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Tag: Vietnams

  • Vietnam’s Seafood Exports Soar 13% in January Fueled by Asian Markets

    Vietnam’s Seafood Exports Soar 13% in January Fueled by Asian Markets

    In January, exports of seafood from Vietnam totaled US$874 million, a year-on-year increase of 13%. The Vietnam Association of Seafood Exporters and Producers noted that this boost was largely due to demand from Asian markets, particularly China, Japan, and ASEAN. Key product groups like pangasius, a type of catfish, as well as squid and octopus, contributed significantly to these robust export figures.

    Decline in U.S. Shipments

    However, U.S. shipments experienced a decline, especially in tuna exports. The downturn was attributed to factors such as the Marine Mammal Protection Act’s impact and difficulties in obtaining certificates of analysis for seafood exports, a crucial step in the export process.

    China Leads as Largest Seafood Market

    China solidified its position as Vietnam’s biggest seafood market in January; export values reached nearly $250 million, marking a 28.7% surge year-on-year. This uptick is mainly due to increased shrimp demand ahead of the Lunar New Year, a period when the consumption of premium seafood products usually escalates. Many businesses also seized the opportunity of this festive demand to increase their lobster shipments.

    Anticipated Seafood Export Downturn in February

    The Association anticipates a downturn in seafood exports in February. This prediction is based on disruptions to production and logistics during the Tet (Lunar New Year) holiday, persisting regulatory issues in the U.S., and a potential decrease in Chinese demand following an early period of stockpiling.

    Questions & Answers

    What caused the 13% increase in Vietnam’s seafood exports in January?
    The main factors contributing to this increase were robust demand from Asian markets, particularly China, Japan, and ASEAN, coupled with strong performance from key product groups like pangasius and squid and octopus.

    Why was there a decline in U.S. shipments of Vietnamese seafood?
    The decline in U.S. shipments can be attributed to the effects of the Marine Mammal Protection Act and challenges in obtaining certificates of analysis for seafood exports.

    Why is a downturn in seafood exports anticipated in February?
    The predicted downturn is due to potential disruptions in production and logistics during the Tet (Lunar New Year) holiday, ongoing regulatory challenges in the U.S., and an expected drop in Chinese demand after an early period of stockpiling.

  • United Overseas Bank Breaks Ground: First Foreign Institution to Headquarter at Vietnam’s International Financial Center

    United Overseas Bank Breaks Ground: First Foreign Institution to Headquarter at Vietnam’s International Financial Center

    United Overseas Bank (UOB), based in Singapore, is poised to become the inaugural foreign banking institution to establish its headquarters at the International Financial Center (IFC) in Ho Chi Minh City. This information surfaced during a meeting between Singapore’s Deputy Prime Minister Gan Kim Yong and his Vietnamese counterpart, Standing Deputy Prime Minister Nguyen Hoa Binh.

    UOB holds the distinction of being the first Singaporean bank to set up a representative office in Vietnam, a move that dates back to 1992. Following this, in 1995, the bank launched a wholly foreign-owned branch in Ho Chi Minh City.

    Expansion Plans

    Wee Ee Cheong, UOB’s Deputy Chairman and CEO, who previously met with Binh, disclosed that the bank is contemplating a 20% increase in the capital of its Vietnamese subsidiary to VND10 trillion (US$380 million). This move is intended to facilitate the expansion of the bank’s operations in Vietnam, a Southeast Asian market that UOB regards as strategically significant.

    The IFC, which received approval from the National Assembly last June, is set to be established in two locations, with Da Nang City being the second. Several domestic lenders and financial institutions, including MB Bank, Vietcombank, and VietinBank, have shown interest in establishing offices at the Ho Chi Minh City location of the center. Singaporean enterprises, banks, and funds have been invited by the government to establish bases at the financial center.

    Support from Singapore

    Yong expressed his support for Vietnam’s decision to establish an international financial center, deeming it a timely and appropriate policy move. He also affirmed Singapore’s commitment to share operational experiences and promote financial connectivity between financial centers in both nations.

