Constructive dialogue at the Ministry of Construction on SwedenVietnam cooperation in sustainable building and smart cities. Photo: The Embassy of Sweden

The visiting delegation, comprising leading Swedish companies and experts, held meetings with key Vietnamese ministries, government agencies, technical stakeholders, and private investors. Discussions focused on opportunities in railway development, including the North–South high-speed line, the green transition of seaports, and the construction of new ports.

State Secretary Modig also engaged with representatives from over 70 Swedish companies active in Vietnam, reflecting Sweden’s growing role in supporting Vietnam’s modernisation and green transition.

“Vietnam is a dynamic and forward-looking partner for Sweden in this region,” said Johan Ndisi, Ambassador of Sweden to Vietnam. “From smart infrastructure to digital innovation, we see exciting opportunities to co-create solutions that are green, competitive, and inclusive. Sweden and Vietnam are well-positioned to shape a future that is sustainable, resilient, and knowledge-driven.”

Photo: The Embassy of Sweden

As part of the visit, in Hanoi on November 3, State Secretary Modig presented Sweden’s innovation ecosystem at the Erasmus+ and Horizon Europe Day, organised by the EU-delegation in Vietnam with support from the Ministry for Education and the Ministry for Science and Innovation.

“Sweden is one of the world’s leading countries in research and innovation, consistently ranking near the top of international indices – this year, it placed second in the Global Innovation Index,” said Modig. “A key driver of our innovation success is a collaborative ecosystem that brings together academia, industry, and government, enabling research to be effectively translated into practical solutions and commercial ventures.”

Sweden was recently came second place out of 130 economies in World Intellectual Propoerty Organization’s yearly Global Innovation Index. To further strengthen academic and research collaboration, study fairs are being held in Hanoi and Ho Chi Minh City to attract Vietnamese talent to Europe, with nine Swedish universities participating in various events.

Sweden and Vietnam share a long-standing tradition of academic exchange, actively engaging in student mobility and joint research. Karolinska Institutet, for example, has signed four MoUs with Vietnamese institutions and has supported 65 Vietnamese PhD graduates.

State Secretary Sara Modig delivered remarks at the Erasmus+ and Horizon Europe Day 2025 in Hanoi, highlighting Sweden’s commitment to education, research and innovation. Photo: The Embassy of Sweden

This autumn, 300 Vietnamese students were admitted to Swedish universities. Eleven received Swedish Institute Scholarships for Global Professionals, eight were awarded the Pioneering Women in STEM Scholarship, and others joined sponsored programmes focused on climate tech and entrepreneurship.

The agenda also featured a visit to Haiphong on November 3 when State Secretary Modig met with Haiphong People’s Committee, Swedish companies operating in the area and visit the VinFast electric vehicle factory.

Several Swedish companies are active contributors to VinFast’s supply chain. ABB has delivered over 1,000 industrial robots, Atlas Copco has supplied compressor solutions, and SKF provides bearings. These collaborations demonstrate the high level of trust and technical expertise that Swedish firms bring to Vietnam’s fast-growing manufacturing sector.

Sweden’s Bulten to establish micro screws joint venture in Vietnam Sweden-based Bulten announced on December 18 that it has signed a letter of intent with ZJK Vietnam Precision Components Co., Ltd, a part of the Chinese fastener company ZJK Precision Parts (ZJK), to establish operations in Vietnam through a joint venture.

Syre Group eyes $1 billion investment in Binh Dinh textiles facility Syre Group, a subsidiary of H&M, plans to build a high-tech fabric production complex in Nhon Hoi Economic Zone, Binh Dinh province with a capacity of 250,000 tonnes per year and a total investment of up to $1 billion.

Sweden’s Vilja makes its foray into Vietnam to support digital banking Nordic cloud-native core banking solutions provider Vilja has announced its expansion into Vietnam following the establishment of its ASEAN headquarters and development centre in Kuala Lumpur, Malaysia.

