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Though the benchmark VN-Index has lost nearly 19 percent this year, the bank said it was confident about the long-term prospects of the market as companies have been "on a roll" in terms of growth and profits in recent years. The average earnings per share of listed companies had grown by 35 percent last year, and while trading had dipped in the last few months, the Vietnamese market had surpassed Singapore and Indonesia to become the second largest in Southeast Asia behind only Thailand. Local retail investors accounted for around 87 percent of trading. Though foreigners had been mostly withdrawing from the market for nearly three years, they "have started to dip their toes into this market again" in the past few weeks. This was because only seven of the 30 biggest stocks on the main bourse, the Ho Chi Minh Stock Exchange, had reached their foreign ownership limit. Overall the VN-Index had a foreign ownership limit of 44 percent, and current foreign holdings were at less … [Read more...] about HSBC optimistic about Vietnam stock market despite plunge

The new U.S.-Vietnam Cooperation Center is a partnership between the Public Affairs Section of the U.S. Embassy in Hanoi and DAV and is located on the academy’s campus. This partnership highlights not only the importance of the U.S.-Vietnam relationship, but also the close cooperation between the U.S. Embassy in Hanoi and DAV. It also demonstrates the U.S.’s commitment to supporting the development of a strong, prosperous, and independent Vietnam. The U.S.-Vietnam Cooperation Center at DAV joins the American Hangout at Thai Nguyen University as the second American Spaces partnership in northern Vietnam, building on the success of American Center Hanoi’s popular STEM, English, career skills, women and youth empowerment, and environmental programming. “It joins over 600 other American Spaces around the world, which encourage open dialogue and build bridges of understanding by serving as study centers for students and communal spaces for those interested in American culture and … [Read more...] about U.S.-Vietnam cooperation center opens

At his meeting with British Cabinet Minister and President for the 26th United Nations Climate Change Conference (COP26) Alok Sharma, Khai said that Vietnam has been implementing many overall and comprehensive measures in the field of energy transition and growth model transformation towards a green and circular direction to realize commitments made at COP26. The official underlined that ensuring energy security for growth and reducing emissions at the same time is a very complicated problem that requires the support of the international community in terms of resources, technology, and governance capacity. Therefore, he said that Vietnam hopes that the U.K., the European Union (E.U.) and other member states of the Group of Seven (G7) will soon make specific commitments to supporting Vietnam in this area. For his part, Sharma held that Vietnam has made a proper decision to announce the net-zero emission commitment at the COP26, lauding Vietnam’s efforts to realize the commitments, … [Read more...] about Deputy PM busy with meetings on threshold of WEF meeting

Hue noted that economic cooperation and trade between Vietnam and Greece have seen positive progress, especially since the E.U. - Vietnam Free Trade Agreement (EVFTA) took effect. He proposed that the two countries continue to promote collaboration in areas of Greece’s strength and Vietnam’s demand such as maritime economy, shipbuilding, seaport, and tourism, while working together to reach a double taxation avoidance agreement and another on maritime transportation to create favourable conditions for economic exchange and trade. The N.A. leader thanked the Greek parliament for ratifying the EVFTA, suggesting that it hasten the act on the E.U. - Vietnam Investment Protection Agreement (EVIPA) as well as the removal of the “yellow card” on Vietnamese fisheries sector. The two sides should work closely together to optimise advantages from the two deals, protecting the legitimate interest of businesses of both countries during their investment and business activities in each other’s … [Read more...] about N.A. leader meets Greek President in Hanoi

Education World Forum 2022 will make a valuable contribution to Vietnam's broader education partnerships and development as a leading economy of the future. Education World Forum 2022 (EWF) has supported Vietnam to find opportunities for sustainable education partnerships, Vietnamese Ambassador to the UK Nguyen Hoang Long has said. While attending the four-day EWF 2022 in London from May 22-25, Long stressed that EWF is a great opportunity for Vietnam to learn about cooperation between the UK and other countries, not only in the field of education but also economy. “The Vietnamese Government regards high quality human resources education as one of the strategic breakthroughs for sustainable development of the country. The basic and comprehensive renewal of the education system is currently our key mission for international integration,” Long said. The ambassador added that Vietnam wishes to cooperate with the UK to fulfill the commitments made at the 26th UN Climate Change … [Read more...] about Vietnam seeks opportunities for sustainable education partnerships

