We foresee more high-end restaurants opening: RMIT expert
Vietnam has gained further prominence as a food destination thanks to the emergence of high-end dining, writes Justin Matthew Pang, a lecturer of the tourism and hospitality management program, RMIT.

The high-end restaurant scene in Vietnam has certainly seen it ups and downs over the last few years.
When the Covid-19 pandemic struck the country in early 2020, many high-end restaurants were unable to operate due to the restrictions imposed on them by the authorities in view of social distancing and safety reasons. These restaurants took a massive hit with many seeing negative earnings over that period. It even came to the point when some establishments were driven to bankruptcy and permanent closure.
The lifting of social lockdown and the opening of the economy towards the end of 2021 gave many restaurants and food and beverage outlets a lifeline they sorely needed. This reopening not only granted people the possibility to dine out at restaurants but also the opportunity to demand better quality food - post-pandemic.
Having lived off basic food necessities for the past two years, many Vietnamese saw this as the equivalent of the food and beverage version of the ‘revenge travel’ phenomena, demanding higher quality and imported foods such as wines and cheese, thereby reviving not only the restaurant scene but giving rise to more upscale restaurants, although not entirely full service fine-dining establishments.
The effect was further accentuated by the need to travel by both domestic and international tourists. For the last 18 months, with the opening of national borders, Vietnam has seen a dramatic increase in both international and domestic travelers. The country had more than 3.5 million international arrivals in 2022 and domestic travellers exceeded more than 101 million. Many of these tourists who had not travelled for the last two years had amassed good finances and wanted to travel and dine well, once again, leading to the inception and opening of good quality restaurants.
Many of the internal travelers are from the younger to middle age social demographic groups who travelled widely pre-pandemic and could afford better food, owing to their higher disposable incomes, and wanted better travel cum dining experiences. As for international travellers, many seek food they are familiar with (which is generally more expensive and high-end) or authentic Vietnamese cuisine, that has been married with a Western service style – offered only in upscale dining establishments.
The milestone that truly helped put Vietnam on the culinary map in recent years was the awarding of Michelin stars to restaurants in Hanoi and Ho Chi Minh City. This momentous event held in June 2023 saw four restaurants in the two cities awarded with a one Michelin star for their creativity to enhancing gastronomic delights in Vietnam. Another 99 other restaurants and canteens were also recognized and honored for offering exceptional and good quality dishes. Vietnam has gained further prominence now as a new destination for high-end delectable foods.
As the country progresses forward into the new year, we foresee more high-end and upscale dining restaurants opening in the near future. These restaurants will offer both foreign and local cuisines – catering to locals who are more exposed to international cuisines, as well as to travelers to Vietnam who wish to enjoy the local fare.
We also foresee more international renowned upscale food chains setting up their headquarters and bringing their brands and restaurants to Vietnam, as Vietnamese become more sophisticated diners wanting only the best food choices. In time, we posit that new ‘fusion-hybrid’ Vietnamese flavors and food will emerge from this melting pot of different cultures and travelers – hence raising the bar for Vietnamese epicurean delights and fine foods.
- Read More
Halal market presents major opportunities for Vietnamese businesses
The global Halal market is projected to reach $5 trillion by 2030, with Malaysia alone expected to hit $113.2 billion, said Shariza binti Abdul Rasheed, Halal product manager at Maybank Malaysia.
Economy - Thu, August 7, 2025 | 9:18 pm GMT+7
Steel major Hoa Phat to pour extra $130 mln into central Vietnam plant
Vietnam’s leading steelmaker, Hoa Phat Group (HoSE: HPG), will increase investment in its Dung Quat 2 iron and steel production complex by VND3.4 trillion ($129.7 million) as part of an expansion plan.
Industries - Thu, August 7, 2025 | 8:03 pm GMT+7
Vietnam’s army-backed construction firm proposes 14 offshore wind power projects
Lung Lo Construction Corporation (LLC), under the Ministry of National Defense, has submitted investment proposals for 14 offshore wind power projects with a combined capacity of 9,000 MW.
Energy - Thu, August 7, 2025 | 5:07 pm GMT+7
Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure
Vietnam's agri major Hoang Anh Gia Lai JSC has been fined VND92.5 million ($3,528) for failing to disclose bond-related information as required by law.
