HCMC Faces Flooding Season Again

Key pointsHCMC is experiencing flooding in many areas due to consecutive heavy rains. The risk of flooding is increasing, especially with the upcoming combination of high tides and heavy rainfall. This has significantly impacted transportation, with new flooding points identified, particularly at the An Phu intersection.
Business impactJapanese companies need to monitor the situation of transportation infrastructure to avoid business interruptions caused by flooding and should review alternative routes and business continuity plans as necessary.

Japanese business summary. Read the original source for the source language.

Key points2026年9月22日、Sun GroupとPetrolimex、NCBは、エネルギー、金融、観光などの分野で戦略的提携を結びました。この提携は、APEC 2027に向けた連携を強化するものです。
Business impact日本企業は本件の動向を注視し、関連する取引・契約・現地実務への影響を確認しておくとよいでしょう。

Key pointsDGT, a transportation construction company, is set to hold an extraordinary shareholders meeting in October 2026 to address the handling of expired bonds, the integration of subsidiaries, and the approval of large stock transactions by major shareholders. The bonds were issued in 2022 with an initial maturity of 24 months, but payments are currently overdue. The meeting is expected to discuss the methods for handling the bonds and plans for new fundraising.
Business impactJapanese companies should closely monitor this situation and assess its potential impact on related transactions, contracts, and local operations.

Key pointsCapital is moving within the Asia-Pacific region, creating new demand in Vietnam's real estate market, particularly in manufacturing, logistics, technology, and infrastructure. By the first half of 2026, FDI is expected to reach approximately $34.65 billion, a 61% increase compared to the same period last year. Manufacturing and logistics are the main drivers of real estate demand.
Business impactThis trend presents new investment opportunities for Japanese companies, emphasizing the importance of focusing on manufacturing and logistics-related projects. Rapidly responding to market changes can enhance competitiveness.

Key pointsBlue Moon Metals is gaining attention in the U.S. tungsten supply chain. The Springer Complex has mining and infrastructure but requires an investment of approximately $150 million and several years for reopening. Meanwhile, Masan High-Tech Materials has established a complete tungsten resource processing chain in Vietnam.
Business impactThis case highlights the importance of investment in the tungsten supply chain. Japanese companies need to focus not only on securing resources but also on enhancing processing capabilities.

Key pointsU.S. semiconductor giant AMD has reached a market capitalization of $1 trillion (approximately 155 trillion yen), driven by rising demand for AI-related semiconductors. This development is drawing attention to how it will affect Vietnam's semiconductor industry and investments. Vietnam aims to attract foreign semiconductor companies and enhance its manufacturing capabilities. The future trends in the semiconductor supply chain will significantly impact the Vietnamese economy.
Business impactJapanese companies need to seize investment opportunities in Vietnam's semiconductor-related industries. Particularly, electronics and IT-related firms are likely to benefit from the ripple effects of AMD's growth, making it crucial to monitor future developments.

Key pointsThe Nasdaq index has reached a record high in the US stock market, and the decline in US Treasury yields is increasing expectations for capital inflows into emerging markets. This is expected to have a positive impact on Vietnam's economy, particularly regarding the movements of foreign investors. A sharp drop in oil prices may also contribute to inflation control.
Business impactFor Japanese companies, the decrease in US interest rates may lead to reduced financing costs, potentially affecting investments in supply chain expansion. The financial and real estate sectors are particularly sensitive to trends in the US market, necessitating caution.

Key pointsBy mid-September 2026, Vietnam recorded a trade deficit of $23.5 billion, a significant shift from the trade surplus of the previous year. The main imports are machinery and parts for production, and experts indicate that this increase in trade deficit puts pressure on exchange rates, interest rates, and the quality of growth. Notably, FDI companies maintain a surplus of about $8.7 billion, while domestic companies face a deficit of $32.2 billion, revealing a change in the structure of the trade balance.
Business impactThe expansion of the trade deficit is likely to affect exchange rates and interest rates, with an increased risk of rising funding costs as the year-end approaches. Japanese companies need to reassess their funding plans and exchange rate risk management.

Key pointsOn September 21, 2024, international gold prices fell, influenced by expectations of prolonged high interest rates from the U.S. Federal Reserve. This has affected the Vietnamese dong exchange rate and domestic gold prices, drawing attention to investor behavior. Notably, SPDR Gold Trust's selling of gold indicates changes in the gold market. Fluctuations in gold prices also impact the daily lives of Vietnamese people, as gold ownership remains strong in marriage and real estate transactions. The decline in gold prices may affect gold-related stocks such as SJC and PNJ.
Business impactFor Japanese companies, stability in the dong exchange rate is a prerequisite for business planning. Fluctuations in gold prices and U.S. interest rates affect exchange rates, necessitating a review of procurement costs for manufacturing and apparel-related companies. Investment decisions must consider exchange rate risks.

Key pointsDeputy Prime Minister Ho Quoc Dung stated that logistics is a crucial part of the national economic infrastructure and influences overall economic competitiveness. The reduction of logistics costs may affect future investment decisions, and the government has clarified its intention to make logistics a pillar of national strategy. Vietnam's logistics costs are higher compared to other emerging countries, which is seen as a factor undermining the competitiveness of export companies. In the future, stocks related to ports and industrial zones are expected to attract attention.
Business impactFor Japanese companies, improvements in logistics infrastructure will directly enhance supply chain efficiency. Companies with manufacturing bases in Vietnam will need to reassess their cost structures due to advancements in logistics reform, making it important to monitor related information.

Key pointsR3 Lithium CEO Lynn Austin has recognized the growth of Vietnam's electric vehicle market and expressed interest in establishing a production and recycling ecosystem for electric vehicles. He indicated a willingness to explore partnership opportunities as Vietnam aims for net zero by 2050.
Business impactJapanese companies should pay attention to the growth of Vietnam's electric vehicle market and seek new business opportunities through collaboration with R3 Lithium. Investment in electric vehicle-related technologies and recycling of resources is particularly important.

Key pointsHo Chi Minh City is proposing regulations to cut electricity and water supply to facilities that violate construction, land, fire safety, and environmental regulations. This proposal is based on the Urban Development Law set to take effect in 2026 and will apply if there is non-compliance with corrective demands from administrative agencies, particularly for serious violations of fire safety and environmental protection laws. This is expected to facilitate the rapid identification and resolution of illegal constructions.
Business impactIf this regulation is enacted, Japanese companies will need to strengthen compliance in their construction projects. There will be a heightened need for awareness regarding construction permits and environmental regulations to prevent violations.