Following the official launch of its app in Vietnam in April, VOVO is gradually developing its e-commerce model in a direction that places greater emphasis on discovery experiences, the level of user participation, and flexible post-transaction options.

VOVO – a differentiated integrated e-commerce application

Unlike online shopping models that mainly focus on the steps of product selection, payment, and delivery, VOVO is developing its platform in a way that extends the consumer journey. In this model, the consignment mechanism is regarded as one of the notable features, giving users additional options for handling goods after completing a transaction for certain eligible products.

According to VOVO, in addition to standard shopping functions, the platform integrates a time-limited consignment mechanism for certain suitable products. This mechanism allows users, after completing a transaction and before delivery takes place, to choose either to receive the product or to use the consignment option in accordance with the platform’s regulations.

This approach makes the shopping experience more flexible while also increasing interactivity throughout the consumer journey. Instead of stopping at purchase and delivery, users have additional options after the transaction that better suit their personal needs, thereby reducing concerns during the purchase decision-making process.

VOVO is developed on a mobile application infrastructure combined with a real-time transaction data management system. This system supports the tracking of product status, transaction history, and user operation processes, thereby contributing to greater transparency in operations and helping optimise the user experience.

VOVO e-commerce team

Some experts in the digital economy sector believe that, as e-commerce enters a stage of deeper competition centred on experience, models that combine online shopping, user interaction, and goods circulation mechanisms are gradually attracting attention in many markets. The addition of a consignment mechanism not only provides consumers with more options, but also helps expand the usage value of goods in the context of digital consumption.

VOVO is demonstrating its effort to develop a more participatory e-commerce model, in which users are not only buyers, but can also play a more proactive role in the process of experiencing, choosing, and handling products after the transaction.

VOVO receives “The Best of Vietnam 2026” award in the “Innovation & Creativity” category

Going forward, the platform said it will continue to optimise the user experience, refine its operating processes, and expand its partnership ecosystem. This is considered the foundation for VOVO to continue developing its interest-based e-commerce model in Vietnam, while also contributing a new perspective to the innovation of the online shopping experience.

Southeast Asian e-commerce market hit $157 billion in 2025 Southeast Asia’s e-commerce gross merchandise value (GMV) grew 22.8 per cent on-year in 2025 to reach $157.6 billion, as leading platforms returned to growth while continuing to improve infrastructure, fulfilment, and customer experience, according to Momentum Works.

Vietnam enters next phase of e-commerce export growth Vietnam’s fast-growing e-commerce sector is increasingly viewed as a contributor to export growth.

Over 200,000 OCOP items listed on e-commerce platforms More than 200,000 One Commune, One Product items have been labelled through the ‘Vietnam Goods Rise Up’ initiative launched on TikTok Shop in 2025.

Since early May, natural rubber prices have climbed to their highest level in nine years, fluctuating at approximately $2,200-2,300 per tonne. The trend is creating better conditions for major rubber-exporting countries in Asia, including Vietnam.

In the first four months of 2026, Vietnam’s natural rubber exports continued to expand, while selling prices improved significantly. Rising prices and stronger consumption demand have quickly translated into positive business results for many companies in the sector.

Business operations at numerous natural rubber enterprises have also shown clear improvement. At Tan Bien Rubber JSC, first-quarter revenue exceeded $20.9 million, up 135 per cent on-year, while after-tax profit reached more than $9.1 million, up 209 per cent.

The natural rubber prices are hovering at high levels in recent months

Vietnam Rubber Group currently owns around 377,797 hectares of rubber plantations. In Q1, the group recorded revenue of $353.8 million, up 56 per cent on-year, while profit surged 89 per cent to nearly $118.4 million.

The main growth driver came from stronger global rubber demand, particularly from the automotive and tyre manufacturing industries in China, the world’s largest rubber-consuming market.

Phuoc Hoa Rubber JSC also posted strong momentum in Q1, with revenue reaching $18.7 million, up 50.3 per cent on-year. Vietcombank Securities (VCBS) forecasts that Phuoc Hoa Rubber’s rubber segment revenue could reach around $69.8 million in 2026.

For Phuoc Hoa Rubber specifically, VCBS believes plantation productivity will continue to improve after the company completed the replanting of all ageing rubber trees, while many newly planted areas are entering a stable harvesting phase.

In addition, the company’s approximately 7,664 ha of rubber plantations in Cambodia are moving into the peak-yield stage of the crop cycle.

The favourable movement in rubber prices, together with expectations of stronger profit growth, has quickly attracted investor attention in the stock market.

