Vietnam news in English for foreign firms doing business in Vietnam

China’s Longstar Lighting Ha Mon Company is set to invest US$25 million in a new factory in Vietnam’s Thai Binh province, The Investor is reporting. The factory will manufacture and assemble LED bulbs and auxiliaries over the four-hectare site. It is expected that when fully operational the factory will have

Taiwan PC input device maker approved for new factory in northern Vietnam

the-shiv October 5, 2023

Taiwan’s Goodway Cayman Company is set to invest US$45 million in a new factory in Vietnam’s Thai Binh province, The Investor is reporting. The factory will make electronic devices and computer peripherals. Covering five hectares, Goodway Cayman estimates the new factory will generate US$180 million a year.

Taiwan optical device maker approved for new factory in northern Vietnam

the-shiv October 5, 2023

Taiwan’s Pegavision, a major manufacturer of soft contact lenses and other assorted medical optical devices, has been approved to build a lens factory in Thai Binh to the tune of US$200 million, The Investor is reporting. Covering 10 hectares, Pegavision is anticipating revenues of US$114 million a year when completed.

Foreign trading on the HOSE, October 4

the-shiv October 5, 2023

The VN-Index closed slightly higher on Wednesday at 1,128.67 points, VN Express is reporting. It is still, however, well down for the week and the lowest it has been since July. Foreign investor trading activity, October 4 VND (billions) US$ Bought 1,374 9,480,600 Sold 1,186 8,183,400 Change 188 1,297,200 Most

Economic challenges according to head of Vietnam’s General Statistics Office

the-shiv October 5, 2023

Vietnam News is carrying a translation of an interview Huong Thi Nguyen, Director of the General Statistics Office (GSO) gave to Bao Tin Tuc, in which she addresses the outlook for Vietnam’s economy toward the end of the year. She notes three key challenges facing the economy: Firms are struggling

Foreign direct investment in real estate down 45 percent year-on-year

the-shiv October 5, 2023

FDI in the real estate sector reached US$1.94 billion in the first nine months of 2023, down 45 percent year-on-year, Vietnam Plus is reporting. Why it matters: The real estate sector has hit hard this year on the back of bond frauds and several high-profile arrests in the sector. This

New short-term capital lending regulations come into force this week

the-shiv October 5, 2023

New regulations from the State Bank of Vietnam that limit the short-term capital (i.e. the money in everyday accounts) to 30 percent of the cash used for medium and long-term loans down from 34 percent, has come into effect, Vietnam News is reporting. Note: Vietnam’s banking sector is still developing

New securities trading accounts in Vietnam at near record highs in September

the-shiv October 4, 2023

Individual investors opened 172,605 new securities accounts in September the second highest number opened in a single month in more than a year, according to VN Economy. A total of 253 of those accounts belonged to foreign investors. Of note: The VN-Index was rising steadily on the back of increasingly

Ministry of Construction report shows real estate supply-demand mismatch

the-shiv October 4, 2023

A report issued by the Ministry of Construction has found that new residential real estate developments are stagnant but demand for housing is high and that’s pushing up prices, The Investor is reporting. The article says the completion rate of new buildings is well down due to legal hurdles and

French-Polish freeze-dried instant coffee plant starts work in southern Vietnam

the-shiv October 3, 2023

Last week, France’s Louis Dreyfus Company and Poland’s Instanta Sp. z o.o. inaugurated a freeze-dried instant coffee production facility in Vietnam’s Binh Duong province (next door to HCMC), Vietnam News has reported. The project has cost US$84.2 million to put together and has a capacity of 5,600 tonnes. See also:

World Bank expecting growth of 4.7 percent from Vietnam this year

the-shiv October 3, 2023

In its East Asia and The Pacific Economic Update for October the World Bank has said it expects Vietnam’s GDP to grow by 4.7 percent this year and 5.5 percent next year, The Investor is reporting. The publication notes that Vietnam is now trailing regional peers the Philippines (5.6 percent),

SK carbon fiber firm has in-principle support for factory in southern Vietnam

the-shiv October 3, 2023

The Ba Ria-Vung Tau’s industrial park authority has given in-principal approval for South Korea’s Hyosung to construct a US$540 million carbon fiber factory, The Investor is reporting. In its initial phase, the factory will have the capacity to produce 4,800 tons of carbon fiber products. There are plans to expand

Unusually low startup funding reported for Vietnam in Q3

the-shiv October 3, 2023

In the third quarter of this year, Vietnamese tech startups received US$50.1 million in funding the Vietnam Investment Review is reporting citing data from Tracxn. The publication is saying this is a 504 percent increase on Q2 startup funding, however, Deal Street Asia put startup funding in Vietnam in Q2 of

Vietnam launches antidumping investigation into wind turbine towers from China

the-shiv October 3, 2023

The Ministry of Industry and Trade has launched an investigation into wind turbine towers imported from China at the request of CS Wind Vietnam, a subsidiary of South Korea’s CS Wind, The Leader is reporting. Why it matters: This goes to the changing nature of trade with Vietnam, specifically the

Is Google really considering shifting production from Vietnam to India?

the-shiv October 3, 2023

India’s Firstpost is reporting that Google is considering shifting production of Pixel devices from Vietnam to India after footage of the Google Pixel 8 Pro was leaked from a Vietnamese factory. A handful of other outlets have also jumped on this story, however, its origins are somewhat shady. The source,

Vietnam animation in legal dispute with Peppa Pig to air on China TV

the-shiv October 2, 2023

Vietnamese animated series Wolfoo, has been licensed by the China National Radio and Television Administration to be shown on television in Vietnam’s neighbour to the north, The Leader is reporting. Why it matters: Sconnect, the makers of Wolfoo are currently embroiled in a copyright infringement lawsuit in the UK with

Vietnam’s manufacturing sector contracting again: S&P’s PMI

the-shiv October 2, 2023

S&P Global’s Purchasing Managers’ Index recorded a drop in September to 49.7 from 50.5 in August, The Investor is reporting. The article goes on to point out that the General Office of Statistics’ Industrial Production Index went the other way and recorded a 0.1 percent increase from August. The full

National Geographic taken off the air in Vietnam

the-shiv October 2, 2023

The National Geographic channel, as well as Nat Geo Wild, and Baby TV, have stopped broadcasting in Vietnam, VN Express is reporting. These channels were available via cable TV company MSky. Why it matters: This is inline with Disney pulling its channels from a number of regional markets on a

Labour lawsuit brought against Vietnam Cinema chain by expat employee dismissed

the-shiv October 2, 2023

A wrongful termination lawsuit raised against Vietnam cinema chain CGV by a British ex-employee has been dismissed by a court in Ho Chi Minh City, VN Express is reporting. Why it matters: Of particular interest in this case is that it has taken eight years since the court agreed to

Vietnam revises growth expectations down to 6 percent

the-shiv October 2, 2023

Bloomberg is reporting that a statement on the government’s website on Saturday said that 6 percent growth this year was the best Vietnam could hope for, but it was unlikely to be less than 5 percent. In the first nine months of the year, Vietnam recorded growth of 4.24 percent,