Author: the-shiv
Airlines are making just US$1 per passenger: Vietnam Airlines exec.
The rising price of airfares in Vietnam has been in the news a lot lately. A review of airline ticket prices by the Vietnam Aviation Administration, however, after conducting a brief investigation, earlier this year, found that airfares prices have been within the current guidelines–in Vietnam airfares are regulated by the government.
Transcript of DOC hearing into Vietnam’s non-market economy status now available
This hearing should just about cap off contributions from the parties involved with the Department of Commerce now set to deliberate with a report due July 26.
Vietnam securities firm suggests September 2 launch of new stock trading system
Of note the exchange said that the KRX trading system, imported from South Korea, would go live on May 2, however, this was promptly shut down by the State Securities Commission on the grounds that the exchange had failed to provide evidence trading firms were ready for the new system and because it hasn’t consulted all relevant stakeholders.
Another politburo member resigns in Vietnam
Truong Thi Mai who was, until yesterday, the Standing Secretary of the Secretariat, has resigned her position. This was after it was revealed there were ‘violations and shortcomings’ in her work. Resignations among Vietnam’s leadership have become common of late with the president resigning in March and the Chariman of
MSCI Frontier Markets Index review see Vietnamese stocks shuffled
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 and, as a result, it may still yet be languishing in MSCI’s Frontier Markets Index for some time to come.
Vietnam tech-giant’s losses quadruple after audit
VNG’s Zalo currently has about 72.5 million user accounts and its success has put VNG in the government’s good graces. This may speak to reports last week that the Steam gaming platform had been banned in Vietnam at the request of local game producers.
State media laments struggling Vietnamese films days after censors ban ‘gloomy’ local film
This comes just days after it was reported that the locally produced film Viet and Nam, which is headed for the Cannes Film Festival, was banned from distribution by the Department of Cinema because of its ‘gloomy’ depiction of Vietnam.
State Bank sells US$400 million of forex reserves on Wednesday: ACB
Research from WiGroup last week estimated Vietnam’s reserves to be only about US$90 billion. That being the case, with the IMF recommending enough foreign currency on hand to cover three months worth of imports, and imports reaching just shy of US$30 billion in April, these reserves are dangerously low.
Vietnam’s C.Bank manages to move 8,100 taels of gold at latest gold auction
This latest development is a vast improvement with a series of past gold auctions selling only a few thousand gold bars or being cancelled altogether due to lack of interest. The change of circumstances is likely due to changes to this gold auction that saw the minimum order significantly reduced.
Updated power pricing regulations in Vietnam officially kick-in today
Of note, in 2022 EVN reported a loss of US$1.5 billion with rises in fuel costs vastly outstripping the electricity retail price which is regulated. That said, Decision 24 issued back in 2017, the precursor to Decision 5, already had provisions for the electricity price to be adjusted annually, however, between 2019 and November 2023 no adjustment was made. It’s not clear why and in this context the frequency at which power prices are reviewed may not have been the crux of the problem.
Vietnam real estate market expecting boost from new Land Law
This may, however, be wishful thinking. It is already quite common for overseas Vietnamese to invest in real estate in Vietnam. Generally, if overseas Vietnamese cannot acquire property in their own name they will do so through a family member still living in the country. In this context, it’s not clear that when the new law comes into effect this part of it will make all that much of a difference.
Japanese investor reports big losses from Vietnam’s Nghi Son refinery
A Japanese investor in Vietnam’s Nghi Son refinery, Idemitsu, has said that it has booked a US$263 million provision for bad debt generated by the refinery in the financial year ended March 31. This is reportedly due to increased costs on the back of rising US interest rates. There is,
Vietnam creative industries dealt another blow with Cannes-slated movie banned
A Vietnamese film headed for Cannes has been denied a distribution licence by Vietnam’s Ministry of Communications on the grounds that it shows ‘a gloomy, deadlocked, and negative view’ of Vietnam, according to Screen Daily. This is another blow to Vietnam’s creative industries which are widely seen as underdeveloped, yet
Vietanm customs data for April sees export growth, trade surplus slip
Vietnam customs data released last week shows a slight downturn in exports in April, losing 7.7 percent over March. That said, exports were still up over the first four months of the year by 15.1 percent compared to 2023. Imports were also down 2.9 percent in April over March but
Samsung to increase investment in Vietnam
Samsung has said it intends to invest an additional US$1 billion a year in its operations in Vietnam. This will add to the US$22.4 billion already invested in the country by Samsung. The arrival of Samsung back in 2008 heralded a significant shift in the manufacturing sector with the South
World Poker Tour event in Vietnam scrapped on permitting failure
A World Poker Tour event scheduled to be held in Hanoi has been cancelled amid reports organisers failed to acquire the necessary permits. Local media outlet, Dan Tri has said the Hanoi Department of Culture and Information and the police have been asked to review the event including if the
Vietnam’s gold auction rules change but still not a great investment
The State Bank of Vietnam is still trying to auction off gold to bring down the gold price, despite several failed auctions amid an overheated gold market. This latest gold auction has 16,800 taels of gold up for grabs in lots of 500 taels down from 700 in past auctions,
Vietnam’s second biggest real estate developer under investigation
Vietnam’s Novaland, the country’s second biggest real estate developer, is currently being investigated by the Ho Chi Minh City Police department. The department has reportedly request documents pertaining to Aqua City, a real estate development in southern Vietnam’s Dong Nai province. As a result, Novalands share value plummeted by about
Fact check: Do 21 percent of Vietnamese really own crypto?
A report compiled by Triple-A, a Sinagpore based digital currencies payment provider, has suggested that 21.2 percent of Vietnamese own crypto currencies. This has been widely reported in the media both abroad and in Vietnam, however, this seems far fetched–about 44 percent of Vietnamese are unbanked and just 6 percent
Cutting the 48 hour work week back in the news in Vietnam
Overtures have been made by the Vietnam General Confederation of Labour–the VGLC–to the Ministry of Labor, War Invalids and Social Affairs to reduce standard working hours below the current 48 hours a week. This was announced back in January, however, in recent weeks the idea has gained traction with local
In today’s Vietnam news: Dragon Capital Europe ETF, Carbon market opens, New regulations communicating with press , Copyright commercial-use fee confusion, Vingroup reduces holdings
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,
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