Other Briefings
Samsung to Aid Vietnam in the Creation of Domestic Support Industries
The South Korean electronics group Samsung has agreed to cooperate with the Vietnamese government in order to help develop the country’s domestic support industries.
Rising Costs in China’s Pearl River Delta Causing Manufacturers to Look to Vietnam
China’s Pearl River Delta (PRD), long known as one of the key factory centers for the world’s manufacturers (particularly those from Hong Kong) has now become too costly for many companies to stay in the region.
Foreign Firms Dominate Vietnam’s Advertising Market
Foreign advertising companies have taken control of the Vietnamese market, reaping millions of dollars in revenue every year. According to statistics, over 90 percent of advertising revenue in Vietnam is now in the hands of foreign advertising firms.
Vietnam Rubber Surplus Hurts Producers, Helps Tire Industry
In an effort to help Vietnamese companies compete in the world market, the Ministry of Finance is considering cutting the rubber export tax to zero from the current rate of one percent.
Rising Ginger Prices in Vietnam Excite Farmers, Hurt Consumers
The price of ginger is expected to hit record-highs this year, according to the head of Ho Chi Minh City’s Farmers Association branch in Binh Chanh District. The price of ginger has risen from VND40,000 (US$1.87) in February to its current price of VND80,000 (US$ 3.75) per kilo.
Samsung to Build US$1 Billion Plant in Vietnam
On July 2, Bac Ninh province granted an investment license to Samsung Display Co. Ltd for its US$1 billion project in the Yen Phong Industrial Park. This investment comes on the back of multiple large scale investments by the South Korean tech giant.
Japan and Vietnam to Grow Agricultural Development Cooperation
On June 26, Japan and Vietnam held their first high-level dialogue on agricultural development cooperation in Hanoi. Present at the meeting were the President of Vietnam, Truong Tan Sang, and the Japanese Agriculture, Forestry and Fisheries Minister, Yoshimasa Hayashi. The dialogue called for developing a medium-to-long-term vision for agricultural sector cooperation between the two countries.
Vietnam Airlines IPO to Finally Go Ahead
After more than two years of bureaucratic struggles, perennial no show on the IPO circuit, Vietnam Airlines, is rumored to finally be months away from beginning its equitization process. The IPO comes along as part of the Vietnamese government’s efforts to restructure the economy and attract more foreign investors.
Vietnam’s Retail Banks Seek to Entice New Customers
For years, the main source of income for banks in Vietnam has come from lending to businesses, but increasingly many banks are making a large proportion of their revenues off of the retail banking sector. This is spurring a wave of innovation throughout this sector as banks seek to entice new customers.
Coffee Prices Decline in Response to Record Vietnam Crop, Weather Issues
Vietnam’s next coffee bean harvest is predicted to produce record amounts. However, this news has been met with dispiriting results in the market – robusta coffee futures for July have slumped 3.9 percent to US$1,907 a ton in London, a three-month closing low, on the news. Coffee prices are expected to dip lower as a result.
