Vietnam

Intelligence for Better Decision Making

Vietnam Gold Market Developments and Policy Responses
Nov. 20, 2025 | Financial System

Vietnam’s substantial private gold reserves present both a significant opportunity and a challenge for economic policy.

**Vietnam’s public holds an estimated 300–500 tons of gold, equivalent to about 8% of GDP, creating significant untapped resources.**
Mobilizing these holdings for economic use faces challenges due to the inefficiency of storing physical gold and the need for a long-term, confidence-building approach rather than a rushed campaign.

**Economic expert Nguyễn Trí Hiếu attributes recent high returns to a shift in public demand from real estate, stocks, and bank savings toward gold investment.**
He argues that successful mobilization requires reducing monopolies, broadening participation rights for enterprises and banks, ensuring transparent gold circulation, and developing secure investment products.

**Dr.**
Cấn Văn Lực of BIDV calls for a precise assessment of public gold holdings and full transparency of that data. He recommends maintaining strict control over gold bars and ingots to preserve financial stability while applying more flexible management to jewelry and artisanal gold. To limit systemic risk, he proposes suspending gold borrowing and lending, lowering processing costs, standardizing gold bar specifications, and expanding transparent investment channels to curb speculative demand.

**Ngô Trí Long proposes establishing a dedicated gold exchange to modernize market supervision and control.**
A functional exchange would monitor transactions, market flows, volatility, and risks in real time, enabling the State to set position limits and transaction caps. By linking physical market data with monetary policy indicators, the exchange would improve management of exchange rates, inflation, and macroeconomic stability. Recent legal reforms, including Decree 232, have expanded regulatory scope and introduced pilot derivative instruments, laying the groundwork for a modern gold management model aligned with international standards.

**Gold leasing platforms such as SafeGold and Goldstrom have emerged to bridge supply and demand.**
Total rented gold on these platforms rose from USD 2 million to USD 40 million this year as wealthy individuals lease gold bars to jewelry companies and craftsmen. Borrowers pay interest of 2–4% in gold, gaining access to capital without exposure to price volatility or the need for complex hedging strategies.

**These leasing arrangements carry counterparty risks, including default, delayed returns, and substitution with impure gold.**
Market participants mitigate these risks through rigorous verification, RFID tracking, surveillance, regular audits, comprehensive insurance, real-time monitoring, and explicit collateral seizure rights. Historical data indicate low default rates, and some Middle Eastern leasing models have operated without any defaults since 2006.

**On November 19 in Vietnam, SJC gold bars rose by VND 1.4 million per tael to VND 148.7 million for buyers and VND 150.7 million for sellers, following a VND 1.7 million drop the previous day.**
The buy-sell spread has held steady at VND 2 million per tael. After reaching a near-record peak of VND 154.5 million per tael last week, prices have declined by VND 5.3 million, leaving recent purchasers facing potential losses of around VND 7.3 million per tael if they sell now.

**Internationally, gold prices have fallen for three consecutive sessions to USD 4,062 per ounce, pressured by a stronger US dollar and reduced expectations of a December interest rate cut.**
Investors await upcoming US economic data—including the September jobs report and Federal Reserve meeting minutes—to clarify monetary policy direction. Key Fed officials have cautioned against premature rate reductions, and the CME FedWatch tool shows the probability of a rate cut next month falling from over 60% to 41%.
Leadership Transitions Reshape Provincial Governance in Vietnam
Nov. 20, 2025 | Governance & Law

Vietnam’s central and provincial Party Committees conducted high‐level personnel changes across Nghe An, Tay Ninh, and Dong Nai provinces between November 17 and 18, 2025.

