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Lack of, slow policy development may hinder wind power development in Vietnam
The Investor has a write-up of the Global Offshore Wind Report 2023 in which it highlights that a lack of timely supporting policy can be off putting to investors. Specifically, Vietnam introduced a policy a few years ago that would see wind farms completed by the end of 2020 paid
Japanese to build biomass plant in northern Vietnam
Japanese firm Erex is considering building a 50 megawatt biomass plant in Vietnam’s Bac Kan province, according to The Investor. This is alongside a number of other biomass power projects in neighbouring provinces. Under Vietnam’s Power Development Plan 8, approved earlier this year, biomass is slated to account for 2,270
Spanish football league to help develop football in Vietnam
Vietnamnet is reporting that the Vietnam Football Federation (VFF) and the Spanish football league (La Liga) have signed an MOU in a first step toward the Spaniards providing training and talent development to the local league. Why it matters: Vietnam loves football but the local league has been plagued by
Lack of access to capital still weighing on business in Vietnam
Vietnam needs to cut interest rates further to stimulate borrowing, according to an article in The Investor. Credit growth, at 4.73 percent in June, is well below the 14 to 15 percent target for the year. The article goes on to reference several experts who support a further reduction in
Demand needs to be addressed in VN’s economic recovery, too
Loosening monetary policy in Vietnam will only work if flagging demand is addressed too according to Binh Duy Le, Director of Economica Vietnam, and reported by VN Economy. In recent weeks, Vietnam’s economic focus has been on increasing exports and reducing business costs through interest rate and fee cuts. Le,
Vietnam’s outbound FDI climbs over US$416 million to August 2023
Vietnam’s outbound investment topped US$416 million in the first eight months of 2023, the Vietnam Investment Reviewis reporting. Vietnamese investors now have 1,665 overseas projects valued at US$22.1 billion.
VPS sees the real estate market recovering in the second half of 2023
The real estate market in Vietnam will only start to properly recover when lending interest rates drop another 2-3 percent, according to VPBank Securities Company (VPS) as reported by Business Forum Magazine. The magazine goes on to quote VPS as saying the challenges facing the real estate market will ease
Calls for US-Vietnam free trade agreement
Business Forum Magazine is carrying comments from economist David Dapice, who’s calling for a free trade deal between the US and Vietnam. Notably, the US was slated to be a member of the Trans-Pacific Partnership agreement of which Vietnam is a part, but the world’s biggest economy pulled out under
Virtual banking data from Visa somewhat questionable
Doanh Nhan Online is carrying an article about a Visa report from May this year (found here) in which 90 percent of Vietnamese consumers express an interest in virtual banking services. Something to think about: The report also mentions that 76 percent of consumers in Vietnam had gone cashless for
Devaluing Vietnamese dong possibly only temporary
Tran Ngoc Bau, CEO of Ho Chi Minh City-based financial data provider WiGroup, has said a devaluing Vietnamese dong is only temporary and that it will bounce back, The Investor is reporting. Tran says remittances, a surplus in Vietnam’s balance of payments, and an end to interest rate hikes in
Hard slog likely for VN to become a permanent fixture on world live music scene
Tuoi Tre is carrying this analysis of BlackPink’s concert in Hanoi in July and what it might mean for the domestic live music scene. Overall the tone is somewhat optimistic but also realistic–there is a long way to go for Vietnam to become a key stopover in Southeast Asia. For
Late half-yearly reports plague Ho Chi Minh Stock Exchange
A total of 18 companies have been reminded that they are late in submitting their 2023 half-year audited financial statements, Kinh Te Saigon Online is reporting. Most of the 18 companies have been in the news for all the wrong reasons of late. APAX Holdings, which made the list, has
S&P August data shows improved outlook for manufacturing in Vietnam
Vietnambiz has covered S&P Global’s latest Purchasing Manager’s (PMI) Index which went over 50 for the first time in the last six months. The report (found here) puts Vietnam’s PMI at 50.5 up from 48.7 in July. It notes that this may not necessarily signal the sector is in recovery
Tourists confused by where to go for accurate Vietnam visa information
Vietnam has only recovered about 44 percent of its pre-COVID tourist numbers, according to VN Express. But also of interest in this article, is a comment from Hoang Nhan Chinh, secretariat director of the Vietnam Tourism Advisory Board re: new visa regulations. “Sometimes it is not certain that tourists trust
Samsung ‘reluctant’ re: semiconductor chip factory in Vietnam
Samsung is ‘reluctant’ to build a semiconductor chip factory in Vietnam, Nikkei Asia is reporting. The publication goes on to detail Vietnam’s falling exports of smartphones and outlines some of the arrangements Samsung has with the Vietnamese authorities in order to ensure their operations run smoothly. Some context: Vietnam has
Electricity purchase prices to be higher in low-sun areas: MOIT
The Ministry of Industry and Trade has floated the idea of paying different prices for renewables produced in different regions, according to VN Express. Essentially the argument is that to encourage the development of solar projects in areas where there is less sun, power generators should be paid more. Eds
‘Not very positive’ Vietnam Association of Real Estate Brokers report released
The Vietnam Association of Real Estate Brokers has released a report on the current state of Vietnam’s real estate market that The Leader has dubbed ‘not very positive’. The report (download here) takes the view that measures to alleviate pressure on the sector have done little to help.
Key Apple supplier to boost investment in northern Vietnam
BYD Electronics will invest a further US$183.7 million in its operations in Phu Tho province in the north of Vietnam, according to The Investor. The company currently assembles tablets for Apple and makes components for camera drones in the area. About 70 kilometres from Hanoi, Phu Tho forms part of
Amazon exec on utilising the platform as an export avenue in VN
The unique characteristics of a product, the ingredients, and environmentally friendly packaging are key details Vietnamese vendors should communicate on Amazon, according to Gijae Seong, head of Amazon Global Selling Vietnam, via an interview by The Investor. Seong says that often local firms tend to overemphasise the product as ‘made
Why it’s hard for Vietnamese SMEs to access credit
Of Vietnam’s small-to-medium enterprises (SMEs) only 30 percent have ready access to credit, whereas the remaining 70 percent have difficulty borrowing or no means to borrow at all, according to Doanh Nhan Saigon. Citing ‘experts’ the publication lists a lack of: financial infrastructure, collateral, product variety, diversity in credit institutions,