Benefit calendar price

Phung Duc Tien, deputy minister of Agriculture and Rural Development Amid increasing pork prices, the Ministry of Agriculture and Rural Development has been implementing solutions to remove difficulties and promote production. Therefore, the livestock industry is expected to ensure supply from now until the end of this year. Phung Duc Tien, deputy minister of Agriculture and Rural Development, spoke to local media about the solutions to meet food demand and curb CPI in the last months of 2022. Is the food supply sufficient from now until the Lunar New Year? In 2021, Viet Nam's meat production reached 669 million tonnes. By the end of July 2022, the livestock industry saw an increase of 4.8 per cent in pig heads, 1.6 per cent in heads of poultry; and 2.6 per cent of cow heads. Meanwhile, the buffalo herd in 2021 decreased by 2.5 per cent but so far, it has only reduced by 1.1 per cent. Thus, the industry is expected to produce over seven million tonnes of meat, 18.4 … [Read more...] about Livestock sector promotes production to ensure supply and price stability

Viet Nam has the cheapest valuations and second highest EPS growth in Southeast Asia, as this table shows. — Source VinaCapital “Viet Nam’s economy is even stronger than we had expected at the beginning of the year, but that strength is not reflected by higher stock prices due to the [US’s] aggressive rate hikes and the recent regulatory crackdown in Viet Nam,” Michael Kokalari, chief economist at VinaCapital, has said in a report. “That said, we expect over 20 per cent [company earnings] growth in 2022, which should support a recovery in the VN-Index by the end of 2022.” July economic statistics have not only reinforced VinaCapital’s forecast of 7.5 per cent GDP growth in 2022 but also make it look like the economy would grow by a stunning 10 per cent year-on-year in the current quarter, he said. “Our expectation that Viet Nam’s economy will grow by at least 7.5 per cent this year (and by at least 10 per cent in Q3) leads us to believe that the consensus forecast for 16 per … [Read more...] about Stock market to benefit from unexpectedly strong domestic growth: VinaCapital

Various kinds of mooncakes with wholesale prices hovering around VND2,000-4,000 (US$0.09-0.17) apiece have been imported in large volumes from China into Vietnam ahead of the Mid-Autumn Festival. The ingredients in mooncakes can easily go bad if they are not well preserved, posing a high health risk to consumers, according to experts. Meanwhile, designated agencies find it hard to control the quality of these products. Super cheap mooncakes As the Mid-Autumn Festival approaches, the mooncake market is always bullish. This year, some kinds of sticky rice mooncakes originating from China are being offered on social networks at only VND2,000-5,000 ($0.09-0.21) apiece. A mooncake seller named Hong said the wholesale prices of these cakes were only VND2,000-4,000 ($0.09-0.17) each and their retail price was VND5,000 ($0.21). Her products are available for any request. "No one offers lower prices. With only over VND100,000 [$4.3], customers can buy tens of mooncakes with … [Read more...] about Dirt-cheap Chinese mooncake imports swarm Vietnamese market

Illustrative image Benefits and worries Referring to the increasing value of the US dollar, Mr. Nguyen Chi Trung, Chairman of the Board of Directors of the Gia Dinh Group, said that big exporters such as Gia Dinh shoes will certainly benefit as they will have more revenue to reduce the pressure of input costs which have been increasing continuously over the last months. Mr. Trung cited that the previous exchange rate was about VND22,600 for one US dollar and when an enterprise exported US$1 million worth, it could earn about VND22.6 billion. Now, if the exchange rate is anchored at VND23,900 for one US dollar than the figure will be about VND23.9 billion. It is true that there will be an immediate benefit to be seen by many export groups. However, according to Mr. Nguyen Xuan Hong, Chairman of the Ho Chi Minh City Textile and Garment Embroidery Association, in general when the dollar appreciates it will be seen as favorable for many exporters, including textile and garment … [Read more...] about Rising inflation causing concern for export businesses

Thanh Cong Textile Garment Investment Trading JSC exported over one-third of its products to the United States in 2021. However, the company started to face challenges following the US’ blanket ban on all Xinjiang cotton. Last year, President Joe Biden signed into law the Uyghur Forced Labor Prevention Act. Vietnam’s cotton imports reach up to one million tonnes each year, Photo: Shutterstock Tran Nhu Tung, chairman of the company, said that the company has adopted regulations this year related to this act. Accordingly, buyers have to be responsible for export orders to the US which source Chinese cotton materials. Thanh Cong secures many large orders from the US. In 2022, the company sets a target to generate $179 million in revenues and $10.87 million in profit, up 120 per cent and 188 per cent respectively against last year. Tung noted that yarn exports are the main driving force for Thanh Cong. “There is a rapidly growing demand for yarn imports in the global … [Read more...] about Demand for cotton forces adjustments

