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NEWSLETTER MR
12 MARCH, 2024/Vol. 001
www.mrbeliever.com @themrbeliever
THE VIETNAM BELIEVER
Vietnam FDI
Vietnam attracted
$4.29 billion FDI in the
first two months of
2024, up 38.6% year-
on-year
Thai Binh breaks ground on a $200
million factory
Hanoi ranks first for foreign investment
registered in 2024 so far
Welcome to 'The Vietnam Believer' newsletter, your weekly summary source for notable updates on
key sectors: FDI, Import-Export, Real Estate, Manufacturing, Energy, and Construction in Vietnam.
Join me as we explore Vietnam’s development news and investment opportunities. Now let’s dive in!
Among 48 countries and territories
with investment in Vietnam during
the January-February period,
Singapore was the biggest investor
as it poured more than $2.08 billion
into the country, followed by Hong
Kong (China), Japan and China.
Taiwan’s Pegavision Corporation's, a company specializing
in research, development, production, and sales of optical
products and medical equipment invest 200 million in their
factory in Vietnam. The factory will span 10 hectares in Lien
Ha Thai Industrial Park (IP), Thai Binh.
The ceremony was held on Mar 5th. Vietnam’s Deputy
Prime Minister - Mr. Tran Luu Quang and other important
delagates attended
Hanoi attracted a total of $914.4 million in foreign
investment during the first two months of 2024, including
27 newly-licensed projects with $869.8 million, 17 projects
receiving additional investment of $9.1 million, and 21
instances of foreign investors contributing capital or
purchasing shares, totalling $35.45 million.
NEWSLETTER MR
12 MARCH, 2024/Vol. 001
www.mrbeliever.com @themrbeliever
Thailand’s WHA Group plans
1,200-hectare industrial park in
Ba Ria-Vung Tau
The Southeast region to have
additional nearly 19,000 ha of
industrial land converted from
rubber plantations.
The Ministry of Construction proposes
that enterprises adjust real estate prices.
The proposal was shared by chairwoman and
managing director Jareeporn Jarukornsakul at a
meeting with provincial authorities on March 1.
If implemented, it will be the second-largest
project in Vung Tau, trailing behind the 1,500-ha
Chau Duc Industrial Park (IP).
According to the approved plan, Dong Nai will convert
6,760 hectares of rubber land into industrial land by
2025 and an additional 2,000 hectares from 2025 to
2030. Meanwhile, the areas of rubber land converted
into industrial zones by 2025 in Binh Duong, Binh Phuoc,
and Ba Ria-Vung Tau are expected to reach 3,084
hectares, 2,994 hectares, and 3,933 hectares,
respectively.
Therefore, a total of 18,771 hectares of rubber cultivation
land will be converted in these localities.
On March 11, the Ministry of Construction assessed that the
real estate market has experienced positive changes,
overcoming the most difficult period. However, the market
and real estate enterprises still face many challenges due to
the impact of unfavorable factors at home and abroad.
Businesses need to adjust their segments and real estate
prices to match the market and ensure liquidity, creating
capital flow to maintain operations and implement projects.
Vietnam Real Estate
THE VIETNAM BELIEVER
NEWSLETTER MR
12 MARCH, 2024/Vol. 001
www.mrbeliever.com @themrbeliever
THE VIETNAM BELIEVER
Vietnam Manufacturing
Industrial manufacturing sector shows
signs of brilliance in the early months
of 2024
Vietnam ranks as the
sixth largest furniture
producer in the world.
Samsung to invest additional $1 billion
per year in Vietnam
According the Ministry of Industry and Trade, in the first two
months of 2024, the national industrial production index (IIP)
increased by 5.7% compared to the same period last year.
Significantly, the manufacturing and processing industry
continued to play a leading role in industrial development,
with a 5.9% increase compared to the same period last
year.
Vietnam has achieved "impressive
growth" in its ranking in the global
furniture manufacturing industry,
rising from 13th place in 2014 to 6th
place last year, in terms of value
scale. Currently, the top 5 largest
furniture manufacturers are China,
the United States, Italy, Germany,
and India. Among them, China and
the United States have maintained
the first and second positions
throughout the past decade.
CSIL (Center for Industrial Studies)
The group aims to invest an additional $1 billion per year in
the country. The information was shared by Choi Joo Ho,
general director of Samsung Vietnam, at a meeting with
Deputy Prime Minister Tran Luu Quang on March 4.
NEWSLETTER MR
12 MARCH, 2024/Vol. 001
www.mrbeliever.com @themrbeliever
Import-Export, a bright spot in
the first two months of 2024.
Ho Chi Minh City reclaims the
number 1 spot in exports.
Exports and imports thrive, but
state revenue was not
correspondingly matched.
The total import-export turnover is estimated
at 113.96 billion USD, up 18.6% compared to the
same period last year. Specifically, exports
increased by 19.2% while imports rose by 18%,
resulting in a trade surplus of goods exports of
4.72 billion USD.
The United States remains Vietnam's largest
export market, reaching an estimated 17.4
billion USD, up 33.7% compared to the same
period last year. Following is Japan with an
estimated increase of 19.6%, the EU with 14.2%,
and China with 7.7% growth.
There were 11 categories of goods achieve
export turnover of over 1 billion USD.
After losing the top spot in exports in January
2024, Ho Chi Minh City regained its familiar
position in February.
By the end of February, Ho Chi Minh City's export
turnover reached $6.6 billion, up 16.6%
(equivalent to an additional $940 million)
compared to the same period last year.
Thái Nguyên is currently the second largest
province in terms of export turnover in Vietnam.
According to the General Department of Customs, as
of February 29, the entire industry contributed 56.420
trillion VND to the state budget, equivalent to 15% of
the estimated target for 2024, a decrease of 2.4%
compared to the same period in 2023.
