Manufacturing & Industry
This category focuses on industrial production, from electronics and textiles to automotive and heavy industry. It covers FDI trends, supply chain developments, factory expansions, and government regulations shaping the industrial landscape. As a key driver of economic growth, manufacturing plays a crucial role in global supply chains, technological advancements, and industrial competitiveness.
UK Pork approved for export to Vietnam
Of note, back in March it was reported that the a submission had been made by Vietnamese meat producers to the Government of Vietnam requesting additional technical barriers on imported meats. This was necessary, they argued, to level the playing field with other meat producing countries.
Vietnam News Roundup: May 17 to May 23
This week’s Vietnam news roundup covers the latest news on Vietnam’s foreign reserves, updates on VinFast’s mounting troubles in the US, conflicting claims over electricity conservation, the USDA trade mission to Vientam, bad debts, open market operations, and more.
Vietnam rare earth mine owner seeks partner for mine exploitation and more
The company, Lavreco, which is a subsidiary of Vinacomin-Minerals Holding Corporation which is part of state-owned miner Vinacomin, has had the licence on the mine for over ten years but progress has been slow. Of note, the company recorded revenue of just US$9,800 in 2022…
Unpaid taxes blamed on late payment from Electricity Vietnam
EVN was selling electricity at a loss for most of last year and 2022 and the start of this year too. This saw the state-owned enterprise accumulate losses of over US$1.5 billion. It has never been made clear how these losses have been covered but, in light of these claims, it could very well be that power producers may be footing the bill.
Vietnam issued regulations for e-wallets, cryptocurrency
Authorities in Vietnam have been talking about regulating cryptocurrency for some time. Definitive regulations, however, have been somewhat elusive with parties engaged in the cryptocurrency trade relying on a patchwork of other regulations–digital payments guidelines, for example, to guide the industries development…
Vietnam minimum wage regions to change at next wage hike
The four regions by which Vietnam defines what minimum wage should be paid where, are to be updated this year when the minimum wage rises in July. This will see several local government areas move up a bracket giving an extra boost to minimum wage workers in these areas. Moving
Netflix takes down video games in Vietnam at MIC request
Netflix and the MIC have been at loggerheads for years now over compliance with the Cybersecurity Law with Netflix resisting demands from the MIC to open a local office. It’s not just Netflix either. The MIC wants all cross-border service providers to have a presence in Vietnam, ostensibly so that the ministry can better enforce its…
Apple deleted 5,000+ Vietnam apps mostly for fraud, one at gov’t request
Just one app was also removed in 2023 for beaching Vietnam’s Cybersecurity Law. This law requires cross border service providers like streaming sites and online video game distributors to open local offices and store data locally. That said, with just one takedown request for the whole of last year (for comparison in China it was 1,285) enforcing this law in Vietnam looks to be shaping up as…
Vietnam Electricity denies Apple supplier asked to reduce power use by 30 percent
EVN has said reports it had asked Apple supplier Foxconn to voluntarily reduce its power use by 30 percent, are incorrect. The original source of the report was a Reuters article based on information provided by ‘two people familiar with the matter’. In the interests of deciphering what’s true and what’s not, there are a few points to consider…
Vietnam’s Land law 2024 for Foreign Investors
Last year, a revised Law on Land passed Vietnam’s National Assembly. This revised law has the potential to have a huge impact on Vietnam’s land market and could speed up foreign-invested projects considerably. With this in mind, this cheat sheet runs through the key changes in the new Law on Land and how this might impact foreign firms doing business in Vietnam.
