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☆ Your latte could get even more expensive, thanks to a drought in Vietnam that's strangling coffee bean production
▼ + stars: | 2024-04-26 | by ( Meghan Morris | ) www.businessinsider.com time to read: +2 min

Robusta coffee futures hit a 16-year high because of a prolonged drought in Vietnam. The robusta coffee variety is the basis for both espresso and instant coffee. A long, El Niño-induced drought in Vietnam pushed up the price of robusta futures on Wednesday to the highest in at least 16 years, Bloomberg reported. This year's drought in Vietnam could continue the low-supply cycle, hurting next year's production. Vietnam is increasingly importing cheaper robusta from Brazil to satisfy soaring local demand from coffee drinkers, Bloomberg reported in March.

Persons: —, El Niño, Tran, Lan Anh Organizations: Service, Bloomberg, US Department of Agriculture, Co, International Coffee Organization Locations: Vietnam, Brazil, Asia, Europe, mocha

☆ Why Apple is betting big on India
▼ + stars: | 2024-04-22 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +26 min

I think one estimate put, at one point, I think China was producing something like 90% of the world's iPhones. So when we talk about, you know, Apple manufacturing elsewhere, it's going take a long time to significantly ramp up iPhone production elsewhere. And you know, opening a physical Apple store often for Apple is a sign of a big deal. But you know, Apple looking at India going, wow, we've only got 7% of market share there, we could grow huge amounts. And of course, as we know, with Apple, the hardware is the, you know, one side of the equation, but also, you know, Apple makes billions of dollars off of its services business, which includes things like its App Store fees, it's Apple Pay, Apple TV, all of those other products and services.

Persons: Tim Cook, Apple, it's, It's, Tom Chitty, we've, Arjun Kharpal, Arjun, they're, let's, hasn't, We've, they've, Apple's, that's, we're, There's, Narendra Modi, Arjun Kharpal It's, Tom Chitty Huawei, Kharpal Huawei, Tim Cook's, I've, haven't, He's, They've, Arjun Kharpal There's, Tom Chitty Oppo, Tom Chitty Xiaomi, Tom Chitty Samsung, You've, They're, Transsion, Tom, Tom Chitty I'm, Kharpal, Tom Chitty We'll Organizations: Apple, Bloomberg, CNBC, U.S, Arjun Kharpal It's Samsung, Samsung, China, Apple Watch, Huawei, IDC Locations: India, Foxconn, China, beyondthevalley@cnbc.com, Covid, Zhengzhou, Vietnam, Asia, Thailand, Indonesia, Southeast Asia, Mumbai, New Delhi, Xiaomi, Europe, U.S, Arjun Kharpal Vietnam, Hanoi , Vietnam, Hanoi, Taiwan, Beijing, America, Africa, The

☆ Vietnam mounts ‘unprecedented’ $24 billion rescue for bank engulfed in giant fraud, documents show
▼ + stars: | 2024-04-17 | by ( ) www.cnbc.com time to read: +5 min

Foreign reserves were around $100 billion at the end of the year, according to the central bank. The central bank did not reply to requests for comment about the rescue effort. The finance ministry referred a question to the central bank. The central bank placed SCB under its supervision to stem a run on the bank sparked by the October 2022 arrest of real estate tycoon Truong My Lan. That was up from 478 trillion dong at the end of October, according to the SCB document that was sent to the central bank.

Persons: Truong My, Truong, Lan Organizations: AFP, Getty, Stock Commercial Bank, Reuters, ASEAN, Research, SCB, State Bank of, Bank Locations: Ho Chi Minh City, Vietnam, Saigon, State Bank of Vietnam's, People's

☆ Apple CEO Tim Cook visits Vietnam — one of the iPhone giant's most important manufacturing hubs
▼ + stars: | 2024-04-15 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Cook will meet with Apple users, developers and content creators during the two-day visit, local media reported. In December, the Nikkei reported Apple was moving some of its key iPad engineering resources to Vietnam. Apple CEO Tim Cook (C) walks near Hoan Kiem lake in downtown Hanoi during his visit to Vietnam on April 15, 2024. India has also emerged as a key hub for iPhone manufacturing. Cook's visit to Vietnam comes after 61 environmental and human rights groups called on Apple to oppose the country's detention of climate activists.

