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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This prestigious recognition affirms Long Chau’s reputation and sustainable development capacity in the region, as well as the dedication of its team in delivering exceptional customer experiences.

It also marks a significant milestone in the brand’s ongoing journey to care for community health “For a Healthier Vietnam”.

The APEA is one of the region’s most prestigious business awards, organised annually by Enterprise Asia for the past 18 years.

The award attracts participation from hundreds of enterprises across 16 countries. Under the theme “Showcasing Future-Ready Enterprises’”, APEA 2025 aims to recognise and celebrate pioneering businesses and entrepreneurs who redefine the boundaries of enterprise excellence.

At this year’s event, Long Chau Pharmacy and Vaccination Centre proudly received the Corporate Excellence Award, a category that honours organisations demonstrating exceptional operational excellence, outstanding business performance, sustainable growth, and meaningful contributions to the community.

Long Chau Pharmacy and Vaccination Centre was honoured with the Corporate Excellence Award at APEA 2025

This award is a recognition of Long Chau’s steadfast journey towards sustainable development, a journey that harmonises business performance with community service and the aspiration to bring advanced, internationally standardised healthcare solutions closer to the people of Vietnam.

It is a proud milestone and reaffirmation of the company’s unwavering commitment to deliver modern, safe, and compassionate healthcare services that contribute to building a healthier and more sustainable Vietnam.

With a network of over 2,400 pharmacies, 200 vaccination centres, and a team of 20,000 doctors, pharmacists, and healthcare professionals, Long Chau is gradually shaping a comprehensive healthcare ecosystem centred around customers and patients, seamlessly connecting prevention, treatment, and long-term care.

Through this approach, Long Chau aims not only to expand access to modern healthcare for all but also to bridge the gap in healthcare between urban and rural areas, and between today and the future.

Nguyen Bach Điep, chairwoman of FPT Retail and general director of Long Chau Pharmacy and Vaccination Centre, shared, “This award is not only an honour but also a great motivation for the Long Chau team to continue reaching new milestones towards our shared goal “For a Healthier Vietnam” .At Long Chau, we firmly believe that if something can truly create value for the community, it is worth doing, and worth doing well.

Long Chau continuously innovates to provide higher-quality and more accessible healthcare services for everyone. We aspire to become a bridge between modern technology and the community, helping to narrow healthcare disparities, especially in underserved areas. Our ultimate goal is for every Vietnamese person to have access to safe, transparent, and compassionate healthcare services, no matter where they are, she added.

A representative of Long Chau speaks at the event

At the event, Ngo Quoc Bao, senior director of customer experience, communications and marketing, represented Long Chau Pharmacy and Vaccination Centre to receive the award and deliver a speech.

“Long Chau is proud to accompany tens of millions of customers on their healthcare journeys through a network of more than 20,000 medical professionals across 2,400 pharmacies and 200 vaccination centres nationwide,” he said.

Guided by our core values of transparency, superior product and service quality, and a customer-centric technology foundation, Long Chau continuously strives to ensure that everyone has access to modern, safe, effective, and timely healthcare products and services, Bao stated.

Long Chau was also recently honoured at the Better Choice Awards 2025 with the Breakthrough Solution in Digital Healthcare & Healthcare award. The recognition highlights the pioneering efforts of Long Chau’s Digital Health Record in applying digital technology to enhance the comprehensive healthcare experience for the public, while honouring innovative initiatives that deliver practical value to consumers.

In response to Resolution No. 72-NQ/TW of the Politburo and Resolution No. 282/NQ-CP of the government on breakthroughs in public healthcare, Long Chau has joined hands with medical authorities, hospitals, experts, and leading strategic partners to implement a series of programmes providing free health screening, medical examinations, healthcare services, and medicine distribution for disadvantaged people across the country.

At the same time, Long Chau pioneers the application of digital technology with a people-centred approach, aiming to enhance disease prevention and overall health improvement, while contributing to the development of a healthier community.

Founded in 2007, APEA is a prestigious regional accolade recognising enterprises and entrepreneurs who not only achieve outstanding business success but also lead in creating sustainable value for the community.

The award is organised by Enterprise Asia, a non-governmental organisation with a network of over 2,000 member companies across 16 markets, collectively generating more than $50 billion in revenue.

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