Vietnam–Sweden economic ties more robust and diversified Prime Minister Pham Minh Chinh’s official visit to Sweden marks a significant milestone in the enduring diplomatic relationship between Vietnam and Sweden, which began in 1969 when Sweden became the first Western country to establish diplomatic ties with Vietnam.

The group received the Inspirational Brand award at the 2025 Asia-Pacific Enterprise Awards (APEAs), held on October 9. The annual event honours outstanding achievements across four categories: Outstanding Asian Entrepreneurs, Outstanding Asian Enterprises, Fast Enterprise, and Inspirational Brand.

Sun Group was recognised for its consistent efforts to to enhance the tourism destinations of Vietnam – a vision reflected in its transformative projects, innovation-led growth, and commitment to cultural and social development.

Its contributions, particularly in tourism and hospitality, have been credited with revitalising destinations, creating jobs, and helping position Vietnam as one of Asia’s most dynamic travel markets.

The APEA judging panel praised Sun Group for its strong national and social commitment, job creation, and contributions to local economies and cultural preservation. They commended the group’s bold, world-class projects that enhance Vietnam’s global image and called it a model of visionary, innovative Vietnamese enterprise.

“For the past 18 years, our greatest pride has been transforming destinations, elevating Vietnam’s tourism, and improving local livelihoods while spreading positive values through our work,” said Nguyen Lam Nhi Thuy, deputy CEO of Sun Group Southern Region. “This award inspires us to keep innovating, beautifying Vietnam, and connecting the country with the world.”

Founded in Danang in 2007, Sun Group has expanded into one of Vietnam’s major private corporations, operating across tourism and entertainment, hospitality real estate, and infrastructure, and more recently moving into finance, aviation, healthcare, and education.

The company has played a role in developing several emerging destinations into notable tourism centres in Vietnam. Over the past 18 years, its projects have contributed to the transformation of locations such as Danang, Sa Pa, Phu Quoc, Quang Ninh, Tay Ninh, Ha Nam, Thanh Hoa, and Haiphong.

Landmarks including the Golden Bridge in Danang, the InterContinental Danang Sun Peninsula Resort, and the Kiss Bridge in Phu Quoc have helped attract visitors and raise the international profile of these destinations.

Artist’s impression of the Hanoi Grand Opera House, currently under construction

Sun Group is advancing several flagship projects this year that are expected to spur economic development and further elevate Vietnam’s global profile.

These include the expansion of Phu Quoc International Airport, the APEC Convention Centre in Phu Quoc, the Danang Downtown integrated entertainment and commercial complex, the Ba Na – Suoi Mo Ecotourism and Urban Complex, and the Hanoi Grand Opera House – a landmark poised to become a new cultural icon of the capital.

Founded in 2007, the Asia-Pacific Enterprise Awards recognise noteworthy entrepreneurs and organisations across the region for their excellence in business and contributions to sustainable development and community impact.

Emirates and Sun Group team up to promote tourism in Vietnam Emirates and Sun Group signed a MoU on April 30 to strengthen inbound tourism to Vietnam and drive passenger traffic.

Sun PhuQuoc Airways cleared for commercial flights Sun PhuQuoc Airways, backed by Sun Group, has secured regulatory approval to operate commercial flights, paving the way for the airline’s entry into Vietnam’s aviation market.

Sun Group launches three urban area projects worth $1.44 billion in Quang Tri Quang Tri People’s Committee, in collaboration with Sun Group, held a groundbreaking ceremony for three mixed-use urban projects on October 2 with a total investment of over VND38 trillion ($1.44 billion).

On October 26, Vietnam and the United States agreed to issue a Joint Statement on the Framework for a Reciprocal, Fair, and Balanced Trade Agreement. The statement contained many encouraging details that have raised new expectations for Vietnam’s major export sectors.

Seafood, garments and textiles, and woodwork are among key export items to US market

Both sides will continue discussions and implement steps towards completing the agreement, based on principles of openness, constructiveness, equality, ensuring mutual benefit and consideration of each side’s development level.

