In response to recent U.S. tariff reforms under President Donald Trump, Shein, the global fast-fashion retailer, is strategically shifting its manufacturing operations to Vietnam. Historically, Shein capitalized on the U.S. de minimis rule, which permitted duty-free imports for packages valued under $800, facilitating cost-effective direct shipments from China to American consumers. However, the recent suspension...
In response to U.S. President Donald Trump’s recent announcement of potential global reciprocal tariffs, Vietnam has expressed its commitment to maintaining open trade relations with the United States. The Vietnamese government stated it has no intention of implementing measures that would “create burdens or restrict trade” with the U.S. Furthermore, Vietnam is prepared to increase...
Over the past few decades, Vietnam has transitioned from a war-torn nation to a rising economic powerhouse through strategic reforms, international trade integration, and a focus on technology-driven growth. Vietnam’s economic strategy centers on maintaining political stability, promoting export-driven industries, and increasing foreign investment. The country’s government has implemented policies aimed at improving infrastructure, fostering...
Cai Mep International Terminal (CMIT), one of Vietnam’s key deep-water ports, recently welcomed the first vessel under the Gemini cooperation—a strategic partnership between two major global shipping lines, MSC and Maersk. The initiative aims to optimize shipping operations, ensuring more efficient cargo transport through Vietnam. The Gemini service will connect Cai Mep with major ports...
Vietnam’s economy has been the region’s outperformer in 2024, with full-year growth likely at 6.7% y/y. In 2025, we think Vietnam will continue to outperform its peers, growing by 6.5%. What you will learn: Vietnam’s economy will be the standout among the ASEAN-6, growing at a faster pace relative to its peers during the next...
The United States and Vietnam have made significant strides in strengthening their economic relationship over the past few decades. Since the normalization of diplomatic ties in 1995, trade between the two countries has grown dramatically, with the U.S. now being one of Vietnam’s top trading partners. Vietnam plays a key role in global supply chains,...
Vietnam’s economic outlook for 2025 is highly positive, building upon the strong momentum from an impressive 2024. The country’s robust export performance, marked by ten consecutive months of growth, is expected to continue, provided global trade remains stable and free from disruptions, such as potential tariff policies from the U.S. Exports play a crucial role...
On January 16, 2025, the People’s Committee of Binh Dinh province welcomed Mr. Timur Mohamed, Chairman of Palmer Johnson Company, and Mr. Roland Staub, Chairman of Finance Suisse Investment Fund, to discuss investment cooperation opportunities in the field of luxury tourism. Mr. Timur Mohamed commented that Binh Dinh possesses rare factors to develop into a...
Doctranslate.io, a Vietnamese startup founded by Dr. Tran Vu Anh, has developed an AI translation platform that surpasses “giants” such as Google Translate and ChatGPT. After many years of living and working abroad, Dr. Vu Anh realized that language is a major barrier in accessing knowledge for Vietnamese people. Although current translation tools such as...
Vietnam’s economic growth, driven by export-oriented policies and pro-market reforms, has positioned it as an attractive destination for foreign investment, particularly in manufacturing. The nation’s relatively low labor costs and strategic initiatives have encouraged companies to diversify supply chains away from China, enhancing Vietnam’s role in global trade. Despite these advancements, U.S. investment in Vietnam...
Vietnam’s Ministry of Industry and Trade is drafting a decree on incentives for offshore wind power, including exemption and reduction of some fees and a commitment to minimum purchase of energy output. The draft decree stipulates that projects are exempted from paying sea-using fees during construction, and the fees are halved for 12 years...
The facility is being developed by Thai Binh LNG Power, a consortium made up of two Japanese utilities, Tokyo Gas and Kyushu Electric Power, and Vietnamese industrial conglomerate Truong Thanh Vietnam Group. The project was first announced in January last year, after the consortium formed at the Vietnam–Japan Economic Forum in Tokyo during Prime Minister...
Vietnam is proactively advancing its digital and sustainable economic transformation, positioning itself as a leader in Asia’s dual transition. The National Strategy for Digital Economy and Digital Society Development (2025 with a vision to 2030) and the National Green Growth Strategy for 2021-2030 (with a vision to 2050) underscore this commitment. Digital Economy Growth By...
Russian Prime Minister Mikhail Vladimirovich Mishustin arrived in Hanoi on January 14 for a two-day official visit at the invitation of Vietnamese Prime Minister Pham Minh Chinh. The Russian delegation was welcomed by key Vietnamese officials, including Minister Tran Van Son and Deputy Minister Le Thi Thu Hang. PM Mishustin is joined by Deputy PMs...
Vietnam’s real GDP has extended its momentum well above the median consensus views of international organisations. Vietnam’s economy demonstrated robust growth in 2024, with real GDP expanding by 7.09%, surpassing both the 5.1% growth in 2023 and the official target of 6.5%. This performance was driven by strong industrial production and services sectors, which contributed...
In 2024, the Vietnam economy showed remarkable resilience, marked by a positive GDP growth of 7.09 percent. Despite facing external challenges and the adverse impact of Typhoon Yagi, the country’s economic rebound highlighted its robust recovery and adaptability. With a steadily increasing per capita GDP and strong trade dynamics, Vietnam is a standout performer in...
According to data released by the General Statistics Office on January 6, in December 2024, the total import and export turnover of goods reached 70.53 billion USD, up 6.2% over the previous month and up 15.9% over the same period last year. In the whole year of 2024, the total import and export turnover of...
In 2024, Vietnam attracted 31.15 billion USD in foreign direct investment (FDI), an increase of 9.3% compared to 2023. Of these, Singapore continued to lead with a total registered investment capital of 6.46 billion USD, accounting for 20.7% of the total FDI capital in Vietnam. South Korea ranked second with 5.16 billion USD, accounting for...
For decades, China has been the global manufacturing leader and is known as the “factory of the world”. The country’s manufacturing industry is at the forefront of efficiency and production quality. However, over the past decade, Vietnam has emerged as a competitor in this field. South Korea’s Samsung Group currently has large factories in both...
According to a VNA correspondent in Canada, in its strategy to seek markets outside the US, Canada has chosen agricultural products and processed foods to expand exports to the Indo-Pacific region, while promoting production and trade activities in this region. The above strategy is currently being focused on by the Export Development Agency of Canada...
According to Minister Dung, Vietnam continues to be an attractive destination for global FDI flows – which are declining, and competition among countries is increasingly fierce. FDI attraction in 11 months of 2024 is estimated at nearly 31.4 billion USD, realized FDI capital is estimated at about 21.7 billion USD, up 7.1% over the same...
Vietnam has decided to restart its nuclear power program after an eight-year hiatus since 2016. On November 30, 2024, the National Assembly issued a Resolution on the development of nuclear power to meet electricity demand and reduce greenhouse gas emissions, aiming to achieve Net Zero by 2050. The Vietnam Atomic Energy Institute (VINATOM) has set...
Hanoi (VNA) – Minister of Industry and Trade Nguyen Hong Dien chaired a conference on January 2 regarding the development of science and technology human resources in service of Vietnam’s nuclear power programme. In his opening remarks, the minister highlighted the local potential for nuclear power development, noting that fifteen years ago, surveys identified 13-14...
Chinese media outlets, including The Paper, CRI, Sohu, Sina, the Guangdong E-Commerce Association’s website, and BWC, have recently highlighted Vietnam’s significant economic achievements in 2024 and its promising outlook for 2025. Reports indicate that Vietnam’s GDP grew by 6.42% in the first half of 2024, with projections suggesting it will surpass 6.8% for the entire...
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