Minister of Industry and Trade Nguyen Hong Dien delivers a report to the National Assembly on a draft Law on E-commerce. Photo: National Assembly

In a report to the National Assembly on November 3, Minister of Industry and Trade Nguyen Hong Dien said that the move seeks to institutionalise the Party’s new orientations on e-commerce and the digital economy, align with Vietnam’s international commitments, and address existing legal shortcomings. It is also designed to foster rapid and sustainable e-commerce growth, safeguard domestic production and consumer rights, and contribute positively to national socioeconomic development in the digital era.

According to the Ministry of Industry and Trade’s report, e-commerce in Vietnam has been expanding strongly, accounting for around 10 per cent of total retail and consumer service revenue in 2024. However, the sector still lacks a dedicated legal framework. Existing regulations have revealed various limitations, particularly in managing sellers, collecting taxes, combating counterfeit goods, and protecting personal data.

The draft law comprises seven chapters and 48 articles, introducing new provisions that mandate the identification of domestic sellers through VNeID and foreign sellers via legal documentation. It also defines responsibilities related to information transparency, transaction traceability, violation handling, and consumer protection.

It also expands the responsibilities of social networks that engage in e-commerce and integrated digital service platforms, along with provisions to prevent abuse of market dominance and ensure fair competition.

Under the proposal, domestic sellers will be required to undergo identity verification via VNeID, while foreign sellers must provide valid legal documentation. Livestream sellers and affiliate marketers will be subject to specific requirements on identification, information transparency, and consumer protection.

For foreign e-commerce platforms operating in Vietnam, the draft mandates the establishment of, or authorisation for, a legally competent entity within the country to handle tax obligations, dispute resolution, and consumer protection issues.

Reviewing the draft, Phan Van Mai, Chairman of the National Assembly’s Economic and Financial Committee, said the necessity of developing a stronger legal framework for e-commerce.

He recommended that the government further clarify the classification of e-commerce as a conditional business line and make corresponding revisions to the amended Law on Investment. The committee also called for a clearer distinction between pre-check and post-check conditions to ensure effective management.

Regarding platform operators, the committee proposed refining responsibilities to ensure they are reasonable, feasible, and tailored to the nature of each platform and its level of involvement in online contract transactions.

For social networks conducting e-commerce activities, the committee suggested defining their scope of responsibility based on specific functions such as online ordering, livestream sales tied to order placement, or payment and logistics support, to create proportionate regulatory obligations.

It also urged clearer delineation between livestream and affiliate marketing activities regulated under the draft law and those covered by other legislation, including the Law on Cyber Information Security, the Law on Cybersecurity, the Law on Advertising, and the Law on Consumer Rights Protection.

Finally, for e-commerce support service providers, the committee recommended clearer rules on their responsibilities and operating conditions, ensuring consistency with laws governing electronic transactions, postal services, payment systems, and banking, while maintaining practical and enforceable obligations.

Deputy Minister of Finance Nguyen Duc Chi at the session of the National Assembly Standing Committee

Deputy Minister of Finance Nguyen Duc Chi, speaking on behalf of the government at the National Assembly Standing Committee session on October 15, said Vietnam aims to achieve GDP growth of 10 per cent and per-person income of $5,400–5,500 by the end of 2026. The goals are part of the government’s draft socioeconomic development plan for 2025–2026, which focuses on boosting productivity, investment efficiency, and sustainable growth. The report noted that the government is also aiming for inflation to stay around 4.5 per cent.

State budget revenue for next year is projected to rise by 10 per cent, while public investment will be trimmed by 5 per cent and regular expenditure by 10 per cent. The adjustments aim to channel resources towards key projects such as the Lao Cai–Hanoi–Haiphong railway and various social welfare programmes.

“The economic structure, including the credit system, bad debt resolution, development of the digital and green economy, semiconductor technology, and AI, has been identified by the government as key development priorities for next year,” Said Deputy Minister Chi.

