Industry is the cornerstone of most economies around the world. In Vietnam industry has grown rapidly and continues to grow at an exponential pace. This is inline with rising wages that are driving demand for all manner of goods.

This section covers industries including: aviation, manufacturing, and real estate.

Vietnam to self-fund high-speed rail, avoid ‘strings attached’ foreign loans

the-shiv October 3, 2024

Notably, debt-diplomacy has become common in recent years particularly in developing nations and given Vietnam’s precarious position in the world in terms of geopolitics, a reluctance to be indebted to external creditors is understandable. That said, this is a huge and very expensive project that really needs to be done right and Vietnam has no existing high-speed rail and therefore no experience installing and using the technology to speak of.

PetroVietnam Gas Corporation: Vietnam Stock Overview

the-shiv October 3, 2024

Amid declining domestic natural gas production, imported LNG is slated to play a crucial role as a long-term alternative energy source. Currently, GAS is the first and only enterprise in Vietnam authorized to officially distribute LNG. GAS is involved in several key LNG projects, including the Thi Vai and Son MY LNG port warehouse and the Block B – O Mon gas pipeline projects…

Vietnam gold ring prices reach all-time highs despite C.bank intervention

the-shiv October 2, 2024

The gold price in Vietnam is more often than not much higher than it is in the rest of the world. In fact, in 2023, at its peak, the price of a gold bar in Vietnam was around 20 percent higher owing to a number of factors including huge demand and limited supply, the latter due to regulations that restrict gold imports and exports and gold bar production.

VietinBank: Vietnam Stock Overview

the-shiv October 2, 2024

Non-interest income fell by 12.6 percent to US$333.2 million, driven by a drop in bancassurance operations, in line with a broader decline in bancassurance revenue following negative publicity in 2023. In addition, securities trading revenue decreased 72.6 percent in contrast to the VN Index which increased by 10.2 percent and other financial institutions like MB Bank which had an eightfold increase in securities revenue year-over-year…

US announces preliminary subsidy rates on solar panels from Vietnam, others

the-shiv October 2, 2024

This comes on the back of a series of trade remedies investigations into imports from Vietnam under suspicion that they are actually mostly made in China and simply shipped through Vietnam to avoid anti-dumping duties on Chinese imports…

Vietnam Mercedes-Benz plant lease extended after months of uncertainty

the-shiv October 2, 2024

The joint venture between Mercedes-Benz and local firm SAMCO had requested an extension of its land lease as far back as 2021, however, the request was never actioned due to the aforementioned regulatory challenges (the can was kicked down the road). This came to a head earlier this year, however, when the company said it was considering shutting down its operations in Vietnam altogether as a result of the lolly-gagging…

Vietnam’s Economy: Everything You Need to Know 2024

the-shiv October 1, 2024

Vietnam’s economy has emerged as one of Southeast Asia’s fastest-growing and most dynamic markets, attracting significant global attention. With a population of over 100 million, a strategic location in the Asia-Pacific region, and a rapidly industrialising economy, Vietnam has become a manufacturing and export powerhouse.

Vietnam Trade: Everything You Need to Know 2024

the-shiv October 1, 2024

Vietnam has established itself as a key player in global trade, thanks to its strategic location, favourable trade agreements, and robust manufacturing sector. In 2024, Vietnam continues to leverage its open economy, with exports playing a crucial role in driving growth. The country is well-integrated into the global supply chain, exporting a diverse range of goods including electronics, textiles, machinery, and agricultural products.

Vietnam Purchasing Managers Index records 5.1 point fall in September

the-shiv October 1, 2024

The S&P Global Vietnam Purchasing Managers’ Index has recorded a 5.1 point fall in September, from 52.4 in August to 47.3 a month later, according to a press release from the firm. This moved the index below the 50-point break even mark which means that Vietnam’s manufacturing industry, according to the index, contracted in September.

