Free market economy countries list

Viet Nam has the cheapest valuations and second highest EPS growth in Southeast Asia, as this table shows. — Source VinaCapital “Viet Nam’s economy is even stronger than we had expected at the beginning of the year, but that strength is not reflected by higher stock prices due to the [US’s] aggressive rate hikes and the recent regulatory crackdown in Viet Nam,” Michael Kokalari, chief economist at VinaCapital, has said in a report. “That said, we expect over 20 per cent [company earnings] growth in 2022, which should support a recovery in the VN-Index by the end of 2022.” July economic statistics have not only reinforced VinaCapital’s forecast of 7.5 per cent GDP growth in 2022 but also make it look like the economy would grow by a stunning 10 per cent year-on-year in the current quarter, he said. “Our expectation that Viet Nam’s economy will grow by at least 7.5 per cent this year (and by at least 10 per cent in Q3) leads us to believe that the consensus forecast for 16 per … [Read more...] about Stock market to benefit from unexpectedly strong domestic growth: VinaCapital

Vietnam will need a skilled workforce to transform itself into an upper-middle-income economy by 2035, the World Bank has suggested in its recently-released report named “Taking Stock: Educate to Grow”. Illustrative image (Photo: VNA) In its bi-annual report, the lender said: “Vietnam needs a workforce with 21st century skills to grow. As the economy moves from being driven by low skill and low wage jobs in manufacturing and services towards a more innovation driven growth model built on higher value-added industries and services, Vietnam’s workforce will need to attain higher level and more relevant skills.” The Vietnamese Government’s Socio-economic Development Strategy for 2021-2030 says as much, aiming to use scientific, technological, innovative, and digitally transformative knowledge and build quality human resources as key drivers of higher productivity and future economic growth. To achieve these goals, Vietnam needs to reform its education system … [Read more...] about Vietnam needs skilled workforce to become upper-middle-income economy by 2035: WB

As Vietnam steps into the post-pandemic era, experiences and learnings from the pandemic serve as a reminder of the importance of digital transformation and its crucial technology component. Eunjung Han, consultant at Rouse Legal Vietnam and vice chair of the Digital Sector Committee of the European Chamber of Commerce in Vietnam Despite COVID-19’s negative economic and social impact, Vietnam remains an attractive destination to European investors. According to the European Chamber of Commerce (EuroCham) 2021 White Book, Vietnam’s stable macro-economic climate, with inflation in the single digits, continues to increase investor confidence in the country’s trade and investment environment. Only adding to that, the EU-Vietnam Free Trade Agreement (EVFTA) is paving the way for continued foreign direct investment (FDI) from the EU and is viewed as a means for shared recovery and economic rebound. As the first comprehensive FTA between the EU and a developing country in … [Read more...] about EVFTA underpinning growth in Vietnamese tech market

Vietnam’s real retail sales, excluding the impact of inflation, grew by 7.9 percent year-on-year in the first six months of 2022. (Photo: VNA) Earnings growth are expected to exceed 20 percent this year, Kokalari said in a report entitled “The divergence between Vietnam’s strong economy & weak stock market,” which outlines expectation for Vietnam’s economy in the last five months of 2022. It is attributed to the country’s solid economic performance, he added. Vietnam’s real retail sales, excluding the impact of inflation, grew by 7.9 percent year-on-year in the first six months of 2022. This figure surged to 11.9 percent in the seven months, which is far above the 7 percent year-on-year growth that VinaCapital had previously been forecasting for 2022. “This is important because we are often asked now whether the ongoing slowdown in the US economy - which is Vietnam’s biggest export market - will weigh on Vietnam’s economic growth,” Kokalari said. A slowing US economy is … [Read more...] about Vietnamese economy is likely to grow 10 percent in Q3: VinaCapital

Earnings growth are expected to exceed 20% this year, Kokalari said in a report entitled “The divergence between Vietnam’s strong economy & weak stock market,” which outlines expectation for Vietnam’s economy in the last five months of 2022. It is attributed to the country’s solid economic performance, he added. Vietnam’s real retail sales, excluding the impact of inflation, grew by 7.9% year-on-year in the first six months of 2022. This figure surged to 11.9% in the seven months, which is far above the 7% year-on-year growth that VinaCapital had previously been forecasting for 2022. “This is important because we are often asked now whether the ongoing slowdown in the US economy - which is Vietnam’s biggest export market - will weigh on Vietnam’s economic growth,” Kokalari said. A slowing U.S. economy is likely to temper Vietnam’s export and economic growth, however, the impact of that slowdown will be offset by the country’s strong domestic economy, he said. The revenues … [Read more...] about Vietnamese economy is likely to grow 10% in Q3: VinaCapital