    During Binh’s meeting with executives from approximately 20 esteemed Singaporean enterprises and investment funds, the consensus was that Vietnam should ensure policy stability and expedite the development of the legal framework for digital assets and financial technology.

    Singapore is the second largest investor in Vietnam, behind South Korea, out of 153 investing countries and territories. To date, Singapore has invested more than US$90 billion in over 4,400 active projects in Vietnam. The Vietnam-Singapore Industrial Park (VSIP) now comprises 21 parks within 14 provinces and cities. The two nations are enhancing their economic and investment cooperation efforts, in both new and promising sectors such as carbon credits, digital technology, agriculture, energy, and the upcoming VSIP 2.0.

    Questions & Answers

    What is the significance of UOB’s decision to set up its headquarters at the International Financial Center in Ho Chi Minh City?

    UOB’s decision marks a significant milestone as it becomes the first foreign bank to establish its headquarters at the newly approved International Financial Center.

    What is the proposed increase in UOB’s Vietnamese subsidiary’s capital and why?

    UOB plans to increase its Vietnamese subsidiary’s capital by 20% to VND10 trillion (US$380 million) to facilitate the expansion of the bank’s operations in Vietnam.

    What is the current status of investment between Singapore and Vietnam?

    Singapore is the second-largest investor in Vietnam, with investments exceeding US$90 billion in more than 4,400 active projects. The two nations are also enhancing economic and investment cooperation in various sectors.

  • Vinpearl CEO Dang Thanh Thuy Steps Down: A Turn of Tide in Vietnam’s Hospitality Giant

    Vinpearl CEO Dang Thanh Thuy Steps Down: A Turn of Tide in Vietnam’s Hospitality Giant

    Dang Thanh Thuy has stepped down from her position as chief executive officer of Vinpearl, Vingroup’s resort division. Despite her resignation, Thuy continues to hold a seat on the organization’s board. Vinpearl has not yet announced a successor or the reasons behind Thuy’s departure.

    Background of Dang Thanh Thuy

    Thuy, 56, holds a Bachelor’s degree in literature. She joined the ranks of Vinpearl in 2004 and has held significant positions in the company over the years. She served as the chairman of Vinpearl from January 2023 to March 2024, and from 2012 to 2016, she was the deputy CEO of Vingroup.

    Vinpearl’s Status in the Hospitality Industry

    Vinpearl stands as one of the foremost hospitality brands in Vietnam, boasting an impressive portfolio of 48 hotels, resorts, theme parks, and golf courses spread across 18 provinces and cities.

    Financial Performance

    In the third quarter of 2025, Vinpearl reported revenues of VND3.09 trillion (US$117.5 million), marking a 40.7% decrease year-on-year. The company’s post-tax profits stood at VND169 billion, falling 66.6%. Furthermore, its profits for the first nine months of the year saw a drastic decline, plummeting by 86%.

    Vinpearl is primarily owned by Vingroup, with an ownership stake of 85%. The conglomerate’s chairman is renowned billionaire, Pham Nhat Vuong.

    Questions & Answers

    Who was the previous CEO of Vinpearl?
    Dang Thanh Thuy was the former CEO of Vinpearl.

    What significant positions did Dang Thanh Thuy hold in Vinpearl and Vingroup?
    Dang Thanh Thuy served as the chairman of Vinpearl from January 2023 to March 2024 and was the deputy CEO of Vingroup from 2012 to 2016.

    What was the financial performance of Vinpearl in the third quarter of 2025?
    In the third quarter of 2025, Vinpearl reported revenues of VND3.09 trillion (US$117.5 million), a 40.7% decrease year-on-year. The company’s post-tax profits stood at VND169 billion, a decrease of 66.6%.

  • Sun PhuQuoc Airways Soars Globally: Vietnam’s Airline Gains License for International Flights, Boosts Regional Tourism

    Sun PhuQuoc Airways Soars Globally: Vietnam’s Airline Gains License for International Flights, Boosts Regional Tourism

    Sun PhuQuoc Airways, a Vietnamese airline company, recently received extended certification from the Civil Aviation Authority of Vietnam, which now permits it to operate international flights. This significant development, following a stringent evaluation process involving the application of the highest safety standards, allows the airline to provide commercial flights to international destinations within the MID/ASIA region.

