Author: the-shiv
VN-Index down 4.94 (0.44 percent) to close at 1,121.49, December 7
The VN-Index has finished the day down 4.94 points or .44 percent to close at 1,121. 49 points. Foreign traders, however, continued to exit the market taking a net US$33.6 million out of the local bourse. Foreign investor trading activity on the HoSE, December 7 Buy Sell Change Date VND*
Vietnam wind power project up for grabs in mortgagee auction
Vietnam’s Agribank is auctioning off the Phong Dien 1 wind power plant with a starting price of VND1,205 billion (US$49.6 million) after the firm behind the project Vietnam Renewable Energy Engineering (VREE) failed to meet its debt obligations , The Investor is reporting. Background: Wind power producers were offered very
Japan to process scallops in Vietnam after China bans seafood imports
Japanese scallop producers are considering shifting their processing operations from China to Vietnam after China banned the import of Japanese seafood over the release of treated water from the Fukushima nuclear power plant, The Japan News is reporting. An estimated 30,000 to 40,000 tons of scallops from Japan were processed
European insurance firm predicts Vietnam top-up tax to have minimal impact on FDI
Vietnam’s recently passed top-up tax, a response to the Global Minimum Tax, should not impact how attractive Vietnam is to foreign firms, according to Raphaël Cecchi, an analyst with European credit insurer, Credendo. It may, however, “slightly hit Vietnam’s reputation” as a low-tax jurisdiction for foreign firms, he says. He
Chinese president rumoured to be headed to Vietnam next week
The Chinese President, Xi Jinping, could be in Hanoi next week for two days, Bloomberg is reporting. This has been on the cards for sometime and likely a response to a visit from the President of the United States to the Vietnamese capital in September. Politically tied to China, economically
VN-Index up 10.46 points to close at 1,126.43, December 6
The HoSE closed up 10.46 points or .94 percent Wednesday, finishing the day at 1,126.43 reversing yesterday’s fall. Foreign traders continued to net-sell pulling US$22.5 million from the market. Foreign trader activity on the HoSE, December 6 Buy Sell Change Date VND* US$ VND* US$ VND* US$ 30/11 1,184 $48,766,474
Zing News is back online rebranded as Z News
Popular news website Zing News is back online but has been rebranded Z News. The publication was forced to suspend operations for three months after it ran afoul of Vietnam’s censors. Specific details as to what it did wrong were not made public, however, there was some speculation that it
Japanese firms enter affordable housing market in Vietnam
Two Japanese firms, Cosmos Initia and Koterasu, have partnered-up with Vietnamese firm TTCapital Investment, to build affordable housing in Vietnam, Tuoi Tre is reporting. This is of interest in that the demand for affordable housing far outstrips demand for mid-level apartments, yet most development and investment has been focused on
Car sales decline sees budget revenues slashed in northern Vietnam province
Last year, Vietnam’s Quang Nam province recorded tax revenue of VND 31,781 billion (US$1.3 billion), however, this year it is expected to record tax revenue of just VND 23,951 (US$986 million), Tuoi Tre is reporting. This has been attributed to a substantially reduced contribution from automaker Truong Hai Group, which
Vietnam coffee exports to fall on smaller crops, higher local demand
Vietnamese farmers are cutting down coffee plants and growing durians and avocados instead, and this, alongside growing local demand for coffee, may see Vietnam’s coffee exports decline, according to Ha Nam, deputy chairman of the Vietnam Coffee Cocoa Association, Bloomberg is reporting. See also: Snapshot: Vietnam’s Coffee Industry, October 2023
Vietnamese eager to sell goods immediately agreeing to sub-par trade terms
Vietnamese firms are at ‘high risk of scams and disputes’ but lack the knowledge necessary to successfully engage commercial dispute resolution mechanisms, Vietnam News is reporting. The article references Vu Chien Thang, Trade Counsellor of Vietnam in Spain, who essentially says Vietnamese firms are being scammed because they are looking
VN-Index falls 4.52 points (-0.40 %) to close at 1,115.97, December 5
The VN-Index closed down Tuesday by 4.52 points or 0.40 percent, leaving the index at 1,115.97 points. Foreign traders continued to exit the market en masse with a further US$64.2 million net-withdrawn from the market. This is on the back of US$23.9 million net-withdrawn yesterday. Foreign investor trading activity on
Swedish engineering group opens first factory in southern Vietnam
Sweden’s Trelleborg Group has inaugurated its first factory in Vietnam in southern Vietnam’s Dong Nai province, The Investor is reporting. Covering 8,000 square metres will create parts for the global automotive and industrial sectors. Trelleborg also announced earlier this year it planned to build a US$37 million factory in Ba-Ria-Vung
Vietnamese that study overseas frustrated at inability to find post-grad work outside Vietnam
VN Express is carrying an article about Vietnamese students that go overseas to study but can’t find work after they graduate. Interviewees lament in the article that recruiters prefer local graduates who understand the market better. This speaks to changing attitudes in Vietnam toward studying overseas. Whereas there is still
Intra-Asian shipping from Vietnam experiences boom on shift out of China
Whereas the global shipping industry is facing a downturn there has been a marked increase in shipping between Asian states, QZ is reporting. This is being driven by the diversification of supply chains. Key data points: Vietnam has 13 direct shipping routes to the US in 2019, it now has
Government probe launched into Vietnam’s central bank re: credit growth
Over the weekend it was announced that there would be a government probe into the State Bank of Vietnam’s (SBV) handling of the country’s credit growth, Tuoi Tre is reporting. This was in response to complaints that credit was not growing fast enough. The target is 14 percent, however, as
VN-Index adds 18.33 (+1.66 percent) to close at 1,102.16, December 4
The VN-Index closed Monday 18 points or 1.66 percent up to finish at 1,102.16. Foreign trading data was not available at time of publication. To catch-up on what’s happening with Vietnam’s stock market see: Vietnam’s Stock Market, November 2023: Snapshot
Government procurement floated as means to grow Vietnam supporting industries
VN Express is carrying an article about Vietnam’s supporting industries, or lack thereof, amid booming exports. Of interest, is one particular solution put forward by Pham Chanh Truc, former head of the Saigon Hi-tech Park. “The government has to create a market by ordering goods from domestic businesses. After some
Vietnam PM courts UAE for support developing financial centre in HCMC
Prime Minister of Vietnam Pham Minh Chinh has asked the United Arab Emirates for support building an international financial centre in Ho Chi Minh City, VN Express is reporting. The article does not make clear what the UAE’s responded was, however, Vietnam’s key stock exchange in Ho Chi Minh City
Vietnam’s Just Energy Transition Partnership released at COP28
Vietnam revealed its Just Energy transition Partnership agreement on Friday at COP28, with the bulk of the funding to be provided in the form of loans for hydropower projects, Climate Home News is reporting. The agreement is mostly made up of loans as opposed to the grants that Vietnam wanted,
In today’s Vietnam news: Internet cafe opening hours restricted, Crypto transfers tax, Proposal courts investigative power reduced, WB upgrade VN to UMI status, Fuel
In today’s Vietnam news: MB Securities fined off-book margin lending, Borrower capacity proof limit lifted, Counterfeit shampoo and body wash, Electronics retailer IPO, Investors
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
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