Chinese state administration for market supervision

In this year’s latest update to FTSE Russel’s Country Classification, which is released in September, the country remains in the watch list. "Progress has been slower than anticipated, in part due to Covid-19," the U.K. stock analytics provider said. The country has also yet to meet the settlement cycle criterion, which is currently rated as "restricted" due to the practice of conducting a pre-trading check to ensure funds are available. It said further that improvements to the process of registering new accounts are required, as is the introduction of an efficient mechanism to facilitate trading between non-domestic investors in securities that have reached, or are approaching, the foreign ownership limit. The State Securities Commission has however demonstrated renewed energy in seeking a workable solution that would remove the need for pre-funding, FTSE Russel said. "Finalization of the required roles and responsibilities, within the settlement model, that are aligned to … [Read more...] about Vietnam continues to wait on upgrade from frontier stock market

The index closed 1.7% points higher. It has dropped nearly 39 points this week. Trading on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 12% to VND13.96 trillion ($575.20 million). The VN30 basket, comprising the 30 largest capped stocks, saw 10 tickers gained. VIC of private conglomerate Vingroup rose 4.1%, followed by BCM of Becamex Investment and Industrial Development with a 3.4% increase. VRE of retail real estate arm Vincom Retail rose 2.6% and VPB of private lender VPBank closed 2.4% higher. Fourteen blue chips fell. CTG of state-owned lender VietinBank lost 2.6% and SSI of leading brokerage SSI Securities Corporation dropped 1.5%. Foreign investors were net sellers to the tune of VND537 billion, mainly selling CTG and VCI of Viet Capital Securities. The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.79% while the UPCoM-Index for the Unlisted Public Companies Market gained 0.38%. … [Read more...] about VN-Index steadies after stormy week

International tourists are becoming increasingly drawn to Ho Chi Minh City. (Photo: VNA) Hanoi (VNA) – International tourists are becoming increasingly drawn to Ho Chi Minh City where they can discover its vibrant blend of cultures through standout tours. Of the total 25 million tourist arrivals that the city hosted during January – August, there are nearly 3 million foreigners, up 105.2% year-on-year. Local tourist sites such as Ben Thanh Market , Sai Gon Central Post Office , and the War Remnants Museum have been favoured among the visitors. Zuzanna Henel and Klaudia Witkowska from Poland said they are impressed by the “Biet dong Sai Gon” (Sai Gon Special Task Force) tour developed by Vietluxtour, during which they got a better understanding of Vietnam’s war time as well as stories about Sai Gon heroes. Visiting HCM City for the fourth time in ten years, Allan Andersen from Demark said he wants to enjoy walks along the streets as well as local foods such as … [Read more...] about HCM City increasingly appealing to foreign visitors

Photo Le Toan Just a week after Vietnam and the US elevated their bilateral relations to a comprehensive strategic partnership, Prime Minister Pham Minh Chinh paid a working trip to the US to attend the 78th session of the UN General Assembly where he underlined Vietnam’s contributions and commitments to the UN’s activities, and met with UN Secretary-General António Guterres. In the US, he also met with US Vice President Kamala Harris, leaders of the US Congress, the national security advisor, and several members of the US cabinet. He also visited the New York Stock Exchange where he knocked the gavel to open a trading session. He underlined the need for both nations to focus on materialising the new cooperation framework into specific strategies, projects, and business cooperation. Noting priorities to be implemented, the PM said both nations must continue to prioritise resources for realising commitments in the joint leaders’ statement on elevating US-Vietnam relations. … [Read more...] about More consideration lent to US investment

Vietnam-China relations have made substantial progress over the past decade, with numerous positive outcomes that benefit both countries and contribute to regional and global peace, stability, and development. Hanoi supports comprehensive relations with Beijing and Guangdong, especially in fields of trade–investment, healthcare, science and technology, and urban development. Secretary of the Hanoi Party Committee Dinh Tien Dung (l) and Chairman of the Chinese People’s Political Consultative Conference Wang Huning (r). Photos: The Hanoi Times Secretary of the Hanoi Party Committee Dinh Tien Dung stressed the view during a meeting with the Chairman of the Chinese People’s Political Consultative Conference Wang Huning on September 28. At the meeting, Dung expressed his delight at visiting China and Beijing again , where he witnessed significant progress and accomplishments made by the Chinese people. He extended warm congratulations to the Chairman of the … [Read more...] about Hanoi supports comprehensive relations with Beijing, Guangdong

