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Day: September 2, 2024

Key Vietnam car maker reports profit fall of 6 percent in first half 2024

From a peak in 2022 of VND 7.4 trillion or US$298.3 million, Thaco has seen its profits continue to fall. This has been attributed to a decline in car sales on the back of broader economic challenges in Vietnam. This is, however, only one part of much bigger changes in Vietnam’s car market as new trade agreements pull down tariffs on imports and trade remedies against cars imported from China into the US and EU see Chinese car makers search for new markets…

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Cheap Chinese imports weighing on Vietnam’s small retailers

Whereas Vietnam has benefit from its proximity to China with respect to developing its own manufacturing industry as firms look to diversify their supply chains out of China, its proximity also means that it is much easier for Chinese manufacturers to access Vietnam’s consumer market…

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Central Vietnam government looks for investors in new steel factory

Developing a steel project right now doesn’t seem to be particularly prudent in that there are a myriad of trade remedies investigations into steel imports around the world currently underway, including against steel from Vietnam. These trade remedies cases look to be the result of increased exports of cheap steel from China and Vietnam on the back of a fall in demand at home following slumps in their respective real estate markets…

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Electronics Retailer Digiworld: Vietnam Stock Overview

As the core business of Digiworld, the electronic devices segment has been challenged by declining demand and intense competition–in the broader market, electronics retail chains like FPT Shop and Mobile World, have also closed a number of underperforming stores. With this in mind, Digiworld has implemented a horizontal development strategy, which involves adding new brands and entering new industries through mergers and acquisitions…

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