Want to be in the loop?
subscribe to
our notification
Business News
VIETNAM MAINTAINS THIRD RANK IN INTERNATIONAL LOGISTICS OPPORTUNITIES
Vietnam has maintained its third spot in the international ranking of logistics opportunities, according to the Agility Emerging Market Logistics Index in 2020.
The 2020 Agility Emerging Markets Logistics Index indicates that the group of six markets identified by survey respondents as having the most promising logistics markets was unchanged in 2020. India and China maintain a marked lead in this ranking as they do in the data-driven Index. Vietnam remains third as confidence matches the progress it has made in improving its infrastructure and domestic market in recent years, in addition to the export growth it has seen as trade shifts from China.
If businesses are going to relocate from China, Vietnam and India are the most likely investment destinations, according to 48 per cent of those surveyed. Mexico and Cambodia were the lowest-rated relocation options amongst survey respondents.
In addition, Vietnam also ranked 11th overall in the 2020 Agility Emerging Markets Logistics Index, down one spot against last year. In Southeast Asia, Vietnam ranked fourth, trailing behind Indonesia, Malaysia, and Thailand.
In line with survey respondents’ assertions, Vietnam currently appears to be the "winner" of the trade war as both air and sea imports to the US are forecast to increase 23 and 25 per cent, respectively, in 2019.
China’s largest export items (in terms of volume) to the US by sea via container was furniture, bedding, and lamps in 2018. This accounted for 14 per cent of sea freight volumes exported to the US. Goods from this product category were hit in the tranche of tariffs applied on $200 billion worth of goods, initially 10 per cent in September 2018 before rising to 25 per cent in May 2019.
As Chinese exports of these products to the US have fallen, Vietnam has benefitted, exporting 333 million kilogrammes more furniture to the US over the same period. Projecting the whole year at this level, Vietnam could export over 2.1 billion kg of furniture to the US. This would be the highest growth rate over this time period and comfortably the largest increase in absolute terms, according to the report.
Source: VIR
Related News
![Card image cap](/uploads/Logo/Cathay%20%281%29.jpg)
EXPLORE HONG KONG WITH A COMPANION
From now until 19 August 2024, you can enjoy our exclusive Fly 2 Hong Kong offer on round-trip Economy flights from USD364^ for 2 persons, sponsored by Hong Kong International Airport. Bring along a travel buddy and experience together the excitement and charm of our vibrant home city.
![Card image cap](/uploads/news/Factory%201.jpg)
BUSINESSES INCREASE WISHES FOR SPECIALISED INDUSTRIAL PARKS
Data centres, industrial parks (IPs) reserved for high-tech production, and parks serving Chinese, the United States, Taiwanese, or Japanese investors are gradually being formed to welcome new funding waves, according to Truong An Duong, general manager of North Vietnam and Residential at Frasers Property Vietnam.
![Card image cap](/uploads/news/economic.jpg)
VIETNAM’S H1 ECONOMIC GROWTH QUITE IMPRESSIVE: ADB COUNTRY DIRECTOR
Country Director of the Asian Development Bank (ADB) for Vietnam Shantanu Chakraborty has expressed his impression of the Southeast Asian nation’s economic growth of 6.4 per cent in the first half of this year. The growth was mainly driven by strong trade recovery, where export grew by 14.5 per cent and import by 17 per cent over last year, he told the Vietnam News Agency. However, he said, the domestic segment remained sluggish.
![Card image cap](/uploads/news/Infrastructure13.jpg)
REAL ESTATE FIRMS AGGRESSIVELY RESTRUCTURING BOND DEBT
From the start of 2024 to July 5, the market saw 133 private placements and ten bond public offerings, totalling over VNĐ140 trillion. 65.6 per cent of this value was from the banking sector, while real estate bonds accounted for only 24.6 per cent, or over VNĐ34.5 trillion.
![Card image cap](/uploads/news/Eco2.jpg)
GOV’T UNVEILS ACTION PLAN TO ACCELERATE INDUSTRIALISATION
Vietnam aspires to become among the top three industrial powerhouses in ASEAN, with the industrial sector contributing over 40 per cent to GDP. The manufacturing and processing sector is expected to account for around 30 per cent of GDP, with a strong emphasis on high-tech products aiming for over 45 per cent of the sector's value. To further drive the economy, the service sector is projected to contribute over 50 per cent to GDP, with tourism alone generating 14-15 per cent.
![Card image cap](/uploads/news/Industrial%20Zone.jpg)
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).