<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/5/15/503226_biofuel.jpg" alt=""></figure></td></tr><tr><td>A customer purchase E10 biofuel petrol at a PVOIL filling station on Thai Thinh street in Hà Nội. — VNA/VNS Photo</td></tr></tbody></table></figure>&nbsp;HÀ NỘI&nbsp;— Ahead of schedule, several major fuel distributors have begun rolling out E10 biofuel across their retail networks and are preparing to supply the market beyond their own systems.From May 15, according to the Petrovietnam Oil Corporation (PVOIL), E10 biofuel will be sold across the company’s network of nearly 1,000 filling stations nationwide, around two weeks earlier than the national implementation schedule.Meanwhile, PVOIL Sai Gon said it will cease sales of mineral-based RON 95-III petrol from the date, with E10 RON 95-III set to fully replace conventional RON 95-III across its retail system.The move follows a pilot programme launched in Hà Nội&nbsp;and Hải Phòng in August 2025, which generated largely positive feedback from consumers while meeting technical standards and demonstrating stable performance across vehicle types.Recent market surveys also show that filling stations operated by the Vietnam National Petroleum Group (Petrolimex) in HCM City have simultaneously begun publicising E10 prices, indicating the product’s broader rollout throughout the system.Specifically, from midnight on May 13, Petrolimex officially introduced E10 RON 95-V biofuel across its nationwide network of filling stations, agents and franchised outlets at VNĐ24,630 (US$0.93) per litre in Region 1 and VNĐ25,120 per litre in Region 2.E10 RON 95-III is being sold at VNĐ23,730 per litre and VNĐ24,200 per litre, respectively.While Region 2 are identified as areas far from ports, main depots, and petroleum production facilities, Region 1 comprises the remaining areas.Compared with conventional mineral-based petrol of the same grade, E10 prices are currently around VNĐ620–630 per litre lower.A representative of Petrolimex Sai Gon said the firm has proactively prepared infrastructure and implementation plans in line with the Government’s transition roadmap for biofuel.It has completed upgrades to blending capacity at the Nhà&nbsp;Bè&nbsp;petroleum depot, ensuring sufficient supply for the entire southern region during the transition from mineral-based petrol to biofuel products. Detailed conversion plans have also been prepared for all 138 Petrolimex Sai Gon filling stations in HCM City to ensure implementation remains on schedule.Văn Tân Phụng, chairman of the Dong Nai Petroleum JSC, confirmed that the company’s network of 18 retail stations and more than 30 agents will also begin selling E10 from May 15.From May 15 to 30, the company will sell E10 alongside conventional petrol, he said.From June 1, mineral-based petrol will officially cease to be traded across the entire system in accordance with Government policy and the roadmap outlined in Circular No. 50 of the Ministry of Industry and Trade.A representative from PVOIL expressed confidence that the corporation’s E10 blending system is now largely complete, and projected total production capacity to reach four million cubic metres annually by the end of this year. Expanding production capacity and diversifying supply sources, the company said, will help stabilise the market and ensure national energy security.The Vietnam Automobile Manufacturers' Association (VAMA) stated that most vehicles in the market have already been designed to operate with E10 fuel. Similarly, the Vietnam Association of Motorcycle Manufacturers (VAMM) confirmed that motorcycles produced by member companies are compatible with E10.&nbsp;<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/5/15/503267_5480780229410102_E10.jpg" alt=""></figure></td></tr><tr><td>Biofuel not only offers lower prices but also contributes to reducing pollution and emissions in major urban centres. — Photo thanhnien.vn</td></tr></tbody></table></figure>Trịnh Quang Khanh, general secretary of the Vietnam Petroleum Association, said member companies currently possess blending capacity of around 965,000 cubic metres per month, sufficient to meet nationwide demand for biofuel.However, he cautioned that biofuel petrol requires time for blending and cannot be supplied as immediately as conventional petrol. Without effective governance during the transition period, temporary supply bottlenecks could emerge despite the system’s adequate overall capacity.The association has therefore proposed raising the regulated business cost allowance for E10 petrol above that of mineral-based petrol to avoid undermining business efficiency for fuel distributors.While enterprises appear prepared for the transition, consumers are also showing growing interest in E10 ahead of its official nationwide implementation on June 1.Hoàng Hưng, a resident of Tăng Nhơn Phú ward in HCM City, said he had previously used E5 petrol and noticed little difference compared with conventional RON 95-III fuel.“If the station near my house sells E10 RON 95-III, I’ll use it immediately. I don’t really have any concerns. Convenience remains the most important factor when refuelling during daily travel,” he said.Ngọc An, a resident of Hòa Hưng ward, said her family will switch to biofuel once stations began selling it widely, though she believed lower prices will help consumers embrace environmentally friendly fuel more readily.Lê Trung Tình, chairman of the HCM City Passenger Automobile Transport Association, said biofuel not only offers lower prices but also contributes to reducing pollution and emissions in major urban centres.He noted that E10 has already been widely adopted in many countries, with some markets moving towards E15 or E20 blends to further improve environmental performance. However, he observed, public communication efforts remain insufficient, leaving many consumers, particularly owners of older vehicles, hesitant about the transition.Chairman of the Đồng Nai Petroleum Association Văn Tân Phụng described the Government’s shift from mineral-based petrol to biofuel as a major policy turning point tied both to the economy and Vietnam’s international commitments to green transition.Businesses and consumers naturally support this direction, he said, adding implementation should proceed alongside timely adjustments; if problems arise, they should be corrected within the first three months in order for this important policy to succeed.Associate Professor Dr Nguyễn Thường Lạng of the National Economics University stressed that E10 must maintain a meaningful price advantage over conventional petrol if it is to gain broad public acceptance, while businesses also need supportive policies to ensure rapid and effective implementation.He argued that Việt Nam is currently well positioned to accelerate the development of new energy sources such as wind power, solar energy, bioenergy, hydrogen and ammonia.However, for biofuels, particularly E10, to develop successfully, stronger and more coordinated policies are needed, especially pricing mechanisms capable of creating a sufficiently attractive gap between E10 and mineral-based petrol.“When the price difference becomes compelling enough, consumers will actively choose biofuel themselves, forming a new consumption habit and accelerating the overall transition,” he said.&nbsp;— VNA/VNS

From May 15, E10 biofuel will be available at nearly 1,000 PVOIL filling stations nationwide, around two weeks ahead of the national rollout schedule.

Biofuel ready for nationwide rollout

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/5/15/503240_bdfe4bf1-bcb0-4af7-a938-3c94de4b8d8c.png.jpg" alt=""></figure></td></tr><tr><td>The exchange of greenhouse gas emission quotas and carbon credits is conducted on the domestic carbon credit exchange through the carbon trading system, which is interconnected with the national registration system.&nbsp;— Photo congly.vn</td></tr></tbody></table></figure>HÀ NỘI&nbsp;— The Ministry of Finance has issued regulations on monitoring greenhouse gas emission quota transactions and carbon credits on domestic carbon exchanges, as well as the reporting regime in the field with an aim to create a synchronised and transparent legal framework for the formation and operation of the carbon market in Việt Nam.Circular No. 48/2026/TT-BTC, which took effect from May 12, was issued to complete the legal framework for monitoring transactions of greenhouse gas emission quotas and carbon credits in the context of Việt Nam gradually putting into operation a domestic carbon market according to the roadmap stipulated in the 2020 Law on Environmental Protection and Decree No. 29/2026/NĐ-CP on the domestic carbon exchange.Under the new circular, the exchange of greenhouse gas emission quotas and carbon credits is conducted on the domestic carbon credit exchange through the carbon trading system, which is interconnected with the national registration system.This necessitates the establishment of a synchronised, transparent&nbsp;and effective transaction monitoring mechanism, contributing to ensuring the safe and efficient operation of the market, in line with sustainable development goals.The circular also sets out principles, content and methods for monitoring greenhouse gas emission quota and carbon credit trading on the domestic carbon exchange, helping establish a unified and transparent legal framework in line with the market’s future development and management needs.Besides, the circular defines the responsibilities of the entities supervising transactions, the entities supervising transactions (stock exchanges and trading members), the State Securities Commission of Vietnam, the Vietnam Securities Depository and Clearing Corporation, depository members, as well as related organisations and individuals.According to the circular, the Vietnam Exchange, the Hanoi Stock Exchange, and the Vietnam Securities Depository and Clearing Corporation must submit quarter and annual reports on the trading situation, depository activities, transaction settlement, transaction supervision results and supervision of trading members on domestic carbon exchanges.In addition, the circular also stipulates ad hoc and on-demand reporting to promptly meet the needs of State management. — BIZHUB/VNS

The Ministry of Finance has issued regulations on greenhouse gas emission quota and carbon credit transactions on domestic carbon exchanges, aiming to create a transparent and synchronised legal framework for Việt Nam’s carbon market.