Recently, shares of diverse rubber companies such as TRC, PHR and HRC have recorded strong gains. Notably, HRC shares hit the daily ceiling for four consecutive sessions from May 7 to 12.

Investors believe rubber stocks are entering a favourable phase, supported simultaneously by the commodity price upcycle and expectations of improving core business performance.

This marks an important distinction from previous periods, when many companies in the sector were valued mainly for their ‘land bank story’.

Phuoc Hoa Rubber has drawn considerable market attention as one of Vietnam’s largest natural rubber producers, with its land bank concentrated primarily in Binh Duong area (now part of Ho Chi Minh City).

The company plans to convert more than 3,000 ha of rubber land into industrial park developments, while also expanding into supporting sectors such as residential property, renewable energy and high-tech agriculture.

Meanwhile, shares of Tay Ninh Rubber JSC are viewed by An Binh Securities (ABS) as having positive sales volume prospects thanks to the recovery of the automotive and tyre manufacturing industries in major markets such as China and India.

The expansion of Vietnam’s electric vehicle ecosystem, particularly through cooperation between Vingroup and Vinachem to develop a materials supply chain for VinFast, could indirectly support long-term domestic rubber demand through increased local tyre production.

Beyond benefiting from the upcycle in natural rubber prices, many companies also possess a “dual-growth story,” combining expansion potential in their core businesses with the prospect of strong profits from industrial land assets.

According to VCBS forecasts, Phuoc Hoa Rubber alone could record around $28 million in profit from compensation related to rubber land conversion in 2026. Notably, the Bac Tan Uyen Industrial Park is expected to generate approximately $80-120 million in land conversion compensation for the company.

Tay Ninh Rubber also has the potential to deliver exceptional profit growth in 2026. The company plans to convert around 495 ha of rubber land at the Go Dau plantation – mainly ageing or low-yield plantations – to support the development of the Hiep Thanh Industrial Park.

The venture broke ground in December 2025. Under the plan, the 2025-2026 will focus on infrastructure deployment and completion of land-use conversion procedures, paving the way for Tay Ninh Rubber to recognise extraordinary income of around $78.4 million from land compensation and plantation liquidation.

Against the backdrop of persistently high natural rubber prices, improving harvesting and export activities, and the industrial park segment continuing to generate substantial revenue, rubber companies are considered to possess multiple supportive factors for medium- and long-term profit growth.

This partly explains why capital flows in the stock market are returning to rubber stocks after a relatively subdued trading period.

VN stocks advance on real estate, rubber firms Vietnamese shares rose on Wednesday morning, boosted by the positive moves of real estate and rubber stocks.

Insurers, stock brokers and rubber firms lift VN market Vietnamese shares gained ground on Wednesday morning, driven by insurance-finance and rubber industries.

Rubber firms report positive Q3 performance A price surge in the third quarter (Q3) has helped rubber companies to gain significant revenue and profit after years of struggling with low prices.

Prof. Dr. Andreas Stoffers, FOM University of Applied Sciences, Essen/Germany

The UAE’s withdrawal from the Organization of the Petroleum Exporting Countries (OPEC) on May 1 is merely a short-term oil market event. Rather, it reveals something far more fundamental: global energy markets are becoming more fragmented, more geopolitically sensitive and significantly more driven by national strategies and interests.

Sooner or later, the situation in the Strait of Hormuz will normalise, and the Emirates’ freedom from quota restrictions will gain in importance. Markets will then watch very closely whether and to what extent Abu Dhabi actually increases output, and whether the other producers will question the discipline of the OPEC system.

Abu Dhabi’s decision is a strategic repositioning. In future, the UAE does not want to be seen merely as an oil producer, but as an energy, industrial and investment hub with greater flexibility across several economic sectors. Thus, this withdrawal should not be understood only in terms of oil, but as a step towards strategic autonomy: the freedom to transform its own energy resources into industrial growth, global investment power and diversified national value creation. For markets worldwide, this means that there will eventually be more supply available, but at the same time, less predictability.

How will Vietnam be affected?

For Vietnam, this development is both an opportunity and a warning. If the Emirates eventually produces more outside the quota system, this could help to ease global oil prices. This would be positive for energy-importing markets. Lower oil prices reduce inflationary pressure, lower logistics and transport costs, and support household purchasing power.

This affects Vietnam directly. The country is one of the most open countries in Asia and is deeply integrated into the global economy. Vietnam’s growth model depends strongly on manufacturing, exports, logistics and global value chains. Energy prices directly affect production costs, freight costs, import prices, export competitiveness and inflation.

