Vietnam news in English for foreign firms doing business in Vietnam

The number of stock trading accounts in Vietnam has fallen for a second consecutive month, according to data from the Vietnam Securities Depository and Clearing Corporation. Where as there were 7,445,544 accounts at the end of October, at the end of November there were 7,252,743, a drop of 192,081. This

Another super-car showroom opens in Vietnam

the-shiv December 15, 2023

Lamborghini has opened a super-car showroom in Vietnam’s Ho Chi Minh City, The News Market is reporting. The sports car company joins the likes of McLaren and Porsche which also have showrooms in one of Asia’s fastest growing economies. Of note, car sales have been down considerably this year as

Vietnam gains three points in English proficiency rankings

the-shiv December 15, 2023

Education First’s English Proficiency Index has found a slight improvement in English levels in Vietnam in 2023, VietnamNet is reporting. The report found the highest levels of English in the Red River Delta around Hanoi and that it sits around the middle among its key foreign direct investment competitors in

VN-Index down 4.07 (0.37 percent) to close at 1,110.13, December 14

the-shiv December 14, 2023

The VN-Index has finished Thursday in the red, down 4.07 points or 0.37 percent, to close at 1,110.13. Foreign investors continued their sell-off ith US$14 million net-pulled from the market bringing the total for the last five trading sessions to just over US$101 million. Foreign investor trading activity on the

‘Delist likely’ for Vietnam Airlines after 2022 annual report released: Ch-Aviation

the-shiv December 14, 2023

Well overdue, Vietnam Airlines has finally released its audited annual report for 2022 recording a loss for the year of US$460 million, with airline intelligence firm CH-Aviation suggesting delisting is now ‘likely’. Of note, the embattled airline is in negative equity and has reported three years of losses. Trading in

Vietnam car sales down 15 percent in November year-on-year

the-shiv December 14, 2023

There were only 26,439 new car sales in Vietnam in November representing a drop of 15 percent compared to November last year, Just Auto is reporting, referencing data from the Vietnam Automotive Manufacturers Association (VAMA). Just 240,027 were sold in the first 11 months of this year, down from 327,760

ADB cuts Vietnam growth forecast

the-shiv December 14, 2023

The Asian Development Bank (ADB) has cut its growth forecast from 5.8 to 5.2 percent, VN Express is reporting. Data is from the Asian Development Bank Outlook December 2023. Key reasons for the downgrade listed include: falling external demand; weak budget execution, particularly at the provincial level; and and a

Vietnam facing shortage of staff to register new cars pre-Tet

the-shiv December 14, 2023

Allegations of corruption against a number of individuals involved in the registration of motor vehicles and their subsequent suspension from work pending trial, has led to a shortage of staff for new registrations, Saigon News is reporting. Of note, 958 registrars are being prosecuted and 800 others have quit their

Vietnam draft solar decree no feed-in-tariffs sends ‘negative signal’

the-shiv December 14, 2023

A draft decree from Vietnam’s Ministry of Industry and Trade addressing rooftop solar says excess electricity can be fed into the grid but will not be paid for, has been met with some concerns, PV Magazine is reporting. The publication quotes solar analyst, Moritz Stitcher as saying “it sends another

VN-Index down 13.43 (1.19 percent) at close December 13

the-shiv December 13, 2023

The VN-Index has closed down 13.43 points or 1.19 percent to finish Wednesday at 1,114.20 points. Foreign traders continued to net-sell shedding another US$37.7 million worth of stocks. The most traded stocks among foreign traders were banks and telcos. Foreign investor trading activity on the HoSE, December 13 Buy Sell

Data: Vietnam’s imports by country, November 2023

the-shiv December 13, 2023

Vietnam recorded imports of just over US$29.5 billion in November of 2023 according to Vietnam’s General Department of Customs. It’s top five market for imports were China, Republic of Korea, Japan, Taiwan, and the United States of America which collectively accounted for just over two thirds of Vietnam’s imports. Vietnam

Data: Vietnam Exports by Country, November 2023

the-shiv December 13, 2023

Vietnam recorded exports of just over US$30.5 billion in November of 2023 according to Vietnam’s General Department of Customs. The United States of America continues to buy the most of Vietnam’s exports followed by China, Japan, and then the Republic of South Korea. Those four markets accounted for nearly two

Trading suspended in Vietnam’s APAX Holdings after move to HNX

the-shiv December 13, 2023

Apax Holdings, parent company of the Apax Leaders chain of English centres has seen its shares suspended on the Hanoi Stock Exchange (HNX) immediately after being listed, VN Express is reporting. The company was transferred to the exchange from the Ho Chi Minh Stock Exchange for disclosure violations. It has

Retail electronics price wars in Vietnam deterring foreign investors: FPT exec

the-shiv December 13, 2023

Electronics retailers are being driven to slash prices to keep up with their competitors and this is eating into profit margins which is deterring foreign investors, Ngo Quoc Bao, Senior Director of Corporate Customers and Customer Experience at FPT Retail has told Tuoi Tre. Of note, the article mentions that

Chinese electronics firm receives in-principal support for project in northern Vietnam

the-shiv December 13, 2023

China’s Perfect Light, a wafer technology firm, is looking to build a US$51.5 million project in Vietnam’s Hai Duong province, The Investor is reporting. The project would take up 9 hectares of Cong Hoa Industrial Park and employ an estimated 700 people when completed.

Singapore packaging firm to expand investment in southern Vietnam

the-shiv December 13, 2023

Singapore’s Tetra Pak is set to add another US$43 million to its investment in southern Vietnam’s Binh Duong province, The Investor is reporting. The investment brings the total value of its investment to US$173 million. The company currently manufactures a range of packing products in the country.

Singapore, Malaysia real estate firms launch US$241.1 million joint project in Vietnam

the-shiv December 13, 2023

Singapore’s CapitalLand and Malaysia’s United Overseas Australia are working together to develop a mixed-use real estate project with US$247.1 million in Vietnam, The Investor is reporting. No details are provided regarding where the project will be developed.

VN-Index up 2.13 (+0.19 percent) to close at 1,127.63, December 12

the-shiv December 12, 2023

The VN-Index finished Tuesday up 2.13 points to close at 1,127.63 points.

British diplomatic cables raise series of concerns about Vietnam’s JETP

the-shiv December 12, 2023

British diplomatic cables seen by Political reveal a number of concerns about how Vietnam’s Just Energy Transition Partnership Resource Mobilisation Plan was put together, the publication reported December 8. Politico’s article has a number of choice quotes that reveal the development of the plan and its implementation may not be

Fitch Ratings gives Vietnam a BB+ rating with a stable outlook

the-shiv December 12, 2023

Rating agency Fitch Ratings has upgraded Vietnam’s rating from BB to BB+ and said the outlook is stable, according to a press release December 8. The upgrade was based on: robust foreign direct investment (FDI) inflows; and confidence… property-sector stresses, weak external demand and delays in policy implementation owing to