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 Airlines to sign deal for 50 Boeing 737 Max
Vietnam Airlines is considering a US$10 billion deal with Boeing for 50 737 Max aircraft, VN Express is reporting. The article says that the deal will see the national carrier replace its ageing fleet of A321 aircraft. There is no mention in the article of the two fatal crashes involving
Netherlands furniture firm invests US$31.7 in south-central Vietnam
Dutch furniture firm VidaXL is building a factory in the Nhon Hoi economic zone in Vietnam’s Binh Dinh province, according to VN Express. The project will cover 213,000 m2 of land and will produce an array of components and parts for VidaXL home furnishings. The project is expected to be
What Vietnamese businesses want from President Biden’s Hanoi stopover
VN Express is covering what Vietnamese businesses are looking for from US President Joe Biden’s trip to Hanoi. Key takeaways: Eds note: Whereas the geopolitics of Biden’s visit to Hanoi are well documented, in Vietnam there seems to be little interest. The focus domestically is on trade with the United
US product transfer firm opens factory in southern Vietnam
US firm Kurz, which specialises in thin-film transfers and decorative producs, has opened a factory in Vietnam’s Quy Nhon province, Plastics Technology is reporting. In the original press release, the company says it’s investing 35 million euros (US$37.5 million) in the new facility. It is slated to produce plastic finishings
Anticipated technology transfers from FDI to local firms not happening in Vietnam
Technology transfers from foreign to local firms are not happening, Tung Dinh Dang, Deputy Director of the Department of Technology Assessment, via Tuoi Tre. Instead, foreign firms are only transferring technology to their Vietnamese subsidiaries. Dang says, the workers often using the technology do not have the skills or education
Banks can now offer customers refinancing loans
Vietcombank and BIDV are among the first banks in Vietnam to allow customers to borrow in order to pay loans at other banks, The Investor is reporting. Regulations that restricted taking out loans to pay off other loans were rolled back earlier this month. Why it matters: By giving customers
Vietnam’s credit growth languishes, businesses don’t want to borrow
Vietnam’s credit growth has reached just 5.33 percent as of the end of August, The Investor is reporting. This is slightly up from July’s 4.56 percent but substantially far away from the 14 percent target for the year. Consider this: The article notes that businesses are reluctant to borrow and
Australia is chasing stronger ties with Vietnam
Australia wants a comprehensive strategic partnership with Vietnam, an upgrade from the current strategic partnership, according to VN Express. Vietnam and Australia have drawn much closer in recent years as trade friction with China has seen the land downunder look for alternative markets for its products. Cotton exports from Australia
International school in Hoi An shuts down unexpectedly, owner does a runner
VN Express is covering the closure of an international school in Hoi An whereby the foreign owner closed down the school and left the country rather than declaring bankruptcy. The article says a report has been lodged with the local police but if there is money to be refunded it
Vietnam’s 2023 growth target ‘extremely difficult’ to reach says deputy minister
Deputy Minister of Planning and Investment Phuong Quoc Tran has told Vietnam News that reaching the government’s 6.5 percent GDP growth target by the end of the year will be challenging–at the end of June growth was at 3.72 percent. He says low demand is weighing heavily on exports and
Coffee price decline likely temporary
The Ministry of Industry and Trade’ Import-Export Department is anticipating that a recent decline in coffee prices will slow down, according to Vietnambiz. Vietnam is the world’s second largest coffee producer after Brazil. In the first half of 2023, coffee exports earned Vietnam US$2 billion.
Japanese to build biomass plant in northern Vietnam
Japanese firm Erex is considering building a 50 megawatt biomass plant in Vietnam’s Bac Kan province, according to The Investor. This is alongside a number of other biomass power projects in neighbouring provinces. Under Vietnam’s Power Development Plan 8, approved earlier this year, biomass is slated to account for 2,270
Spanish football league to help develop football in Vietnam
Vietnamnet is reporting that the Vietnam Football Federation (VFF) and the Spanish football league (La Liga) have signed an MOU in a first step toward the Spaniards providing training and talent development to the local league. Why it matters: Vietnam loves football but the local league has been plagued by
Lack of access to capital still weighing on business in Vietnam
Vietnam needs to cut interest rates further to stimulate borrowing, according to an article in The Investor. Credit growth, at 4.73 percent in June, is well below the 14 to 15 percent target for the year. The article goes on to reference several experts who support a further reduction in
Demand needs to be addressed in VN’s economic recovery, too
Loosening monetary policy in Vietnam will only work if flagging demand is addressed too according to Binh Duy Le, Director of Economica Vietnam, and reported by VN Economy. In recent weeks, Vietnam’s economic focus has been on increasing exports and reducing business costs through interest rate and fee cuts. Le,
Vietnam’s outbound FDI climbs over US$416 million to August 2023
Vietnam’s outbound investment topped US$416 million in the first eight months of 2023, the Vietnam Investment Reviewis reporting. Vietnamese investors now have 1,665 overseas projects valued at US$22.1 billion.
Calls for US-Vietnam free trade agreement
Business Forum Magazine is carrying comments from economist David Dapice, who’s calling for a free trade deal between the US and Vietnam. Notably, the US was slated to be a member of the Trans-Pacific Partnership agreement of which Vietnam is a part, but the world’s biggest economy pulled out under
Virtual banking data from Visa somewhat questionable
Doanh Nhan Online is carrying an article about a Visa report from May this year (found here) in which 90 percent of Vietnamese consumers express an interest in virtual banking services. Something to think about: The report also mentions that 76 percent of consumers in Vietnam had gone cashless for
Devaluing Vietnamese dong possibly only temporary
Tran Ngoc Bau, CEO of Ho Chi Minh City-based financial data provider WiGroup, has said a devaluing Vietnamese dong is only temporary and that it will bounce back, The Investor is reporting. Tran says remittances, a surplus in Vietnam’s balance of payments, and an end to interest rate hikes in
Hard slog likely for VN to become a permanent fixture on world live music scene
Tuoi Tre is carrying this analysis of BlackPink’s concert in Hanoi in July and what it might mean for the domestic live music scene. Overall the tone is somewhat optimistic but also realistic–there is a long way to go for Vietnam to become a key stopover in Southeast Asia. For
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