ban Pilot: The Scope Shrank to 2% in 9 Months
Vietnam has 80 million motorbikes and Honda holds 80% of the market. A July 2025 prime ministerial directive ordered petrol motorbikes banned from Hanoi's inner ring by July 2026. Nine months later, the pilot covers just 11 streets — about 2% of the original scope.
Startups
Ho Chi Minh City's First State-Led Venture Fund: Nine Conglomerates at One Table, Manager Liability Waiver in the Rules
HCMC's first state-initiated venture fund, HCM VIF JSC, launched April 17. Charter capital is VND 500 billion (about USD 20 million), with the city at 40% and nine private conglomerates at 60%. The enabling decision includes a 50% risk threshold and a manager liability waiver.
Vietnam Economy
Vietnam's $40 Billion Gold Vault: A Cross-Section of a Fractured Financial System
Vietnamese households quietly hold 400-500 tonnes of gold — roughly $35-40 billion, close to 8% of GDP. Hanoi wants to mobilize it. The hard part was never the technology.