Ministry establishes monitoring framework for carbon market

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/5/15/503242_Screenshot_20260515_104850.jpg" alt=""></figure></td></tr><tr><td>Booths displayed Vietnamese products at a supermarket in Seoul. — YONHAP/VNA Photo</td></tr></tbody></table></figure>HÀ NỘI — Enterprises are being encouraged to adopt new market-entry strategies and deepen industrial cooperation with South Korean partners as trade ties between the two countries continue to expand and supply chains become increasingly integrated across Asia.Experts said South Korea is no longer only a destination for traditional Vietnamese exports such as seafood, textiles and agricultural products, but is also emerging as a strategic market for higher-value industrial goods, supporting industries and technology-linked manufacturing.The discussions came during a series of presentations on Việt Nam-South Korea industrial and trade cooperation on May 14, where South Korean and Vietnamese trade representatives outlined opportunities for Vietnamese businesses to strengthen their foothold in the South Korean market through supply chain integration, digital trade platforms and industrial partnerships.According to the Korea International Trade Association (KITA), Việt Nam has become one of South Korea's most strategic economic partners in Southeast Asia, supported by extensive investment flows and the growing presence of South Korean corporations in Việt Nam.Kang Heon Woo, chief representative of the KITA Office in Hà Nội, said that Việt Nam hosts more than 10,000 South Korean companies, many of which continue to rely heavily on imported materials and components from South Korea, China and other markets due to difficulties in identifying qualified local suppliers."This creates a strategic opportunity for Vietnamese enterprises to enter South Korean supply chains directly from Việt Nam before expanding exports into Korea itself," Heon Woo said.Data showed that Việt Nam has rapidly climbed among South Korea's top import partners. By March, Việt Nam ranked fourth among South Korea's largest importing countries, compared with seventh place in 2024.Việt Nam's major export items to South Korea include electronics, machinery components, textiles, agricultural products and processed consumer goods, reflecting a shift from labour-intensive exports towards more technology-oriented manufacturing.Experts said one of the most effective new approaches for Vietnamese firms is to leverage the extensive network of South Korean manufacturers already operating in Việt Nam.Major South Korean conglomerates including Samsung, LG, POSCO, Hyosung and Hyundai have built large-scale manufacturing ecosystems in the country, supported by hundreds of suppliers and satellite enterprises.Samsung Electronics and its affiliates alone are connected with around 1,000 partner companies in Việt Nam, while more than 500 Korean textile and apparel firms have established operations nationwide.Industry specialists said this ecosystem offers Vietnamese suppliers opportunities to participate in localisation programmes and gradually become part of South Korean corporations' regional and global procurement systems."South Korean companies in Việt Nam are seeking better cost efficiency and logistics optimisation, but many still struggle to identify reliable domestic suppliers," Bok Dug Gyou, deputy director of the Korea Trade-Investment Promotion Agency (KOTRA), said.Rather than focusing solely on exporting finished products directly into South Korean retail markets, Vietnamese enterprises were advised to position themselves as suppliers of industrial materials, supporting-industry products and intermediate goods within South Korean-led manufacturing networks.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/5/15/503262_5480775093233407_kita.jpg" alt=""></figure></td></tr><tr><td>Representatives at the meeting. — Photo courtesy of Vietrade</td></tr></tbody></table></figure>Trade representatives also highlighted the growing importance of data-driven market research and digital trade tools in accessing the Korean market.The representative of KITA encouraged Vietnamese companies to utilise South Korea's trade statistics systems, including K-Statistics and Korea Customs Service databases, to identify import demand trends, product categories and shifts in sourcing patterns before approaching buyers.Heon Woo also promoted the use of TradeKorea, a global B2B platform designed to connect exporters with Korean and international buyers through online product promotion and business matching services."South Korean buyers increasingly expect suppliers to provide detailed company information, certifications and quick responses through digital channels," he said.To strengthen competitiveness, Vietnamese firms were advised to improve compliance standards, product traceability and production flexibility while adopting a longer-term approach to relationship building in the South Korean market.Another strategy discussed at the event involved developing industrial value chain maps and company directories to improve transparency and help Korean investors identify potential Vietnamese suppliers more efficiently.The proposed value-chain mapping programme would categorise Vietnamese businesses according to the Vietnam Standard Industrial Classification (VSIC), business activities and tax registration information, creating a more structured supplier database for South Korean enterprises seeking local partnerships.South Korean trade and investment agencies also proposed expanding cooperation in technical workforce training, research and development, technology transfer and supporting-industry incentives to help Vietnamese firms move further up the value chain.The event additionally underscored opportunities in sectors such as electronics, automotive components, machinery, chemicals, distribution services and cultural content industries, where South Korean investment in Việt Nam has grown rapidly over the past decade.KITA Hà Nội office said it would continue supporting Vietnamese enterprises through buyer matching, networking consultations and business meeting coordination as companies from both countries seek to deepen trade and industrial ties. — BIZHUB/VNS

Experts said one of the most effective new approaches for Vietnamese firms is to leverage the extensive network of South Korean manufacturers already operating in Việt Nam.

