3 year profit and loss projection

Some branches are taking care of the registration fee for car buyers, but sales are still not being boosted, photo Le Toan In a document sent to the prime minister last week, the Vietnam Automobile Manufacturers Association (VAMA) along with other associations asked the government to extend the payment of special consumption tax and reduce the registration fee of domestically manufactured and assembled cars by a half this year, in order to stimulate demand. A VAMA representative said that the domestic car sales market is in a gloomy situation, and has been struggling like many other industries since 2020. “In order to stimulate market demand, we need strong enough policies like extending the payment of excise tax in 2023 and taking 50 per cent off the registration fee. These should be applied as soon as possible,” emphasised the representative. To combat the effects of the pandemic, the government chopped the registration fee in half for domestically manufactured and assembled … [Read more...] about Auto makers project bumpy years ahead

Many traders at An Dong Plaza in HCM City's District 5 have shut down their stalls after failing to reach an agreement with management on rent policies. As many as 90 percent of 2,700 stalls in the plaza have closed since Wednesday morning after a meeting with the management board which told them that their proposal to get free rent for 2023 and a reduction of 30 percent for next year would need further consideration. The board approved a discount of between 30-35 percent on rents this year but traders did not accept, saying that rents had already been raised by 35 percent previously. According to the traders, they used to have good businesses before the Covid-19 pandemic with thousands of customers coming to the mall every day. However, the number of customers had sharply fallen after the pandemic. "I've been paying a rent of nearly VND 44 million for two stalls since the latest contract was signed in 2016," she said. "This is a preferential … [Read more...] about Traders at HCM City’s biggest fashion market close due to losses

The ground-breaking ceremony for the project on December 19 (Photo: VNA) Vientiane (VNA) – Work on construction of a bauxite-alumina mining industrial complex , one of Vietnam’s largest projects in Lao, began in Dakcheung district, the southern Lao province of Sekong, on December 19. bauxite mine worth 1 billion USD has an annual capacity of 1 million tonnes. It is expected to operate for 30 years and could be extended to 50 years. Viet Phuong Group Phuong Minh Hue pledged to bring success to the project, contributing to socio-economic development in remote and disadvantaged areas of Sekong province and bilateral economic ties between the two nations, especially in the Vietnam – Laos – Cambodia development triangle. VNA … [Read more...] about Work starts on Vietnam’s biggest project in Lao province

In an interview with HEC Liege University Vietnam, he said: "How will you be able to know which data is useful and reliable in the world with so much data being generated? That's very challenging." With over 100 published academic articles and papers, Dr. Chen has also guided his students in conducting various Big Data projects for companies, showcasing his commitment to both research and teaching. "As you have too much data now, and not every data will be useful, you now have to learn how to clean the data. ‘Clean’ means filtering data, improving the quality of data, and making sure the data is useful. "Once you identify data by cleaning it up and making it useful, you can process the data and generate some new data, such as a business insight to help them make decisions." He gave examples of using Big data to help a cafeteria decide what kind of food to serve customers to maximize profit. He taught students how to use Big data to help a trucking company make recommendations … [Read more...] about With surfeit of data, businesses need to separate wheat from chaff

The absence in adjustment of power rates, tuition, and hospital fees contributed to an extremely low growth rate of GDP in 2020–2021 or an excessively high one in 2022, as well as relatively moderate inflation throughout 2020–2022. In the first two months of 2023, average core inflation climbed to 5.08 per cent, outpacing the average consumer price index (CPI) growth of 4.6 per cent. Dr. Vu Dinh Anh - Market Price Research Institute Ministry of Finance For 2023, public investment is seen as an economic boost. Investment capital generated from the state budget in February 2023 was anticipated to be almost $1.3 billion, an increase of 36.9 per cent compared to the same month last year. The expected amount of newly registered foreign direct investment up to February 20 was $1.76 billion, which was 2.8 times more than that in the same period in 2022. Slowdown in industrial development and a lack in investment capital are barriers that must be resolved to prevent a downturn … [Read more...] about Focused spending can set a solid base for positive outcome

