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.

List of Companies Manufacturing in Vietnam in 2024

the-shiv September 4, 2024

Vietnam has become a popular destination for manufacturing operations on the back of generous tax incentives and relatively low-cost labour. As a result, the manufacturing industry in Vietnam has exploded with a number of big brands importing parts and components into Vietnam to assemble and test in the country. Here is a list of just a handful of the biggest.

Vietnam Purchasing Managers Index records 2.3 point fall in August

the-shiv September 4, 2024

The S&P Global Vietnam Purchasing Managers’ Index has recorded a 2.3 point fall in August, from 54.7 in July to 52.4 a month later, according to a press release from the firm. This does, however, signal the continued expansion of Vietnam’s manufacturing sector for the fifth month in a row…

List of Vietnam Footwear Manufacturers (2024)

the-shiv September 2, 2024

Vietnam’s thriving shoe industry caters to a diverse range of brands and styles, from athletic sneakers to high-end luxury footwear. But whereas footwear brands can choose to open their own factory in Vietnam, many choose not to and instead utilise Vietnam footwear manufacturers on a contractual basis. With this in mind, this is a list of some of the most well-known Vietnam footwear manufacturers.

Key Vietnam car maker reports profit fall of 6 percent in first half 2024

the-shiv September 2, 2024

From a peak in 2022 of VND 7.4 trillion or US$298.3 million, Thaco has seen its profits continue to fall. This has been attributed to a decline in car sales on the back of broader economic challenges in Vietnam. This is, however, only one part of much bigger changes in Vietnam’s car market as new trade agreements pull down tariffs on imports and trade remedies against cars imported from China into the US and EU see Chinese car makers search for new markets…

Where are Nikes Made in Vietnam 2024?

the-shiv September 2, 2024

Nike products made in Vietnam are produced in several provinces around the country. They are, however, mostly concentrated in the south, in and around Ho Chi Minh City. This is in part because of the dense population and access to one of Vietnam’s biggest ports but also because Ho Chi

Central Vietnam government looks for investors in new steel factory

the-shiv September 2, 2024

Developing a steel project right now doesn’t seem to be particularly prudent in that there are a myriad of trade remedies investigations into steel imports around the world currently underway, including against steel from Vietnam. These trade remedies cases look to be the result of increased exports of cheap steel from China and Vietnam on the back of a fall in demand at home following slumps in their respective real estate markets…

Electronics Retailer Digiworld: Vietnam Stock Overview

Huong Nguyen September 2, 2024

As the core business of Digiworld, the electronic devices segment has been challenged by declining demand and intense competition–in the broader market, electronics retail chains like FPT Shop and Mobile World, have also closed a number of underperforming stores. With this in mind, Digiworld has implemented a horizontal development strategy, which involves adding new brands and entering new industries through mergers and acquisitions…

Japan’s Toyo Solar limits Vietnam solar panel production on trade investigation

the-shiv August 30, 2024

Japan’s Toyo Solar is reducing its solar panel output at its Vietnam-base affiliate Vietnam Sunergy from 2.5 gigawatts this year to just 1.9 in response to a US trade investigation into solar panels from Vietnam, the company has said in a press release. The company goes on to say that it will wait for preliminary investigation results before making further moves…

TCL Smart TVs made in Vietnam caught up in US trade probe

the-shiv August 29, 2024

TCL has had a presence in Vietnam since 1999. Its headquarters in the country are in Binh Duong, next door to Ho Chi Minh City, on which the firm has spent US$45 million and at which it employs 2000 staff. The facility is expected to make an estimated 6 million units this year most of which are destined for the US market. In this context, this trade investigation in the US could have a significant, adverse impact on Vietnam, depending on the outcome.

Vietnam Stock Reviews: Gelex Group

Huong Nguyen August 29, 2024

In the first half of 2024, revenue and pre-tax profit experienced an increase of 3.8 percent and 74.4 percent compared to the previous year, respectively. The significant increase in pre-tax profit was partially attributed to the sale of majority stakes in three Gelex Group subsidiaries to Singapore’s Sembcorp. Of note, in August 2024, 300 million shares in Gelex Electric, a subsidiary of Gelex Group, were officially listed on the Ho Chi Minh Stock Exchange under the ticker GEE.