    Transition to International Services

    This certification marks a substantial milestone in Sun PhuQuoc Airways’ journey from being a domestic airline to becoming an international carrier. It opens up a wealth of opportunities in thriving tourism markets across the region.

    The airline is set to start offering international flights to South Korea and Taiwan in the upcoming year. Initially, the service will commence with flights from Phu Quoc to Seoul and Taipei in March, which will then be followed by flights to Busan in September and Kaohsiung in October. Tourist visits to Phu Quoc Island in Vietnam from these regions have witnessed a steady growth in recent years, making these markets a strategic choice for the airline’s expansion into major economic and tourism hubs in Northeast Asia.

    Strategic Partnerships

    To facilitate the smooth launch of its international services, Sun PhuQuoc Airways has aligned with general sales agents (GSAs) in both South Korea and Taiwan. The airline will be represented in South Korea by Pacific Air Agency, a reputable and experienced GSA group, which will be responsible for sales, distribution, and market development.

    In Taiwan, the airline has partnered with Hongyi Travel Service, a leading outbound operator and the first company to bring tourists from Taiwan to Vietnam in the 1990s. This collaboration will enhance the airline’s connectivity with the rapidly growing outbound travel market in Taiwan. These GSAs will facilitate the development of distribution networks, marketing activities, and tailored products for each customer segment before the new routes are launched.

    Fleet Expansion

    In addition to its service expansion, Sun PhuQuoc Airways has been investing in its fleet. On November 24, the airline’s fourth aircraft, an Airbus A321NX, was officially put into commercial service to accommodate the increased travel demand during peak seasons. The airline also expects to add another aircraft to its fleet this month.

    The airline views these developments as strategic steps toward establishing Phu Quoc as a new regional hub for tourism and aviation. The introduction of direct international routes will not only improve market access to two of Vietnam’s largest visitor sources but will also contribute to the integrated tourism ecosystem of Phu Quoc. Travellers will enjoy a seamless journey that encompasses flights, resorts, dining, entertainment, and leisure.

    The airline’s expansion into international markets aligns with Phu Quoc’s selection as the host city for APEC 2027. The island is making rapid strides in infrastructure and urban development projects to prepare for this global event. The airline’s growth is expected to enhance the island’s competitiveness and attract a higher calibre of visitors to Vietnam in the future.

    Questions & Answers

    What significant milestone has Sun PhuQuoc Airways recently achieved?
    Sun PhuQuoc Airways has recently been granted certification to operate international flights, marking a significant transition from being a domestic carrier to an international airline.

    Which international routes is Sun PhuQuoc Airways planning to introduce next year?
    Sun PhuQuoc Airways is planning to introduce flights to South Korea and Taiwan next year, beginning with Seoul-Phu Quoc and Taipei-Phu Quoc in March, followed by Busan-Phu Quoc in September and Kaohsiung-Phu Quoc in October.

    How is Sun PhuQuoc Airways preparing for the launch of its international routes?
    To facilitate the smooth launch of its international routes, Sun PhuQuoc Airways has appointed general sales agents in both South Korea and Taiwan to manage sales, distribution, and market development. Additionally, the airline is also expanding its fleet to meet the increased travel demand.

  • Vietnam’s Exports Skyrocket: Breaking Records with $126 Billion Sales to US in 2022

    Vietnam’s Exports Skyrocket: Breaking Records with $126 Billion Sales to US in 2022

    The first ten months of the year saw a notable increase in exports to the U.S., with figures hitting a historical record that surpasses the full year of 2024. The boost was largely driven by the sectors of electronics and textiles. According to Vietnam Customs, there was a 28% year-on-year increase, bringing the total to US$126 billion, which represents over 30% of all exports.