**In Nghe An Province, the Central Secretariat on November 17 transferred Vo Trong Hai from his roles as deputy secretary of the Ha Tinh Provincial Party Committee and chairman of the Ha Tinh People’s Committee to the Executive and Standing Committees of Nghe An.**
The following day, the Nghe An People’s Council unanimously approved him as chairman of the Nghe An People’s Committee for the 2025–2030 term, replacing Le Hong Vinh, who was dismissed and relieved of his council delegate status after reassignment. The council also removed Nguyen Duc Trung from his delegate role after his appointment as deputy secretary of the Hanoi Party Committee and chairman of the Hanoi People’s Committee. Born in 1968 in Ha Tinh, Vo holds a command officer degree from the Border Defense University and a law degree. He has led Ha Tinh’s Border Guard, chaired the Party Committee’s Internal Affairs Commission, directed police departments in both Ha Tinh and Nghe An, earned a promotion to major general in September 2020, and served as Ha Tinh People’s Committee chairman from April 2021 until his reassignment. In his inaugural address, he pledged to act with determination and innovation to meet early development targets and to drive sustainable growth and momentum across Nghe An.

**Meanwhile, in Tay Ninh Province, the 6th special session of the 10th Tay Ninh People’s Council on November 18 accepted Nguyen Van Ut’s resignation as chairman of the People’s Committee and as a provincial delegate for the 2021–2026 term, following his reassignment by the Party Central Secretariat to Dong Nai.**
The council then elected Le Van Han as the new chairman for the same term. Born in 1970 in Vinh Long, Han holds bachelor’s degrees in Literature Education and Public Administration and a master’s in Educational Management. He led the Tra Vinh People’s Committee from November 2020 to June 2025, served as deputy secretary of the Vinh Long Provincial Party Committee and chair of the Vietnam Fatherland Front chapter after Vinh Long Province’s merger, and sat on the Vinh Long Provincial Party Committee’s Executive and Standing Committees for the 2025–2030 term before his reassignment to Tay Ninh.

**On the same day in Dong Nai, the 7th session of the 10th Provincial People’s Council dismissed Vo Tan Duc as chairman of the People’s Committee and unanimously elected Nguyen Van Ut—formerly deputy secretary of the Dong Nai Provincial Party Committee—to the chairmanship with 100 percent of votes.**
Earlier, the Dong Nai Provincial Party Committee announced the Politburo’s decision appointing Ut to its Provincial Party Committee, Standing Committee, and as deputy secretary for the 2025–2030 term. Aged 56 and native to Tay Ninh Province, Ut holds bachelor’s and master’s degrees in economics. He has led Duc Hoa District, held posts in Long An Province, and chaired the restructured Tay Ninh Province before this reassignment. In his remarks, he thanked his colleagues for their trust and vowed to pursue collaborative, consultative leadership to strengthen Dong Nai’s role as a growth engine for the Southeast region.

Monitored Intelligence for Vietnam - Nov. 20, 2025


News
Media
104

Government
Releases
22

City/State
Releases
0

Embassy
Releases
3
Foreign
Service
Advisories
0
Academic/
Think
Tank
0


Podcasts
0


Videos
0

Social
Media
0

Business
Releases
12

Erudite Risk takes an all risks approach to intelligence reporting. We categorize key intelligence into one of 40 different risk intelligence categories.

The goal is to provide intelligence that allows decision makers to avoid being blindsided by what they may have missed, while informing them to make better decisions as well.

Risk Categories Reported on Today

Risk Category
Items Reported On
Accidents
2
Regulation
5
Shifting Geopolitical Alliances
1
Man-made Environmental Disasters
1
Natural Disasters
8
Terrorism
1
Corporate Corruption or Fraud
2
Epidemics and Pandemics
1
Critical Infrastructure Failure
2
Extreme Weather Events
3
Pollution
1
Geopolitical Conflict and Disputes
1
Supply Chain Issues
1

Erudite Risk also includes operations categories so you can monitor the environment for better decision making. Everything is tied together--what happens in risk affects operations and what happens in the market impacts risk profiles.

We categorize key intelligence into one of 30 different operations intelligence categories.

Different roles and functions within the organization can monitor different key issue areas. HR may monitor employment, wages, regulations, labor and management relations, etc., while P&L leaders may monitor overall developing trends.

