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A customer performing a transaction at Vietinbank's office in Hà Nội. The lender's shares tumbled 5.85 per cent on Monday, weighing on the market sentiment. — VNA/VNS Photo Shares fell deeply on Monday as the strong selling force weighed on all industries, with many large-cap stocks hitting floor prices. The market's benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) extended last week's bearish trend to the third straight day. It plunged 39.85 points, or 3.34 per cent, to 1,153.2 points. Last week, the index lost 2.8 per cent. The breadth of the market was negative, with decliners surpassing gainers on the southern bourse. Particularly, up to 311 ticker symbols tumbled, of which 110 stocks logged the biggest daily loss of 7 per cent, while only 34 inched up. Liquidity also fell sharply from the previous session, down 27.1 per cent to nearly VNĐ23.5 trillion. This was equal to a trading volume of nearly 1.1 billion shares. The VN30-Index, tracking the 30 biggest … [Read more...] about Market extends downtrend, VN-Index loses nearly 40 points

Keep updated on the latest news about Vietnam. Promoting culture of ASEAN member countries among the youth Delegates attend the event. Photos: VNA The ASEAN Cultural Ambassadors, part of the Southeast Asian Cultural Festival 2023 in Ho Chi Minh City from August 20 to September 24, will select winners for upcoming performances, workshops, and community-oriented initiatives for ASEAN. The competition attracted more than 200 participants from 57 universities and colleges in Ho Chi Minh City, helping to create an environment for students to understand, interact, and experience the cultures of ASEAN member countries . Vietnamese PM expects more support from Brazilian Club Prime Minister Pham Minh Chinh suggested on September 24 (local time) that the Brazilian football club Corinthians help Vietnamese teams in technical, tactical and physical training. He also hoped that more Brazilian footballers would join Vietnam to play for local clubs. … [Read more...] about Vietnam news in brief – September 25

Check out the latest Vietnam news and events. Virtual Art Exhibition Space launched in Hanoi The Virtual Art Exhibition Space. Photo: The Vietnam National Fine Arts Museum The Vietnam National Fine Arts Museum on October 3 launched the Virtual Art Exhibition Space (VAES) in Hanoi, on the occasion of the National Digital Transformation Day (October 10), to make art more accessible to the public and to introduce and promote Vietnamese culture and art through the application of digital transformation. The first version of this online event presents ten galleries, including seven showcasing artworks from the collections of the Vietnam National Fine Arts Museum, the Ho Chi Minh City Museum of Fine Arts, the Hue Fine Arts Museum, and three individual galleries. Vietnam among top cheapest Internet markets At US$10.99 per month, Vietnam ranks 12th out of 219 countries in the world and fourth in Asia with the lowest average cost of broadband, according to … [Read more...] about Vietnam news in brief – October 4

Giants lead green packaging future, illustration photo/ Source: freepik.com About 450 businesses from more than 30 countries and territories will gather for the 16th edition of ProPak in Ho Chi Minh City in November to establish a panorama of equipment and new technology in future food processing and packaging. The exhibition will offer a dynamic business platform that is shaping the future of the processing and packaging industries, particularly in an industry closely impacting the environment like packaging. Food packaging currently accounts for 30-50 per cent of the total packaging industry space, according to statistics from the Ministry of Industry and Trade, leading to a strong symbiotic relationship between the two fields of food and packaging. According to German data provider Statista, the packaging sector has been growing on-year with an average rate of 15-20 per cent, in parallel with the average increase of about 10 per cent of the food and beverages market over … [Read more...] about Giants lead green packaging future

Keijo Norvanto, Ambassador of Finland to Vietnam On behalf of the Embassy of Finland to Vietnam and the Finnish business communities in Vietnam, I would like to congratulate Vietnam Investment Review on its 32 nd anniversary. I would like to express our appreciation to the VIR editors and its dedicated and talented reporters for their continuous work, introducing the Vietnam business environment and opportunities to Finnish businesses. Moreover, VIR ’s continuous cooperation with us provides the audience with Finnish experiences and know-how in education, circular economy, and other advanced technologies. The Vietnamese government committed to net-zero by 2050 and recently joined the Just Energy Transition Partnership declaration that aims to contribute to Vietnam’s sustainable development. In that, Finland possesses globally competitive technology and expertise in many areas, which will help Vietnam achieve the country-set targets. Additionally, our proven … [Read more...] about Defining the role of the press in business

Vietnam’s economic growth is expected to expand by 5.8% in 2023 and later rebound to 6.0% in 2024. Vietnam’s economy remains resilient and recovery is expected to strengthen in the near term driven by strong domestic consumption, which is supported by moderate inflation, accelerating public investment, and improved trade activities. Overview of the launch. Photo: Hai Yen/The Hanoi Times ADB Country Director for Vietnam Shantanu Chakraborty shared this view today [September 27] at the launch of the bank's Asian Development Outlook (ADO) report. "A weak external environment, including from a subdued recovery in China, has hampered export-led manufacturing, resulting in a contraction of industrial production in Vietnam," added Chakraborty. In this context, Vietnam's economic growth is predicted to slow to 5.8% in 2023 and 6.0% in 2024 , compared to the April 2023 forecast of 6.5% and 6.8%, respectively. ADB's Principal Country Economist Nguyen Ba … [Read more...] about Vietnam’s economy remains resilient amid weakening global demand

Amid economic growth, the amount of resources countries consume is increasing and the quality of human life is negatively affected. Most countries are therefore shifting to a circular economy model, striving to avail of sustainable production methods that restore, regenerate, and gradually reduce the amount of resources being exploited and limit emissions. At the launch ceremony of the book “Circular Economy and Pioneering Models” on September 21, Nguyen Hoa Cuong, deputy director general of Central Institute for Economic Management (CIEM), said that with the urgency of implementing the circular economy model, national and regional governments had been taking drastic actions. On the global scale, the EU has an action plan to support the transition process, promoting the control of products’ life cycle, simultaneously having in place a circular economy’s monitoring framework. China has issued the Circular Economy Promotion Law, which is deemed a key strategy in economic and … [Read more...] about Businesses ready for challenges on circular economy transformation

The EU official began implementing the transition period of the Carbon Border Adjustment Mechanism ( CBAM ) from October 1. As a result, iron and steel, cement, and fertiliser manufacturers in Vietnam are required to report total verified greenhouse gas (GHG) emissions embedded in goods exported to the EU. At an event on green steel production at the end of September, Nghiem Xuan Da, chairman of the Vietnam Steel Association, said that the country is taking the first steps to build a carbon-neutral roadmap for the steel industry. "Towards 2025, the steel industry aims to reduce GHG emissions by 10-30 per cent by optimising processes, energy, raw materials, and technology. In 2025-2030, the industry will use low-carbon materials and increase the amount of hydrogen gas in steel factories by 30 per cent," Da explained. Despite the ambition to reduce GHG emissions, the CBAM will pose a major challenge for Vietnamese steel exporters, according to Da. In the first six months of 2023, … [Read more...] about CBAM heralds new journey for sustainable energy use