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.
China’s Chery to assemble electric vehicles in Vietnam
Vietnam’s electric vehicle market holds promise for foreign car manufacturers. Of note, electric car buyers are eligible for incentives such as exemption from registration fees for the first three years and a 50 percent fee reduction for the subsequent two years, per Decree 10/2022/NĐ-CP. Nevertheless, foreign car manufacturing firms may encounter challenges related to EV charging infrastructure and electricity supply shortages in Vietnam. These hurdles could potentially hamper manufacturers in expanding their market presence and sales…
Vietnam credit growth on the rise but still well below target
Of note, at the end of June last year, credit growth was sitting at about 4.73 percent. It also failed to climb much higher for most of the rest of the year until November when banks started to push consumer credit through aggressive marketing campaigns–credit growth jumped, as a result, from 7.41 percent at the end of October to 13.5 percent by the end of the year…
Vietnam could see net outflow of 300 high-networth individuals this year: report
Whereas the report says this is being driven by a search for greater opportunities, it should be noted that there are also push-factors driving migration abroad for wealthy Vietnamese. Prosecution of corrupt officials and business persons, whether legitimate or not, have become more common in the last couple of years. Wealthy Vietnamese that may be wealthy because they have acted in a not entirely above board way, could be looking for somewhere to flee should they find themselves in the crosshairs…
Real estate crowdfunding program halted not long after beginning in Vietnam
In the current economic climate, with deposit interest rates at historic lows, the local gold price much higher than the world gold price, and US dollars prices cresting all-time highs against the local currency, the need for a diversification of investment vehicles for Vietnamese consumers is becoming increasingly clear. Furthermore, Vietnam’s real estate market has been struggling to access capital on the back of a myriad of challenges the industry has faced in the past two years or so. In this context, this real estate crowdfunding program had a lot of potential…
Taiwanese ETF in Vietnam net-withdraws US$95 million from HoSE so far this year
This net selling momentum hasn’t been limited to Fubon. Foreign investors in general have been net sellers in the Vietnamese market, of late. From the beginning of 2024 until June 17, foreign investors hadhave net sold US$1.7 billion worth of Vietnamese securities listed on HoSE…
The Impact of the Ukraine War on Vietnam’s Economy: Unpacked
The Ukraine War has not been kind to Vietnam’s economy. Tourism, trade, and foreign direct investment have all taken a direct hit, not to mention the indirect impacts of the greater global economic challenges the war has precipitated. With this in mind, and the President of Russia due to land in Hanoi later today, this article looks at how the Ukraine War has impacted Vietnam’s economy.
China’s Huawei considering Vietnam data centre but no commitment yet
Data centres in Vietnam are becoming more and more common. This is a result of a broader move to digitise the economy as well as several key regulations that require businesses to store the data of Vietnamese users in Vietnam. That said, there are a number of challenges for the sector, not least of which is Vietnam’s somewhat inconsistent electricity supply…
Top 10 life insurance firms in Vietnam dominated by foreign firms
Of note, Vietnam’s insurance sector has struggled over the last year or so with a number of high-profile instances of consumers claiming they were duped into purchasing insurance products.That said, it is slowly recovering with Vietnam Report’s survey results finding 45.5 percent of industry respondents expect the industry to grow by around 5 to 10 percent this year…
Key Apple supplier Foxconn to increase investment in Vietnam by US$52.6 million
Manufacturing in Vietnam, particularly in electronics, has been growing rapidly. Though notably there was a slight downturn last year, things have picked up again in 2024. Exports of computers, electrical products and parts thereof had reached US$5.5 billion by the end of May representing an increase of 31.6 percent over the same period a year earlier…
New Vietnam–Manila direct flights highlight growing south-south integration
This is welcome news for tourism in both countries. Of note, in the first five months of this year, Vietnam welcomed 85,936 tourists from the Philippines, an increase of 54.1 percent over the same period last year. This is in line with growing interregional travel which is visa free for members of ASEAN states. Filipino citizens, for example, can enter Vietnam visa free for up to three weeks. This latest announcement could signal a significant boost to these numbers…
Due date for made in Vietnam car excise tax payments pushed back to November
Special Consumption Tax is paid by the consumer at the point of purchase of the vehicle to the dealership who then holds on to those funds to pass on to the Tax Department when they fall due. By delaying these payments, this policy acts like a short term loan to these operations. This has been a popular means of supporting local enterprises over the past few years as the car market has struggled through a broader economic downturn…
Vietnam suspends priority customs treatment for Panasonic
Article 45 allows firms approved to receive priority customs treatment to submit incomplete documents when exporting or importing goods. These firms, however, must submit completed documentation within the following 30 days…
Quorum failure adds to woes of Vietnam securities firm hacked back in March
It’s not clear why it failed to make quorum nor when another annual general meeting might be scheduled. That said, it’s also not clear that this is necessarily a big problem, however, it does speak to a bad run for VNDirect which was shut down for a week by hackers back in March. This has seen its share price on a steady decline since falling from VND 21,278 on March 21 to just VND 17,500 as of today–a decline of just shy of 22 percent.
