Global gold prices soar, oil surges. Vietnam’s National Assembly has approved a billion-dollar railway project, expected to boost investment, trade, and administrative reform.
I. DOMESTIC POLITICS & ECONOMY
1. National Assembly Approves Investment Resolution for Lao Cai – Hanoi – Hai Phong Railway
The National Assembly has officially approved a high-speed railway project connecting Lao Cai, Hanoi, and Hai Phong, with an estimated investment of hundreds of trillions of VND. This railway is expected to link economic hubs, reduce road traffic congestion, and promote trade with China and ASEAN countries.
2. Parliament Expands Economic & Social Development Plan for 2025
During the latest session, the National Assembly passed the 2025 economic and social development plan, setting a GDP growth target of 8%. The focus will be on technology, processing industries, and high-tech agriculture.
3. Prime Minister Calls for Accelerated Public Investment Disbursement
The Prime Minister emphasized the importance of expediting public investment disbursement to stimulate the economy. He urged ministries and sectors to implement specific measures to ensure key projects proceed as planned.
4. Vietnam Approves Plan to Streamline State Apparatus
The government has approved an administrative reform plan to streamline state agencies and enhance operational efficiency. The initiative includes merging several departments to reduce bureaucracy while incorporating digital technology into administrative management.
II. ECONOMY, FINANCE & MARKETS
1. Global Gold Prices Surge
Amid global economic uncertainties, gold prices have soared past $2,000 per ounce. Investors are turning to gold as a safe-haven asset in response to recession risks.
2. Crude Oil Prices Continue to Rise Due to Supply Disruptions
Geopolitical instability in the Middle East and new sanctions on Russia have driven crude oil prices higher. This could impact global production costs and consumer spending, including in Vietnam.
3. Steel Prices Climb Amid Chinese Economic Stimulus Expectations
Global steel prices have significantly increased following reports that China will introduce new economic stimulus packages. This may influence Vietnam’s construction and export industries.
4. USD Exchange Rate Recovers to 107
The USD Index has returned to 107 as the U.S. Federal Reserve maintains a tight monetary policy. This fluctuation could affect the VND/USD exchange rate, impacting import and export businesses in Vietnam.
III. MILITARY & INTERNATIONAL TECHNOLOGY
1. India Plans to Acquire 1,000 New Helicopters
The Indian government is planning to invest billions of dollars in acquiring 1,000 new helicopters to strengthen its air force. This move is seen as part of India’s broader military expansion strategy amid regional tensions.
2. Estonia Unveils Hybrid-Powered Combat Robot
Estonia has introduced a new hybrid-powered combat robot capable of prolonged battlefield operations and supporting troops in high-risk missions. This marks a significant advancement in Europe’s military technology sector.
3. Elon Musk Uncovers 20 Million ‘Centenarians’ Receiving U.S. Benefits
Elon Musk has revealed that nearly 20 million individuals aged 100-159 are listed in the U.S. Social Security system, despite official records showing only around 86,000 centenarians. A 2023 audit found that 18.4 million of these individuals had no financial transactions in the past 50 years, raising concerns over fraud and mismanagement in the public welfare system. The case has sparked fears of budget losses and the urgent need for data system reforms in the U.S.
The National Assembly’s approval of the high-speed railway project marks a crucial step in economic development. Meanwhile, gold, crude oil, and USD fluctuations are shaping financial markets. Countries are ramping up military investments and defense technology. These trends will have significant implications for Vietnam’s economy and policies in the near future.
