Vietnam

Intelligence for Better Decision Making

Diverging Fortunes Reshape Vietnam’s Real Estate Sector in 2025
Nov. 13, 2025 | Firms

Vietnam’s real estate sector in the first three quarters of 2025 reveals a stark divide between heavily indebted loss-makers and profit-driven developers.

**As financial results emerged, DRH Holdings JSC extended its loss streak to ten quarters, posting a net loss of nearly VND26 billion in Q3 and accumulating roughly VND157 billion in losses over nine months.**
Novaland (NVL) reported its fourth straight quarterly loss—VND878 billion in Q3—despite generating VND5.4 trillion in net revenue, and its outstanding debt climbed to VND64.3 trillion, surpassing 25 percent of its assets. Vinahud JSC (VHD) saw revenue plunge by more than 85 percent, driving a nine-month loss of nearly VND80 billion.

**Regulatory scrutiny has deepened pressures on some developers.**
The State Securities Commission fined Sonadezi Chau Duc JSC (SZC) VND507.5 million for failing to disclose mandatory information and misusing VND67.4 billion from its 2024 share issuance to finance projects and repay loans without shareholder approval. Authorities instructed SZC to secure shareholder consent at its next general meeting before reallocating capital.

**In contrast, Vinhomes JSC (VHM) posted a consolidated after-tax profit of more than VND15.3 trillion in the latest quarter.**
Contracted sales nearly doubled year-on-year to over VND162 trillion in the first nine months, and unrecognized contracted sales reached a record VND224 trillion, driven by the Vinhomes Green Paradise project. Phat Dat Corporation (PDR) also recorded rising revenue and net profit in Q3, with property transfers contributing net gains equal to 29 percent of its full-year target over nine months.

**Quoc Cuong Gia Lai JSC (QCG) posted a modest profit in Q3 while reducing debt by repaying VND900 billion on a residential project, although its balance sheet shows increased personal loans extended by executives’ relatives.**
Thuduc House JSC (TDH) delivered its highest quarterly net profit in nearly four years—VND84 billion—largely from other income after winning a tax lawsuit.

**These results mark a divided industry landscape, where some companies struggle under heavy debt loads, sustained losses, and regulatory penalties, while others drive profitability through strong sales, legal victories, and high-margin projects.**
Vietnam’s Shift to Premium Branded Rice Exports Gains Global Recognition
Nov. 13, 2025 | Firms

Vietnam’s rice sector has transformed from mass bulk exports into a premium, branded market that garners international acclaim and higher returns.

**This transformation began with the ST25 rice variety, which won “World’s Best Rice” titles in 2019, 2023 and 2025 at the Global Rice Trade Conference in Phnom Penh alongside Cambodia’s Phka Romdoul rice.**
International acclaim for ST25—renowned for its long, translucent kernels, pandan aroma and flavor retention when cooled—catapulted Vietnam from low-cost bulk shipments to premium, branded exports.

**The repeated success of ST25 demonstrated the variety’s superior grain quality and elevated Vietnam’s status in the premium rice market.**
Between 2019 and 2024, Vietnam boosted its premium rice export share from 15–18% to over 35%, and fragrant and specialty rice shipments more than doubled, surpassing 3 million tons.

**Average export prices climbed from roughly USD 435 per ton in 2019 to over USD 640 per ton in 2024, a 15-year high, pushing total rice export turnover to a record USD 4.78 billion.**
Premium varieties like ST25 now fetch between USD 700 and 1,000 per ton, allowing Vietnam to compete directly with established exporters such as Thailand in discerning markets.

**To support this premiumization, the government introduced the 2023 Strategy for Developing the Vietnam Rice Brand to 2030.**
This strategy protects the ST25 trademark internationally, builds a cohesive national “Vietnam Rice” brand and promotes high-quality production practices across the value chain, from cultivation and processing to branding and market distribution.

**In response to market demands and regulatory standards, farmers and enterprises have adopted quality assurance systems such as VietGAP and GlobalGAP, along with emission-reduction production models.**
Major agricultural companies have launched dedicated ST25 and ST24 product lines tailored to stringent export destinations, including the United States, European Union, Japan, South Korea, the Middle East and Singapore, and now feature branded rice in international retail outlets instead of anonymous bulk packaging.

**The Ministry of Agriculture and Environment is expanding high-quality cultivation areas for ST24 and ST25 using linked-chain production models that emphasize environmental sustainability, traceability and emission reduction, aiming to establish an integrated, high-end rice value chain that ensures consistent product quality from the paddy field to consumers.**

Monitored Intelligence for Vietnam - Nov. 13, 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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Tăng tốc chuyển đổi Internet Việt Nam sang IPv6 only

Accelerating Vietnam's Internet Transition to IPv6 Only

Bao Dien Tu | Local Language | News | Nov. 13, 2025 | UndeterminedTech Development/Adoption

The Ministry of Science and Technology of Vietnam, through the Vietnam Internet Center (VNNIC), has launched the “VNNIC Public DNS64” platform to accelerate the transition to IPv6 Only for agencies, organizations, and enterprises. The program involves collaboration among various government units, telecommunications corporations, and domestic enterprises providing internet, data, and online content services.