Testing at a larger scale will enable the country to better assess the Covid-19 situation. A senior Vietnamese health expert has said that Vietnam should take more tests in the community that will provide more basis for the assessment on the novel coronavirus situation in the country. Dr. Tran Dac Phu, senior advisor to the Vietnam Public Health Emergency Operations Center (PHEOC). Photo: VGP “The more tests are taken, the more likely infections are found,” Dr. Tran Dac Phu, senior advisor to the Vietnam Public Health Emergency Operations Center (PHEOC) was quoted by VnExpress as saying. He emphasized that the main concern at present is risk of community infection. “If Vietnam fails to manage control of this source, a danger of flare-ups would be likely as it has happened in many countries,” the expert said at a meeting of the National Steering on Covid-19 Prevention and Control. Explaining his point, Phu said Vietnam is now at the second stage of the … [Read more...] about Vietnam advised to continue mass coronavirus testing

Vietnam's agro-forestry-fishery exports generated $38.48 billion revenue in January-September, down 5.1 percent year on year, according to the Ministry of Agriculture and Rural Development. Agricultural exports accounted for over half of the total, at $19.54 billion, up 17 percent year on year. Key export earners were vegetables and fruits ($4.2 billion), rice ($3.66 billion), cashew nuts ($2.61 billion), and coffee ($3.16 billion). The average rice export price reached $553 per metric ton during the nine-month period, rising 14 percent. The price of coffee exports also picked up 10 percent to hit nearly $2,500 per metric ton. Asia was the major importer of Vietnam’s agro-forestry-fishery exports with $18.71 billion worth of products in January-September. It was followed by America with $8.73 billion and Europe with $4.17 billion. China, the U.S., and Japan remained the top three import markets of Vietnam’s agro-forestry-fishery products with exports to China accounting for … [Read more...] about Vietnam fetches over $38bn in agro-forestry-fishery exports in Jan-Sep

The top legislator made the appeal while addressing a program in Hanoi on September 28 to launch a nationwide campaign for fire prevention and control, and rescue operations. The event marked the 62nd traditional day of the firefighting and rescue police force (October 4, 1961-2023) and 22 years of the movement of all people participating in fire prevention and control (October 4, 2001-2023). On this occasion, the N.A. Chairman presented the title of “Hero of People’s Armed Forces” to some firefighting and rescue police units in Hanoi, the northern port city of Hai Phong, and Ho Chi Minh City. Minister of Public Security General To Lam also handed over the Prime Minister’s certificates of merit to 12 collectives and individuals with outstanding performance in this regard. Other collectives and individuals that have significantly contributed to firefighting and rescue operations were also honored at the program. Chairman Vuong Dinh Hue stressed that fire prevention and control … [Read more...] about Fire prevention and control – crucial, important task: top legislator

The event is being organised by the Vietnam National Entrepreneur Association in collaboration with the Vietnam National Administration of Tourism - the Ministry of Culture, Sports and Tourism and reputable businesses in the tourism industry. Dr. Dinh Viet Hoa, president of the Vietnam National Entrepreneur Association and head of the organising committee said, "This summit will introduce opportunities and solutions for comprehensive tourism development, along with innovative technologies and training to guide tourism business activities." “The event is a response to government policies that aim to support startups and develop small and medium-sized enterprises in the tourism ecosystem,” Hoa added. Dr. Vu Tien Loc, chairman of the Vietnam International Arbitration Centre and honorary president of the Vietnam National Entrepreneur Association, said, "Tourism plays an important role in the economic and social development of countries around the world. Resolution … [Read more...] about New tourism industry summit set for October

The new facility was established to meet rising global demand for instant coffee, particularly more premium freeze-dried instant coffee. The facility’s product offering is tailored to meet the preferences of consumers across established markets, such as Europe, and emerging markets in Asia. Members of LDC and Instanta’s global and regional senior management, as well aslocal government representatives, on hand to open the facility. According to Ben Clarkson, LDC’s Global Head of Coffee, the venture with Instanta supports global strategy to diversify through more value-added products, reflects ongoing commitment to Vietnam as a key market for LDC, and complements the existing global robusta green coffee business, expanding the product portfolio to meet customers’ needs. "Leveraging expertise in coffee sourcing in Vietnam and an extensive global network, combined with Instanta's leadership in the instant coffee business, ILD Coffee Vietnam is well positioned for … [Read more...] about $84 million freeze-dried instant coffee facility inagurated in Binh Duong