Việt Nam eyes deeper access to South Korea beyond traditional exports

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/4/17/497822_5456766613503185_HN%20(2).jpg" alt=""></figure></td></tr><tr><td>Chairman of the municipal People’s Committee Vũ Đại Thắng chaired the meeting. — Photos courtesy of Hanoi Support Centre for Enterprise and Investment Promotion.</td></tr></tbody></table></figure>&nbsp;HÀ NỘI — Authorities in Hà Nội have reaffirmed their commitment to accompany businesses and decisively address their concerns as small and medium-sized enterprises (SMEs) continue to face multiple bottlenecks affecting growth and competitiveness, at a time when firms are seeking clearer policy support and faster reforms.The pledge was made by Chairman of the municipal People’s Committee Vũ Đại Thắng at a dialogue conference with SMEs held on April 16. The event served not only as a policy briefing but, more importantly, as a platform for businesses to directly voice difficulties and propose solutions.&nbsp;<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/4/17/497824_5456772987865818_HN4.jpg" alt=""></figure></td></tr><tr><td>Vice Chairman of the Hà Nội People’s Committee Nguyễn Xuân Lưu delivered an opening speech.&nbsp;</td></tr></tbody></table></figure>Speaking at the opening of the conference, Vice Chairman of the Hà Nội People’s Committee Nguyễn Xuân Lưu said the event was held at a historically significant time following the success of the 14th National Party Congress, marking the beginning of a new era, an era of the nation's&nbsp;rise&nbsp;as well as the successful elections of deputies to the 16th National Assembly and People’s Councils at all levels for the 2026–31 term. These events, he noted, reaffirm public trust, consensus and support.He emphasised that the conference was not only intended to provide updates on the situation, policies and orientations but more importantly to serve as a platform for the city to directly listen to feedback from the business community, thereby identifying difficulties and bottlenecks that need to be addressed in a substantive and effective manner.The conference also represents a concrete step in implementing major central policies on enterprise development and the broader economy, including Resolution No. 68-NQ/TW on private sector development and Resolution No. 79-NQ/TW on improving the efficiency of the state sector.Regarding the outlook for 2026, Lưu noted that global and regional developments remain fast-moving, complex and unpredictable, with prolonged geopolitical tensions affecting energy prices, global supply chains and the investment and business environment, placing significant pressure on enterprises.Against this backdrop, Hà Nội has implemented socio-economic development tasks in a concerted and decisive manner, achieving positive results in the first quarter of 2026. GRDP growth was estimated at 7.87 per cent, among the highest in recent years. State budget revenue exceeded VNĐ260.7 trillion, equivalent to 40.1 per cent of the annual estimate, while local budget expenditure surpassed VNĐ52.2 trillion.Foreign direct investment inflows totalled nearly US$480 million, while more than 9,000 new enterprises were registered, with a sharp increase in registered capital compared with the same period last year. The trade and services sector continued to expand, with total retail sales of goods and consumer service revenue rising by more than 11 per cent.“These results reflect the significant contribution of the business community, particularly small- and medium-sized enterprises, a dynamic and flexible force that plays a core role in the capital’s economy,” Lưu said, expressing appreciation for the entrepreneurial spirit of proactiveness, creativity and resilience.However, he also acknowledged that the results are only initial and fall short of the requirements for a breakthrough. Some growth drivers have yet to fully realise their potential, while businesses continue to face difficulties in accessing credit, land and production premises alongside rising input costs. In addition, administrative procedures in certain areas remain slow and implementation has yet to be sufficiently decisive, affecting production and business activities.At the conference, SME representatives pointed to a range of longstanding challenges, including limited access to credit, land constraints, administrative complexity, and difficulties in digital transformation.Nguyễn Minh Thu, Deputy Secretary-General of the Hà Nội SME Association, acknowledged the city’s efforts in administrative reform, digital transformation and maintaining dialogue channels with businesses. However, she noted that these improvements have yet to fully resolve underlying obstacles.“SMEs still face significant barriers, from accessing resources to rising operational costs,” she said, adding that the association had put forward a number of key recommendations to improve the business environment.Access to finance remains one of the most pressing issues. SMEs often lack sufficient collateral while lending procedures are time-consuming and requirements remain stringent. Businesses proposed expanding lending models based on purchase orders and improving the efficiency of credit guarantee funds.Land access and production space were also identified as major bottlenecks. Enterprises called for greater transparency in land availability, more appropriate allocation within industrial clusters and policies to support initial investment costs. In addition, they urged authorities to streamline procedures related to investment, construction, environmental compliance and fire prevention, suggesting stronger inter-agency coordination to shorten processing times.Beyond traditional constraints, SMEs also highlighted challenges in adapting to an increasingly digital economy. Many firms lack the financial resources, strategic direction and skilled workforce needed to implement digital transformation effectively.Representing the Hà Nội Young Business Association, Trần Văn Minh said its more than 3,300&nbsp;members had benefited from the city's support policies, particularly programmes for the 2026–30 period and expanded online public services. However, practical difficulties persist.He noted that rental costs account for around 25 per cent of total investment yet land leased on an annual basis cannot be used as collateral for loans. This limits businesses’ ability to access capital for reinvestment, especially in technology upgrades.Interest rates and credit policies also fluctuate, making it harder for firms to plan long-term strategies. To address these issues, the association proposed allowing land lease rights to be used as collateral or introducing medium- and long-term credit guarantee mechanisms.Businesses also recommended developing shared, low-cost digital solutions tailored to SMEs, enabling wider adoption of technology without imposing excessive financial burdens.At the dialogue, enterprises raised concerns across six main areas. In industry and trade, proposals focused on preferential credit for supporting industries, development of specialised industrial zones and stronger linkages between domestic firms and foreign-invested enterprises. The idea of establishing a national-scale logistics centre was also put forward to reduce costs and improve competitiveness.In tourism, businesses called for expanded visa exemptions and stronger inter-agency coordination to boost the sector’s recovery and growth.Administrative procedures more broadly were still described as cumbersome and inconsistent, particularly in areas such as work permits for foreign employees. Tax-related issues also drew significant attention, including difficulties in accessing electronic tax filing systems, delays in processing and cases where firms were flagged for tax arrears despite having fulfilled obligations.Tax officials at the conference said reforms had reduced administrative procedures by 35 per cent and that support systems, including AI-assisted services and 24/7 helpdesks, had been deployed to assist businesses. However, they acknowledged that system overload during peak periods could still cause disruptions.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/4/17/497825_5456774489172273_HN5.jpg" alt=""></figure></td></tr><tr><td>Bùi Anh Tuấn, Director General of the Department of Private Enterprise and Collective Economy Development under the Ministry of Finance.</td></tr></tbody></table></figure>&nbsp;Speaking at the event, Bùi Anh Tuấn, Director General of the Department of Private Enterprise and Collective Economy Development under the Ministry of Finance, said Hà Nội’s business community plays a critical role not only for the city but also for the national economy.He noted that while many localities organise business dialogues, Hà Nội is the first to hold a dedicated, in-depth conference focusing specifically on SMEs, with direct participation from city leaders and department heads. This, he said, reflects the city’s strong commitment to supporting the sector.Tuấn added that many of the issues raised are not unique to Hà Nội but reflect broader challenges that require policy adjustments at the national level.The Ministry of Finance is currently revising the Law on Support for SMEs after eight years of implementation. The revised law is expected to introduce more practical and transparent support mechanisms, with businesses placed at the centre of policy design and evaluation.He expressed hope that these changes will enable SMEs to access support more effectively and develop sustainably in the coming years.&nbsp;<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/4/17/497823_5456770689732762_HN3.jpg" alt=""></figure></td></tr><tr><td>Chairman of the municipal People’s Committee Vũ Đại Thắng delivered a speech at the event.</td></tr></tbody></table></figure>In his closing remarks, Chairman Vũ Đại Thắng emphasised that engagement with businesses would not end with the conference but would continue on a regular basis.He acknowledged existing shortcomings, including inconsistent administrative reforms, complex procedures and weak coordination among agencies. He also pointed to the need to address instances where some officials have not been fully supportive of businesses.The city, he said, is determined to shift from a management&nbsp;approach to a service-oriented&nbsp;administration, with businesses at the centre and satisfaction levels serving as a key measure of performance.&nbsp;<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/4/17/497826_5456776290742815_HN6.jpg" alt=""></figure></td></tr><tr><td>Chairman of the Hà Nội People’s Committee Vũ Đại Thắng and delegates pose for a commemorative photo at the conference.</td></tr></tbody></table></figure>Authorities will accelerate administrative reforms, cut at least 50 per cent of unnecessary procedures and improve the quality of online public services. City departments have been instructed to respond to business petitions within a maximum of 30 days.At the same time, Thắng stressed that businesses themselves must take a proactive role by strengthening governance, ensuring financial transparency, promoting innovation and enhancing linkages to build value chains.“Hà Nội is facing a major opportunity for breakthrough growth,” he said. “Achieving double-digit growth in the coming period will require the joint efforts of the political system, the business community and the people.”The city, he affirmed, will continue to listen, accompany and act in support of enterprises, recognising them as a central driver of economic development and long-term prosperity. — VNS

Authorities in Hà Nội have reaffirmed their commitment to accompany businesses and decisively address their concerns, as small- and medium-sized enterprises continue to face multiple bottlenecks affecting growth and competitiveness.

