vietnam
The Vietnam category covers economic developments, investment trends, and policy updates specific to the country. It explores market opportunities, trade relations, industry growth, and government initiatives, providing insights into Vietnam’s role in global supply chains, emerging sectors, and foreign business expansion.
Vietnam responds to Commerce finding on non-market economy review
“If the US Department of Commerce had reviewed the records and practices in Vietnam objectively and fairly, it would have been able to acknowledge the fact that Vietnam is a market economy,” Vietnam’s Ministry of Industry and Trade has said in a statement.
Hong Kong firm considers Vietnam-based phone component plant
Of note, in June, Vietnam’s phone and component exports surged 18.4 percent month-on-month, reaching nearly US$4.75 billion.This robust growth has solidified Vietnam’s position as the world’s second-largest exporter of smartphones and components.
Vietnam considers rolling back drink-driving penalties
It is not clear what has driven the MPS to suggest these changes, however, it should be noted that the alcoholic beverage industry has repeatedly complained that enforcement of Vietnam’s strict drink driving laws has impacted sales significantly. In fact, Heineken cited the laws as one reason why it had to close a production facility in Vietnam’s Quang Nam province earlier this year.
Vietnam to remain non-market economy: US Department Of Commerce
The United States Department of Commerce has said in a statement that Vietnam will remain a non-market economy for trade remedies purposes. This ends a months long review of Vietnam’s non-market economy status by the department which reached its findings on the back of “sustained and pervasive government influence” over
World Bank recommends Vietnam raise alcohol excise tax to 155 percent
The World Bank reportedly does not believe the current tax increase slated for beer and wine in Vietnam are sufficient–The Ministry of Finance has a plan on the table to increase the SCT to 90 percent for beer and between 60 to 100 percent for wine and liquor. This would be an increase from 65 percent on beer and between 35 and 65 percent for wine and hard liquor depending on the alcohol content…
Hong Kong based Apple supplier to build aluminium factory in Vietnam
This move aligns with the rapidly growing demand for aluminum in Vietnam spurred by new factories belonging to major electronics manufacturers from Taiwan and South Korea, like Foxconn and LG–Foxconn has announced an increase in its investment in Vietnam to US$52.6 million, and LG is set to complete its factory complex in 2025 doubling its investment in Vietnam.
Vietnam News Roundup: July 26 to August 1
This week’s Vietnam news roundup covers foreign trader stock market activity, credit growth, the consumer price index for July, foreign direct investment data, S&P’s Purchasing Managers’ Index, an EU dumping complaint against Vietnamese steel, and more…
[press release] Rockbird Media Brings Retail, E-Commerce Summit to Vietnam
The issuer is solely responsible for the content of this announcement. Ho Chi Minh City, Vietnam – Following the successful run of the Retail & E-Commerce Summit Asia (RESA) across Southeast Asia, rockbird media is thrilled to unveil the next chapter of the summit in a new destination: Vietnam. Under
Vietnam on track to become world’s fifth-biggest coal importer
The International Energy Association Coal Mid-Year Update 2024 has found that Vietnam is on track to become the fifth biggest importer of coal in the world. Vietnam’s coal imports were up 38.6 percent in terms of volume and 14.5 percent in terms of value by the end of June…
Vietnam Purchasing Managers’ Index remains steady at 54.7: S&P Global
S&P Global’s Vietnam Purchasing Managers’ Index recorded 54.7 points in July which was the same as in June. S&P Global says this was on the back of a ‘substantial rise’ in new orders. It does, however, note that to fulfil these orders firms relied largely on finished goods already on
India’s Adani considering Vietnam seaport, airports, thermal power investments
Of note, Adani is currently invested in just two projects in Vietnam, a wind power plant and a solar power plant the latter of which has run into problems with poor infrastructure forcing the plant to curb power production back in 2022.
Is a Sugar Tax Right for Vietnam?
