Rising storm vietnam

Petrol retail prices in the country have been adjusted many times over the past few months, Photo: Le Toan In Vietnam, gasoline prices continue to increase, and after the adjustment on May 11 by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance, each litre of E5 RON92 petrol increased by 6.5 US cents to $1.26 per litre while RON95 climbed by 6.7 US cents to $1.30 per litre. On May 17, the price of US WTI crude oil remained at a high level of over $114 per barrel while Brent oil maintained its upward momentum at $114.28 per barrel. Before the next adjustment, which was due on May 21, petrol prices in Vietnam were forecast to continue to increase to higher levels. The ministries first adjusted gasoline prices on January 11 due to a decrease in global supply, production output by Kazakhstan and Libya, and oil inventories of the United States. According to Decree No.95/2021/ND-CP, effective from January, there will be three adjustments each month to the … [Read more...] about Vietnam riding the wave of inflationary unpredictability

Kevin Coppel, Asia-Pacific managing director (left ) and Christine Li, Asia-Pacific head of research for Knight Frank in Singapore When the US-China trade tensions bubbled over in 2018, corporates found it increasingly difficult to carry out business in China due to sourcing uncertainties and rising costs. This trend only worsened in the face of the pandemic and resulting border closures. Businesses responded by pursuing opportunities to set up bases outside of China while still retaining a stake in one of the world’s strongest economies. The China+1 strategy thus emerged. It is based on diversifying its supply base into other countries in order to minimise the risk of disruptions arising from geopolitical tensions, trade wars and tariffs, as well as rising labour costs. These companies are not abandoning China but rather giving themselves options, enjoying the best of what China and other economies have to offer. In pursuit of the China+1 strategy, the spotlight is naturally … [Read more...] about Will Vietnam become a big geopolitical beneficiary?

Kim Højlund Christensen, Danish Ambassador to Vietnam With the return of tourism and trade activities, can you see any movement from business and investment promotion delegations that are going to visit Vietnam? The Vietnamese government’s recent decision to lift entry restrictions and especially to resume the visa-exemption travel programme for countries, including Denmark, is great news and positively welcomed by the Danish business community. Many Danish companies are already planning their visits to Vietnam this month and early next month to meet with their local business partners in person. At present, there are over 130 Danish companies represented in Vietnam. Therefore, there will be a large number of business visitors and delegations from headquarters in Denmark or other locations in the region coming here in the near future to visit their production facilities or to find new investment opportunities. Besides that, we also expect to have trade delegations visit our … [Read more...] about Danish investors pinpointing rising potential of Vietnam’s green energy

Illustrative image (Photo: VNA) HCM City (VNA) - Up to 21 percent of Indian firms operating or intending to operate in Southeast Asia plan to expand their business in Vietnam in the next two years, and the ratio is 26 percent among Chinese enterprises , according to a HSBC survey covering more than 1,500 companies from six of the world’s largest economies – all of which have operations in Southeast Asia. Regarding advantages of Vietnam, three out of 10 surveyed companies pointed to skilled workforce, while 27 percent cited competitive wage prices and proven economic resilience in response to the pandemic. Currently, 39 percent of Indian companies stated they were attracted by Vietnam’s infrastructure, while 39 percent of US firms said that they are keen on opportunities to develop and test new products/solutions in the market. Particularly, 49 percent of surveyed firms, mostly from China, India and the US, said that they hope to make use of the EU-Vietnam Free … [Read more...] about Vietnam remains attractive to int’l investors: HSBC

Vietnam expecting to spend even more on imports - illustration photo Southeast Asia is facing rising inflation, a problem that is exacerbated by the failure of energy and food prices to fall. Last month, the Monetary Authority of Singapore (MAS) tightened monetary policy for the third time since October to deal with inflation that is expected to heat up. According to analysts, the MAS has redefined the midpoint of the popular exchange rate policy band and slightly increased the slope of currency appreciation to help the Singapore dollar strengthen against the currencies of other countries. However, the MAS did not change the width of its policy band – a move the institution usually would take when markets are volatile. As a result, the Singapore dollar rose about 0.5 per cent to $1.35 after the MAS’ move. The agency considered the possibility that core inflation would pick up sharply in the coming months, before being revised later this year, due to the sharp increase in … [Read more...] about Vietnam expecting to spend even more on imports