Hà Nội pledges to resolve business concerns, strengthen support for SMEs

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/4/16/496682_dungquat.jpg" alt=""></figure></td></tr><tr><td>The Dung Quất refinery, expected to form the core of the national refining and energy centre in Quảng Ngãi. — VNA/VNS Photo</td></tr></tbody></table></figure>HÀ NỘI — Việt Nam will introduce breakthrough policies to develop national energy centres, aiming to strengthen energy security and sustain high economic growth, Nguyễn Thanh Nghị, chairman of the Central Policy and Strategy Commission, said.Speaking at a national conference on implementing recent resolutions of the Communist Party of Việt Nam, Nghị said energy development would be a key pillar of building a modern, integrated infrastructure system over the next five years.The country aims to develop its energy industry towards clean energy while becoming a regional exporter of renewable energy, according to a revised national energy plan approved earlier this year.By 2030, several clean energy centres are expected to be established in the Red River Delta, the south-central coast, the Central Highlands and the southeast.The Ministry of Industry and Trade (MIT) has also proposed developing a national refining and energy centre at the Dung Quất Economic Zone in the central province of Quảng Ngãi, with total investment estimated at around US$16 –20 billion by 2045.Once completed, the project is expected to meet at least 30 per cent of the country’s fuel demand, provide strategic reserves equivalent to 30 days of production and consumption and create around 30,000 jobs.The development of national energy centres would help enhance energy security, reduce dependence on imports and attract both domestic and foreign investment while supporting the growth of supporting industries, Nghị stressed.The push comes as Việt Nam targets annual economic growth of at least 10 per cent in the 2026–30 period amid an increasingly volatile global energy market.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/4/16/496686_dung%20quat.jpg" alt=""></figure></td></tr><tr><td>An aerial view of the Dung Quất Economic Zone. The planned national refining and energy centre is seen as a strategic project amid growing global energy volatility. —VNA/VNS Photo</td></tr></tbody></table></figure>National energy driveThe development of the national refining and energy centre at the Dung Quất Economic Zone is an urgent and strategic task amid intensifying competition and instability in global energy markets, according to Lê Xuân Huyên, deputy director general of Vietnam National Industry – Energy Group (PetroVietnam).Đặng Hải Anh, deputy director of the Oil, Gas and Coal Department under the MIT, said the project must be viewed within the broader context of national energy security, as Việt Nam’s rapidly growing economy continues to drive up demand for electricity, fuel and overall energy consumption.The centre, therefore, is expected to be an integrated development space combining refining and petrochemicals with gas, LNG, power generation and renewable energy, with the existing Dung Quất refinery at its core, connecting with major projects including the Cá Voi Xanh gas field, LNG infrastructure, offshore wind power, deep-water ports and related value chains, Anh said.“The national refining and energy centre will help ensure energy security, enhance domestic production capacity and reduce dependence on imported petroleum and petrochemical products,” he said.“It will also support Việt Nam’s commitment to net-zero emissions by 2050 through the development of new energy sources such as green hydrogen and green ammonia.”Nguyễn Văn Tư, deputy general director of the Vietnam Petroleum Institute, said a breakthrough approach was needed, stressing the role of PetroVietnam as the master developer to coordinate the entire ecosystem.He also proposed a range of foundational policy mechanisms, including a one-stop approach to investment approval and land allocation, as well as allowing the direct appointment of PetroVietnam and its subsidiaries to implement core projects such as renewable energy, hydrogen, ammonia and carbon capture and storage instead of a bidding process.He called for the pilot implementation of a sandbox to establish an internal energy market within the centre to enable direct electricity trading and exchanges of steam, by-products and secondary energy among enterprises, alongside initial support policies for emerging energy products.Investment bottlenecksAccording to Nguyễn Hải Trường, deputy head of the Dung Quất Economic Zone’s Management Board, a key bottleneck is the lack of sufficiently strong mechanisms to attract large-scale investment.Trường proposed that the central government allocate Quảng Ngãi Province up to 30 per cent of import-export revenues generated in the zone to support infrastructure development. He also called for special investment procedures and exemptions from land auctions for projects within the centre.A representative of the Bình Sơn Refining and Petrochemical JSC (BSR), which operates the Dung Quất refinery, said the centre would require a flexible and tailored policy package given its large capital requirements, complex technologies and long investment cycles as well as exposure to market and policy fluctuations.The BSR proposed prioritising the attraction of strategic investors, offering higher corporate income tax incentives, exemptions on land and water surface rental fees and import duty exemptions for input materials. It also called for special investment procedures to shorten project preparation timelines.Additional recommendations included allowing the sale of surplus electricity within the zone, easing credit limits, developing carbon credit mechanisms, establishing venture capital funds and creating a dedicated master plan to ensure coordinated implementation.Đỗ Tâm Hiển, deputy chairman of the Quảng Ngãi People’s Committee, said the province would continue coordinating closely with the MIT and relevant agencies to finalise the development model, policy framework and implementation roadmap in line with government direction.At a recent Government meeting, the Prime Minister called for accelerated progress on the Dung Quất project — a test case for whether Việt Nam can translate bold policy ambitions into a coherent, future-ready energy system. — VNS

Việt Nam needs breakthrough policy mechanisms beyond tax incentives to accelerate plans for a national refining and energy hub at Dung Quất in the central province of Quảng Ngãi, as the country seeks to strengthen energy security amid global volatility.

Việt Nam to roll out special mechanisms for national energy centres

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/4/16/489930_CH1.jpg" alt=""></figure></td></tr><tr><td>Farmers harvest Tài Nguyên rice with combine harvesters in Cà Mau Province. — VNA/VNS Photo</td></tr></tbody></table></figure>CÀ MAU — A locally cherished rice variety grown for generations in southern Việt Nam is beginning to find a path beyond domestic markets, offering new opportunities for farmers in Cà Mau Province.The specialty Tài Nguyên rice, grown mainly in communes such as Vĩnh Lợi, Châu Thới and Hưng Hội, benefits from favourable soil conditions and long-standing traditional farming practices.Although the rice has long been consumed primarily within the domestic market, its economic returns are often higher than many export-oriented rice varieties.By late February this year, farmers in Tài Nguyên rice-growing areas across Cà Mau entered the main harvest season.Strong yields and stable prices have brought renewed optimism to local producers.At the same time, a newly signed export contract – the first of its kind for the variety – has opened the door for the rice to reach international consumers.A promising harvestOn fields in Trà Ban Hamlet in Vĩnh Lợi Commune, the atmosphere has been bustling in recent days as farmers race to harvest their crops under the scorching dry-season sun. The sound of combine harvesters and transport machines echoes across the fields.Từ Văn Dẫn, a local farmer harvesting around two hectares of Tài Nguyên rice fields, said the crop faced early challenges due to high tides that flooded newly planted fields.However, careful crop management helped ensure a successful season.“This year the yield is quite good. The rice sells for around VNĐ8,200 per kilogram (about 33 US cents). After production costs, each hectare brings a profit of about VNĐ45 million (around $1,800), which is a fairly good income for farmers,” Dẫn said.A similar sense of satisfaction could be seen on the face of Võ Văn Vũ Hoàn, a farmer in Nhà Dài A Hamlet of Vĩnh Lợi Commune, whose family had just completed harvesting six hectares of rice fields.With yields reaching around nine tonnes per hectare, the harvest produced roughly 50 tonnes of rice.“With the price ranging from about VNĐ8,000 per kilogram, our family earns nearly VNĐ250 million ($10,000) in profit this season,” Hoàn said.According to Hứa Sít, chairman of the Vĩnh Lợi Commune People’s Committee, more than 1,000 hectares of Tài Nguyên rice were cultivated in the commune this season.Most of the area is currently being harvested.Good yields and favourable prices not only ensure stable incomes for farmers but also encourage them to invest further in improved cultivation techniques for future crops.Untapped potentialDespite being mostly consumed in domestic markets, Tài Nguyên rice holds significant economic value.Agricultural experts note that the rice is produced under specific natural conditions, including distinctive soil characteristics, climate and traditional cultivation methods.These factors contribute to the rice’s unique qualities — soft texture, fragrant aroma and rich flavour — which distinguish it from other varieties.The brand “Tài Nguyên Vĩnh Lợi Rice” was granted a collective trademark certificate by the Intellectual Property Office of Việt Nam in 2010.Subsequently, authorities in Vĩnh Lợi Commune of Bạc Liêu Province, in collaboration with the Mekong Delta Rice Research Institute, worked to restore and preserve the original seed variety.However, for many years the collective trademark failed to fully realise its potential due to a lack of organised production linked with stable consumption markets, resulting in fluctuating prices for farmers.Tô Thanh Hải, vice chairman of the Châu Thới Commune People’s Committee, said Tài Nguyên rice originated from traditional seasonal rice varieties selected and preserved by local farmers over decades.“The brand has not yet developed as expected mainly because there has been no comprehensive planning for high-quality specialty rice production areas aimed at gaining geographical indication status,” Hải said.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/4/16/489931_CH2.jpg" alt=""></figure></td></tr><tr><td>The Tài Nguyên rice variety, a local specialty, is cultivated in communes such as Vĩnh Lợi, Châu Thới and Hưng Hội in Cà Mau Province, where favourable soil conditions support its growth. — VNA/VNS Photo</td></tr></tbody></table></figure>Toward global marketsIn addition, the overuse of chemical fertilisers and pesticides by some farmers has gradually affected the quality of the rice.To address these issues, the Cà Mau Department of Agriculture and Environment has coordinated with local authorities to implement various measures, including building concentrated production zones and establishing traceability systems.These efforts aim to improve production efficiency while raising farmers’ incomes.Encouragingly, a three-party cooperation agreement was recently signed between the Saigon Green Economy Cooperative, Total Feeling LLC (USA) and the Hưng Thịnh Cooperative in Vĩnh Lợi Commune to export 30 tonnes of specialty Tài Nguyên rice to the US.The deal marks a breakthrough in promoting the rice variety and opens new prospects for expanding its presence in global markets.According to Vĩnh Lợi Chairman Sít, building a stronger brand for Tài Nguyên rice will require safe production models that meet VietGAP standards, organic farming practices and modern cultivation techniques.Equally important is a shift in farmers’ production mindset, encouraging the use of biological fertilisers and reducing chemical inputs that may diminish the rice’s distinctive qualities.Local authorities will continue working with provincial agencies to restore the original Tài Nguyên seed variety, develop concentrated farming zones and ensure strict control of both production inputs and product quality.Efforts will also focus on granting planting area codes, implementing traceability systems and gradually building a closed value chain capable of meeting the requirements of demanding export markets.As Vĩnh Lợi and neighbouring areas step up trade promotion and expand market access, officials say building a stable value chain and meeting export standards will be key to turning Tài Nguyên rice into a competitive, high-value product in global markets. — VNS

