Vietnam Roundup: War-induced oil pinch, national assembly polls, FTA talks

Vietnam holds general election with Communist Party dominating candidate list

Vietnamese voters cast ballots on Sunday in a general election for the National Assembly, the country’s top legislative body that largely ratifies decisions by the ruling Communist Party. More than 73 million voters are electing 500 lawmakers and local council representatives in the five-yearly polls. About 93% of the 864 candidates are Communist Party members, while independents account for 7.5%, down from 8.5% in 2021, according to the national election council. The party currently holds 97% of parliamentary seats. Voters expressed hope representatives would support continued economic modernisation under top leader To Lam.

Flight cuts seen from April as China, Thailand halt jet fuel shipments

Vietnam has warned airlines to prepare for potential flight reductions from April after China and Thailand halted jet fuel exports amid the Iran war, raising the risk of shortages. Vietnam imports more than two-thirds of its jet fuel, with 60% supplied by China and Thailand. In a March 9 notice, the Civil Aviation Authority of Vietnam said shortages could begin in April and urged airlines to review operations, particularly domestic routes. Airport operators were also asked to prepare extra parking space if flights are cut. Importers Petrolimex and Skypec said they can guarantee supplies only through March, while deliveries from Singapore have also declined.

Homegrown Viettel is world’s strongest telecom brand in 2026

Vietnam’s Viettel has been ranked the world’s strongest telecommunications brand in 2026, with a Brand Strength Index score of 89.9 out of 100 and an AAA+ rating from consultancy Brand Finance. The result lifts the group to the top of the global telecom sector after placing second for two consecutive years. Brand strength measures customer trust, loyalty and engagement rather than financial value. Brand Finance said Viettel performed strongly on metrics including reputation, trust and customer recommendations. The company’s brand value stands at US$7.9 billion, making it Southeast Asia’s most valuable telecom brand and the only Vietnamese firm in the global Top 500 ranking.

Oil support from Japan, South Korea sought

Vietnam has asked Japan and South Korea to help expand its access to crude oil amid global supply disruptions caused by the Iran war, the trade ministry said on Monday. Deputy Industry and Trade Minister Nguyen Hoang Long made the request during an energy security summit in Tokyo over the weekend. Vietnam’s two refineries meet about 70% of domestic fuel demand and rely heavily on Middle Eastern crude. Long asked Japan to assist in identifying and securing crude supplies and discussed Japanese investment in liquefied natural gas and nuclear power. Vietnam imported 14.2 million tonnes of crude oil last year, up 5.3%, customs data showed.

Vietnam, Switzerland push to accelerate EFTA free trade pact talks

Vietnam and Switzerland have agreed to accelerate negotiations on a free trade agreement between Vietnam and the European Free Trade Association (EFTA), aiming to largely conclude discussions during the 20th negotiation round in Hanoi. Officials said both sides hope to announce the completion of talks by late June 2026 on the sidelines of an EFTA ministerial meeting in Iceland. Switzerland described Vietnam as an important partner and said the deal could boost investment, job creation and technology transfer. Vietnamese officials said the agreement would strengthen trade, supply chains and investment ties with Switzerland and other EFTA members, including Norway, Iceland and Liechtenstein.