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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

A Long Chau drugstore. The pharmaceutical retail market was seeing the rapid expansion of modern drugstore chains. — Photo FPT Retail The winds of change are blowing through Viet Nam’s retail pharmaceutical industry, with giants wrapping up investments to establish modern retail chains in an anticipated fast-growing market, which mom-and-pop stores currently dominate. After Pharmacity, FPT’s Long Chau, and Mobile World Investment Corp’s An Khang pharmacy chains, Masan Group is supposedly gearing up preparations to enter the pharmaceutical retail market. According to the national portal about business registration, Winphar Trading Services Corporation was founded on March 31 with WinCommerce, holding a stake of 80 per cent, Do Thi Hoang Yen and Tran Phuong Bac, 10 per cent each. WinCommerce, a member of Masan Group, currently operates the most significant nationwide grocery modern trade retail platform Winmart and Winmart+ while Yen and Bac both held important positions at … [Read more...] about Giants reshape retail pharmaceutical market

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, together with Brazil, Indonesia and India that are emerging markets, have made practical contributions to Apple’s group’s outstanding performance in the second quarter of this year, said CEO Tim Cook. Apple CEO Tim Cook. (Photo credit Apple). In its financial report for the second quarter of 2022, Apple announced a record revenue of US$ 83 billion, up 2% over the same period last year, despite market fluctuations. Speaking to analysts after releasing the figure, Cook noted the quarter saw record revenue in developed and emerging markets "with double-digit growth in Brazil, Indonesia and Vietnam, and a new doubling of revenue in India." The CEO said that the company continues to execute across some significant geographies with "low penetration of iPhones between Indonesia, Vietnam and India where we did quite well". "iPhone tends to be the engine for those markets, particularly at the beginning of creating the market there for Apple products," he … [Read more...] about Apple CEO Tim Cook appreciates Vietnam market potential

A trader observing the market's movements on his computer. — Photo baodautu.vn After hitting a bottom of around 1,140 points in early July, the stock market had recovered for four straight sessions, with the benchmark VN-Index surpassing the threshold of 1,250 points. Notably, liquidity improved significantly last week and has now exceeded the recent 20-week average. This marked the second week of such an increase, showing that investors' interest is improving. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index ended the week at 1,252.74 points, down 0.11 per cent. Meanwhile, the HNX-Index on the Ha Noi Stock Exchange (HNX) closed higher, up 0.73 per cent to 299.9 points. For the week, the VN-Index rose by 3.85 per cent and the HNX-Index was up 3.91 per cent. Trading value on HOSE increased by 39.2 per cent from the previous week to VND83.1 trillion (US$3.5 billion), equivalent to a gain of 47 per cent in volume to more than 3.5 billion shares. On the northern bourse, … [Read more...] about Investors’ risk appetite continues to improve this week

Thanh Cong Textile Garment Investment Trading JSC exported over one-third of its products to the United States in 2021. However, the company started to face challenges following the US’ blanket ban on all Xinjiang cotton. Last year, President Joe Biden signed into law the Uyghur Forced Labor Prevention Act. Vietnam’s cotton imports reach up to one million tonnes each year, Photo: Shutterstock Tran Nhu Tung, chairman of the company, said that the company has adopted regulations this year related to this act. Accordingly, buyers have to be responsible for export orders to the US which source Chinese cotton materials. Thanh Cong secures many large orders from the US. In 2022, the company sets a target to generate $179 million in revenues and $10.87 million in profit, up 120 per cent and 188 per cent respectively against last year. Tung noted that yarn exports are the main driving force for Thanh Cong. “There is a rapidly growing demand for yarn imports in the global … [Read more...] about Demand for cotton forces adjustments

Vietnamese and international viewers will enjoy the unique works of worldwide cinema industries. The sixth Hanoi International Film Festival (HANIFF) will make a comeback and is scheduled to take place in Hanoi between November 8 and 12, according to the Ministry of Culture, Sports and Tourism. After a two-year hiatus due to the Covíd-19 outbreak, the new context of safe and flexible adaptation to the pandemic makes its 6th edition this year a special one, the ministry said, authorizing the Vietnam Cinematography Department and relevant agencies to organize the event. The biennial festival aims to honor outstanding international and Vietnamese film works with high artistic value, rich in humanism and creativity. Foreign filmmakers at the fifth HANIFF held in Hanoi. Photo: Lai Tan The film festival also aims to encourage new talents in the movie industry in Vietnam and worldwide while promoting cooperation among filmmakers for the development of cinema. … [Read more...] about Hanoi International Film Festival to return in Q4

Hanoi’s typical dishes with many variants always cause nostalgia for children who live far from their homeland. As famous as pho (rice noodles soup with beef), spring rolls are also a dish imbued with the “Vietnamese national spirit”: if you see spring rolls somewhere, people from the S-shaped country must be around the corner. A familiar food on a Bangui Street The typical Hanoi's dishes are prepared by Helen Green, a housewife who lives in Ho Chi Minh City The fateful meeting happened when the soldiers realized that a dish they ate on the street was so similar to the Vietnamese fried spring rolls. They weren’t wrong: it was real fried spring rolls, made by an old woman who  came from Hoan Kiem District, Hanoi.Many years back in time, Vietnamese soldiers in the United Nations’ Peacekeeping Mission in the Central African Republic happened to meet an old woman, she was the only one from Vietnam to live in the capital, Bangui. Seventy years before, she … [Read more...] about [Quintessence of Hanoi’s cuisine] Quintessence of Vietnamese cuisine: Hanoi spring rolls

The startup accelerator program, SIHUB - EXPARA Accelerator batch 4 - 2022, has officially been launched. (Photo: SGGP) At this event, SIHUB and EXPARA officially introduced the sixth investment fund, Expara Southeast Asia Ventures, with a scale of up to US$450 million. Of which, one-third of the fund is for the Vietnamese market. When attending SIHUB - EXPARA Accelerator batch 4 - 2022, startups will have the opportunity to expand their network of partners, seek investors, learn from the experience sharing of CEOs, advisors, and guests, and have a chance to receive funding of up to $150,000. Investment enterprises that receive data from startups with growth potential can consider investing in and expanding that model. In addition, large enterprises can look for profitable investment opportunities through Expara Southeast Asia Ventures. Expara Southeast Asia Ventures is an early-stage (seed stage) venture capital fund that primarily invests in next-generation technology … [Read more...] about SIHUB – EXPARA Accelerator batch 4 – 2022 started

Banking services have also made quick progress, catching up with the development of the international market, according to the PM, who is also head of the committee. However, shortcomings still remain during the implementation of comprehensive finance, he said, adding that residents in rural and remote areas still find it hard to access financial sources. Black credit has remained public concern and agencies and organizations have yet to coordinate concertedly and effectively in the implementation of comprehensive finance, the leader pointed out. He noted that the Government issued Decision No.149/QD-TTg on the approval of a national strategy on comprehensive finance by 2025 with a vision towards 2030. The strategy sets out viewpoints, targets, tasks and solutions to accelerate the access and use of financial products and services for all people and businesses, he continued. The issuance of the strategy reflects the Party’s and the State’s consistent policy on boosting … [Read more...] about PM chairs meeting of National Steering Committee for Comprehensive Finance