Army and airforce exchange

Young people follow the path of the older generations to contribute to the glorious history and heroic traditions of the Vietnamese People's Army and the Vietnamese Public Security forces. Thirty metropolitan and suburban districts in Hanoi today [February 6] held ceremonies to see off 3,500 young people who were called up for military duty. All newly-conscripted soldiers were required to go through a medical checkup. Major General Bui Trong Quynh, deputy commander of the Hanoi Capital High Command, said all the young men joining the army this year meet the health and educational requirements. Military service is compulsory for Vietnamese between the ages of 18 and 25 (expanded to 27 for those who apply for a deferment to pursue higher studies). Chairman of the Hanoi People’s Committee Tran Sy Thanh attends the farewell ceremony for young soldiers in Dong Anh District. Attending a ceremony in Dong Anh District, Chairman of the Hanoi People's Committee … [Read more...] about Hanoi youths take great pride for military service

Inflationary pressure for Vietnam's economy in 2023 is high and comes from many factors, he said in an interview with the Vietnam News Agency (VNA). The demand-pull and cost-push inflation will put pressure on the country's efforts to control inflation amid surging demand and strengthening of the U.S. dollar which yields increased import prices. Demand for petrol and electricity – the two important commodities for production and consumption – will increase in 2023. The domestic electricity price has been kept unchanged for the past few years, while the price of coal and gas used in the production of electricity has increased, he said, noting that thermal and gas power account for a large proportion of the total generated electricity. Therefore, it is forecasted that the Government may raise the price of electricity this year. A hike in electricity prices will put pressure on inflation by increasing production costs and consumer spending, and at the same time reducing economic … [Read more...] about Vietnam faces inflationary pressure in 2023: expert

The index closed 12.14 points higher after losing 0.44 points on Friday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 10.97% to VND9.61 trillion ($409.28 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 22 tickers gain. PLX of fuel distributor Petrolimex led with a 4% rise. It was followed by BID of state-owned lender BIDV with a 3.8% increase. POW of electricity producer Petrovietnam Power Corporation went up 3.3%, and VCB of state-owned lender Vietcombank gained 3.2%. Six blue chips fell. VIB of Vietnam International Commercial Bank lost 2.7%, and MWG of electronics retail chain Mobile World was down 1.4%. Foreign investors were net buyers to the tune of VND392.20 billion, mainly buying STB of Ho Chi Minh City-based lender Sacombank and SSI of leading brokerage SSI Securities Corporation. The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 0.38% while the UPCoM-Index at the Unlisted Public … [Read more...] about Last-minute trading boosts VN-Index up

Nguyen Minh Tuan, Founder of TOPI The risk of a world economic recession is reflected in the average GDP growth forecast of only 1.6-2.2 per cent, of which the US accounts for 0.5-1 per cent, the EU -0.5-0.2 per cent, and China 4-4.5 per cent. After plenty of efforts by central banks inflation has cooled down, but is still high. The common global inflation forecast in 2023 is 6.5-6.6 per cent, which is in line with forecasts from the International Monetary Fund and the Organisation for Economic Co-operation and Development. Optimistic banks assessed that in the second quarter of 2023, inflation would decrease, and those with more pessimistic views forecasted that the decline would take place by the end of 2023. Of course, along with inflation, tight monetary policy will affect world economic growth. Accordingly, there are three scenarios for macroeconomic forecast in 2023. One is a negative scenario: persistent inflation and deep recession, with the following assumptions of … [Read more...] about Optimism abounds for more positive scenarios in macroeconomic forecasts

Nguyen Tri Hieu, Economist This had shown in financial markets: the stock market lost more than 30 per cent of its value; the corporate bond market and real estate market became frozen; the gold market fluctuated strongly; and banks scaled up interest rates to attract depositors. The State Bank of Vietnam (SBV) then had to expand the credit room many times for banks in 2022 and by the end of the year had raised the credit ceiling to 15.5-16 per cent. In 2023, investors do expect the stock market to rally, and in fact the market did recover slightly before dropping again, showing that Vietnam’s financial market is still unstable. In this context, the bond market is still frozen. The Ministry of Finance is considering amending regulations on the corporate bond market to restore development. Meanwhile, the war between Russia and Ukraine continues to escalate and is likely to widen tensions. The world economy has been plagued with high inflation in many countries. In the US, … [Read more...] about Gauging efficient investment channels for the year

