economy
The Economy category covers macroeconomic trends, fiscal policies, trade performance, and financial markets. It explores GDP growth, inflation, employment, investment flows, and regulatory changes, providing insights into economic stability, global trade relations, and policy impacts. This section serves as a resource for businesses, investors, and analysts monitoring economic developments.
Vietnam’s Imports and Exports, March 2024: Snapshot
Vietnam’s General Department of Customs has released import-export data for March of 2024. Here’s what it has found. Vietnam imports by item, March 2024 March MOM % 2024 YOY % Computers, electrical products, spare-parts and components thereof 8,406,551,184 18.7 24,042,310,269 24.1 Machine, equipment, tools and instruments 3,758,610,687 45.5 10,344,804,723 12.5
AMRO report finds Vietnam GDP likely to grow at 6 percent in 2024
The ASEAN Macroeconomic Research Office has released its Annual Consultation Report Vietnam – 2023 which forecasts a GDP growth rate of 6 percent this year. Other key takeaways from the report include: The expansion is predicted to be off the back of increased exports and increased foreign direct investment; Risks
Business confidence in Vietnam improves in Q1 2024: Eurocham
Eurocham and Decision Lab have released their quarterly business climate index for Q1 which has found a slight increase in business confidence. The index recorded a score of 52.8 up from 46.3 but still well below the all-time high of 86 recorded in 2016. Of note, new in this report
Credit growth in Vietnam just 1 percent for first quarter 2024
Vietnam’s credit growth for the first quarter of 2024 was just 1 percent, according to Deputy Governor of the State Bank, Dao Minh Tu, and reported by VN Express. This is a far cry from where it was at the same time last year–2.56 percent–and does not bode well for
United Overseas Bank predicts Vietnam GDP growth of 5.5 percent in Q1
This is an increase over the 3.3 percent Vietnam saw in the first quarter of last year, VN Express is reporting. The bank predicts 6 percent credit growth for the year. Of note in this article: According to one quote GDP growth will be linked to the recovery of the
Vietnam’s Imports and Exports, February 2024: Snapshot
Vietnam’s General Department of Customs has released import-export data for February of 2024. Here’s what it has found. Vietnam imports, February 2024, by item February Year to date Description US$ MOM % US$ YOY % Computers, electrical products, spare parts and components thereof 7,083,862,528 -17.2 15,640,557,472 25.0 Machine, equipment, tools,
Analysis of Vietnam’s approach to trade union reforms per the EVFTA/CPTPP
DW is carrying this analysis of Vietnam’s approach to ratifying the UN International Labor Organization’s Convention 87 which would allow independent trade unions in Vietnam. Of note, it carries comments from Joe Buckley, a researcher specialising in labour and development in Southeast Asia. He points out that Vietnamese law makes
This opinion piece in support of redesignating Vietnam a market economy
John Borton, a non-resident senior fellow at Johns Hopkins/SAIS Foreign Policy Institute, has written an opinion piece for the Geopolitical Monitor in which he argues for making Vietnam a market economy. Borton argues that: There would be bilateral benefits in market access and export opportunities; Other countries have already done
This opinion piece re: US dollar, gold prices in Vietnam
Penned by Nguyen Huu Huan, an economist at the Ho Chi Minh City University of Economics, this piece in The Investor makes several points about US dollar and gold prices in Vietnam. These include: Gold fever is being driven by a lack of other investment options; The rising price of
Vietnam banks continue to reduce deposit interest rates
VP Bank, for example, is offering an interest rate of 4.8 percent on a 12-month term deposits, Zing News is reporting. Note that Vietnam has a target for inflation of 4 to 4.5 percent. This suggests that, despite a jump in interbank interest rates in February, banks still have abundant
HCMC customs steps up action against imports, exports of firms with unpaid taxes
Specifically, the Ho Chi Minh City Customs Department has stopped import and export procedures for Gia Dinh Textile and Garment Company over VND 100 billion (US$4 million) in unpaid taxes, VN Express is reporting. This is yet another instance of Vietnam customs being used to collect tax debts. At the
