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.
No one wants the State Bank of Vietnam’s gold
In an odd turn of events, a gold auction slated for yesterday was cancelled due to a lack of interest and a second, today, had just two bidders that bought a collective 3,400 taels of gold of the 16,400 on offer, VN Express is reporting. This is after gold auctions
Insolvency in Vietnam: Unpacked
This article charts the path unprofitable firms tend to follow in Vietnam and what creditors might expect before bankruptcy proceedings are initiated on a debtor, if they are in fact, initiated at all.
New KRX trading system to go into action on Vietnam stock exchange from May 2
The Ho Chi Minh City Stock Exchange has said that the KRX trading system, imported from South Korea, will go live after the long weekend on May 2, Tuoi Tre is reporting. It was, however, slated to launch in 2015 but has been repeatedly delayed. Most recently, it was supposed
Vietnam’s bank debt restructuring circular extended
The State Bank of Vietnam–the SBV–has extended the duration of Circular 02/2023/TT-NHNN which gives banks the ability to restructure a customer’s debts without reclassifying the risk level of said debt, The Saigon Times is reporting. This circular was first introduced last year to battle blowouts of debt that came about
Credit growth in Vietnam jumps 1.08 percent in just four days
Vietnam’s credit growth hit 1.34 percent by March 29 up from .26 percent on March 25–just four days earlier–, The Investors is reporting. It is not clear where this money went but relatively speaking this is a big change in a very short amount of time. Notably, January and February
State Bank of Vietnam to kick off gold auctions with 630 kilos of gold
In its first gold auction since 2013 the State Bank of Vietnam is set to make available about 630 kilograms of gold for banks and financial firms to bid on, VN Express is reporting. The online publication is also saying that the SBV intends to import more gold to fill
More fines in Vietnam over ads on videos featuring the nine-dash line
Vietnam’s Ministry of Information and Communication–the MIC–has fined an advertising firm just over US$2,000 for showing advertisements on videos on YouTube that contained the nine-dash line, VN Express has reported. This was the fourth fine since the start of last year for WPP Communications Company Limited–also known as GroupM. According
Vietnam has started dipping into its US dollar reserves to prop up dong
The State Bank of Vietnam–the SBV–has begun spending US dollars in its foreign reserves to prevent the dong from sliding further against the US dollar Bloomberg is reporting. This follows on from a series of treasury bill issuances over the last month or so that have done very little to
Vietnam News Roundup: April 12 to April 18
Banking and finance news State Bank has pumped US$24 billion into SCB to keep it afloat The State Bank of Vietnam–the SBV–has pumped about US$24 billion into Saigon Commercial Bank–or SCB–to keep it afloat, Reuters is reporting. SCB was at the centre of a fraud scandal worth upwards of US$12
Vietnam’s GDP projected to reach 5.8 percent this year: IMF
The International Monetary Fund has released its World Economic Outlook April 2024 which estimates Vietnam’s GDP growth for this year to be 5.8 percent. The IMF also bumped Vietnam up from its Low-Income Developing Countries group and added it to its Emerging Market and Middle-Income Economies group.
Gold auctions in Vietnam to reduce exchange rate pressure?
There is this emerging argument that the pressure on the exchange rate is partly caused by gold smuggling, for example, this article from Doanh Nhan Vietnam. The theory is that people are buying up US dollars to buy gold overseas and then smuggling it in. That may be the case,
EVN reluctant to sign on to long-term LNG power purchase agreements
EVN has made a power purchase agreement with a new LNG power plant set to come online in the near future, however, EVN has been reluctant to commit to a consumption volume. The issue was the consumption rate, VN Express is reporting. The project operators wanted EVN to commit to
The State Bank is both buying and selling treasuries at the same time
On Wednesday the State Bank of Vietnam both bought VND 5,671.97 worth of treasuries from five local banks and sold another VND 5,500 billion to five Vietnamese banks. It’s not clear what the thinking is behind this but as far as keeping the exchange rate where it is, these two
Vietnam EV maker North Carolina factory delayed
Vinfast’s planned North Carolina factory has been delayed pending approval of plans for a much smaller factory, The News Observer is reporting. The car marker has not been as successful as it had hoped, hence the smaller factory. It has, however, continued to maintain that the factory will be online
Vietnam’s Vinfast first quarter results show little improvement
Vietnam’s Vinfast has continued to haemorrhage money, reporting a loss in the first quarter of 2024 of US$618.3 million, according to a filing with the US Securities and Exchange Commission. Key takeaways It delivered 9,689 EVs; This was down from 13,513 in the fourth quarter of 2024; with 50 percent
Talking about speeding up the implementation of Vietnam’s revised Land Law
Vietnam’s revised Law on Land was slated to come into force on January 1, 2025, however, key decision makers are pushing for the National Assembly to move the start date up to as soon as July 1 of this year, Zing News is reporting. This looks to be in an
MoIT flips again on payments for excess rooftop solar in Vietnam
Once again the MoIT is saying there will be no feed-in tariffs for rooftop solar, according to The Investor. Last week it was announced that the MoIT was considering a time-based feed-in tariff for rooftop solar, however, this week the ministry is saying that’s not the case.
State Bank has pumped US$24 billions into SCB
The State Bank of Vietnam–the SBV–has pumped about US$24 billion into Saigon Commercial Bank–or SCB–to keep it afloat, Reuters is reporting. SCB was at the centre of a fraud scandal worth upwards of US$12 billion. The mastermind of the fraud, Truong My Lan, has since been convicted and given a
State Bank intends to start importing gold?
It was reported earlier this week that the State Bank of Vietnam–the SBV–intends to reinstate gold auctions, however, local media did not report where the gold was set to come from. Today VN Express reported that the SBV has asked the Ministry of Finance to smooth-out the process for importing
Direct power purchases in Vietnam draw closer with draft decree released
A draft decree that, if passed, would finally provide a legal framework for direct power purchase agreements–or DPPAs–is being circulated, according to VN Express. It outlines DPPAs that can use either EVN’s power infrastructure or build their own infrastructure.
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