However, I would not be too optimistic too quickly. The larger lesson from the UAE’s exit is that energy markets are becoming increasingly unpredictable. Today, the issue is OPEC coordination. Tomorrow, it might be another maritime chokepoint, a geopolitical conflict, higher shipping insurance costs, currency pressure or a sudden disruption in supply chains. We should be aware that black swan events can occur at any time, anywhere.

For a country like Vietnam, the key issue is not whether the oil prices go up or down next week. The key issue is volatility. Volatility makes planning more difficult for companies, investors, and policymakers. It affects corporate calculation, inflation, interest rates, exchange rates and public finances.

In short: falling oil prices would, of course, be welcome for Vietnam. But the biggest issue is not today’s price level, but rather volatility. Vietnam should therefore use this period as a warning signal. The country should strengthen its own energy security, diversify its supply and accelerate the modernisation of its energy system and digital economy.

Over the past year and a half, Vietnam has already launched a wide range of reform initiatives aimed at making the economy more resilient and more productive. These include the emphasis on private sector development (Resolution 68), legislative and administrative reforms under Resolution 66, the focus on science, technology, innovation and digital transformation under Resolution 57, and the Law on the Digital Technology Industry (DTI). In this broader reform context, energy security is not separate from economic development. This strengthening of resilience plays a key role in many of these reforms.

However, it would be fatal to simply rest on these laurels and hope that the economic rise of recent years will simply continue. From my own experience in Vietnam – both in banking and in policy-related work – I would say that Vietnam is very good at reacting quickly to external shocks. This has been visible several times over the past decades. But the next stage of development requires more than fast reaction. It requires structural preparation.

Vietnam’s ambition is to become a modern industrialised country by 2045. Such an economy cannot rely solely on cheap energy. It requires a secure, diversified, affordable and predictable energy supply. This is even more important in an age of digitalisation and AI, where data centres, advanced manufacturing, including additive manufacturing and sophisticated logistics will all require a reliable electricity supply in large quantities.

Vietnam should consider three dimensions in its energy policy: security, competitiveness and transformation. Energy supply must be secure enough to protect the economy from external shocks. At the same time, it must be competitive enough to support manufacturing and exports. And it must be modern enough to support Vietnam’s long-term energy transition without weakening industrial competitiveness.

Four strategic priorities

My conclusion regarding Vietnam is that the country should adopt a pragmatic approach. Vietnam should not attempt to predict oil prices with absolute accuracy. No country can do that. Instead, Vietnam should focus on resilience. In my view, four priorities are particularly important.

First, Vietnam should diversify its energy supply and avoid excessive dependence on a single region or shipping route. The current situation vividly demonstrates how vulnerable global trade can become when one major chokepoint is disrupted.

Second, Vietnam should strengthen strategic reserves and contingency planning. This does not only concern the state, but also large companies, small- and medium-sized enterprises, logistic providers and industrial zones. The target should be better risk management for energy and transport costs.

Third, Vietnam should accelerate its domestic energy transition pragmatically. This includes renewable energy, grid investment, energy efficiency, storage capacity, and liquefied natural gas wherever appropriate. Nuclear energy could also be an option in the longer term, provided there is a clear framework of safety, financing and regulatory capacity.

Fourth, Vietnam should link its energy policy more closely with its industrial policy. This includes improving risk management for companies and public institutions that are heavily dependent on energy and logistics costs

The current oil shock should not be viewed solely in a negative light, but rather as a wake-up call. It reminds us that an industrialising country needs to work even harder on the resilience of its economy. What makes me optimistic is that Vietnam’s policymakers increasingly understand this connection. Energy security, energy transition and digital modernisation are no longer separate agendas. They belong together. For Vietnam, this could become a decisive competitive advantage in the next stage of development.

National Assembly approves zero tax on petrol, oil, aviation fuel The National Assembly has unanimously approved sweeping tax cuts on petrol, oil and aviation fuel, reducing key rates to zero through June 30 in a bid to cushion domestic markets against volatile global energy prices.

Fuel imports rise in first quarter amid global market volatility Vietnam has ramped up fuel imports in the first quarter of the year amid global energy market volatility due to the tensions in the Middle East.

BSR secures three months of crude supply for Dung Quat refinery Binh Son Refining and Petrochemical has secured enough crude oil to operate its Dung Quat refinery for the next three months amid Middle East supply disruptions.

On May 15, Hanoi’s National Innovation Centre (NIC), under the Ministry of Finance, in collaboration with Arup Ventures, hosted a forum on innovation in developing smart cities and smart factories in Vietnam.

