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"In 2022 the steel industry was going through a difficult cycle. I predicted this at last year's meeting, and honestly it was worse than expected," he said at the 2023 annual general meeting on Thursday. "However, the most difficult period has passed, and the internal strength of Hoa Phat in particular is good, and now it completely depends on the demand side." Steel is an industry that depends on the real estate market and the government's public spending policy. Long said now "everything is very slow." Hoa Phat's January and February results were negative, but the losses were lower than the management had feared, he said. Things have been better in March, he said without providing figures, but promised to announce them at the end of April. Asked about his past assertion that "Hoa Phat cannot make steel forever," he said that applied for the long term and is a path that all large corporations must tread, but not easy to implement in the short term. "In theory, it is … [Read more...] about Worst over for industry: Hoa Phat Steel chairman

Vietnamese steel industry calling for wider investment from overseas entities, photo Le Toan Posco Yamato Vina Steel JSC, a joint venture between South Korea’s Pohang Iron and Steel Company and Japan’s Yamato Holdings, is contemplating constructing a second facility in Vietnam. Lee Youngwoo, general manager of Posco Yamato Vina, wants to “establish a robust sales network” across Vietnam while enhancing scrap supply security. In 2020, Posco Yamato Vina was the first to manufacture wide H-shaped steel in Vietnam. According to Lee, the business built a representative office in Haiphong last year in order to “create additional prospects for collaboration” with clients. In the southern province of Ba Ria-Vung Tau, Posco Yamato Vina operates a steel mill with a capacity of one million metric tonnes per year and produces section steel with a capacity of 500,000 tonnes per year. Following a lack of foreign investment in steel manufacturing in recent years, many observers see Posco … [Read more...] about Vietnamese steel industry calling for wider investment from overseas entities

Striker Huynh Nhu (Photo: Vietnam Football Federation) Hanoi (VNA) – Striker Huynh Nhu, who is playing for Portugal’s Länk FC, will join the national women’s football team at the first qualifying round of the Paris 2024 Summer Olympics, the Vietnam Football Federation announced on March 31. Nhu, who has earned Vietnam’s Golden Ball for five times, will fly from Portugal to Kathmandu, Nepal, to join her teammates who are scheduled to depart for the South Asian nation on April 2. Vietnam will play two matches against host Nepal on April 5 and April 8. The presence of Nhu is expected to contribute to increasing the strength of the Vietnamese women’s team, who have qualified for the first time for a Women's World Cup. They are in the same group with defending champions US./. VNA … [Read more...] about Striker Huynh Nhu to join national women’s football team in 2024 Olympics qualifiers

An HDBank transaction office in HCM City. HDBank hopes to maintain its high growth momentum in the coming years. — Photo courtesy of HDBank The Ho Chi Minh City Development Joint Stock Commercial Bank has announced its 2022 results audited by PwC, which shows profit before tax of nearly VND10.27 trillion (US$437.18 million), its highest ever and up 27.2 per cent from the previous year and 105 per cent of the target approved by shareholders. The non-performing loans (NPL) ratio was low, while operational safety indicators were among the best in the industry. The operating income for the year topped VND22 trillion ($936.39 million), up 31.1 per cent. Its credit, services, card, and digital banking businesses all saw high growth. The total number of credit cards it issued quadrupled while their transaction value nearly tripled, and the number of e-banking transactions doubled with their value growing by six times to VND761 trillion ($$32.39 million). The return on equity and … [Read more...] about HDBank outstanding loans to property sector, corporate bond holdings among industry lowest

My wife got pregnant a few months after moving in and stopped working after giving birth. My son is now 16 months old. I run my own business from home. A few years ago, the business did well so I had a high monthly income, more than enough to take care of my wife and son. My wife never had to worry about money, and I also helped with household chores after work and took care of my child. He was an easy baby to care for and so we didn’t have a hard time raising him. However, beginning last year, my business went stagnant and so I only made just enough, around VND20 million ($843) a month, to pay for our living expenses. Since Lunar New Year festival ( Tet ), which fell in January, I earned only VND10 million ($421) a month despite my best efforts. The financial pressure made me anxious and I cut down on my personal expenses. I have breakfast at home, make my own coffee and avoid attending social events such as weddings or parties. When I told my wife about our financial … [Read more...] about My wife refuses to work despite family money problems