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[15th – 24th August 2020] Vietnam Weekly Feature News

Aug 25, 2020 04:00:03 AM

A quick review at Vietnam Weekly Feature News

1. Apple waiting for improved workers living conditions before moving iPhone production to Vietnam

Apple is considering the possibility of bringing iPhone manufacturing to Vietnam, a report claims, after the Cupertino company visited a factory owned by assembly partner Luxshare to check the conditions of the facility.
-Vietnam Insider

2. Foxconn ready to move production out of China if necessary

Foxconn has told companies worried about the trade war between Beijing and Washington that it can move electronics production for the US market out of China at short notice, adding that production will begin at its new Wisconsin plant by the end of next year.
-Forbes Vietnam

3. Japanese companies consider expanding operation in Vietnam

A survey recently carried out by the Japan External Trade Organization (JETRO) indicates that 41% of Japanese companies are considering expanding their operations in Vietnam over the next three years, a 5.5% rise from a year earlier.
-Vietnam Insider

4. Japanese retail brands expanding in Vietnam

After the entry of well-known Japanese names in the Vietnamese market, such as Aeon, Takashimaya, Family Mart, MiniStop, 7-Eleven, the domestic retail market has recently seen a massive number of other Japanese retail brands that are currently expanding in the country in spite of present difficulties.
-Vietnam Insider

5. Luxshare to boost employee numbers to begin iPhone manufacturing in Vietnam

Luxshare factories were found somewhat lacking in human resources capacity by Apple to begin iPhone manufacturing in Vietnam.
-Vietnam Investment Review

6. Textile, footwear companies feel confident

Armed with experience from coping with the first wave of the COVID-19 epidemic, many textile and footwear enterprises are quietly confident they can alter their plans as required and find new markets to cope with the second.
-Vietnam Investment Review

7. E-commerce pie in Vietnam: too large for minority, too small for majority

Vietnam e-commerce market was valued at USD 10.08 billion in 2019 with the average yearly growth rate 25%. The market is dominated by the retail industry, accounting for 26%. The key industries such as finance, health care and real estate account for only 4%, according to VE-CWB.
Although there is more room for many players to enter this huge e-commerce market in Vietnam, many had to leave this battlefield. Leflair’s surprise closure with the accusation of owing USD 2million in liabilities was among those startups believed in the potential of the market.
-Vietnam Insider

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