INDUSTRIAL MARKET
Vietnam: FDI in Vietnam growing faster than ASEAN average
FDI in Vietnam has a compound annual growth rate (CAGR) of 10% from 2010-2023, higher than the average of 7.6% for countries in the ASEAN region. Vietnam’s exports are expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2024-2030, while domestic consumption is also expected to grow by 6.1%over the same period. The e-commerce industry is expected to grow strongly with a CAGR of 33.8% from 2019-2023, driving demand of warehouses, data centers.
Vietnam: Industrial Production and Investment Situation in the First 8 Months of 2024
The Industrial Production Index (IIP) in August 2024 is estimated to increase by 2.0% over the previous month and by 9.5% over the same period last year. In the first 8 months of 2024, the IIP is estimated to increase by 8.6%over the same period last year (the same period in 2023 decreased by 0.2%). In August 24, the country had 13.4 thousand newly established enterprises, down 15.2%compared to July 2024 and down 12.8% compared to the same period last year.
Vietnam: The US identifies 4 Industries that should be invested in Vietnam
Recently, the Wilson Center (USA) published an article on Vietnam’s economic potential and the possibility of US investment in Vietnam. In addition to analyzing the existing factors of the economy, the article also clearly stated the strategic industries that investors, including the US, should pay attention to when investing in Vietnam. These include: Semiconductor industry; Pharmaceutical industry; Telecommunications industry; Vietnam’s large infrastructure projects, including Port infrastructure; …
Vietnam: The region leading the race to attract investment in Industrial Real Estate
Infrastructure in the North is considered to be strongly developed, with 10 completed highways and 4 other projects under implementation; the South has about 7 highways. The North has more economic zones according to the Government’s planning, notably the new Coastal EZ in Hai Phong with a scale of more than 20,000 ha. Currently, the North is considered to be leading in attracting FDI projects, especially from large technology corporations.
Vietnam: Interesting developments in the Ready-Built Factory and Warehouse Market
While the ready-built factory market continues to show solid performance amid a volatile global economy, the ready-built warehouse market is stabilizing after a period of strong growth. This is supported by the growth of the manufacturing sector and the storage demand from manufacturing industries, as well as increasing domestic consumption. As the industrial sector and supply chain continue to develop, Vietnam is witnessing increasing interest in new potential assets:data centers, cold storage.
Vietnam: Vietnam’s largest Wastewater Treatment Plant officially in operation
Recently, the project to expand the collection system and Binh Hung Wastewater Treatment Plant was inaugurated. The project has a very large scale and construction volume, the construction items are very large, the construction area spans 8 districts with a total catchment area of over 2,500 ha. The project will have a wastewater treatment capacity of 469,000m3/day and night, 3 times higher than phase 1 and Binh Hung Wastewater Treatment Plant will become the largest capacity plant in Vietnam.
Quang Binh: Adjusting investment policy for super project worth 52,000 billion
Quang Binh Provincial People’s Committee has just held a ceremony to hand over the decision approving the adjustment of investment policy for Quang Trach II LNG Thermal Power Plant project of Vietnam Electricity Group. It is implemented in Hon La Economic Zone, belonging to Quang Trach Power Center with a total preliminary investment of 48,156 billion VND, capacity of 1,200 MW. It is expected to start construction in the Q3/2025 and completing the project in 2030.
Binh Dinh: Singaporean Enterprise Builds 2,000 Billion VND Instant Coffee Factory
The Binh Dinh Economic Zone Management Board has just granted an investment certificate for the freeze-dried instant coffee factory project to Future Enterprises Pte. LTD (Singapore). The project is built in Becamex Binh Dinh Industrial Park, Nhon Hoi Economic Zone with a total area of over 71,000 sqm and an investment capital of 2,000 billion VND. From April 2027 to January 2028, the project will complete the construction of the factory, prepare to officially come into operation.
LOGISTICS MARKET
Vietnam: Imports and Exports exceed 511 billion USD
In August 2024, the export and import turnover of goods reached 70.65 billion USD, up 0.8% over the previous month and up 13.5% over the same period last year. In the first 8 months of 2024, the total preliminary export and import turnover of goods reached 511.11 billion USD, up 16.7% over the same period last year, of which exports increased by 15.8%; imports increased by 17.7%. The trade surplus to the US is estimated at 68.1 billion USD, up 28.6% over the same period last year.
Dong Nai: Third Bridge Connecting Dong Nai and Binh Duong Opened
On September 2, Bach Dang 2 Bridge, the third bridge across the Dong Nai River was opened to traffic. Bach Dang 2 Bridge crosses the Dong Nai River, directly connecting Vinh Cuu District (Dong Nai Province) and Tan Uyen City (Binh Duong Province). The project has an investment capital of nearly VND500 billion, including the bridge and the approach roads at both ends of the bridge with a total length of nearly 3 km. The bridge is more than 400 m long, 17 m wide with 4 lanes.
Dong Nai: Departure of the first LNG train on the North-South railway
On September 6, at Trang Bom railway station (Dong Nai province), PetroVietnam Gas Corporation (PV GAS) held a ceremony to launch the train carrying the first tons of LNG from the South to the North. The event marked an important milestone for the gas industry in Vietnam… After traveling nearly 2,000km, 16 ISO tanks containing the first LNG energy stream will be transported by PV GAS by specialized tank trucks from Dong Anh station, Hanoi, to each industrial consumer in the Northern region.
Hai Phong: Promoting cooperation in developing seaport and logistics services with Sweden
The Department of Industry and Trade of Hai Phong city has signed a Memorandum of Understanding (MoU) on cooperation with the Port of Gothenburg (Sweden). The two sides agreed to coordinate in developing and expanding logistics activities between the two sides; promoting import and export, cooperating in exchanging and introducing potential customers in the field of import and export of goods and logistics services based on existing relationships between the two sides; ect.
Source: Catherine Huỳnh
