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Vietnam’s long-term credit rating upgraded to “BB+”: S&P

May 27, 2022 by hanoitimes.vn

S&P forecast Vietnam’s GDP will grow 6.9% in 2022 before settling closer to its long-term trend of growing 6.5%-7% from 2023 onward. S&P Global Ratings on May 26 raised its long-term foreign and local currency sovereign credit ratings on Vietnam to 'BB+' from 'BB'. S&P expects Vietnam's economy to continue its upward trend. Source: S&P The rating agency also affirmed the country’s short-term rating at ‘B’ with a stable outlook. “The stable outlook reflects our expectations that over the next 12-24 months, Vietnam's economy will continue to recover from the challenges posed by the pandemic over the past two years. This will support the external position and rein in fiscal deficits,” it noted. S&P added it could raise the ratings if Vietnam's institutional settings improve considerably, in ways that augment policy predictability and transparency. Such favorable changes in the policy environment could bolster investor confidence in the … [Read more...] about Vietnam’s long-term credit rating upgraded to “BB+”: S&P

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Second group of L2FH Rotation 3 arrives home

May 28, 2022 by en.qdnd.vn

Present at the event were VNDPKO Director Major General Hoang Kim Phung, Director of Military Hospital 175 Major General Nguyen Hong Son, the Australian Defense Attaché to Vietnam, representatives of Air Division 370, international delegates, and relatives of the field hospital’s staff. At 01:30 on May 27, the military transport aircraft C-17 Globemaster III of the Royal Australian Air Force carrying the second group of the L2FH Rotation 3’s staff landed at Tan Son Nhat International Airport. Earlier, the first group of the hospital’s members arrived home on April 30. After undergoing a rapid COVID-19 testing, the Vietnamese peacekeepers attended a welcoming ceremony chaired by leaders of the VNDPKO and Military Hospital 175. In a cozy and solemn atmosphere, leaders of units expressed their delight at the L2FH Rotation 3’s significant outcomes, which have contributed to raising the quality of defense external relations and diplomatic activities. Speaking at the welcoming … [Read more...] about Second group of L2FH Rotation 3 arrives home

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Tighter regulations to prevent manipulative practices

May 28, 2022 by bizhub.vn

An investor monitors stock prices. — Photo anninhthudo.vn Many investors and firms in Viet Nam have reached a financial size that they are well-positioned to manipulate the securities market, exposing the need for tighter regulations. Financial expert Vu Dinh Anh underlined transparency as the key to a healthy securities market. Without transparency, certain companies can rely on illegal practices, including insider trading and price manipulation, to make profits at the cost of market stability. “It’s time to enhance market management, tighten up on insider trading and price manipulation, and promote technology in line with market development," he said. "That’s what the authorities, securities firms and investors have to do. If they can get the job done, the securities market would become a sound capital channel that supports economic growth." Nguyen Hoai Thu, investment manager at the VinaCapital Fund Management JSC., believed that the State Securities Commission and stock … [Read more...] about Tighter regulations to prevent manipulative practices

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