Agricultural experts note that the rice is produced under specific natural conditions which contribute to the rice’s unique qualities — soft texture, fragrant aroma and rich flavour — which distinguish it from other varieties.

Cà Mau’s specialty Tài Nguyên rice seeks global markets

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/4/12/494054_phu%20my.jpg" alt=""></figure></td></tr><tr><td>PetroVietnam Fertiliser and Chemicals Corporation's&nbsp;packaging line for&nbsp;Phú&nbsp;Mỹ nitrogen fertiliser product. — VNA/VNS Photo</td></tr></tbody></table></figure>HÀ NỘI — Since early March, fertiliser prices have risen, driven largely by the impact of tensions in the Middle East.In response, domestic fertiliser producers have taken proactive steps to secure raw material supplies in an effort to stabilise prices.The agricultural sector consumes about 10 million tonnes of fertiliser annually, mainly urea and phosphate fertiliser.&nbsp;The country is largely self-sufficient in these two categories to meet domestic demand and remain relatively insulated from direct disruptions linked to Middle East&nbsp;conflicts.&nbsp;However, other fertiliser types still depend on imports, exposing domestic prices to global market fluctuations. These products have already seen price increases and are forecast to rise by a further 5–15 per cent.Compared to a month ago, prices of various inorganic fertilisers have surged sharply. According to Võ Văn Tươi, a farmer in Cần Thơ, the price of a bag of DAP fertiliser has climbed to VNĐ900,000 ($34), up significantly from VNĐ600,000 ($22.8) in late February.&nbsp;With fertilisers accounting for 40–50 per cent of production costs, farmers are under mounting pressure, particularly as agricultural product prices have yet to rise in tandem with input costs.Across the country, fertiliser prices have generally increased by 5–10 per cent, with some products rising by as much as 15–20 per cent or more.&nbsp;In the Mekong Delta, DAP Hồng Hà is currently priced at VNĐ1.25-1.3 million per bag, while DAP Đình Vũ ranges from VNĐ840,000 to VNĐ870,000.&nbsp;The urea prices range between VNĐ610,000-650,000 per bag for products from the PetroVietnam Ca Mau Fertiliser Joint Stock Company, while urea from the PetroVietnam Fertiliser and Chemicals Corporation (Phú Mỹ) is priced at around VNĐ610,000–630,000 per bag.In central provinces, NPK fertilisers are priced between VNĐ700,000 and VNĐ980,000 per bag depending on type.Phan Văn Tâm, deputy general director of Bình Điền Fertiliser Joint Stock Company, said the firm supplies around 750,000 tonnes of fertiliser annually. In light of developments in the Middle East, the company has stepped up production to ensure timely supply.&nbsp;In the first three months of the year alone, it supplied about 230,000 tonnes of NPK fertiliser, a 10 per cent increase year-on-year. It plans to deliver an additional 220,000 tonnes in the remaining months.Despite rising input costs, the company held prices steady until March 26 to support farmers, particularly in the Mekong Delta where rice prices remain subdued.&nbsp;However, after the date, it was forced to increase the prices by 5–10 per cent depending on product type. Those are expected to continuously raise from April 6 as higher input cost developments.Meanwhile, PetroVietnam Fertiliser and Chemicals Corporation (PVFCCo) has maintained stable operations, optimised distribution, and continued developing environmentally friendly products.&nbsp;The company is also preparing to expand urea exports. In 2026, PVFCCo aims to produce around one million tonnes of fertiliser, with plants currently operating at 110-115 per cent capacity to ensure adequate domestic supply.PVFCCo has prioritised product quality and strict distribution management to curb speculation and stockpiling. The company is also accelerating digital transformation across its supply chain to ensure timely delivery to agricultural regions.&nbsp;Besides that, it is working with authorities and agricultural experts to guide farmers in efficient fertiliser use, helping reduce costs and environmental impacts.&nbsp;The firm is also expanding its range of organic fertilisers, which are less exposed to market volatility and support sustainable farming practices.To safeguard the market, PVFCCo has called for stronger inspection and enforcement to tackle counterfeit and substandard fertilisers, thereby protecting both farmers and producers.&nbsp;<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/4/12/494055_crop.jpg" alt=""></figure></td></tr><tr><td>A farmer in Ninh Bình Province&nbsp;fertilises her winter-spring rice crop. VNA/VNS&nbsp;Photo</td></tr></tbody></table></figure>Nguyễn Viết Hiến, director of Ninh Bình Nitrogenous Fertiliser Plant, said&nbsp;that Việt Nam’s total urea production capacity stands at around 2.8 million tonnes per year, compared with domestic demand of roughly 2.1 million tonnes, leaving a surplus of about 700,000 tonnes for export.His company alone exports around 150,000 tonnes, while supplying about 350,000 tonnes for the domestic market.In the first quarter of 2026, the plant maintained urea prices at VNĐ14–14.5 million per tonne, largely unchanged from the final quarter of 2025.&nbsp;However, global prices have surged sharply – from around $390-400 per tonne in February to nearly $800 at present.&nbsp;Domestic prices have not fully adjusted to these increases due to market demand conditions and pricing mechanisms.To capitalise on export opportunities, the plant has proposed reducing urea export tariffs to zero, sustaining production while continuing to meet domestic needs.Meanwhile, Nguyễn Hoàng Trung, deputy general director of DAP–VINACHEM, highlighted that domestic demand for DAP fertiliser is about one million tonnes annually.&nbsp;However, up to 80 per cent of production costs depend on imported raw materials from the Middle East, pushing costs up by about VNĐ1.97 million per tonne, or around 12 per cent.Although the export prices are about VNĐ1.5 million per tonne higher than domestic prices, the company continues to prioritise the local market.&nbsp;In the first quarter alone, it supplied 110,000 tonnes domestically, marking a 60 per cent year-on-year increase.&nbsp;The company has proposed increasing apatite ore mining quotas to secure raw material supplies, alongside measures to stabilise the market and support farmers.Market stabilisationHuỳnh Tấn Đạt, director of the Plant Protection and Cultivation Department under the Ministry of Agriculture and Environment, stressed that ongoing geopolitical tensions in the Middle East are exerting direct pressure on global supply chains, driving up costs for raw materials and logistics&nbsp;and consequently pushing fertiliser prices higher.To ensure stable agricultural production, maintain supply&nbsp;and limit input cost increases, the department has outlined several key measures.&nbsp;These include balancing domestic supply and demand, maintaining stable production, maximising factory capacity, and ensuring transparency in market information to prevent speculation and artificial price distortions.Enterprises are also urged to strengthen forecasting capabilities, closely monitor global market developments – particularly energy prices, logistics costs, and raw material supply – and adjust import and stockpiling strategies accordingly. Diversifying supply sources is seen as essential to reducing dependence on specific markets.At the same time, businesses are encouraged to boost production, diversify products, and prioritise the domestic market, especially during peak demand periods such as the first quarter.The department has pledged to work closely with businesses, monitor market developments, and advise the ministry and the Prime Minister on appropriate support policies.&nbsp;It will also intensify market inspections, promote efficient fertiliser use&nbsp;and expand sustainable practices such as organic fertilisation.The State agencies are further considering policies to reduce transport, energy&nbsp;and input costs, as well as proposals to increase domestic raw material extraction quotas.&nbsp;Local authorities are being called upon to strengthen farmer education on efficient fertiliser use, while the agricultural sector promotes greater adoption of organic fertilisers and cost-saving application methods to reduce reliance on inorganic inputs during this period of volatility. — VNS