Vo Xuan Hoai, deputy director of NIC

Experts at the event said smart cities and smart factories are no longer experimental concepts, but are becoming key drivers of the digital and green economy. While smart cities integrate data and technology to optimise urban governance, resource efficiency, quality of life and climate resilience, smart factories represent the core of next-generation manufacturing, where AI, big data, the Internet of Things (IoT), automation, and Digital Twin technologies are deeply integrated to improve productivity, product quality and participation in global value chains.

Vo Xuan Hoai, deputy director of NIC, stressed that national competitiveness is increasingly determined by a country’s ability to integrate data, connect infrastructure systems, and master core technologies – as much as by market size or natural resources.

Vietnam is facing a major opportunity to accelerate its development as many localities have begun implementing next-generation urban planning strategies, while domestic technology and industrial enterprises are gradually developing smart manufacturing complexes powered by AI, Digital Twin technologies, and advanced automation.

“Developing Vietnamese smart city and smart factory platforms will enhance governance capacity and labour productivity, while creating a foundation for Vietnam to achieve double-digit growth, strengthen technological self-reliance, and build globally competitive strategic industries,” he said.

Dao Thi Nhu from the Urban Development Agency under the Ministry of Construction shared the government’s orientation toward building a synchronised policy framework for smart urban development based on interoperable data systems and citizen-centric governance.

At the same time, Resolution No.57-NQ/TW, issued by the Politburo in 2024, sets a target for Vietnam to complete the development of smart urban systems in centrally governed cities and qualified localities by 2030 as part of the country’s broader agenda on sci-tech and digital transformation.

She noted that one of the most urgent requirements today is to transform urban planning and management from traditional administrative models to real-time, data-driven digital governance. Such an approach, she said, would help optimise infrastructure operations and improve the management of transport, energy, environmental systems and urban public services.

“Smart urban development must be closely aligned with urban planning and sustainable development goals. Urban data should serve as the core foundation, while people and businesses must remain at the centre of the development process, alongside ensuring information safety and cybersecurity,” she said.

From an international perspective, Ricky Tsui, director and head of Investment and Business Development for Asia-Pacific at Arup, shared experiences in implementing smart urban and intelligent infrastructure models across developed economies.

Tsui explained that as cities face growing pressures from population growth, environmental sustainability, and energy demand, digital technologies and real-time data systems will function as the ‘central nervous system’ of smart cities. “By continuously collecting, analysing, and processing data, these systems enable governments to monitor operations, forecast risks, and make more accurate and timely decisions in infrastructure, transportation, energy, and environmental management,” he said.

“Digital Twin technology supports infrastructure planning and operational simulations, while helping cities anticipate risks, optimise resources, and improve resilience against socioeconomic disruptions and climate change,” Tsui added.

Ricky Tsui, director and head of Investment and Business Development for Asia-Pacific

Experts at the forum also noted that Vietnam has strong potential to master core technologies in AI, cybersecurity, and IoT if supported by long-term investment strategies and a robust innovation ecosystem. As data increasingly becomes a strategic asset, ensuring cybersecurity and protecting critical infrastructure systems will be a prerequisite for future smart city models.

The forum featured in-depth presentations from leading domestic and international technology corporations on strategic solutions supporting the dual transformation of urban digitalisation and smart industrial manufacturing.

Representatives from Dassault Systèmes highlighted the role of Digital Twin technology in connecting the physical and digital worlds, enabling real-time simulations of the entire lifecycle of cities, factories, and industrial infrastructure. The company described Digital Twin as a foundational technology of the next industrial revolution, helping reduce operational costs, optimise manufacturing processes, save energy, and improve data-driven decision-making.

Tran Tuan Anh, vice president and chief product officer of FPT IS, focused on the data challenges facing Vietnam’s smart city development. “The greatest challenge is not a lack of data, but fragmented systems, limited interoperability and the absence of unified data governance platforms across sectors and government agencies,” he said.

Drawing on practical experience in deploying large-scale digital platforms, FPT proposed the concept of an ‘Urban Digital Twin’ as a next-generation governance tool capable of synchronising data related to planning, transport, construction, energy and environmental management to support real-time urban operations and decision-making.

At the same time, Doan Manh Ha, CEO of BKAV, underscored the importance of developing Vietnamese-made AI and IoT platforms to support smart urban development while safeguarding national technological security.

Under its ‘AI City’ vision, BKAV believes future cities will operate on integrated AI platforms deeply connected with sensor networks, converged data systems and intelligent connectivity infrastructure.

A panel discussion on advancing digital transformation in cities and smart factory development brought together representatives from universities, research institutes, technology firms, and international experts to discuss building innovation ecosystems for strategic technology sectors.

