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Vinhomes Imperia Hải Phòng Urban Area, a project built by Vingroup. The company's shares soared nearly 3.5 per cent on Wednesday, leading the market's uptrend. — VNA/VNS Photo The Vietnamese stock market recovered on stronger demand force after recent corrections, while foreign investors continued to withdraw from main exchanges. The VN-Index on the Hồ Chí Minh Stock Exchange increased over 14.6 points, or 1.21 per cent, to close Wednesday at 1,266.11 points. The recovery helped recoup most of the losses hit in the last two sessions. On the southern bourse, breadth of the market returned to a positive zone with 275 stocks advancing, while 52 ended lower. Liquidity decreased over the previous session, but remained above VNĐ20 trillion. Particularly, VNĐ20.37 trillion (US$838.25 million) worth of shares was traded on HoSE, equal to more than 878 million shares. The index's reversal was mainly driven by strong rebounds in real estate stocks and other pillars in the securities … [Read more...] about Market rebounds, ending two-day losing streak

The trade fair is taking place at the Saigon Exhibition and Convention Centre (SECC), from September 20 to 23, and will feature exhibitors from various supply chain sectors offering a wide array of top-quality products, services, and solutions. According to Phung Quoc Man, deputy chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), "Vietnam's wood exports have shown signs of recovery since the beginning of the third quarter this year. The turnover of wood exports reached over $1.1 billion in August after a long period of decline." "So, VietnamWood 2023 is taking place just at the right time, the wood industry is showing signs of recovery and preparing to enter a new cycle after a long, challenging period. We expect to host 320 exhibitors from 28 regions and countries as they present the latest woodworking product lines and engage in various curated events and activities," Man added. Vietnam is the world's fifth-largest exporter of wood and timber … [Read more...] about VietnamWood to help revive woodworking industry

Christina Bao, Co-Head of Sales & Marketing at the Hong Kong Exchanges and Clearing Limited (HKEX). — Photo courtesy of HKEX The Vietnamese stock market is a key capital mobilisation channel for the economy and is undergoing improvement and upgrading towards emerging status. Considered as Asia’s financial hub, Hong Kong is a role model for Việt Nam to follow. When Christina Bao, Co-Head of Sales & Marketing at the Hong Kong Exchanges and Clearing Limited (HKEX), came to Việt Nam for a conference, Việt Nam News reporter Ly Ly Cao took the opportunity to speak to her about solutions to enhance the country’s stock market and how Hong Kong can support Việt Nam in the upgrading process. What do you think about the Vietnamese stock market in its current state? Việt Nam’s economy is on very strong momentum in terms of GDP growth, which grew by more than 8 per cent last year and is hopefully to reach 6 per cent this year. This sets a very strong foundation for the local … [Read more...] about Hong Kong to help elevate Việt Nam’s stock market potential

Benefit consultants from Mercer, Aon and Willis Towers Watson see employer healthcare costs jumping 5.4% to 8.5% in 2024 due to medical inflation, soaring demand for costly weight-loss drugs and wider availability of high-priced gene therapies. A survey conducted by Mercer, a unit of Marsh McLennan, found over two thirds of employers either do not plan to shift any cost increase to their staff or will pass on less than the expected rise in 2024. "They don't want to add more financial stress on employees who are also coping with inflation, especially in this time where they're really relying on their health benefits as a way to keep employees working for them," said Beth Umland, Mercer's director of health & benefits research. U.S. consumer prices accelerated 3.7% in the 12 months through August, down from a peak of 9.1% in June last year. However, medical cost increases usually lag general inflation as contracts between insurers and hospitals for the prices of procedures are … [Read more...] about US employers to see biggest healthcare cost jump in a decade in 2024

This partnership represents a clear commitment by both parties to address climate change within their value chains. DHL Express, the world’s leading international express service provider, on September 19, signed its GoGreen Plus service contract with Asia Commercial Joint Stock Bank (ACB) to reduce carbon emissions for its time-definite international (TDI) shipments through the use of sustainable aviation fuel (SAF). By investing in GoGreen Plus, ACB is estimated to reduce 14 tons worth of total CO2 emissions within a 12-month period. DHL Express and ACB sign the GoGreen Plus contract. Photo: DHL The whole process is verified annually by an independent third-party agency, Société Générale de Surveillance (SGS). In addition, a complementary Carbon Footprint report will be updated monthly, detailing ACB’s overall emissions with DHL Express . “We believe that corporate social responsibility and business success always go hand in hand. … [Read more...] about DHL Express partners with ACB to cut carbon emissions using sustainable aviation fuel

