OECD Upgrades Global Economic Outlook, Impact on Vietnam Economy

Key pointsThe OECD has upgraded its global economic growth forecast and issued warnings about persistent high inflation and rising bond yields. This highlights the risks faced by Vietnam's export-driven economy, prompting investors to pay close attention to future developments. In particular, concerns are growing about the impact of financial market volatility on the Vietnamese economy.
Business impactGiven Vietnam's reliance on exports, the OECD's outlook serves as an important indicator for Japanese companies. Specifically, fluctuations in financial markets could affect component procurement and currency risks, necessitating management to closely monitor future policy trends.

Key pointsAustralia is considering an extension of the anti-dumping duty on zinc-coated steel from Vietnam, India, and Malaysia. This duty has been in effect since August 2017 and was extended for five years in 2022. The current duty is set to expire on August 16, 2027, but BlueScope is requesting an extension. Australian investigations suggest that lifting the duty could impact the market with Vietnamese products.
Business impactJapanese companies need to reassess their export strategies to the Australian market and prepare for potential changes in tax regulations.

Key pointsThe tax authority reported that 1,590 VAT refund applications are currently being processed, with delays primarily due to taxpayers not preparing the necessary documents. In particular, Vina Kyoei has had an unresolved application since January. The tax authority is notifying applicants of their progress and urging them to prepare the required documents.
Business impactDelays in VAT refunds directly impact corporate cash flow, prompting Japanese companies to strengthen communication with the tax authority and expedite the preparation of necessary documents.

Key pointsTET Corporation has decided to shift from the sewing industry to real estate after increasing its capital by 11 times. The company will cease production at its factory on Lac Trung Street in Hanoi to launch a new luxury residential project called 'Pricety Lac Trung'. Established in 1957, TET Corporation has operated in the sewing industry for many years but will now focus on real estate development.
Business impactThis business transition indicates a shift from manufacturing to real estate in Vietnam, suggesting that Japanese companies need to reassess their strategies in response to market changes.

Key pointsThe State Bank of Vietnam (NHNN) has announced a draft of new monitoring regulations related to anti-money laundering. This draft includes monitoring of bank directors, major shareholders, and VIP clients, requiring oversight based on organizational structure, management models, and risk assessments. Notably, foreign shareholders and clients will be required to provide information, enhancing the monitoring system according to risk levels.
Business impactJapanese companies need to comply with the new regulations for anti-money laundering. In particular, the financial sector should strengthen customer information management and risk assessment.

Key pointsOn September 23, 2026, Vietnam's Ministry of Science and Technology granted permission to Amazon Kuiper, a US company, to establish a satellite communication network. This network is intended for testing devices and quality assessment within Vietnam. Amazon Kuiper aims to provide high-speed internet connectivity using over 3,200 low Earth orbit satellites.
Business impactThis authorization will promote the development of Vietnam's communication infrastructure and offer new business opportunities for Japanese companies. In particular, companies in the telecommunications sector will need to pay attention to future market trends and consider strategic partnerships.