Vietnam racks up $1.29 billion in trade surplus in two months The country’s trade turnover during January-February topped some 95.81 billion USD, a year-on-year surge of 25.4 percent. Vietnam’s trade balance posted positive, 1.29 billion USD, in the first two months of the year, the General Department of Customs said on December 28. The country’s trade turnover during January-February topped some 95.81 billion USD, a year-on-year surge of 25.4 percent. Of the total, exports amounted to 48.55 billion USD, a yearly hike of 23.2 percent, while imports were estimated at 47.26 billion USD, or 25.9 percent higher than the same time last year. Foreign-invested companies accounted for 76.4 percent, or 37.07 billion USD, of Vietnam’s total export turnover. Meanwhile, the domestic sector shipped abroad 11.48 billion USD worth of products. There were nine commodities joining the billion-USD export club, including telephones and parts (9.3 billion USD, up 22.8 percent year-on-year); electronics, computers and parts (6.9 billion USD, up 27.3 percent); equipment, machines and parts (5.5 billion USD, up 72.6 percent); footwear (3.2 billion USD, up 15.4 percent); and wood and wooden products (2.4 billion USD, up 51 percent). They made up 73 percent of the country’s export turnover. The US was Vietnam’s biggest importer as it splashed out 14.2 billion USD on Vietnamese products, or 38.2 percent higher than the amount it spent the same time last year. China came second with 8.5 billion USD, followed by the EU with 6.3 billion USD, ASEAN 4.2 billion USD, the Republic of Korea 3.4 billion USD, and Japan 3.2 billion USD. Meanwhile, the country spent big (47.26 billion USD) on imports, with foreign-invested sector purchasing 31.64 billion USD worth of products from abroad for production, up 31.4 percent, while that of the domestic sector surged 16 percent to 15.62 billion USD. In the two-month period, China was the largest exporter of Vietnam, with revenue …
Denver real estate investors
Stock market size reaches 88 percent of GDP
An overview of the Aqua City project developed by Novaland in the southern province of Dong Nai. Novaland is among companies w hose capitalisation is valued at billions of dollars on the market (Photo: novaland.com.vn) Hanoi (VNS/VNA) – Vietnam’s stock market reached approximately 87.68 percent of the country’s Gross Domestic Product (GDP) as of the end of 2020, the highest rate reported so far. The other two high rates recorded were in August 2018 at 84.57 percent and March 2018 at 83.08 percent. Including the government bond market and corporate bond market , the value of Vietnam’s entire stock market by the end of 2020 exceeded 110.64 percent of GDP, this is also the highest rate ever recorded. New cash flow continuously pouring into the market since the second half of 2020 has boosted liquidity. December 2020 and January 2021 were two months witnessing record matching value, of more than 250 trillion VND (10.8 billion USD) and more than 300 trillion VND on the Ho Chi Minh City Stock Exchange (HoSE), respectively. However, skyrocketing liquidity has far exceeded market forecasts, leading to frequent congestion in many sessions, causing a lot of trouble for investors and affecting the quality of the market. The sudden increase in liquidity is unpredictable, causing undesired interruptions in trading, according to HoSE. To tackle this issue, the State Securities Commission said it was speeding up the implementation of a new information technology system for the entire stock market, known as KRX. The Vietnamese stock market has experienced a year of spectacular recovery from the bottom caused by the COVID-19 crisis, a trend that is in parallel with most of the major stock markets in the world. Since the bottom at the end of March 2020, the VN-Index has increased by nearly 50 percent. So far, the Vietnamese stock market recorded 38 companies whose value reaches billions of dollars. Vingroup is valued at 15.95 billion USD in market …
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VIETNAM NEWS HEADLINES MARCH 2
Red Spring Festival expects to collect over 4,000 blood units Young people donate their blood In his opening remarks, Director of the National Institute of Hematology and Blood Transfusion (NIHBT) Bach Quoc Khanh, who is head of the festival’s organizing board, said that the festival has been held annually since 2008 to address blood shortages after the lunar New Year holiday, and gradually changed public awareness of blood donation. After 13 editions, the festival has collected over 85,000 blood units and become the annual biggest blood donation event. Khanh took the occasion to express his gratitude for donators nationwide. The 14th edition is taking place from March 1-7 at the NIHBT headquarters, and three fixed places - 26 Luong Ngoc Quyen in Hoan Kiem district, 132 Quan Nhan in Thanh Xuan district, and Valley 122 of Lang Street in Dong Da district. The organizing board expects to receive over 4,000 blood units during this year’s festival, which then will be allocated to nearly 180 hospitals and medical establishments of 28 provinces and cities in the northern region. It has also made thorough preparations to welcome donors so as to ensure COVID-19 prevention and control as recommended by the World Health Organisation and the Health Ministry./. Fatal coach crash kills three, injures 4 in Dong Thap A serious traffic accident caused by a passenger coach took place on National Highway 54 in Tan Thanh Commune of Dong Thap Province’s Lai Vung District this morning, March 1, killing three and injuring four people. The passenger coach with plate number 51B-17273 driven by Tran Van Nam, aged 41, was heading from Vam Cong Bridge to Vinh Long Province when it plowed into a group of 10 bike riders and killed a rider, identified as Tran Van An, aged 59. The passenger coach continued slamming into two electric poles and a tree on the pavement, damaging the front of the coach. Local residents immediately took some injured passengers …
