Market

Inside a factory of Hoa Phat Group (HPG). HPG increased 5 per cent on Monday. — VNA/VNS Photo Vietnamese shares on Monday surpassed the 1,200-point mark, underpinned by steel and banking stocks. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index increased 1.46 per cent, to 1,202.82 points. The benchmark last week registered a weekly decrease of 2.6 per cent. Nearly 527 million shares were traded on the southern bourse, equivalent to VND12.3 trillion (US$529 million). Market breadth was positive with 116 losers and 340 gainers. In the banking group, most of the stocks gained ground including Military Bank (MBB), Techcombank (TCB), Bank for Investment and Development of Viet Nam (BID), VietinBank (CTG), Viet Nam International Commercial JS Bank (VIB) and Saigon-Hanoi Commercial JS Bank (SHB), and Tien Phong Bank (TPB). Vietcombank (VCB) was the only decliner in the group. Steel stocks also attracted cash flow with gainers including Hoa Sen Group (HSG) rising 5.3 per … [Read more...] about Market surpasses 1,200-point mark thanks to steel, banking stocks

International School Ho Chi Minh City featured in Queen’s Official Platinum Jubilee Pageant Commemorative Album Dan Truong set to excite audiences at Sun Fest concert Schneider Electric launches inaugural Global Partner Recognition Program Dettol joins hands with HCMC University Medical Center to celebrate World Hand Hygiene Day Capella Hanoi Hotel ranked among top 100 in the world Marc-Antoine Lucchini, Head of Foundation and General Medicines at Sanofi , recently had a business trip to several Asian countries. Among those countries, Viet Nam was highly evaluated for its potential market for healthcare development. The effort of digital transformation and sustainability commitment from Sanofi Like many countries, Viet Nam is facing heavy burdens of morbidity and mortality caused by non-communicable diseases. Being able to control risk factors, improve disease prevention, make early diagnoses and manage treatments of such … [Read more...] about “Viet Nam is a promising market for healthcare,” Senior global leader of Sanofi shared of his business travel to Asia.

Marcel Schröder, Economist, Economic Research and Regional Cooperation Department Asian Development Bank At the beginning of the conflict, the crude oil price breached $130 per barrel in March, the highest since 2008. Since then, it retreated to about $100 in April, before rising again to $120 following the European Union’s partial ban on Russian oil in May. Some worry that the oil price could spike to $200 per barrel in the coming months and how such a shock would impact the economic prospects of Asia’s developing countries. While many institutions, including ours, project a significantly higher oil price in 2022 compared with 2021, these predictions do not foresee $200 per barrel because they attach a low probability of a sudden shock to the global oil supply. A sudden shock is unlikely given the EU’s decision to gradually phase out Russian oil imports by the end of 2022, allowing an orderly transition to alternative supplies and keeping prices stable and affordable for … [Read more...] about Additional oil spike impacts cannot be ruled out

Representatives cut the ribbons to open the programme. — VNA/VNS Photo A programme to introduce Vietnamese goods and foods in the UK is underway at Longdan Supermarket in Crawley, about 45km south of London. The week-long event, which started on Sunday, is hosted by the Vietnam Trade Office under the Vietnamese Embassy in the UK, in collaboration with the Vietnam Business Association in the UK (VBUK), and Longdan and EUTEK groups. As part of activities in the trade promotion programme of the Vietnamese Ministry of Industry and Trade (MoIT), the event aims to promote high-quality Vietnamese products that are benefiting from the UK-Viet Nam Free Trade Agreement (UKVFTA) to British retailers and consumers. Handicraft products, coffee, fresh and dried fruits, canned fruit juice, vermicelli, dried noodle, rice papers, cashew nuts, and fragrant rice from reputable export enterprises of Viet Nam are being displayed at the supermarket and Vietnamese markets in Nottingham. At the … [Read more...] about Vietnamese goods, foods introduced in UK

Hoang Manh Hue, President of the Union of Vietnamese Business Associations in Europe, said that the community has made great strides in recent years, with encouraging successes, and become an effective bridge between the Vietnamese and European markets. They not only import a lot of commodities from Vietnam into the European market and the supply chain of businesses in the host countries, but also have been very successful in building a stable and efficient business model in accordance with the host countries’ laws, Hue added. N.A. Chairman Hue said that Vietnamese enterprises in Europe play an important role in introducing and selling Vietnamese products and developing distribution channels for them in foreign markets. The Party and State appreciate the coordination of the overseas Vietnamese community, with the entrepreneur association playing a core role, in helping Vietnam fight the COVID-19 pandemic, he said. Informing participants on the domestic situation, the N.A. … [Read more...] about N.A. Chairman meets Vietnamese enterpreneurs, people living in Hungary

