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 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.
Vietnam considering a monthly connection fee for electricity
The state power provider EVN wants to charge a subscription fee on top of metered electricity prices to cover the additional infrastructure costs for some customers, VN Express is reporting. Essentially, the power price is currently calculated on the volume of electricity used and by tiers–the more you use the
Relationship between foreign, Vietnam firms akin to boxing match: Economist
It’s unusual to have commentary in the local media whereby a Vietnamese expert tells it straight up. This article in The Leader, however, covers comments by Associate Professor, Tran Dinh Thien, former Director of the Vietnam Institute of Economics, where he does just that. Specifically, he points out that local
Mixed feelings on Vietnam applying trade remedies on Chinese steel imports
Vietnam’s Hoa Phat Steel is pushing for an anti-dumping investigation into steel imports from China arguing that they are taking up too much of the market and citing the US restrictions on steel imports on the grounds of national security, The Investor is reporting. Hoa Phat is also being supported
HCMC gold stores take holidays amid pending inspection of operations
A number of gold stores in Ho Chi Minh City have announced long holiday closures just after it was announced that the HCMC General Department of Market Management would be auditing the operations of gold stores in the city, Tuoi Tre is reporting. The publication says the city intends to
State Bank of Vietnam to start auctioning gold
The State Bank of Vietnam intends to undertake a series of gold auctions in an attempt to bring down the price of gold, Tuoi Tre is reporting. The gold price in Vietnam is currently trading at a 13 percent premium to the world gold price. This will be the first
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