The center will be a platform for educational and cultural programming, research support, and academic services. The new US-Vietnam Cooperation Center has officially come into operation after a ribbon-cutting ceremony at the Diplomatic Academy of Vietnam (DAV), 69 Chua Lang Street, Hanoi. Speaking at the opening ceremony on May 25, US Ambassador Marc Evans Knapper said the center joins over 600 other American Spaces around the world, which encourage open dialogue and build bridges of understanding by serving as study centers for students and communal spaces for those interested in American culture and values. Participants at the US-Vietnam Cooperation Center's ribbon-cutting ceremony. Photo: US Embassy to Vietnam This partnership highlights not only the importance of the US-Vietnam relationship but also the close cooperation between the US Embassy in Hanoi and the DAV. It also demonstrates the US’ commitment to supporting the development of a strong, … [Read more...] about New US-Vietnam Cooperation Center inaugurated in Hanoi

Unlike previous trading sessions, the demand for pillar stocks remained until the end of the trading session, instead of being sold off at G hour. The VN-Index rallied robustly by 14.57 points, or 1.2 percent, to close at 1,223.38 points. Although the VN-Index regained strongly, the number of winners and losers was quite balanced, with 224 advancers compared to 210 decliners. However, the number of gainers completely dominated the VN30 basket, with 26 gainers compared to four losers, namely HPG, KDH, PLX, and SAB. The driving force for the VN-Index continued to come from MSN, with an increase of 4.3 percent. The steadiness of MSN was the motivation for the rest of the stocks in the VN30 basket, such as GAS, VNM, FPT, VRE, VCB, TPB, STB, SSI, PNJ, and CTG. The bright spot in the trading session also included banking and securities stocks. After the previous series of corrections, this stock group simultaneously recovered thanks to the appearance of the bottom-fishing cash flow. … [Read more...] about VN-Index revives 15 points

Vice Secretary of the HCMC Party Committee Nguyen Ho Hai  (C) visits a display booth at the exhibition. The event attracts 160 display booths featuring the city’s key agricultural products , high-quality OCOP products and eco-friendly goods. The exhibition is a chance for farmers and participating units to introduce and promote their products; exchange and share experience in production, consumption, and trade of goods, and information on new technologies in the agricultural sector. The exhibition is divided into four areas, including outstanding agricultural products, OCOP and key products of the Department of Agriculture and Rural Development, products of startups and activities supporting farmers in digital transformation and participation in the digital economy. Vice Chairman of the HCMC People's Committee Vo Van Hoan (R) meets representatives of participating units in the event. The exhibition also includes a seminar on seeking measures to develop OCOP … [Read more...] about HCMC’s farm produce exhibition opens in Thu Duc City

The agreement was reached during the meeting between Defense Minister General Phan Van Giang and his Cambodian counterpart General Tea Banh at the headquarters of the Vietnamese Ministry of National Defense (MND) on May 23. At the reception for General Tea Banh, who is also Cambodian Deputy Prime Minister, the Vietnamese defense chief expressed his delight at the success of the first Vietnam - Cambodia border defense friendship exchange, confirming that it importantly contributed to promoting the solidarity and friendship between the two countries. General Giang congratulated Cambodia on hosting the 32nd Southeast Asian Games (SEA Games 32) next year, and the Cambodian Ministry of National Defense on the successful organization of the freshly-concluded ASEAN Defense Senior Officials’ Meeting (ADSOM) and ADSOM Plus. Stressing that the Vietnamese MND will continue to closely cooperate and support the Cambodian counterpart in assuming the role of ASEAN Chair in 2022, General Giang … [Read more...] about Vietnam, Cambodia to strengthen defense cooperation

Hanoi (VNA) – The following is a brief review of the day’s events as reported by the Vietnam News Agency on May 24. - Deputy Prime Minister Le Minh Khai on May 23 led a Vietnamese delegation to attend the 52nd World Economic Forum (WEF) annual meeting. He proposed the establishment of a food innovation hub for Southeast Asia in Vietnam when addressing the “Averting a Global Food Crisis” session, a panel discussion with World Food Programme Executive Director David Beasley, UAE Climate and Environment Minister Mariam Mohammed Saeed Al Mheiri, Tanzania’s Vice President Philip Isdor Mpango, and CEO of the Swiss agriculture company Syngenta, J Erik Fyrwald. Read full story - The Ministry of Foreign Affairs and the US Embassy on May 24 co-organised a ceremony to inaugurate the US-Vietnam Cooperation Centre at the Diplomatic Academy of Vietnam (DAV)’s campus in Hanoi. The new centre is an outcome of the partnership between the embassy’s Public Affairs Section and the DAV which … [Read more...] about ☕ Afternoon briefing on May 24