Speaking to VIR, Nguyen The Minh, head of Research at Yuanta Vietnam Securities, noted that during the suspension of reciprocal tariffs, the US signalled its intent to impose higher duties on technology products it can manufacture domestically.

In contrast, consumer goods that the US relies heavily on imports for may see tariff adjustments.

“Key sectors such as textiles and garments, processed foods, seafood, and fine wood products are those where the US remains import-dependent,” Minh said. “If high tariffs were imposed, American consumers would bear the brunt through higher prices, adding to inflationary pressures.”

He added that higher tariffs on a wide range of products could slow US economic growth, reduce investment, and raise inflation through cost-push effects. In that context, the Federal Reserve may adopt a slower pace of interest rate adjustments.

“The US needs to reassess its tariff policy with greater differentiation across product groups. For items that depend on imports from Vietnam, such as textiles, seafood, and furniture, reducing tariffs to zero per cent is entirely feasible. In that scenario, US consumers would be the first to benefit,” Minh noted.

In the garments and textiles sector, analysts believe Vietnam holds a strong competitive edge, as it is the world’s second-largest textile apparel exporter and the third-largest supplier to the US market. As the US does not produce textiles domestically and many major global brands have manufacturing plants in Vietnam, any progress in tariff negotiations could lead to further import duty reductions, possibly even to zero per cent. Agricultural and seafood exports are also well-positioned to benefit from potential tariff cuts, enhancing their competitiveness against regional peers.

According to Saigon-Hanoi Securities JSC (SHS), concerns that tariff policies under the Trump administration might hurt Vietnam’s economy are gradually fading. Even when facing reciprocal tariffs of up to 20 per cent, local production and investment activities have continued to show strong growth momentum. A more favourable tariff regime is expected to open new growth opportunities for Vietnamese export businesses and related stocks.

Export-oriented businesses have recorded strong performance since the outset of the year, with robust nine-month results. In the first nine months of 2025, garment maker TNG Investment and Trading JSC reported revenue of $228.4 million, up 14.6 per cent on-year, and net profit of $11.2 million, up 16.6 per cent on-year.

For 2025, TNG targets $324 million in revenue and $13.6 million in net profit. With the current results, the company has achieved 70.5 per cent of its full-year revenue goal and 82.3 per cent of its full-year profit target. TNG representatives said the firm remains on track with a positive business outlook.

Another strong performer is Garment 10 Corporation. In Q3 of 2025, the company posted a net profit of $1.94 million, up 52 per cent on-year, setting a record quarterly profit since 2023. For the first nine months, its revenue reached $133.6 million, up 10 per cent, and net profit was $3.12 million, up 59 per cent on-year.

In the seafood sector, several big players like Vinh Hoan, Sao Ta Foods, and Nam Viet all reported positive results.

Accordingly, Vinh Hoan recorded consolidated Q3 net profit of $18.2 million, up 35 per cent, and a nine-month total of $48.2 million, up 38.6 per cent on-year.

Sao Ta Foods posted Q3 profit of $4.47 million, up 18 per cent and a nine-month total of $10.05 million, up 6.7 per cent on-year. Nam Viet stood out with Q3 profit of $11.32 million, surging 917 per cent on-year, and nine-month profit of nearly $29.9 million, 17 times higher than one year ago. .

In the wood export segment, Phu Tai JSC has already met its full-year 2025 profit plan after just nine months, with pre-tax profit reaching $1.4 million. For Q4, the company targets an additional $200,000 in profit, which, if achieved, would exceed the annual target by 14 per cent.

Nguyen The Minh believes the likelihood of a favourable tariff outcome is high as both sides enter the framework negotiation phase.

“A well-designed policy could open new growth opportunities for Vietnamese exporters and related stocks, with some goods potentially seeing tariffs cut below 20 per cent – or even to zero,” Minh said. “Investors should focus on companies with solid fundamentals, leading positions in strategic sectors, strong growth potential, and reasonable valuations.”

Businesses shift to local supply chains and market diversification amid new US tariffs Vietnamese businesses are adapting to new US tariffs by investing in local supply chains, exploring new export markets, and innovating to maintain competitiveness in a challenging global landscape.