A sugar tax has been on the cards for Vietnam for some time now and may be drawing closer to becoming a reality. It has, however, been met with broad push back from industry and industry groups. This article looks at the public debate around a possible sugar tax in Vietnam, the impact it might have, and what foreign-owned businesses should be mindful of in this context.
Dumping complaint received by European Commission RE: Vietnamese steel
Trade remedies against Vietnam’s exports have increased significantly in recent years in large part due to Chinese firms using Vietnam as a thoroughfare to avoid tariffs on Chinese exports in other parts of the world. Electric bikes and solar panels, for example. It’s not clear that this is the case with HRC but if the EU finds as such it should not come as a surprise…
Korea, US partnership on rare earths to boost industry in Vietnam
Of note, the US Geological Survey’s Mineral Commodity Summaries 2024 estimated Vietnam’s rare earth reserves to be in the vicinity of 22 million tons. China, which has the largest reserves, for comparison, is estimated to have double that at 44 million tons, and Brazil which comes in third place has roughly 21 million tons. But having all of these reserves is one thing, getting them out of the ground is quite another…
How is the EVFTA Working Out for Vietnam?
On Thursday, Vietnam and the European Union will mark the fourth anniversary of the European Union Vietnam Free Trade Agreement or the EVFTA for short. This agreement has brought down tariff barriers and boosted trade but it hasn’t been without its challenges, some of which still persist. This article looks at how this landmark agreement has been implemented, the challenges it has faced, and the challenges it still faces…
Vietnam animal feed imports up 9.6 percent in first half 2024
This is partly because corn and soya beans, common components in animal feed, are produced domestically but at low yields and subsequently a higher cost compared to global prices. Vietnam imports these commodities from countries such as Brazil, Argentina, and the United States. In the first half of 2024, Vietnam’s import value of corn and soya beans reached US$1.2 billion and US$561 million respectively…
Olympics kicks off but Vietnam won’t be watching with no broadcast rights
Notably, Vietnam was relatively late securing the rights to the Tokyo Olympics with a deal only made two-days before the opening ceremony. A last minute deal this time around, however, seems unlikely–it would be very last minute. That said, it’s not clear there is a lot of interest in Vietnam in the Olympics anyway and it could be that cash strapped local media outlets are saving their money for sports, namely soccer, that are hugely popular in Vietnam and subsequently command much bigger audiences…
Vietnam land values set for big jump as new Law on Land takes effect
Land values in Vietnam’s Ho Chi Minh City could jump by up to 51 times their current values if new draft land prices for the city are approved next month, Tuoi Tre is reporting. Already pricey areas of HCMC would also jump by up to five times with high-end shopping strip Dong Khoi Street set to command up to VND 810 million, or US$32,000 per square metre. This is one outcome of the new Law on Land…
First half jump in Vietnam fish exports opportunity for foreign aquatic feed firms
Vietnam’s fisheries are a core part of its economy, ranking fifth in export value. The aquatic feed market, however, is largely dominated by foreign companies. For pangasius feed, foreign enterprises such as the US’s Cargill, Thailand’s Green Feed, and Netherlands’ De Heus hold about 65 to 70 percent of the market share. Similarly, the shrimp feed market is entirely dominated by foreign firms such as Taiwan’s Uni–President, Thailand‘s CP and France’s Tomboy…
Deputy PM pushes for greater grid feed-in allowances for rooftop solar
Of note, originally the MoIT had been pushing for no feed-in tariffs on rooftop solar. It had then, at the request of the government, reluctantly agreed to have feed-in tariffs–paid at about 2.6 cents per kilowatt-hour–but limited to just ten percent of the installation’s capacity. This is off the back of past rooftop solar policies causing broad challenges for Vietnam’s electricity sector…
In today’s Vietnam news: Crypto transfers to VN not necessary, Novaland bond changes, Perspectives on garment industry, Working hours cut proposed, Adding political component
In today’s Vietnam news: Fuel prices cut, Double-digit growth target reinforced, New airport services delay approval requested, TikTok VN investment, Bybit in Vietnam, LG
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
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