Companies - Thu, August 7, 2025 | 4:31 pm GMT+7
Northern Vietnam province accelerates $2.2 bln LNG-to-power project
Quang Ninh province will hand over 4.9 hectares of reclaimed land to the Quang Ninh LNG-fuelled power plant project before August 11, local authorities stated at a meeting on Wednesday.
Energy - Thu, August 7, 2025 | 4:17 pm GMT+7
Vietnam's seafood firms ride profit wave ahead of US tariff hike
Vietnam’s seafood companies reported surging profits in Q2/2025, driven by importers ramping up purchases ahead of new U.S. reciprocal tariffs.
Economy - Thu, August 7, 2025 | 2:21 pm GMT+7
Le Anh Tuan appointed new CEO of Dragon Capital Vietfund Management JSC
Dragon Capital Group, Vietnam's largest asset manager, has appointed Le Anh Tuan as CEO of its arm Dragon Capital Vietfund Management Joint Stock Company (DCVFM), starting from October 1, 2025.
Companies - Thu, August 7, 2025 | 2:01 pm GMT+7
Indonesia, Malaysia, Thailand expand local currency transaction network
Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand have added new Appointed Cross Currency Dealer (ACCD) participating banks to broaden services for bilateral transactions in local currencies across the three nations, Bank Indonesia said in a statement on Tuesday.
Southeast Asia - Thu, August 7, 2025 | 12:48 pm GMT+7
ASEAN to sign MoU on regional power grid implementation
ASEAN member states are set to sign an MoU on the implementation of the ASEAN Power Grid during the bloc’s Energy Ministers’ Meeting this October.
Southeast Asia - Thu, August 7, 2025 | 12:43 pm GMT+7
Vietnam overtakes Thailand to become world's second-largest rice exporter
Vietnam has outranked Thailand as the world’s second-largest rice exporter in the first half of 2025, Thai PBS reported on August 3, citing the Thai Rice Exporters Association.
Companies - Thu, August 7, 2025 | 12:41 pm GMT+7
Vietnam posts trade surplus of $10.18 bln in 7 months
Vietnam’s export earnings grew by 14.8% to $262.44 billion in the first seven months of this year, while its import turnover rose by 17.9% to $252.26 billion, resulting in a trade surplus of $10.18 billion.
Economy - Thu, August 7, 2025 | 12:19 pm GMT+7
Malaysia pledges big purchases, investments with US
Malaysia has agreed to buy and invest over $240 billion (MYR1.02 trillion) in the U.S. to help reduce the trade gap between the two countries.
Southeast Asia - Thu, August 7, 2025 | 12:08 pm GMT+7
Vietnam's leading property developer Novaland to issue 152 mln shares to settle $229 mln debt
Novaland, a major real estate developer in Vietnam, plans to issue nearly 152 million new shares to swap more than VND6 trillion ($228.8 million) worth of bond principal.
Companies - Thu, August 7, 2025 | 10:11 am GMT+7
Vietnam's FDI capital disbursement hits five-year record high despite US tariff turmoil
Disbursed foreign direct investment (FDI) capital in Vietnam reached $13.6 billion in Jan-July, up 8.4% year-on-year, despite U.S. tariff concerns.
Economy - Thu, August 7, 2025 | 9:57 am GMT+7
Malaysia steps up efforts to explore nuclear energy potential
Malaysia’s Minister of Science, Technology and Innovation Chang Lih Kang on Wednesday reaffirmed his ministry’s commitment to enhancing cooperation with the Ministry of Energy Transition and Water Transformation (PETRA) in exploring the potential of nuclear energy.
Southeast Asia - Thu, August 7, 2025 | 8:10 am GMT+7
Indonesia's economy grows faster than expected
Indonesia's economy expanded by 5.12% year-on-year in Q2/2025, up from 4.87% in the previous quarter, exceeding the forecasts of many economic organizations, which had previously projected a rate of less than 5%, according to Statistics Indonesia (BPS).
Southeast Asia - Thu, August 7, 2025 | 8:07 am GMT+7
- 2024 in review and 2025 forecasts
-
Standard Chartered puts Vietnam's 2025 growth forecast at 6.1%, country aims for 'at least 8%'
-
ADB forecasts 6.3% GDP growth rate for Vietnam in 2025, country aims for 'at least 8%'
-
Vietnam's registered FDI tops $21 bln in H1, highest in 16 years
-
Vietnam GDP growth hits 7.3% in H1, highest in 17 years: Minister
-
Vietnam GDP grows nearly 7% in Q1: Prime Minister
-
Vietnamese dong likely to weaken further: UOB