The agricultural sector consumes about 10 million tonnes of fertiliser annually, mainly urea and phosphate fertiliser.&nbsp;

Fertiliser producers act to stabilise market amid rising prices

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/4/12/495230_5447291868755094_1.jpg" alt=""></figure></td></tr><tr><td>Workers at a factory in Hà Nội, Việt Nam. VGP Photo</td></tr></tbody></table></figure>HÀ NỘI Business activity in the first quarter of 2026 remained broadly stable but showed clear divergence across sectors, according to a survey by the National&nbsp;Statistics Office. Rising input costs and weak market demand continue to weigh on enterprises, with nearly half calling for lower lending interest rates to ease financial pressure.The survey covered 19,907 enterprises across 34 provinces and cities, with a response rate of 97.4 per cent. Results show that 68.8 per cent of businesses reported their operations in the first quarter were either better or unchanged compared with the fourth quarter of 2025. Among them, 20.5 per cent said conditions had improved while 48.3 per cent described their situation as stable. Meanwhile, 31.2 per cent said business conditions had worsened.Compared with the previous quarter, however, businesses have become more cautious. The share of firms reporting improvement declined by 4.9 percentage points, while the proportion describing conditions as stable fell by 2.1 percentage points. At the same time, the percentage of enterprises reporting greater difficulties rose by seven percentage points, suggesting that the recovery remains fragile.Nearly 47 per cent of enterprises proposed that the Government and relevant ministries introduce measures to lower lending interest rates in order to reduce input cost pressures.By sector, trade and services remained the most optimistic area. About 77.9 per cent of businesses in the sector reported improved or stable operations, including 21.1 per cent reporting improvement and 56.8 per cent stability. Only 22.1 per cent said conditions had become more difficult.Manufacturing and processing industries also maintained relatively stable performance, with 69.9 per cent of enterprises reporting improved or stable operations. However, 30.1 per cent still faced difficulties, indicating that pressures on the key production sector have not fully eased.Construction remained the most challenging sector. Only 55.6 per cent of enterprises reported improved or stable operations, while 44.4 per cent said conditions had worsened compared with the previous quarter, reflecting the strong impact of rising material costs and market challenges.Foreign-invested enterprises showed the highest level of optimism, with 71.7 per cent reporting improved or stable performance. The corresponding figures for State-owned enterprises and domestic private firms were 69.5 per cent and 68.3 per cent respectively, indicating that challenges are broadly shared across the business community.Rising prices of raw materials, fuel and logistics services remain the most significant challenge. As many as 56.1 per cent of enterprises identified increasing input costs as their main difficulty, a sharp rise compared with previous quarters.On the demand side, the slow recovery of domestic consumption continues to affect business activity. About 50.4 per cent of enterprises said weak market demand directly impacted their operations, a figure that has remained largely unchanged from the previous quarter.The construction sector has been particularly affected, with 70.1 per cent of firms reporting difficulties due to higher material prices. In response to these challenges, enterprises have put forward several policy recommendations. Lower lending interest rates emerged as the most common proposal, supported by 46.8 per cent of surveyed businesses. More than half of respondents, or 54.8 per cent, called for policies to stabilise prices of raw materials and service costs, while 33.5 per cent recommended measures to ensure stable supply for production.Regarding fiscal policy, 37.5 per cent of enterprises suggested adjusting taxes, fees and other financial obligations to better match current economic conditions, while 19.9 per cent proposed reducing land rental fees to ease cost burdens. The recommendations reflect not only immediate concerns but also expectations for longer-term policies that can enhance competitiveness and help enterprises adapt to an increasingly uncertain economic environment. VNS

Results show that 68.8 per cent of businesses reported their operations in the first quarter were either better or unchanged compared with the fourth quarter of 2025.

Businesses call for lower lending rates as cost pressures mount

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2026/4/12/495460_5448048037982542_REE-dien-gio.jpg" alt=""></figure></td></tr><tr><td>A wind farm project of REE Corporation in Khánh Hòa Province. — Photo reecorp.com</td></tr></tbody></table></figure>HÀ NỘI — Volatile crude prices driven by geopolitical tensions have cooled the recent speculative fervour around oil and gas stocks in Việt Nam, redirecting investor flows toward the power sector, energy infrastructure and alternative energy plays perceived as more stable and sustainable.Market participants say the initial rally in oil and gas names quickly lost momentum as investors reassessed supply risks and the sector's structural exposure.Listed Vietnamese oil and gas companies largely occupy supporting roles across the value chain: upstream service providers such as PetroVietnam Technical Services Corporation (PVS) and PV Drilling (PVD), midstream transport and coordination firms like PV Gas (GAS) and PetroVietnam Transportation Corporation (PVT) and downstream distributors and retailers including Petrolimex (PLX) and PV Oil (OIL).That structure leaves the industry heavily reliant on imported crude, with a material share coming from Kuwait, which amplifies concerns over supply disruption when geopolitical risks flare in the Middle East.As a result, speculative money has retreated and many hydrocarbon stocks have reverted to an accumulation phase.Energy consumption in Việt Nam currently comprises roughly 30 per cent electricity, more than 37 per cent gasoline and about 26 per cent coal, Đỗ Minh Trang, head of the Research Department at ACB Securities, told tinnhanhchungkhoan.vn.She noted that when fuel prices surge and supply becomes uncertain, policymakers are compelled to accelerate alternative measures to safeguard energy security, positioning the power sector at the centre of those efforts.State authorities and Vietnam Electricity (EVN) have reportedly acted to ensure reliable operations at thermal plants while addressing legal bottlenecks for renewable projects, notably floating solar and nearshore wind, steps that support the electricity sector over the medium to long term.Within the power mix, coal‑fired thermal plants are seen as relatively stable because much of their output is secured under long‑term power purchase agreements, allowing fuel costs to be largely passed through into tariffs.Yet capacity growth for coal‑fired generation is limited since many plants are already running near maximum output.Hydropower, despite its low operating cost and dispatch priority, remains vulnerable to hydrological cycles. A return of El Niño could depress hydro output and create further demand for alternative generation.Renewable energy owners such as Refrigeration Electrical Engineering Corporation (REE), Hadoco (HDG), Gia Lai Electricity (GEG) and PC1 Group (PC1) are identified as likely beneficiaries between 2026 and 2030 as new projects enter service.Power‑grid and construction contractors are also drawing investor attention.Rising needs for transmission upgrades, grid reinforcement and new plant construction have boosted the backlog for companies such as PC1, Power Engineering Consulting JSC 1 (TV1) and Power Engineering Consulting JSC 2 (TV2) and even created demand opportunities for firms traditionally focused on oil and gas services like PVS. That backlog is expected to translate into early‑stage revenue growth as projects ramp up from 2026.Outlook for the electricity sector in 2026 remains very positive, with consumption growth potentially reaching 12–14 per cent, said Trần Tuấn Dương, CFA, senior analyst for construction, energy and securities at Bao Viet Securities.He attributed growth drivers to extreme weather associated with a strong El Niño, accelerated adoption of electric vehicles in response to high fuel prices and rising electricity demand from data centres, a global trend gaining momentum.Dương cautioned that gas‑fired thermal plants face a more complex outlook due to LNG price volatility; elevated input costs could curtail their dispatch and reduce realised output despite operational flexibility.Industry leaders likewise flagged the broad repercussions of geopolitical shocks.Nguyễn Thị Mai Thanh, chairwoman of Refrigeration Electrical Engineering Corporation (REE), told shareholders at REE's 2026 annual general meeting that Middle East tensions have delivered a significant shock to global energy markets with ripple effects across transport, logistics and fertiliser sectors.She said Vietnamese power plants under REE's portfolio have been run near full capacity in recent months and that for fossil fuel units, operational discipline is critical, while hydropower and renewables are prioritised where possible.Valuation disparities are guiding the reallocation of capital.Coal stocks trade at a price-to-earnings (P/E) of just over 9x, roughly 35 per cent above their five‑year average, indicating much of the upside may already be priced in. By contrast, power stocks have a P/E of about 11.1x, approximately 20 per cent below their five‑year mean, leaving room for rerating where growth and project readiness are clear.The flow does not mean money is leaving the energy complex entirely. It is reallocating into segments with greater stability, lower geopolitical exposure and more sustainable cash generation, Dương said.Liquidity patterns underscore the shift. Trading volumes in coal, thermal power, renewables and electrical construction have risen markedly in recent weeks, signalling active capital rotation into these segments.However, analysts warn that coal and coal‑fired power securities can suffer from historically low liquidity: prices may spike quickly but can also fall back into illiquid trading ranges, complicating execution for investors.Capital demand for Việt Nam's power sector is substantial, as investment needs for 2026–2030 are estimated at VNĐ4.9–5.5 quadrillion, creating long‑term growth opportunities for engineering, procurement and construction contractors as well as advisory firms engaged in power projects. — BIZHUB/VNS