“Vietnam will take a more selective approach to attracting overseas investment,” he added, before explaining that the country is developing international financial centres in Ho Chi Minh City and Danang, as well as new-generation free trade zones in key cities like Danang and Haiphong, to mobilise resources and draw high-quality investors.

This year, the government expects to meet or exceed all 15 socioeconomic targets. Macroeconomic stability has been maintained, growth remains high, inflation is under control, major economic balances are ensured, and public debt and fiscal deficit remain within safe limits.

GDP growth in the first nine months of this year reached 7.85 per cent on-year, and is expected to be around 8 per cent for the full year, among the highest globally. 32 provinces recorded regional GDP growth over 8 per cent, with 13 exceeding 10 per cent. The GDP size is about $510 billion, ranking 32nd in the world and fourth in ASEAN. GDP per person surpasses $5,000, placing Vietnam in the upper-middle-income category.

NA Chairman Phan Van Mai noted that many socioeconomic indicators surpassed forecasts, providing a strong foundation for macroeconomic stability and sustainable growth. He cautioned, however, that economic restructuring still faces challenges and urged the government to carefully assess the drivers of growth.

“Key growth drivers such as exports, consumption, and investment are still not strong enough. Exports remain unstable, show signs of slowing down, and are heavily reliant on foreign investment and external supply chains. Moreover, rising reciprocal tax policies, technical barriers, and green standards from major markets like the US and EU are significantly impacting this sector,” he said.

In addition, while public investment for 2025 is substantial, disbursement remains sluggish, reaching only about half of the planned target by the end of September. Domestic consumption has shown limited growth, with retail sales and consumer service revenue averaging 7.5 per cent annually from 2021 to 2025, well below previous periods.

“We must clearly acknowledge that the economy still relies on processing, imports, and a growth model based primarily on capital and labour,” said Mai, highlighting the risk of Vietnam falling into the middle-income trap.

On gold, bond, and real estate credit markets, the Economic and Financial Committee recommended that the government take risk prevention measures to safeguard macroeconomic stability.

“The government must also adhere to its policy principles, especially as room for manoeuvre in monetary policy has narrowed. Given the current capital market structure and interest rates, further easing of monetary policy poses a challenge,” Mai said.

For the 2026 plan, he advised the administration to act proactively and flexibly to maintain macro stability, strengthen resilience and capacity, and leverage opportunities to restructure supply chains and enhance national competitiveness.

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Rice exporters look to Africa for growth opportunities. Photo: Duc Thanh

Vietnam’s rice industry is facing one of its toughest challenges in years as two major markets, the Philippines and Indonesia, have sharply cut imports, forcing exporters to scramble for alternative buyers. Many firms are now pivoting to Africa, where demand for Vietnamese rice is unexpectedly rising.

For years, the Philippines and Indonesia accounted for nearly half of Vietnam’s rice exports, serving as vital pillars of the trade. That stability was upended in September when the Philippines, Vietnam’s largest buyer, suddenly suspended rice imports for 60 days and signalled the pause could extend through the year. Customs data shows Vietnamese rice shipments to the Philippines in September plummeted by 93.3 per cent in volume and 92.6 per cent in value compared with August.

Indonesia, the second-largest importer, simultaneously tightened its import quotas, causing widespread contract delays and cancellations. As a result, Vietnam’s overall rice exports in September dropped to just 466,800 tonnes, worth $232.38 million, down nearly 47 per cent on-month. Around 500,000 tonnes of rice remains stuck at ports, leaving exporters in limbo.

Nguyen Van Don, director of Viet Hung Co., described the fallout. “With the Philippines suspending imports, domestic prices have fallen sharply. Contracts were signed, but partners have postponed, freezing capital while storage and transport costs soar,” he said. The cash crunch has worsened as VAT refunds remain delayed, further squeezing liquidity.

The sharp decline has pushed Vietnam’s export prices downward, prompting the Vietnam Food Association (VFA) to urge firms to avoid panic selling. Instead, companies have been encouraged to diversify their markets and strengthen resilience.