Unpacked: Vietnam’s Non-Market Economy Review
In 2021, it was announced that raw honey from Vietnam would be subjected to antidumping tariffs in the United States. Vietnam was not alone, Argentina, Brazil, and India were also subjected to similar orders. What was different for Vietnam, however, was how the US Department of Commerce–the DOC–carried out its
Feb, Jan see abnormally high number of Vietnamese businesses close
In the first two months of this year there were 41,100 enterprises newly registered or that went back into operation after a hiatus, in Vietnam, according to Doanh Nhan Vietnam. There were, however, 63,000 businesses that withdrew from the market at the same time–a net-closure of 21,900 businesses. This is
Vietnam’s Economy, February 2024: Snapshot
February kicked off in Vietnam with coverage of comments made at an online press briefing in which US Under Secretary of State Jose Fernandez insisted that the Department of Commerce’s review of Vietnam’s non-market economy status would not be politicised. This was after a letter surfaced a few days earlier
Vietnam’s Industrial Production Index falls 18 percent in February
Vietnam’s General Office of Statistics has found that Vietnam’s Industrial Production Index decreased by 18 percent in February compared to January and 6.8 percent compared the February of 2023. Note that last year the Lunar New Year, for which there are five public holidays, was in January in 2023 but
Vietnam FDI in January broken down by industry/type
Vietnam’s FDI in January reached just over US$2.23 billion. Real estate attracted the most new foreign capital accounting for a little more than half of the total FDI received. It was followed by manufacturing and processing which also had a healthy January recording 63 new projects worth just under US$716
Vietnam set to ratify key UN trade union convention this year
Vietnam is set to ratify the UN’s Freedom of Association and Protection of the Right to Organise Convention this year, Reuters is reporting citing UN officials and diplomats.This would essential give workers the right to organise their own trade unions independent of the government–currently, all trade unions must be affiliated
This analysis of Vietnam’s ‘blazing furnace’ corruption crackdown
The Diplomat is carrying an article by Mai Truong, an Assistant Professor of Political Science at Marquette University in the USA in which she argues that the current corruption ‘crackdown’ in Vietnam may backfire. Truong argues that the ‘crackdown’: Could encourage citizens to become more political engaged; Could expose internal
Vietnam imports itemised: January 2024
In January, Vietnam imported US$30.9 billion worth of goods. The three most imported items were computers, electrical products, spare-parts and components thereof; machine, equipment, tools and instruments; and fabrics. Collectively these three items accounted for US$13.7 billion worth of Vietnam’s imports. Vietnam imports, January 2024, by value Description US$ Change
Claims state power provider electricity bills up to three months late
The Ho Chi Minh City Customs Department is enforcing a decision to block the import and export of goods by the Trung Nam Group, over unpaid taxes, VN Express is reporting. Of particular interest in this article, however, is that Trung Nam Group has claimed the delay has been caused
In today’s Vietnam news: VN renews antidumping tariffs on Thai sugar, Power supply challenges continue, USTR tariffs forced labour, AMRO growth forecast downgrade, Foreign
In today’s Vietnam news: Fund outflows May, New HCMC airport trial operations to begin September, M&A HCMC 2026, Compensation for gas-to-electric bike switch Hanoi,
In today’s Vietnam news: Vietnam gene company planned Hong Kong IPO, Samsung signs DPPA, Oil delivery from Iraq, Bio-fuel mandate roll-out reaction, Stock market
This is an interview with Chris Walker, a Vietnam Sourcing Expert with Vietnam Factory Tours how rising oil prices and the Middle East crisis are
This is an interview with John Gardner, CEO and Founding Partner, at Optimum Hospitality in Ho Chi Minh City. It covers fuel price impacts on:
This is an interview with Dr Nuno F. Ribeiro, Associate Professor, International Tourism & Hospitality Management at Copenhagen Business College, formerly of RMIT Vietnam. It