Made in Vietnam: Major Brands and Key Goods

the-shiv August 22, 2024

Over the past two decades, generous tax incentives and an abundance of low-cost labour have made Vietnam a very attractive option for firms looking to diversify their manufacturing supply chains. Specifically, Vietnam’s exports have grown surprisingly fast, with just US$19.9 billion worth of exports in 2002 compared to a whopping

Vietnam Footwear Manufacturing: Industry Overview 2024

the-shiv August 21, 2024

Vietnam footwear manufacturers count themselves as part of one of the biggest footwear manufacturing industries in the world. Trailing only India and China, this relatively small country exported footwear to the tune of US$19.94 billion in 2023, made for some of the most well-known footwear brands.

Once leading Vietnam garment maker on last legs as lack of orders bites

the-shiv August 21, 2024

Of note, it is not unusual for Vietnamese firms to hold out for as long as possible, grasping at straws to stay afloat under the belief that the ship will right itself if they can hold out just a little longer. Furthermore, it is not unusual for them to be allowed to do so, with a firm not considered insolvent until its debts are over 90 days past due, but even then they can often continue to trade for quite a while longer.

South Korean firm signs agreement with chip factory manager in Vietnam

the-shiv August 20, 2024

Of note, Vietnam has a breadth of experience in assembly, packing, and testing of semiconductor chips on the back of huge investment from firms like Intel and Amkor. Furthermore, regional and global free trade agreements to which Vietnam is a party position it well for this final stage of semiconductor chip supply chains. That said, Vietnam’s semiconductor manufacturing has faced a number of challenges including an unreliable electricity supply and a shortage of skilled workers.

10 Key Manufacturing Hubs in Vietnam 2024: Overview

the-shiv August 19, 2024

Vietnam has emerged as a prominent manufacturing hub in Southeast Asia, attracting significant foreign direct investment (FDI) and driving economic growth. The country’s strategic location, competitive labour costs, and supportive government policies have contributed to its manufacturing prowess. Several key locations have emerged as focal points for industrial development and production.

India to launch anti-dumping probe into Vietnam steel

the-shiv August 18, 2024

India is now another in a growing list of countries with trade remedies investigation into Vietnamese steel–South Korea started an investigation back in June and the EU announced it had received an official complaint back in July…

Vietnam Stock Reviews: TNG (textiles and garments)

Huong Nguyen August 17, 2024

The textile and garment industry is projected to continue growing in the second half of 2024, however, gross margins are expected to remain under pressure. The 6 percent increase in the minimum wage in Vietnam starting in July 2024, coupled with difficulties in raising product prices because of competition from rival countries, will likely hinder margin growth.

Samsung almost 15 percent of Vietnam’s exports so far this year

the-shiv August 15, 2024

Samsung exported US$33.5 billion worth of product from Vietnam in the first seven months of the year. This is the equivalent of around 14.73 percent of Vietnam’s total exports and about 46.42 percent of Vietnam’s exports of mobile phones and computers…

Vietnam steel production climbs alongside dumping duties risk

the-shiv August 15, 2024

Vietnam’s steel production is expected to increase by 7 percent this year according to the Ministry of Industry and Trade and reported by Vietnam News. This growth, however, will run parallel with an antidumping investigation in the EU into Vietnamese steel…

First half manufacturing jobs jump 10 percent over 2023: Adecco

the-shiv August 14, 2024

Manufacturing over the last few months has rebounded significantly compared to 2023. Of note, S&P Global’s Vietnam Purchasing Managers’ Index jumped to 54.7 up from 50.3 a month earlier. This was on the back of a sharp rise in new orders that S&P says experienced the highest growth since the index began, aside from the very first month it went online. This continued into July with the index holding at 54.7 percent.