Low-cost labour and generous tax incentives have made Vietnam attractive destinations for firms looking to optimise their supply chains. As multinationals continue to look for alternatives to the traditional low-cost manufacturing powerhouse China, Vietnam offers many of the same benefits and being close by makes it easy for Vietnam to slide into existing supply chains.

In this section we monitor Vietnam manufacturing news including market entries and exits and regulatory changes that impact manufacturers in Vietnam.

Vietnam’s electronics sector posts mixed production results in October

the-shiv November 23, 2024

The production of electronic products, computers, and optical products grew by 2.8 percent from September 2024, while the year-over-year increase for October reached 4.1 percent. Cumulatively, production in this segment rose by 8.8 percent from January to October compared to the same period in 2023…

USI Group boosts investment in northern Vietnam by US$75 million

the-shiv November 22, 2024

The project specialises in producing and assembling electronic circuit boards, wearable devices, smart handheld devices, and household appliances. With a production capacity of 260 million product sets per year, it plays a significant role in Vietnam’s growing tech manufacturing sector. The facility employs 1,000 workers and contributes substantially to the country’s export economy, generating US$500 million in annual exports.

Vietnam’s computer and electronics exports dip in October, but year-to-date figures show strong growth

the-shiv November 21, 2024

There was a slight dip in October, however, year-to-date figures reveal robust growth. From January to October, exports in this category totalled US$58.67 billion, a 26.1 percent increase compared to the same period in 2023.

DEEP C northern Vietnam Industrial Park has US$169 million capital boost approved

the-shiv November 21, 2024

It’s hoped this expansion will bolster the park’s ability to attract major investors, adding to its existing roster of notable tenants like Pegatron, Vietnam Advance Film Material, Core5, Posco, and Pyeonghwa Automotive. These companies represent a combined capital of US$5 billion…

How to Open a Factory in Vietnam: Ultimate Guide 2024

the-shiv November 20, 2024

Opening a factory in Vietnam for foreign firms or individuals, however, is not always easy. Not only are there several technical requirements that need to be met, but there are also a broad number of considerations that need to be made–choosing the right location, the right business structure, and finding the right workers, for example…

Heesung expands investment in Trang Due Industrial Park by US$125 million

the-shiv November 20, 2024

The project specialises in manufacturing and assembling automatic positioning liquid crystal module components, with a production capacity of 10.5 million units annually…

Vietnam’s chemical exports show strong growth in October and year-to-date figures

the-shiv November 19, 2024

Year-to-date figures also indicate significant growth. From January to October, chemical exports totalled US$2.28 billion, a 15.2 percent increase compared to the same period in 2023…

Vietnam’s wood, bamboo, and rattan products exports sees YoY growth despite slight monthly decline

the-shiv November 19, 2024

Year-over-year the sector demonstrated substantial growth, with a 10.9 percent increase in October this year compared to October 2023. Additionally, for the January-to-October period, production was up 8.7 percent over the same period last year. These annual gains underscore the rising demand for Vietnamese wood and bamboo products, both domestically and internationally.

Vietnam chemical product exports up fraction in October but by double-digits year-to-date

the-shiv November 19, 2024

Year-to-date figures are more encouraging, with chemical exports from January to October totalling US$2.22 billion. This marks a 12.1 percent increase compared to the same period in 2023, highlighting robust growth in the sector over the year…

Vietnam’s ceramic exports surge in October, year-to-date growth remains steady

the-shiv November 19, 2024

Year-to-date figures also show consistent growth. From January to October, ceramic exports totalled US$537.78 million, an 8.6 percent increase compared to the same period in 2023…

LG Group to boost investment in Vietnam with US$1 billion expansion

the-shiv November 18, 2024

This adjustment brings the total investment in the high-tech OLED screen manufacturing facility to US$5.65 billion, making it one of LG’s largest projects in the country…

Vietnam’s bamboo and rattan exports rise in October, year-to-date figures remain positive

the-shiv November 18, 2024

The steady year-to-date growth demonstrates Vietnam’s competitive position in this niche market, buoyed by growing global interest in sustainable materials. The October uptick further reinforces the sector’s resilience, indicating potential for continued expansion as international demand for environmentally conscious products rises.

Vietnam’s footwear manufacturing sector posts strong growth in October

the-shiv November 17, 2024

Vietnam’s competitive advantage in footwear production is in its experienced labour and cost efficiencies. However, to maintain this momentum, the industry may need to address challenges related to global supply chain pressures, rising production costs, and the growing importance of sustainable and ethical production practices in the international market…

Vietnam’s garment manufacturing sector sees significant year-over-year growth, October

the-shiv November 16, 2024

Of note, Vietnam’s garment sector is benefiting from increased international orders and favourable trade conditions. However, sustaining this growth may require addressing challenges such as supply chain dependencies and rising production costs, particularly in a global market where sustainable and ethical production practices are becoming increasingly important to buyers.

Vietnam’s manufacturing leads October’s FDI influx with substantial growth year-to-date

the-shiv November 16, 2024

The steady influx of foreign capital into manufacturing reflects Vietnam’s appeal as a regional industrial hub, offering a cost-effective environment for companies looking to establish or expand operations within Southeast Asia. This trend can be attributed to a number of factors including Vietnam’s competitive workforce, strategic location, and favourable government policies tailored to support foreign manufacturing operations..

Vietnam’s fibre production shows sustained annual growth but moderate monthly increase

the-shiv November 15, 2024

Notably, fibre production is benefiting from rising global demand for textiles, positioning Vietnam as a key player in the supply chain. To sustain this momentum, however, the industry may need to focus on innovations in sustainable fibre production to meet increasing environmental standards and ensure long-term growth…

Vietnam’s consumer price index for garments, hats, and shoes shows modest increase

the-shiv November 13, 2024

From January to October, the CPI for garments, hats, and shoes increased by 1.45 percent over the same period in 2023. This subdued growth likely stems from a significant supply of garments and apparel as a result of being a key global manufacturing hub for these goods…

Vietnam’s processing and manufacturing sector shows strong annual growth

the-shiv November 9, 2024

Year-over-year, the industry exhibited even stronger results, with an 8.8 percent increase in output in October 2024 compared to October 2023. Cumulatively, the January-to-October 2024 period saw a 9.6 percent rise over the same period last year…

Vietnam Industrial Production Index Tracker: October Update [data set]

the-shiv November 6, 2024

Vietnam’s industrial production index in October recorded a jump of seven percent compared to the same period last year, driven by growth in key sectors like processing and manufacturing. The processing and manufacturing industry experienced a decent increase of 8.8 percent, while electricity production and distribution grew by 6 percent. The machines for the textile, garment and leather industries, however, has recorded the biggest rise so far this year, up 85 percent.

Vietnam’s wood and bamboo production sees mixed performance in September

the-shiv November 6, 2024

Sawing, planing, and preserving wood experienced a decrease in output, with a 3.4 percent drop compared to August 2024 and a 1.5 percent decline year-on-year. Despite these recent declines, the sector has showed resilience year-to-date, recording a 6.3 percent increase over the first nine months of 2024 compared to the same period in 2023…