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A transaction at Military Bank (MBB). MBB rose 6.8 per cent last week. — Photo MBB Shares are predicted to continue their short-term uptrend thanks to the return of cash flow this week. The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) had risen 2.5 per cent last week. An average of 917.3 million shares were traded on the southern exchange during each session last week, worth 15.6 trillion (US$664.3 million). With the positive movement of banking and large-cap groups, the market surpassed 1,080 points and closed with a good gain in the last session of last week. Liquidity also continued to increase, showing that investors' trading sentiment was more positive although profit-taking still presented in some sectors at the end of the session, said Viet Dragon Securities Co (VDSC). “With this development, investors can expect the cash flow to continue to support and help the market gradually move to higher price ranges in the near future.” “It is expected that … [Read more...] about Shares to keep uptrend this week

Access to this huge amount of customer data is a golden opportunity for banks to promote digital services and products, especially online lending. — Photo baodautu.vn Through a series of newly-issued regulations and access to the national population database, banks are planning to expand their online money-lending services. Deputy Governor of the State Bank of Viet Nam (SBV) Pham Tien Dung said accessing the national population database will help banks to check and authenticate new customer information more easily. Commercial banks will promote lending services on their electronic platforms based on this database. The draft amending the Law on Credit Institutions has many regulations specifying banking services via electronic devices. Besides that, several provisions supplemented by Civil Law and the Law on Electronic Transactions are necessary to complete the legal framework for online lending. Online lending, mostly small loans, has been implemented by many banks for a … [Read more...] about Banks to promote online lending through national population database access

In the first five months of the year, Vietnam welcomed nearly 4.6 million international visitors, 13 times the amount on-year and equal to 63 per cent compared to 2019. The ten largest markets were South Korea, Mainland China, the US, Taiwan, Japan, Thailand, Malaysia, Cambodia, Australia, and Singapore, providing a combined total of 3.3 million arrivals, accounting for 71 per cent of the total number of visitors. Before 2019, China was Vietnam's largest international tourist market, accounting for about 30 per cent of the total number of visitors. That year, Vietnam welcomed 18 million international visitors, of which China contributed 5.8 million, followed by visitors from Russia, the UK, and France. After the Covid-19 pandemic, South Korea has since risen to be the largest tourist market with 1.3 million arrivals, followed by China in second. Several European markets have also dropped out of the top ten, replaced by the likes of Cambodia and Singapore. According to … [Read more...] about Vietnam’s Top 10 international tourist markets

Transactions at Vietcombank. — Photo courtesy of the bank The State Bank of Viet Nam (SBV) just allowed Vietcombank to raise its charter capital from VND47 trillion (US$2 billion) to VND55 trillion ($2.3 billion) by issuing shares to pay dividends from the remaining profits of 2019 and 2020. Previously, the bank’s 2022 Annual General Meeting of Shareholders approved the issuance of 856.5 million dividend stocks at a rate of 18.1 per cent. Once the issuance is completed, its charter capital will increase by nearly VND8.6 trillion to more than VND55.89 trillion, thereby surpassing Vietinbank and BIDV to become the second largest bank, after VPbank. Vietcombank said that the mobilised capital will be spent on expanding the business scale to meet the economy’s requirements, and investing in improving management and operation plans. The bank also plans to issue a maximum of nearly 2.8 billion shares to pay dividends from the remaining profit of 2021 and the remaining profit … [Read more...] about Vietcombank permitted to raise capital to $2.3 billion

Party General Secretary Nguyen Phu Trong (R) receives Australian Prime Minister Anthony Albanese . (Photo: VNA) Sydney (VNA) – Dr. Nguyen Hong Hai , a researcher at the Centre for Policy Futures under the University of Queensland in Australia, has noted that the freshly-concluded visit to Vietnam by Australian Prime Minister Anthony Albanese was a success, as reflected through the agreements reached by the two sides on both bilateral and multilateral issues. Albanese paid an official visit to Vietnam from June 3-4 at the invitation of his Vietnamese counterpart Pham Minh Chinh. According to Hai, the two sides shared the view on positive developments of the bilateral diplomatic ties over the past 50 years, and the bilateral strategic partnership in the three pillars of politics, national security and defence; economy, trade and investment; and education and training. They said ample room remains for cooperation in economy, trade and investment. Therefore, … [Read more...] about Australian PM’s Vietnam visit a success: researcher

