Vietnam Morning Monitor: Revamp planned for iconic Ho Chi Minh City markets, police bust $15.6mn AI scam ring

| POLITICS

-- Polish Prime Minister Donald Tusk arrived at Noi Bai International Airport in Hanoi on Sunday, continuing his official visit to Vietnam from October 24 to 26 at the invitation of Vietnamese Prime Minister Le Minh Hung. Following his prior activities in Da Nang City, the high-level delegation began their official engagements in the capital. Both sides are scheduled to hold high-level talks to discuss bilateral cooperation expansions and regional issues of mutual concern.

| SOCIETY

-- The Ministry of Public Security announced the dismantling of a large-scale fraudulent scheme operating through the Tatao Live AI livestream platform, which defrauded over 40,000 victims nationwide of more than VND404 billion (more than US$15.6 million). Authorities reported that the syndicate used high-return investment promises and pyramid-scheme mechanisms before blocking withdrawals and attempting to launder the illicit funds. Currently, seven suspects have been prosecuted as investigations continue.

-- The Ministry of Public Security has proposed establishing five data security risk levels, ranging from low to high, in the draft law on data security. The drafting agency stated that this mechanism aims to assign clear responsibilities for protection throughout the data lifecycle while minimizing administrative procedures for low-risk groups. The bill seeks to tightly regulate critical systems while safeguarding the legitimate rights and interests of businesses and citizens.

-- On Sunday evening, local police in An Khanh Ward, Ho Chi Minh City launched an investigation to hunt down a group of teenagers who chased and attacked people with weapons on Nguyen Co Thach Street. The incident, which caused widespread public concern, was captured on video and widely shared on social media. Authorities are currently reviewing surveillance footage to identify and apprehend the suspects involved.

| BUSINESS

-- Following the official European tour by Vietnamese Party General Secretary and State President To Lam, approximately €20 billion ($22.4 billion) in investment resources have been committed for cooperation projects in Vietnam. According to Minister of Foreign Affairs Le Hoai Trung, this funding encompasses multiple strategic initiatives promoted during high-level engagements with European partners and corporations.

-- The State Securities Commission has proposed removing several strict IPO conditions—such as the requirement on the percentage of shares sold during an offering—in the draft revised Securities Law to make it easier for businesses to access capital. According to the agency's representatives, the adjustments aim to lower market entry barriers while ensuring robust oversight and investor protection. This regulatory move is expected to boost transparency and stimulate activity within the domestic stock market.

-- Ho Chi Minh City has introduced comprehensive restructuring and upgrade plans for major traditional markets, including Ben Thanh, Tan Dinh, and Da Kao. Local authorities stated that these initiatives aim to optimize commercial layouts, reorganize underutilized sectors, and enhance local trading efficiency. The municipal administration expects these upgrades to preserve traditional commercial values while transforming the historic markets into attractive urban tourism highlights.

| EDUCATION

-- At the 40th ASEAN Council of Teachers plus Korea Convention in Singapore held from October 22–25, 2026, Vietnamese education expert Dr. Trinh Thi Quy proposed a four-layer leadership model to safely and equitably integrate artificial intelligence into general education, according to the Vietnam News Agency. Dr. Nguyen Ngoc An, chairman of the National Education Union of Vietnam, emphasized that educational progress ultimately relies on confident and well-equipped teachers rather than technology alone.

Wild sunflower season in Da Lat