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.
Vietnam’s gold auction rules change but still not a great investment
The State Bank of Vietnam is still trying to auction off gold to bring down the gold price, despite several failed auctions amid an overheated gold market. This latest gold auction has 16,800 taels of gold up for grabs in lots of 500 taels down from 700 in past auctions,
Fact check: Do 21 percent of Vietnamese really own crypto?
A report compiled by Triple-A, a Sinagpore based digital currencies payment provider, has suggested that 21.2 percent of Vietnamese own crypto currencies. This has been widely reported in the media both abroad and in Vietnam, however, this seems far fetched–about 44 percent of Vietnamese are unbanked and just 6 percent
Cutting the 48 hour work week back in the news in Vietnam
Overtures have been made by the Vietnam General Confederation of Labour–the VGLC–to the Ministry of Labor, War Invalids and Social Affairs to reduce standard working hours below the current 48 hours a week. This was announced back in January, however, in recent weeks the idea has gained traction with local
Reports workers are resigning in anticipation of changes to social security
Worker retention has become a problem at some firms in Vietnam due to pending changes to the ability to access social insurance before retirement. Currently, workers can choose to take a one-time payout if they are out of work for more than a year. There have, however, been reports that
State Bank to audit income, assets of 58 bank workers selected at random
The State Bank of Vietnam has selected 58 workers in the banking industry through a random lottery that will be audited as part of moves to clamp down on corruption in Vietnam’s central bank. The bank will review the employees’ income and assets to make sure that they are not
South Korean firm breaks ground on bioplastics plant in Hai Phong
SKC Limited, a part of South Korea’s SK Group, has broken ground on a bioplastics plant in northern Vietnam’s Hai Phong province in line with increasing plastics production among foreign firms in Vietnam. The plant will produce an estimated 70,000 tons of biodegradable plastics a year starting from the second
English-certificate providers run afoul of Vietnam’s education regulators
Vietnam’s Ministry of Education has found that 146,600 English language learners in Vietnam have International English Language Testing System–known more commonly as IELTS–certificates that were ‘inappropriately issued’. In short, a change in regulations meant that foreign language certificate issuers would need to get approval from the Ministry of Education to
Vietnam Airlines doesn’t want to use HCMC’s new airport
Vietnam’s national carrier, Vietnam Airlines, has said that it would prefer to stay at what is currently Ho Chi Minh City’s only international airport, Tan Son Nhat, when a second airport at Long Thanh is completed. It is essentially arguing that airport transfers will be more challenging–currently, it’s possible to
Vietnam airfares investigation finds no price gouging
A review of airline ticket prices by the Vietnam Aviation Administration has found that domestic airlines have not breached pricing regulations. The airfare regulator put out the call last week for consumers who felt they had overpaid for airfares. After a brief investigation, however, they have found that airfares prices
HSBC doesn’t think there will be a rate rise this year in Vietnam
HSBC has reportedly said that a rate rise in Vietnam this year is unlikely on the back of broader challenges facing the local economy, according to local media. Fitch Solutions, on the other hand, said last week it is expecting a cut to interest rates in Vietnam this year. It
Vietnam’s Provincial Competitiveness Index for 2023 released
The index–known more commonly as the PCI–assesses the competitiveness of Vietnam’s 63 provinces and self-managed cities. Northern Vietnam’s Quang Ninh province came out on top with a total score of 71.59 followed by Dong Thap and Long An with 71.14 and 70.78, respectively. PCI 2023, highest to lowest Province Score
Vietnam Airlines record profit result of lessor writing off bad debt
Vietnam Airlines recorded a ‘new record’ profit in the first quarter of this year of VND 4.53 trillion or US$178 million. This was, however, only after the company leasing planes to Vietnam Airlines subsidiary, Pacific Airlines, agreed to write-off US$220 million worth of debt in exchange for the return of
Vietnam gold price hits new high, 20 percent over world price
Vietnam’s gold price topped VND 91.5 million a tael or 2,958.50 per troy ounce yesterday, a new peak for the yellow metal. At the same time, gold was trading on the world market for US$2,353 per troy ounce, a difference of US$605.50 or about 20.47 percent. To try to close
Vietnam’s power consumption rises along with power outage concerns
Vietnam’s state power provider, Electricity Vietnam or EVN, is estimating a 12.24 percent rise in electricity consumption this month compared to May of last year, Tuoi Tre is reporting. The publication goes on to outline how EVN is preparing for a surge in demand over the summer, however, it lacks
Site clearance issues delay Vietnam’s first LNG power plant, adding to electricity woes
Site clearance delays are hampering an LNG power project in southern Vientam, reportedly at a cost of VND 13 billion or US$510,645 per day, Tuoi Tre has reported. Of note, site clearance is a common problem on most projects in Vietnam. This in large part stems from land pricing regulations
Video game distributor possibly banned in Vietnam at request of local game developers
Video game distribution platform Steam is reportedly no longer available in Vietnam possibly at the request of local game developers, Game Developer is reporting. The article references an April 24 article published by Vietnam Net in which game developers lament that Steam does not need to conform to the same
Vietnam News Roundup: May 3 to May 9
Aviation news Vietnam aviation regulator investigating high airfares The Civil Aviation Authority of Vietnam has reached out to consumers who believe they have been overcharged for airfares, VN Economy has reported. Airfares are regulated in Vietnam with price caps over which ticket prices cannot go. It’s not clear if there
Vietnam adds US$3.14 billion in foreign direct investment commitments in April
Vietnam pulled in an additional US$3.14 billion dollars worth of foreign direct investment commitments bringing its total for the year to US$9.27 billion. The manufacturing and processing sector was the stand out performer pulling in a whopping US$2.23 billion. In terms of the countries making the biggest investments in April,
Vietnam C.bank still struggling to make gold auctions work
Vietnam has held its second successful gold auction this year, however, the State Bank of Vietnam–theSBV–only managed to sell 3,400 SJC gold bars, Tuoi Tre is reporting. Of note, multiple gold auctions have been announced in the last few weeks but have been cancelled due to a lack of interest.
Vietnam’s non-market economy status has US hearing
The US Department of Commerce has held a hearing into Vietnam’s application to have its non-market economy status revoked, Reuters is reporting. Reuters notes that opponents of the change cited the volume of investment and input goods from China that are powering Vietnam’s growing export-orientated economy, suggesting Vietnam was being
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