🇻🇳 Parades, pork, and crypto

Good afternoon from Ho Chi Minh City - where the coffee is still strong, the sun keeps shining, and business moves faster than a motorbike through rush hour traffic. Hope the week has treated you well.

Welcome back to Bánh Mì Brief - your sharp, weekly cut through Vietnam’s business buzz. We deliver the essential stories you need, minus the clutter and noise. Just crisp insights to keep you ahead in Vietnam’s fast-paced market.

This is Brief #2. Let‘s dive right in.

On September 2nd, Vietnam transformed Hanoi’s Ba Dinh Square into a sea of red for its 80th National Day, combining tradition and power for its largest parade since independence.

Across social media and in the streets, the message was unmistakable: Vietnam is self-confident, internationally connected, and keen to make this “birthday” a moment to show soft power as much as military muscle.

Tanks, missile launchers, and fighter jets thundered past tens of thousands of spectators, while 16,000 uniformed troops paid tribute to both historical roots and modern might. Major streets from Hanoi’s core to the Ho Chi Minh Mausoleum were closed for a display broadcast to millions across the nation.

Delegations from China, Russia, and Cuba were reported to be present, underscoring Vietnam’s enduring ties to its socialist and revolutionary allies, while trying to balance it’s opening towards international capital markets.

But the government didn’t stop at fireworks and marching bands. To keep the celebratory spirit sky-high, every single Vietnamese citizen - yes, from newborns to grandmas - received 100,000 VND (about $3.80) cash handout. The government apparently said the cash handout was “the price of one kilogram of pork”. To our Vegetarian and halal readers: Please respond and tell us what you did with your money!

Vietnam’s been riding the crypto wave for years - no rules, no problem… until now. The government just dropped a game-changer: the first-ever law on Digital Tech, coming January 2026, that puts digital assets and cryptocurrencies on the official map.

No more “wild west” crypto chaos. Expect official licenses for up to five local crypto exchanges to kick off pilot programs, letting folks trade Bitcoin, Ethereum, and homegrown tokens with „official oversight“ - plus hooking up with international markets.

Now here’s the twist: banks are circling like hawks. With regulation comes opportunity, and Vietnamese banks are racing to partner with fintechs and crypto exchanges, eyeing new revenue streams from digital asset custody, trading, stablecoins, and tokenized assets. It’s a chance for traditional finance to leapfrog into the digital age rather than get left behind.

Nearly 17 million Vietnamese are already into crypto, making this law less about control and more about turning hype into legit, tax-paying growth. Vietnam is gearing up to be Asia’s newest blockchain hotspot. The challenge? Keeping regulation tight without killing innovation.

And Vietnam isn’t flying solo here. This latest move aligns with global trends seen in the US, Switzerland, Hong Kong, and Singapore, where authorities are rewriting the rules to balance innovation with safety, and fight fraud and money laundering.

Vietnam’s strategy to establish International Financial Centres (IFCs) is progressing, focusing on Ho Chi Minh City and Da Nang as twin hubs for financial innovation and economic growth.

These cities are spearheading reforms and investments to bolster Vietnam’s position in global finance, with Da Nang to advance its reputation as a center for fintech and green finance - and not only for beautiful beaches and 5 star resorts. But Vietnam still faces the big questions: What does launching financial hubs actually mean for Vietnam? And what sets this strategy apart from established Asian titans like Hong Kong and Singapore?

Several events are expected to be happening until end of this year to bring beautiful PowerPoint slides and Word documents into more concrete actions. Of course, we will keep you posted.

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See you next week!