Vietnam's Motorcycle Market Shifts to Multi-Technology Competition

The one-millionth vehicle, a red Feliz II, rolled off the production line at VinFast’s electric automobile and motorcycle manufacturing complex in the northern port city of Hai Phong. The company said the broader footprint would improve access to electric vehicles and support the country's transition toward cleaner transport. According to the firm, total motorcycle sales reached 169,976 units in May, down 3.9% year-on-year. Meanwhile, automobile sales rose 26% from the same period last year to 1,870 units. Despite headwinds from Middle East tensions that have pushed up freight and logistics costs, exports of wood and wood products were estimated at 1.53 billion USD in June, lifting first-half export turnover to 8.54 billion USD, up 4.4% from a year earlier, according to the Ministry of Agriculture and Environment (MAE). Despite the encouraging performance, Vietnam's exports remain heavily dependent on a limited number of major markets and product groups, while the domestic value added of many export products remains relatively low because of their reliance on imported raw materials and components. Speaking at the at the city's regular socio-economic press briefing on July 9, Deputy Head of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) Tran Viet Ha said that foreign direct investment (FDI) accounted for nearly 1.6 billion USD of the total, including 65 newly licensed projects worth more than 867 million USD and 83 existing projects that added over 707 million USD in registered capital. With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,475 VND/USD, and the floor rate 23,953 VND/USD. ​ The initiative marks a shift from traditional investment promotion toward a digital ecosystem that standardises information and provides transparent connections with investors worldwide. Textile and seafood exporters are struggling to retain enough workers to meet recovering export demand, underscoring a shift in constraints from demand to workforce capacity. National flag carrier Vietnam Airlines will increase frequencies on several routes to Japan, the Republic of Korea (RoK) and Taiwan (China) to meet rising demand for tourism, business and family visits between Vietnam and Northeast Asia. Israeli businesses and experts introduced a wide range of technologies and solutions for sustainable agricultural development, including smart irrigation systems, greenhouse technologies, crop varieties, microbial technologies, post-harvest solutions, aquaculture technologies, and digital transformation in agriculture. The maximum retail price of E5RON92 was set at 19,191 VND (0.73 USD) per litre, down 539 VND from the previous ceiling and 812 VND lower than E10RON95-III. The latter was capped at 20,003 VND per litre, a decrease of 412 VND. The recognition marks a significant milestone for Vietnam’s maritime industry as it advances the development of smart, green ports and sustainable logistics. Singapore-based United Overseas Bank (UOB) has sharply raised its forecast for Vietnam's 2026 GDP growth to 8.5%, more than reversing the previous downgrade to 7%, citing stronger-than-expected first-half economic performance driven by manufacturing, investment and foreign direct investment (FDI). PM Le Minh Hung said the fulfilment of the capital disbursement target should become a key criterion in evaluating the performance of ministries, sectors and local authorities. Da Nang is pursuing a next-generation IFC focused on innovation, fintech and sustainable finance, concentrating on high-value segments rather than a traditional fully integrated financial-centre model. Instead of concentrating mainly on attracting foreign capital, Resolution No. 10-NQ/TW emphasises building a foreign-invested sector that is closely integrated with the domestic sector to create new growth drivers for the country. Vietnam is projected to remain the fastest-growing economy in Southeast Asia, with the Asian Development Bank (ADB) maintaining its growth forecasts of 7.2% for 2026 and 7.0% for 2027 in its Asian Development Outlook (ADO) July 2026 released on July 8. Vietnam currently has about 17,400 OCOP products rated three stars or above. The figure is set to increase to around 25,000 by 2030, with greater emphasis on improving quality, adding value and enhancing competitiveness rather than simply expanding the number of products. Vietnam currently has 130,571 rental housing units under construction. A review of national rental housing demand will be completed before the construction ministry assigns specific targets to provincial governments. India remained the largest supplier, with the value reaching 63.2 million USD, representing around 52% of Vietnam's total diamond imports. Speaking at the opening ceremony at Staybridge Suites London-Vauxhall in Lambeth, Vietnamese Ambassador to the UK Do Minh Hung said bilateral ties have developed strongly in recent years, culminating in the establishment of a Comprehensive Strategic Partnership during Party General Secretary To Lam’s official visit to the UK in October last year. The meetings with AFD and EDF were seen as an important step in deepening ties between Quang Ngai and French partners as the province enters a new phase of development. Through broader international cooperation, Quang Ngai aims to attract more capital, technology, management expertise and training resources to advance green industry, clean energy and sustainable infrastructure, strengthen competitiveness and move toward becoming a major industrial, energy and logistics hub in central Vietnam and the country. Copyright, VietnamPlus, Vietnam News Agency (VNA) Editor-in-chief, Mr. Tran Tien Duan.