Author: the-shiv
Rate cuts in Vietnam likely: Fitch Solutions
Fitch Solutions has said it is expecting a cut to interest rates in Vietnam this year, according to an article published on its website. It reaches this conclusion based on the belief that the 6 to 6.5 percent target for GDP growth for the year is unlikely and that inflation
Vietnam remains on US intellectual property infringement watchlist in 2024
The Office of the United States Trade Representative has released its annual 401 Report which assesses intellectual property protections around the world. Vietnam has maintained its position on the body’s watchlist with a lack of prosecutions and weak law enforcement, the report says.
Chairman of Vietnam’s National Assembly resigns
Vuong Dinh Hue, the Chairman of the National Assembly has resigned after barely two years at the post, VN Express is reporting. The reasons put forward are vague, as they often are, however, it is likely connected with the arrest of his assistant, Pham Thai Ha, on charges of ‘abusing
New Vietnam stock exchange trading system delayed again
Earlier this week, it was reported that the Ho Chi Minh City Stock Exchange’s new KRX trading system would go online on May 1. This has since been delayed by the State Securities Commission–the SSC–according to Bloomberg. The SSC’s reasons are that the Ho Chi Minh Stock Exchange has failed
Vietnam’s VinPearl and Xanh GSM possibly listing in 2024
Chairman of Vietnam’s biggest conglomerate Vingroup, Pham Nhat Vuong, has floated the idea of listing the Vinpearl resorts and hospitality arm of Vingroup, Reuters has reported. Furthermore, he also suggested the ride hailing service he founded, that is currently the biggest buyer of electric vehicles made by Vinfast, which is
State Bank considering reducing reserve requirements for buyers of distressed banks
The State Bank of Vietnam–the SBV–has floated the idea of allowing banks that take over distressed banks that are under the SBV special supervision to benefit from reduced reserve requirements, Vietnam News is reporting. This comes on the back of challenges offloading a number of banks that have had to
Vingroup Chairman insists company will continue to support Vinfast
Vingroup Chairman Pham Nhat Vuong told Vingroups annual shareholders meeting that he will ‘never let go’ of Vinfast, VN Express is reporting. According to the article, Pham insisted that Vingroup and all of its subsidiaries would fall in line behind the electric car project. With Vinfast haemorrhaging money it is
This explanation for no feed-in tariffs on excess rooftop solar
There has been some debate as to whether or not rooftop solar projects should receive feed-in tariffs for excess power they feed to the grid. The Ministry of Industry and Trade is against it essentially arguing that if there are feed-in tariffs people will add rooftop solar in order to
Vinhomes CEO says firm will not financially support Vinfast
The fact that she is even being asked about it is very telling as to how local investors view Vinfast’s prospects even if the local media is firmly on Vinfast’s side. (Full article is in The Investor). Vingroup owns about 60 percent of Vinhomes, and the head of Vingroup has
Why the State Banks gold auction failed Monday
A gold auction of State Bank of Vietnam–SBV–gold reserves slated for Monday was cancelled and a gold auction that went ahead Tuesday had just two bidders, as a result of floor prices that were too high, VN Express is reporting. It also says that the minimum volume, of 1,400 taels
Standard Chartered cuts .7 percent from Vietnam growth outlook
Standard Chartered has said it expects Vietnam’s GDP growth to be around 6 percent in 2024 down from an earlier forecast of 6.7 percent, VN Express is reporting. Notably, the target of 6.7 percent was quite high relatively speaking–Vietnam’s National Assembly, which has a tendency to be overly optimistic, had
Vietnam IP Conviction ‘Minor Miracle’: Torrent Freak
The People’s Court of Hanoi has sentenced a man to 30 months in prison–suspended–and issued him a fine of US$4000, for online piracy, Torrent Freak has reported. The publication describes the outcome as a ‘minor miracle’ with convictions of intellectual property infringements in Vietnam unusual. This outcome was four years
The State Bank of Vietnam lent out US$1.4 billion Tuesday
Reported in Vietnam Biz, this is a huge sum of money relatively speaking. With the State Bank also continuing to issue treasury bills to suck money out of the economy and reduce pressure on the exchange rate, t looks very much like there is an interbank lending problem–the specifics of
World Bank forecasts 5.5 percent growth for Vietnam: Report
The World Bank’s April Taking Stock Report is forecasting GDP growth for Vietnam of 5.5 percent. Whereas the publication mostly rehashes the standard reasons why it expects GDP growth to improve–more demand overseas and stronger FDI it also offers a chapter on entrepreneurship and startups.
How the State Bank of Vietnam’s federal reserves are sold into the market
The State Bank of Vietnam–the SBV–has started selling its US dollar reserves in order to stop the local currency from devaluing further. According to this article from Tuoi Tre it is doing this by selling its dollars to banks that hold negative foreign currency positions. They are allowed to buy
Vietnam coal power profits surge, but renewables, gas struggle
Coal power plants in Vietnam are reporting bumper profit increases of up to 1,424 percent on the back of poor weather conditions dampening hydropower outputs, Tuoi Tre is reporting. It also states that gas power projects have also not fared well, saying this was due to reduced outputs and lower
Offshore wind in Vietnam unlikely before 2028
The Investor is covering the Global Wind Energy Council’s Global Wind Report 2024, which says Vietnam will not have offshore wind power before 2028. The report cites the underdevelopment of Vietnam’s grid and regulatory gaps as key challenges facing offshore wind development in Vietnam. Of note, Vietnam’s Power Development Plan
No one wants the State Bank of Vietnam’s gold
In an odd turn of events, a gold auction slated for yesterday was cancelled due to a lack of interest and a second, today, had just two bidders that bought a collective 3,400 taels of gold of the 16,400 on offer, VN Express is reporting. This is after gold auctions
New KRX trading system to go into action on Vietnam stock exchange from May 2
The Ho Chi Minh City Stock Exchange has said that the KRX trading system, imported from South Korea, will go live after the long weekend on May 2, Tuoi Tre is reporting. It was, however, slated to launch in 2015 but has been repeatedly delayed. Most recently, it was supposed
Vietnam’s bank debt restructuring circular extended
The State Bank of Vietnam–the SBV–has extended the duration of Circular 02/2023/TT-NHNN which gives banks the ability to restructure a customer’s debts without reclassifying the risk level of said debt, The Saigon Times is reporting. This circular was first introduced last year to battle blowouts of debt that came about
In today’s Vietnam news: Hanoi low-emissions zone begins, Tougher penalties for social media, Regulatory delays hamper protein company acquisition, VietJet Australia?, Gold bar tax
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
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