German asia pacific business association

Viettel is the only Vietnamese brand in the latest Brand Finance Global 500 rankings. (Source: baochinhphu.vn) Hanoi (VNA) – Viettel is the most valuable telecoms brand in Southeast Asia and the 17th in the world, according to the latest Brand Finance Global 500. At the 234th position globally, Viettel is the only brand of Vietnam and the only telecoms one of Southeast Asia listed in the 2023 rankings. Meanwhile, e-commerce company Amazon surpassed Apple to become the world’s most valuable though its brand value fell about 15% to 299.3 billion USD this year from 350.3 billion USD in 2022. Apple dropped to the second place as its brand value declined 16% to 297.5 billion USD. Brand Finance , founded in 1996, is the world's leading brand valuation consultancy present in 20 countries and territories./. VNA … [Read more...] about Viettel named most valuable telecoms brand in Southeast Asia

The company also presented funds to help 63 households in the communes to transform their coffee gardens. This was an activity within the "National target program on socio-economic development - model of soldiers associated with people in ethnic minority and mountainous areas in the period 2021- 2025” component project. Over the past years, Coffee 15 One Member Co., Ltd. has helped hundreds of poor households in the project areas of the two defense-economic zones transform their old coffee gardens, reclaim land for wet rice, fruit trees, and medicinal herbs to increase income, thus reaching sustainable poverty reduction target. Below are photos of Coffee 15 One member Co., Ltd. helping local people develop domestic economy. Translated by Song Anh … [Read more...] about Military business assists locals in economic development

Foreign capital is expected to continue to flow into the stock market as foreign investors' confidence remains strongly. — VNA/VNS Photo From being net sellers in the first nine months of 2022, foreign investors have become the driving force supporting the Vietnamese stock market in the last few months, and the inflows are expected to continue this year. In 2022, this group net disbursed more than VND29.2 trillion (US$1.2 billion) to the market, while it has net sold nearly VND18.8 trillion and set a record net selling value of over VND62.2 trillion in 2021. In November alone, more than VN16 trillion in net disbursed cash flow from foreign investors was significantly supported by exchange-traded fund (ETF) capital inflows into the market, primarily from the Fubon ETF and the VNDiamond Index-based ETF. A study by BIDV Securities Company (BSC) analysing over $50 billion owned by foreign investors on the Vietnamese stock market showed that more than half of foreign ownership is … [Read more...] about Foreign investors remain optimistic about VN stock market

Remittance flows into Viet Nam approximated $19 billion in 2022. — Photo baotintuc.vn Viet Nam remains one of the 10 countries receiving the most remittances in the world, according to the recent Migration and Development Brief by the World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD). Despite the COVID-19 pandemic’s major impacts on the global economy over the last two years and growing inflation in many countries, remittance flows into Viet Nam remained relatively stable compared to previous years, the report noted. Total remittances to Viet Nam increased by nearly 5 per cent in 2022 and may go up 3.6-4.5 per cent in the following years after growing 5 per cent in 2021, according to statistics of WB and KNOMAD. Last year, the value rose about US$1 billion to approximate $19 billion, making the country one of the three biggest recipients in the Asia-Pacific and among the top 10 globally in terms of remittances. Some banks perceived that … [Read more...] about Viet Nam among world’s 10 biggest recipients of remittances

According to its latest report on Southeast Asia, HSBC said Thailand will benefit the most from China’s reopening. It said further that tourism in Vietnam was also expected to perform well as Chinese tourists account for some 30% of international arrivals to the country. This month Khanh Hoa Province is expected to have nine charter flights which will bring Chinese visitors to Vietnam after a 3-year suspension due to the pandemic. Hotels in Hoi An, in the central province of Quang Nam, have also received bookings from Chinese tourists. Regarding trade, since 2020 ASEAN has surpassed the E.U. to become China’s largest trading partner. Last year Vietnam was one of three Southeast Asian countries, along with Indonesia and Malaysia, reporting increases in exports to China. Vietnam is also benefiting from more favorable trade ties with China because exports no longer have to undergo strict Covid testing. Concerning FDI, Japan and South Korea are the leading countries in terms of … [Read more...] about Vietnam’s tourism, trade, FDI rosy amid China’s reopening: HSBC

Like so many others in Lam Dong Province and other rural areas of southern Vietnam, Toan saw the value of his agricultural land skyrocket in 2020-2021. He took it as an opportunity to start flipping properties for profit. But the market froze last year and short-term loans at high interest rates have now sunk him and many other farmers-turned-inexperienced-traders in impossible debt instead. The veteran coffee grower sold his land 7 km from the center of Di Linh District for several billions of dong in profit during a property price bubble in 2021. He then took out short-term, high-interest loans and used them plus money he made from his land sale to by several more plots he planned to resell for profit in what he thought would be at most 1-2 months. He said he thought he’d be able to sell some of the land back in even just a couple of weeks. But the properties still haven’t sold. In early 2022, Toan poured another VND15 billion ($635,600), including VND6 billion from another … [Read more...] about Debt buries farmers trying to flip property in frozen market

Vietnam’s four biggest State-owned banks have an urgent need for capital increase in 2023 as their charter capital is too low, with some unable to ensure the regulated minimum capital adequacy ratio (CAR), according to industry insiders. A customer at a Vietcombank office in Hanoi. Though the four biggest State-owned banks, including Vietcombank, have been a key force in supporting the economy to overcome difficulties, their charter capital is too low. Photo thoibaonganhang.vn Currently, the big four, including BIDV, Vietcombank, Agribank and VietinBank, only hold more than 40 per cent of the credit market share of the country’s banking system, but over the years, especially in the past three years, the banks have been a key force in supporting the economy to overcome the difficulties caused by the COVID-19 pandemic and global economic uncertainties. State-owned banks always take the lead in implementing incentive policies of the National Assembly, the … [Read more...] about State-owned banks under capital increase pressure