Vietnam Export - Import
THE VIETNAM BELIEVER

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The Vietnam Believer_Newsletter_Vol.001_Mar12 2024

  • 1. NEWSLETTER MR 12 MARCH, 2024/Vol. 001 www.mrbeliever.com @themrbeliever THE VIETNAM BELIEVER Vietnam FDI Vietnam attracted $4.29 billion FDI in the first two months of 2024, up 38.6% year- on-year Thai Binh breaks ground on a $200 million factory Hanoi ranks first for foreign investment registered in 2024 so far Welcome to 'The Vietnam Believer' newsletter, your weekly summary source for notable updates on key sectors: FDI, Import-Export, Real Estate, Manufacturing, Energy, and Construction in Vietnam. Join me as we explore Vietnam’s development news and investment opportunities. Now let’s dive in! Among 48 countries and territories with investment in Vietnam during the January-February period, Singapore was the biggest investor as it poured more than $2.08 billion into the country, followed by Hong Kong (China), Japan and China. Taiwan’s Pegavision Corporation's, a company specializing in research, development, production, and sales of optical products and medical equipment invest 200 million in their factory in Vietnam. The factory will span 10 hectares in Lien Ha Thai Industrial Park (IP), Thai Binh. The ceremony was held on Mar 5th. Vietnam’s Deputy Prime Minister - Mr. Tran Luu Quang and other important delagates attended Hanoi attracted a total of $914.4 million in foreign investment during the first two months of 2024, including 27 newly-licensed projects with $869.8 million, 17 projects receiving additional investment of $9.1 million, and 21 instances of foreign investors contributing capital or purchasing shares, totalling $35.45 million.
  • 2. NEWSLETTER MR 12 MARCH, 2024/Vol. 001 www.mrbeliever.com @themrbeliever Thailand’s WHA Group plans 1,200-hectare industrial park in Ba Ria-Vung Tau The Southeast region to have additional nearly 19,000 ha of industrial land converted from rubber plantations. The Ministry of Construction proposes that enterprises adjust real estate prices. The proposal was shared by chairwoman and managing director Jareeporn Jarukornsakul at a meeting with provincial authorities on March 1. If implemented, it will be the second-largest project in Vung Tau, trailing behind the 1,500-ha Chau Duc Industrial Park (IP). According to the approved plan, Dong Nai will convert 6,760 hectares of rubber land into industrial land by 2025 and an additional 2,000 hectares from 2025 to 2030. Meanwhile, the areas of rubber land converted into industrial zones by 2025 in Binh Duong, Binh Phuoc, and Ba Ria-Vung Tau are expected to reach 3,084 hectares, 2,994 hectares, and 3,933 hectares, respectively. Therefore, a total of 18,771 hectares of rubber cultivation land will be converted in these localities. On March 11, the Ministry of Construction assessed that the real estate market has experienced positive changes, overcoming the most difficult period. However, the market and real estate enterprises still face many challenges due to the impact of unfavorable factors at home and abroad. Businesses need to adjust their segments and real estate prices to match the market and ensure liquidity, creating capital flow to maintain operations and implement projects. Vietnam Real Estate THE VIETNAM BELIEVER
  • 3. NEWSLETTER MR 12 MARCH, 2024/Vol. 001 www.mrbeliever.com @themrbeliever THE VIETNAM BELIEVER Vietnam Manufacturing Industrial manufacturing sector shows signs of brilliance in the early months of 2024 Vietnam ranks as the sixth largest furniture producer in the world. Samsung to invest additional $1 billion per year in Vietnam According the Ministry of Industry and Trade, in the first two months of 2024, the national industrial production index (IIP) increased by 5.7% compared to the same period last year. Significantly, the manufacturing and processing industry continued to play a leading role in industrial development, with a 5.9% increase compared to the same period last year. Vietnam has achieved "impressive growth" in its ranking in the global furniture manufacturing industry, rising from 13th place in 2014 to 6th place last year, in terms of value scale. Currently, the top 5 largest furniture manufacturers are China, the United States, Italy, Germany, and India. Among them, China and the United States have maintained the first and second positions throughout the past decade. CSIL (Center for Industrial Studies) The group aims to invest an additional $1 billion per year in the country. The information was shared by Choi Joo Ho, general director of Samsung Vietnam, at a meeting with Deputy Prime Minister Tran Luu Quang on March 4.
  • 4. NEWSLETTER MR 12 MARCH, 2024/Vol. 001 www.mrbeliever.com @themrbeliever Import-Export, a bright spot in the first two months of 2024. Ho Chi Minh City reclaims the number 1 spot in exports. Exports and imports thrive, but state revenue was not correspondingly matched. The total import-export turnover is estimated at 113.96 billion USD, up 18.6% compared to the same period last year. Specifically, exports increased by 19.2% while imports rose by 18%, resulting in a trade surplus of goods exports of 4.72 billion USD. The United States remains Vietnam's largest export market, reaching an estimated 17.4 billion USD, up 33.7% compared to the same period last year. Following is Japan with an estimated increase of 19.6%, the EU with 14.2%, and China with 7.7% growth. There were 11 categories of goods achieve export turnover of over 1 billion USD. After losing the top spot in exports in January 2024, Ho Chi Minh City regained its familiar position in February. By the end of February, Ho Chi Minh City's export turnover reached $6.6 billion, up 16.6% (equivalent to an additional $940 million) compared to the same period last year. Thái Nguyên is currently the second largest province in terms of export turnover in Vietnam. According to the General Department of Customs, as of February 29, the entire industry contributed 56.420 trillion VND to the state budget, equivalent to 15% of the estimated target for 2024, a decrease of 2.4% compared to the same period in 2023. Vietnam Export - Import THE VIETNAM BELIEVER