Author: the-shiv
Vietnam’s exports to South Korea rise in October, driven by strong performance in multiple sectors
Vietnam’s exports to South Korea totalled US$2.28 billion in October, reflecting a robust 12.51 percent increase compared to September’s figure of US$2.02 billion. The year-to-date total exports to South Korea reached approximately US$21.21 billion, highlighting South Korea’s position as a key trading partner.
USI Group boosts investment in northern Vietnam by US$75 million
The project specialises in producing and assembling electronic circuit boards, wearable devices, smart handheld devices, and household appliances. With a production capacity of 260 million product sets per year, it plays a significant role in Vietnam’s growing tech manufacturing sector. The facility employs 1,000 workers and contributes substantially to the country’s export economy, generating US$500 million in annual exports.
Vietnam’s computer and electronics exports dip in October, but year-to-date figures show strong growth
There was a slight dip in October, however, year-to-date figures reveal robust growth. From January to October, exports in this category totalled US$58.67 billion, a 26.1 percent increase compared to the same period in 2023.
Vietnam’s exports to China decline in October, with significant drops in key categories
Vietnam’s exports to China in October totalled US$5.43 billion, representing a decline of 10.87 percent compared to September’s figure of US$6.10 billion. The year-to-date total exports to China stand at approximately US$49.94 billion, reflecting China’s status as a vital trading partner despite recent contractions.
Mercedes-Benz starts import business in Vietnam despite local assembly factory
The assembly factory was established in 1995 on a 30 year lease set to expire next year but there have been bureaucratic problems with extending the lease that has meant the factory has had to slow production and there were reports back in August it might shut down altogether.
What’s left in the State Bank of Vietnam’s gold reserves?
The State Bank has said it will continue to sell gold bars from its gold reserves in order to ‘stabilise’ the gold market. Between June 3 to October 29, the central bank sold 305,600 taels of gold or about 11.46 tons of gold into the market from its reserves. At today’s gold price, US$84,880.7 a kilogram, those 11.46 tons would be worth US$972.7 million…
Vietnam domestic flights show slight recovery in October
Among the market leaders, Vietnam Airlines operated 7,483 flights in October with Vietjet retaining its leading position with 7,965 flights, making it the top carrier for domestic routes. Pacific Airlines operated 366 flights, while Vasco and Bamboo Airways contributed 489 and 1,150 flights, respectively.
DEEP C northern Vietnam Industrial Park has US$169 million capital boost approved
It’s hoped this expansion will bolster the park’s ability to attract major investors, adding to its existing roster of notable tenants like Pegatron, Vietnam Advance Film Material, Core5, Posco, and Pyeonghwa Automotive. These companies represent a combined capital of US$5 billion…
Vietnam dairy enzymes market to grow steadily at 4.58% CAGR through 2029
The report goes on to say that the increasing consumption of dairy in Vietnam is fuelled by economic development, urbanisation, and higher disposable incomes. As living standards improve, more Vietnamese consumers are integrating dairy into their diets, valuing its nutritional benefits. This shift has bolstered demand for dairy enzymes, which are vital for producing high-quality products such as milk, cheese, yogurt, and infant formula.
Vietnam’s coffee exports dip in October, year-to-date value remains strong
The year-to-date value growth reflects favourable global coffee prices, offsetting the lower export volumes. While the October performance shows a short-term dip, the overall high value underscores Vietnam’s continued strength as a leading coffee exporter…
Vietnam accommodation and food services FDI sees dip in newly registered capital in October
Despite the fluctuations, the accommodation and food services sector continues to attract interest, driven by Vietnam’s expanding tourism industry and growing demand for hospitality services. It’s expected that FDI levels will continue to grow, as Vietnam’s hospitality sector remains a key component of its economic and tourism growth trajectory.
Vietnam’s pharmaceutical sector shows steady growth with strong year-to-date increase
Year-over-year, the sector grew by 5.9 percent compared to October 2023, while the cumulative increase from January to October was 9.8 percent over the same period last year. These figures highlight the sector’s sustained expansion, which aligns with Vietnam’s focus on its healthcare infrastructure and localising pharmaceutical production to reduce reliance on imports…
Vietnam’s coal exports decline in October, year-to-date figures remain under pressure
The decline in value both for October and year-to-date underscores challenges in the coal sector, including fluctuating global prices and demand shifts toward cleaner energy sources. While volume stability offers some optimism, addressing value declines will be critical for sustaining the sector’s contribution to Vietnam’s exports if that is indeed something Vietnam wants to continue…
Singaporean FDI in Vietnam reaches US$7.79 billion year-to-date by end October
This marks a significant uptick compared to September, where Singaporean investors initiated only 25 projects worth US$560 million….
Vietnam’s exports to the USA surge in October, driven by strong growth in key sectors
High-tech exports continued to dominate, with computers, electrical products, and spare parts topping the list at US$1.81 billion. This category saw a stable growth rate of 0.05 percent, reflecting sustained demand. Meanwhile, machinery, equipment, tools, and instruments followed closely, generating US$2.49 billion in October with a solid growth of 6.58 percent…
Vietnam faces US countervailing duty on shrimp exports
As a result, the US will likely impose countervailing duties on shrimp imports from Vietnam, Ecuador, and India. Additionally, imports from Indonesia, deemed to be sold at less than fair value, will face antidumping duties…
Heesung expands investment in Trang Due Industrial Park by US$125 million
The project specialises in manufacturing and assembling automatic positioning liquid crystal module components, with a production capacity of 10.5 million units annually…
Vietnam’s AI in e-commerce market forecasted to reach US$ 1.74 billion by 2032
The report notes that the rapid adoption of AI technologies is reshaping the industry as businesses seek to enhance customer experiences, optimise operations, and gain a competitive edge. Vietnam’s young, tech-savvy population and the expanding digital economy have fuelled demand for innovative solutions, including personalised recommendations, chatbot-driven customer service, inventory management, and predictive analytics.
Vietnam’s clinker and cement exports soar in October, but year-to-date figures decline
Despite the strong performance in October, year-to-date figures reveal a decline. From January to October, Vietnam exported 25.21 million tonnes of clinker and cement valued at US$967.97 million. This represents a 3.9 percent drop in volume and a 14.1 percent decrease in value compared to the same period in 2023…
Transport and warehousing FDI declines sharply in October
The transport and warehousing sector remains essential to Vietnam’s FDI landscape, supporting the nation’s growing logistics needs and regional trade connections. Despite October’s decline, it’s expected that FDI in this sector will stabilise as demand for efficient logistics solutions continues to rise with Vietnam’s economic growth and expanding trade networks…
In today’s Vietnam news: GS TL on AI, Saigon Economic Times last issue, Fuel prices cut, Vinhomes issuing more bonds, Counterfeit Korean cosmetics store,
In today’s Vietnam news: Power supply imports, Hanoi boulevard project protests, Antidumping duties coming for boxes, Maersk container terminal project Hanoi, Vinpearl foreign investment,
In today’s Vietnam news: Credit limits removed for some major projects, Estonian web security company market entry, Vingroup’s Vuong becomes major shareholder LP Bank,
This is an interview with Chris Walker, a Vietnam Sourcing Expert with Vietnam Factory Tours how rising oil prices and the Middle East crisis are
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This is an interview with Dr Nuno F. Ribeiro, Associate Professor, International Tourism & Hospitality Management at Copenhagen Business College, formerly of RMIT Vietnam. It