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US product transfer firm opens factory in southern Vietnam

US firm Kurz, which specialises in thin-film transfers and decorative producs, has opened a factory in Vietnam’s Quy Nhon province, Plastics Technology is reporting. In the original press release, the company says it’s investing 35 million euros (US$37.5 million) in the new facility. It is slated to produce plastic finishings

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Vietnam’s offshore wind (OSW) targets in doubt

“To meet the PDP8 scheduled target, the OSW projects should have been identified, investors selected, and permits issued by now,” according to a blog post from the law firm Shearman and Sterling. The law firm points out that the typical lead time for OSW projects is 5 to 7 years

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Banks can now offer customers refinancing loans

Vietcombank and BIDV are among the first banks in Vietnam to allow customers to borrow in order to pay loans at other banks, The Investor is reporting. Regulations that restricted taking out loans to pay off other loans were rolled back earlier this month. Why it matters: By giving customers

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Australia is chasing stronger ties with Vietnam

Australia wants a comprehensive strategic partnership with Vietnam, an upgrade from the current strategic partnership, according to VN Express.  Vietnam and Australia have drawn much closer in recent years as trade friction with China has seen the land downunder look for alternative markets for its products. Cotton exports from Australia

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Coffee price decline likely temporary

The Ministry of Industry and Trade’ Import-Export Department is anticipating that a recent decline in coffee prices will slow down, according to Vietnambiz. Vietnam is the world’s second largest coffee producer after Brazil. In the first half of 2023, coffee exports earned Vietnam US$2 billion.

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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

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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

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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,

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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

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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

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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

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