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Vietnam Debates Case for Higher Minimum Wage
Discussions surrounding a higher minimum wage in Vietnam reflect an increasingly popular trend towards higher minimum wages across Asia. With many factories moving operations away from China due to rising wages and a growing middle class unwilling to work in the factories. Vietnam, Bangladesh, India and Pakistan are set to inherit low-wage manufacturing operations over the next decade.
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Business Optimism on the Rise in Vietnam
New reforms for employing workers, increasing access to credit and investor protection measures have made it easier to do business in Vietnam, according to the World Bank.
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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.
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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.
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Hi-Tech Parks and New Urban Areas Slow to Attract Investment in HCMC
Ho Chi Minh City saw an 83.5 percent year-on-year increase in foreign direct investment inflows during the first six months of 2014. However, the city’s Hi-Tech and New Urban Areas have abjectly failed to attract the levels of investment that were previously hoped for.
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Quang Ninh to Boost Number of Investment Projects
The Quang Ninh People’s Committee has recently announced a proposal which calls for investment into 35 projects in the province during 2014-2016 and with an orientation towards the year 2020.
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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.
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Netherlands-Vietnam Energy Forum Held in Hanoi
On June 17, 2014, the Netherlands-Vietnam energy forum was held in Hanoi. The forum discussed the effective implementation of a 2011 memorandum of understanding (MoU) signed between both countries.
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Vietnam Tightens Regulations on Foreign Sourced Loans
On May 15, 2014, new legislation went into effect that tightened the Vietnamese government’s control of foreign sourced loans. This legislation is of particular importance since many Vietnamese businesses tend to opt for loans from overseas financial institutions and business partners.
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British Business Group Vietnam Opens Business Center in Ho Chi Minh City
On Tuesday June 10, the British Business Group Vietnam opened a new business center in Ho Chi Minh City. The center is intended to boost trade and investment between the United Kingdom and Vietnam.