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Illustrative image (Photo: Dai bieu nhan dan newspaper) Hanoi (VNA) - The State Treasury raised 162,952 billion VND (nearly 6.94 billion USD) worth of Government bonds via auctions on the Hanoi Stock Exchange (HNX) in the first five months of 2023, up 188.4% year-on-year. The amount was equal to 48.4% of the issuance plan in the second quarter, and 40.74% of the plan set for 2023. In May alone, as many as 23,269 billion VND, or 75.06% of the total G-bonds on offer, was mobilised via 17 auctions on the HNX. Most of the total volume offered in the month was 15-year and 10-year bonds, accounting for 43.4% and 32.1%, respectively. Interest rates continued their downward trend in all terms, with a decrease of 27-35 basic points compared to the last session of April. In the last auction of May, the interest rates for 5-, 10-, 15-, 20-, and 30-year terms were 2.4%,  2.95%, 3.05%, 3.19% and 3.4%, respectively. On the secondary market, the State Treasury … [Read more...] about Nearly 6.94 billion USD raised through Gov’t bond auctions in five months

Vietnam Airlines, Vietnam’s national flag carrier, was named one of the world’s top 25 airlines for 2023 by Australia-based AirlineRatings.com, an aviation safety and product review group. The carrier sits at number 20 in the rankings, above Turkish Airlines, Hawaiian Airlines, KLM, Alaska Airlines, and United Airlines. The first five positions on the list respectively went to Air New Zealand, Qatar Airways, Etihad Airways, Korean Air, and Singapore Airlines. To prepare its annual round-up, AirlineRatings.com considered major safety and government audits, as well as looked at airline fleet age, passenger reviews, profitability, investment rating, product and services, and staff relations. To make it to the top twenty-five, airlines must achieve a seven-star safety rating and demonstrate leadership in innovation for passenger comfort, according to AirlineRatings.com. “We are focused on leadership and airlines that innovate to make a real difference to the passenger … [Read more...] about Vietnam Airlines among world’s top carriers for 2023

Eighty more Vietnamese forced laborers recently rescued from a Philippine casino have arrived home safely, sending the tally to 140 as of Thursday, according to the Vietnamese Ministry of Foreign Affairs. The ministry’s Consular Department and the Vietnamese Embassy in the Philippines are working with their Philippine counterparts to repatriate the remaining 297 Vietnamese citizens, said Nguyen Duc Thang, deputy spokesperson of the ministry at a press briefing on Thursday afternoon. Thang affirmed that Vietnam promotes legal, safe, and orderly migration while adopting preventive measures against illegal migration and human trafficking. The ministry also teamed up with localities and competent forces in Vietnam to raise public awareness about job scams. Earlier this month, the Philippine authorities rescued more than 1,000 people, including 437 Vietnamese nationals, from forced labor at an establishment owned by the Clark Sun Valley Hub group in Pampanga Province, near Manila. … [Read more...] about Vietnam repatriates 80 more forced laborers from Philippines

Sun Taxi Joint Stock Company on Thursday entered into a deal with Vietnamese carmaker VinFast to order 3,000 VF 5 Plus electric cars to offer taxi services using electric vehicles (EVs), aside from the former’s current fleet of fuel-powered units. The move is part of Sun Taxi’s strategy on green transition, business expansion, and service quality enhancement, thereby promoting the switch to green transport and supporting Vietnam’s ambitious goal of achieving net zero emissions by 2050. Sun Taxi plans to first launch electric taxi services in some central and Central Highlands provinces and cities in the country such as Quang Binh, Hue, Quang Ngai, Binh Dinh, Phu Yen, Gia Lai, and Kon Tum. By 2025, the company will offer the services using all 3,000 VinFast EVs across the country. Nguyen Duy Hung, board chairman of Sun Taxi, said EV adoption is an ongoing global trend, of which Vietnamese businesses should not stand outside. The taxi service provider, which has many … [Read more...] about Sun Taxi inks deal with VinFast for 3,000 EVs

The exchange rate in the interbank market has been stable in May, hovering in a tight range around the State Bank of Vietnam's (SBV) reference dollar buying price. In the global market, the greenback is forecast to continue to weaken. Accordingly, the US Federal Reserve raised the base rate by a quarter of a percentage point in the early May meeting, but many forecasts believe that this might be the last base rate hike before it trends sideways, and that it is likely that the Fed will start cutting the rate in the second half of this year. Accordingly, the SBV reduced the diverse regulatory rate by 0.5 per cent from May 25. Commenting on the impact of the rate change, Nguyen Hung, CEO of tech-driven TPBank, said that although it might go counter to the world trends, there were positive signs supporting the move, such as the Fed or several central banks might stop adjusting interest rates, and the local economy had acquired enough resources to control the situation. … [Read more...] about Softer exchange rate loom in H2

Vietnam aims to increase the proportion of renewable electricity production, including hydropower, to 30-39 per cent of total commercial electricity. Consequently, when investing, it is crucial to evaluate energy storage requirements and forecast prices. According to a number of analysts, the research model by the Vietnam Initiative for Energy Transition (VIET) for forecasting energy storage demand and electricity pricing, which was announced on the afternoon of May 31, has wide applicability. The research conducted by VIET on energy storage systems yielded three significant findings. To accelerate the energy transition in a reliable and sustainable fashion, it is necessary to first increase the capacity of hydroelectric power sources and electricity storage. Secondly, to achieve the ambitious objective of the Just Energy Transition Partnership (JETP), it is advised to have at least 6GW of conserved hydroelectricity or other electricity storage systems to guarantee energy … [Read more...] about 40 per cent renewable energy target for Vietnam’s commercial power consumption

Vietnam Space Week will be held in Hậu Giang and Bình Định provinces and HCM City from June 5 to 9. Organised by the two provinces, Thủ Đức City in HCM City and the HCM City Computer Association (HCA) with support from the US National Aeronautics and Space Administration, it will make Việt Nam the first Southeast Asian country to host such a NASA event. Visitors will have the chance to meet with US astronauts and experience space exploration and STEM (science, technology, engineering, and maths) educational activities. Michael Koetsier, vice president of client management at Skyrora UK Ltd, an orbital launch vehicle manufacturer focused on providing clients with low cost access to space for a range of satellites, said astronaut Mike Baker and flight surgeon Dr Josef Schmid would be in attendance. Baker was on four space missions, twice each as pilot and mission commander, and later became director of operations for NASA based at the Gagarin Cosmonaut Training Centre in Russia, … [Read more...] about NASA astronauts to take part in first Vietnam Space Week