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18th April 2026

Việt Nam’s medical tourism services eye nearly $4bln in revenue by 2033

Việt Nam’s medical tourism market, valued at about US$700 million in 2024, is projected to reach nearly $4 billion by 2033, growing around 18 per cent annually, highlighting its strong potential.

HÀ NỘI — The Ministry of Health is seeking public feedback on a draft project to develop high-quality medical services and promote medical tourism, attracting both domestic and international patients.

Under the project, by 2030, five key localities, namely Hà Nội, HCM City, Đà Nẵng, Quảng Ninh and Khánh Hòa, will pilot integrated medical tourism models combining hospitals, hotels, resorts and travel services.

According to the ministry, Việt Nam’s medical tourism market was valued at approximately US$700 million in 2024 and is projected to expand to nearly $4 billion by 2033, representing an average annual growth rate of around 18 per cent. The figures underscore the sector’s considerable potential.

Việt Nam benefits from several competitive advantages, including relatively low costs, a highly skilled medical workforce, and the capability to perform complex procedures in fields such as cardiology, organ transplantation, in vitro fertilisation (IVF), and dentistry. These strengths position the country to compete with established regional medical hubs.

To capitalise on this potential, the ministry is formulating a development strategy for high-quality healthcare services for the 2025–2030 period. The initiative aims to attract high-spending patients while also reducing the number of Vietnamese citizens seeking treatment abroad.

The plan further envisages establishing at least 15 internationally accredited hospitals by 2030, including five public institutions. In parallel, service packages will be diversified to include advanced medical treatment, traditional medicine combined with wellness retreats, and comprehensive healthcare packages.

Towards an integrated healthcare–wellness ecosystem

In 2026, healthcare in the capital – one of the five target localities of the draft project – is set to prioritise infrastructure upgrades, modern equipment, workforce training, and the application of artificial intelligence in early diagnosis. Major projects, including the expansion of the local oncology, cardiology and paediatric hospitals, are expected to be rolled out alongside modern rehabilitation and therapeutic care complexes.

From a business perspective, integrated treatment-and-leisure models are also beginning to take shape. Notably, Vinmec Ocean Park 2 International Hospital has introduced a model in which patients receive treatment within private villa-style settings, combining round-the-clock medical care with a high-end resort environment.

Commenting on development, Đỗ Tân Khoa, director of the Traditional Medicine Hospital of HCM City, emphasised that traditional medicine is being identified as a key pillar of the healthcare sector, particularly in attracting international visitors. Beyond treatment, it offers services focused on wellness, rehabilitation, and quality-of-life enhancement – areas of growing interest among foreign patients.

Meanwhile, Trần Quang Huy, director of the Chim Cánh Cụt Travel Service JSC, noted that regional administrative restructuring has enabled travel firms to diversify their products. Previously centred on HCM City with basic services such as dental care, tour packages can now incorporate a broader range of options from specialised dental treatment to cosmetic procedures and wellness retreats.

According to Bùi Thị Ngọc Hiếu, deputy director of HCM City’s Department of Tourism, between 30 - 40 per cent of patients seeking medical treatment in the city come from other provinces or overseas. While most international patients originate from neighbouring countries such as Cambodia and Laos, there has also been a notable growth in other markets, including the US, Australia, Canada and Japan, as well as overseas Vietnamese communities.

Deputy Minister of Health Trần Văn Thuấn affirmed that Việt Nam’s competitive costs, improving medical expertise, and rich tradition of traditional medicine not only enhance domestic healthcare services but also open a promising new avenue for the country’s tourism and healthcare industries.

Source: VNA/VNS

Photo: Photo courtesy of Vinmec

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ThaiGroup plans $4.9 bln tourism-resort complex in northern Vietnam

12th May 2026

Vietnam’s multi-sector corporation ThaiGroup plans to implement a VND128 trillion ($4.86 billion) tourism and resort complex in the northern province of Ninh Binh, home to the UNESCO-recognized Trang An scenic landscape complex, later this year.

The project is expected span more than 1,000 hectares and include between 15,000 and 20,000 hotel and resort rooms, significantly expanding accommodation capacity in Ninh Binh.

ThaiGroup said the project aims to diversify the province’s tourism offerings beyond traditional heritage tourism by adding large-scale entertainment, leisure and nighttime economy attractions designed to encourage visitors to stay longer.

The company expects the average tourist stay in Ninh Binh could increase to four-five days once the complex is operational.

The firm said the project is intended to help reposition Ninh Binh as an international destination for tourism, entertainment and experiential travel rather than solely a cultural and heritage site.

