Author: the-shiv
New deal: Shinhan Bank Vietnam to offer corp. clients Samsung insurance
Shinhan Bank Vietnam and Samsung Vina Insurance Company have signed a deal for the former to offer the latter’s property insurance products to its corporate clients, Vietnam News is reporting. Why it matters: This is positive news for insurance companies and bancassurance agreements which have been under increased scrutiny this
Soju manufacturing plant headed to northern Vietnam
Soju maker HiteJinro is planning to build a US$100 million soju factory in northern Vietnam’s Thai Binh province, The Investor is reporting. This will be the Korean firm’s first overseas plant and will serve its broader global expansion plans. Soju is becoming increasingly popular in Vietnam and is broadly available
🇻🇳 VN-Index down 13 points to close at 1,141.42 October 16
The VN-Index finished Monday down a little over 13 points or 1.15 percent, according to Ho Chi Minh Stock Exchange Data. Saigon – Hanoi Commercial Bank (SHB) was the most traded stock for the day with over 30 million shares in the bank changing hands. The bank finished the day
Embattled real estate firm FLC to pay US$3.3 million in overdue taxes
The Hanoi Tax Department has found that property developer FLC has US$3.3 million owed in back taxes, VN Express is reporting. The publication also notes that FLC hasn’t released its financial reports since the fourth quarter of 2022. FLC’s chairman was arrested for stock manipulation back in March 2022 and
Vietnam’s largest rare earth mine’s 2022 revenue less than US$10K
Lai Chau-Vimico Rare Earth, which owns the largest rare earth mine in Vietnam reported revenue of just VND 240 million (US$9,800) in 2022, The Investor is reporting. The mine has reportedly been in operation since 2008 with varying degrees of success–2021 was a markedly better year with revenue of VND
Stock market to continue to climb this week: Vietnam News
Vietnam News is predicting that the stock market will continue to climb this week but the publication does not make clear how it has come to this conclusion. It does, however, carry comments from an executive at VNDirect, who says that low deposit interest rates as well as ongoing challenges
AstraZeneca has been approved to transfer tech to Vietnam
Vietnam’s Ministry of Science and Technology (MoST) has approved the transfer of AstraZeneca technology and processes to Vietnamese partner the Medochemie Company, Scandasia is reporting. This transferred technology will be used to produce drugs in Vietnam to international standards . FYI: Whereas China often insists that firms transfer technology to
🇻🇳 SBV T-bond issues in last 30 days reach US$8.1 billion
The State Bank of Vietnam issued VND 20 trillion (US$817 million) in bonds on Friday bringing the total for the last 30 days to US$8.1 billion, per the SBV website. This is the 17th tranche of bonds issued since the SBV embarked on a t-bill issuing spree to shore up
VN-Index up 3 points to 1,154.73 at close October 13
The VN-Index inched up ever so slightly Friday to close out the day a fraction higher than it was at the start of the week, Vietnam News is reporting. The state-run news says local investors added VND 14 trillion (US$572.5 million) to the local bourse, however looking at the raw
Vietnam golf courses raking in cash on limited supply
Vietnam could have between 400 to 500 gold courses by 2030, up from 100 at present, VN Express is reporting. This rapid growth is expected as a result of eased investment procedures, according to Ngo Cong Thanh, a former deputy director of the Ministry of Planning and Investment’s planning management
Vietnam new car sales down year-on-year
A total of 23,993 new cars were sold in Vietnam in September, a 17 percent drop over the 28,757 new cars sold in September of last year, according to the Vietnam Automotive Manufacturers Association (VAMA), and reported by Just-Auto. This brings total new car sales for the year to the
German adhesives maker inaugurates new factory in northern Vietnam
Tesa, a tape and adhesives maker from Germany, has opened a new factory in northern Vietnam’s Hai Phong province, The Investor is reporting. The new factory has come at a cost of US$58 million and has the capacity to produce up to 49 million square meters of tape each year.
VN-Index up 0.8 points to 1,151.61 at close October 12
The VN-Index inched up slightly Thursday with TPBank, Vingroup, Vinamilk, and Saigon Beer all making notable gains, VN Express is reporting. Foreign firms, however, sold almost twice as much as they bought, exiting the market to the tune of US$27 billion. Foreign investor trades on HOSE October 12 Buy Sell
Power shortages in Vietnam possible up to 2050
A report produced for the National Assembly Standing Committee on energy development in Vietnam has found that the country could experience power shortages up to 2050, VN Express is reporting. The article notes this will be most problematic in the near term in the north, and that this will see
US firm opens new chip factory in northern Vietnam
American chip maker, Amkor Technology, has officially opened its newest, US$1.6 billion factory in Vietnam, The Investor is reporting. The factory will provide packaging and testing services to global semiconductor and electronics manufacturing firms. Why does it matter: the-shiv noted at the start of September that a White House fact
Vietnam’s biggest oil refinery is back in business after maintenance closure
Vietnam’s trouble-plagued Nghi Son refinery is set to restart operations after a weeks-long closure for maintenance work, Reuters is reporting. The refinery is looking down the barrel of a US$1 billion loss this year on the back of volatile prices, interest payments, and production delays due to maintenance. Why it
VN-Index up 7 points to 1,150.8 at close October 11
Large caps in the oil sector gained yesterday lifting the local bourse overall, Vietnam News is reporting. Foreign firms trading on the Ho Chi Minh City Stock Exchange, however, only slightly shifted their position net buying less that US$1 million worth of stocks. Foreign investor trades on HOSE October 11
Domestic gold price currently trading at US$606 over world gold price
Gold bars in Vietnam are trading at VND 69.7 million (US$$2,853), VND 12.8 million (US$606) higher than the world gold price of VND 54.8 million (US$2,243) per tael, VN Express is reporting. Why it matters: To alleviate pressure on the dong, the State Bank of Vietnam has been issuing treasury
Cross-border firms with local offices face stricter supervision, more red tape
Concerns have been raised that foreign cross-border service providers may be reluctant to open local offices in Vietnam due to the recent investigation of TikTok by the Ministry of Information and Communications (MIC), Vietnamnet is reporting. The article notes that the MIC has set out to assuage these concerns with
Results of AMRO Annual Consultation with Vietnam are imminent
The ASEAN+3 Macroeconomic Research Office has pre-empted the release of its annual consultation report with Vietnam with this press release. Key takeaways: Vietnam’s economic growth in the near term remains fragile; The rate at which Vietnam’s population is ageing could weigh on medium-to-long-term growth potential; A drop in liquidity in
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