The program aims for Vietnam to reach a 90-100% IPv6 usage rate by 2030, positioning the country among the top 20 globally in IPv6 adoption. All telecommunications companies, data centers, digital content providers, and state agencies are expected to fully transition to IPv6 only, delivering default and stable services on this platform.

The transition will occur in three phases: from 2026-2027, focused on planning, resource preparation, small-scale IPv6 testing, and developing IPv6-only systems for emerging technologies like IoT, 5G, 6G, and cloud computing; from 2027-2028, accelerating large-scale deployment across all networks and services to reach 80-90% IPv6 usage and significantly reduce IPv4 dependency; and from 2029-2030, completing the nationwide IPv6 only transition, ensuring the Vietnamese Internet operates entirely on IPv6 with enhanced connectivity, security, and performance.

Key tasks include upgrading fixed and mobile broadband infrastructure, expanding VNIX peering connections over IPv6, replacing non-IPv6-compatible terminal devices, and requiring data centers and cloud services to provide default IPv6 services. State agencies will also upgrade IT systems to support IPv6 only, with the goal of full IPv6 adoption by 2030. The program emphasizes developing shared platforms, standards, and new IPv6-only applications while engaging in international cooperation to align Vietnam’s digital infrastructure with global IPv6 development trends.

Bộ KH&ampCN sẽ xây dựng thêm 17 tiêu chuẩn mới về Halal

The Ministry of Science and Technology will develop 17 new Halal standards

Bao Dien Tu | Local Language | News | Nov. 13, 2025 | UndeterminedTech Development/Adoption

The Ministry of Science and Technology in Vietnam is set to develop 17 new Halal standards to strengthen the country’s Halal sector through 2030. Current efforts focus on building a unified and transparent state management system aligned with international norms, with three main pillars: completing the standards system, enhancing certification capacities, and improving state management effectiveness. To date, Vietnam has issued six national Halal standards, with the plan to add 17 more, including three general standards and 14 focused on Halal food, aiming to harmonize with international bodies like the OIC and SMIIC.

Vietnam has granted Halal certification registration to three organizations that have certified over 1,000 businesses, showing strong domestic demand. Nevertheless, challenges remain, especially in achieving international recognition due to varied certification systems and regulations like Malaysia’s requirement for Muslim-owned certification bodies, which limit Vietnamese participation.

To address these challenges, the Ministry is actively promoting international cooperation, signing agreements with Iran, Saudi Arabia, and the UAE, and working with global organizations such as GAC, SMIIC, and the Turkish Halal Authority. Additionally, the Ministry is drafting a Decree on quality management and development policies for Halal products and services, focusing on unifying quality control, supporting industry development, trade promotion, and clarifying state agency roles. The prompt issuance of this Decree, combined with ongoing international collaboration, aims to remove barriers and expand Vietnam’s access to the global Halal market.

Luật Đầu tư (sửa đổi) cần bảo đảm đồng bộ, khả thi khi áp dụng

The amended Investment Law must ensure consistency and feasibility in application

Bao Dien Tu | Local Language | News | Nov. 13, 2025 | Regulation

Member of the National Assembly Đỗ Thị Việt Hà highlighted the need for consistency, clarity, and feasibility in the amended Investment Law, emphasizing several areas for revision. She recommended clarifying new terms such as “free trade commercial zone,” “concentrated digital technology zone,” and “high-tech zone” to prevent misinterpretation and ensure alignment within the legal framework. On investment incentives, she suggested specifying the phrase “investment projects that use many workers” with quantitative criteria and linking incentives to priority sectors to encourage skilled labor use rather than just worker quantity.

Regarding foreign investment, Hà proposed clearer regulations on capital contribution and share purchase to manage sectors critical to national defense and security more effectively. She also pointed out overlapping approval authorities for industrial parks and specialized zones, calling for clear specification of the responsible agency to reduce delays. While supporting the current maximum 70-year operation period for projects in disadvantaged areas, Hà urged revisiting this for large capital and slow-return projects. She identified inconsistencies in project termination regulations and urged the government to clearly define the notification process to avoid administrative confusion. For transitional provisions, Hà recommended that deposit obligations apply only to remaining unimplemented capital amounts to ease administrative burdens on ongoing projects.

Delegate Bùi Thị Quỳnh Thơ noted that the draft law reduces investment procedures and promotes decentralization. She supported allowing the Government to define large projects and those using many workers to enable regulatory flexibility. However, Thơ expressed concern about the draft's vague mention of “other forms of investment incentives” decided by the Prime Minister and called for clearer specifications of these incentives and their beneficiaries. She advocated retaining explicit legal provisions on investment support forms from the current law to provide a clear basis for implementation and guidance.

Both delegates stressed the importance of clear, coherent, and practical provisions to foster transparent, competitive, and effective investment and business environments in Vietnam.

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