Vietnam news in English for foreign firms doing business in Vietnam

Despite the October decline, year-to-date performance remains strong. From January to October, Vietnam exported fruits and vegetables valued at US$6.16 billion, representing a 27.8 percent increase compared to the same period in 2023…

Vietnam’s electrical equipment manufacturing sector sees strong year-over-year gains in October

the-shiv November 24, 2024

Overall, electrical equipment manufacturing surged by 9.9 percent from September 2024 and recorded a substantial 15.4 percent increase compared to October 2023. Year-to-date growth in this segment stood at 10.8 percent, driven by rising demand for electrical infrastructure and equipment both domestically and for export…

Vietnam retail sales see marginal growth in October

the-shiv November 24, 2024

Year-to-date, total retail sales amounted to VND 4,833.76 trillion, or US$190 billion. This cumulative performance underscores the robust demand in Vietnam’s retail market, driven by both general goods and services.

Vietnam’s data centre storage market to double by 2029 amid digital transformation

the-shiv November 24, 2024

The report goes on to say that the demand for scalable and reliable data storage solutions is rising as Vietnamese businesses transition from traditional methods to digital platforms. Significant contributors to this trend include the finance, e-commerce, telecommunications, healthcare, and government sectors, which are generating and processing vast amounts of data daily…

Vietnam Report releases list of top pharma companies, pharma distributors

the-shiv November 24, 2024

Market research firm Vietnam Report has compiled a list of the top ten pharmaceutical companies in Vietnam and the top ten pharmaceutical distributors. The results were determined by looking at the firms’ financial performance and analysing media coverage as well as through a survey conducted between October and November of this year…

Bitcoin price jump sparks flurry of interest in Vietnam

the-shiv November 24, 2024

News outlet An Nhin Tu Do, which cites several of the aforementioned ‘studies’, the most extreme of which estimates crypto ownership by 25.9 million Vietnamese or one in four people, has suggested the jump in price has made Vietnamese crypto investors ‘restless’. It goes on to cite Financial expert Phan Dung Khanh as saying that Vietnamese crypto investors tend to trade based on a fear of missing out (READ: buy into hype)…

Chinese FDI in Vietnam reaches US$3.61 billion year-to-date, October shows steady growth

the-shiv November 24, 2024

The high number of projects in October highlights China’s continued commitment to investing in Vietnam, particularly in sectors like manufacturing, energy, and infrastructure. Despite a lower investment value in October compared to September, the steady increase in the number of projects underscores the expanding footprint of Chinese enterprises in Vietnam…

Vietnam Advance Film Material increases investment in northern Vietnam industrial park by US$60 million

the-shiv November 24, 2024

The facility specialises in producing PV film, a critical supporting layer for photovoltaic panels, with an annual production capacity of 155,000 tons. The project creates employment for 231 workers and is expected to generate an annual export value of US$60 million…

Vietnam’s footwear exports surge in October, maintain strong year-to-date growth

the-shiv November 23, 2024

Year-to-date figures also show solid growth. From January to October, Vietnam exported footwear worth US$18.57 billion, a 12.9 percent increase compared to the same period in 2023…

Korean FDI in Vietnam hits US$3.56 billion year-to-date, with strong October performance

the-shiv November 23, 2024

October 2024 saw a notable rise in Korean FDI, with 76 new projects valued at US$663 million. This marked a significant increase compared to September, which recorded only 26 projects worth US$1.05 billion. The surge in October highlights the continued confidence of Korean investors in Vietnam’s economic potential…