Gold Price Plunge and Its Impact on the Vietnamese Economy

Key pointsUS employment statistics exceeded market expectations, strengthening speculation of an interest rate hike by the Federal Reserve, leading to a sharp decline in international gold prices. The world's largest gold ETF, SPDR Gold Trust, continues to sell off gold, which may also affect the Vietnamese economy. The drop in gold prices is expected to impact Vietnam's export industries and prices through pressure on the dong and capital flows.
Business impactFor Japanese companies, changes in US monetary policy will affect the dong exchange rate and financing costs, requiring particular attention from finance departments. The trend in gold prices is also related to raw material procurement and exchange rate risks in manufacturing, making it important to monitor future developments.

Key pointsAkasa Air, an Indian airline, has launched a direct flight between Mumbai and Hanoi, operating four times a week. This service is expected to strengthen connections between the two cities and promote tourism, trade, investment, and economic cooperation. Hanoi serves as a significant political, economic, and cultural hub for India, contributing to the strengthening of bilateral relations.
Business impactJapanese companies will benefit from easier access to the Indian market, leading to increased trade and investment opportunities, particularly in logistics and tourism sectors.

Key pointsIn the first eight months of 2026, 156,478 new companies obtained tax numbers, while 23,000 companies applied for dissolution. The number of new establishments reached 6.8 times that of dissolutions, indicating economic growth. Tax authorities are optimistic about the increase in company formations and expect a revitalization of economic activities.
Business impactThe rise in new companies signifies expanded market opportunities for Japanese firms. In particular, tax and legal departments need to pay attention to transactions and regulatory compliance with newly established companies.

Key pointsAt the 'International Product Supply Chain Connection 2026' event held in Vietnam, many international buyers from countries such as the United States, Japan, China, and India expressed surprise and interest in Vietnamese specialty products, particularly nuts, coffee, and frozen bread. Notably, producers of nuts and coffee engaged with hundreds of international buyers and received positive feedback. The American retailer 'Target' has made its first procurement in Vietnam, raising expectations for further export contracts.
Business impactFor Japanese companies, as the international recognition of Vietnamese specialty products increases, it is crucial to strengthen collaboration with local suppliers and explore new export opportunities. In particular, the food industry will require improvements in quality standards, necessitating strategic efforts to enhance product competitiveness.

Key pointsThe National Competitiveness Council has warned that products recalled abroad may affect Vietnamese consumers, including automobiles, cosmetics, and toys. Notably, Nature’s Own products and Allen's candies recalled in Australia have been highlighted, raising concerns about health and safety risks.
Business impactJapanese companies should monitor this trend and assess its impact on related transactions, contracts, and local practices.

Key pointsThere is a problem where many companies have been inactive for a long time but cannot close their tax numbers. The tax authority is reviewing policies to organize the tax obligations of inactive companies, having organized 72,000 tax numbers by the end of August 2026. The tax authority aims to simplify procedures and secure necessary resources.
Business impactJapanese companies should monitor this trend and assess its impact on related transactions, contracts, and local practices.

Key pointsResolution No. 27, announced on August 28, 2026, outlines a new framework to promote regional development in Vietnam. It emphasizes the importance of regions functioning according to their roles and advantages, highlighting the significance of a unified ecosystem. This is expected to strengthen inter-regional collaboration and contribute to national development.
Business impactThis resolution encourages Japanese companies to reassess their regional strategies, particularly emphasizing business development that leverages inter-regional collaboration. Companies need to formulate strategies that consider the characteristics of each region.

Key pointsThe revamp of Phu Quoc International Airport in Vietnam is deemed necessary for the upcoming APEC 2027. The Ministry of Construction's review committee has supported adjustments to modernize the airport's infrastructure and promote sustainable development, anticipating an increase in air passenger numbers for Phu Quoc.
Business impactJapanese companies need to closely monitor the progress of infrastructure development for APEC 2027. In particular, businesses related to logistics and tourism may see increased demand as the airport's functionality improves.

Key pointsThe Vietnam Tax Authority announced that during an 8-month period in 2026, it assigned new tax numbers to 167,637 companies and invalidated 94,991 tax numbers. This campaign aims to organize corporate data and support companies returning to the market. Notably, over 6,000 reinstatement procedures were conducted in August, with approximately 17,000 companies in contact with the tax authority. Additionally, GDP growth and increased tax revenue are anticipated for 2026, positively impacting the overall economy.
Business impactThis information is crucial for Japanese companies to understand tax management and corporate registration status. It is essential to stay updated on the latest trends regarding tax number invalidation and reinstatement procedures to respond appropriately.

Key pointsOn September 4, 2026, a seminar titled 'Enhancing the Value of Agricultural Products and Food in Sustainable Supply Chains' was held in Ho Chi Minh City, discussing new requirements for Vietnamese agricultural products to enhance their competitiveness in international markets. The seminar emphasized the stringent technical barriers and environmental standards in the EU and US markets, highlighting the importance of traceability and sustainability for agricultural products.
Business impactJapanese companies have the opportunity to strengthen collaboration with Vietnam's agricultural sector by providing technologies and know-how to meet these standards.

Key pointsOn September 4, the Vietnam National Coal and Mineral Industries Group (TKV) held a meeting to discuss investment plans for expanding the production capacity of the Nhân Cơ aluminum plant. This project includes a new production line aimed at producing 1.2 million tons of aluminum annually, catering to both domestic and export markets. The total investment is approximately 247 trillion VND, with a construction period of 45 months.
Business impactJapanese companies should consider opportunities to enter the aluminum market. The expansion of the Nhân Cơ plant represents a significant business opportunity, especially for companies interested in environmental protection and efficient production technologies.

Key pointsCan Tho City is strengthening commercial partnerships with Hanoi to expand regional specialty products into the northern market. This initiative is expected to establish stable production and distribution connections. Can Tho, with its abundant supply of agricultural products and processed foods, aims for further market expansion by linking with Hanoi's modern distribution system.
Business impactThis partnership provides Can Tho businesses with opportunities to develop new sales channels, particularly requiring a strategic review in distribution and logistics.