    Key Contributors to the Export Increase

    A major factor in this increase was the growth in the export of computers, electronic products, and components. These rose by nearly 78% to over $34 billion, bolstered by a high demand for AI servers, tech devices, and parts required for semiconductor production.

    The shipment of machinery and equipment also experienced growth, with a 9.2% rise taking the total to $19.6 billion. Meanwhile, exports of phones and components saw a slight upward trend, totaling $9 billion, following a stagnant period of two years.

    The structure of Vietnam’s exports is also being transformed by a significant rise in the exports of toys and sporting goods. As numerous U.S. companies began to shift their orders away from China, this category witnessed an increase of over 255%, reaching $5.24 billion.

    Impressive Growth in Agriculture and Aquatic Exports

    There was also a substantial increase in agricultural and aquatic exports. Fruit and vegetables, coffee, and rubber products saw shipment increases of 58.5%, 60% and 51% respectively.

    Following a prolonged period of significant decline, aquatic products experienced a resurgence. There was a 7.5% increase in growth as U.S stocks dropped and the demand for premium seafood regained momentum. Textile and garment shipments also made a strong recovery, with an 11.4% rise bringing the total to $14.8 billion.

    Seafood companies in An Giang reported that goods with clear provenance and high quality were still being fairly easily accepted into the U.S. market. A number of firms are broadening their horizons and branching out into the halal market, whilst also exploring markets with consumption patterns that mirror the U.S.

    Shifting Global Supply Chains

    Analysts believe that this growth in exports is indicative of a significant shift in global supply chains. As U.S. companies increasingly look to reduce their dependence on China due to high tariffs, Vietnam’s standing in a range of product markets is being bolstered.

    Questions & Answers

    What factors contributed to the increase in exports to the U.S.?
    The increase in exports to the U.S. was driven by a surge in several sectors including electronics, textiles, toys, and sporting goods. The demand for tech devices and components for AI servers and semiconductor production also played a significant role.

    What changes occurred in the export structure of Vietnam?
    The export structure of Vietnam is experiencing a transformation due to the significant rise in the exports of toys and sporting goods. This is largely as a result of U.S. companies shifting their orders away from China.

    Has there been growth in the agricultural and aquatic exports?
    Yes, there has been a substantial increase in agricultural and aquatic exports. Shipments of fruits and vegetables, coffee, and rubber products rose significantly. After a steep decline, aquatic products also rebounded with a growth of 7.5%.

  • Vietnam’s Gold Prices Skyrocket to 3-Week High Amid Global Rate Surge and U.S. Government Resumption

    Vietnam’s Gold Prices Skyrocket to 3-Week High Amid Global Rate Surge and U.S. Government Resumption

    The price of gold in Vietnam saw a significant increase on Tuesday, reaching its peak since October 21st. This uptick was reflective of a global surge in gold prices, spurred by the anticipation of the U.S. government’s resumption.

    Saigon Jewelry Company reported a 1.20% increase in their gold prices, now standing at VND152 million (US$5,777.28) per tael. A tael, a common unit of measurement used in East Asia, equates to 37.5 grams or 1.2 ounces.

    Rise in Gold Jewelry Prices

    In line with the increase in gold prices, the cost of gold rings also saw a rise of 1.35%, now costing VND149.8 million per tael. So far this year, the price of gold in Vietnam has surged by a substantial 80.5%.

    Global Gold Rates

    Internationally, gold prices have been on a steady upward trend, reaching near three-week highs on Tuesday. These gains are believed to be influenced by expectations of another U.S. Federal Reserve interest rate cut in December, as well as indications of an end to the U.S. government shutdown.

    The price of spot gold also increased by 0.7%, reaching $4,142.83 per ounce, its highest since October 24th.

    Impact of U.S. Government Shutdown

    The U.S. Senate recently passed a deal to restore U.S. federal funding, marking an end to the longest government shutdown in history. This shutdown led to delays in key economic indicators, such as the U.S. non-farm payrolls report.

    The end of the shutdown is expected to provide more clarity on the U.S. economic outlook as well as the Federal Reserve’s interest rate trajectory. It is believed that the resolution of the shutdown has lifted a level of uncertainty, allowing markets to refocus on major speculative narratives for the year.