Nguyen Chi Cong, deputy general director of Vicostone JSC (middle), receives the award from Forbes Vietnam magazine. — Photo courtesy of Vicostone Vicostone JSC (HNX: VCS) has been recognised as one of the top 50 best-listed companies in 2022 by Forbes Vietnam magazine for the eighth consecutive year. The company - a member of Phenikaa Group, has also been named as one of the 50 best sustainable companies in the Nhip Cau Dau Tu magazine’s first-ever ranking. With Viet Nam and its local enterprises enduring adversities and challenges amid COVID-19, Vicostone has made remarkable achievements with its corporate governance, high adaptability and flexibility in the face of market changes. In 2021, Vicostone reported its total revenue and profit after tax gained respective growth of 24 per cent and 25 per cent year-on-year to more than VND7.07 trillion and VND1.77 trillion. Despite the pandemic, the company’s exports to key international markets last year increased by a record … [Read more...] about Vicostone named among top listed sustainable companies in 2022

Expert shares insights and expertise in the market and consumer trends at the Mastercard Customer Forum 2022 in Viet Nam on August 10. — Photo courtesy of Mastercard Mastercard committed to supporting Viet Nam to drive a strong recovery post-pandemic and toward a cashless society at the Mastercard Customer Forum 2022 in Viet Nam on August 10. The event aims to connect Mastercard with its strong network of local financial institutions and issuers, as well as prestigious experts and guest speakers in new finance and payment services. The forum has helped sketch the big picture of the current payment landscape, drawing how Mastercard and its key partners join hands to increase payment capability and better serve the population of 100 million people in Viet Nam. At the event, experts from Mastercard, Thales, Moneythor and Ampverse shared insights and expertise in the market and consumer trends, the role of technology in the country’s future, and the outlook for Viet Nam’s … [Read more...] about Mastercard commits to support Viet Nam to realise cashless economy

They are Petrovietnam Gas Corporation (PV Gas), PetroVietnam General Service Joint Stock Corporation (Petrosetco), PetroVietnam Fertilizer and Chemicals Joint Stock Corporation (PVFCCo), and PetroVietnam Camau Fertilizer JSC. PV Gas is at the ninth place in the list this year. This is the 10th consecutive year that the company has been honoured in the list. The company posted record revenue and profit in the first six months this year, with net turnover at 54.342 trillion VND (2.32 billion USD at current exchange rate), up 35% year on year and after-tax profit at 8.637 trillion VND, up 98% year on year. In the period, PV Gas produced and supplied more than 1 billion tonnes of LPG, accounting for 70% of the domestic gas wholesale market. Meanwhile, it is the sixth time PVFCCo has made its way onto the list. The company has maintained its growth in the first half of this year, posting revenue of around 10 trillion VND and parent company’s pre-tax profit of over 4 trillion VND. The … [Read more...] about Four subsidiaries of PetroVietnam named in Forbes Vietnam’s list of top 50 listed firms

The spice products are available at commercial centres, supermarkets, convenience stores, e-commerce platforms – Shopee , Lazada and Tiki, to name but a few, and Facebook pages and websites of businesses. (Source: tuoitre.vn) Hanoi (VNA) – With a population of nearly 100 million and strength in cultivating spice plants, Vietnam has substantial potential for spice production, consumption and export. According to Nielsen Market Research Company , the Vietnamese seasoning and sauce market expands by an average of 25-32% during the 2016-2022 period. Vietnamese households pose a high demand for seasoning for their meals – and it does take a lot of seasoning to make 30 million litres of soup a day, all the while the amount of fried and stir-fried dishes increases by 18 million plates and 14 million braised dishes during the weekends. The domestic spice market has lured international groups with products like Knorr (Unilever, the UK), Aji-ngon (Ajinomoto, Japan), Miwon … [Read more...] about Businesses spice up Vietnamese market

The agency has strived to deploy trade promotion and investment solutions based on the application of information technology, aiming to help Vietnamese companies maintain contact with potential foreign partners and investors to explore collaboration opportunities. Côte d'Ivoire is Vietnam's second-largest trading partner and fourth-largest export market in Africa, according to Nguyen Phuc Nam, deputy head of the Asia-Africa Market Department under MoIT. The value of two-way trade has amounted to more than 1 billion USD per year between 2017 and 2021. Bilateral trade recorded a strong recovery last year, reaching nearly 1.26 billion USD, up 38.7% from 2020. In particular, Vietnam is currently one of the five largest rice exporters to Ivory Coast, accounting for an average of 30-40% of the African country's total rice import value. Source: VNA … [Read more...] about MoIT ready to help Vietnamese companies access Côte d’Ivoire market