Persons: Tim Cook, Cook, Bryan Ma Organizations: Apple, International Data Corporation, IDC, Samsung, Nikkei, Apple Watch, Getty, CNBC, Bloomberg Locations: Hanoi, Vietnam, U.S, China, Cupertino, Hoan, Giang Huy, Afp, India, iPhones

☆ Tycoon’s death penalty in $12.5 billion fraud case highlights Vietnam’s corruption crisis
▼ + stars: | 2024-04-12 | by ( Heather Chen | ) edition.cnn.com time to read: +12 min

The scale of the fraud was said to be equivalent to roughly 3% of Vietnam’s economy. Though widely considered ceremonial, the presidency is one of the top three positions in Vietnam’s political hierarchy after the CPV’s Secretary General, currently Nguyen Phu Trong. In fact, the International Monetary Fund expects Vietnam’s economy to grow by 5.8% this year, compared to 4.6% for China. Their fate remains unclear, given the highly secretive nature of Vietnam’s political system. But Vietnamese political experts said a permanent appointment would not end the instability.

Persons: Truong My Lan, Van Thinh, siphoned, “, Eric Chu, Vietnam’s, Vo Van, Trong, Thuong, Vo Van Thuong, Richard A, Brooks, Nguyen Xuan Phuc, Pham Binh, Le Hong Hiep, Yusof, ” Hiep, ”, Thu, General Trong, Xi Jinping, ” Zachary Abuza, Salt Bae, Lam, ” Abuza, Nguyen Phu Trong, Evelyn Hockstein, Abuza, Bui Thanh Soh, ” Soh, Vo, Xuan, Thuong’s, Le Hong Organizations: CNN, Van Thinh Phat Holdings Group, Stock Commercial Bank, Reuters, SCB, Express, Communist Party, Institute, Crisis Group, National War College, Vietnamese Communist Party, Public Security, Vietnam, International Monetary Fund, Companies, Apple, Intel, Vietnam's Communist Party General, Yusof, Brookings Institution, “, Crisis Locations: Vietnam, Saigon, People’s, Ho Chi Minh City, Hong Kong, Duc, Singapore, Asia, China, Washington, “, London, Turkish, Hanoi, Bangkok

☆ Vietnam wants to take China's place as a new factory of the world — but a $12 billion financial fraud case is getting in the way
▼ + stars: | 2024-04-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Vietnamese real-estate tycoon Truong My Lan was sentenced to death for her role in a $12.5 billion fraud case. Lan's fraud case is part of Communist Party Secretary Nguyen Phu Trong's corruption crackdown. Lan, the chairwoman of real-estate developer Van Thinh Phat Group, was arrested in 2022 over the fraud case. AdvertisementThe high-profile fraud case has scandalized the country and is raising questions about the one-party state. For context on the scale of the Vietnam fraud case, consider the 1MDB case, which rocked Malaysia and the world when it started to unravel in 2015.

Persons: Truong, Lan, Communist Party Secretary Nguyen Phu, —, Van Thinh, Zachary Abuza, Trang Bui, Bui Organizations: Communist Party Secretary, Service, Prosecutors, Vietnamese Communist Party, National War College, Washington DC, Bloomberg, Cushman, Nikkei Locations: Vietnam, China, Malaysia, Malaysian, Hanoi, Washington, Wakefield

☆ Vietnamese property tycoon sentenced to death in country’s biggest ever financial fraud, state media reports
▼ + stars: | 2024-04-11 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Vietnamese property tycoon Truong My Lan (C) looks on at a court in Ho Chi Minh city on April 11, 2024. The Vietnamese property tycoon Truong My Lan was sentenced to death on Thursday for her involvement in the country's biggest ever financial fraud case, state media outlet Thanh Nien reported. She was sentenced to death for the embezzlement charges and to 20 years in prison for each of the other two accusations, according to state media. Around $12.3 billion were allegedly funnelled to Van Thinh Phat while other funds were used privately. Alongside Lan, more than 80 other people including central bank officials have been charged in the case for damaging SCB, state media reported.

