Author: the-shiv
Vietnam ceramics exports up 11.3 percent in value August over July
Vietnam’s ceramics exports climbed by 11.3 percent in August over July from US$51.1 million to US$56.9 million. Vietnam’s ceramics exports for the year now stand at US$425 million which represents an increase of 9.2 percent over the same period last year.
Vinhomes (real estate): Vietnam Stock Overview
According to reports by CBRE, in the second quarter of 2024, average selling prices of condominiums in the primary markets of Hanoi and Ho Chi Minh City reached approximately US$2,438 and US$2,560 per square meter, reflecting a year-over-year increase of 25 percent and 6 percent, respectively. Furthermore, they are expected to rise by approximately 22 percent and 5 percent year-on-year by the end of 2024…
Vietnam tourist arrivals increase 24.45 percent July over August
Vietnam’s tourism industry welcomed 1.43 million tourist arrivals in August, an increase over July of 24.45 percent. The biggest growth was seen in visitors from Asia which were up 26.77 percent with 248,606 more Asian visitors in August than in July. Visitors from Europe also saw a significant boost of about 44.64 percent, however, notably this was from a low base. In real numbers visitors from Europe reached 149,102, up from 103,084 in July.
Indonesia officially applies to join Vietnam, others in CPTPP
Of note, the Indonesian and Vietnamese economies are relatively similar. They are both export oriented and have developed quickly by providing abundant low-cost abundant labour to global manufacturing. As such, the two countries often compete for foreign direct investment projects. In this context, Indonesia’s ascension to the agreement could chip away at Vietnam’s edge over its neighbour to the south.
Lack of bilingual reports ‘major barrier’ for foreign investors in Vietnam: HDCapital Exec.
Of note, Vietnam is currently courting an upgrade from FTSE Russell and MSCI from a frontier market to a secondary emerging market and an emerging market, respectively. One issue raised has been disclosure standards…
Vietnam garment and textile exports up 9.1 percent in value August over July
Vietnam’s garment and textile exports climbed by 9.1 percent in August over July from US$3.7 billion to US$4.1 billion. Vietnam’s garment and textile exports for the year now stand at US$24.4 billion which represents an increase of 8.1 percent over the same period last year.
BIDV (banking): Vietnam Stock Overview
In the first half of 2024, BIDV achieved improved performance, with total operating income and net profit rising by 8.3 percent and 12.1 percent year-over-year respectively. This growth was primarily driven by a significant increase in corporate loans for commercial production and mortgage loans, as well as gains in trading and forex-related income.
ADB holds on Vietnam GDP forecast but ‘significant uncertainties on the horizon’
The Asian Development Bank has released its Asian Development Outlook report for September in which it keeps its growth forecast for Vietnam for this year at 6 percent. It also forecasts 6.2 percent for 2025. The publication notes that there are ‘significant uncertainties on the horizon’ alongside several key observations…
Vietnam dairy imports up 7.23 percent August over July
Vietnam’s imports of milk and milk prpoducts by 7.23 percent in August over July from US$101.5 million to US$108.9 million. Vietnam’s milk and milk products imports for the year now stand at US$744.4 million which represents decline of 6.9 percent over the same period last year.
Vietnam’s top universities by revenue pull in US$724 million in 2023
At least ten universities in Vietnam pulled in revenues of more than VND 2 trillion or US$40.8 million last year, according to analysis from VN Express. Of the ten universities six were public and four were private.
Australia’s Commonwealth Bank sells 5 percent of Vietnam International Bank
This comes after it was announced back in June that the Australian bank would be divesting from the company which VIB’s board of directors reportedly only learned about after the State Bank of Vietnam approved the move. The Commonwealth Bank held a 20 percent stake in the bank at the time.
Vietnam’s aquaculture industry takes US$100 million hit from Typhoon Yagi
Vietnam’s aquaculture industry has experienced significant growth in recent years, becoming a major contributor to the country’s economy through Vietnam’s billion-dollar seafood export industry. This damage to the sector will likely see Vietnam’s seafood exports take a significant hit in the near-term.
Vietnam embedded finance market to reach US$2.73 billion by 2029: Report
The rise of embedded finance is significantly reshaping the financial landscape in Vietnam by integrating financial services into non-financial platforms, making them more accessible and user-friendly. This transformation is particularly impactful in a country where traditional banking penetration remains relatively low, but digital adoption is rapidly increasing.
Vietnam non-wood furniture exports up 6.31 percent August over July
Vietnam has emerged as a significant global player in the furniture manufacturing industry. The country’s strategic geographic location, coupled with a relatively skilled workforce and competitive production costs, has positioned it as a key location for furniture production and export…
Vietnam cosmetics imports down 11.2 percent August over July
Vietnam’s imports of essential oils and resinoids, perfumes, cosmetics, and toilet preparations climbed by 11.2 percent in August over July from US$119.7 million to US$133.1 million. Vietnam’s cosmetics imports for the year now stand at US$932 million which represents an increase of 16.7 percent over the same period last year.
Credit growth in Vietnam hovering at 7.26 percent
Of note, it’s not clear that all of the credit entering the Vietnam economy is good. Notably, bad debts are rising among Vietnam’s banks with one analysis of 29 of Vietnam’s biggest banks earlier this year, finding that 27 had recorded an increase in bad debt by the end of June. Between them there was VND 46,719 billion or US$1.86 billion in bad debts, an increase of 20.8 percent compared to the end of 2023.
US$260 million Chinese circuit board factory slated for northern Vietnam
Over the past decade, Vietnam has attracted significant investments from global electronics giants such as Samsung, LG, and Intel, which have established large production facilities here. They have also helped to develop Vietnam’s electronics manufacturing industry which, in turn, is now attracting even greater investment, the aforementioned circuit board factory, for example…
Vietnam launches strategy for semiconductor industry development
Of note, Vietnam has been pursuing a greater role in semiconductor supply chains for sometime. However, it’s never been made clear exactly what a win would be in terms of Vietnam’s role in semiconductor manufacturing… It does, however, already have a place at the end of semiconductor supply chains in assembly, testing, and packaging. Low-value work to be sure but it does give Vietnam a foot in the door. Whether it can leverage this to move its way up semiconductor supply chains remains to be seen.
Vietnam medicines and medical services costs rise .18 percent in July over August
The cost of medicines and medical services in Vietnam went up by .18 percent in August over July, according to the General Department of Statistics’ Consumer Price Index data. This was in line with a year-on-year increase in the cost of medicines and medical services of 8.3 percent.
Vietnam’s richest man wants more English education in Vietnam
English language proficiency has been a priority in Vietnam for some time, crystallised in 2008, with the Foreign Language Teaching and Learning in the National Education System in the 2008-2020 Period plan. This plan outlined a 10-year foreign language education program for all Vietnamese school students by 2020. This target, however, was a tall ask, and in 2017, with this goal still well out of reach, the project was extended to 2025.
In today’s Vietnam news: Ethical / cultural business standards framework, Floating solar project, Embattled construction firm investment spinoff, Raising public debt ceiling, Selling excess
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,
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
This is an interview with John Gardner, CEO and Founding Partner, at Optimum Hospitality in Ho Chi Minh City. It covers fuel price impacts on:
This is an interview with Dr Nuno F. Ribeiro, Associate Professor, International Tourism & Hospitality Management at Copenhagen Business College, formerly of RMIT Vietnam. It