    According to Ilya Spivak, head of global macro at Tastylive, the upside is still favored for the rest of the year. With the path of least resistance for gold trending back to October’s high, it is anticipated that prices may continue to rise thereafter.

    Questions & Answers

    What caused the recent surge in gold prices in Vietnam and globally?
    Anticipation of the resumption of the U.S. government and expectations of another U.S. Federal Reserve interest rate cut in December are believed to have spurred the recent surge in gold prices.

    How has the U.S. government shutdown impacted the gold market?
    The U.S. government shutdown led to delays in key economic indicators, creating a level of uncertainty in the market. With the resolution of the shutdown, this uncertainty has been lifted, allowing markets to refocus and consequently affecting gold prices.

    What is the outlook for gold prices for the rest of the year?
    According to experts, the upside is still favored for the rest of the year, with potential for prices to continue rising.

  • UOB Bumps Up Vietnam’s Economic Growth Projection to 7.7%, Beating Previous Estimates Despite US Tariff Challenges

    UOB Bumps Up Vietnam’s Economic Growth Projection to 7.7%, Beating Previous Estimates Despite US Tariff Challenges

    United Overseas Bank (UOB) of Singapore has revised its predicted GDP growth rate for Vietnam upward, from 7.5% to 7.7%. This adjustment comes in response to Vietnam’s stronger-than-anticipated economic performance in the third quarter.

    Impressive Economic Performance Despite U.S. Tariff Threats

    Despite looming threats of U.S. tariffs, Vietnam showcased a robust economic performance by achieving a growth rate of 8.23% in the third quarter. This growth was primarily fueled by a surge in exports and manufacturing, according to UOB.

    In the year’s first nine months, exports soared by 16% year-on-year, while manufacturing rose by 10.8%. The Purchasing Managers’ Index also showed signs of recovery, expanding for three consecutive months following a three-month phase of contraction.

    Stabilized Outlook and Foreign Direct Investment

    The economic indicators suggest a stabilized economic outlook for Vietnam. This notion is further supported by the accelerated pace of foreign direct investment (FDI) into the country. FDI grew by 8.5% to reach $18.8 billion. If this trend continues, the year-end figures could potentially match 2024’s record-breaking total of $25.4 billion.

    However, UOB cautions that Vietnam’s open economy makes it susceptible to trade frictions. Exports of goods and services make up a significant 83% of Vietnam’s GDP, the second highest among ASEAN nations.

    Concerns Over the Impact of Tariffs and Exchange Rates

    Despite the robustness of Vietnam’s trade activities in the face of U.S. tariffs, there are concerns that export orders might dwindle as order frontloading eases and higher prices affect U.S. consumer demand in 2026.

    Another area requiring attention is the foreign exchange market. The Vietnamese dong was the second worst-performing Asian currency in the first nine months of 2025, depreciating 3.55% against the U.S. dollar. The currency that fared worse was the Indian rupee, which fell by 3.58%.

    Other Predictions of Vietnam’s Economic Growth

    Aside from UOB, other financial institutions have also revised their growth forecasts for Vietnam this year. HSBC, a British bank, predicts a growth figure of 7.9%, while the Asian Development Bank anticipates a growth rate of 6.7%.

    Vietnam’s Prime Minister, Pham Minh Chinh, expressed optimism last month, stating that with the current growth momentum, Vietnam could surpass its GDP growth target of 8% for this year, barring any major disruptions.

    Questions & Answers

    What is the revised GDP growth forecast for Vietnam by UOB?
    UOB has revised the GDP growth forecast for Vietnam from 7.5% to 7.7%.

    What factors are contributing to Vietnam’s economic growth?
    Strong exports, manufacturing, and foreign direct investment have been significant contributors to Vietnam’s economic growth.

    What concerns does UOB express regarding Vietnam’s economy?
    UOB has expressed concerns about possible trade friction due to Vietnam’s open economy. There are also concerns about the performance of the Vietnamese dong in the foreign exchange market.