Persons: Truong, Lan, Van Thinh, Van Thinh Phat, Vietnam's Organizations: Thanh, Van Thinh Phat Holdings Group, Stock Commercial Bank, Reuters, CNBC, Communist Locations: Ho Chi Minh, Saigon

☆ A Vietnamese real-estate exec embezzled so much money it equalled 3% of the country's GDP. Her punishment is death.
▼ + stars: | 2024-04-11 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +1 min

Real estate tycoon Truong My Lan was sentenced to death by a court in Vietnam. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA Vietnamese real estate tycoon was sentenced to death on Thursday by a Ho Chi Minh City court over her role in a multibillion-dollar financial fraud case. Truong My Lan, the chairwoman of real estate developer Van Thinh Phat Group, was arrested in 2022. The fraud trial, which began on March 5, was Vietnam's largest ever, and among Southeast Asia's most significant corruption scandals.

Persons: Truong, Lan, Prosecutors, —, Van Thinh Organizations: Service Locations: Vietnam, Chi Minh City

☆ Searing heat is back across Southeast Asia and it’s not going away anytime soon
▼ + stars: | 2024-04-10 | by ( Heather Chen | ) edition.cnn.com time to read: +6 min

CNN —The death of a toddler from extreme heat highlighted the risk of climate-related illnesses across Malaysia. And in the Philippines, hundreds of schools suspended classes after daily temperatures soared past 107 degrees Fahrenheit (42 degrees Celsius). Sweltering heat is back in Southeast Asia, one of the regions most vulnerable to climate change. But alongside these natural variations, the world continues to blast through climate records, with deadly heat waves becoming the norm. A resident attempts to pump underground water from a dried reservoir in Vietnam's central Ninh Thuan province during a heat wave and drought on April 6, 2024.

Persons: climatologist Maximiliano Herrera, Herrera, “, ” Herrera, ”, El Niño, Stringer, Adly Zahari, Ahmad Zahid Hamidi, Aidil Iman Aidid, fasted Organizations: CNN, Getty, El, heatstroke, Education, Philippines Locations: Malaysia, Vietnam, Philippines, Southeast Asia, Thailand, Bangkok, Rice, Ninh Thuan, AFP, Asia, Pahang, Kelantan, Sabah, Borneo, Kuala Lumpur, Singapore, Manila

☆ Vietnam aims to start work on high-speed rail lines to China by 2030
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: +1 min

Vietnam's Prime Minister Pham Minh Chinh (R) bids farewell to China's President Xi Jinping after their meeting at the Government Office in Hanoi on Dec. 13, 2023. Vietnam aims to start building two high-speed railway lines linking its capital Hanoi with China before 2030, the Ministry of Planning and Investment said, another sign of a recent warming of ties between the two Communist-ruled neighbors. China is Vietnam's largest trading partner and a vital source of imports for its manufacturing sector. The two countries are already connected via a system of highways and two railway lines that are old and need upgrading on the Vietnam side. One of the planned high-speed lines would run from Vietnam's port cities of Haiphong and Quang Ninh through Hanoi to Lao Cai province, which borders China's Yunan province, the ministry said in a statement released late on Tuesday.