One key direction is Africa. Despite higher shipping costs and more complex payment terms, countries such as Ghana, Ivory Coast, Nigeria, and Senegal are significantly increasing their Vietnamese rice imports. According to the VFA, Ghana imported 662,000 tonnes in the first eight months of 2025, worth $373 million, up 95 per cent in volume from the same period last year. Ivory Coast imported 754,000 tonnes, worth $349 million, up 156 per cent in volume.

“Unlike Southeast Asia, African markets present fewer policy risks, although they require government-to-government contracts, stronger capital, and logistics capabilities,” said Phan Van Co, marketing director of Vrice. “This is not for short-term players but for companies with long-term strategies.”

In parallel, exporters are repositioning toward high-value segments such as fragrant, speciality, and organic rice. Varieties are finding stable markets in Japan, the EU, and South Korea,” Co added. “Once premium products enter international supermarket chains, price pressures ease considerably.”

VFA chairman Do Ha Nam stressed that the crisis underscores the risks of overreliance on a few markets. While there is no official extension yet of the Philippines’ ban, he warned exporters to take the episode as a clear signal for change. He urged the government to accelerate VAT refunds, ease credit access, and strengthen trade promotions in Africa and the Middle East.

“This is a true stress test for Vietnam’s rice sector,” Nam said. “We cannot rely on luck or the policies of others. Now is the time to build strength from within, with quality, supply chains, and national branding.”

Within the framework of an international dialogue co-hosted by the State Audit Office of Vietnam (SAV) and the Association of Chartered Certified Accountants (ACCA) on October 13 in Hanoi, a panel discussion on smart auditing brought together leading experts from Deloitte Vietnam, Standard Chartered Bank, the SAV, and ACCA.

The session examined the opportunities, challenges, and risk management frameworks related to AI adoption, with the shared goal of fostering a transparent and sustainable financial and auditing ecosystem.

The panel discussion featured leading experts from the accounting and auditing fields. Photo: ACCA Vietnam

During the session, Phan Ngoc Anh, a partner of audit services at Deloitte Vietnam, highlighted that the adoption of AI in auditing requires a dual focus, leveraging technological strength while safeguarding data security and transparency.

“This is a major challenge for any organisation implementing AI. The complexity lies not only in technology itself but also in governance, how to ensure AI enhances efficiency while maintaining user trust,” Anh noted.

He shared that Deloitte has developed a trusted AI framework including seven key principles to ensure that AI is deployed transparently, safely, and responsibly. Among these, system security and data protection are at the core, complemented by transparency, fairness, explainability, verifiability, privacy, and accountability.

“AI’s data-processing capacity is exceptional, but it remains a tool. Ultimately, humans, auditors, experts, and managers, hold responsibility for ensuring that AI operates in line with ethical and professional standards,” he said.

He also added that businesses must establish dual control mechanisms to balance economic efficiency with transparency and social responsibility.

The event gathered strong interest and participation from accounting and auditing communities worldwide. Photo: ACCA Vietnam

Echoing this view, Nguyen Ngoc Lan Anh, CTO of Standard Chartered Bank, underlined that in the financial and banking sectors, regulatory compliance and data protection remain paramount.

“With operations in over 60 markets, Standard Chartered must adhere to multiple AI regulatory frameworks, from the UK, EU, and US to Singapore and Vietnam. This is undoubtedly a challenge, but it also enables us to build a unified set of principles based on our core values: safety, transparency, fairness, and risk control,” she said.

According to Lan Anh, AI risk management should not be treated as an afterthought, but must be embedded from the design stage. “If AI is a powerful engine, then risk control mechanisms are the brakes that help businesses stay on course for sustainable growth,” she explained.

Meanwhile, Dr Pham Huy Thong, deputy director general of the IT department at the SAV, identified three major challenges in applying AI to auditing: fragmented infrastructure, limited data security and sharing among agencies, and a shortage of high-quality human resources.

“To address these challenges, the State Audit Office has proposed a project on applying big data and AI in auditing for the 2026 phase, focusing on strengthening server infrastructure, cybersecurity, and data connectivity to support AI deployment,” Thong said.

