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Day: June 11, 2024

Adidas, New Balance suppliers struggling to find workers in southern Vietnam

the-shiv June 11, 2024

Some of the challenges raised in this article, with respect to hiring workers, is that workers have more job options other than factory work, workers no longer need to move to population centres with many manufacturing operations opening in tier two cities and provinces, and workers that moved back to their hometowns during the COVID-19 pandemic have still not returned on the back of the general uncertainty that the pandemic created.

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Korea’s Daewoo looking at making cars in Vietnam

the-shiv June 11, 2024

Vietnam’s automotive industry is huge but dominated by motorcycles. That said, cars are becoming more popular with just shy of 5 million registered vehicles at the end of 2020. This does, however, represent just 5 percent of the population of 100 million people which means there is plenty of room for car sales to grow…

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Russian president could be in Vietnam next week: Reuters

the-shiv June 11, 2024

Vietnam has remained cordially with Russia throughout the Ukraine War. The Southeast Asian nation is heavily dependent on Russia for its arms supplies but also has a strong bond with the country on account of their similar political pasts. This has seen Russian tourist arrivals grow by 80 percent in the first five months of this year over the first five months of 2023 and…

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Vietnam solar production slows on end to antidumping moratorium

the-shiv June 11, 2024

Of note, Trina Solar, in November of last year, announced it would almost doubled its investment in Vietnam bringing the total invested to nearly US$900 million. It also said, around the same time, that it believes its solar panels should be exempt from the US tariffs on the ground that its polysilicon comes from the US and Europe. With this in mind, it’s not clear what might happen to the additional investment Trina Solar announced last year…

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Reports Vietnam will allow gold imports before the end of the year

the-shiv June 11, 2024

If this is accurate, this would signal an interesting turn of events. To be clear, the State Bank took control over gold imports and exports to stabilise the local currency when inflation surged back in 2011. At the time, gold was being used as a store of wealth to hedge against inflation and banks were permitted to lend and borrow against the yellow metal which was pushing up demand (incidentally this practice was banned in 2012, too). This was increasing demand for US dollars to import more gold and subsequently putting inflationary pressure on the local currency…

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