Workers process pineapple for export at the factory of the An Giang Agriculture and Food Import - Export Company. (Photo: VNA) Hanoi (VNA) – Vietnam has recorded impressive growth in exports to Hungary in recent years, statistics showed. Exports from Vietnam to Hungary increased eight-fold to 1 billion USD in 2020 from 124.2 million USD in 2016. The figure stood at 842.7 million USD in the first 10 months of 2021, up 5% year on year, according to data from the European country. Though shipments of agricultural and food products remain modest, the revenue posted a strong increase in the recent past as seen in some key exports. Vietnam exported almost 4.4 million USD worth of processed coffee to Hungary in 2020, surging 38-fold from four years earlier, and 7.13 million USD during January - October of 2021, up 85.6% year on year. Cashew nut exports grew 27.7% to nearly 2.4 million USD in 2020 compared to 2016, and 11.6% year on year to 2.2 million USD in the first 10 … [Read more...] about Vietnam’s exports to Hungary on the rise

The index closed 17.34 points higher after losing 3.4 points Friday. Trading on the Ho Chi Minh Stock Exchange increased by nearly 21 percent to VND12.32 trillion ($529.7 million). The VN-30 basket, comprising the 30 largest capped stocks, surged to the highest in a week with 26 tickers gaining. SSI of leading brokerage SSI Securities rose 6.7 percent, extending its gaining streak to the fourth session in a row. NVL of real estate developer Novaland closed 6.5 percent higher, with trading value highest since last December. Other winners included PNJ of Phu Nhuan Jewelry, up 6.1 percent, and HPG of steelmaker Hoa Phat, up 5 percent. Four bucked the trend, led by VIC of Vietnam's biggest conglomerate Vingroup JSC with a 1.1 percent drop. The ticker is now at a 27-month low, having fallen 42 percent from its peak last April. VNM of dairy giant Vinamilk, and MWG of electronics retailer Mobile World both lost 0.6 percent. VCB of the largest state-owned lender Vietcombank … [Read more...] about Blue chip stocks hit weekly high

Saravoot Yoovidhya, CEO of TCP Group, announced the new corporate purpose in Vietnam From 2022 to 2024, TCP Group is further driving the organisation towards sustainable business growth and creating a positive impact on society and the environment, locally and globally. "Five years ago, we announced the synergy of our various businesses into TCP Group, and we have been working towards sustainable development goals ever since. Up to now, events like COVID-19 and digital transformation have tremendously affected business, society, and the environment. We, therefore, are revisiting our purpose and strategies in every aspect to prepare for the volatile future and to create growth for the organisation while energising the sustainability of the world with a new purpose, called Energising A Better World For All,” said Saravoot Yoovidhya, CEO of TCP Group. Throughout its over 60 years of operation, TCP Group's priority has been to ensure the development of the economy, society, and … [Read more...] about TCP Group’s CEO announced a new corporate plan

Denis Brunetti, president in Vietnam and Myanmar for Ericsson With digital transformation being accelerated in the manufacturing sector, what are the factors for the successful development of smart factories in Vietnam? The next wave of socioeconomic development in Vietnam will be created through innovation, science, and technology, driven by the digital economy. A key component of Vietnam’s socioeconomic development strategy is the digital economy, which will contribute 25 per cent of GDP by 2025 and 30 per cent by 2030. It will also further enhance productivity in all key economic sectors of Vietnam. The new digital economy will be created by scientific and technological advancements and innovation, particularly in areas such as 5G, AI, machine learning, automation, cloud computing, blockchain, and the Internet of Things (IoT). With our global scale and expertise, we look forward to supporting Vietnam with the expanded deployment of 4G and 5G networks moving forward. … [Read more...] about The path to success with smart 5G manufacturing in Vietnam

Cashew exports reduced both in volume and value in the first five months of the year. — Photo congthuong.vn Viet Nam’s cashew exports reduced significantly in both volume and value in the first months of the year, exports for the entire year are forecast to be lower than last year, according to the Viet Nam Cashew Association (Vinacas). Speaking at a meeting to review the industry’s performance in the first half of the year and set plans for the latter half, Tran Van Hiep, Vinacas’ deputy chairman, said cashew exports in the first five months fell by 7.81 per cent in volume and 6.81 per cent in value to 206,111 tonnes and US$1.19 billion, respectively. The average export price was about $5,792 per tonne, up 1.45 per cent over the same period in 2021. Enterprises imported about 968,000 tonnes of raw cashew nuts from abroad worth nearly $1.4 billion, down 35.24 per cent in volume and 37.84 per cent in value in the first five months. But the price of raw cashews imported from … [Read more...] about Cashew exports to slow in 2022 amid global inflation, Russia sanctions