The second annual report on foreign investment in Vietnam for 2022 released earlier in March by the Vietnam’s Association of Foreign Invested Enterprises noted that the United States has decreased corporate income tax from 25 to 21 per cent, while also reforming investment licensing procedures. In addition, the US government is applying higher taxes on imported products to increase the competitiveness of several industrial sectors, such as energy, automobiles, steel, and aluminium. Vietnam may need to come up with new tactics to retain foreign investors, photo Le Toan Besides that, the US is also promoting a “prosperous economic network” that connects allied countries to build supply chains of products such as semiconductors and 5G-related technology. In Europe, some countries such as Germany and Italy have also unveiled policies to limit investment in overseas markets, while France is encouraging its enterprises to expand their operation in high-value sectors, such as … [Read more...] about Gains feasible through large-scale FDI

As part of the draft national Power Development Plan VIII (PDP8), Vietnam plans to generate 7GW offshore wind capacity by 2030, but the lack of an official strategy is hindering progress. At a conference organised by the Central Economic Committee last week, Mark Hutchinson, chairman of the Southeast Asia Task Force, said, “7GW of offshore wind is crucial for Vietnam for its net-zero goal and for the country’s long-term energy security. Our message has been the same for years – a clearly defined route to the market is needed.” He said that offshore wind deployment was in its early stages and the deployment of the country’s 4GW of offshore wind was not driven by a direct auction mechanism but instead arranged at a time when clear policy measures were not in place. Thus, he called for accelerating a large-scale pilot or mechanism that covers a certain volume of the target, to bypass obstacles and fast track wind power. “There are now two main options: an accelerating mechanism such … [Read more...] about No time to waste in building the offshore wind industry

The National Assembly approved the 2023 budget of VND712 trillion ($30 billion), a significant increase from more than VND130 trillion ($5.5 billion) in 2022. The effective performance of public investment should be considered as a top political task for all levels and sectors in order to ensure a strong push for the socio-economic recovery of the country. The construction of Ring road No.2 section Vinh Tuy - Nga Tu Vong in Hanoi. Photo: Pham Hung Prime Minister Pham Minh Chinh stressed the view in Directive No. 08 on missions and tasks to promote public investment and economic development in 2023. This year, the Government set a target to disburse at least 95% of the public funds allocated for this year, which is more than VND676 trillion (US$28.47 billion). For the current year, the National Assembly has approved a budget of nearly VND712 trillion (US$30 billion), a significant increase of more than VND130 trillion (US$5.5 billion) over 2022 and VND250 … [Read more...] about Effective public investment as a top political mission: PM

A group of solar power ventures that did not make the 2021 feed-in tariff deadline remain idle and developers want fresh solutions Nearly 40 renewable power investors last week asked the prime minister to consider addressing pricing-related inadequacies in renewables development. The joint letter said that the impact of the pandemic and expiry of the country’s previous feed-in tariffs (FiTs) has resulted in 84 renewable power projects, with total capacity of some 4,600MW, falling behind schedule and failing to achieve commercial operation. Among these, 28 wind farms and six solar farms with the combined capacity of more than 2,000MW, which have cost an estimated $3.6 billion are eligible to connect to the national power grid, are still waiting for a suitable pricing mechanism. Six solar power ventures have been waiting for such a mechanism for over two years. The developers last week expressed concerns that they may go bankrupt as the government’s latest pricing band fix are … [Read more...] about Pricing structure not enough to clinch nation’s energy goals

The first wave of bullishness as China began abandoning its zero-Covid policy in December lifted airline stocks and online travel agencies like Trip.com Group Ltd. But with global airlines being slow to add capacity to connect China with the U.S. and Europe and Chinese travelers preferring trips closer to home, a new set of stocks is benefiting. Thailand has re-emerged as a favorite destination for Chinese travelers, and also for investors. "We were active earlier in terms of domestic travel, lodging space and airports, where we've done quite well," said Elaine Tse, portfolio manager at Allspring Global Investments. Tse said the firm has locked in some profits from those bets. "We are optimistic on a rebound in regional and international travel and continue to get exposure through airports and airplane leasing." Shares of airports, such as Airport of Bangkok and Shanghai International Airport have underperformed the big three Chinese airlines Air China, China Eastern and … [Read more...] about China travel rebound bets turn toward airports, away from airlines