Author: the-shiv
Vietnam’s coal mining culture lauded amid key energy-transition announcement
Coal mining is ‘a great part’ of Quang Ninh province’s cultural identity, Vietnam News reported Sunday just days after the government revealed its Just Energy Transition Partnership roadmap at COP28. A couple of points of note: One, it’s not clear if this was a conscious decision or simply circumstantial, but
Claims for unemployment benefits in HCMC fall in November
Only 13,300 people were registered to receive unemployment benefits in HCMC in November, a drop of nearly 25 percent from June, VN Express is reporting. The publication is saying that this is a sign that the wave of layoffs that have plagued the manufacturing sector may have slowed this year.
Vietnam’s Economy, November 2023: Snapshot
Vietnam started November with state media boasting that the country had overtaken South Korea to become the 6th biggest trading partner of the US by import value. This was, however, on closer inspection, old news with the jump actually taking place in 2022. That’s not to say this report was
Vietnam’s Stock Market, November 2023: Snapshot
Vietnam’s stock market started off November on an uncomfortable footing. Allegations of stock market manipulation had led to the authorities announcing a crackdown on the practice though details of exactly how this ‘crackdown’ would play out on a practical level were scant. That said, it was not unexpected. The head
VN-Index up 8.03 ( +0.73 percent) to close at 1,102.16, December 1
The VN-Index has finished the day up 8.03 points or .73 percent to close out the week at 1,102.16 points. Foreign traders continued to net-sell today, withdrawing an additional US$12.7 million from the market. For the week on the whole, traders net sold US$29 million. Banking and real estate stocks
Thai firm to build industrial park in central Vietnam
Thailand’s WHA Industrial Development has been approved to build a US$55 million 178.51 hectare industrial park in central Vietnam’s Than Hoa province, The Investor is reporting. This will be WHA’s second industrial park in Vietnam. The first is located in Nghe An, next door to Thanh Hoa.
Japanese home-furnishing retailer to set-up shop in southern Vietnam
Nitori, a home-furnishings retailer from Japan is set to open its first in Vietnam’s Binh Duong province, in winter of this year, Japan Today is reporting. Vietnam has become popular among Japanese retailers keen to tap into Vietnam’s rapidly expanding middle-class. Other big Japanese retailers with a presence in Vietnam
State Bank of Vietnam adjusts credit growth limits up
The State Bank of Vietnam (SBV) will increase the credit growth limits of banks that reach 80 percent of their current cap, Vietnam News is reporting. Credit growth this year has reached just 8.21 percent well below the 14.5 percent target for the year. The argument for the increase for
Vietnam’s manufacturing sector continues to contract as new orders fall
The S&P Global Vietnam Manufacturing Purchasing Managers’ Index has hit a five-month low of 47.3 this month down from 49.6 in October. Anything below 50 is considered a contraction. S&P Global’s press release notes that there has been: A scaling back of production, An uptick in cost pressures, Resistance from
VN-Index -8.67 points (1,094.13) at close, November 30
The HoSE closed Thursday at 1,094.13 points down 8.67 points or -0.79 percent from the day before. Foreign traders continued to net-sell to the tune of US$15.8 million. Aside from the regular faces among the top five traded stocks among foreign investors, Hoa Phat Steel, VP Bank, and Vinhomes were
Foreign-invested exporters leave Vietnamese firms in dust in 2023
From January 1 to November 15 this year foreign invested enterprises recorded a trade surplus of US$43.49 billion whereas Vietnamese firms recorded a deficit of US$19.05 billion, The Investor is reporting. This speaks to Vietnam’s dependence on foreign firms in its export sector but also the vastly different operating environments
Head of ANZ Group meets with Deputy PM in Hanoi
Shayne Elliott the Chief Executive Officer of ANZ Group met with Deputy Prime Minister Le Minh Khai in Hanoi this week, state media is reporting. The article goes on to outline what the Deputy PM asked of ANZ but fails to mention what ANZ asked of the Deputy PM. It
Outlook stable for Vietnam’s non-life insurance segment: AM Best
Global credit rating agency focused on the insurance sector, AM Best, has said in a press release that the outlook for Vietnam’s non-life insurance sector is stable, despite a recent bancassurance scandal. It says that updates to the Insurance Business Law this year should strengthen risk management in the sector
3rd advertising violation in Vietnam earns intl. ad agency US$1,442 fine
International advertising agency Group M has been fined US$1,442 for ads it ran on Youtube that contained content in breach of Vietnam’s cyber security law, VN Express is reporting. The article does not specify which ads or what the ads contained but does say they were for Procter & Gamble
VN-Index gains 7.37 (+0.67%) to close at 1,102.80, November 29
The VN-Index climbed higher today, moving up 7.37 points or .67 percent to finish the session at 1,102.80. Foreign traders returned to net-selling shedding US$4.1 million worth of stocks. Most popular among foreign investors today were Vinhomes (VHM) and Mobile World Group (MWG). Trades by foreign investors HoSE November 29
Vietnam’s value-added tax reduction extended
A 2 percent reduction in Vietnam’s value-added tax has been extended to June next year, VTV is reporting. The stimulus measure first introduced during COVID has been extended multiple times as Vietnam’s economy first struggled to recover from the pandemic and is now battling a greater global economic downturn.
Amendments to real estate business law pass Vietnam’s National Assembly
An amended real estate business law has officially been approved by the National Assembly of Vietnam, The Investor is reporting. Set to take effect from January 2025, the amended real estate business law has a few key changes developers and real estate firms should be aware of. These include: Developers
Taiwanese firm looking to establish electronics factory in north-central Vietnam
Radiant Opto-Electronics Corporation from Taiwan has submitted plans to build a US$120 million factory to contribute to its backlight module supply chain in Vietnam’s Nghe An province, The Investor is reporting. The factory is set to cover 8.2 hectares and should be operational by the end of 2024.
Japanese firm opens solar cell factory in northern Vietnam
A subsidiary of Japan’s Vsun Solar has inaugurated a US$200 million factory in Phu Tho in northern Vietnam, The Investor is reporting. Covering 13 hectares the project will reportedly employ 700 people when it reaches peak capacity.
Global Minimum Tax legislation passed in Vietnam, to start Jan 2024
A top-up tax has been approved by Vietnam’s National Assembly and will see corporate income taxes raised to a minimum of 15 percent in the country, Reuters is reporting. This will take effect from January 1 next year. Legislation set to provide alternative benefits to corporate firms operating in the
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