Should Vietnam Be Worried About Indonesia Joining the CPTPP?

the-shiv October 1, 2024

Last week, Indonesia officially applied to join the Comprehensive and Progressive Trans-Pacific Partnership free trade agreement. Whereas the benefits to Indonesia are clear, for Vietnam, a founding member of the agreement, it could be problematic. This article looks at the risks and opportunities for Vietnam if Indonesia’s accession is approved…

Military Commercial Bank: Vietnam Stock Overview

the-shiv October 1, 2024

MBB’s total operating income increased by 11.3 percent year over year in the first half of 2024 with the banking industry benefiting from a more stable macroeconomic environment than in 2023 and a rebound in credit demand. Net interest income, however, increased by only 1 percent…

Buy Now Pay Later service debuts on petrol station app in Vietnam

the-shiv October 1, 2024

Of note, the Buy Now, Pay Later–BNPLY–market is projected to grow at a compound annual growth rate of 29.2 percent from 2024 to 2029, according to a report from Markets and Research. The gross merchandise value of buy now pay later in Vietnam is expected to rise from US$1.32 billion in 2023 to US$6.89 billion by 2029…

Vietnam securities firms hit deadline with thousands of trader IDs unverified

the-shiv October 1, 2024

There were around 8 million active trading accounts last count but these are clearly not all being used. In October last year, MB Securities closed over half a million accounts that had been opened with the firm but had never recorded a transaction. This is just one of around 20 to 30 brokerages in Vietnam too, and in this context, this ID requirement may see many more accounts closed…

Vietnam real estate giant’s profit swings to loss after financial statement audit

the-shiv September 30, 2024

Vietnam real estate giant Novaland has banked its worst half year on record after audited financial reports found huge discrepancies from what was earlier reported, The Investor has reported. Specifically, the company’s own financial statements reported a profit of VND 3.5 trillion or US$142.2 million, however, an audit found the company had actually made a loss of VND 7.3 trillion or US$296.6 million…

Vietnam-made tyres subject of South African anti–dumping investigation

the-shiv September 30, 2024

This announcement is in line with a growing narrative around Chinese producers using third-countries, particularly in Southeast Asia to circumvent trade remedies. Of note, genuine Vietnamese producers and exporters often get caught up in these investigations. Whereas they can apply for separate antidumping rates, this still consumes time and resources that many local firms, on the back of broader economic challenges, may not have.

IMF-Vietnam consultation report forecasts GDP growth of 6.1 percent 2024

the-shiv September 30, 2024

The International Monetary Fund has released its Vietnam: 2024 Article IV Consultation report which breaks down the performance of Vietnam’s economy over the last 12 months. Notably, it forecasts GDP growth for this year and 2025 of 6.1 percent. The 97 page report also includes a number of recommendations…

S&P Global raises GDP growth outlook for Vietnam 0.4 points

the-shiv September 29, 2024

The report notes that Vietnam and Malaysia in particular are experiencing strong growth in electronics exports and attracting substantial foreign direct investment in the electronics sector. However, it also notes that the electronics industry is known for its cyclical nature, and any decline in global demand could impact this momentum, leading to potential fluctuations in production and investment.

Vietnam skin care market to reach US$2.35 billion by 2032: Report

the-shiv September 29, 2024

This is inline with a self-care market on the rise. The health and supplements market in Vietnam, for example, has experienced significant growth in recent years, driven by increasing health awareness, rising disposable incomes, and a rapidly growing middle class.

HDBank: Vietnam Stock Overview

Huong Nguyen September 29, 2024

In the first half of 2024, HDB saw a significant uptick in its performance, with total operating income and pre-tax profit increasing by 32.9 percent and 48.9 percent year-over-year, respectively. This growth was primarily attributed to a more stable macroeconomic environment and a rebound in credit demand compared to 2023 during which banks in general faced a challenging financial environment with rising interest costs on deposits outpacing lending income…

US furniture firm bails on Vietnam, leaves local workers unpaid

the-shiv September 28, 2024

Notably, there are channels of recourse for workers in Vietnam, however, these can be difficult to access in the event a foreign business owner has left the country. That said, foreign firms should keep in mind that internet penetration is very high in Vietnam and reputational damage is therefore not restricted to the Vietnam market.