Persons: Pham Minh Chinh, Xi Jinping, Lao Cai Organizations: Vietnam's, Government, Ministry of Planning, Investment Locations: Hanoi, Vietnam, China, Vietnam's, Haiphong, Quang Ninh, Lao, China's Yunan, Lang Son, China's Guangxi

☆ U.S. loses its spot to China as Southeast Asia's most favored ally, survey finds
▼ + stars: | 2024-04-03 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

This is the first time Beijing has edged past Washington since 2020 when the annual survey first posed the question. China's aggressive behavior in the South China Sea is the Philippines' (90.2%) and Vietnam's (72.5%) top concern, the region's two frontline South China Sea claimant states. The Philippines President Ferdinand Marcos Jr. told Bloomberg last month that his government's claims on certain parts of the South China sea should not be viewed as provoking China. Vietnam has also asserted sovereignty over islands in the South China Sea though Beijing has brushed aside those claims. ASEAN should build up its resilience and unity to fend off pressures from the two major powers, the U.S. and China, nearly half of the survey respondents said.

Persons: ISEAS – Yusof, Ferdinand Marcos Jr, Kenddrick Chan Organizations: ASEAN Studies, Jan, Association of Southeast Asian Nations, ASEAN, China, Bloomberg, Philippines, U.S, LSE, London School of Economics, Political Science Locations: China, U.S, Washington, Beijing, Singapore, ISEAS, Indonesia . China, Japan, South China, Philippines, Vietnam, Southeast Asia

☆ India wants to become the top manufacturing alternative to China. But first it needs to beat Vietnam
▼ + stars: | 2024-04-02 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +6 min

The Biden administration has encouraged American companies to move electronics and technology manufacturing operations out of China and into friendlier countries, particularly Vietnam and India in Asia-Pacific. Vietnam's head startIndia and Vietnam are attractive manufacturing alternatives for foreign investors and companies, due in part to low labor costs. Import taxes remain highOne hurdle for India's manufacturing hub ambitions is the country's 10% import duty for information and communication technologies. India's import taxes were intended to protect domestic manufacturers, but lowering those duties will be part of the government's efforts to attract foreign firms to manufacture goods within the country. For example, India in January lowered import taxes for certain metal and plastic parts used in manufacturing mobile phones from 15% to 10%.

Persons: Biden, Mukesh Aghi, Samir Kapadia, Narendra Modi's, Aghi, Nari Viswanathan, Viswanathan, Tim Cook, Narendra Modi, Andy Ho, Modi, Kapadia, Pankaj Mahindroo, VinaCapital's Ho, Ho Organizations: Hindustan Times, Getty, Republicans, U.S ., India Strategic Partnership, India Index, Vogel Group, U.S, White House, Washington, Financial Times, Apple, Indian, Google, Dixon Technologies, Samsung, Motorola, India Cellular and Electronics Association, CNBC, corporates Locations: Noida, India, Asia, China, Vietnam, The U.S, U.S, United States, Singapore

☆ 'Quiet luxury' was once all about fashion — but now it describes how the top 1% travel too
▼ + stars: | 2024-03-22 | by ( Helen Iatrou | Rob Goss | ) www.cnbc.com time to read: +4 min

Big-ticket travel experiences like those are indicative of the "quiet luxury" trend which began in the world of fashion, with timeless lines trumping brand-blaring outfits. Less limelight, more connectionJaclyn Sienna India, the founder of the ultra-luxury travel company Sienna Charles, said she considers herself a longtime quiet luxury disciple. Monaco has long been a playground for the elite, but wealthy travelers are increasingly opting for more remote locations, say luxury travel advisors. But another important aspect of the quiet luxury movement concerns security. For them, quiet luxury travel is about exclusivity and privacy, she said.

