VinMetal to Hire 82 for New Steel Plant Project

Key pointsVinMetal, a subsidiary of Vingroup, announced the hiring of 82 personnel for the construction of a new steel plant in the Vung Ang Economic Zone in Ha Tinh Province. The hires will include a range of positions such as engineers and management. The project has a total investment of approximately 80 trillion VND and aims to produce 5 million tons of steel annually. VinMetal plans to implement environmentally friendly manufacturing processes in collaboration with Primtals Technologies.
Business impactThis project presents new business opportunities for Japanese companies, particularly in the construction and steel industries, expanding potential collaboration avenues.

Key pointsVinFast has announced plans to develop new models for the Indian market. Prior to this, the company sold 9,600 electric vehicles in India and anticipates future growth. Additionally, it has decided to invest approximately 19.4 trillion VND to expand its production base in India.
Business impactJapanese companies need to closely monitor VinFast's entry into the Indian market and prepare for changes in the competitive landscape. In particular, a review of their product strategies and supply chains may be necessary.

Key pointsThe tourism apartment market in Vietnam has entered a stabilization phase after rapid growth in the past. Improved legal transparency is restoring investor confidence.
Business impactJapanese companies need to monitor trends in the tourism apartment market and identify investment opportunities.

Key pointsResolution No. 19-NQ/TW marks a strategic turning point defining Vietnam's new development model, with a long-term vision towards 2045 and 2130.
Business impactThis new model presents new business opportunities for Japanese companies, particularly for those aiming for sustainable growth, which must respond swiftly to policy changes.

Key pointsVietnam has expressed its intention to enhance its role as an economic bridge between Russia and ASEAN. By 2026, trade between Russia and ASEAN is expected to reach $21 billion, with Vietnam accounting for about a quarter of that. Notably, Russia's Far East region is seen as a crucial hub for access to the ASEAN market. Vietnam is planning to explore new trade and investment partnerships while promoting logistics and technological cooperation.
Business impactJapanese companies should closely monitor the progress of economic collaboration between Russia and ASEAN, particularly considering investment opportunities in the energy and high-tech sectors. It is essential to reassess strategies for entering new markets.

Key pointsOn the final day of the national holiday on September 2, 2026, commercial facilities and cafes in Ho Chi Minh City were bustling with customers enjoying shopping and dining. Many retailers launched promotions aligned with the holiday, focusing particularly on discounts for essential goods. Families and friends were seen going out together, engaging in activities that combined shopping and leisure. Retailers are preparing for the upcoming year-end shopping season.
Business impactJapanese companies need to monitor consumer trends in Ho Chi Minh City and reassess their marketing strategies for the year-end sales period. Promotions timed to coincide with the increased demand for essential goods will be particularly effective.

Key pointsThe Vietnamese embassy will showcase specialty coffee and halal products at an international trade fair in Mozambique. This initiative aims to increase connections with importers and distributors in Mozambique and surrounding regions, strengthening economic ties. Additionally, an agreement on cooperation in the education sector between Vietnam and Mozambique has been signed.
Business impactThis event presents new market development opportunities for Vietnamese companies. In particular, Japanese companies involved in the coffee business should consider entering the Mozambique market.

Key pointsIn the traditional lantern village of HCMC, artisans are diligently crafting lanterns for the Mid-Autumn Festival despite the September 2 holiday. The market is flooded with inexpensive industrial products, but artisans continue to strive to preserve traditional culture. The prices of lanterns have decreased due to competition, leading to stagnant incomes for workers.
Business impactJapanese companies can monitor trends in Vietnam's traditional handicraft market and leverage an understanding of cultural value in their marketing strategies.

Key pointsVietnam Medical Investment Company, a medical device distribution firm, is under investigation for corruption, with its Deputy Minister of Health, Tran Van Tuan, arrested for accepting bribes. Established in 2007, the company has secured numerous high-value contracts for medical equipment supply to hospitals over the past 20 years. Investigations suggest the company may have inflated medical device prices through illicit means.
Business impactThis incident highlights the importance of due diligence in partner selection and contract management for Japanese companies operating in Vietnam, emphasizing the need for transparency, especially in the healthcare sector.

Key pointsThe tax authorities in Hanoi have released a document integrating penalty regulations related to taxes and invoices. This document clarifies penalties for tax evasion and the use of fraudulent invoices, highlighting important points for businesses and sole proprietors. The penalties include fines of up to three times the evaded tax and specific cases related to the use of illegal invoices.
Business impactJapanese companies must comply with these new regulations, particularly by strengthening tax compliance and ensuring proper invoice management.

Key pointsVietnam's tourism industry is experiencing increased interest not only in natural landscapes but also in cultural experiences and new tourist destinations, indicating significant growth potential. According to Klook's Vice President CS Son, demand for travel to Vietnam on Klook is expected to rise by 72% in the first half of 2026 compared to the same period last year. New tourist spots like Ninh Binh and Sapa are gaining attention. Additionally, with ongoing infrastructure development, Phu Quoc Island is projected to have around 50,000 accommodation units by 2027, expanding the tourism ecosystem and diversifying visitor experiences.
Business impactFor Japanese companies, the growth of the tourism industry presents new business opportunities. Particularly, businesses in the hospitality and tourism services sectors need to reassess their strategies early, anticipating increased demand due to infrastructure improvements. Investing in new tourist destinations and offering region-specific experiences will enhance competitiveness.

Key pointsOn September 2, 2026, in HCMC, the fare for Metro Line 1 (Ben Thanh - Suoi Tien) will be free to celebrate National Day. The operating hours will be from 5 AM to 11 PM, with increased services in the evening for fireworks viewing. Users must present identification or generate a QR code via an app for entry. Normal operations will resume the following day.
Business impactThis fare exemption may promote local public transport use and attract tourists. Japanese companies should consider utilizing the metro as a transportation option for their employees.