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.
This Bloomberg opinion column that asserts Vietnam is becoming another province of China
Worth a read simply for the title, this Bloomberg opinion column essentially discusses the integration of the economies of southern China and northern Vietnam as Chinese firms look to circumvent US trade barriers. Specifically, she cites the infrastructure connection between the border, key manufacturing hubs in the north, and the
Impacts of Vietnam’s US dollar intervention on trade with Japan, Korea
The Japanese yen and the South Korean won are depreciating against the US dollar and subsequently are also depreciating against the Vietnamese dong, Tuoi Tre has reported. This is on the back of Vietnam trying to keep its currency from devaluing by issuing treasury bills and spending its foreign currency
UOB says Fed rate cut will see dong appreciate by year-end
Singpore’s United Overseas Bank–or UOB–has said that it expects the dong to appreciate between now and the end of the year, The Investor is reporting. This is reflected in UOB’s Quarterly Global Outlook 2Q24 which suggests that a recovery in China will likely strengthen the local currency as well as
Vietnam’s collective decision-making weighs on offshore wind power development
The Ministry of Industry and Trade–the MoIT–has said it is unlikely that Vietnam will meet its offshore wind power target of six gigawatts by 2030, The Leader is reporting. Essentially, the MoIT is acknowledging that with all of the various departments and ministries that need to coordinate to make offshore
State Bank of Vietnam cancels another gold auction
The State Bank has cancelled another gold auction due to a lack of interest, Vietnam News is reporting. Gold auctions were floated as one way to reduce the price of gold in Vietnam, however, thus far there have only been two successful buyers with the price set by the State
Vietnam News Roundup: April 26 to May 2
Banking and finance news State Bank considering reduced reserve requirements for buyers of distressed banks The State Bank of Vietnam–the SBV–has floated the idea of allowing financial institutions that take over distressed banks under the SBV’s ‘special supervision’ to benefit from reduced reserve requirements, Vietnam News is reporting. This comes
Vietnam’s PMI improved but only marginally
S&P Global’s Purchasing Managers Index or PMI has found that Vietnam’s manufacturing sector grew in April but only slightly, per a press release from the firm. The key manufacturing index registered 50.3 up from 49.9 in March. The survey also found that: The jump in the index was fueled by
Vietnam bank deposits have started to fall
Vietnamese are depositing less money in bank accounts in search of higher returns elsewhere and this is putting pressure on banks to raise deposit interest rates, VN Express is reporting. Notably, concerns have also been raised that this may put upward pressure on lending interest rates which could be problematic
New registered FDI in Vietnam reaches US$9.27 billion
Vietnam’s General Statistics Office has released its Report on the Socio-Economic Situation in April and the First Four Months of 2024 in which it says new foreign direct investment commitments have reached US$9.27 billion, an increase of 4.5 percent over the first four months of last year. Furthermore, it states
Consumer price index gains 4.33 percent year-on-year
Vietnam’s General Statistics Office has released its consumer price index data from April finding a 4.33 percent increase compared to April of last year. The biggest increases were in education, other goods and services, and housing and construction materials. Vietnam’s Consumer Price Index summary, April 2024 M-O-M Y-O-Y Food and
Vietnam’s industrial production index registers a 6 percent increase
Vietnam’s General Statistics Office has released industrial production data from January to April finding a 6 percent increase over the same period last year. Of the four categories the GSO tracks, ‘production and distribution of electricity, gas, hot water, steam and air conditioning’ recorded the biggest increase of 12.3 percent.
The Dong’s Wild Ride: Unpacked
The day that Russia invaded Ukraine, on February 24, 2022, the Vietnamese dong was trading at 22,843 dong to one US dollar–it had barely moved since the start of the year. This was in line with much of the past decade in which the local currency had only depreciated marginally,
New report on tech startups in Vietnam finds funding dives in 2023
Funding in startups in Vietnam was down 17 percent to US$529 million last year according to a report by Dove Ventures. The big winners were healthcare and education startups which recorded increases of 391 percent and 107 percent respectively.
Bank of America expects dong to slide another 1 percent in 2024
The Bank of America is expecting the Vietnamese dong to slide by another 1 percent by the end of the year, CNBC is reporting. According to the publication, the BofA made the assessment based on “Vietnam’s political instability following the second presidential resignation in two years as well as difficulty
This forecast from VinaCapital’s chief economist
Vinacapital has released an ‘Economist’s Note’ detailing challenges facing Vietnam’s gold market and exchange rate. It identifies the two key issues facing the dong as the stronger US dollar and the high local gold price. On the latter, it says this is increasing gold smuggling which is increasing demand for
Vietnam solar project struggles after project approval breaches
A power generator in Southern Vietnam has reported that key infrastructure projects it is working on are at risk of being delayed as a result of the state power provider, EVN, failing to pay for the power it has provided, VN Express is reporting. The problem appears to have been
Novaland lost VND 462 billion because of the exchange rate?
Embattled Vietnamese real estate developer, Novaland, has reported a first quarter loss of VND 601 billion or US$23.7 million, VN Express has reported. Of note, earlier this year Novaland reported an after tax profit on its unaudited financials statements of 685 billion or US$27 million, however, after being audited it
Rate cuts in Vietnam likely: Fitch Solutions
Fitch Solutions has said it is expecting a cut to interest rates in Vietnam this year, according to an article published on its website. It reaches this conclusion based on the belief that the 6 to 6.5 percent target for GDP growth for the year is unlikely and that inflation
Vietnam remains on US intellectual property infringement watchlist in 2024
The Office of the United States Trade Representative has released its annual 401 Report which assesses intellectual property protections around the world. Vietnam has maintained its position on the body’s watchlist with a lack of prosecutions and weak law enforcement, the report says.
Chairman of Vietnam’s National Assembly resigns
Vuong Dinh Hue, the Chairman of the National Assembly has resigned after barely two years at the post, VN Express is reporting. The reasons put forward are vague, as they often are, however, it is likely connected with the arrest of his assistant, Pham Thai Ha, on charges of ‘abusing
In today’s Vietnam news: MB Bank expanding lending to Novaland, MB Bank Sungroup lending, Bond reform proposed, Net-zero financing needs, Fuel price changes, Black
In today’s Vietnam news: Foxconn expansion, No GMT for BOT projects proposed, Land prices falling, Cassava chip export restrictions proposed, Diamond trade as conditional
In today’s Vietnam news: VAT cut extension proposal, FDI recorded Jan – July, Bamboo Airways adds flights, Carbon market stalls, HCMC data centre capacity,
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