Persons: Jaclyn Sienna India, Sienna Charles, Vietnam's, Alexander Spatari, It's, Sean De Burca, George W, Bush, Erica, Erica Jackowitz, Jackowitz, Sienna India, Thomas Barwick, Roger Federer, Erica's Erica Jackowitz, Anastasiia Organizations: Monaco, Bank, Getty, Digitalvision, Henley, Partners Locations: Antarctica, Svalbard, Paris, Monaco, Chi Minh City, India, Brazil, Ethiopia, New York City, Africa

☆ Australia and Vietnam upgrade relations, to begin talks on critical minerals
▼ + stars: | 2024-03-07 | by ( ) www.cnbc.com time to read: +2 min

Vietnam Prime Minister Pham Minh Chinh and his wife Tran (R) stand with Australian Prime Minister Anthony Albanese (2nd L) and his fiancee Jodie Haydon (L) during an official welcoming ceremony at Parliament House in Canberra on March 7, 2024. "Elevating our ties to a comprehensive strategic partnership today places Australia and Vietnam among each other's significant partners," Albanese told a news conference in Canberra. Albanese and Chinh on Thursday also witnessed the exchanges of 12 cooperation documents on areas including energy, minerals, agriculture, banking and finance, according to the Vietnamese government. Australia is a major producer of critical minerals that are used in everything from smartphones to automobiles, while Vietnam has some of the largest untapped deposits in the world. "An annual ministerial dialogue on energy and minerals will drive cooperation in our energy and resources sectors, including critical minerals supply chains," the statement said.

Persons: Pham Minh Chinh, Tran, Anthony Albanese, Jodie Haydon, Albanese, Chinh Organizations: Vietnam, Australian, House, Communist, Mutual, Vietnam News Agency Locations: Canberra, Vietnam, China, Australia

☆ Vietnam Lists Overseas Political Groups as 'Terrorist Organisations'
▼ + stars: | 2024-03-06 | by ( March | At A.M. | ) www.usnews.com time to read: 1 min

HANOI (Reuters) - Vietnam's government on Wednesday listed two political groups operating in the United States as "terrorist organisations" and accused them of orchestrating attacks and trying to create their own states in the Southeast Asian country's Central Highlands. The groups include North Carolina-headquartered Montagnard Support Group Inc (MSGI) and Montagnard Stand for Justice (MSFJ), which was established in Thailand, the Ministry of Public Security said in a statement. Both operate in the United States, it said.

Organizations: Justice, Ministry of Public Security Locations: HANOI, United States, Central Highlands, North Carolina, Thailand

☆ Inside Nestle's instant coffee business
▼ + stars: | 2024-03-02 | by ( Shawn Baldwin | Jeniece Pettitt | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside Nestle's instant coffee businessIn Vietnam's Central Highlands growers eagerly await the annual coffee harvest in October when coffee cherries turn deep red in color. Vietnam is the world's second largest exporter of coffee behind Brazil which produces about 40% of the globe's coffee supply. Fluctuating coffee prices and high labor costs have caused financial difficulties for farmers in recent years. To keep up with demand Nescafé works with over 100,000 farmers and buys more than 13 million bags of green coffee annually.

Locations: Highlands, Vietnam, Brazil

☆ Are these the most beautiful coffee shops in the world?
▼ + stars: | 2024-02-17 | by ( David Tran | ) edition.cnn.com time to read: +12 min

The Budapest Café is one of many eye-catching businesses featured in “Designing Coffee: New Coffee Places and Branding,” a coffee table book — no pun intended — that puts the world’s most photogenic, eccentric cafés and roasters on display. Its "bright, playful design and color palette transform a former dental office into a bustling and vibrant bakery café," Kingston writes in "Designing Coffee." In an increasingly competitive coffee industry, coffee shop owners are putting thoughts into how their spaces are designed. Across its ambience and menu, the Genovese Coffee House in Sydney offers Australian consumers an "espresso" ticket to Mediterranean café culture. Anson Smart/Genovese Coffee House/Courtesy gestaltenElsewhere, Genovese Coffee House (pictured above) in Sydney, Australia drew inspiration from Italian coffee culture.