Market participants say the initial rally in oil and gas names quickly lost momentum as investors reassessed supply risks and the sector's structural exposure.

Oil and gas stocks cool as investors shift into electricity, renewables and grid contractors

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TNH99 Vietnam joint stock company is a multi-sector investment management company. Currently, TNH99 focuses on media, marketing, real estate, health care, F&amp;B and trading. TNH99 Vietnam always defines the customer benefits as the core value in it’s development strategy. We have been incessantly inovating, creating new values, complying with, committing to respect and consistently enforcing the common principles of conduct that make up TNH99 culture. Each member of TNH99 Vietnam has so much enthusiasm, devotion. They understand that interests of the company as well as its customers and social responsibility are focused.TNH99 currently has over 26 subsidiaries and affiliates throughout the country. At TNH99, more than 300 employees, experienced professionals, industry-leading experts, senior advisors and an open knowledge system provide a solid foundation for sustainable development.PRINCIPLES OF OPERATIONFollowing the "for human development" philosophy, TNH99 constantly searches and researches the needs of human and social trends. With the visionary leadership and management as well as young and professional staff, we are constantly growing and affirming our brand in the fields in which we operate in the Vietnamese market.CORE VALUESPeople are the most important resource, helping to create the values and differences of TNH99. They have the knowledge, qualifications and experience that are constantly accumulated and developed.The employees of TNH99 also have the unique characteristics of the Vietnamese people and industries. They always unite, strive towards professionalism, absorb and behave appropriately in communication with customers.Besides, leadership capacity is a key factor that helps TNH99 plan and successfully implement the sustainable development goals, promote the use of advanced management systems and tools, make accurate and timely decisions.Orientation to improve social responsibility, value management is applied at TNH99 to create a culture of effective work, productivity and quality. These values ​​are shared by TNH99 leaders and staff with partners and customers.TNH99 is committed to behave and operate with the following values: Efficiency, Quality, Straightforward, Enthusiastic, Professional.QUALITY POLICY:Meet the needs and satisfy customers by the highest quality of organization and service;Regularly research, apply and develop advanced technology to improve product quality, service and competitiveness in the field of operation;Identify and provide sufficient resources to ensure effective implementation of the quality management system.DEVELOPMENT ORIENTATIONWith a joint-stock operating model, we are still consistent with the tagline "We grow business", in which the principle of human resource development is an important step, governance is an important phase and promoting corporate culture is a regular task. Oriented solutions and services of TNH99 helps businesses to create sustainable added values ​​for people.We are committed to providing the most effective and practical services for Vietnamese businesses and the world for sustainable joint development.We always keep in mind, cherish and create products that constantly meet the expectations of the business community.We behave and cooperate based on civilized values ​​while promoting the cultural identities of VietNam.

About Us

In more than 15 years of establishment and development, with prestigious brands such as the Institute for Brand Strategy and Competition (BCSI), Vibiz, Vmark, Aaker,... and hundreds of media channels, we have affirmed our position as one of the pioneers and prestigious units in the field of market research, marketing consulting, communications, advertising and event organization in Vietnam. With a strategic vision and an experienced creative team, we provide comprehensive communication solutions, helping businesses not only reach the right customers but also build sustainable brand value in the public mind. The modern media industry requires a combination of content strategy, technology and the ability to understand consumer behavior. We provide a closed service ecosystem, including: - Market research and brand health - Consulting and building integrated communication strategy (IMC) - Creative content production (TV, digital, OOH, POSM, corporate films, TVC ...) - Management and implementation of multi-channel advertising campaigns: from traditional press to digital platforms such as Facebook, YouTube, TikTok, Google ... - Internal branding and brand communication services - PR - Press communication and media crisis handling With the orientation of "communication is not only to be known, but to be trusted", we always focus on the depth of the message, personalization and the ability to connect the brand with the target customers. In addition to communication capacity, we are a leading event organizer, with more than 1,000 large and small events held nationwide. We provide services from concept, design, production to full operation, including: - Marketing campaigns - Product launch, opening ceremony, anniversary celebration - Customer conferences, seminars, international forums - Activation, roadshow, exhibition, trade fair - Cultural, artistic and community CSR events Each event we organize is designed as a vivid communication story, where the brand is not only introduced, but also felt, loved and remembered. Our strength lies not only in our ability to organize or create content, but also in our ability to think about comprehensive communication strategies. We understand that in the digital age, brands cannot "shout loudly" but must "say the right thing, do the right thing and touch the emotions". With a team of experienced experts in marketing, communications, content production, art and digital technology, we are a trusted partner in the journey of building strong brands, winning public trust and promoting business growth.