He added that in response to the global AI boom since 2024, the SAV has proactively updated its strategy to accelerate the adoption of AI in professional activities. In April, the IT department submitted its first pilot product, marking a milestone in the digital transformation of the national audit system.

“We are also partnering with international organisations such as ACCA to exchange knowledge, provide training, and empower auditors to master new technologies. The ultimate goal is to make AI a powerful enabler, enhancing the capability and efficiency of public sector auditing,” Thong shared.

Experts at the session agreed that AI implementation is not only a technical matter but also a question of governance, ethics, and accountability. Public-private collaboration, such as the partnership between the SAV and ACCA, is seen as essential to strengthen auditing capacity for major projects, optimise resources, and ensure transparency in public investment.

CAAV director Uong Viet Dung

On October 17, the Civil Aviation Authority of Vietnam (CAAV) and Boeing organised a seminar on sustainability practices in human resources for Vietnam’s aviation industry. The event gathered representatives from aviation authorities, enterprises, and airlines nationwide to discuss strategies for fostering an inclusive and resilient workforce for the sector.

“Over the past three decades, Vietnam’s aviation industry has demonstrated the intelligence, resilience, and determination of the Vietnamese people, including Vietnamese women,” said CAAV director Uong Viet Dung. “This has supported Vietnam’s aviation industry to overcome challenges from the inception until today.”

“Vietnam’s aviation industry is increasingly integrating into international markets and affirming its position on the global map. Women have made significant contributions to the success, facilitating the aviation industry to remain steadfast and ready to fly even higher,” he added.

Key positions in the aviation industry once dominated by men are now seeing growing female participation across all roles. Women are increasingly serving as pilots, captains, air traffic controllers, flight attendants, and aircraft maintenance engineers, among other positions.

Dung also expressed gratitude to female leaders in the aviation industry, “In the aviation industry, it is impossible not to mention Vietjet chairwoman Nguyen Thi Phuong Thao – a small yet remarkably resilient woman with bold vision, strategic thinking, aspirations, and a burning passion for developing Vietnam’s civil aviation industry.”

The seminar underscores the role of Vietnamese women, which is an important factor for the development of Vietnam’s aviation industry in the new era.

Tran Kim Anh, head of Capital Resources, spoke about the best practices applied at Vietjet to stimulate growth and career advancement opportunities for women and foster an equitable workplace.

“Vietjet is among the few airlines worldwide where women hold many top positions, including chairwoman of the Board of Directors, vice chairwoman of the Board of Directors, board member, and deputy CFO, as well as many department leaders. Vietjet chairwoman Nguyen Thi Phuong Thao has promoted the gender equality initiatives that empower women to thrive both professionally and personally.”

Today, female employees make up nearly 40 per cent of Vietjet’s total workforce, with 30 per cent of leadership roles held by women. From pilots, flight attendants, engineers, flight operations staff to financial, commercial, and communications managers – Vietjet women are contributing to creating a new face for the modern, dynamic, and humane Vietnamese aviation industry.

Thao’s journey stands as a living testament to her aspiration to serve the nation with knowledge, responsibility, and compassion, while inspiring a new generation of entrepreneurs to build a prosperous and happy country. More importantly, it is a clear testament that gender barriers cannot hinder the development and success of women in the aviation industry or more broadly in the economy and society.

According to Anh, “Women’s success comes from intelligence, courage, perseverance, compassion, a spirit of sharing, and the ability to inspire through kindness. They naturally balance reason with emotion and responsibility with dedication – qualities that foster a humane, sustainable, and inspiring workplace.”

“At Vietjet, we firmly believe that empowering women means empowering businesses – it is how we nurture a progressive corporate culture where economic growth always goes hand in hand with human values,” Anh added.

More female pilots, engineers, and young leaders are stepping forward to prove their capabilities in Vietnam’s aviation industry. Experts agree that breaking down barriers requires fostering inspiration, sharing experiences, expanding learning opportunities, and encouraging the next generation to think boldly and act decisively. By doing so, women can become the strong leaders and managers who help drive the country’s aviation industry to new heights.

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