Dragon fruit market

Workers loading Hoa Phat's steel products on a truck. The company shares surged 1.6 per cent on Thursday after a long losing streak. — Photo hoaphat.com.vn Indices were little changed on Thursday as rising selling pressure in the afternoon trade weighed on many large-cap stocks. The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) ended the day at 1,268.57 points, up 0.14 points, or 0.01 per cent. It rose 0.22 per cent in the morning trade. The market's breadth remained positive as more stocks gained points, of which 252 stocks climbed, while 191 stocks declined. However, liquidity decreased over the last session. Accordingly, the matching value on the southern bourse fell by 18 per cent to nearly VND13 trillion (US$559.8 million). The index edged higher for the third consecutive session, but gains were pared by stronger selling pressure. The 30 biggest stocks tracker VN30-Index dropped 1.2 points, or 0.09 per cent, to 1,309.5 points. Of the VN30 basket, … [Read more...] about VN-Index pares gains on stronger selling force

Petrol retail prices in the country have been adjusted many times over the past few months, Photo: Le Toan In Vietnam, gasoline prices continue to increase, and after the adjustment on May 11 by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance, each litre of E5 RON92 petrol increased by 6.5 US cents to $1.26 per litre while RON95 climbed by 6.7 US cents to $1.30 per litre. On May 17, the price of US WTI crude oil remained at a high level of over $114 per barrel while Brent oil maintained its upward momentum at $114.28 per barrel. Before the next adjustment, which was due on May 21, petrol prices in Vietnam were forecast to continue to increase to higher levels. The ministries first adjusted gasoline prices on January 11 due to a decrease in global supply, production output by Kazakhstan and Libya, and oil inventories of the United States. According to Decree No.95/2021/ND-CP, effective from January, there will be three adjustments each month to the … [Read more...] about Vietnam riding the wave of inflationary unpredictability

The city has supported localities in building large-scale rice farming and encouraged businesses to expand distribution networks in the domestic market and exports. Hanoi is promoting sustainable rice production as a key solution to meet the growing demand for domestic consumption and exports. A delegate of the Hanoi's Department of Agricultural and Rural Development inspects organic farming production at Thach That District. Photo: Anh Ngoc Organic rice farming in Dong Phu Commune, Chuong My District, is considered one of the examples of rice production under the value chain. The Director of the Dong Phu Organic Agricultural Cooperative Trinh Thi Nguyet said from the original area of five hectares, the cooperative has now expanded its production area to 40 hectares. “The entire crop harvested would be later processed and distributed to other provinces/cities, as well as for exports,” Nguyet told The Hanoi Times . According to Nguyet, prices of … [Read more...] about Hanoi promotes sustainable rice production

One-third of the number of large-scale enterprises in Hanoi have invested in high-tech agriculture. Hanoi has been promoting the application of hi-tech models to farming in an effort to build up supply-production chains connecting cities and provinces nationwide. Hanoi has 22 cooperatives applying high technology. Photo: kinhtedothi.vn The capital city has developed 160 hi-tech farming models in the outskirt districts of Me Linh, Gia Lam, Thuong Tin, Dong Anh, Thanh Oai, and Dan Phuong, in which nine enterprises specializing in livestock, aquaculture, preliminary processing - consumption of agricultural products including CP, Dabaco, CJ Vietnam, Minh Long, Hanoi Cattle Breeding JSC, and others are investing in high tech agriculture in the city. Director of the Hanoi Animal Husbandry and Veterinary Sub-Department Nguyen Ngoc Son told a conference on May 25 in Hanoi that the situation of livestock and poultry diseases has been complicated and unpredictable … [Read more...] about Hanoi promotes application of hi-tech farming models

Many retailers in phone and electronics segments focus on developing online channels to survive during the coronavirus pandemic period. To survive adverse effects of the coronavirus pandemic, many Vietnamese tech retailers have quickly boosted their sales on online platforms as their physical stores nationwide have to close until April 15 to comply with the prime ministerial directive stipulating measures to combat the pandemic. Photo: MWG Significant demand on tech products Mobile World Investment JSC (MWG), the largest tech retailer in Vietnam, saw a surge in demand in online shopping since the beginning of April as more than 10% of its 2,000 phone and electronics stores, mainly in Hanoi, have to close. Dang Thanh Phong, PR manager of MWG, told Hanoitimes that its revenue from online sales accounted for 13% of the total phone and electronics revenue in March, higher than that of the previous months. Due to the closure of its stores, sales in … [Read more...] about Vietnamese tech retailers manage to survive Covid-19 pandemic

