Vietnam

Intelligence for Better Decision Making

Vietnam Launches Comprehensive Overhaul of Standards and Quality Management
Oct. 20, 2025 | Governance & Law

Vietnam has launched sweeping administrative reforms to streamline technical standards and product quality management.

**Prime Minister Pham Minh Chinh directed ministries to overhaul national standards, technical regulations, and quality management processes, aiming to cut administrative burdens and boost transparency.**
He ordered the elimination of unnecessary technical barriers and “sub-licenses,” the reduction of procedural steps, and the decentralization of authority across relevant ministries. He also called for fast-tracking a publicly accessible, interoperable national database on standards, metrology, and quality to simplify inspections, accelerate certifications, and curb corruption.

**The Ministry of Science and Technology has submitted draft laws on standards and technical regulations, and on product and goods quality, to the National Assembly.**
These proposals would unify the legal framework, resolve overlapping conformity assessments, and replace a pre-inspection model with a risk-based post-inspection approach. By simplifying administrative procedures and leveraging digital transparency, the drafts intend to save businesses both time and costs.

**To support these reforms, the government will review and categorize all 824 national technical regulations by product risk level.**
Authorities will amend, abolish, or consolidate outdated or inappropriate provisions, enable enterprises to make self-declarations against clear standards, and shift the focus toward post-market inspections. Where suitable, the system will recognize international standards such as ISO 22000, GMP, and HACCP.

**Ministries of Construction; Industry and Trade; Health; Finance; Agriculture and Rural Development; and Environment must collaborate on drafting standards and quality regulations.**
They are to submit a decree guiding implementation of the new laws and coordinate amendments to sectoral legislation by the fourth quarter of 2025. In doing so, each ministry must ensure legal consistency, maintain transparency, and prevent unjustified barriers to business and citizen activities.

**In critical sectors like food safety and biomedicines, the government will preserve stringent controls to protect public health while streamlining procedures, decentralizing authority, and mobilizing social resources.**
It will strengthen enforcement capacity and impose strict penalties for noncompliance to guarantee product safety without imposing unnecessary rigidity on administrative processes.
Inspection Uncovers Misuse of Bond Proceeds at Major Vietnamese Banks
Oct. 20, 2025 | Financial System

Vietnam’s Government Inspectorate reviewed private corporate bond issuances and fund usage at five commercial banks from January 1, 2015, to June 30, 2023.

**The review covered 67 issuing organizations and examined how well banks adhered to issuance plans and disclosure requirements.**
Military Commercial Joint Stock Bank (MB), Asia Commercial Bank (ACB), Vietnam Prosperity Joint Stock Commercial Bank (VPBank), Vietnam International Commercial Joint Stock Bank (VIB), and Orient Commercial Joint Stock Bank (OCB) issued a combined 255.107 trillion VND in bonds. They deployed these funds primarily for unsecured customer lending. Inspectors analyzed 386 bond codes with tenors of one to ten years and either fixed or floating interest rates. Banks issued the bonds to boost capital, supplement Tier 2 capital, and support customer credit granting. By June 30, 2023, 173 bond codes remained outstanding, with a total value of 97.828 trillion VND.

**Inspectors found that three of the five banks diverted bond proceeds to uses not aligned with their issuance plans and disclosure documents.**
ACB issued two tranches in December 2018 and December 2019, earmarking proceeds for medium- and long-term lending, but allocated part of those funds to short-term loans. ACB explained that it had combined short-term loans with medium- and long-term figures in its reports, then launched a review and remediation process under Inspectorate regulations. By September 24, 2025, the bank had corrected its bond issuance plans, updated disclosure documents, and filed a detailed implementation report.

**In addition to regulatory corrections, ACB strengthened its information-disclosure process to ensure accuracy and timeliness.**
It improved fund management for subsidiary transactions, reinforced controls to guarantee full and timely principal and interest payments, legally registered secured transactions with guarantors, and identified individuals responsible for prior violations for appropriate handling. The bank reports that it has fully implemented these measures and established ongoing controls, compliance monitoring, and timely reporting for future bond issuances and fund usage.

**Another inspected bank cited difficulties in distinguishing loan maturities when pooling funds and urged the State Bank to adjust related policies.**
The Inspectorate concluded that three of the five banks misused bond proceeds, calling for sustained oversight of private corporate bond issuance, strict adherence to disclosed fund-allocation plans, and rigorous information disclosure standards.

Monitored Intelligence for Vietnam - Oct. 20, 2025


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

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Inspection of jewelry stores in Ho Chi Minh City and Dong Nai

VN Express | Local Language | News | Oct. 20, 2025 | Regulation

On October 17, the State Bank branch for Region 2, covering Ho Chi Minh City and Dong Nai, issued a directive to local authorities to enhance inspections and oversight of gold trading activities. This includes coordination with provincial inspectorates, Departments of Industry and Trade, police, tax offices, and Departments of Science and Technology to monitor gold shops, establishments dealing in gold bars, and producers of gold and artisanal jewelry, especially in busy commercial areas or locations with signs of suspicious transactions or documentation.