Dr. Pham Nguyen Anh Huy - Founder, RMIT FinTech-Crypto Hub Many crypto projects, especially GameFi, move-to-earn, the metaverse, and Web3, were launched in such an environment which helped boost national innovation and drive the digital economy. However, the lack of a regulatory framework has led to several issues, such as the lack of investor protection if they get scammed; the difficulty of tracing crypto-related fraudulent and criminal activities such as money laundering; a volatile business environment; and the inability of the tax authority to collect taxes from crypto-related activities. Eventually, these issues may dampen market confidence and make Vietnam less attractive, especially when the hype is over. Given the get-rich-quick mindset of most Vietnamese crypto investors coupled with the lack of a regulatory framework, it is not surprising that Vietnam is one of the most active crypto trading hubs in the world, ranking second in peer-to-peer exchange trade volume … [Read more...] about Regulatory framework needed to boost Vietnam’s crypto scene

Illustrative image (Source: vneconomy.vn) Singapore (VNA) – The upcoming visit to Singapore by Prime Minister Pham Minh Chinh is expected to open up important orientations for the bilateral ties, especially in digital technology and green transition, an expert has said. PM Chinh, his spouse, and a high-ranking delegation of Vietnam will pay an official visit to Singapore from February 8 to 10. In an interview granted to the Vietnam News Agency, Associate Professor Vu Minh Khuong from the Lee Kuan Yew School of Public Policy said the visit holds great significance. It takes place in the context of the two countries getting out of the COVID-19 pandemic with the hope for stronger growth, he explained, noting that their cooperation opportunities abound. The world is experiencing complex changes, and this prompts the two countries to conduct more regular and in-depth exchanges to reach common perceptions in order to sail through the challenges and tighten their … [Read more...] about PM Chinh’s Singapore visit to pave way for digital technology, green transition cooperation: expert

Vietnamese Prime Minister Pham Minh Chinh, his spouse, and a high-ranking Vietnamese delegation will pay official visits to Singapore and Brunei Darussalam from February 8 to 11, the Ministry of Foreign Affairs announced on Sunday. The visits will be made at the invitations of Singaporean Prime Minister Lee Hsien Loong and Brunei Darussalam Sultan Haji Hassanal Bolkiah, respectively. This will be PM Chinh’s first visits to these two countries after assuming his prime minister position, and a visit by a Vietnamese prime minister to Singapore after five years and to Brunei Darussalam after 15 years. The visit to Singapore will be paid on the occasion of the 50th anniversary of the diplomatic relations between the two countries and the 10th anniversary of their strategic partnership. The two sides had many high-ranking delegation exchange activities last year, including Vietnamese State President Nguyen Xuan Phuc’s visit to Singapore in February and Singaporean President Halimah … [Read more...] about Vietnamese PM to pay official visits to Singapore, Brunei

A man looks at stock indices on a computer screen (Photo: VNA) Hanoi (VNS/VNA) - Brokerage revenue fell at most securities companies amid the general market contraction as the total trading size of the whole market shrank. Statistics from HoSE showed that 10 securities companies with the largest brokerage value on HoSE in the fourth quarter of 2022 include VPS Securities JSC (VPS), SSI Securities Inc (SSI), VNDirect Securities Co (VNDirect), Mirae Asset Securities (MAS), Ho Chi Minh City Securities Corporation (HSC), Vietcombank Securities Co (VCSC), MB Securities Co (MBS), Techcombank Securities Co (TCBS), KIS Vietnam Securities Corporation (KIS), and Viet Dragon Securities Co (VDSC). VPS Securities JSC (VPS) continued to maintain the No 1 position in terms of stock brokerage market share with 14.81% in the last quarter of 2022. That was the 8th consecutive quarter VPS reached the No 1 market share position on the HCM Stock Exchange ( HoSE ), although this figure … [Read more...] about Brokerage revenue falls at most securities companies amid market contraction

As of the Kanagawa Festival in Hanoi, its latest holding last year has left good imprints on the locals and Vietnamese people. Hanoi will continue tightening relationships with Japanese localities including Kanagawa, focusing on the development of economic and cultural exchange, educational cooperation, and manpower training, among others. Deputy Chairman of Hanoi People’s Committee Nguyen Doan Toan stressed the idea when receiving Governor of Kanagawa prefecture Yuji Kuroiwa on November 11. The meeting also saw the attendance of Umeda Kunio, Ambassador of Japan to Vietnam. At the meeting, the two sides discussed the organization of the Kanagawa Festival in Hanoi this year and the orientations of cooperation between the Vietnamese and Japanese localities in the coming time. According to Hanoi’s deput mayor, the city is currently on a very strong development momentum, to which many Japan – Vietnam cooperation projects have contributed a great deal. Deputy … [Read more...] about Hanoi looks to tighten cooperation with Japanese locality