  • H3Tech Leverages Vietnam’s Tech Prowess to Transform Global Healthcare Landscape

    H3Tech Leverages Vietnam’s Tech Prowess to Transform Global Healthcare Landscape

    H3Tech, a pioneer in healthcare technology, seeks to revolutionize the U.S. healthcare sector by employing a sophisticated tech approach and a business model rooted in Vietnam. The company differentiates itself from other offshore providers by being a strategic development collaborator for healthcare tech businesses both within the U.S. and worldwide.

    According to Mikael Ohman and Michael Gilbert, the co-CEOs and co-founders, the healthcare sector represents close to 20% of the U.S. economy. However, it is plagued by high costs and mediocre outcomes. Observing the potential of technology to not only cut costs but also enhance quality, they brought H3Tech into existence. Their vision was to utilize high-tech solutions to make a significant impact on the lives of individuals involved in healthcare.

    Both Mikael and Mike possess extensive experience working with international software engineering firms across the globe. They note that Vietnam boasts some of the highest quality software engineers and technology leaders globally. Thus, when it came to launching H3Tech, Vietnam was their preferred choice. Mike recognized and acknowledged the efforts the Vietnamese government has put into education and additional support for the technology sector.

    Questions & Answers

    What is the goal of H3Tech?
    H3Tech aims to revolutionize the U.S. healthcare sector by leveraging advanced technology and a business model rooted in Vietnam.

    How does H3Tech differentiate itself from other offshore vendors?
    Unlike typical offshore vendors, H3Tech positions itself as a strategic development collaborator for healthcare tech businesses, both within the U.S. and worldwide.

    Why was Vietnam chosen as the primary location for H3Tech’s operations?
    Vietnam was chosen due to its high-quality software engineers and technology leaders. The Vietnamese government’s investment in education and additional support for the technology sector was also a significant factor in the decision.

  • Vietnam’s Economy Soars: Standard Chartered Forecasts 7.5% GDP Growth in 2025 Amid Robust Trade and FDI Inflow

    Vietnam’s Economy Soars: Standard Chartered Forecasts 7.5% GDP Growth in 2025 Amid Robust Trade and FDI Inflow

    Standard Chartered Bank has revised its economic growth forecast for Vietnam this year from an initial prediction of 6.1% to a more promising 7.5%. In its most recent macroeconomic report, Standard Chartered also adjusted its growth prospect for the country for 2026, from 6.2% to a promising 7.2%.

    Increasing Role in the Global Supply Chain

    A key factor highlighted by Standard Chartered Bank was Vietnam’s expanding role in the global supply chain. This elevation is largely fueled by the country’s robust trading performance and deepening integration into international commerce through various free trade agreements. In September, Vietnam’s exports reached a staggering US$42.7 billion, a 24.7% increase compared to the previous year. This impressive growth was spearheaded by key sectors such as electronics and computers (up 66.2%), telephones (17.5%), and machinery (11.6%).

    Simultaneously, imports saw a 24.9% increase to $39.8 billion, with electronics and computer supplies (up 43.6%) and machinery (up 33.6%) leading the charge. These numbers indicate a consistent expansion in production and industrial capacity in Vietnam.

    Resilient External Position and Economic Recovery

    Standard Chartered Bank highlighted Vietnam’s resilient external position, bolstered by solid trade and a stable foreign exchange outlook. After previously being depleted due to the strengthening of the U.S. dollar, it is anticipated that the country’s FX reserves will be rebuilt. This reflects an improved macroeconomic stability and a healthy trade performance.

    As another positive economic indicator, the growth of domestic credit has also sped up, suggesting a continued economic recovery without requiring policy rate cuts. Current credit growth surpasses 15% year on year, which indicates growing business confidence and a higher demand for finance. The bank also pointed out that lending growth continues to be robust, supported by favourable liquidity conditions and government initiatives to stimulate growth.

    Foreign Direct Investment as Key Growth Driver

    Foreign direct investment (FDI) remains a significant contributor to growth. In the first nine months of 2025, the amount of disbursed FDI increased by 8.5% year on year, amounting to $18.8 billion, while registered FDI surged by 15.2% to $28.5 billion.