Total bad debt of 28 Vietnam banks up 14 percent at end March
Back in December banks went on a lending frenzy as they tried to make up for lacklustre credit growth throughout 2023 by cramming it all in at the end of the year. This saw very aggressive marketing campaigns take place and this led credit to…
Concerns raised in Vietnam over cheap steel imports from China
Needless to say, local producers have cried foul and argue that Chinese steel is being dumped on the Vietnam market. They have reportedly requested that the Ministry of Industry and Trade initiate an anti-dumping investigation…
Postponement of anti dumping duties on solar panels from Vietnam to come to an end in June
Of note, in a Department of Commerce hearing a couple of weeks ago, the core argument made by opponents of Vietnam’s redesignation as a market economy, was that Vietnam was being used as a conduit for Chinese goods looking to circumvent US trade restrictions. In this context, this latest development, especially in an election year, could speak to the thinking at the White House on the matter, in that it may not want to be seen as allowing this sort of thing to happen and, by extension, may also not want to be seen as supporting Vietnam’s efforts to be designated a market economy.
Vietnam’s VinFast runs into trouble in the US over unpaid rent
Of note, a lot of the challenges VinFast has faced entering the US market can largely be traced back to fundamental differences between doing business in Vietnam and doing business in the United States, and a failure to properly understand the differences…
Total forex reserves spent keeping the dong steady reach US$2 billion: ACB
This is a significant jump from last Wednesday when ACB estimated that the bank had spent just US$900 million. Of note, Vietnam is cagey about its foreign currency reserves and does not regularly publish forex data. It does, however, periodically communicate what it has on hand with the International Monetary Fund. The last report from the IMF, in September of 2023, recorded forex reserves of…
Apple supplier Foxconn has been asked to reduce its power use in Vietnam
Promoting power conservation is not a new concept. This happens just about everywhere in the world. That said, what should be concerning is the volume of power Foxconn is being asked to cut. Whereas a firm might be able to save a few kilowatts here or there, it would be very unusual for a firm to be operating with an inefficiency in their power use of 30 percent.
Vietnam bank-lending growth far from target at 1.6 percent
Whereas in the past credit growth for individual lenders has been set at the start of the year and increased as needed–but ensuring overall credit growth doesn’t go over a set limit–this year all stops have been pulled out. The State Bank has set the limit–although it’s more of a target at this point–at 15 percent overall but said banks are free to lend as they please with no institution-specific caps.
Vietnam real estate news outlet fined, licensed revoked for misquoting sources
In Vietnam, the Law on Press distinguishes between different kinds of media outlets with varying degrees of newsgathering permitted and subsequently government control. CafeLand looks to have been licenced as an ‘electronic magazine’ which is, more-or-less, a trade publication. It had, however, per the assessment of the Department of Information and Communications of Ho Chi Minh City, extended its operations beyond its remit, becoming more like a news outlet and engaging in more extensive newsgathering.
Drivers avoid Vietnam smart carpark on comparatively high prices
Vietnam’s cities have a carpark problem. Built around motorbikes most cities are cramped with narrow streets and very little room to park a car. Car numbers, however, have continued to grow and as a stop-gap vehicles are being parked just about anywhere space can be found.
Ground broken on second terminal at airport in Vietnam capital
For context, at the end of last year, the President of Vietnam Airlines noted that overcrowding at Vietnam’s airports was costing the national carrier US$20 million a year. Indeed, overcrowding has become a huge problem–Tan Son Nhat International Airport in Ho Chi Minh City was built for 28 million visitors a year but welcomed 34 million arrivals in 2022. Similarly, Hanoi’s Noi Bai International Airport was built for 25 million visitors a year but was expected to finish 2023 with 30 million arrivals.
In today’s Vietnam news: GS TL on AI, Saigon Economic Times last issue, Fuel prices cut, Vinhomes issuing more bonds, Counterfeit Korean cosmetics store,
In today’s Vietnam news: Power supply imports, Hanoi boulevard project protests, Antidumping duties coming for boxes, Maersk container terminal project Hanoi, Vinpearl foreign investment,
In today’s Vietnam news: Credit limits removed for some major projects, Estonian web security company market entry, Vingroup’s Vuong becomes major shareholder LP Bank,
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