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Author: the-shiv

Vietnam Airlines pursuing loan payment deferral from National Assembly

Whereas there may be an argument to be made for supporting the national carrier in events outside of its control, in the current circumstances there should be some pause for thought. That said, the airline is a huge operation with lots of moving parts, lots of ancillary businesses that rely on its continued operation, and lots of employees that rely on the airline for their paycheck–it’s unlikely the National Assembly will deny the airlines’ request…

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Vietnam consumers hold off on buying new cars waiting for cut in registration fees

For some context, registration fees can vary between provinces, however, the highest it can be, per Circular 229, is VND 20 million or about US$786. With a 50 percent discount that’s VND 10 million or about US$393. With a new car running at around VND 300 million to VND 500 million this reduction in registration fees is a drop in the bucket. In this context, one reading of this might be that correlation does not necessarily mean causation. It could also be, however, that the love for a good discount in Vietnam is not always entirely rational…

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Taiwanese Apple supplier Wistron set to increase investment in Vietnam

Driven by the US-China trade war and political tensions, Taiwanese tech companies like Wistron have been diversifying out of China and increasing their investments in Southeast Asia, particularly Vietnam. Other major Taiwanese Apple suppliers like Foxconn and Pegatron, for example. There are a number of reasons for this…

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Porsche + Singapore EV charging solution provider to build charging network in Vietnam

Notably, Vietnam’s EV charging network is mostly owned by VinFast, a subsidiary of Vietnamese conglomerate Vingroup. The firm has already developed more than 150,000 EV charging ports nationwide but currently restricts access exclusively to its own EV users. The participation of Charge+ in expanding the charging network for other electric vehicle brands in Vietnam could help reduce difficulties for Chinese EV producers entering the Vietnamese market…

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Vietnam News Roundup: June 21 to June 27

This week’s Vietnam news roundup covers the latest in US dollar Forex spending, Vietnam’s position on the US currency manipulator watchlist, garment and textile manufacturing performance, isotopic testing challenges for Vietnam’s garment industry, Vietnam’s ratification of the UK’s ascension to the CPTPP, the latest foreign trader stock market investment numbers, and more…

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Vietnam stock Index could increase 35 percent before end 2024: Finnish investment fund

It’s worth noting that a lot of Vietnamese firms are carrying a lot of debt and there is increasing pressure on the local currency that is only being kept at bay through issuing treasury bills and spending US dollar reserves which are being run down pretty quickly. The point being, that It wouldn’t take much for the State Bank to raise interest rates and if that were to happen it would likely do some pretty hefty damage to the VN-Index…

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Minimum Wage in Vietnam 2024: Your Questions Answered

Vietnam’s minimum wage is an attractive drawcard for businesses in a broad range of industries. Among the lowest in Southeast Asia, foreign firms may be able to realise real value by making the most of this low-cost labour. That said, the minimum wage should not be conflated with the average

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Vietnam bonds outstanding lowest in Southeast Asia: ADB data

Vietnam had just US$115 billion worth of outstanding government, corporate, and central bank bonds, in the first quarter of this year, according to the Asian Development Bank’s Asia Bond Monitor report for June. This is the lowest value of outstanding bonds among other key Southeast Asian economies. This could be a sign of economic prudence, however, it could also be a sign that Vietnam is under investing in its own development. That being the case, this could threaten Vietnam’s competitive edge in the region further down the track…

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IMF wraps up Vietnam mission, key takeaways from team lead statement

The International Monetary Fund has wrapped up a four day consultation in Vietnam led by the intergovernmental body’s Paulo Medas. The consultation included meeting with the State Bank, Prime Minister, Ministry of Finance and a handful of other government agencies. A statement from Medas at the conclusion of the consultation has several noteworthy points, including…

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Vietnam May corporate bond payments delayed, amid ongoing real estate capital challenges

Most of these companies were in the real estate sector which fits with a broader narrative around the struggles of managing capital in the sector in recent years. For example, foreign investment has declined and consumer prepayments for residential real estate properties have dried up. This is part of much bigger challenges facing real estate in Vietnam that have been ongoing for years. This latest tranche of delayed bond payments would suggest it may go on a while longer too…

