Vietnam Speeds 135,000-Seat Hanoi Stadium as War and Tariffs Deepen Uneven Growth
Updated
Updated · The New York Times · Jul 2
Vietnam Speeds 135,000-Seat Hanoi Stadium as War and Tariffs Deepen Uneven Growth
1 articles · Updated · The New York Times · Jul 2
Summary
Construction of Hanoi’s 135,000-seat Hung Vuong Stadium has accelerated since February, with Vingroup expanding work on the arena and surrounding redevelopment despite global market turmoil.
Vietnam is leaning on giant projects to offset risks from the Iran war and President Trump’s tariffs, channeling support toward state-favored conglomerates and foreign manufacturers that anchor its export economy.
Small local businesses near the site are being squeezed as land is redeveloped and costs rise, reinforcing a pattern in which large firms keep growing while smaller companies struggle to survive.
The shift fits a broader concern about Vietnam’s 100 million-person economy: the World Bank has warned its export-led model is uneven, with low wages and limited spillover to domestic companies.