Mekong Memo Vietnam 20230921

Mekong Memo Vietnam Weekly, September 21, 2023: Business, politics, finance, trade & legal news.

We monitor and filter the very best and most insightful business stories from Southeast Asia directly to your inbox every week.

By reviewing a wide variety of media including legal, financial and other relevant industries along with government and NGO sources, we are able to sift through the noise and bring you only what we believe to be relevant to an informed observer of Vietnam business news.

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With that said, here is your Mekong Memo Vietnam for the week of September 21, 2023:

Headlines:

Navigating the Tightrope: Vietnam's Economic Future

Moody's Breaks Ground in Vietnam's Credit Rating Market

Vietnam's Remarkable Economic Transformation

World Bank: Spend to Grow!

The $88 Billion Climate Threat to Asia's Fashion Factories

Vietnam's Hidden Wellness Tourism Goldmine

Is 'China Plus One' Losing Its Luster?

Why Your Electric Bill Could Soon Change

The Economic Landscape: A Mixed Bag of Booming Exports and Supply Gaps

Vietnam's Chip Strategy: A Global Game-Changer?

Perfect Storm Brewing in Vietnam's Coffee Market

ADB's Solar Power Play in Vietnam

China's Next Factory Frontier: Vietnam

Why LEGO Is Scouting Thousands in Vietnam

Dong Swings Lower Amid Federal Reserve Anticipation

The IT Talent Crisis: What's Missing?

Vietnam's Car Plate Auction: A $3.4M Phenomenon

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Navigating the Tightrope: Vietnam's Economic Future

Vietnam's Ministry of Planning and Investment has outlined three economic growth scenarios for 2024, with the highest GDP growth rate projected at 6.5%. This comes amid challenges from 2021-23 and aims to meet the 2023 growth goal of 6.5%. On the other hand, global economic headwinds are making it difficult for Vietnam to achieve its growth targets. Exports have dropped, and major markets like China and the U.S. are slowing down. Despite these challenges, there is cautious optimism for recovery, influenced by both domestic and global factors.

Read more: VEN CongThuong, Yahoo News, Saigon Times, VN Express

Moody's Breaks Ground in Vietnam's Credit Rating Market

U.S.-based Moody's has gained entry into Vietnam's credit rating market through its 49% stake in Vietnam Investors Service and Credit Rating Agency (VIS Rating). This milestone follows strengthened U.S.-Vietnam relations and comes as Vietnam tightens its corporate bond regulations. Starting next year, companies issuing bonds worth over 500 billion dong will be required to obtain credit ratings. The move is expected to enhance transparency and investor confidence in Vietnam's burgeoning bond market.

Read more: Yahoo Finance

Vietnam's Remarkable Economic Transformation

Vietnam has undergone a transformative journey from its war-torn past to becoming a rising star in the global economy. Celebrating its Independence Day with nationwide festivities, the country reflects on its history and its economic ascent, driven by policies like Doi Moi and significant foreign investments. Despite challenges like traffic jams and economic inequality, Vietnam's resilience and entrepreneurial spirit shine through. The country has even overtaken the Malaysian economy, and its future, although impacted by global economic shifts, remains promising.

Read more: New Straits Times