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German adhesives giant opens second application center in Vietnam

This new application center aligns with a trend of foreign businesses opening new factories in Vietnam. Over the past two years, several big names, such as Foxconn, LEGO, Amkor Technology, and PepsiCo, have all launched new factories in Vietnam, with a positive impact on Vietnam’s industrial land market, even amidst a slowdown in the real estate market more broadly…

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Nuclear Power in Vietnam: Unpacked 2024

During a state visit by the president of Russia to Vietnam last week, Vietnam’s Prime Minister told the Russians that Vietnam would consider nuclear energy as a means of meeting the net-zero 2050 commitment it made at COP26. Indeed, Vietnam needs more low-emissions electricity, but is nuclear power really a plausible solution?

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Vietnam Stock Exchange reports first fall in profit since inception

Last year was not a great year for the Vietnam Stock Exchange. Interest in the market as a means of raising capital was lacklustre with just three IPOs completed by the end of November worth just US$7 million. Furthermore, foreign investors exited the market to the tune of over US$1 billion as greater global uncertainty weighted heavily on the local bourse.

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Vietnam’s Pacific Airlines returns to the sky, sheds budget carrier image

Of note, aside from keeping Pacific Airlines’ aviation licence, which requires the airline to have aircraft, it’s not clear why Vietnam Airlines is keeping Pacific Airlines alive. As a budget carrier it made some sense as competition to Vietnam’s biggest budget carrier Vietjet. These recently announced upgrades to Pacific Airlines, however, look to put the carrier in the mid-range segment which would make it direct competition with its parent company…

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Perks of CPTPP one step closer for UK with Vietnam ratification

Notably, Vietnam and the UK already have the UK Vietnam Free Trade Agreement which is almost identical to the European Vietnam Free Trade Agreement. In this light, the CPTPP will not make a huge difference to bilateral trade between the two countries. That said, there will be a few additional advantages including…

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Spain renewables giant looking at central provinces for Vietnam expansion

Of note, a combination of favorable climate conditions, supportive government policies, and rising demand has made Vietnam a promising market for renewable energy development in recent years. In particular, southern Vietnam has high solar irradiance and strong, consistent winds. The average annual sunshine duration in Khanh Hoa province is 2,600 hours per year, while Ninh Thuan province has the most hours of sunshine in a year, in Vietnam, reaching up to 2,800 hours…

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Vietnam construction firm bucks industry downturn with new foreign invested projects

Coteccons has performed relatively well over the last year or so, despite industry challenges due to a border slowdown in the real estate market. Notably, it has won several key industrial construction contracts for foreign businesses like LEGO, Foxconn, and Pandora. Furthermore, Coteccons is reportedly heading up construction of factory projects in India and Indonesia for electric car maker VinFast…

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Heineken to halt making beer at central Vietnam factory on declining sales

This is on the back of declining sales that the firm is attributing to broader economic challenges but also Decree 100 which reduced the allowed blood alcohol content when driving in Vietnam to zero. Decree 100 has repeatedly fallen into the cross-hairs of local alcohol producers, distributors, and retailers in Vietnam over the last year or so…

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Vietnam’s Masan Group refutes claims SK Group has exercised put option

In 2018, SK group bought 109.9 million shares in Masan Group for VND 100,000  or US$4.29 per share for a total of just over US$470 million. Masan, which trades under the ticker MSN, closed at VND 76,200 or US$2.99 Friday valuing the company’s holding at about US$328.6 million. A sizable loss if sold at current prices. SK Group, however, reportedly has a put option whereby it can sell its shares back to the firm at the price in paid back in 2018. It seems unusual that SK Group would not exercise this option under the current circumstances…

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Logistics in Vietnam: Ultimate Guide (2024)

Logistics in Vietnam are becoming more and more important to Vietnam’s economy. This is in line with booming international trade, the result of a myriad of free trade agreements combined with an abundance of low-cost labour, and generous tax incentives. In fact, last year Vietnam recorded nearly US$700 billion in

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