PetroVietnam Plans to Increase Oil Reserves by 75.7 Million Tons

Key pointsIn September 2026, exports reached $59.48 billion, marking a record high. This exceeded imports by $1.27 billion, ending a nine-month trade deficit. However, the cumulative deficit over nine months remains at $19.42 billion, contrasting with a $16.9 billion surplus in the same period last year. Exports increased by 39% year-on-year, with electronic equipment exports making a significant contribution.
Business impactThis shift in trade balance is a crucial indicator for Japanese companies. Particularly, firms in the electronics sector can anticipate future export opportunities, although there are ongoing concerns about high import dependency. Companies need to reassess their raw material procurement strategies.

Key pointsPetroVietnam has announced plans to increase its oil reserves by 75.7 million tons between 2021 and 2025. From 2026 to 2030, the company aims to promote exploration and extraction activities and connect small oil fields to existing infrastructure. Policies to improve oil recovery rates are also expected to be introduced.
Business impactJapanese companies should strengthen collaboration with PetroVietnam and explore opportunities for technology provision and joint development, particularly in the oil and gas sector.

Key pointsOn October 3, 2026, Nguyen Thien Thanh announced his resignation from the Vietnam Education Publishing House to pursue a career in literary magazines. He stated that his work at the publishing house had become a 'pressure' for him, and he wishes to engage in the literary field.
Business impactPersonnel changes in the education sector may impact the management strategies and policies of publishers and educational institutions. Particularly, changes in leadership are crucial as competition intensifies in the education market.

Key pointsOn October 3, 2026, Da Nang City held a ceremony to restart the Golden Hills Eco-City Project, alongside the commencement of a new kindergarten construction. The government has introduced special policies to resolve long-standing project delays and is intensifying efforts to address over 5,000 unresolved projects.
Business impactThe restart of this project will invigorate the real estate market in Da Nang City and provide new investment opportunities for Japanese companies. Companies involved in real estate development and related services need to closely monitor the project's progress and assess the timing for market entry.

Key pointsStarting November 16, 2026, customs procedures for international express delivery will be revised to require electronic identification and verification. This will necessitate the preparation of declaration information and cooperation with shippers. Customs is advancing digitalization and strengthening risk management.
Business impactJapanese companies will need to gather information on the new procedures and review their internal operational flows, as the processes for using express delivery services will change.

Key pointsOn September 29, 2026, EHang and Joby Aviation made significant moves regarding the testing of electric vertical takeoff and landing (eVTOL) aircraft in Vietnam. EHang signed a memorandum to test its unmanned electric vehicle EH216-S in Hanoi, with preparations starting in October 2026. Meanwhile, Joby Aviation is considering establishing a production facility in Da Nang. Both companies view Vietnam as a new market and are exploring commercial models for intercity transport and tourism, potentially positioning Vietnam as a hub for a new aviation industry.
Business impactFor Japanese companies, the introduction of eVTOL presents new business opportunities. Particularly in logistics and tourism, leveraging these technologies is expected to enhance competitiveness. Attention to future developments and strategic considerations in related sectors is essential.

Key pointsA forum on economy, trade, and investment between Vietnam and South Africa was held in Cape Town, providing opportunities to strengthen collaboration between companies from both countries and expand market access. Under their strategic partnership, specific cooperation possibilities are being explored.
Business impactFor Japanese companies, entering the South African market presents new business opportunities. There is a need to reassess strategies aimed at expanding trade and investment.

Key pointsOn October 3, 2026, the euro hit a 17-month low while the yen sharply declined, and the dollar reached its highest level in a year and a half. This movement is influenced by changes in the U.S. bond market and interest rate outlook. The strong dollar and weak yen may affect the dong exchange rate in Vietnam and could influence investment decisions, particularly impacting import costs and corporate profits.
Business impactJapanese companies need to carefully consider the impact of exchange rate fluctuations on their business costs and profits. Companies with significant dollar-denominated transactions are required to reassess their strategies for managing exchange rate risks.