Vietnam’s economy has been growing rapidly for the better part of three decades. This section broadly tracks news media coverage of Vietnam’s economic development including targets, forecasts, imports and exports, and foreign investment.

How to Start an Import Business in Vietnam: Ultimate Guide 2024

the-shiv May 19, 2024

This article is sponsored by: your business here (learn more) Vietnam is in the midst of a trade boom. Goods are flowing in and out of Vietnam to the tune of billions of dollars every day. Not only is there a growing consumer market that is buying up all manner

Minimum wage hike of 6 percent submitted to Vietnam government for approval

the-shiv May 18, 2024

This will be welcome news for Vietnam’s minimum wage workers with no minimum wage hike last year despite inflation floating around 4 percent. The Vietnam General Confederation of Labor had been pushing for between 6.48 percent and 7.3 percent with the Vietnam Chamber of Commerce and Industry, a peak business representative body, pushing for between 4.5 and 5 percent. Vietnam’s National Wage Council, which makes recommendations to the ministry, looks to have essentially split the difference.

Billions of foreign aid lost in delays caused by politcal uncertainty in Vietnam

the-shiv May 18, 2024

Of note, these delays in project approvals seem to be mostly in infrastructure projects and aid programs. New projects in the manufacturing and processing industry have continued to move forward without any more delays than is typical–critical to Vietnam’s economic development, investigating corruption in the industry could discourage further foreign direct investment.

Transcript of DOC hearing into Vietnam’s non-market economy status now available

the-shiv May 17, 2024

This hearing should just about cap off contributions from the parties involved with the Department of Commerce now set to deliberate with a report due July 26.

Another politburo member resigns in Vietnam

the-shiv May 17, 2024

Truong Thi Mai who was, until yesterday, the Standing Secretary of the Secretariat, has resigned her position. This was after it was revealed there were ‘violations and shortcomings’ in her work. Resignations among Vietnam’s leadership have become common of late with the president resigning in March and the Chariman of

State Bank sells US$400 million of forex reserves on Wednesday: ACB

the-shiv May 16, 2024

Research from WiGroup last week estimated Vietnam’s reserves to be only about US$90 billion. That being the case, with the IMF recommending enough foreign currency on hand to cover three months worth of imports, and imports reaching just shy of US$30 billion in April, these reserves are dangerously low.

Vietanm customs data for April sees export growth, trade surplus slip

the-shiv May 15, 2024

Vietnam customs data released last week shows a slight downturn in exports in April, losing 7.7 percent over March. That said, exports were still up over the first four months of the year by 15.1 percent compared to 2023. Imports were also down 2.9 percent in April over March but

Cutting the 48 hour work week back in the news in Vietnam

the-shiv May 13, 2024

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

the-shiv May 13, 2024

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

EU non-tariff barriers becoming key obstacle for Vietnamese goods

the-shiv May 12, 2024

Vietnamese okra is at risk of being banned from entry into the EU due to high levels of pesticides found in recent imports. As a first step, the European Union has increased inspections of the okra coming from Vietnam. Similar action has been taken for instant noodles, dragon fruit, and