Operations Categories Reported on Today

Operations Category
Items Reported On
Asset Price Change
7
Economic Growth
6
Tech Development/Adoption
4
Trade Issues and Numbers
1
Taxes
3
Political Policy Resistance
1
Bizdev-Partnering
4
Real Estate
2
Demographics
1
Mergers & Acquisitions
1
Financial System Problems
1
Politics and Elections
1
Energy Prices
1
Wages and Compensation
1
Investor Sentiment
1

Vietnam proposes license plate-style ID system for drones

Vietnam Net - E | English | News | Nov. 20, 2025 | Regulation

Vietnam is developing a drone supervision and management framework to address regulatory gaps arising from the unique behaviors of low-altitude UAVs, which differ significantly from traditional aircraft. Nguyen Thanh, a researcher at the Posts and Telecommunications Institute of Technology (PTIT), highlighted the need for legal frameworks and technical infrastructure to support safe and healthy development in this sector. He proposed creating a specialized "air traffic police" force and a robust drone monitoring system that would include a centralized control center, legal management via 4G/5G networks, radar detection of illegal drones, and countermeasures for neutralizing threats.

A key element of the plan is requiring drone owners to register devices to receive unique identification codes similar to vehicle license plates. Each drone would be equipped with communication modules to transmit real-time location and flight data via mobile networks. The proposed drone monitoring system envisions low-altitude radar networks to detect unauthorized UAV activity by comparing flight data against a centralized database. Vietnam plans to trial this system in a limited area by 2028, expand coverage to critical zones by 2030, provincial levels by 2032, and districts and communes by 2035.

The urgency of enhanced drone management is underscored by recent incidents, including UAV intrusions at Tho Xuan Airport in Thanh Hoa in June 2025, which disrupted civilian flights and prompted stricter security measures. Le Thi Phuong from the Vietnam Air Traffic Management Corporation noted the increasing safety risks due to the influx of low-altitude drones and the ongoing modernization of aviation infrastructure to mitigate these risks.

Vietnam’s regulatory approach is informed by international examples, such as the U.S. Federal Aviation Administration (FAA), which mandates real-time electronic identification of drones and establishes designated low-altitude corridors for safety. Successfully implementing a comprehensive drone regulatory framework could enable Vietnam to harness the low-altitude economy, projected to add $10 billion to the national economy by 2035.

Rising FDI inflows drive surge in M&ampA deals

Vietnam Net - E | English | News | Nov. 20, 2025 | UndeterminedMergers & Acquisitions

Foreign direct investment (FDI) into Vietnam has risen sharply over the first 10 months of 2025, reaching $31.52 billion, up 15.6% year-on-year, driven by strong reforms to improve the investment environment. Although newly-registered capital declined, capital contributions and share purchases surged by 45.1% to $5.34 billion. Ho Chi Minh City attracted nearly $7.3 billion in FDI, up 28.67%, with $3.33 billion coming from capital contributions, share purchases, or stake acquisitions across 2,098 approved applications.

Mergers and acquisitions (M&A) activities have accelerated in this environment, with 52 M&A deals completed in October 2025 alone, valued at around $720.4 million. Key transactions include OCI Holdings (South Korea) acquiring a 65% stake in Elite Solar Power Wafer, Levanta Holding (Singapore) purchasing 80% of HBRE Gia Lai Wind Power for $33.1 million, and Sumitomo Corporation (Japan) acquiring a 49% stake in Cuu Long Energy and Engineering Consulting JSC. Foreign investors from Japan, South Korea, and Europe remain the most active in equity acquisitions and joint ventures.

Administrative reforms in Ho Chi Minh City have significantly contributed to attracting FDI and boosting M&A deals by reducing and simplifying over 800 administrative procedures. Processing times for investment registrations and capital contribution applications have been cut dramatically, such as investment registration certificates processing reduced from 15 to 7 working days. The establishment of a one-stop mechanism for handling investment procedures has enhanced efficiency, encouraging investors from Japan, the US, and Europe to express readiness to expand investments if procedures remain fast, simple, and predictable. Local authorities continue prioritizing administrative reform as a key driver of investment success and improved governance capacity.

