Ministry of Industry and Trade Responds to High Electricity Rates for Data Centers

Key pointsViettel and CMC have filed a complaint with the Ministry of Industry and Trade regarding EVN's application of commercial electricity rates to data centers. EVN explained that while production electricity rates are applied in other regions, different rates are applied in specific areas. The operating costs for data centers have increased by over 50%, which could severely impact the country's digital infrastructure.
Business impactJapanese companies may face challenges in maintaining IT infrastructure due to rising operating costs for data centers. It is essential to reassess strategies for cost management and ensuring stable electricity supply.

Key pointsAt the New York Stock Exchange (NYSE), a message celebrating Vietnam's upgrade from frontier to emerging market was displayed alongside the red star flag. This event symbolizes the enhancement of Vietnam's position in the international capital market, with NYSE's Alex Hong praising the efforts of the Vietnamese people, government, and businesses. Vietnam is expected to strengthen its connections with international markets and expand opportunities for capital inflow.
Business impactJapanese companies should monitor this development and assess its impact on relevant transactions, contracts, and local operations.

Key pointsThe Federal Reserve's announcement of a rate hike is expected to have a limited impact on the Vietnam stock market. The market had already priced in this decision, particularly influenced by the market upgrade event on September 21. Historical data shows that the VN-Index tends to decline before the Fed's rate hike announcement but stabilizes afterward. Experts indicate that future market trends will depend on domestic interest rates and currency movements.
Business impactJapanese companies are unlikely to be directly affected by the Fed's policy changes, but they should pay attention to domestic interest rate trends. This is particularly important as it may impact funding and investment plans, so the finance department should closely monitor future developments.

Key pointsSince Siam Brothers Vietnam went public in 2016, there have been no new listings of FDI companies on Vietnam's securities market. FDI companies account for only about 0.15% of total capital, facing barriers such as obligations tied to government incentives and the demand for high transparency in management. The decision for FDI companies to go public depends on their growth strategies and market approaches.
Business impactJapanese companies need to understand the reasons behind the lack of FDI company listings and reassess their investment strategies. It is particularly important to strengthen collaboration with companies aiming for public listing.

Key pointsFTSE Russell has expressed support for Vietnam's capital market, with Vanguard funds set to start incorporating Vietnamese stocks from September 21. This is anticipated to lead to capital inflows as Vietnam is upgraded to the FTSE secondary emerging market. The upgrade is expected to enhance Vietnam's international economic standing and attract passive investment. This could increase foreign investor interest and promote investment in the Vietnamese market.
Business impactFor Japanese companies, the upgrade of the capital market is likely to improve the stability of the business environment. Many Japanese firms are building supply chains in Vietnam, particularly in manufacturing, and an increase in investment opportunities is expected. Improved transparency in the securities market may facilitate investments in Vietnamese stocks by Japanese institutional and individual investors.

Key pointsThe 'Urban Development Law' effective from October 1, 2026, will open new development spaces in Ho Chi Minh City. SATRA intends to strengthen its efforts to promote economic growth and drive innovation in response to this legal change.
Business impactThis legal amendment could significantly impact SATRA's business strategy, and Japanese companies need to closely monitor regulatory trends to identify new business opportunities.

Key pointsA new development space will open in Ho Chi Minh City due to the Urban Development Law No. 18, effective from October 1, 2026. The Saigon Trading Corporation (SATRA) is required to reassess its investment, management, and resource utilization methods, alongside expanding its authority and preferential policies. This is expected to enable SATRA to play a more strategic role.
Business impactFor Japanese companies, collaborating with SATRA and formulating new investment strategies will be crucial to leverage the new development opportunities in Ho Chi Minh City. It is particularly important to consider participation in urban development-related projects.

Key pointsDespite the Federal Reserve's decision to raise interest rates, Vietnam's stock market VN-Index rose by 13 points, closing above 1820. This movement indicates the resilience of the Vietnamese economy and serves as an important signal for foreign investors. Notably, expectations regarding domestic demand and corporate performance may have mitigated macroeconomic headwinds.
Business impactFor Japanese companies, the stability of the stock market directly impacts the funding environment and the predictability of business plans. Companies with manufacturing bases in Vietnam need to closely monitor stock market trends to ensure a stable business environment.

Key pointsFollowing the Federal Reserve's decision to raise rates by 0.25 points, Vietnam's stock market experienced a significant surge. Notably, the trading volume of securities stocks increased by 50% compared to the previous day, reaffirming confidence in the Vietnamese economy. This movement is believed to be supported by domestic economic growth and the stability of the dong exchange rate.
Business impactFor Japanese companies, the resilience of the Vietnamese stock market is a crucial indicator of the stability of the local business environment. The increase in securities trading volume suggests a recovery in investor risk tolerance, which will influence future investment strategies.

Key pointsMajor international investment firms such as BlackRock and Vanguard will participate in a meeting on September 18 regarding the upgrade of the Vietnam market by FTSE Russell. The Vietnamese securities market is set to be upgraded to emerging market status on September 21, which is expected to attract international capital inflows. The meeting will also discuss improvements to the legal framework and trading infrastructure.
Business impactJapanese companies need to closely monitor the trends of international investment institutions and maximize opportunities for capital inflows. Particularly, efforts to maintain market standards post-upgrade will be essential, making strategies aimed at enhancing transparency and liquidity crucial.

Key pointsAmong the 27 stocks included in FTSE All-Cap, HPG is held by 69 investment funds, making it the most supported stock. FPT follows with 62 funds holding it, and it has the highest ownership ratio at 5.44%. This indicates a growing international interest in Vietnamese stocks.
Business impactJapanese companies should closely monitor the trends of Vietnamese stocks in FTSE All-Cap, particularly considering investment opportunities in popular stocks like HPG and FPT. Understanding the trends of international investment funds will enable strategic investment decisions.

Key pointsSamsung is expanding its investment in Vietnam, aiming to increase manufacturing scale while also focusing on industrial support, talent development, and innovation promotion. By the end of 2025, the total investment in Vietnam is expected to exceed $24 billion, with the company operating six manufacturing plants and one research and development center. Samsung is strengthening collaboration with domestic companies and contributing to Vietnam's economic growth through industrial support. Additionally, it is launching educational programs for youth to enhance the development of technicians.
Business impactSamsung's expanded investment presents new business opportunities for Japanese companies. In particular, initiatives related to supply chain enhancement and talent development will serve as important references for related enterprises. Future collaboration with Samsung is expected to enhance competitiveness.