Author: the-shiv
New registered FDI in Vietnam reaches US$9.27 billion
Vietnam’s General Statistics Office has released its Report on the Socio-Economic Situation in April and the First Four Months of 2024 in which it says new foreign direct investment commitments have reached US$9.27 billion, an increase of 4.5 percent over the first four months of last year. Furthermore, it states
Consumer price index gains 4.33 percent year-on-year
Vietnam’s General Statistics Office has released its consumer price index data from April finding a 4.33 percent increase compared to April of last year. The biggest increases were in education, other goods and services, and housing and construction materials. Vietnam’s Consumer Price Index summary, April 2024 M-O-M Y-O-Y Food and
Vietnam’s industrial production index registers a 6 percent increase
Vietnam’s General Statistics Office has released industrial production data from January to April finding a 6 percent increase over the same period last year. Of the four categories the GSO tracks, ‘production and distribution of electricity, gas, hot water, steam and air conditioning’ recorded the biggest increase of 12.3 percent.
New report on tech startups in Vietnam finds funding dives in 2023
Funding in startups in Vietnam was down 17 percent to US$529 million last year according to a report by Dove Ventures. The big winners were healthcare and education startups which recorded increases of 391 percent and 107 percent respectively.
Bank of America expects dong to slide another 1 percent in 2024
The Bank of America is expecting the Vietnamese dong to slide by another 1 percent by the end of the year, CNBC is reporting. According to the publication, the BofA made the assessment based on “Vietnam’s political instability following the second presidential resignation in two years as well as difficulty
This forecast from VinaCapital’s chief economist
Vinacapital has released an ‘Economist’s Note’ detailing challenges facing Vietnam’s gold market and exchange rate. It identifies the two key issues facing the dong as the stronger US dollar and the high local gold price. On the latter, it says this is increasing gold smuggling which is increasing demand for
Vietnam solar project struggles after project approval breaches
A power generator in Southern Vietnam has reported that key infrastructure projects it is working on are at risk of being delayed as a result of the state power provider, EVN, failing to pay for the power it has provided, VN Express is reporting. The problem appears to have been
Novaland lost VND 462 billion because of the exchange rate?
Embattled Vietnamese real estate developer, Novaland, has reported a first quarter loss of VND 601 billion or US$23.7 million, VN Express has reported. Of note, earlier this year Novaland reported an after tax profit on its unaudited financials statements of 685 billion or US$27 million, however, after being audited it
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
In today’s news: 2G services to end September 15, Rising deposit interest rates, Samsung earnings H1, Chinese hot pot chain performance, Battery storage ambitions,
In today’s news: ForEx regs overseas investments SOEs, VinFast GSM 5m unit agreement, US cotton shipments to VN, Samsung semiconductor build-out VN, Tay Ninh
In today’s news: Japan-VN asset tie-up, Import tax refund guidance, Instant noodle consumption, AI plans, SSC + S&P Dow Jones execs meet in NY,
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