Positive sign scorpio

Vietnam and Japan on Sunday jointly inked three agreements, valued at 61 billion yen (US$442.5 million), to fund new-generation official development assistance (ODA) projects in Vietnam. Of the total, 50 billion yen ($362 million) will be poured into a new-generation ODA program on post-pandemic socio-economic recovery and development. The rest will finance a project improving the public transportation system in southern Binh Duong Province and another one enhancing the infrastructure system for agricultural development in the Central Highlands province of Lam Dong. The signing of these ODA deals was witnessed by Vietnamese Prime Minister Pham Minh Chinh and his Japanese counterpart Kishida Fumio during the former’s trip to Japan for attending an expanded summit of Group of Seven (G7) nations, which took place from May 19 to 21. After the signing ceremony for the agreements, PM Chinh held talks with his Japanese counterpart. This is the first Vietnam-Japan high-level … [Read more...] about Vietnam, Japan sign new-generation ODA deals worth over $440mn

A woman performs a transaction on mobile phone at Bao Viet Securities' office. — VNA/VNS Photo The stock market is expected to see more investment opportunities for the medium and long term in the second quarter of 2023, according to analysts. In its latest report, BSC Securities Company said that the market witnessed strong divergence among industry groups in the first quarter of the year. Particularly, the financial, material, and energy sectors all posted better performances than the benchmark VN-Index. The securities firm also lowers its GDP growth forecast to 5.8 per cent in the positive scenario, compared to 6.7 per cent in early 2023, and to 5.3 per cent in the negative scenario, the report said. Many signs show that production activity is weakening while the real estate industry is still facing many challenges. In the first four months of the year, import and export value growth also declined. However, the macro situation has shown some positive signs, as inflation … [Read more...] about Stock market sees signs of rallies in the second half

A woman performs a transaction on mobile phone at Bao Viet Securities' office. (Photo: VNA) Hanoi (VNS/VNA) - The stock market is expected to see more investment opportunities for the medium and long term in the second quarter of 2023, according to analysts. In its latest report, BSC Securities Company said that the market witnessed strong divergence among industry groups in the first quarter of the year. Particularly, the financial, material, and energy sectors all posted better performances than the benchmark VN-Index. The securities firm also lowers its GDP growth forecast to 5.8% in the positive scenario, compared to 6.7% in early 2023, and to 5.3% in the negative scenario, the report said. Many signs show that production activity is weakening while the real estate industry is still facing many challenges. In the first four months of the year, import and export value growth also declined. However, the macro situation has shown some positive signs, as … [Read more...] about Stock market sees signs of rallies in second half

Vietnam will use 50 billion yen of this funding for the new-generation ODA (Official Development Assistance) budget support program for post-Covid-19 socioeconomic recovery and development, and the rest for the development of transport infrastructure and agriculture projects in the southern province of Binh Duong and and the central highlands province of Lam Dong. On Sunday, Chinh also held talks with Kishida on the occasion of partcipating the G7 Summit in Japan's Hiroshima. Japan is the largest provider of concessional ODA to Vietnam, with 2.98 trillion yen ($21.6 billion). Japan's ODA accounts for over 30% of bilateral aid to Vietnam. The two PMs said that the two countries would discuss the possibility of Japan providing new generation ODA for large-scale strategic infrastructure development projects, such as the North-South expressway, urban railways, green transformation, and medicine. These loans will have high incentives, with simpler and more flexible procedures than … [Read more...] about Vietnam, Japan sign three ODA projects valued at $500M

At the signing ceremony (Photo: Su That (Truth) National Political Publishing House) Hanoi (VNA) – Vietnam’s Su That (Truth) National Political Publishing House and the People's Publishing House of China signed a cooperation agreement for the 2023-2028 period, and a copyright contract for the second volume of the book “Xi Jinping Tells Stories” on May 23 in Hanoi. The two publishing houses have set up and maintained cooperative ties since the 1960s. As important publishing units of the Communist Party of Vietnam and the Communist Party of China, the two sides have implemented effective cooperation in the field of publishing, and made positive contributions to cultural exchange between the people of Vietnam and China. Under the newly-signed agreement, the two agencies will cooperate in building a mechanism for exchange and publication consultation with the periodic provision and introduction of necessary information related to publications. They will also introduce key … [Read more...] about Vietnamese, Chinese publishing houses sign deals