The authorities are requested to focus on enforcing compliance with price listing regulations, verifying the provenance of gold, and overseeing foreign currency trading linked to gold transactions. The aim is to prevent speculative practices, market manipulation, and profiteering arising from price discrepancies. Since late August 2025, both global and domestic SJC gold prices have surged sharply, prompting strong buying demand despite limited supply.

The persistent rise in gold prices is attributed to global economic factors including trade disputes, US tariff policies, and the weakening of the US dollar. Additionally, expectations of continued price increases amid low interest rates and constrained gold supply have driven consumer buying behavior. The regional State Bank also acknowledged the possibility of some businesses or individuals exploiting market volatility to speculate or manipulate prices, contributing to abnormal price fluctuations.

Vietnam masters polymer banknote tech with homegrown innovation

Vietnam Net - E | English | News | Oct. 20, 2025 | UndeterminedTech Development/Adoption

Vietnam has successfully developed and mastered polymer banknote technology through homegrown innovation, following inspiration from the late Prime Minister Vo Van Kiet. Initially reliant on imported substrates, Vietnam issued its first polymer banknotes in 2003 to combat rampant counterfeiting and improve monetary security. This shift marked a critical turning point after decades of challenges, including economic volatility and dependence on foreign technical support.

By 2023, Vietnam overcame its reliance on imported polymer substrates with the breakthrough development of its own PolySecure technology by Q&T High-Tech Polymer Company. This achievement made Vietnam the third country globally capable of independently producing multilayer polymer banknote substrates. The new PolySecure - Shield technology embeds anti-counterfeiting features within the substrate layers, enhancing security, durability, and reducing production costs. This innovation significantly reduces supply chain risks and foreign dependency.

The move to domestically produced substrates has critical economic and security implications. It retains approximately $1 billion previously spent on imports within Vietnam’s economy, supports local job creation, and establishes a high-tech industrial value chain. Moreover, Vietnam’s strategic partnership with Crane Currency, a leading US banknote supplier, strengthens international collaboration and credibility. The nation now actively engages with other countries interested in its polymer currency technology, affirming its position in the global market.

Vietnam’s polymer banknote advancement exemplifies the principles of Resolution 57-NQ/TW, focusing on scientific innovation as a pathway to prosperity. Vietnamese enterprises like Q&T have demonstrated the ability to compete internationally by mastering core technologies, securing intellectual property rights, and effectively commercializing innovations. This milestone reflects Vietnam’s commitment to technological sovereignty and global competitiveness in high-security currency production.

Phá đường dây lừa đảo trực tuyến: Campuchia bàn giao, hồi hương 64 công dân Hàn Quốc

Disrupting an Online Fraud Network: Cambodia Hands Over and Repatriates 64 South Korean Citizens

Bao Dien Tu | Local Language | News | Oct. 20, 2025 | Corporate Corruption or Fraud

Cambodian authorities have handed over and repatriated 64 South Korean citizens suspected of involvement in online fraud networks. This action is part of a legal process overseen by Cambodia’s Secretariat of the Special Committee for the Prevention and Suppression of High-Tech Fraud Crimes. Over the past four months, Cambodian law enforcement has dismantled 92 fraud sites across 18 provinces, arrested approximately 3,455 suspects of 20 nationalities, prosecuted 10 major cases, indicted 75 ringleaders, and repatriated 2,825 foreign nationals. Authorities have also rescued victims of human trafficking and dismantled related criminal networks.

The repatriation followed the death of a South Korean university student found near a tourist site in southern Cambodia in August, believed to be linked to these fraud networks. This serious incident led to intensified government action. A South Korean emergency response team led by Vice Foreign Minister Kim Jina arrived in Phnom Penh on October 16 to cooperate with Cambodian officials including Prime Minister Hun Manet to address online fraud.

In July, Cambodian Prime Minister Hun Manet initiated a large-scale crackdown on online fraud due to its regional and global threats. Concurrently, South Korean President Lee Jae Myung ordered emergency measures on October 17 to remove fraudulent job advertisements targeting citizens with offers of easy, high-paying work in Southeast Asia. South Korea’s media and law enforcement agencies are reviewing and deleting such online posts, with tech companies forming an advisory body for self-regulation to detect suspicious advertisements.

On October 18, South Korean police arrested a recruiter involved in luring individuals abroad with false promises of lucrative jobs, linked to the case of the deceased student in Cambodia. The suspect, along with an accomplice, allegedly facilitated illegal financial transactions related to the fraud operations. The student’s official cause of death was cardiac arrest due to torture, highlighting the violent conditions victims face in Cambodia’s online fraud rings. The South Korean government has responded by dispatching a task force to Cambodia to reduce crimes targeting its citizens.

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