Luxury brand reps nearly triple Vietnam profits
Vietnam’s distributors of luxury brands such as Louis Vuitton, Chanel, Dior and Hermes posted VND3.8 trillion ($156.57 million) in 2022 profits, up 270% year-on-year, according to latest data from a market research company.
Pacts signed by Vietnam, China during Xi’s Hanoi trip
Vietnam and China signed a 16-page joint declaration and 36 co-operation documents in areas such as infrastructure, trade and security, during a visit to Hanoi by Chinese President Xi Jinping.
Vietnam eyes $200B bilateral trade with US
Vietnamese and U.S. businesses should increase partnership to bring the two countries’ trade value to a new record of $200 billion, Vietnamese Deputy Prime Minister Tran Luu Quang said Tuesday.
Can Vietnam become the next Asian tiger ?
Amid the COVID-19 pandemic and rising US–China trade tensions, Vietnam leapfrogged South Korea to become the United States’ sixth largest trade partner by import value in 2022. This jump represents an important pivot in Vietnam’s economy — Vietnam’s biggest export to the…
Dutch Prime Minister Mark Rutte to visit Vietnam next week
Prime Minister of the Netherlands Mark Rutte and his entourage including hi-tech entrepreneurs will visit Vietnam from November 1 to 2 to further promote comprehensive cooperation, the Vietnamese Ministry of Foreign Affairs announced on Friday.
Saigon street venders, authorities battle for sanctified ground
As Le Thi Chi, 41, set up her coconut malt stall on the sidewalk, she asked an adjacent noodle stall security guard if “officers” had been “coming by” lately.
Vietnam loses US$350 million due to copyright infringement
Around 80 per cent of violations take place on digital platforms with the most violated content including TV shows, movies, music and books.
Biden heads to Vietnam in latest attempt to draw one of China’s neighbors closer to the US
President Joe Biden will arrive at Chinese leader Xi Jinping’s doorstep on Sunday with a deal in hand to draw yet another one of China’s neighbors closer to the United States.
Why Hanoi may agree to a Vietnam-U.S. comprehensive strategic partnership
If Hanoi agrees to a comprehensive strategic partnership with the U.S., it would represent a remarkable breakthrough in bilateral ties. Still, such a partnership would not represent a significant shift in Hanoi’s foreign policy.
Vietnam signs free trade agreement with Israel
Vietnam has become the first Southeast Asian country to sign a free trade agreement (FTA) with Israel, which will remove duties on at least 86% of Vietnamese products.
South China Sea : why China’s business interests in Vietnam are at stake amid nine-dash line controversies
Controversies over Beijing’s nine-dash line claim in the South China Sea highlight how geopolitical tensions can challenge international businesses. Although the economic implications may be minimal presently, businesses should be mindful of potential risks posed by the issue in the…
Shopping malls lure tenants as street-front houses remain unoccupied
Retail spaces in HCMC’s shopping centers have mostly been filled in Q1 while street-front houses continue to stay empty, according to industry insiders.
Pay cuts, layoffs continue as businesses wait on economic recovery
Many businesses are cutting salaries and letting go of employees while waiting for the economy to turn the corner.
Vietnam may resist diplomatic upgrade with Washington as U.S.-China tensions simmer
A push by the United States to upgrade ties with Vietnam this year is facing resistance in Hanoi, over what experts say are concerns that China could see the move as hostile at a time of tension between superpowers Beijing…
US companies including Netflix and Boeing join ‘biggest’ business mission to Vietnam
Dozens of American companies are in Vietnam this week in hopes of pushing further into the fast-growing Southeast Asian economy, which has emerged as an attractive potential alternative to China as companies seek to diversify their markets and supply chains.
EuroCham Vietnam has new chairman
Gabor Fluit, Director of De Heus Asia, has been elected Chairman of the European Chamber of Commerce (EuroCham) in Vietnam.
Foreign businesses want work permit procedures simplified
Representatives of South Korean, European and American businesses in Vietnam are complaining that they’re struggling to obtain work permits for their foreign employees due to inconsistent and vague regulations.
Chinese suppliers race to Vietnam as COVID let-up opens escape route from Sino-U.S. trade war
Vietnam has enjoyed a wave of investment from China since its neighbour abruptly canned its strict virus-containment strategy and unleashed pent-up interest from companies – and their suppliers – fleeing the impact of Sino-U.S. trade friction.
Business implications of president’s ouster in Vietnam
What happened ? Vietnamese President Nguyen Xuan Phuc resigned from his government and party positions on 17 January 2023. This ostensible reason was to take responsibility for corruption by senior officials under his watch as prime minister (2016-2021).
AmCham Vietnam has new chairman
The American Chamber of Commerce in Vietnam said Wednesday that Greg Testerman, CEO of banking advisory firm Gregory Advisory, has been elected its chairman.
Vietnam, Germany ink defense, energy, vocational training cooperation pacts
Vietnam and Germany have signed three cooperation agreements in defense, energy and vocational training during the visit of German Chancellor Olaf Scholz.
Vietnam coming for China’s electronics supply chain
Vietnam poised to win from next phase of China decoupling but there is no time to waste in upskilling its labor force
Vietnam’s anti-graft campaign casts shadow over economy
High-profile detention triggers bank run at Saigon Joint Stock Commercial Bank.
PM Chinh urges China to buy more from Vietnam
Prime Minister Pham Minh Chinh has called on China to create policies that ease entry for Vietnamese goods, especially agriculture produce.
Grab rival Be Group gets $60 million loan for Vietnam expansion
Be Group seeks to challenge Grab’s dominance in Vietnam: CEO. Be’s app has been installed on over 20 million mobile devices.
Starbucks closes third Vietnam outlet
Starbucks Vietnam will close its Hanoi outlet after eight years, following the closure of two locations in Vietnam last year.