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Site clearance issues delay Vietnam’s first LNG power plant, adding to electricity woes

Site clearance delays are hampering an LNG power project in southern Vientam, reportedly at a cost of VND 13 billion or US$510,645 per day, Tuoi Tre has reported.

Of note, site clearance is a common problem on most projects in Vietnam. This in large part stems from land pricing regulations that see a price set every five years based on which, using their own coefficients, local governments determine the price of land. The problem is that land values increase faster than the centrally set price and, believing their land to be worth more, landowners refuse to sell. That said, this should change next year when the new Law on Land comes into force. This will see the five-year intervals reduced to just one.

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Vietnam-US Trade Tracker: May 2024 Update [data set]

The United States is the biggest buyer of Vietnam’s exports and together the two countries engage in over US$100 billion worth of trade each year. This tracker looks at what is imported from the US and exported to the US from Vietnam using the most recent data available.

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Proposal to increase foreign ownership limits in airlines in Vietnam rejected

The Vietnam airline industry has been struggling broadly as a result of government regulated ticket prices, increasing fuel costs, and a debt hangover from the COVID-19 pandemic when the industry more-or-less ground to a halt. Bamboo Airways, in particular, only took to the skies in 2019 the year before the pandemic broke out. It also started life as a subsidiary of FLC Group which has been heavily mired in controversy after its leader was arrested back in 2022. This saw the airline spun off but the new independent entity has never had much success and has repeatedly downsized its fleet and the number of routes it offers…

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Adidas, New Balance suppliers struggling to find workers in southern Vietnam

Some of the challenges raised in this article, with respect to hiring workers, is that workers have more job options other than factory work, workers no longer need to move to population centres with many manufacturing operations opening in tier two cities and provinces, and workers that moved back to their hometowns during the COVID-19 pandemic have still not returned on the back of the general uncertainty that the pandemic created.

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Korea’s Daewoo looking at making cars in Vietnam

Vietnam’s automotive industry is huge but dominated by motorcycles. That said, cars are becoming more popular with just shy of 5 million registered vehicles at the end of 2020. This does, however, represent just 5 percent of the population of 100 million people which means there is plenty of room for car sales to grow…

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Russian president could be in Vietnam next week: Reuters

Vietnam has remained cordially with Russia throughout the Ukraine War. The Southeast Asian nation is heavily dependent on Russia for its arms supplies but also has a strong bond with the country on account of their similar political pasts. This has seen Russian tourist arrivals grow by 80 percent in the first five months of this year over the first five months of 2023 and…

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