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.
Banking data breaches behind majority of financial fraud in Vietnam
A total of 15,900 cases of financial fraud have been reported this year with 91 percent related to data breaches at banks in Vietnam, VN Express is reporting. Why it matters: The recently passed Personal Data Protection Decree requires foreign firms to store the data of Vietnamese users in Vietnam.
TikTok investigation update reveals only four of nine conditions met
The results of an inspection into TikTok earlier this year by Vietnam’s Ministry of Communications (MIC) listed nine points that the company needed to address in order to be compliant with Vietnamese regulations but it has only complied with four so far, Saigon News is reporting. Those four are: strengthening
Vietnam Airlines to follow Vietjet and fly direct to Perth
Vietnam Airlines has announced it will fly direct to Perth, Australia, from Ho Chi Minh City three times a week, VN Express is reporting. The airline intends to extend the flight frequency to five flights a week by 2024. In September 2021, Vietnam’s Bamboo Airways began operating direct flights from
VN-Index up 2.85 (0.26 percent) to close at 1,124.44, December 8
The VN-Index has finished the week in positive territory, up 2.85 points or .26 percent, to finish the day at 1,124.44. Foreign traders, however, continued to net-sell to the tune of another US$18.5 million bringing their combined total for the week to just over US$163 million. Notably, there are limits
Taiwan firm starts work on machine factory north of Hanoi
Taiwan’s Lioho Machine Works has started building a factory in Vinh Phuc north-west of Hanoi, The Investor is reporting. The project is reportedly worth US$75 million and is set to cover five hectares. When complete it will produce car parts, farm equipment, and pumps.
Hong Kong camera manufacturer considering factory in north-central Vietnam
Hong Kong based Qtech is considering building a US$430 million factory in Vietnam’s Nghe An province, The Investor is reporting. If realised it would cover 10 to 15 hectares and produce eight million products a month. Notably the company is looking for tax, human resources, and administrative support from Nghe
Singapore developer drops US$562 million on southern Vietnam real estate project
Singapore’s CapitaLand has acquired an 18.9 hectare real estate project in Vietnam’s Binh Duong province for over half a billion dollars, The Investor is reporting. The project, when realised, is expected to house 12,500 people in 3,300 houses and 462 villas.
Resolution 98 could see sports complex in Ho Chi Minh City finished after 30 years
Resolution 98, which was passed by Vietnam’s National Assembly in June and gives HCMC greater power over the collection and disbursement of taxes, may be a game changer with respect to the Rach Chiec National Sports Complex in HCMC, which was started in 1994, but is still unfinished, Tuoi Tre
Vietnam PM calls on banks to be more flexible when issuing loans
A quote has appeared on a government website attributed to Vietnam’s Prime Minister that reads “We do not lower lending standards, but can we be more flexible?” according to Bloomberg. This is in line with an approach from the government heavily weighted toward encouraging banks to lend more rather than
VN-Index down 4.94 (0.44 percent) to close at 1,121.49, December 7
The VN-Index has finished the day down 4.94 points or .44 percent to close at 1,121. 49 points. Foreign traders, however, continued to exit the market taking a net US$33.6 million out of the local bourse. Foreign investor trading activity on the HoSE, December 7 Buy Sell Change Date VND*
Vietnam wind power project up for grabs in mortgagee auction
Vietnam’s Agribank is auctioning off the Phong Dien 1 wind power plant with a starting price of VND1,205 billion (US$49.6 million) after the firm behind the project Vietnam Renewable Energy Engineering (VREE) failed to meet its debt obligations , The Investor is reporting. Background: Wind power producers were offered very
Japan to process scallops in Vietnam after China bans seafood imports
Japanese scallop producers are considering shifting their processing operations from China to Vietnam after China banned the import of Japanese seafood over the release of treated water from the Fukushima nuclear power plant, The Japan News is reporting. An estimated 30,000 to 40,000 tons of scallops from Japan were processed
European insurance firm predicts Vietnam top-up tax to have minimal impact on FDI
Vietnam’s recently passed top-up tax, a response to the Global Minimum Tax, should not impact how attractive Vietnam is to foreign firms, according to Raphaël Cecchi, an analyst with European credit insurer, Credendo. It may, however, “slightly hit Vietnam’s reputation” as a low-tax jurisdiction for foreign firms, he says. He
Chinese president rumoured to be headed to Vietnam next week
The Chinese President, Xi Jinping, could be in Hanoi next week for two days, Bloomberg is reporting. This has been on the cards for sometime and likely a response to a visit from the President of the United States to the Vietnamese capital in September. Politically tied to China, economically
VN-Index up 10.46 points to close at 1,126.43, December 6
The HoSE closed up 10.46 points or .94 percent Wednesday, finishing the day at 1,126.43 reversing yesterday’s fall. Foreign traders continued to net-sell pulling US$22.5 million from the market. Foreign trader activity on the HoSE, December 6 Buy Sell Change Date VND* US$ VND* US$ VND* US$ 30/11 1,184 $48,766,474
Zing News is back online rebranded as Z News
Popular news website Zing News is back online but has been rebranded Z News. The publication was forced to suspend operations for three months after it ran afoul of Vietnam’s censors. Specific details as to what it did wrong were not made public, however, there was some speculation that it
Japanese firms enter affordable housing market in Vietnam
Two Japanese firms, Cosmos Initia and Koterasu, have partnered-up with Vietnamese firm TTCapital Investment, to build affordable housing in Vietnam, Tuoi Tre is reporting. This is of interest in that the demand for affordable housing far outstrips demand for mid-level apartments, yet most development and investment has been focused on
Car sales decline sees budget revenues slashed in northern Vietnam province
Last year, Vietnam’s Quang Nam province recorded tax revenue of VND 31,781 billion (US$1.3 billion), however, this year it is expected to record tax revenue of just VND 23,951 (US$986 million), Tuoi Tre is reporting. This has been attributed to a substantially reduced contribution from automaker Truong Hai Group, which
Vietnam coffee exports to fall on smaller crops, higher local demand
Vietnamese farmers are cutting down coffee plants and growing durians and avocados instead, and this, alongside growing local demand for coffee, may see Vietnam’s coffee exports decline, according to Ha Nam, deputy chairman of the Vietnam Coffee Cocoa Association, Bloomberg is reporting. See also: Snapshot: Vietnam’s Coffee Industry, October 2023
Vietnamese eager to sell goods immediately agreeing to sub-par trade terms
Vietnamese firms are at ‘high risk of scams and disputes’ but lack the knowledge necessary to successfully engage commercial dispute resolution mechanisms, Vietnam News is reporting. The article references Vu Chien Thang, Trade Counsellor of Vietnam in Spain, who essentially says Vietnamese firms are being scammed because they are looking
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