The regional framework should be in line with international laws and ASEAN Centrality. Vietnam has highlighted the role of international economic initiatives when talking about the Indo-Pacific Economic Framework (IPEF) which was launched by the US three days ago. “Vietnam has joined a number of international economic initiatives that help make the most of domestic and foreign resources, serving the country’s development,” Spokesperson Le Thi Thu Hang of the Ministry of Foreign Affairs (MoFA) said today. Hang made the statement at the press conference on May 26 when talking about Vietnam’s participation in the launch of IPEF through a speech delivered by Prime Minister Pham Minh Chinh. Chinh said the launch of IPEF will kickstart a serious discussion in exchange of ideas towards addressing critical regional and global issues together, issues that no one can address on their own like ones on a global scope – supply chains diversification and resilience, technological … [Read more...] about IPEF should treasure openness, inclusiveness and transparency: foreign ministry

Muoi Sau (Sixteen) Dessert Soup Stall in Hanoi’s downtown is a well-known place for those who love the sweetness of Hanoi desserts. Che or sweet soup is a Vietnamese dessert that originated in northern Vietnam a nearly century ago. This has long been a familiar nosh of Hanoians to cool off on hot summer afternoons. From the simple sweet porridge cooked from lotus, black or green mung beans, over time, it has become more diverse with different variants. A specialty of Hanoi The mixture of lotus and young rice sweet soup. Photo: Moc Van Interestingly, you can enjoy che in both Summer and Winter. There is no better way to refresh your body in the middle of a hot summer day than having a cool fresh glass of che , and warm your body up with a hot bowl of Vietnamese sweet soup on a freezing winter night. che may be served hot or cold, in bowls, glasses, or over ice. Unlike che from other provinces, Hanoians are very careful in the selection of … [Read more...] about Muoi Sau sweet soups- the quintessence of Hanoi’s nosh

Illustrative image. (Photo: SGGP) According to Mr. Nguyen Ngoc Dung, Chairman of Vietnam E-commerce Association (Vecom), in 2021, despite being heavily affected by the Covid-19 pandemic, Vietnam's e-commerce still maintained a good growth momentum with an increase of about 20 percent and a scale of $16 billion. Keeping the growth momentum, Vietnam is now one of the countries with the largest e-commerce market size in the region, besides Indonesia, Thailand, and Malaysia. Vietnam's internet economy in 2021 grew by 31 percent compared to 2020 and reached a scale of $21 billion. Of which, the online retail sector enlarged by 53 percent and touched a scale of $13 billion. There are two waves that have contributed to the steady development of e-commerce in Vietnam in 2020 and 2021 and will be the driving force for the next period. The first wave took place during the early stages of the Covid-19 pandemic in 2020, and the second one from June to September 2021, during the fourth … [Read more...] about Opportunities for e-commerce in Vietnam to boom

Illustrative photo:SGGP/ Viet Chung The Office of the Ministry of Industry and Trade this morning informed that gasoline, an essential goods, directly affecting the production activities of enterprises as well as people’s livelihoods.  The gasoline price hugely affects the Consumer Price Index (CPI) which impacts the whole country’s macroeconomy. From the beginning of the year up to now, the local and international gasoline markets have been uncertain affecting the fuel supply and prices in the local market. Currently, the whole country has 38 wholesalers of gasoline, 329 gasoline distributors and nearly 17,000 retail gas stations. In order to strengthen state management in the field of gasoline business , prevent violations in petroleum business activities, and support the authorities in regulating the supply and demand of gasoline, it is necessary to apply information technology in updating data for petroleum trading enterprises across the country related to gasoline … [Read more...] about Vietnam puts gasoline database system into operation to avoid violations

Real estate bonds shackled by rules - illustration photo At last week’s conference on corporate bonds held by the Vietnam Chamber of Commerce and Industry, experts discussed ways to develop an efficient and sustainable corporate bond market. One of the common recommendations regarded appropriate approaches to credit ratings. According to Can Van Luc, BIDV’s chief economist, there should be clear regulations on credit ratings to help investors easily determine business quality and the risk level of the issued bonds. “It is necessary to identify where a credit rating is mandatory and where a credit rating is encouraged. High-risk businesses should go through compulsory credit rating before bond issuance,” Luc said. “On the other hand, for businesses that have been audited and internationally rated with a long-standing history, a credit rating might not be necessary.” In recent years, the State Bank of Vietnam (SBV) has steadily redirected loan flows towards industry, services … [Read more...] about Real estate bonds shackled by rules