Japan-Kuwait joint venture Idemitsu Q8, the first 100-percent-foreign-owned oil & gas retail company in Vietnam, has opened its third petrol station in the northern province of Hung Yen.
Scene at the freshly opened Idemitsu Q8 petrol station in Hung Yen (Photo: VNA)
Hanoi (VNA) – Japan-Kuwait joint venture IdemitsuQ8, the first 100-percent-foreign-owned oil & gas retail company inVietnam, has opened its third petrol station in the northern province of HungYen.
Co-run by the Japanese Idemitsu Kosan Co. Ltd and KuwaitPetroleum Europe B.V., Idemisu Q8 established its first petrol station in Hanoiin October 2017. The event attracted attention thanks to the difference inservices between the company and other players in the market, when thecompany’s Director General braved the rain to greet customers at the stationduring the first days of operation.
It is noteworthy that Idemisu Q8 has selected locations forits petrol stations near industrial parks where there are large numbers ofJapanese companies.
Its second facility, also the biggest of Idemitsu Kosanoutside Japan, spans 10,000 m2 in Dong Hai 2 ward, Hai An district, in thenorthern Hai Phong port city. The location is at a service site near the DinhVu port.
Vietnam’s petrol retail market currently has more than14,000 petrol stations. The Vietnam National Petroleum Group (Petrolimex) owns5,200 stations or about 45 percent of the total, followed by PVOil with 3,000stations, Thanh Le 1,150 stations, and Saigon Petro 1,000 stations.-VNA
The upcoming operation of Idemitsu Q8 Petroleum LLC in Vietnam’s petroleum market is expected to increase the competitiveness of the local oil and gas product market.
Vietnam’s real estate sector has witnessed significant participation from Japanese investors through cooperation with local businesses recently, promising to bring benefits to the real estate market.
Nghi Son Refinery and Petrochemicals LLC in Thanh Hoa introduced the first batch of petrol A95 on May 8, the third commercial product produced by the plant, following gasoline RON 92 and Benzen.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Scene at the freshly opened Idemitsu Q8 petrol station in Hung Yen (Photo: VNA) 