A customer at an HDBank transaction office. Viet Nam’s policy rate is expected to rise 50 basis points to 4.5 per cent by end-2023. — VNA/VNS Photo Capital account restrictions largely insulate interest rates in Viet Nam from global monetary tightening and the country’s policy rate is expected to rise 50 basis points to 4.5 per cent by end-2023, according to Fitch Ratings. Under a report on the impact of rising interest rates on Asia-Pacific (APAC) banks released this week, Fitch said annual credit targeting remains a centrepiece of the State Bank of Vietnam's (SBV) monetary policy framework, and the refinancing rate is not a primary policy lever. Moreover, strong foreign investment inflows underpin the dong's resilience, which has depreciated by only 2 per cent year-to-date by end-July 2022, making it the second-best performing currency in APAC behind only the Hong Kong dollar. According to Fitch, Viet Nam’s rates are driven chiefly by economic activity and inflation. … [Read more...] about Monetary stance points to only mildly higher interest rates in Viet Nam: Fitch Ratings

A customer at an HDBank transaction office. Vietnam’s policy rate is expected to rise 50 basis points to 4.5 per cent by end-2023. (Photo: VNA) Hanoi (VNS/VNA) - Capital account restrictions largely insulate interest rates in Vietnam from global monetary tightening and the country’s policy rate is expected to increase 50 basis points to 4.5% by end-2023, according to Fitch Ratings. Under a report on the impact of rising interest rates on Asia-Pacific (APAC) banks released this week, Fitch said annual credit targeting remains a centrepiece of the State Bank of Vietnam's (SBV) monetary policy framework, and the refinancing rate is not a primary policy lever. Moreover, strong foreign investment inflows underpin the dong's resilience, which has depreciated by only 2% year-to-date by end-July 2022, making it the second-best performing currency in APAC behind only the Hong Kong dollar. According to Fitch, Vietnam’s rates are driven chiefly by economic activity and inflation. … [Read more...] about Monetary stance points to only mildly higher interest rates in VN: Fitch Ratings

Thousands of apartments and land lots for the resettlement of residents in Hanoi and Ho Chi Minh City have been left deserted for years, causing huge waste. While many laborers are in dire need of accommodations, solutions to these abandoned resettlement apartments and the resettlement in the future to prevent similar cases are needed. Abandonment and untidiness According to the Hanoi Department of Construction, the capital city is now home to nearly 18,000 resettlement apartments. Most of them have been sold and allocated for projects. Only over 400 units remain unused. However, in reality, thousands of these apartments are presently empty. Some projects with hundreds of apartments each are complete but their wastewater treatment and fire prevention and control systems have yet to be approved. Most of these projects are now degrading and facing a shortage of facilities, such as playgrounds for children, sport facilities, and parks. More than 3,700 … [Read more...] about Thousands of resettlement apartments abandoned in Hanoi, Ho Chi Minh City

Prime Minister Pham Minh Chinh chairs the meeting on August 10 (Photo: SGGP) This State Steering Committee is formed to help the Government, the Prime Minister in the implementation of national key transport projects of Ho Chi Minh Highway, the East part of the North-South Expressway, Ben Luc – Long Thanh Expressway, Khanh Hoa – Buon Ma Thuot Expressway, Bien Hoa – Vung Tau Expressway, Chau Doc – Can Tho – Soc Trang Expressway, Ring Road No.4 in Hanoi, Ring Road No.3 in HCMC, the North-South high-speed rail, Long Thanh International Airport, and other necessary traffic facilities projects. The effective implementation of these projects would contribute to completing the three strategic breakthroughs set forth in the Resolution of the 13 th Congress of the Central Party Committee so that localities can receive sufficient economic boost. The Prime Minister informed that the total investment capital for all of the above projects reaches over VND500 trillion (US$21,4 billion), not … [Read more...] about Resolutions on Hanoi’s Ring Road No.4, HCMC’s Ring Road No.3 to be issued

In addition to the intrinsic strength of the Vietnamese dong (VND), the country’s healthy macro conditions, and large forex reserves, the report by Maybank Securities predicts that adverse external factors will ease in the coming months. Thus, pressure on Foreign Exchange (FX) will retreat, easing a big worry among investors in the stock market. Moreover, the negative FX impact on the earnings of some sectors in the first half of 2022 – such as logistics, steel, and utilities – is likely to reverse in the second half of the year. Following the resilience in the first half and given the low base in the third and fourth quarters last year, it is believed that the earnings growth of listed companies will remain robust in most sectors in H2. This has been gradually reflected in the market’s recovery from late July and should continue in August. Analysts at Maybank Securities pointed out that HSX-listed companies only posted around 1.7 per cent on-year earnings growth on average in … [Read more...] about Maybank Securities predicts robust growth for H2 2022