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.
State media laments struggling Vietnamese films days after censors ban ‘gloomy’ local film
This comes just days after it was reported that the locally produced film Viet and Nam, which is headed for the Cannes Film Festival, was banned from distribution by the Department of Cinema because of its ‘gloomy’ depiction of Vietnam.
State Bank sells US$400 million of forex reserves on Wednesday: ACB
Research from WiGroup last week estimated Vietnam’s reserves to be only about US$90 billion. That being the case, with the IMF recommending enough foreign currency on hand to cover three months worth of imports, and imports reaching just shy of US$30 billion in April, these reserves are dangerously low.
Vietnam’s C.Bank manages to move 8,100 taels of gold at latest gold auction
This latest development is a vast improvement with a series of past gold auctions selling only a few thousand gold bars or being cancelled altogether due to lack of interest. The change of circumstances is likely due to changes to this gold auction that saw the minimum order significantly reduced.
Updated power pricing regulations in Vietnam officially kick-in today
Of note, in 2022 EVN reported a loss of US$1.5 billion with rises in fuel costs vastly outstripping the electricity retail price which is regulated. That said, Decision 24 issued back in 2017, the precursor to Decision 5, already had provisions for the electricity price to be adjusted annually, however, between 2019 and November 2023 no adjustment was made. It’s not clear why and in this context the frequency at which power prices are reviewed may not have been the crux of the problem.
Vietnam real estate market expecting boost from new Land Law
This may, however, be wishful thinking. It is already quite common for overseas Vietnamese to invest in real estate in Vietnam. Generally, if overseas Vietnamese cannot acquire property in their own name they will do so through a family member still living in the country. In this context, it’s not clear that when the new law comes into effect this part of it will make all that much of a difference.
Japanese investor reports big losses from Vietnam’s Nghi Son refinery
A Japanese investor in Vietnam’s Nghi Son refinery, Idemitsu, has said that it has booked a US$263 million provision for bad debt generated by the refinery in the financial year ended March 31. This is reportedly due to increased costs on the back of rising US interest rates. There is,
Vietnam creative industries dealt another blow with Cannes-slated movie banned
A Vietnamese film headed for Cannes has been denied a distribution licence by Vietnam’s Ministry of Communications on the grounds that it shows ‘a gloomy, deadlocked, and negative view’ of Vietnam, according to Screen Daily. This is another blow to Vietnam’s creative industries which are widely seen as underdeveloped, yet
Vietanm customs data for April sees export growth, trade surplus slip
Vietnam customs data released last week shows a slight downturn in exports in April, losing 7.7 percent over March. That said, exports were still up over the first four months of the year by 15.1 percent compared to 2023. Imports were also down 2.9 percent in April over March but
Vietnam’s Rare Earth Partnership Contenders: Unpacked
For a brief month or two last year, Vietnam’s rare earth reserves were a hot commodity (pun intended). This was on the back of a whirlwind visit to Hanoi by the President of the United States, Joseph Biden, during which he announced the US would support Vietnam with mapping its
Samsung to increase investment in Vietnam
Samsung has said it intends to invest an additional US$1 billion a year in its operations in Vietnam. This will add to the US$22.4 billion already invested in the country by Samsung. The arrival of Samsung back in 2008 heralded a significant shift in the manufacturing sector with the South
World Poker Tour event in Vietnam scrapped on permitting failure
A World Poker Tour event scheduled to be held in Hanoi has been cancelled amid reports organisers failed to acquire the necessary permits. Local media outlet, Dan Tri has said the Hanoi Department of Culture and Information and the police have been asked to review the event including if the
Vietnam’s gold auction rules change but still not a great investment
The State Bank of Vietnam is still trying to auction off gold to bring down the gold price, despite several failed auctions amid an overheated gold market. This latest gold auction has 16,800 taels of gold up for grabs in lots of 500 taels down from 700 in past auctions,
Vietnam’s second biggest real estate developer under investigation
Vietnam’s Novaland, the country’s second biggest real estate developer, is currently being investigated by the Ho Chi Minh City Police department. The department has reportedly request documents pertaining to Aqua City, a real estate development in southern Vietnam’s Dong Nai province. As a result, Novalands share value plummeted by about
Fact check: Do 21 percent of Vietnamese really own crypto?
A report compiled by Triple-A, a Sinagpore based digital currencies payment provider, has suggested that 21.2 percent of Vietnamese own crypto currencies. This has been widely reported in the media both abroad and in Vietnam, however, this seems far fetched–about 44 percent of Vietnamese are unbanked and just 6 percent
Cutting the 48 hour work week back in the news in Vietnam
Overtures have been made by the Vietnam General Confederation of Labour–the VGLC–to the Ministry of Labor, War Invalids and Social Affairs to reduce standard working hours below the current 48 hours a week. This was announced back in January, however, in recent weeks the idea has gained traction with local
Real estate credit growth figures show Vietnam’s housing sector still struggling
At the end of February credit issued to Vietnam’s real estate sector had increased by about US$813.2 million, however, the residential sector recorded a credit contraction of US$78.6 million. Outstanding loans for off-the-plan houses also fell by US$648.3 million. Conversely, gains were made in industrial parks and export processing zones,
Reports workers are resigning in anticipation of changes to social security
Worker retention has become a problem at some firms in Vietnam due to pending changes to the ability to access social insurance before retirement. Currently, workers can choose to take a one-time payout if they are out of work for more than a year. There have, however, been reports that
US dollar still at 25,450 dong level, more FX reserves needed
US dollars were being sold for 25,484 Vietnamese dong Sunday at some banks. This is above the 25,450 mark at which the State Bank of Vietnam has intervened by spending foreign currency reserves in the past. On the black market, US dollars were even higher selling for 25,800 a piece.
State Bank to audit income, assets of 58 bank workers selected at random
The State Bank of Vietnam has selected 58 workers in the banking industry through a random lottery that will be audited as part of moves to clamp down on corruption in Vietnam’s central bank. The bank will review the employees’ income and assets to make sure that they are not
South Korean firm breaks ground on bioplastics plant in Hai Phong
SKC Limited, a part of South Korea’s SK Group, has broken ground on a bioplastics plant in northern Vietnam’s Hai Phong province in line with increasing plastics production among foreign firms in Vietnam. The plant will produce an estimated 70,000 tons of biodegradable plastics a year starting from the second
In today’s news: Challenges to 10 percent growth target, Proposed rare earth export ban eased, Vietnam records US$122 billion in crypto activity, Norway shipbuilder
In today’s news: Credit rating improvement target, Vinhomes Pomina Steel loans, Meat imports, Nghi Son refinery performance, Trade returns to surplus, Credit growth numbers,
In today’s news: SBV raises loan-to-deposit cap, Fuel tax cut extension, Denmark jewellery factory opens, Taiwan cooling system manufacturer expansion, SK firm gas power
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