Vietnam news in English for foreign firms doing business in Vietnam

Vietnam’s exports to the United Kingdom this year have stagnated as a result of the UK signing onto the Developing Countries Trading Scheme (DCTS) and more free trade agreements, Vietnam Plus is reporting. This is creating more competition among the UK’s suppliers and giving UK importers more options, which is

Starlink pursuing Vietnam market access, but clear challenges exist

the-shiv October 31, 2023

Elon Musk’s satellite internet service, Starlink, is currently on show in Hanoi at the Vietnam International Innovation Expo 2023, VN Express is reporting. This is on the back of SpaceX representatives making overtures to the government last month with respect to making the service accessible in Vietnam. Point of note:

US to officially review Vietnam’s non-market economy status

the-shiv October 31, 2023

The US Department of Commerce has announced it will officially review Vietnam’s status as a non-market economy for the purposes of anti-dumping measures, according to the Federal Register. This will be done in the context of anti-dumping measures applied to raw honey from Vietnam and is in response to an

VN-Index -18.22 points (1,042.40) at close, October 30

the-shiv October 30, 2023

The HOSE slid 18.22 points or 1.72 percent in the first trading session of the week, according to HOSE data. This comes after a troubling week in which the local bourse fell over forty points in one day and rounded out the week 47 points down on a week earlier.

Interbank interest rates drop as T-bills continue to expire, not replaced

the-shiv October 30, 2023

Inter-bank interest rates have started to decrease after reaching a three-month high last week, Vietnam Biz is reporting. Last Thursday they hit 1.89 percent, down from 2.22 percent the Monday before. Why it matters: Inter-bank interest rates were one measure that was being used to assess the success of the

Industrial rents have jumped significantly in northern Vietnam

the-shiv October 30, 2023

Land rents for industrial projects have increased by as much as 48 percent (Bac Ninh) in northern Vietnam in the past year on the back of increased interest from electronics firms, according to Savills and reported by The Leader. Vietnam’s rising star as a manufacturing hub is seeing demand rise

Was HOSE 40-point drop Thursday really a result of ‘rumours and tricks’?

the-shiv October 30, 2023

The VN-Index ended last week 47.41 points down on its close Friday of the week before, and this was partly a result of ‘rumours and tricks’, Tuoi Tre is reporting. This, however, is not exactly true. The drop of 40 points last Thursday appears to have been driven by a

Data center development may not be keeping pace with demand in Vietnam

the-shiv October 30, 2023

An ‘investment rush’ into data centre development has not been enough to keep pace with growing demand, The Investor is reporting. The publication estimates Vietnam will need to build at least five new facilities each year with at least 2000 racks. Note that recently passed data localisation laws require firms

VN-Index up 5.17 points (1,060.62 ) at close, October 26

the-shiv October 27, 2023

It’s been swings and roundabouts this week for the HOSE but it has managed to finish the week on a positive note, up 5.17 points or 0.49 percent at close of business today, according to HOSE data. This was credited to domestic traders, however, with foreign traders net withdrawing VND

Analysis of yesterday’s big VN-Index drop: it was Vingroup

the-shiv October 27, 2023

Yesterday the VN-Index dropped 40 points straight-up on the back of Vingroup announcing it would issue more bonds to cover bonds that were maturing, Reuters has reported. Reuters is referencing ‘traders and stock brokers’ as saying this reworking of bond debt may have ‘raised concerns about Vingroup’s financial status. Note

Heineken records drop in beer sales in Vietnam first 9 months of this year

the-shiv October 27, 2023

Heineken’s organic sales fell by 5.2 percent in the first nine months of the year, 2.6 percent of that fall attributed to the Vietnam and Nigerai markets, The Investor is reporting. According to the article, Heineken is saying that it is because of a broader economic slowdown, however, there have

VN-Index 🡇 46.21 points (1,055.45) at close, October 26

the-shiv October 26, 2023

The HOSE was hit hard today by a huge sell-off which saw the VN-Index drop 46.21 points or 4.19 percent, according to HOSE data. A lot of the sell off was confined to domestic traders with foreign firms net selling just VND 99 billion or US$4 million. Foreign investor trades

Banks deposits in Vietnam highest ever in latest State Bank data

the-shiv October 26, 2023

Total funds in savings accounts at Vietnamese banks topped VND 12.4 million billion or US$504 billion in August, according to State Bank of Vietnam data and reported by Tuoi Tre. This is reportedly the highest bank deposits have ever reached and is in spite of record low savings interest rates.

Vietnam interbank interest rates hit four-month high of 2.22 percent

the-shiv October 26, 2023

The overnight interbank interest rate in Vietnam hit 2.22 percent on Monday (three days ago), the highest it has been in four months, Doanh Nhan Vietnam reported today. The publication is saying that this signals that the excess liquidity problem may have improved and suggests this is a result of

Taiwanese auto-parts maker to build new factory in northern Vietnam

the-shiv October 26, 2023

Taiwan’s Waffer Technology wants to build a US$50.9 million plant in northern Vietnam’s Hai Duong province, The Investor is reporting. Wafer Technolgy intends to use the plant to make up to 10 million car parts and repair machines for export to the US and the EU.

Chinese solar cell maker to build new factory in northern Vietnam

the-shiv October 26, 2023

China’s Boway intends to build a 20-hectare, US$114 million solar cell factory in northern Vietnam’s Hai Duong province, The investor is reporting. This is part of a number of major investments in its manufacturing operations across northern Vietnam. All-up it reportedly has plans to invest US$350 million Hai Dunong alone.

Chinese solar factory starts operating in northern Vietnam

the-shiv October 26, 2023

China’s Jingko Solar has started operating a new US$709 million factory in Vietnam’s northern province of Quang Ninh, The Investor is reporting. The new 31.3-hectare factory is expected to employ 4,500 workers when fully operational and generate revenue of US$4.07 billion annually.

NA delegates push to deregulate Vietnam’s gold market as prices soar

the-shiv October 26, 2023

The State Bank of Vietnam’s (SBV) monopoly over the import and export of gold bars has come under scrutiny at the National Assembly as the gap between domestic and world gold prices has widened, VN Express is reporting. Domestic gold prices of late have typically been US$500 to US$600 higher

Ho Chi Minh City Stock Exchange (HOSE) could see ‘frontier’ to ‘emerging’ upgrade by 2025

the-shiv October 26, 2023

Vietnam may allow HOSE brokers to vouch for foreign investors rather than waiting for confirmation funds are available to settle stock market transactions, Reuters is reporting. This delay in settlement on the grounds of confirmation of funds is one of two key hurdles the HOSE needs to fix before it

VN-Index 🡇 4.24 points (1,101.66) at close, October 25

the-shiv October 25, 2023

It was another slide for the HOSE on Wednesday finishing the day just over four points down, closing at 1,101.66. Foreign investors continued to net sell pulling another US$22 million from the market. Foreign investor trades on HOSE October 19 to 25 Buy Sell Change Date VND US$ VND US$