Vietnam banks sell gold online to relieve pressure on site, demand surges
This move, however, may have inadvertently facilitated a spike in demand giving people who don’t have the time to wait in queues at banks a more efficient means to buy the relatively cheap gold on offer. Of note, Agribank reported that at one point there were 50,000 attempts to register to buy gold at one time through its online portal…
Korean Soju to be made in Vietnam from 2026
HiteJinro Group will join a slew of other well-known beverage makers with factories in Vietnam including Heineken, Coca-Cola, and Pepsi. These firms stand to benefit from not only a rapidly growing consumer market in Vietnam but also a number of benefits that come with manufacturing in Vietnam including low-cost labour and tax incentives…
Marine spatial plan to be presented to Vietnam National Assembly this week
The marine spatial plan is set to be the cornerstone for the development of Vietnam’s coastline. It has, however, been a long time coming. Work began on the marine spatial plan in 2018 but is still ongoing with a broad range of stakeholders from a diverse range of industries–defence, oil and gas, fisheries, and tourism to name but a few. Not to mention the geopolitical implications related to carving out a swathe of the South China Sea or East Sea as it is known in Vietnam. With this in mind, it may be a while longer too…
Vietnam reservoir flood release indicative of reduced hydro, more coal power strategy?
This is interesting in that hydropower has been underutilised this year compared to last. Just 15 percent of Vietnam’s power came from hydro from January to April of this year, compared to 25 percent for the same period last year. At the same time it has been reported that about 64.6 percent of Vietnam’s electricity came from burning coal in April, whereas in 2023, on average, coal was responsible for just 46 percent of Vietnam’s electricity supply.
Vietnam PM suggests foreign workers for executive roles at state-owned enterprises
In the past the leaders of SOEs have always been members of the Communist Party of Vietnam which has significantly reduced the talent pool from which to draw–there are currently only a little over 5 million members of the party or around 5 percent of the population. This also leaves these positions open to being filled through political jostling and networking often connected to seniority and an individual’s position within the party more broadly, rather than merit and qualifications…
China’s BYD Vietnam market entry conspicuously coincides with EU, US EV import tariffs
This is in the context of antidumping tariffs on electric vehicles in the US and EU which may see China look for alternative markets for their vehicles. With a reasonably big population and rapidly rising incomes, not to mention being just a stone’s throw away, Vietnam is a prime choice…
Three Vietnam internet cables reported down days before possible Putin visit
This could not have come at a worse time. Not only is the National Assembly currently in session but there have been reports the Russian president, Vladimir Putin could be in Hanoi as soon as Wednesday. With the eyes of foreign governments and international media likely to fall on Hanoi in the event the Russian leader does make his way to Vietnam, demand for information out of the country is likely to be high.
In today’s Vietnam news: Facebook account theft ring shut down, Minimum wage to rise from Jan 1, Nuclear power project reorganisation proposed, No jail
In today’s Vietnam news: Research prosecution exemption, Fuel retailer losses, Semiconductor degree requirements, Eurocham BCI, Government bond auction Wednesday, Australia tourist visa problems, Coffee
In today’s Vietnam news: Accor-Sun Group agreement, US largest ethanol supplier, Demographic dividend to end 3 years early, Maritime economy development, ACV looking to
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