Participants agreed that the development of smart cities and smart factories is not solely a technological challenge, but a comprehensive restructuring of socioeconomic development models in which people, data and innovation play central roles. They also stressed the need to strengthen linkages between scientific research, workforce training, technology enterprise development and the commercialisation of Vietnamese-made solutions, while expanding international cooperation to absorb advanced knowledge and technologies and improve global competitiveness.

Partnership advances climate-smart rice value chains The Australian Centre for International Agricultural Research, the University of Queensland, and SunRice Group on March 12 announced an extension of their research partnership to advance climate-smart rice production in the Mekong Delta.

Smart factories or bust: decision time in 2026 In many Vietnamese factories, transformation does not begin with a robot arm or a fully automated line but starts with the simple realisation that the old model no longer scales.

Vietnam to increase IoT application in transport Vietnam’s construction sector will strengthen the application of the Internet of Things in smart transport in line with national digital transformation.

Minister of Finance Ngo Van Tuan highlighted these priorities at a regular government meeting on May 4, stressing the need for administrative vigilance as external shocks from global energy markets and scheduled hikes to state-managed service fees continue to weigh on domestic price stability.

Minister of Finance Ngo Van Tuan at the government meeting

According to the National Statistics Office, the Consumer Price Index (CPI) climbed to 5.46 per cent in April on an on-year basis, accelerating sharply from the 4.65 per cent recorded in March and approaching the 5.5 per cent worst-case scenario the Ministry of Finance (MoF) presented on April 23.

The primary driver is cost-push pressure from global crude oil prices, which have surged since March amid heightened geopolitical tensions in the Middle East.

“These global disruptions have not only inflated energy costs but also caused a surge in international logistics and transportation expenses, creating a cascade effect across various domestic sectors including transport services, food, and construction materials,” Minister Tuan said.

These categories account for over half of the CPI basket and recorded the sharpest rises in the first four months of 2026, with the food category up 5.2 per cent on-year and transportation climbing 11.1 per cent in April.

The government is now bracing for additional domestic price pressures, including increased electricity demand during the peak summer heat and scheduled adjustments to state-managed service fees.

Healthcare service prices are projected to rise by approximately 8.9 per cent, driven by the inclusion of management costs and a significant hike in medical staff allowances.

This adjustment alone is estimated to add around 0.28 percentage points to the national CPI. In the education sector, tuition caps for the 2026-2027 academic year are slated for an average rise of 12.7 per cent for public universities and 18 per cent for public vocational training institutions.

To mitigate these pressures, the MoF has called for a coordinated response between ministries, urging the Ministry of Industry and Trade to ensure a stable domestic energy supply through continued management of the Fuel Price Stabilisation Fund, while the Ministry of Construction provides clear guidance on adjusting construction contracts to account for material price volatility.

Each ministry is required to maintain strict market surveillance to prevent speculative hoarding and unreasonable price hikes, particularly in essential commodities such as rice, pork, and construction supplies, while localities instructed to implement market stabilisation programmes suited to their specific economic conditions.

On the growth front, the government is focusing on public investment as a key engine to achieve high growth in 2026.

Total social investment Q1 reached $29.8 billion, a 10.7 per cent rise on-year. Foreign direct investment (FDI) remains a bright spot, with registered capital in the first four months of the year estimated at $18.2 billion, a 32 per cent increase on-year, while implemented FDI rose by 9.8 per cent to $7.4 billion.

Issues persist in the deployment of state capital, however, with approximately $1.85 billion of the 2026 investment plan remaining unallocated across 14 ministries and 17 localities as of late April.

Minister Tuan mandated that these entities expedite their allocation processes and finalise regional mining plans by Q2 of this year to ensure an adequate supply of raw materials for key infrastructure projects.

As part of its forward-looking strategy, the MoF has asked all government agencies and local authorities to submit revised growth indicators this week to facilitate a comprehensive report to the central government on achieving targets for the 2026-2030 cycle.

MoF honing draft amending tax laws On April 20, the Standing Committee of the National Assembly met to discuss amending the Law on Personal Income Tax, the Law on VAT, the Law on Corporate Income Tax, and the Law on Special Consumption Tax.

Vietnam nears investment grade as reforms and growth strengthen outlook Vietnam’s sovereign credit ratings are now approaching investment grade, standing just one notch below the threshold under S&P Global Ratings and Fitch Ratings, and two notches below under Moody’s, bringing the country closer to its target of achieving investment-grade status.

ASEAN+3 policymakers assess energy and supply chain disruptions On April 28, the ASEAN+3 Policy Dialogue and Regional Economic Review was held virtually, co-chaired by the Philippines and Japan. Tran Quoc Phuong, Deputy Minister of Finance, attended and delivered remarks from Vietnam.