Vietnam Industry and Trade News Bulletin for January 27, 2026

A. POSITIVE INFORMATION

Abundant Wood Export Orders

• 2025 Performance: Despite challenges, wood and wood product exports grew positively, exceeding 17 billion USD for the first time.
• 2026 Target: The sector aims for 18-19 billion USD in export turnover.
• Current Status: Mr. Phung Quoc Man, Chairman of HAWA, stated that many member enterprises have production orders through the end of Q1/2026.
• US Market: The US temporary postponement of high tariffs on kitchen cabinets and shelves until the end of the year creates room for enterprises to maintain production and exports.
• Strategy: Achieving the target remains challenging but feasible if enterprises invest in technology, green/digital transformation, and enhance design value.

B. GENERAL ECONOMIC HIGHLIGHTS (FOR REFERENCE)

State-Owned Enterprises (SOEs) Report Trillions in Profit for 2025

Many SOEs reported record profits, exceeding their plans:

• SCIC: Revenue estimated at 13,408 billion VND (+30%), profit after tax 11,197 billion VND (128% of plan).
• Vietnam Airlines (HVN): Consolidated revenue >123,000 billion VND (+10%); profit before tax >8,450 billion VND (exceeded plan by 52%).
• Vinachem: Consolidated revenue 64,363 billion VND (+8%); profit before tax 3,859 billion VND (+73%).
• Vietnam Railways: Consolidated revenue >10,700 billion VND (+10%); consolidated profit 139 billion VND (+5.3%).
• Vicem: Profit before tax 287.3 billion VND, officially returning to profit.
• VRG (Rubber): Profit before tax 6,929 billion VND (+24%).
• Vinatex: Consolidated revenue >18,900 billion VND; consolidated profit 1,355 billion VND (+62%).
• PVN: Revenue >1.1 quadrillion VND (+10%); consolidated profit before tax 62,700 billion VND (+13%).
• PV GAS: Profit 14,500 billion VND (exceeded plan by 118%).
• BSR: Profit before tax 4,700 billion VND (6 times higher than 2024).
• PV Power: Profit before tax >2,500 billion VND (+80%).
• Viettel: Consolidated revenue 220,400 billion VND (+13.8%); profit before tax 56,800 billion VND (+5%).
• Banking (Big 4): Vietcombank profit >45,000 billion VND (historic high); VietinBank >41,000 billion VND (+37%); BIDV >36,000 billion VND.

Hanoi Attracts Talent with Support up to 1,000 Times Base Salary

• Policy: Hanoi People’s Committee proposed a Resolution to attract talent (young scientists under 47, experts, top graduates).
• Incentives:
  • One-time support: 150 – 1,000 times the base salary (highest for Professors).
  • Project Bonus: Up to 30% of profits from city-level projects or works. If profit is undefined, 5% of total project budget (max 250 times base salary).
  • Awards: Maximum 50 times base salary for national/international awards.
• Approval: Expected to be passed at the 31st session on Jan 27.

India and EU Complete Landmark Trade Deal Negotiations

• Context: India and EU finalized FTA negotiations, a historic move amid tensions with the US.
• Significance: Opens free trade for goods between the 27-nation bloc and India (market of 2 billion people).
• Details: India plans to reduce import tax on EU cars from 110% to 40%. Sensitive agriculture/dairy issues were excluded.
• Timeline: Legal review takes 5-6 months; signing expected this year, effective early next year.

US Increases Tariffs to 25% on Imports from South Korea

• Announcement: On Jan 26, President Donald Trump announced a tariff hike on South Korean cars, pharmaceuticals, and lumber from 15% to 25%.
• Reason: Delayed approval by the South Korean National Assembly of the bilateral trade agreement reached last summer.

C. ENERGY

9 European Nations Commit 1 Trillion Euro to North Sea Offshore Wind

• Event: On Jan 26 in Hamburg, 9 nations (Belgium, France, Netherlands, Germany, Luxembourg, Denmark, Norway, Ireland, UK) signed an investment pact.
• Goal: 300 GW offshore wind by 2050. Current installation is only 37 GW.
• Commitment: Install 15 GW/year from 2031-2040.
• Impact: Expected to create 91,000 jobs, lower electricity prices (from 100 to 70 Euro/MWh), and attract 1 trillion Euro in investment.

EU Officially Approves Roadmap to End Russian Gas Imports by 2027

• Decision: The EU Council approved regulations to stop importing Russian gas (both pipeline and LNG) by 2027.
• Timeline:
  • LNG: Stop by early 2027.
  • Pipeline: Stop by Autumn 2027.
• Mechanism: Restrictions apply 6 weeks after regulation takes effect, with a transition period for existing contracts.

Amending Electricity Law: Ensuring Decentralization

• Statement: Deputy Minister Nguyen Hoang Long emphasized that the amended Electricity Law (No. 61/2024/QH15) must ensure consistency, decentralization, and remove bottlenecks for citizens and businesses.
• Basis: Implementing Politburo Resolution No. 70-NQ/TW on energy security.

D. IMPORT – EXPORT

Export 2026: Enterprises Proactive Against Adverse Developments

• Forecast: MoIT projects 2026 export turnover to grow over 8% (>500 billion USD); trade surplus >23 billion USD (+15%).
• Challenges: Global volatility, protectionist policies, green standards, and supply chain disruptions.
• Strategy:
  • MoIT: Perfect institutions, negotiate new FTAs, and upgrade existing ones (especially with the US).
  • Enterprises: Diversify markets, increase deep processing/high-tech content, and boost localization rates.

Russia’s Gold Exports to China Hit Record High

• Data: In 2025, gold exports from Russia to China increased nearly 15 times, reaching 3.29 billion USD (25.3 tons – up 9 times).
• Rank: Russia moved into the top 10 gold suppliers to China (ranked 7th).
• Top Suppliers: Switzerland ($25.73B), Canada ($11.06B), South Africa ($9.42B).

E. DOMESTIC MARKET

Live Hog Prices Remain High Near Tet

• Trend: On Jan 27, 2026, prices remained high nationwide (avg 73,000 – 80,000 VND/kg).
• North: Highest prices, reaching 80,000 VND/kg in Hai Phong and Hung Yen.
• Central – Highlands: 75,000 – 78,000 VND/kg (Thanh Hoa, Nghe An highest).
• South: 73,000 – 76,000 VND/kg (Dong Nai, HCMC, Dong Thap highest).