Amid growing challenges of global food security, Vietnam would further enhance the exports of food and agricultural products. Vietnam seeks to contribute to peace and stability in Asia and the world and remains steadfast in pursuing an independent foreign policy based on multilateralism and active integration into the global community. Deputy Prime Minister Pham Binh Minh at the event. Source: VNA “The Vietnamese Government considers the people at the center and engine for growth, and is committed to ensuring social justice and advancement, along with a healthy cultural and social environment.” Deputy Prime Minister Pham Binh Minh gave the remarks at the 27 th International Conference on the future of Asia held in Tokyo on May 26. This year’s event, themed “Redefining Asia’s role in a divided world,” focuses on discussing the regional and global situation, for which leaders from countries such as Japan, Vietnam, Laos, Thailand, Singapore, and Cambodia … [Read more...] about Vietnam seeks to contribute to peace and stability in Asia

Vietnam gained an overall score of 4.1 out of seven points, rising by 4.7 percent to leap from the 60 th place in 2019 to the 52 nd place out of 117 economies in the 2021 index, which was released recently by the World Economic Forum. The index measures the factors and policies that enable sustainable and resilient development of tourism from business, safety and health conditions, to infrastructure and natural resources, among others. The WEF report ascribed Vietnam’s improved ranking to its achievements in Covid-19 pandemic prevention, flexible adaptation as well as continuous efforts to develop safe tourism. Vietnam also performed well in price competitiveness, safety and security, air transport and port infrastructure as well as natural resources, it added. Japan tops the ranking, followed by the US, Spain, France, and Germany./. VNA … [Read more...] about Vietnam climbs 8 places in global tourism development index

"The prices of private international schools in Vietnam are out of reason and not to justify. They target embassy and corporate contracts but don't care for individuals paying their school fees out of their own pocket who depend on scholarships and the goodwill of the schools admission. Government should regulate the system. Public schools require Vietnamese language. That's no option for two years to stay." Christian Grajek "Even the famous Harvard demands only 54,002 USD/year. Anyone who sends his/her kids to such schools must be a fool. Money can buy many things, but never the intelligence." jnartca "A waste of money, more so if paid out of own pockets. Speaking of own experience having sent own kids to international schools (companies paid), a total rip-off. Many teachers at these schools are not even qualified to teach and kept moving on to the next country/adventure after a few years. If you have money to spend, better send your kids to really top schools abroad. Just a … [Read more...] about Prices of international schools in Vietnam are out of reason

A child with dengue fever at the HCM City Children’s Hospital. — VNA/VNS Photo HCM CITY — The HCM City health sector says it will take drastic measures to tackle possible dengue fever outbreaks, especially to reduce the number of severe cases and deaths. The HCM City Centre for Disease Control (HCDC) said the city has recorded a surge in dengue cases among children with a high rate of severity due to a delay in hospital admissions and improper or late treatment at home. The city has carried out a campaign since May 15 to mark the 12th ASEAN Dengue Day (June 15) to raise public awareness of the disease and precautions that need to be taken. It is calling on each individual to take simple measures like cleaning water containers, changing water in bottles, vases and tanks, and keeping the house tidy. Doctors said initial symptoms of dengue fever are quite similar to some viral infections and have warned that the onset of the disease can sometimes be the same as that of … [Read more...] about HCM City braces for dengue outbreaks as cases rise

The pandemic has pushed forward the trends of e-commerce in Vietnam 2-3 years earlier than forecast with the sector growing in size four times over last year, according to a 2021 Lazada report. “Some of the e-commerce trends we expected would happen in 2025, such as in edutech and fintech, have already happened in 2022,” noted Nguyen Huy Hoang, chief business officer at OnPoint E-commerce. “Hence, all e-commerce platform companies are investing hugely in Vietnam.” However, as shopping centres and small brick-and-mortar stores are now reopened, many investors are concerned that the boom in e-commerce was just a short-term fad and the majority of consumers could quickly shift back to offline shopping. On May 12 at the Vietnam Online Business Forum, the general consensus amongst experts was that e-commerce will continue to boost the economy after the pandemic. Specifically, in the first quarter of 2022, the industry saw more than 8 million new online consumers. A survey … [Read more...] about All to play for in e-commerce rise