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The current cornavirus outbreak and last year’s US-China trade war have made many foreign investors in China look at moving their sourcing and manufacturing in the country to other locations. There can be many reasons – new concerns of the disease affecting production, the impact of tariffs, as well as the increasingly expensive Chinese labor market and overall costs of doing business. While we do not expect any wholesale exodus from China, we understand that businesses quite naturally evolve. After all, we are one of them.
In the first nine months of this year, U.S. imports from Vietnam jumped 34.8% year-on-year, according to consultancy IHS Markit. In comparison, U.S. imports from mainland China shrank 13.4% during the same period. That increase in exports to the U.S. has made Vietnam one the largest beneficiaries of the trade war. Vietnam’s fastest growing export categories to the U.S. are computers, telephone equipment and other machinery.
Toyoda to build airbag plant in VN
Toyoda Gosei Co., Ltd. on Wednesday released plans on its website to establish a new plant for producing airbag parts in the northern province of Thái Bình, Việt Nam.
Local, foreign firms: divided they stand
According to a survey by the Việt Nam Chamber of Commerce and Industry last year, only 14 per cent of private Vietnamese businesses had foreign-owned businesses as clients.
Regional countries agree on safe labour migration
ĐÀ NẴNG — Ministers of labour from Cambodia, Laos, Myanmar, Thailand and Việt Nam (CLMTV) –agreed to improve their migration management system and share responsibilities in contributing to safe labour migration.
Vietnam promises incentives to Koreans
Investors from the Republic of Korea (RoK) involved in the electronics industry in Vietnam will receive many incentives as part of the Government’s growing focus on the field for national industrial development, officials announced at a conference held in Seoul on June 8.
HSBC: Growth in operating conditions in manufacturing sector ongoing
Operating conditions in the manufacturing sector - Vietnam’s bedrock - point to ongoing growth, with output, employment, and new orders - both overall and overseas - continuing to expand, according to HSBC’s Vietnam at a Glance report for March to May released on June 13.
HCM City’s industrial production rises in first half
HCM City’s industrial production index experienced a year-on-year increase of 7.5 per cent in the first half of this year, the highest level recorded in the past five years.
Ministry's initiative: to make cars not yet manufactured in regional market
The Ministry of Industry and Trade (MOIT) has proposed an original idea – manufacturing car models that other regional production bases do not make.
Ministry mulls new taxes for auto industry protection
The Ministry of Industry and Trade is mapping out a new strategy for the auto industry, with highlights including an exemption of special consumption tax for local content of autos, and raising tax rates on pickups to levels now applicable to sedans.
Green light turned on for private economic groups
In the last 10 years, Vietnam has seen the establishment of private joint stock companies operating in many different business fields.
EU trade agreement promotes changes at industrial parks
The EU-Vietnam Free Trade Agreement (EVFTA) will help Vietnam become the regional hub of many foreign manufacturing companies, boosting the development of industrial zones in the country, Mr. Gellert Horvath, Vice Chairman of the European Chamber of Commerce (Eurocham) told a conference held by Vietnam-Singapore Industrial Park (VSIP) on May 11 with the theme “Unlocking the Potential of a New Model of Living and Manufacturing in the North”.