Last year, Vietnam’s Quang Nam province recorded tax revenue of VND 31,781 billion (US$1.3 billion), however, this year it is expected to record tax revenue of just VND 23,951 (US$986 million), Tuoi Tre is reporting. This has been attributed to a substantially reduced contribution from automaker Truong Hai Group, which
Vietnamese farmers are cutting down coffee plants and growing durians and avocados instead, and this, alongside growing local demand for coffee, may see Vietnam’s coffee exports decline, according to Ha Nam, deputy chairman of the Vietnam Coffee Cocoa Association, Bloomberg is reporting. See also: Snapshot: Vietnam’s Coffee Industry, October 2023
Vietnamese firms are at ‘high risk of scams and disputes’ but lack the knowledge necessary to successfully engage commercial dispute resolution mechanisms, Vietnam News is reporting. The article references Vu Chien Thang, Trade Counsellor of Vietnam in Spain, who essentially says Vietnamese firms are being scammed because they are looking
The VN-Index closed down Tuesday by 4.52 points or 0.40 percent, leaving the index at 1,115.97 points. Foreign traders continued to exit the market en masse with a further US$64.2 million net-withdrawn from the market. This is on the back of US$23.9 million net-withdrawn yesterday. Foreign investor trading activity on
Sweden’s Trelleborg Group has inaugurated its first factory in Vietnam in southern Vietnam’s Dong Nai province, The Investor is reporting. Covering 8,000 square metres will create parts for the global automotive and industrial sectors. Trelleborg also announced earlier this year it planned to build a US$37 million factory in Ba-Ria-Vung
VN Express is carrying an article about Vietnamese students that go overseas to study but can’t find work after they graduate. Interviewees lament in the article that recruiters prefer local graduates who understand the market better. This speaks to changing attitudes in Vietnam toward studying overseas. Whereas there is still
Whereas the global shipping industry is facing a downturn there has been a marked increase in shipping between Asian states, QZ is reporting. This is being driven by the diversification of supply chains. Key data points: Vietnam has 13 direct shipping routes to the US in 2019, it now has
Over the weekend it was announced that there would be a government probe into the State Bank of Vietnam’s (SBV) handling of the country’s credit growth, Tuoi Tre is reporting. This was in response to complaints that credit was not growing fast enough. The target is 14 percent, however, as
The VN-Index closed Monday 18 points or 1.66 percent up to finish at 1,102.16. Foreign trading data was not available at time of publication. To catch-up on what’s happening with Vietnam’s stock market see: Vietnam’s Stock Market, November 2023: Snapshot
VN Express is carrying an article about Vietnam’s supporting industries, or lack thereof, amid booming exports. Of interest, is one particular solution put forward by Pham Chanh Truc, former head of the Saigon Hi-tech Park. “The government has to create a market by ordering goods from domestic businesses. After some
Prime Minister of Vietnam Pham Minh Chinh has asked the United Arab Emirates for support building an international financial centre in Ho Chi Minh City, VN Express is reporting. The article does not make clear what the UAE’s responded was, however, Vietnam’s key stock exchange in Ho Chi Minh City
Vietnam revealed its Just Energy transition Partnership agreement on Friday at COP28, with the bulk of the funding to be provided in the form of loans for hydropower projects, Climate Home News is reporting. The agreement is mostly made up of loans as opposed to the grants that Vietnam wanted,
Coal mining is ‘a great part’ of Quang Ninh province’s cultural identity, Vietnam News reported Sunday just days after the government revealed its Just Energy Transition Partnership roadmap at COP28. A couple of points of note: One, it’s not clear if this was a conscious decision or simply circumstantial, but
Only 13,300 people were registered to receive unemployment benefits in HCMC in November, a drop of nearly 25 percent from June, VN Express is reporting. The publication is saying that this is a sign that the wave of layoffs that have plagued the manufacturing sector may have slowed this year.
Vietnam started November with state media boasting that the country had overtaken South Korea to become the 6th biggest trading partner of the US by import value. This was, however, on closer inspection, old news with the jump actually taking place in 2022. That’s not to say this report was
Vietnam’s stock market started off November on an uncomfortable footing. Allegations of stock market manipulation had led to the authorities announcing a crackdown on the practice though details of exactly how this ‘crackdown’ would play out on a practical level were scant. That said, it was not unexpected. The head
The VN-Index has finished the day up 8.03 points or .73 percent to close out the week at 1,102.16 points. Foreign traders continued to net-sell today, withdrawing an additional US$12.7 million from the market. For the week on the whole, traders net sold US$29 million. Banking and real estate stocks
Thailand’s WHA Industrial Development has been approved to build a US$55 million 178.51 hectare industrial park in central Vietnam’s Than Hoa province, The Investor is reporting. This will be WHA’s second industrial park in Vietnam. The first is located in Nghe An, next door to Thanh Hoa.
Nitori, a home-furnishings retailer from Japan is set to open its first in Vietnam’s Binh Duong province, in winter of this year, Japan Today is reporting. Vietnam has become popular among Japanese retailers keen to tap into Vietnam’s rapidly expanding middle-class. Other big Japanese retailers with a presence in Vietnam
The State Bank of Vietnam (SBV) will increase the credit growth limits of banks that reach 80 percent of their current cap, Vietnam News is reporting. Credit growth this year has reached just 8.21 percent well below the 14.5 percent target for the year. The argument for the increase for