Bargain hunt best profits

Nguyen Hoang Trung, CEO of one of only two delivery startups in Vietnam, told VnExpress that Loship suffers "very little" loss. Last year its revenues increased by 500% thanks to business optimization with 250,000 locations and more than five million customers. It expects to turn profitable this year. Losing money is the norm in the food delivery and ride-hailing industry. As of 2021, Grab Vietnam had chalked up cumulative losses of VND4.365 trillion (US$186 million). Gojek is also VND4 trillion in the red. Both incur huge selling expenses running ino trillions of dong. Nguyen Hoang Trung, CEO of Loship. Photo by VnExpress/Quynh Nhu This year the industry faces pressure from rising fuel prices. Trung said all other apps are also affected by Regarding the increase in gasoline price, this but "honestly not too much". When the Russia-Ukraine war took place, it was a nightmare in the beginning. But so far, the gas price has not changed too much and it’s … [Read more...] about Vietnamese delivery app on the brink of turning profitable

Hai An Transport and Stevedoring Joint Stock Company's after-tax profits were up 90% from 2021 at VND1.050 trillion (US$44.49 million); Petrovietnam Transportation Corp's (PVTrans) was up 39% to VND1.16 trillion; and Vietnam Petroleum Transport's (Vipco) rose by 25 times to VND246 billion. Other logistics firms too reported excellent numbers. Gemadept’s after-tax profits surged by 60% to VND1.15 trillion, its second highest since 2000 when it first publicized financial statements. Vosco’s profits decreased by 0.4% to VND490 billion, but were still the second highest since it listed on the stock market. Vinalines said profits fell by 23% to VND2.5 trillion, but were still second only to 2021. According to data from Freightos, one of the world’s largest freight booking platforms, the cost of sending a container from Asia to the U.S. fell by more than 80% late last year. In the third quarter of 2021 it had been at a record $20,000 per 40-foot container. But thanks to the … [Read more...] about Big shipping firms report record profits

Vietnamese striker Nguyen Tien Linh has received only one point from voters of the Best Footballer in Asia Award 2022, finishing 29th in the list of 31 rated players altogether. Vietnamese striker Nguyen Tien Linh plays for Binh Duong FC The results announced by Titan Sport of China show Tien Linh stayed in the same position alongside Japanese midfielder Akihiro Lenaga and Saudi Arabian goalkeeper Mohammed Alowais. 2022 is the second consecutive year that Tien Linh has been nominated for the Best Footballer in Asia Award. In 2021, the striker of the Binh Duong FC got two points, ranking 22nd alongside five other players. This year, he was highly appreciated by organizers for his impressive performance in the freshly concluded AFF Cup 2022. Together with Thailand’s Teerasil Dangda, the 26-year-old Vietnamese striker scored most goals at AFF Cup 2022. Elsewhere, Son Heung-min of the Republic of Korea won the title of the Best Footballer in Asia 2022 after … [Read more...] about Striker Tien Linh placed 29th at Asia’s Best Footballer Award 2022

Vietnam's tourism suppliers have won top awards in the categories of unique homestay, community tourism associated with local economic development, qualified public toilets, and best ASEAN spa services. The ASEAN Tourism Awards 2023 ceremony was held on February 5 in Indonesia as part of the ongoing ASEAN Tourism Forum 2023 under the theme "ASEAN: A Journey to Wonderful Destinations". A foreign traveler enjoys buying fruits in Cai Be Floating Market. Photo: Mekong Smiles As a result, two groups of host families, one in the Mekong Delta province of Vinh Long and the other in the northwestern province of Lao Cai, received the ASEAN Homestay Award. The first group consists of six establishments: Ut Thuy, Sau Thanh, Nam Thanh, Nam Thanh, Ba Linh, Ngoc Phuong, and Ngoc Sang, in An Binh District, Vinh Long Province, about 140 km from Ho Chi Minh City. The locality is famous for its islets of fruit orchards. The most prominent tourist attractions are the Cai Be … [Read more...] about ASEAN Tourism Awards 2023 honor 14 businesses of Vietnam

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

Present at the event were Mr. Nguyen Trong Nghia, Head of the Party Central Committee’s Commission for Information and Education; composer Do Hong Quan, Chairman of the Vietnam Union of Literature and Arts Associations (VULAA); and poet Nguyen Quang Thieu, Chairman of the Vietnam Writers' Association. Speaking at the event, Mr. Nguyen Trong Nghia underlined that a number of poets have stood side by side with the whole people in firmly protecting the national sovereignty over sea and islands, natural disaster response, and COVID-19 pandemic prevention and control. He affirmed that many poets have tried their best to discover different aspects of daily life and social issues to bring their best and meaningful works to local readers. He hoped that Vietnamese poets’ works would reach out beyond the national boundary to match with world literature. Each literary work should be an “ambassador” in the field of Vietnamese literature and arts in the current period; and should be a voice … [Read more...] about 2023 Vietnam Poetry Day opened in Hanoi

Farmers in Tien Giang Province are selling the red-fleshed dragon fruit at VND38,000 ($1.62) per kilogram and white-fleshed for VND32,000, up 10% from before the Lunar New Year holiday and triple from the same time last year. Nguyen Thi Hanh, a farmer, told VnExpress that she sold five tons at VND32,000 per kilogram and earned a profit of VND110 million. In Binh Thuan Province, prices of white-fleshed dragon fruit have also tripled to VND25,000. Industry insiders say that the resumption of border trade with China after three years of restrictions has helped boost prices. China accounts for around 90% of Vietnam’s dragon fruit exports. Binh Thuan’s Department of Agriculture and Rural Development said that as trucks can pass the border easily without having to wait for days as they did during the pandemic, dragon fruit is being sent to China quickly, and farmers are set to report large profits as the main harvest season approaches. "We are working to connect farmers with … [Read more...] about Dragon fruit prices triple

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

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