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Day: December 2, 2024
Vietnam’s rice exports dip in October, but year-to-date figures remain strong
Despite the October dip, year-to-date performance remains robust. From January to October, Vietnam exported 7.75 million tonnes of rice, generating US$4.86 billion in export value. This marks a 10.1 percent increase in volume and a 23.5 percent rise in value compared to the same period in 2023, reflecting higher global rice prices.
Vietnam’s exports to Indonesia grow 6.8 percent in October
Vietnam’s exports to Indonesia reached US$527.62 million in October, up 6.80 percent month-on-month with year-to-date export value totalling US$5.16 billion, according to Vietnam’s General Department of Customs.
FDI inflows from the Netherlands to Vietnam show positive growth
Year-to-date figures show a total of 11 new projects and US$164.84 million in newly registered capital. These figures demonstrate that the Netherlands remains a significant contributor to Vietnam’s economic development, particularly in sectors such as manufacturing and processing.
Vietnam’s PMI falls in November but still in growth territory
The S&P Global Vietnam Manufacturing Purchasing Managers’ Index recorded a fall in November over October, from 51.2 points to 50.8, according to a press release from the firm. This is still above the 50-point no-change point signalling the sector is still in an expansionary phase.
Vietnam NA approves Vietnam Airlines share issue to clear outstanding debts
This is an interesting development in that 86 percent of the airline is owned by the government. With this in mind, the National Assembly has effectively given the government permission to issue several thousand billion dong worth of shares to itself. It’s not clear, however, if the National Assembly will give the government permission to buy said shares.
Vietnam’s precious stone and metal exports grow in October, but year-to-date figures decline
However, year-to-date performance remains weak. From January to October, exports in this category totalled US$523.14 million, marking a significant 38.3 percent decline compared to the same period in 2023.
Concerns re: Low domestic consumption spark response from Vietnam PM
Overall, local media coverage suggests broad consensus that there is a domestic consumption problem, relative to past experiences, in the lead up to the Lunar New Year. That said, there does not seem to be much in the way of analysis of the specific aspects of the Prime Minister’s Directive or how it might manifest in a practical sense…
Vietnam NA approves resuming pursuit of Ninh Thuan nuclear power plant
Coverage from Dau Tu Chung Khoan notes that the cost was estimated to be VND 200,000 billion in 2009 (This is about US$7.9 billion at today’s exchange rate). In addition, the publication points out that several key issues were raised by the NA including radioactive waste management and community safety, though these do not appear to have been addressed.
Vietnam’s exports to the Philippines rise 11.69 percent in October
Vietnam’s exports to the Philippines reached US$600.87 million in October, marking an 11.69 percent increase month-on-month with the year-to-date export value reaching US$5.22 billion, according to Vietnam’s General Department of Customs…
Vietnam retail sales of services records steady growth in October
In September, the sector recorded sales of VND 56.56 trillion, equivalent to US$2.23 billion. In October, this rose to VND 57.95 trillion, or US$2.28 billion, showing a month-on-month growth of 2.46 percent.
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