Vietnam Cuts Retail Fuel Prices Amid Mixed Economic Signals

Vietnam's July CPI increased 3.08% from December 2025 and 4.45% year-on-year. Average CPI in the first seven months rose 4.39% year-on-year, while core inflation increased 4.19%. The ministry has taken steps to immediately inspect locations reporting shortages and identify the cause. Localities where shortages are taking place must examine the entire supply chain, including contracts between retailers and wholesalers, actual supply volumes, delivery schedules and the reasons for any failure to provide fuel. E5RON92 petrol rose by 635 VND to a maximum of 19,826 VND (0.76 USD) per litre, while E10RON95-III went up 547 VND to 20,550 VND per litre. NAPAS, Weixin Pay, and BIDV will study the rollout of the reverse payment service, enabling users of Vietnamese banking applications and e-wallets to make QR code payments in China, with the aim of completing a comprehensive cross-border payment ecosystem between the two countries. The Vietfood & Beverage – ProPack Vietnam 2026 features more than 1,400 booths showcasing thousands of domestic and international brands from countries and territories including India, Poland, the Republic of Korea, Malaysia, Russia, Japan, Thailand, China and Vietnam. During the first seven months of 2026, Vietnam attracted more than 38 billion USD in registered FDI, up nearly 58% year-on-year. More importantly, the increase was driven by large-scale, high-tech projects rather than a surge in the number of new investments, signalling a significant improvement in the quality of capital inflows. Vietnam's wood industry has grown rapidly in recent years, with exports reaching 17.2 billion USD in 2025. Wood and wood products are now shipped to more than 140 countries and territories, making Vietnam an important processing hub in the global supply chain, with key markets such as the US, Japan, China, the European Union and the Republic of Korea. Vietnam's total import-export turnover climbed 28.1% year-on-year to 659.58 billion USD during the January–July period. Exports were valued at 319.53 billion USD, up 21.7%, while imports rose 34.8% to 340.05 billion USD. The country's agro-forestry-aquatic product exports reached nearly 42.8 billion USD in the January–July period, up 7.5% year-on-year and equivalent to almost 60% of the annual target of 74 billion USD. According to the Ministry of Construction, Vietnam has around 2,500 old apartment blocks and collective housing complexes built before 1994, covering about 3 million square metres of floor space, mainly in Hanoi and Ho Chi Minh City. Of these, around 196 have been classified as severely deteriorated and unsafe. With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,705 VND/USD, and the floor rate 24,161 VND/USD. The 12.2ha Terminal 1 of the Da Nang International Airport, which was built at a cost of 1.34 trillion VND (51 million USD), has been overloaded since its inauguration in 2011. With the new planned area, increasing demand for passenger and cargo services will be met within the next few years. Completing the legal framework for the corporate bond market plays an important role in balancing stronger market discipline and transparency with the need to facilitate legitimate and effective fundraising activities of businesses, according to Nguyen Hoang Duong, Vice Chairman of the State Securities Commission. The northern province of Quang Ninh pulled in more than 1.095 billion USD in foreign direct investment (FDI) during January-July, eclipsing its full-year target and cementing its reputation as a safe, attractive and reliable destination for global capital. Manufacturing and engineering posted the strongest recruitment growth, with hiring demand surging 70% year-on-year, driven by production expansion, supply chain restructuring and sustained investment inflows in high-tech manufacturing. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood exports reached nearly 1.02 billion USD in July, up 4.8% year-on-year. The figure in the first seven months of 2026 hit nearly 6.78 billion USD, an increase of 11.5% compared to the same period last year. The Petrovietnam Refining and Petrochemical Corporation (BSR) on August 5 inaugurated the construction of an additional crude oil storage tank for its Dung Quat Oil Refinery, raising the refinery's total crude oil storage capacity by 12.5% to 585,000cu.m. By translating Resolution No. 10-NQ/TW into concrete programmes and actions, Hanoi is laying a solid foundation to attract high-quality FDI, turning foreign investment not only into an economic resource but also a catalyst for innovation, productivity growth and faster, greener and more sustainable development. Infobae reported on August 4 that the Republic of Korea's LG group has expanded its advanced materials production in Vietnam by launching a new production line in the northern port city of Hai Phong. The European Union’s (EU) Steel Regulation introduces a “melt and pour” traceability rule, forcing importers to declare the country where steel was originally melted and cast, not just where final processing took place. According to a notice issued on August 4, FAS invites US universities, agricultural trade associations, and non-profit organisations to apply for this technical assistance funding to evaluate crop yields and reductions in nitrogen leaching in the US and Vietnam using US manufactured biofertilsers such as liquid fish fertiliser. More than 470 tonnes of rice grown in Cuba from Vietnam's OM5451 variety were handed over to Cuban partner GRANMAX at a ceremony in Havana on August 4, marking the first harvest delivered by Vietnamese agricultural company TBAgri under a joint Vietnam–Cuba rice production project. Discussions focused on French market demand, the development of products tailored to consumer preferences, the enhancement of business linkages, the improvement of tourism offerings' quality, and practical cooperation models. Copyright, VietnamPlus, Vietnam News Agency (VNA) Editor-in-chief, Mr. Tran Tien Duan.