Chief of Staff of the Coast Guard Region 3 Command Senior Colonel Nguyen Minh Khanh and Director of the MRCC III Nguyen Bao Anh co-chaired the conference. Under the deal, the two units will promote coordination in exchanging information, supporting each other in search and rescue missions, giving recommendations to higher levels to deal with arising issues in a timely and effective manner, and implementing the “four on-the-spot” motto in search and rescue at sea. Meanwhile, both sides will organize training activities and exercises to raise expertise, carry out dissemination activities among fishermen and ship owners to raise their awareness of ensuring safety for personnel and vehicles during maritime activities and other activities taking place at sea, among others. Over the past years, the MRCC III and the Coast Guard Region 3 Command have clearly defined their position and missions in coordination activities in search and rescue at sea while promoting practicing search and … [Read more...] about Coordination regulation on search and rescue at sea signed

Vietnamese Prime Minister Pham Minh Chinh on Saturday met with U.S. President Joe Biden and his counterparts from other countries at an expanded summit of the Group of Seven (G7) countries in Japan. The Vietnamese Cabinet leader told President Biden that the Vietnam-U.S. bilateral ties have increasingly shown positive signs, with economic and trade cooperation being the focus. Biden spoke highly of the outcomes of the phone talks with Vietnam’s Communist Party General Secretary Nguyen Phu Trong. The two leaders also exchanged ideas on several measures to boost the bilateral ties as well as other international and regional issues of mutual concern. In addition, they agreed to maintain the exchange of all-level delegations. Vietnamese Prime Minister Pham Minh Chinh (L) and U.S. President Joe Biden pose for a photo at the expanded G7 summit. Photo: Vietnam News Agency At the event, Vietnamese Minister of Foreign Affairs Bui Thanh Son met with his U.S. … [Read more...] about Vietnamese PM Pham Minh Chinh meets US president at G7 summit

Inside a factory of Hoa Phat Group (HPG). Since the beginning of 2023, domestic construction steel prices have witnessed five-six downward adjustments, depending on different brands. — Photo courtesy of Hoa Phat Group Many fluctuations in the domestic and foreign financial-economic markets have appeared, causing steel enterprises to adjust their business plans. The freezing of the Chinese real estate market, falling prices of rebars in China, Viet Nam’s EVN raising electricity prices, and the State Bank lowering interest rates for the third time will all impact the resilience of businesses in the steel industry in the short term. Domestic and world steel prices fell sharply Since the beginning of 2023, domestic construction steel prices have witnessed five-six downward adjustments, depending on different brands. After the adjustments, construction steel is at the prices of VND14.62 million to VND15 million per tonne for CB240 coil steel and about VND15 million to VND15.5 … [Read more...] about Market instabilities cause steel firms to adjust business plans

Workers making garment products at a factory in Bim Son District, Thanh Hoa Province. — VNA/VNS Photo Many textile companies are struggling as they have to reduce employees due to shrinking revenues. The slowdown of global economic growth has affected manufacturing activities across industries, including textiles. In the first quarter of the year, Vietnamese textile and garment exports decreased nearly 18 per cent on-year to more than US$7 billion, according to General Department of Vietnam Customs statistics. The April data continued to show not very positive signs, with an export value of $2.5 billion, down nearly 20 per cent over last year. The industry continues to face challenges shortly due to a sharp decrease in purchasing power from major markets such as the US and European Union (EU), the recent textile industry report of KIS Vietnam Securities showed. Many businesses have not had orders for the rest of the second quarter. Inventories at major foreign … [Read more...] about Listed textiles enterprises face negative prospects this year

Workers making garment products at a factory in Bim Son district, Thanh Hoa province. (Photo: VNA) Hanoi (VNS/VNA) - Many textile companies are struggling as they have to reduce employees due to shrinking revenues . The slowdown of global economic growth has affected manufacturing activities across industries, including textiles. In the first quarter of the year, Vietnamese textile and garment exports decreased nearly 18% on-year to more than 7 billion USD, according to General Department of Vietnam Customs statistics. The April data continued to show not very positive signs, with an export value of 2.5 billion USD, down nearly 20% over last year. The industry continues to face challenges shortly due to a sharp decrease in purchasing power from major markets such as the US and European Union (EU), the recent textile industry report of KIS Vietnam Securities showed. Many businesses have not had orders for the rest of the second quarter. Inventories at … [Read more...] about Textile enterprises face negative prospects this year