Highest return on investment

This preliminary assessment was made by the ASEAN+3 Macroeconomic Research Office (AMRO) after its Annual Consultation Visit to Vietnam from May 3 - 18. “The Vietnamese economy is expected to grow at 6.3 percent in 2022 and 6.5 percent in 2023. Inflation is projected to remain contained,” said AMRO Group Head and Lead Economist Kalra. “This positive outlook rides on strong external demand, a recovery in domestic consumption and healthy investments inflows, bolstered by an appropriate macroeconomic policy stance.” The domestic outbreak of the Omicron variant receded sharply in April 2022, and border restrictions and domestic containment measures were eased. The aggregate output gap is expected to narrow significantly by the end of this year. The recovery is, nevertheless, uneven across sectors. While both the manufacturing and service sector outputs have surpassed their 2019 levels, the service sector still has pockets of distress, especially in the tourism, hospitality and … [Read more...] about AMRO forecasts Vietnam’s strong recovery amid external headwinds

The Ministry of Transport and localities have proposed VND103 trillion (USD4.43 billion) to carry out 13 transport infrastructure projects between 2022 and 2023. The Ministry of Transport has recommended six projects worth a total capital of VND87 trillion (USD3.75 billion) which will be sourced from the government’s socio-economic recovery programme. The Ministry of Transport and localities have proposed VND103 trillion to carry out 13 transport infrastructure projects The biggest project is the eastern section of the north-south expressway which has a total investment of VND146.9 trillion. Under the ministry’s proposal, VND72.6 trillion will be taken from the government’s socio-economic recovery programme. The other projects are the Cao Lanh-An Huu, Chau Doc-Can Tho-Soc Trang, Khanh Hoa-Buon Ma Thuot, Bien Hoa-Vung Tau expressways and Dai Nghia Bridge which will use VND6 trillion, VND1.2 trillion, VND3.8 trillion, VND2.3 trillion, VND3.5 trillion and VND4.1 … [Read more...] about VND103 trillion proposed for 13 infrastructure projects

An additional 1,319 new Covid-19 infections were confirmed on Sunday, raising the national tally to over 10.70 million, according to the Ministry of Health. According to the ministry's report, most of the new patients are locally-transmitted cases confirmed in 33 out of 63 localities in the country with some localities seeing the highest numbers including Hanoi (347), Bac Ninh (138), Vinh Phuc (90), Nghe An (82), and Yen Bai (61). As of Sunday evening, the number of Covid-19 patients in Vietnam has increased to over 10.70 million. The country now stands 12th among 227 countries and territories worldwide in the number of infections. On May 22, an additional 8,940 more patients recovered from the disease, raising the number of recoveries in the country to over 9.40 million. On Sunday evening, no deaths related to Covid-19 was announced, keeping the total fatalities unchanged at 43,075. By May 21, the country had injected more than 219 million doses of Covid-19 vaccines, … [Read more...] about Vietnam reports additional 1,319 Covid-19 infections on Sunday

National carrier Vietnam Airlines remained in the red in the first quarter of this year, with losses of nearly US$113 million, despite its revenue rising to a two-year high. The airline posted a loss of VND2.621 trillion ($112.9 million) over the first three months of 2022, according to its Q1 consolidated financial statements issued on Friday. The loss was recorded even though the flag carrier logged revenue of more than VND11.6 trillion ($500 million) in the period, up 55 percent year on year, the highest performance since the second quarter of 2020, when COVID-19 began to severely affect Vietnam’s aviation industry. The impressive revenue failed to cover the total cost that was higher than expected, leading to the firm’s ninth consecutive quarterly loss, the carrier said. Vietnam Airlines’ fuel expense in the quarter was VND465 billion ($20 million) more than projected given rising world oil prices, VnExpress cited the company as saying. The Q1 result has brought the … [Read more...] about Vietnam Airlines suffers $113mn Q1 loss despite revenue surge

In the letter, PM Chinh wrote, “I am very pleased that our country’s women’s football team has successfully defended the “queen” for the 7th time at SEA Games 31, including 3 times in a row. More than 2 months ago, when I met to congratulate and reward the women’s football team for their first excellent performance at the World Cup 2023, I wished “diamond girls” and “diamond coaches” of Vietnamese sports to achieve the highest results at the SEA Games 31 as their immediate goal. The medals of the women’s football team, as well as other sports, reflected the great sacrifice and their determination of overcoming difficulties. When the national flag is being raised, the national anthem is being played in the medal awarding moment, each of us is proud and wants to express our deep gratitude to the athletes, the coaches… Along with the Party and State, I call on organizations, individuals and businesses to pay attention to and support our country’s sports teams. I will have a meeting … [Read more...] about SEA Games 31: PM sends letter to congratulate Vietnamese women’s football team