Diversification lends to turnover advances Diversifying export markets is increasingly viewed as a strategic pathway for Vietnam to achieve its target of $70 billion in agricultural, forestry, and fishery export turnover.

Garment and textile firms eye exports and domestic market for growth Amid global uncertainties, garment and textile firms are exploring new growth avenues – expanding export markets while also turning their focus inward to reclaim the domestic market through branding and green supply chains.

Amid the sweltering heat and the crackling sound of sizzling oil, being a chef has never been an easy job for anyone without true passion.

Yet, that very kitchen is where the dreams and determination of young chef Quoc Hung, a 32-year-old sous chef at a 3-star hotel in Ho Chi Minh City, burn brighter than ever.

“Dreams are never easy. But every day, I choose to recharge with a bottle of Number 1, to keep my passion alive and never give up. Step by step, I get closer to it,” Hung said, his eyes gleaming behind a haze of rising steam.

Being a chef requires extreme focus and the ability to work under intense pressure

It’s 11am, the busiest hour of the day. Dozens of orders pour in at once. A single delayed move could throw off the rhythm of the entire service line.

“There are days I’m on my feet for 10 hours straight, slicing, stirring, seasoning. It’s exhausting, but I can’t afford to lose focus. One second of distraction, and the dish could be ruined,” Hung said.

Being a chef demands razor-sharp focus and immense pressure tolerance. When both body and mind reach their limits, a bottle of Number 1 becomes Hung’s go-to, giving him an instant energy boost.

“It’s like waking up my body and sharpening my mind. That’s how I push through the rest of the shift,” he said.

For many chefs, a bottle of Number 1 provides instant energy, mental alertness, and lasting endurance to handle the daily pressures of the kitchen

In a kitchen where temperatures soar past 40 degrees Celsius and the pace leaves no room for hesitation, every knife stroke and pinch of salt must be precise. Under such pressure, alertness and endurance become the essential factors that keep their passion burning.

“There are moments when I’m utterly drained,” Hung admitted, “but a bottle of Number 1 gives me the strength to keep going, to remember that I’m not just cooking for customers, but also for the dream ahead.”

In front lies the stove, behind: the dream

Hung is not alone. Many young chefs are writing their own stories of perseverance. Thuy Diem, a pastry chef, recalls staying in the kitchen until 2am just to perfect the pastries for the next morning’s event.

“There are nights when my body feels like collapsing, but with a bottle of Number 1, I feel recharged, refocused, and ready to stay optimistic,” she said.

Beyond the demanding hours, Diem carefully saves every bit she earns to help her parents with medical expenses. For her, each cake she bakes is a symbol of her resilience and unwavering passion for the craft.

For Hung, every working day is an opportunity to learn, from how the head chef manages the team, to ingredient selection, and restaurant operations – all valuable lessons for the future.

He may not know when his dream will come true, but he believes that every day in the kitchen, no matter how tough, takes him a step closer to becoming the best version of himself.

On these types of journeys, Number 1 symbolises the spirit of endurance – the courage to stay committed, to break through limits, and to keep moving forward.

Number 1 remains a trusted companion, fuelling young people to stay passionate and keep moving forward on their chosen paths

The journey of Number 1 Energy Drink and rapper Den inspires passion Number 1 Energy Drink has released a new television commercial featuring rapper Den and its limited-edition Number 1 bottle with the slogan “Fuel the energy, persist your passion”.

Hanoi High School Student Football Tournament kicks off The opening ceremony of the 24th Hanoi High School Student Football Tournament – ​​Capital Security Newspaper Cup 2025, Number 1 Active Cup kicked off on October 26.

Tan Hiep Phat – three decades of serving society Since its inception in 1994, beverage-maker Tan Hiep Phat has contributed to the prosperity of society and aspired to be the pride of Vietnam.

