Vietnam news in English for foreign firms doing business in Vietnam

Vietnam’s 15th National Assembly wrapped up its 8th session on the weekend bringing to the end a month of debate and discussion with a number of new laws and amendments to existing laws approved. Here’s a few key takeaways for firms doing business in Vietnam…

Vietnam News Roundup: November 22 to November 28

Mark Barnes November 29, 2024

This week’s Vietnam news roundup covers the latest State Bank open market operations, the special consumption tax debate, the new Law on Trade Unions, the latest foreign stock trading activity, and more…

Vietnam’s exports to Belgium see October surge

the-shiv December 5, 2024

Vietnam’s exports to Belgium reached US$403.87 million in October, reflecting a significant increase of 43.58 percent compared to September, according to Vietnam’s General Department of Customs. Year-to-date exports have now reached US$3.16 billion.

Vietnam’s VN-Index jumps 27.12 points, foreign traders net buy US$26.3 million in stocks Thursday

the-shiv December 5, 2024

The Vietnam Stock Market Tracker provides a daily update of the latest developments in the stock market in Vietnam. This includes all of Vietnam’s most important indexes as well as the buying and selling activity of foreign traders, and the biggest gainers and losers for the day.

Vietnam C.Bank central exchange rate inches higher Thursday

the-shiv December 5, 2024

This Vietnamese Dong Tracker records the latest news and developments with respect to the local currency. It includes the current prices as well as State Bank of Vietnam monetary policy and open market operations including treasury bill issuances and interbank lending.

Vietnam’s textile, footwear materials exports recorded 15.3 percent jump in October

the-shiv December 5, 2024

Year-to-date figures also indicate steady growth. From January to October, the sector’s exports totalled US$1.85 billion, a 13.3 percent increase compared to the same period in 2023.

Vietnam’s fabric imports record 4.96 percent increase in October

the-shiv December 5, 2024

Vietnam imported fabric worth US$1.32 billion in October, reflecting a 4.96 percent increase compared to September. Year-to-date imports reached US$12.27 billion, according to Vietnam’s General Department of Customs.

China’s Temu semi-halts operations in Vietnam on registration challenges

the-shiv December 5, 2024

Of note, Temu was not using a .vn domain name and it seems unlikely it would have reached 100,000 transactions in the few months it has been operating in the country. Ergo, by removing the Vietnamese language website the firm is now compliant–VN Express confirmed this with a representative from the Ministry of Industry.

Vietnam C.bank readying itself to resume Forex sales: Local media

the-shiv December 5, 2024

Of note, CafeF has reported, citing ‘sources’, that the SBV has advised some local banks that it intends to resume selling foreign currency. This has also been reported by Vietnam Securities Economic Magazine which has noted the intervention price has been set at 25,450–Vietcombank, among Vietnam’s biggest foreign currency traders, was selling US dollars yesterday for 25,475…

Vietnam’s exports to Spain record sharp rise in October

the-shiv December 5, 2024

Vietnam’s exports to Spain reached US$354.96 million in October, marking an 11.12 percent increase compared to September, according to Vietnam’s General Department of Customs. Year-to-date exports have now reached US$3.41 billion.

Vietnam’s mobile phone exports record slight dip in October, but steady YTD

the-shiv December 5, 2024

Despite the slight monthly dip, year-to-date figures reflect solid growth. From January to October, exports in this category reached US$46.47 billion, a 4.9 percent increase compared to the same period in 2023…

Vietnam’s coal imports jump 4.64 percent in October

the-shiv December 4, 2024

Indonesia remained the largest supplier, contributing US$206.47 million, marking a 36.98 percent increase month-on-month. Australia followed with US$174.98 million, showing growth of 32 percent…

Vietnam’s exports to Italy see significant growth in October

the-shiv December 4, 2024

Vietnam’s exports to Italy totalled US$469.68 million in October, reflecting a robust increase of 35.62 percent month-on-month. Year-to-date exports to Italy reached US$4.15 billion, according to Vietnam’s General Department of Customs.

FDI inflows from Germany to Vietnam show positive growth in October

the-shiv December 4, 2024

Year-to-date figures show a total of 18 new projects and US$93.70 million in newly registered capital, indicating Germany’s ongoing role in Vietnam’s economic development.

Vietnam’s tea exports grow in October, year-to-date performance shows robust growth

the-shiv December 4, 2024

Year-to-date figures demonstrate strong growth. From January to October, Vietnam exported 120,306 tonnes of tea, valued at US$211.93 million. This reflects a 28.3 percent rise in volume and a 30.3 percent increase in value compared to the same period in 2023.

Vietnam struggles to disburse foreign loans on site clearance, approval delays

the-shiv December 4, 2024

On the issue, the official government newspaper, has comments from several provincial leaders that have all detailed the same sort of problem in that plans are often changed after being approved which has seen delays as approvals for the revised plans have been sought. This often connects with site clearance delays.

Vietnam’s exports to Singapore jump 11.71 percent in October

the-shiv December 4, 2024

Vietnam’s exports to Singapore reached US$433.10 million in October, an increase of 11.71 percent month-on-month. Year-to-date exports to Singapore amounted to US$4.35 billion, according to Vietnam’s General Department of Customs.

FDI inflows from Switzerland to Vietnam show steady investment in October

the-shiv December 4, 2024

Switzerland registered four new FDI projects in October in Vietnam, but no newly registered capital (NRC) recorded, according to the latest data for October from the Ministry of Planning and Investment. This compares to September, which saw 3 new projects but also no newly registered capital.

Vietnam’s camera exports remain steady in October

the-shiv December 3, 2024

Year-to-date performance reflects significant growth. From January to October, Vietnam’s exports in this category totalled US$6.86 billion, an 18.4 percent increase compared to the same period in 2023.

Vietnam’s exports to Mexico see significant growth in October

the-shiv December 3, 2024

Vietnam’s exports to Mexico reached US$482.81 million in October, marking a robust increase of 14.65 percent compared to September. Year-to-date exports to Mexico totalled US$4.57 billion, according to Vietnam’s General Department of Customs.

FDI inflows from Malaysia to Vietnam shows strong October growth

the-shiv December 3, 2024

Year-to-date figures show a total of 35 new projects and US$139.25 million in newly registered capital. These figures fortify Malaysia’s strong and growing role in Vietnam’s economic development, particularly in sectors such as manufacturing and processing.

Residential Real Estate in Vietnam: Industry Overview 2024

the-shiv December 3, 2024

Vietnam’s residential real estate market is shaped by urbanisation, economic growth, and rising demand for diverse housing options. Major cities like Ho Chi Minh City and Hanoi dominate the sector, with developments ranging from affordable apartments to luxury villas. That said, there are challenges in the sector such as affordability issues and rising land prices. Regardless, the residential market remains a vital component of Vietnam’s real estate landscape.