Rogen Ladon of the Philippines wins men's 52kg title on May 22. AFP/VNA Photo Thanh Hà Thailand won four golds while the Philippines and Việt Nam secured three titles each on the last day of the SEA Games 31 competition on May 22. The first victory of the Thais went to Somchay Wongsuwan in the men's 57kg as he beat Farrand Papendang of Indonesia 5-0. Bunjong Sinsiri followed his compatriot on the top podium after defeating Sarohatua Lumbantobing of Indonesia 5-0 in the men's 69kg category. Jakkapong Yomkhot beat Cambodian Ong Pherak in the men's 91kg class with a 5-0 result. Chuthamat Raksat outclassed Trịnh Thị Diễm Kiều of Việt Nam 5-0 in the women's 48kg pool. Rogen Ladon retained the men's 52kg title after beating Vietnamese bet Trần Văn Thảo for Philippine boxing's first gold at the Games on at Bắc Ninh Province's Gymnasium. Ladon was the aggressor from the get-go en route to a 3-2 split decision victory. The 28-year-old Ladon found an opening … [Read more...] about Boxing titles shared among Thailand, the Philippines and VN

An employee passes electronic boards showing share prices inside Hồ Chí Minh Stock Exchange in HCM City. — VNA/VNS Photo Hữu Khoa HÀ NỘI — An upgrade to emerging status will not only help the stock market develop quickly, transparently and sustainably, but also attract huge foreign capital inflows, said experts. Recently, the Government has directed to purge the market and improve the trading system’s capacity, showing its determination to enhance the quality of the stock market. The refinement is to protect investors and open a door for the Vietnamese stock market to be upgraded from a frontier to an emerging market. Prime Minister Phạm Minh Chính has taken an interest in the development of the capital market and the stock market, including the matter of upgrading the market. During a trip to attend the ASEAN-US Special Summit, on May 16, the PM visited the New York Stock Exchange (NYSE) – the largest stock exchange in the world – hoping it supports and shares experience to … [Read more...] about Upgrading the market for the sake of all participants

By May 20, the country had injected 219,047,772 doses of COVID-19 vaccine s (Photo: VNA) Hanoi (VNA) – New cases of COVID-19 dropped strongly to under 100 in many localities on May 21, with a total 1,457 new case s recorded in the past 24 hours from 4pm May 20 to 4pm May 21, according to the Ministry of Health. Hanoi still reported the highest number of infection s on the day with 370 cases, followed by Nghe An with 95 and Vinh Phuc with 91. The national tally reached 10,707,568. A total 3,069 COVID-19 patients were given the all clear on May 21, bringing the number of recoveries so far to 9,393,101. There are 221 patients needing breathing support, while no death was recorded in the past 24 hours. The total fatalities stood at 43,075. By May 20, the country had injected 219,047,772 doses of COVID-19 vaccines, including 3,385,880 first doses and 19,600 second doses for children from five to under-12 years old./. VNA … [Read more...] about COVID-19: New cases drop strongly in many localities on May 21

Prime Minister Pham Minh Chinh attends Gia Lai's 90th founding anniversary celebration ceremony in Pleiku City on May 21 evening. (Photo: VNA) Gia Lai (VNA) - Gia Lai should make renewable energy a key economic sector and pay more attention to developing tourism and processing industries while, Prime Minister Pham Minh Chinh stressed at the Central Highlands province’s 90th founding anniversary celebration ceremony held in Pleiku City on May 21 evening. Gia Lai is blessed with various natural and cultural advantages, Chinh said in his remarks, noting that the province has magnificent, green landscapes; fertile soil; a wealth of minerals and resources; distinctive cultures; as well as hardworking and friendly people. To make the most of such advantages and potential to turn Gia Lai into a strong province with improved living standards, the provincial Party organisation, administration and people must work harder, cement their solidarity, and stay active, … [Read more...] about Gia Lai should make renewable energy key sector: PM

Vietnamese (in red) and Thai players vie for the ball at the final on May 21. (Photo: VNA) Hanoi (VNA) – The media in Thailand ran many articles on the women’s football final between their country and hosts Vietnam at SEA Games 31 on May 21. Vietnam won over Thailand 1- 0 in the match, freshly following which State President Nguyen Xuan Phuc and Prime Minister Pham Minh Chinh sent their congratulations to the team. In its story, the Daily News said the final, held on Cam Pha Stadium of Quang Ninh province, was a game between equally talented teams, but Vietnam were in the lead thanks to a goal by Huynh Nhu at the 59th minute to grab the gold medal. The newspaper also mentioned the Vietnamese team’s top place in the region for seven times, including golds at three consecutive SEA Games. Meanwhile, Thailand earned the silver medal for straight three times and the gold at the region’s biggest sporting event for five times. Siam Sports reported despite encouragement from … [Read more...] about SEA Games 31: Thai media comment on Vietnam’s win in women’s football final