The deals were signed in Washington D.C. on Tuesday in the presence of Prime Minister Pham Minh Chinh, U.S. Ambassador to Vietnam Marc Knapper, and President and CEO of the Semiconductor Industry Association John Neuffer. The Ministry of Planning and Investment’s National Innovation Center signed a memorandum with Cadence Design Systems on the design and production of semiconductors. The center also signed a memorandum with Arizona State University to develop human resources for the semiconductor industry. The Ministry of Education and Training signed a memorandum with Intel to develop human resources for hi-tech sectors. Investment minister Nguyen Chi Dung said that the signings will help boost cooperation between U.S. companies in the semiconductor industry and Vietnamese partners. The U.S. is a leading country in the sector, and Vietnam is a land of potential with an ideal geographical location, and a stable political system, he added. The country aims to train 50,000 … [Read more...] about Vietnam signs semiconductor memorandums with US companies

Furthermore, the Vietnam Maritime Administration recently announced a draft to replace the Ministry of Transport’s Circular No.54 concerning the pricing of container handling and other associated services at Vietnamese seaports. The draft proposes a 10 per cent increase in the price of container handling services effective from January 1, 2024 in various ports including Haiphong, Ho Chi Minh City and the Cai Mep-Thi Vai seaport complex in the southern province of Ba Ria-Vung Tau. In addition, the draft proposes terminals able to receive ships capable of transporting more than 160,000DWT can impose a 10 per cent additional increase for loading and unloading services, meaning that those terminals could increase fees by as much as 20 per cent. As a result of these developments, shipping stocks have been actively traded on the stock exchange of late, with several firms witnessing steady increases in share prices in recent trading sessions. Hanoi-based securities firm … [Read more...] about Shipping firms eye rosier future

Standing deputy head of the Party Central Committee’s Commission for Information and Education Lai Xuan Mon (fourth, from left) and Vietnamese delegates are at Canada’s MaRS Discovery District. (Photo: VNA) Ottawa (VNA) – A delegation from the Party Central Committee’s Commission for Information and Education led by its standing deputy head Lai Xuan Mon held a working session with Canada’s MaRS Discovery District - the largest urban innovation hub in North America, as part of their working trip to Canada from September 18-19. Mon said the working visit will contribute to enriching Vietnam's experience and help the country build more effective science and technology development policies. Canada relations for the 2020-2025 period which focuses on this field. The Canadian Government has supported many projects to improve policy and scientific research capacity in Vietnam. During his stay in Canada, Mon also had a meeting with outstanding representatives of the … [Read more...] about Party delegation learns Canada’s innovation experience

Gemalink Deep-Sea Port in Ba Rịa - Vung Tau province (Photo: VNA) Hanoi (VNA) - The Ministry of Planning and Investment has outlined three potential economic growth scenarios for 2024 , with the highest GDP growth rate forecast at 6.5%. These projections stem from the Government's socio-economic development strategy for the 2021-25 period, combined with endeavours to meet the 2023 growth goal of 6.5%. Given the challenges faced by the Vietnamese economy between 2021-23, 2024 is anticipated to be a pivotal year for Vietnam to accomplish the objectives of its five-year plan. In the first scenario, Vietnam's GDP is predicted to rise by 6%. This estimate presumes that global growth will be moderate in 2023 and the resurgence of global trade and investment will continue to face hurdles. Although the domestic market and services sector might exhibit robust growth, the import, export, and industrial production sectors may not experience a marked recovery due to their … [Read more...] about Ministry projects three economic growth scenarios for 2024

At the international conference on the Vietnam-Laos-Cambodia trade and investment cooperation given the digital economy held in HCM City on September 20.(Photo: VNA) HCM City (VNA) – More than 100 Vietnamese, Lao, and Cambodian experts, managers, and diplomats joined an international conference on the three countries’ trade and investment cooperation given the digital economy, which took place in Ho Chi Minh City on September 20. The event was co-organised by the Vietnam Academy of Social Sciences ( VASS ), Lao Academy of Social and Economic Sciences ( LASES ), and Royal Academy of Cambodia (RAC). Addressing the conference, VASS President Dr Phan Chi Hieu said the promotion of the digital economy is considered one of the key tasks to accelerate the restructuring of an economy, associated with innovation in the growth model and the improvement of growth quality, aiming to help a nation escape the middle-income trap and move towards the goal of becoming a developed … [Read more...] about Int’l conference discusses Vietnam-Laos-Cambodia cooperation in digital economy