Communication

In the digital age, information technology is not only a tool to support operations but has become the backbone of business development strategies. Realizing that, TNH99 has developed information technology services as a strategic pillar, providing comprehensive digital solutions for organizations and small and medium enterprises in Vietnam. TNH99 specializes in consulting and implementing digital transformation roadmaps from the root - starting from assessing the current state of operations, analyzing needs, to building digital systems suitable for the characteristics of each industry. We do not provide "ready-made" technology products, but focus on designing flexible, customized solutions according to reality, to ensure effective implementation and sustainable operation. One of TNH99's outstanding strengths is software development in the fields of medical health care, building management and operation, data mining, social listening. These systems are capable of linking internal data, real-time reporting and expanding integration with other platforms such as accounting systems, electronic invoices, banks or online payment gateways. In parallel with the management software, TNH99 also owns a team of experts in designing and operating business websites, e-commerce platforms and landing page platforms dedicated to marketing campaigns. All are built with a friendly interface, SEO standards, fast loading speed, multi-device compatibility and high security. In addition, TNH99's e-commerce solutions also support order management, customers, shopping carts, online payment integration and effective remarketing tools. In terms of infrastructure, TNH99 provides comprehensive IT system management solutions, from server setup, internal or cloud storage systems, to LAN setup, surveillance cameras, remote operating systems. In particular, information security and safety services are one of the top priorities, with encryption tools, periodic backups and access monitoring to protect business data from increasing cyber risks. For businesses that do not want to invest in their own IT team, TNH99 provides IT Outsourcing services - hiring technology experts periodically or by project. From daily technical support, system maintenance, troubleshooting, to training internal staff to use technology systems, we ensure professionalism - quick response - cost savings while still ensuring stable operating quality. All of TNH99's information technology services are built on 4 core principles: understanding the problem correctly - designing a custom solution - flexible implementation - long-term companionship. Not only a service provider, TNH99 wants to become a strategic technology partner of businesses on the journey of sustainable development.

Infomation Technology

We are a pioneer in providing comprehensive F&amp;B solutions, from restaurant operations, event organization, catering to importing and distributing high-end culinary specialties, including wine and imported food from famous regions around the world. With the philosophy that cuisine is a bridge between culture and life experience, TNH99 is committed to bringing customers satisfaction in every dish, every glass of wine and every moment of service. Professionally operated culinary - F&amp;B service chain: - KKAVENUE member company with a multi-style La Fontaine restaurant chain: from traditional Vietnamese dishes to modern fusion menus, youthful design space, international standard service. - Catering: serving family parties in a cozy and private space at private homes and villas, ensuring food safety, reasonable nutrition, and standard operation. - Event party - catering service: organizing full package wedding parties, birthdays, conferences, opening ceremonies... with flexible menus and attentive service. Importing - distributing high-end specialties and wines: Brandx member company is a direct importer and exclusive distributor of many high-end product lines serving the sophisticated culinary market: - Imported wines and beverages: from France, Italy, Chile, Australia, America,... with a diverse portfolio from regular wines to premium lines (Grand Cru, DOCG, Reserva...). - Regional specialties and high-end ingredients: such as European cheese, cold cuts, local spices, organic foods - supporting restaurant chains and distributors. - Gift baskets, high-end culinary gifts: designed according to the holiday season, combining the quintessence of Vietnamese and international cuisine - both luxurious and meaningful. We commit to: - Quintessence of raw materials - input standards: strictly selected, clear origin, meeting international safety standards. - Continuous innovation - flexible according to needs: meeting diverse individual, organizational and corporate customers. - Consistent service quality: whether it is a meal or a glass of wine at a high-end party, TNH99 focuses on the final customer experience. - Sustainable development - responsible business: minimizing F&amp;B waste, developing a clean supply chain, prioritizing high-quality Vietnamese goods.

Our Expertise

In TNH99's multi-industry development strategy, the real estate sector plays an important role in creating long-term value for the community and investors. Established as a member company, Allard Homes was born with the mission of becoming a professional, humane and sustainable real estate management and development unit, focusing on modern - sophisticated - livable housing products and urban projects. Allard Homes operates on the foundation of combining creative development thinking and international standard implementation capacity. With a team of experienced experts in the fields of planning, architecture, construction and finance, Allard Homes participates comprehensively in the process of market research, master planning, architectural design, construction and project management.From nursing homes, health care centers, eco-villas to synchronous urban areas, Allard Homes always focuses on three core factors: Construction quality - Investment value - Living experience. Each project is not just a real estate product, but a living ecosystem: a harmony between utilities, landscape, architecture and future residential community.In particular, Allard Homes prioritizes participating in the development of projects following the trend of "green and smart real estate", integrating standards of energy saving, green space, smart management and long-term after-sales services - contributing to the sustainable development of Vietnamese urban areas.With financial support, a multi-industry ecosystem and operational capacity from TNH99, Allard Homes not only creates high-quality real estate products, but also opens up opportunities for transparent, effective and long-term investment cooperation for strategic partners, individual and institutional investors.

Real Estate

With a distinguished heritage spanning over a decade in healthcare excellence, TNH99 Vietnam Joint Stock Company established the Medpharin Institute for High-Tech Pharmaceutical Research and Development — a pioneering institution dedicated to delivering optimal, bespoke health solutions through the harmonious integration of advanced biomedical technology and the enduring wisdom of traditional medicine.&nbsp;Complementing this foundation, TNH99 has thoughtfully cultivated a comprehensive healthcare ecosystem through a portfolio of esteemed subsidiaries. Peacelife Vietnam specializes in the production and distribution of premium herbal remedies and functional supplements, preserving and revitalizing Vietnam’s rich tradition of medicinal herbs. In parallel, My Health Vietnam stands at the forefront of digital healthcare innovation, developing intelligent m-Health platforms, AI-powered medical applications, gene sequencing technologies, family healthcare management solutions, and precision medicine services — all committed to fostering a proactive, health-literate community while elevating the global stature of Vietnamese healthcare.&nbsp;Building upon this legacy of holistic well-being, TNH99 made a visionary expansion into the luxury wellness and beauty sector with the founding of Éclat Vietnam — the exclusive owner and operator of Éclat Wellness &amp; Spa. Conceived as a sanctuary of refined beauty and restorative tranquility, Éclat Wellness &amp; Spa masterfully unites advanced therapeutic techniques, state-of-the-art technology, and an opulent, resort-style ambiance. Nestled within Hanoi’s prestigious Diplomatic Corps area — a modern, well-appointed neighborhood offering easy connectivity to the city’s major residential and commercial hubs — Éclat Wellness &amp; Spa offers an exquisite, timeless beauty experience through a portfolio of meticulously curated, five-star personalized services across three signature domains: Spa – Massage – Hair &amp; Nail. Every moment within Éclat is an invitation to celebrate individual beauty, nurture inner harmony, and embrace the art of gracious living.

Với hơn một thập kỷ hoạt động trong lĩnh vực chăm sóc sức khỏe, TNH99 đã thành lập Viện Nghiên cứu và Phát triển Dược phẩm Công nghệ cao (Medpharin), cung cấp các giải pháp tối ưu, cá nhân hóa, kết hợp giữa công nghệ hiện đại và tinh hoa y học truyền thống. Song song với đó, Tập đoàn cũng phát triển hệ sinh thái chăm sóc sức khỏe thông qua các công ty thành viên. Công ty Peacelife Việt Nam chuyên sản xuất và phân phối thực phẩm chức năng và các sản phẩm chăm sóc sức khoẻ từ thảo dược, đặc biệt là các sản phẩm từ cây thuốc Nam. Bên cạnh đó, TNH99 đầu tư Công ty My Health Việt Nam, tiên phong ứng dụng công nghệ thông tin vào y tế, phát triển các nền tảng m-Health, giải pháp số hóa, trí tuệ nhân tạo, giải trình tự gen, chăm sóc sức khoẻ gia đình và y học chính xác, với sứ mệnh xây dựng cộng đồng khỏe mạnh, chủ động và từng bước nâng tầm vị thế người Việt trên trường quốc tế.Dựa trên nền tảng vững chắc đó, TNH99 tiếp tục mở rộng lĩnh vực wellness &amp; beauty với sự ra đời của Éclat Việt Nam — đơn vị sở hữu và vận hành thương hiệu Éclat Wellness &amp; Spa. Đây là chuỗi điểm đến làm đẹp toàn diện, kết hợp liệu pháp trị liệu chuyên sâu, công nghệ tiên tiến và không gian nghỉ dưỡng đẳng cấp. Éclat Wellness &amp; Spa mang đến trải nghiệm làm đẹp vượt thời gian và thư giãn tuyệt đối thông qua hệ thống dịch vụ cá nhân hóa chuẩn 5 sao, tập trung vào 3 lĩnh vực chính: Spa – Massage – Hair &amp; Nail.