National Key Project Completes Construction at a Breakneck Pace
“Vingroup’s speed is like that of Saint Giong” – this was the assessment of Prime Minister Pham Minh Chinh during his visit to inspect the progress of the National Convention and Exhibition Center (VNEC) project in Dong Anh district, Hanoi on May 19, 2025.
Currently, the VNEC project, with a total investment of over VND 7,000 billion and a scale of more than 90 hectares, is in the final stages of completion and is expected to be finished by July 2025, in line with the commitment made by Vingroup. This sets an impressive record with just 10.5 months of construction for a national exhibition project.
Prime Minister Pham Minh Chinh inspects the construction progress of the National Convention and Exhibition Center on May 19. Photo: VGP/Nhat Bac
VNEC is one of the key projects to be inaugurated on the occasion of the 80th anniversary of Vietnam’s National Day (September 2, 1945 – September 2, 2025).
Located in the center of Vinhomes Global Gate urban area, the National Convention and Exhibition Center (also known as The Grand Expo) is considered the first “exhibition city” in Vietnam. This grand project features an indoor exhibition area inspired by the image of Kim Quy (a mythical turtle), with 9 subdivisions and a total area of over 130,000 sq. m.
In addition, VNEC also boasts 4 outdoor exhibition parks spanning 20.6 hectares, 2 modern small-scale indoor exhibition houses, and a variety of auxiliary works.
The Meticulous Attention to Detail in Achieving Green Building Standards
The prominent structure (indoor exhibition area) of the grand project, valued at over VND 7,000 billion in Dong Anh, is designed in the image of Kim Quy, a mythical turtle from the ancient legend of the Vietnamese people about the construction of Co Loa ancient citadel.
The image of Kim Quy, one of the Four Divine Creatures in Vietnamese culture, not only symbolizes health, wealth, and prosperity in ancient times but also emphasizes Vingroup’s commitment to constructing the project according to “green building” standards to ensure safety and sustainability.
The buildings and structures at VNEC are meticulously crafted down to the last bolt and nut. Photo: Urban Forum
In the VNEC project, glass fiber fabric is used to create lightweight yet sturdy structures, contributing to modern and sustainable design. Glass fiber fabric is known as fire-resistant or fire-retardant fabric due to its ability to withstand high temperatures of up to 550°C without burning or producing toxic smoke when exposed to fire.
Moreover, this material offers superior insulation thanks to its low thermal conductivity, making it highly effective for use in extreme temperature environments (-20°C to 550°C).
Combining glass fiber fabric with glass walls and railings not only enhances aesthetics but also provides sun shading and optimal energy savings, in line with “green building” standards.
Despite the ambitious goal of completing the project at breakneck speed, VNEC is executed with astonishing care and precision.
The dome of the structure utilizes approximately 24,000 tons of steel, carefully fabricated and installed over a period of 5 months, achieving a safety factor twice that of the normal standard. All bolts were checked and tightened a second time, with no errors recorded, ensuring absolute long-term safety.
Unlocking a Sustainable Billion-Dollar “Gold Mine” in Hanoi
VNEC is predicted to be among the top 10 largest convention and exhibition centers in the world, rivaling the likes of Dubai Expo (United Arab Emirates), Frankfurt (Germany), and Milan Expo (Italy). It will serve as the “master key” to unlocking a “billion-dollar Expo economy” in Vietnam.
Panorama of the National Convention and Exhibition Center (The Grand Expo). Source: Vingroup
Expo Cities around the globe are designed as hubs for trade, attracting businesses, investors, and tourists worldwide. This generates significant revenue and fosters sustainable economic development. For instance, Milan Expo attracted 22 million visitors, bringing in $10 billion in revenue for the economy, while Dubai Expo attracted over 24 million visitors and generated over $33 billion, creating 277,000 new jobs.
The Expo economy is a model of urban development linked to international exhibition events, bringing comprehensive economic benefits to the host country. This model not only boosts direct growth through trade, investment, and tourism but also has a long-lasting impact, shaping world-class urban areas and infrastructure services.
As a national key project, replacing the old Giang Vo Exhibition Center, VNEC will elevate Hanoi to become the “capital of events” in the region.
The event organization function of VNEC, coupled with the range of utilities and services at Vinhomes Global Gate – Vietnam’s first Expo City, will propel the tourism industry, especially MICE tourism (Meetings, Incentives, Conferences, and Exhibitions).
This will be a significant contributor to Hanoi’s goal of welcoming 49 million tourists by 2030, including 13-14 million international visitors.
What’s Capturing the Attention of Stock Investors?
The VN-Index is inching closer to its 2025 peak after three consecutive weeks of gains. The looming profit-taking pressure could trigger short-term market volatility. Next week, investors’ eyes will be glued to news of potential tariff negotiation support between Vietnam and the US, which could provide a fresh impetus for the market.
Expert Take: Stock-Picking Opportunities Wane as Cash Takes a Cautious Stance Ahead of Trade Talks Outcome
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The divergence among stocks may become more pronounced this week, as the lack of fresh supportive news may lead to a further distinction between strong and weak stocks. With limited positive catalysts, the ability to identify robust stocks becomes increasingly crucial, and cautious capital deployment is expected.
“VN-Index: What’s in Store for the Week Ahead?”
The stock market is heating up, and with it, the pressure on the VN-Index to adjust. In light of this, leading securities companies are advising investors to refrain from buying into the hype and engaging in short-term stock speculation.
The Billionaire’s Assets Surge to Unprecedented Heights
“Vingroup’s stock surge: VHM and VIC soar to new heights. In a thrilling rally, Vingroup’s stocks witnessed a substantial surge with VHM and VIC reaching their peak. This exhilarating performance has propelled billionaire Pham Nhat Vuong’s net worth to a record-breaking $10.2 billion, according to the latest updates from Forbes.”
The VinGroup Stock Rally: How High Can the VN-Index Soar?
Since the beginning of the year, the “Vingroup family” of stocks has surged by several tens of percent, and in some cases, even multiplied. This remarkable performance has significantly contributed to the VN-Index.