Thủ tướng chỉ đạo tập trung ưu tiên giữ vững ổn định kinh tế vĩ mô, thúc đẩy xuất khẩu

Prime Minister directs focus on prioritizing macroeconomic stability and promoting exports

Bao Dien Tu | Local Language | News | Nov. 20, 2025 | UndeterminedEconomic Growth

Since early 2025, the Vietnamese Government and Prime Minister have implemented measures focused on managing the macroeconomy, boosting exports, and expanding markets. By October 2025, macroeconomic stability was maintained with controlled inflation, economic growth, and secured major balances. The country's total merchandise trade reached $762.4 billion, a 17.4% increase year-over-year, including $391 billion in exports (up 16.2%) and $371.4 billion in imports (up 18.6%), resulting in a trade surplus of $19.6 billion.

Amid ongoing global uncertainties, the Prime Minister directed continued efforts to sustain economic growth above 8% in 2025 while preserving macroeconomic stability. Ministries, agencies, and local authorities have been instructed to implement key tasks such as maintaining stable inflation through coordinated monetary and fiscal policies, strengthening credit control, managing exchange rates, and promoting export growth especially during peak holiday demand periods.

The Ministry of Industry and Trade has been tasked with diversifying markets and products, accelerating trade agreement negotiations with partners like the GCC, Pakistan, and MERCOSUR, and supporting enterprises to leverage free trade agreements (FTAs). The Ministry of Finance is focused on expanded but targeted fiscal policies, adjusting tariffs aligned with integration goals, and supporting businesses affected by U.S. retaliatory tariffs. Customs agencies are to enhance quality controls to prevent low-quality or fraudulent goods imports.

Agriculture and fisheries sectors have been directed to combat illegal fishing, invest in infrastructure, achieve sustainable development, and improve product traceability and branding. Economic diplomacy through the Ministry of Foreign Affairs aims to expand export markets, particularly promoting the Vietnam-GCC FTA, while working groups across ministries target new markets in the Middle East, Africa, and Latin America with ongoing FTA negotiations planned through early 2026.

Local governments are urged to identify and resolve export-related obstacles, especially for agricultural products, to prevent logistical issues and support production planning. State-owned and exporting enterprises should focus on flexible production planning, technology adoption, branding, and market diversification to improve competitiveness.

Deputy Prime Ministers are assigned to oversee implementation progress, with the Government Office monitoring execution and reporting as needed. The directive aligns with broader national goals of achieving sustained high economic growth, further integration into global markets, and strengthening Vietnam’s position as a resilient and rapidly growing economy in the Asia-Pacific region.

Try the Daily Briefing for your country of choice for two weeks--free of charge and with no obligation.

Have a service or subscription question? We'd be happy to hear from you.

How can we help?
Full Name:
Email Address:
Type of Inquiry:
Country of Interest:

Contact us for a free trial of the Daily Briefing for your country of choice.


We currently cover:
South Korea
Japan
China
Taiwan
Vietnam
India

info@eruditerisk.com

The Daily Briefing is delivered Monday through Thursday via email.

Each day's reports include a combination of:

Takes
Takes are our deep dives into a topic of enduring interest or concern. Takes include copious references to all the media resources we gathered to build them.

Developments
Developments are key issues and incidents being heavily reported on in country. These are the centers of local thought gravity around which everything else revolves.

Risk Media
Summaries and analysis of the most important risk issues reported on in media, arranged by risk category. Learn about risk trends and issues while they are developing--before they blow up.

Ops Media
Summaries and analysis of the most important operational issues reported on in media, arranged by operations category. See what's changing in your market, and what's not.

Government Releases
Government press and data releases on key economic data, regulation, law, intiatives, incidents. Straight from the government's press to your eyes in less than a day.

Embassy and Business Association Releases
Statements and news releases from foreign embassies and business/industry associations, including chambers of commerce.

The Daily Briefing is comprehensive!

The Daily Briefing can run 50-100 pages each day!

Luckily, Erudite Risk tailors every report specifically to you.

Content Filtering
We try hard to ensure that every piece of information included in each day's reports will be of interest to our readers.

To fulfill our goal of comprehensively monitoring the intelligence landscape and also keeping reports readable, we build big reports--then deliver only the information that applies to you.

Each Daily Briefing is a bespoke report matched to your concerns. Tell us what you want in it, or we can match it to your professional needs. It's that easy.