It estimated that the development may contribute over VND35 trillion ($1.33 billion) in land-use fees to the state budget.

To support the project’s planning and design, ThaiGroup has partnered with U.S.-based architecture and urban planning firms Populous and Skidmore, Owings & Merrill (SOM).

Ninh Binh, located about 90 kilometers south of Hanoi, has emerged as one of Vietnam’s fastest-growing tourism destinations in recent years, benefiting from its UNESCO-recognized Trang An scenic landscape complex and limestone mountains. The province is also home to Bai Dinh Pagoda – one of the largest Buddhist temple complexs in Southeast Asia.

After an administrative merger with neighboring Ha Nam and Nam Dinh provinces last July, Ninh Binh province now spans 3,642 km2 with a population of over 4.4 million people.

According to the provincial tourism watchdog, Ninh Binh welcomed nearly 9.9 milion tourist arrvials in the first quarter of 2026, including one million foreign visitors.

ThaiGroup, formerly known as Xuan Thanh Group, was founded in 1976 by businessman Nguyen Duc Thuy, also known as “Bau Thuy.” It initially operated in construction and cement production before expanding into real estate, transportation, insurance and financial services.

Samil Pharmaceutical expands manufacturing footprint in Vietnam

12th May 2026

VOV.VN - The Republic of Korea’s Samil Pharmaceutical is expanding its operations in Vietnam to reduce production costs and seek new growth opportunities.

The move comes as the company’s Chairman Heo Seung Beom increases his shareholding to support the company’s third-generation leadership transition.

Established in 1947, Samil Pharmaceutical is widely known in the Republic of Korea for its children’s antipyretic medicine Brupen. It also manufactures and markets pharmaceuticals and nutraceuticals including Libact, Foributin and Monoprost.

Under its strategic shift, the company is increasingly focusing on overseas production. In 2022, Samil Pharmaceutical completed a contract development and manufacturing organisation (CDMO) facility in Vietnam specialising in ophthalmic products.

The plant spans about 24,800 square metres and has an annual production capacity of 330 million eye-drop units.

The company aims to take advantage of lower labour costs in Vietnam to strengthen its price competitiveness. However, the facility has not yet entered full-scale commercial production, as it awaits Good Manufacturing Practice (GMP) approvals in key target markets.

Following GMP certification from Vietnamese authorities in 2024, Samil Pharmaceutical is now seeking approval from the RoK’s Ministry of Food and Drug Safety in the second half of this year. The company said the approval process is expected to take around two to three months.

The unit prices under this Contract shall remain unchanged throughout the contract execution period

12th May 2026

Việt Nam spent approximately US$2.93 billion importing nearly 3.37 million tonnes of petroleum products in the first quarter of 2026, an increase of 77.8 per cent in value and over 44 per cent in volume compared to the same period last year.

HÀ NỘI — Việt Nam's energy imports have increased sharply in the first three months of 2026, reflecting a rapid recovery in domestic consumption demand along with pressure to secure supply in the face of geopolitical instability and global energy price fluctuations.

Data from Việt Nam Customs shows that the country spent approximately US$2.93 billion importing nearly 3.37 million tonnes of petroleum products in the first quarter of 2026, an increase of 77.8 per cent in value and over 44 per cent in volume compared to the same period last year.

Aside from refined petroleum products, many other energy products also recorded a sharp increase, including coal imports, which rose by 76.4 per cent to nearly $2.8 billion, and crude oil, which surged by 381 per cent to $2.4 billion.

In the first half of April, the upward trend in imports continued, with import value of crude oil and petroleum products approaching $1.25 billion.

Experts attributed the sharp increase in energy imports this year to the rebound of domestic consumption in the wake of a recovered industrial production. The steel, cement, chemical, thermal power and transportation sectors have all recorded higher fuel consumption compared to the same period last year.

Meanwhile, domestic energy supply has not met demand. Domestic crude oil production has been declining for many years due to major fields entering a natural depletion phase.

At the same time, the country's two main refineries, Dung Quất and Nghi Sơn, although operating, are still insufficient to fully meet market demand, especially during periods of significant global oil price fluctuations.

Another factor causing the surge in energy imports was the impact of global geopolitical instability. Conflict in the Middle East in the first quarter caused international oil prices to surge at times, leading to escalating energy import costs. According to the Ministry of Industry and Trade, key businesses have had to significantly increase imports since March to ensure domestic supply and maintain safe inventory levels.

Experts forecast that the trend of sharply increasing energy imports will continue for the next few years as the economy maintains its high growth target, while many gas-fired power, petrochemical and heavy industry projects are put into operation. This will put a significant pressure on trade balance as well as national energy security strategy.

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