[Apr 22 - May 05, 2019] Vietnam Weekly Industrial & Logistics Highlight
Vietnam’s PMI hits four-month high
The Vietnamese manufacturing sector maintained its growth in April as firms were once again successful in securing new orders, with the Manufacturing Purchasing Managers’ Index (PMI) rising to a four-month high of 52.5 from 51.9 in March.
Trump escalates trade war with China with plan to raise tariffs
Donald Trump has escalated the trade war with China by announcing plans to hike the tariff imposed on $200bn of Chinese goods from 10% to 25% on 03/05/2019. Stocks in Asia plummet after signal that US will hike import tax to 25%, dealing blow to hopes of a lasting deal
VN poised to become manufacturer of established global brands
Competitive labour costs and preferential policies will continue to help Viet Nam become an ideal destination for investors in the garment and textile sector.
LG Electronics to move smart phone production to Vietnam
The Republic of Korea’s LG Electronics plans to move its smart phone production to Vietnam to cut down losses for mobile devices business since the second quarter of 2017, Yonhap News Agency reported April 24.
FDI in Vietnam reaches record level in four months
FDI in VN witnessed a significant yearly increase of 81 per cent to US$14.59 billion in the first four months of the year, the Foreign Investment Agency under Ministry of Planning and Investment announced on 01/05/2019.
Hai Duong lures 365 million USD in FDI in four months
The northern province of Hai Duong attracted over 365 million USD of foreign direct investment (FDI) in the first four months of this year, up 26.2 percent year-on-year, according to local authorities.
EU, Vietnam to ratify “ambitious” EVFTA by end of 2019: HSBC
It is estimated that the EU-Vietnam FTA (EVFTA) will add 0.1 percentage point (ppt) on average to Vietnam’s real GDP growth each year based solely on its trade impacts.
China takes lead in newly-registered capital in VN
China overcame South Korea and Japan to become the largest foreign investor in Vietnam in the first four months of the year in terms of newly-registered capital with $1.3 billion.
High-quality investments insert Vietnam into global supply chains
American companies are inserting Vietnam into the global supply chain while creating quality jobs and helping the country become more productive and efficient.
VN automated customs management system to be fully deployed
The deployment of the Vietnam Automated System for Seaport Customs Management (VASSCM) will be completed in 2019, according to the General Department of Vietnam Customs.
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