Author: the-shiv
Vietnam government agrees to 50 percent registration fee cut for three months
Of note, the Ministry of Finance earlier this year raised concerns that registration fee cuts may create legal problems. Specifically, the policy could be seen to be discriminating between locally made and imported vehicles which would put it in breach of EVFTA rules…
Taiwan launches antidumping investigation into Vietnam cement
In the first seven months of 2024, Vietnam exported 18,227,814 tons of cement and clinker worth US$669.2 million. This was a decline of 13.3 percent over the same period in 2023. To Taiwan specifically, it exported 891,050 tons worth US$32,125,934, according to data from Vietnam’s General Department of Customs.
Japan’s Mitsui buys into Vietnam car maker Tasco Auto
Data from the Vietnam Automobile Manufacturers’ Association from July found that vehicle sales of the group’s members increased significantly in July over June–about 13 percent. Year on year sales, however, were down, which is in line with broader economic challenges.
US critical circumstances allegations filed re: solar cells from Vietnam, Thailand
Essentially, it’s being alleged that firms in Vietnam and Thailand have increased the speed at which they export solar cells to the United States in order to avoid possible future antidumping and countervailing duties. This comes after an investigation was announced earlier this year into some solar imports from Southeast Asia.
Credit to Vietnam’s real estate industry shows steady growth March to May
Of note, Vietnam’s real estate industry has been struggling for the last two years in the wake of the Evergrande crisis in China in 2022. This led Vietnam to take a long hard look at its own real estate industry in which it found the prevalent misuse of investor funds, particularly those acquired through the bond market, and that a number of real estate firms were grossly over-leveraged.
FIFA bans Vietnam football club from new signings over unpaid wages
Of note, Guirassy, was due to be paid out three months’ salary, about US$19,500, but the club’s bank accounts were frozen over unpaid taxes. These were eventually cleared, however, by that time Guirassy’s visa had lapsed and a renewal had not gone through so the bank was unable to process the transaction. At this point with fines and interest the club was up for an additional US$8,400. It’s still not clear when this will be paid.
Doing Business in Bac Ninh, Vietnam 2024
Bac Ninh province has rapidly emerged as a top choice for foreign investors seeking to tap into Vietnam’s thriving manufacturing sector. Its strategic location within the Red River Delta, coupled with solid manufacturing infrastructure and a skilled workforce, has propelled the province into a manufacturing powerhouse.
Doing Business in Long An, Vietnam 2024
Long An province has emerged as a promising investment destination in Vietnam, particularly for manufacturing and agriculture. Its strategic location, coupled with government support, has attracted a growing number of domestic and foreign investors.
Samsung almost 15 percent of Vietnam’s exports so far this year
Samsung exported US$33.5 billion worth of product from Vietnam in the first seven months of the year. This is the equivalent of around 14.73 percent of Vietnam’s total exports and about 46.42 percent of Vietnam’s exports of mobile phones and computers…
PepsiCo Foods building $US90 million plant in northern Vietnam
Notably, Vietnam’s snack consumption is estimated at about 5.2 kg per capita, significantly higher than the global average of five kilograms, suggesting a healthy market for snack foods. Furthermore, Vietnam’s snack food market is projected to reach US$3.9 billion this year, with a compound annual growth rate of 8.15 percent from 2024 to 2029, according to Statista…
Vietnam steel production climbs alongside dumping duties risk
Vietnam’s steel production is expected to increase by 7 percent this year according to the Ministry of Industry and Trade and reported by Vietnam News. This growth, however, will run parallel with an antidumping investigation in the EU into Vietnamese steel…
Two Vietnam stocks in, two out in frontier markets index review
MSCI has removed Vietnam’s EVN Finance and Petrovietnam Nhon Trach shares from its Frontier Markets Index as part of its August Index Review. On the flip side, it has added Vietnam’s Binh Duong Water and Nam A Bank to the index. Of note, Vietnam’s stock market indexes have been in the news a lot lately as the country pushes for an upgrade from a frontier to an emerging market. There are, however, a number of obstacles still standing in the local bourse’s path before an upgrade can be made.
First half manufacturing jobs jump 10 percent over 2023: Adecco
Manufacturing over the last few months has rebounded significantly compared to 2023. Of note, S&P Global’s Vietnam Purchasing Managers’ Index jumped to 54.7 up from 50.3 a month earlier. This was on the back of a sharp rise in new orders that S&P says experienced the highest growth since the index began, aside from the very first month it went online. This continued into July with the index holding at 54.7 percent.
Doing Business in Ho Chi Minh City, Vietnam 2024
Ho Chi Minh City, often abbreviated as HCMC or still widely referred to as Saigon, is Vietnam’s economic heartland. Its dynamic business environment, coupled with a strategic geographic location, has solidified its position as a premier destination for foreign investment and business expansion in Southeast Asia. This bustling metropolis offers a unique blend of traditional Vietnamese culture and modern urban living, creating a vibrant atmosphere for both locals and expatriates.
State power firm looks to Vietnam Dev. Bank after commercial bank loan limit reached
Vietnam’s state power provider Electricity Vietnam or EVN has reached an agreement with the Vietnam Development Bank for US$2 billion to build more power generation and transmission lines. The agreement was arranged on the back of borrowing limits with commercial banks being reached and challenges accessing foreign capital…
Counterfeit OMO laundry detergent operation raided in northern Vietnam
Of note, protecting intellectual property in Vietnam can be challenging. It is common for local businesses to use brand names and logos of other more well-established businesses as well as to find fake brand name goods in Vietnam’s towns and cities. As of April 2024, Vietnam remained on the Office of the US Trade Representative’s Special 301 Report which found that despite intellectual property rights reforms, there were still ‘serious concerns remain regarding IP protection and, in particular, enforcement’.
Moving up runway two construction at HCMC airport floated by airports group
Despite certain stages of the first phase being ahead of schedule, however, several other parts are not moving quite so quickly. For example, the aircraft maintenance area, and operations centre, are at risk of falling behind schedule with the tender documents still not finalized. This could push back completion of the first phase, which is scheduled to be finalised by the end of 2025.
Vietnam ‘unlikely’ to see minimum wage hike in 2025
Of note, the National Wage Council meets at least once a year to discuss the minimum wage in Vietnam. That said, the minimum wage does not necessarily rise every year. For example, during COVID minimum wage rises were put on hold. Similarly, as Vietnam’s economy struggled in 2023 minimum wage hikes were delayed until 2024…
Binh Dinh officials push to include German firm in Vietnam offshore wind pilot
Officials in Binh Dinh are pushing for the Ministry of Industry and Trade to include at least part of an offshore wind farm proposed by Germany’s PNE Group in a pilot offshore wind power project being developed. The full plan is for a US$4.6 billion investment that will generate 2,000
Elevated Vietnam banking bond issuances continue in July
Of note, back in 2022, the construction sector dominated bond issuances, accounting for about 52.30 percent of bonds issued by the end of July that year. Banking on the other hand accounted for just 2.17 percent. At the end of July this year, however, banking accounted for 67.2 percent of the bonds issued whereas construction accounted for just 2.8 percent.
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