Persons: James Morgan, they’re, Wes Anderson, Lani Kingston, Kingston, Mikhail Loskutov, Yuh Nguyen, Luca Rinaldi, Jamie Yelo, Urbain, Jin Weiqi, Marco Pinarelli, Julius, Damir Otegen, Karin Pasterer, Hernan Taboada, Carlos Artalejo, Xavier Alexander, Alexander, ”, “, ” Alexander, ” Kingston, David Dworkind, ” “, ’ ”, Fritz, K Kim, Angela Wijaya, Fritz Coffee, Ben Hamilton, Anson Smart, “ It’s Organizations: Budapest Cafe, CNN, Portland State University, Melrose, Rupertinum, Salzburg's Museum of Modern Art, Kingston, Fritz Coffee Company, Coffee House, Genovese Coffee, Coffee Locations: Budapest, Chengdu, China, Odessa, Ukraine, Hanoi, Vietnam, Milan, Italy, Taipei, Taiwan, Montréal, Canada, Beijing, Ho Chi Minh City, Central Highlands, Kyiv, Ukraine's, Hong Kong, Forme, Beirut, Lebanon, Almaty, Kazakhstan, Salzburg, Austria, 220GRAD, Buenos Aires, Argentina, Caffettiera, Montreal, Asia, Seoul, South Korea, Belfast, Los Angeles, California, Sydney, Australia

☆ Momentum of electric vehicle sales will continue, says Vietnam's VinFast
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMomentum of electric vehicle sales will continue, says Vietnam's VinFastVinFast Chairwoman Le Thi Thu Thuy says the world is "still moving" from internal combustion engine vehicles to electric vehicles.

Persons: Vietnam's VinFast, Le

☆ There are many women in leadership positions here, says Vietnam's VinFast
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are many women in leadership positions here, says Vietnam's VinFastVinFast Chairwoman Le Thi Thu Thuy discusses how she navigates the male-dominated electric vehicle industry.

Persons: Vietnam's VinFast, Le

☆ Vietnam's economy is in a 'pretty good position' this year, investment management firm says
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVietnam's economy is in a 'pretty good position' this year, investment management firm saysAndy Ho, chief investment officer of VinaCapital Group, says interest rates are "rather low" and gross domestic product continues to grow.

Persons: Andy Ho Organizations: VinaCapital

☆ Vietnam to Hold Arms Fair in December as Its Seeks to Diversify Supplies
▼ + stars: | 2024-01-25 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

HANOI (Reuters) - Vietnam's defence ministry said on Friday it will organise an international arms fair in December, as it seeks to diversify its arms supplies and expand cooperation in arms production and exports. Vietnam held its first international arms fair in December 2022, which attracted 174 exhibitors from 30 countries, including all large arms-making nations except China. The ministry on Friday said "several deals were reached" at that arms fair, without giving further details. The Southeast Asian country has an annual military expenditure of above 2% of its gross domestic product, according to the ministry. Vietnam is producing among other weapons small weapons, ammunitions, drones and armoured vehicles.

Persons: Khanh Vu, Francesco Guarascio, Michael Perry Locations: HANOI, Gia Lam, Hanoi, China, Vietnam

DAVOS, Switzerland (AP) — Business and political elites descended on the Swiss Alpine snows of Davos to suss out “rebuilding trust” in a splintering world. If there’s any takeaway from the World Economic Forum's annual meeting — boldly touting that theme — it’s that we still have a long way to go. The idea is getting people together, and big announcements are often just a byproduct — not the aim. “It’s unrealistic to think that Davos — or any meeting, anywhere in the world — in one meeting can rebuild trust when it’s fragmented on so many dimensions," said Rich Lesser, chairman of Boston Consulting Group. But thousands of conversations between the social, private and public sectors help create "a starting point for rebuilding trust,” he said.