Since October, CHIN-SU and Nam Ngu products have been available at global retail giants Costco in the US and South Korea, and Woolworths in Australia. The move reflects Vietnam’s growing presence in the fast-moving consumer goods (FMCG) sector and the rising competitiveness of locally developed brands on the global stage.

Masan Consumer, a member of Masan Group, is among Vietnam’s leading FMCG companies. It operates a closed-loop production chain – from raw materials to finished products – that adheres to international standards for quality management and food safety. Central to its innovation capacity is the Consumer Innovation Centre (CIC), which focuses on research and development (R&D) driven by a deep understanding of consumer preferences and shopping behaviour.

MCH’s strategy is built on three pillars: premiumisation, out-of-home consumption, and R&D. Each year, CIC develops over 100 new initiatives, many of which have shaped modern consumer trends, such as Omachi Self-Heating Hotpot, Nam Ngu Ly Son chilli garlic fish sauce, and Wake-Up 247 energy drinks.

By combining strong R&D capabilities with advanced technology, MCH has shortened its product development cycle to under 12 months – about twice as fast as the FMCG industry average. Between 2018 and 2024, nearly 20 per cent of its revenue came from new products, highlighting the strength of its innovation-driven growth strategy.

Expanding into international retail chains further demonstrates MCH’s ability to compete globally, showcasing the growing capacity of Vietnam’s consumer goods sector in quality management, logistics, and compliance with global standards. This milestone also strengthens the position of Vietnamese products within the regional consumer value chain.

After restructuring its distribution network, MCH expects to return to positive growth in Q4, setting a strong foundation for recovery in 2026. The company’s new direct coverage initiative aims to optimise inventory and logistics to ensure products reach points of sale closest to consumers.

“Q3 revenue fell 5.9 per cent on-year and earnings before interest, taxes, depreciation, and amortisation were down 7.1 per cent, mainly due to short-term impacts from our new direct coverage model,” said Huynh Viet Thang, CFO of Masan Consumer. “The initiative, now rolled out in 34 provinces, has already started showing positive results since October.”

Centred on people, technology, and connectivity, direct coverage has streamlined operations by restructuring the sales force by region, automating the ordering system, and connecting sales representatives directly with points of sale. As a result, direct coverage has increased by 40 per cent to 345,000 points of sale, while the share of wholesale channels fell from 60 to 30 per cent. Labour productivity rose by 50 per cent, with costs remaining stable.

“Restructuring the distribution system is the right step for medium- and long-term growth,” said Danny Le, CEO of Masan Group. “We are moving towards modernising the entire consumer value chain in Vietnam.”

MCH is expected to return to growth in Q4. The company is also preparing for an initial public offering with advisory from international investment banks.

“The company is likely to list on the Ho Chi Minh City Stock Exchange by late 2025 or early 2026, supported by its solid financials and positive market sentiment,” a representative of Masan Group’s board of directors said. “A successful listing would pave the way for inclusion in the VN30-Index, broadening our investor base and reinforcing our position as a leading consumer goods company.”

Masan Group recorded its strongest quarterly profit since early 2022, supported by improved performance across WinCommerce, Masan MEATLife, and Masan High-Tech Materials. Building on this momentum, MCH is expected to enter a new growth phase from late 2025 to 2026 as it completes restructuring and advances plans for a public listing.

Focusing on distribution optimisation, R&D, and international expansion, MCH aims to strengthen its competitiveness in the evolving consumer goods market, positioning itself as a top Vietnamese brand built on quality, innovation, and operational efficiency.

The only consumer company named in top 10 listed firms by market cap Masan Consumer, the consumer goods arm of Masan Group, has seen its stock price soar more than 240 per centin the year to date.

Masan Consumer Holdings honoured with consecutive “Great Place To Work” certifications Masan Consumer Holdings received the prestigious “Great Place to Work” certification from Great Place to Work for the second year in a row in November.

Masan Consumer’s S&P Global ESG Score outperforms over 85 per cent of global peers Masan Consumer has announced that the company has achieved a 48 S&P Global ESG score from S&P Global, the world’s leading provider of credit ratings.