    Looking ahead, Standard Chartered economists predict the refinancing rate to remain at 4.5% for the remainder of this year and 2026, with favourable conditions encouraging investment and expansion. Tim Leelahaphan, senior economist for Vietnam and Thailand at Standard Chartered, praised Vietnam’s resilience and adaptability, which have been demonstrated through its strong FDI inflows and robust export growth. These factors have reinforced its strategic role in the diversification of the global supply chain and suggest an optimistic outlook for continued economic expansion.

    The bank also maintained its forecast for the USD/VND exchange rate at VND26,300 for this year and VND26,750 for 2026, while lowering inflation projections to 3.4% for 2025 and 3.7% for next year. These updated figures were based on stronger-than-expected growth momentum and easing price pressures.

    Questions & Answers

    What is the revised economic growth forecast for Vietnam in 2026?
    Standard Chartered Bank has revised the economic growth forecast for Vietnam in 2026 from 6.2% to 7.2%.

    What factors have led to the growth of Vietnam’s role in the global supply chain?
    The growth of Vietnam’s role in the global supply chain is primarily due to its strong trading performance and its deepening integration into international commerce through several free trade agreements.

    How is the Foreign Direct Investment (FDI) contributing to Vietnam’s economy?
    FDI is a significant contributor to Vietnam’s economy. In the first nine months of 2025, discharged FDI increased by 8.5% year on year, reaching $18.8 billion whereas registered FDI surged by 15.2% to $28.5 billion. This robust FDI inflow is a testament to Vietnam’s resilience and adaptability, indicating a positive outlook for continued economic expansion.

  • Vietnamese Gold Bar Prices Climb Amid Global Market Fluctuations And Anticipation Of Us Interest Rate Cuts

    Vietnamese Gold Bar Prices Climb Amid Global Market Fluctuations And Anticipation Of Us Interest Rate Cuts

    Vietnamese gold bar rates experienced a climb on Monday morning, following a decrease over the weekend. Saigon Jewelry Company, a notable gold bar trader in the region, saw prices rise by 0.33%, bringing their rates up to VND151.5 million (US$5,750.62) per tael after their 1.31% fall over the weekend. Similarly, Asia Commercial Bank-branded bullion also saw its prices on par with the rates of Saigon Jewelry Company.

    Domestic gold bar prices now stand at VND15.5 million per tael higher than global rates. Meanwhile, the price for gold rings remained steady, circling around VND150.2 million per tael. Here, a tael is the equivalent of 37.5 grams or 1.2 ounces.

    Global Gold Market Trends

    In the global market, gold prices saw a slight ascent on Monday, influenced by the probability of more U.S. interest rate reductions. Investors with their eyes on the gold market are currently waiting for the release of U.S. inflation data along with the U.S.-China trade negotiations for further cues on market direction this week.

    Spot gold had an uptick of 0.1%, standing at $4,253.33 per ounce, while U.S. gold futures for December delivery saw an increase of 1.3%, adjusting to $4,266.30 per ounce.

    Spot silver experienced a rise of 0.5% to reach $52.12 per ounce. This came after prices took a 4.4% fall on Friday, marking their worst session since early April, despite hitting a record peak of $54.47 earlier that day.

    Kyle Rodda, a market analyst from Capital.com, remarked, “The gold market is trying to find its footing after Friday’s selloff. Sentiment is normalizing, cooling down a bit, after a few weeks of mania.” Gold experienced about a 1.8% plunge on Friday, marking the steepest fall since mid-May, following U.S. President Donald Trump’s statement that his proposed 100% tariff on goods from China would not be sustainable.

    Questions & Answers

    Why did the gold bar prices in Vietnam increase on Monday?
    The increase in gold bar prices on Monday followed a decline over the weekend. This is a common market fluctuation.

    How are global gold prices performing?
    Global gold prices saw a slight increase on Monday, influenced by the potential for more U.S. interest rate cuts. Investors are also waiting on U.S. inflation data and U.S.-China trade discussions for further market direction.