Persons: —, Rich Lesser, ”, bigwigs, Bill Gates, Agnès Callamard, craziness, Long, Volodymyr Zelenskyy, ” Zelenskyy, ” Pham Minh Chinh, vociferously, Benjamin Netanyahu, Antony Blinken, wasn't, Antonio Guterres, Masha Macpherson, David Keyton, Courtney Bonnell, Kelvin Chan Organizations: —, Boston Consulting, Nature Energy, “ Cooperation, Security, Amnesty, European Union, U.S, Israeli, ” Locations: DAVOS, Switzerland, Swiss, Davos, suss, Ukraine, U.S, India, South Africa, UKRAINE, Kyiv, Europe, United States, Britain, Israel, Gaza, Palestinian, Saudi Arabia, London

☆ Vietnam Communist Party Chief Attends Parliament Session After Health Concerns
▼ + stars: | 2024-01-14 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

HANOI (Reuters) - The head of Vietnam's Communist Party, Nguyen Phu Trong, on Monday attended a session of the National Assembly after concerns were raised over the health of the country's most powerful leader. Diplomats had raised concerns over his health and several officials could not confirm the status of his health. Trong has been at the helm of the ruling Communist Party since 2011 and holds the top job in Vietnam's one-party political system. The National Assembly is convening to discuss banking and land reforms. Shortly after the chair's opening speech, Trong was seen walking out of the session with the help of aides, according to a Reuters witness.

Persons: Nguyen Phu Trong, Trong, Joko Widodo, Sonexay Siphandone, Kanupriya Kapoor Organizations: Vietnam's Communist Party, Monday, National, Diplomats, Communist Party, National Assembly, Reuters Locations: HANOI, Laos, Vietnam's

On a trip to the sprawling factory in the port city of Haiphong in northern Vietnam, Widodo also sat behind the wheel of a VinFast electric car before wrapping up his three-day visit to Vietnam. The Vietnamese EV maker has said it will invest $1.2 billion in Indonesia and build a factory with the potential to make up to 50,000 vehicles every year. Green SM, an EV taxi operator that is mostly owned by VinFast’s founder, also announced an investment plan of $900 million in Indonesia. VinFast's plans to expand in Indonesia are part of their global goal of selling EVs in 50 markets worldwide. It is exporting EVs to the U.S. and also building a $4 billion EV factory in North Carolina, where production is slated to begin this year.

Persons: Joko Widodo, Widodo, GoTo, Tokopedia Tbk, Pham Nhat Vuong Organizations: Green SM, EV, VinFast’s, Group, AP Locations: HANOI, Vietnam, Indonesia, Haiphong, Vietnamese, Indonesian, North Carolina, India, Vingroup, Ukraine

☆ Vietnamese companies eye the U.S. IPO market amid a lull in Chinese listings
▼ + stars: | 2023-12-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

While not strictly an IPO, the listing was soon followed by Vietnamese tech unicorn VNG's filing to list on the Nasdaq. As local companies grow, "they are outgrowing the ability of those markets to provide the capital that they need," said Drew Bernstein, co-chairman of accounting firm MarcumAsia. Since the fallout over Didi in the summer of 2021, regulation and a tepid U.S. IPO market have stalled most Chinese listing plans. She said given the success of Southeast Asian ride-hailing company Grab , more Vietnamese companies are starting to look beyond the domestic market to regional business. George Chan, global IPO leader at EY, expects "a lot" of companies from Southeast Asia will reach the IPO stage in the next 12 to 18 months, and might also consider the Hong Kong exchange.

Persons: Scott Mlyn, VinFast, Johan Annell, VNG, Drew Bernstein, It's, Bernstein, who'd he'd, Didi, Gary Dvorchak, Blueshirt, Nguyen Nguyen, Vu Van, ELSA, Van, George Chan Organizations: New York Auto Show, CNBC BEIJING, U.S, Spade, Nasdaq, ARC Group, China -, Renaissance Capital, Investor, CNBC, World Bank, Southeast Asia — Locations: Asia, U.S, Vietnam, Beijing, Cayman Islands, Malaysia, China, China - U.S, Thailand, Indonesia, Singapore, Southeast Asia, Hong Kong

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