Illustrative image (Photo: laodong.vn) Hanoi (VNA) - Although the aquaculture industry have been facing many challenges, it continues to receive support from the Government, Director in charge of communications of the Vietnam Association of Seafood Exporters and Producers ( VASEP ) Le Hang told Lao dong newspaper. According to Hang, the Prime Minister has demanded the State Bank of Vietnam effectively manage credit operations to ensure the suitable provision of credit capital, and continue to reduce interest rates to support businesses, especially those in aquatic export . The bank has been required to implement supportive and preferential policies, including proposing a credit package worth 10,000 billion VND (over 425.4 million USD) to support businesses operating in forestry and aquatic production and processing industries. Credit programmes should be prioritised for the fisheries sector, towards creating favourable conditions for businesses involved in the … [Read more...] about Government support helps aquaculture industry weather difficulties

About 90-95 per cent of Cambodia's pepper output has been exported to Viet Nam. — Photo nld.com.vn Viet Nam's pepper exports are not challenged by Cambodia being issued a licence to export its pepper to China directly, according to experts. The Viet Nam Trade Office in Cambodia quoted Khmer Times sources saying that Cambodian pepper would be available in China directly after the General Administration of Customs of China (GACC) approved Cambodia’s export proposal. Accordingly, the GACC approved seven packaging factories and 28 growing facilities for pepper exports in Cambodia. Le Viet Anh, head of the Viet Nam Pepper Association's office, Cambodia exporting pepper directly to China was not a challenge for Viet Nam's pepper exports immediately because the pepper volume exported from Cambodia to China was not much. “About 90-95 per cent of Cambodia's pepper output have been exported to Viet Nam, then processors in Viet Nam have re-exported the volume to other countries, … [Read more...] about Viet Nam does not face challenge from Cambodia pepper exports to China: experts

Illustrative photo (Photo: Breeding Magazine) Hanoi (VNA) – Vietnam spent 2.04 billion USD to import animal feed and raw material s for the production of this kind of commodity in the first five months of this year, according to the Ministry of Agriculture and Rural Development (MARD). The figure marks a year-on-year decrease of 2%. Animal feed and raw materials from Argentina to Vietnam accounted for 25.8% of the total market shares, followed by India (18.3%) and the US (15.2%). Compared to the same period last year, the imports from the three countries increased by 3.9%, 130%, and 28.3%, respectively. MARD recommends that to reduce reliance on imported animal feed, farmers in localities should make use of available domestic raw materials, produce animal feed by themselves to reduce cost, and find sources of raw materials for animal feed production. Ministries and agencies were asked to tighten control over the import of meat and by-products, support importers … [Read more...] about Vietnam spends over 2 billion USD on animal feed, material imports in 5 months

Asia’s increased borrowing in recent decades has augmented the region’s exposure to rising interest rates and heightened market volatility, said the International Monetary Fund (IMF). According to the IMF’s latest report on May 25, over 18 per cent of Vietnamese enterprises were found to have an interest coverage ratio (ICR) below one, indicating a high risk of default as of June 2022. Additionally, 18.32 per cent of companies had an ICR between 1-4, making them vulnerable to increased borrowing costs, while 63.36 per cent had an ICR of four, signalling a good debt repayment capacity. The report attributes the heightened risks to the rising cost of borrowing, as central banks tighten monetary policies and increase interest rates to combat inflation. Despite maintaining growth rates, companies face significant pressure due to higher borrowing costs, reducing their ability to repay debts. As of mid-2022, 17 per cent of Asia’s corporate debt was held by firms with interest … [Read more...] about IMF highlights rising debt risks for Asian companies

The fifth plenary session of the 15th National Assembly has discussed and approved a number of important draft bills, including three new amendments to regulations that have significant impacts on the tourism industry in Vietnam. These policies are expected to boost the recovery and development of the tourism sector. Martin Koerner - Chairman EuroCham Vietnam’s Tourism and Hospitality Sector Committee The first law is to extend the visa exemption duration from the current 15 days to 45 days for citizens of countries that currently can travel to Vietnam visa exempt, including France, Germany, Italy, Spain, the UK, Japan, South Korea, Norway, Finland, Denmark, and Sweden. This law aims to attract more tourists from these key markets and encourage them to stay longer and spend more here. The second law is to expand the list of countries eligible for e-visa from 46 to 80, including markets such as India, Brazil, Mexico, and Argentina. The e-visa allows visitors to apply … [Read more...] about The future of tourism in Vietnam new visa policies and beyond