    What caused the drop in gold prices on Friday?
    Gold prices fell after a statement from U.S. President Donald Trump suggested that his proposed 100% tariff on goods from China would not be sustainable, leading to market uncertainty.

  • Vietnamese Chain Pizza 4p’s Brings Unique Fusion Flavors To U.s. With Brooklyn Outpost

    Vietnamese Chain Pizza 4p’s Brings Unique Fusion Flavors To U.s. With Brooklyn Outpost

    Pizza 4P’s, a notable Vietnamese restaurant chain, is poised to enter the U.S. market with a premier spot nestled in Brooklyn, New York. This marks a significant stride in the company’s continuing global expansion efforts.

    The restaurant chain is well-regarded for its commitment to a farm-to-table approach and in-house cheese production. With these unique offerings, combined with a distinct fusion of Japanese Omotenashi hospitality and artisanal pizza, the group is set to make its mark in one of the globe’s most fiercely competitive gastronomic landscapes.

    The Brooklyn branch is the fifth overseas establishment for Pizza 4P’s, following its successful foray into Japan, Cambodia, Indonesia, and India. Coinciding with the U.S. inauguration, the group has initiated the search for a General Manager to oversee this flagship outlet.

    Established in 2011 in Ho Chi Minh City, Pizza 4P’s has since blossomed into a regional favorite, boasting over 30 branches sprinkled across Asia.

    This Brooklyn outpost is projected to act as a proving ground for the brand’s operational blueprint and customer allure in the U.S. market. The prospects for further growth and expansion are likely to depend on the market’s reaction and acceptance.

    Questions & Answers

    What is Pizza 4P’s known for?
    Pizza 4P’s is known for its farm-to-table philosophy and homemade cheese, blended with a unique take on Japanese Omotenashi hospitality and artisanal pizza.

    Where is Pizza 4P’s planning to open its first U.S. location?
    Pizza 4P’s is set to make its U.S. debut in Brooklyn, New York.

    How will the Brooklyn location contribute to Pizza 4P’s growth strategy?
    The Brooklyn store is intended to serve as a testbed for the brand’s operational strategies and customer appeal in the U.S., potentially paving the way for further expansion based on market response.

  • H&M Eyes Expansion In Ho Chi Minh City Amid Southeast Asia Growth Strategy

    H&M Eyes Expansion In Ho Chi Minh City Amid Southeast Asia Growth Strategy

    The Swedish fast-fashion behemoth, H&M, is set to broaden its reach in Ho Chi Minh City, a bustling retail hotspot in Vietnam, as a crucial part of its larger growth strategy for Southeast Asia.

    Expansion Plans for H&M in Vietnam

    According to local sources, H&M Vietnam is actively scouting for opportunities to inaugurate new stores in the city’s prime commercial hubs. As it stands, the brand runs 14 stores throughout the country, with plans to increase this to 20 in the upcoming years. A significant emphasis is being placed on the city center of Ho Chi Minh City for these new store openings.

    In order to ensure a smooth expansion, H&M is diligently navigating local lease processes and adhering to regulatory requirements.

    H&M’s Growth in Vietnam and Beyond

    H&M ventured into the Vietnamese market in 2017. Despite this, its store count remains small when stacked against other markets in the region, such as Malaysia, Thailand, and the Philippines.

    However, it’s worth noting that the brand is experiencing a global resurgence, with its operating profit witnessing a 40 percent surge to US$523 million in this year’s third quarter. Additionally, their operating margin has also seen a rise, going up from 5.9 to 8.6 percent.

    Questions & Answers

    When did H&M first enter the Vietnamese market?
    H&M first entered the Vietnamese market in 2017.

    How many stores does H&M currently operate in Vietnam?
    At present, H&M operates 14 stores across Vietnam.

    What are H&M’s expansion plans in Vietnam?
    H&M plans to grow its presence in Vietnam by increasing its store count from 14 to 20 in the coming years, with a particular focus on central Ho Chi Minh City.