Vietnam news in English for foreign firms doing business in Vietnam

Investment firm VinaCapital published notes from an investor conference earlier this month in which it said it believes Vietnam’s GDP for the year will come in at under 5 percent, but also that the recent ‘Comprehensive Strategic Partnership’ Vietnam signed with the United States may signal a step toward Vietnam

Standard Chartered cuts Vietnam growth forecast for 2023

the-shiv October 25, 2023

Standard Chartered has cut its GDP growth forecast for Vietnam this year from 5.4 percent to 5 percent, The Investor is reporting. This is mostly in line with revised government forecasts as well as those of a number of big institutions–the World Bank, International Monetary Fund, and the Asian Development

Columbia Sportswear looking to ‘near-shore’, may cost Vietnam

the-shiv October 25, 2023

US apparel brand Columbia Sportswear is in the process of ‘near-shoring’ its manufacturing operations out of Asia (Columbia Sportswear has around 190 contract suppliers in Vietnam) to Central America, the New York Times is reporting. Key Columbia Sportswear executives quoted cite their move from China to Vietnam as problematic with

Vietnam’s bad debt ratio almost doubled from January to July

the-shiv October 25, 2023

Vietnam’s bad debt ratio has gone from 2 percent in January to 3.56 percent by the end of July, according to the State Bank of Vietnam and reported by Vietnam Plus. Vietnam’s economy has been struggling since the end of last year when limits on how much credit banks were

VN-Index 🡅 12.37 points (1,105.90) at close, October 24

the-shiv October 24, 2023

The HOSE recovered almost all of yesterday’s losses today closing the session at 1,105.90 up 1.13 percent or 12.37 points, according to HOSE data. Foreign traders, on the other hand, net sold for the day to the tune or VND 458 billion or US$18.6 million. Foreign investor trades on HOSE

Vietnamese coffee brands expand abroad, quality over quantity key

the-shiv October 24, 2023

Doanh Nhan Vietnam is carrying an article about Vietnamese coffee chains expanding into international markets. Of particular interest, however, is a quote in the article from the former Marketing Director of Cong Coffee, Tran Tien Dat, in which he explains Cong Cafe’s thinking when it comes to expanding. “One of

Aussie firm still keen on VN rare earth mine after arrest of local partner

the-shiv October 24, 2023

Australia’s Blackstone Minerals has said it intends to follow through on plans to participate in an auction of concessions on a rare earth mine in northern Vietnam, even though its local partner was arrested last week, The Investor is reporting. Last week, Blackstone and Vietnam Rare Earth JSC (VTRE), the

Japan electronics manufacturer to build new factory in northern Vietnam

the-shiv October 24, 2023

Japan’s Meiko Electronics, intends to start work on a US$200 million circuit board factory in northern Vietnam’s Hoa Binh province next year, The Investor is reporting. This will be Meiko’s fourth factory in Vietnam where it has currently invested US$500 million and employs 7,000 workers.

Taiwan electronics manufacturer to build new factory in northern Vietnam

the-shiv October 24, 2023

Taiwan’s P-Duke Technology, which is most well known for power converters, is set to build a new US$8 million in northern Vietnam’s Nam Dinh province, The Investor is reporting. The Taiwanese firm is expected to start operating the 3.2-hectare factory in October 2025,

Barely a quarter of Vietnam’s workforce has a degree, formal qualifications

the-shiv October 24, 2023

Just 14 million or 26.8 percent of Vietnam’s workforce have a degree or formal qualifications, Doanh Nhan Saigon is reporting. A further 33 million workers or 66.6 percent of the workforce are also employed in informal work–subsistence farming for example. This suggests that low-cost labour may be an option for

Is Vietnam really at risk of a labour shortage?

the-shiv October 24, 2023

There were 22.6 million people aged between 15 and 24 in Vietnam, in 2020, but by the end of 2022 that number had dropped to 20.7 million, and this is putting Vietnam at risk of a labour shortage, VN Express is reporting. The article discusses Vietnam’s ‘golden population’ structure and

10,000 dongs worth of T-bills expired yesterday, replaced with just 850

the-shiv October 24, 2023

The State Bank of Vietnam issued a tranche of T-bills yesterday valued at 850 billion dong or US$34 million, according to the SBV’s website. At the same time, 28-day T-bills to the tune of VND 10 trillion or US$409 million matured–a replacement rate of less than 10 percent. It’s not

VN-Index 🡇 14.5 points (1,093.53) at close, October 23

the-shiv October 23, 2023

The HOSE did not start the week well, finishing down 14.5 points to end the day at 1093.53, losing almost all of the gains it made Friday, according to HOSE data. On the up side, foreign investment in the market grew, but only marginally. Foreign investor trades on HOSE October

🇻🇳 National Assembly to pass 9 new laws over the next 22 days

the-shiv October 23, 2023

Vietnam’s National Assembly is currently sitting and is expected to pass nine laws over the next 22 sitting days, The Investor is reporting. Legislation to be passed: Amended Land Law; Amended Law on Real Estate Business; the Amended Housing Law; the amended Law on Water Resources; the Amended Law on

Is Vietnam’s stock exchange losing its appeal to foreign investors?

the-shiv October 23, 2023

Foreign traders withdrew VND 11.46 trillion (US$467 million) from the Ho Chi Minh Stock Exchange in the first nine months of this year, Vietnam News is reporting. The article notes that there are 40,200 foreign individuals and 4,506 foreign institutions with accounts for a total of 44,700 accounts belonging to

Japan’s AEON Group drops US$175 million on Vietnam financial services company

the-shiv October 23, 2023

SeABank has sold Post and Telecommunications Finance Company Limited (PTF), one of Vietnam’s first non-bank credit institutions, to AEON Financial Services, for VND 4.3 trillion (US$175.2 million), Vietnam News is reporting. PTF was sold to SeABank by VNPT in 2018 for 710 billion VND (US$29 million).

Vietnam’s Bamboo Airways “a bizarre mess of an airline”

the-shiv October 23, 2023

In a frank assessment of Bamboo Airways, Ben Schlappig, the founder of the One Mile At A Time travel blog, dubbs the airline a “bizarre mess” after it ditched its long-haul flight roster. He goes on to say its growth plans ‘made no sense’ to begin with and raises concerns

Japan wine distributor enters Vietnam market

the-shiv October 23, 2023

Enoteca, a wine distributor from Japan, has officially registered a subsidiary in Vietnam, Vino Joy News is reporting. Details on their market entry plans are limited, however, Vina Joy notes that the company intends to operate in both the retail and wholesale spaces. Good wine is becoming increasingly popular in

VN-Index 🡅 20.18 points (1,108.03) at close, October 20

the-shiv October 20, 2023

After a week spent on a downward slope the VN-Index has seen its fortunes turn around finishing the week at 1,108.03 points, a 1.86 percent improvement on yesterday, according to HOSE data. Foreign investor trades on HOSE October 16 to 20 Buy Sell Change Date VND US$ VND US$ VND

Vietnam requests financing support for infrastructure projects from Saudi Arabia

the-shiv October 20, 2023

The Vietnamese PM, in Saudi Arabia for the ASEAN-Gulf Cooperation Council Summit, has requested the wealthy middle east country lend Vietnam funds to build new infrastructure projects including railways and urban infrastructure, VN Express is reporting. Why it matters: This is inline with Vietnam earlier this week requesting funds from