Self sustaining businesses

The company, which operates the largest casino in the northern province of Quang Ninh, ended its 31st session of consecutive ceiling increase Monday at VND37,750 ($1.64). On January 11, its price was VND5,000. The Ho Chi Minh City Stock Exchange (HoSE), on which RIC is traded, limits stock price increases to 7 percent a day. Vietnam’s benchmark VN-Index, which represents the performance of all tickers on the HoSE, rose 0.009 percent in the period. RIC share price. Photo courtesy of TradingView. A company’s spokesperson told VnExpress that RIC leaders cannot explain the price surge as business was going on as usual and there was no special change in the company’s financial situation. Some stock analysts suspect that large investors are involved in blowing up the price by trading shares back and forth among themselves. The main bourse HoSE had actually placed RIC on a watchlist for having reported losses repeatedly since 2013. Since April last year, it has only allowed RIC shares to be traded in the afternoon. RIC posted a loss of VND82 billion ($3.6 million) last year, taking its accumulated lossses to VND310 billion. It has blamed the loss on increasing number of casinos in the region, which has reduced the number of foreign patrons. Vietnam does not allow most casinos to serve locals. The Covid-19 pandemic has worsened the situation with flight restrictions and its figures are likely to reflect that in the future, it said. …

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Speaking at the kick-start ceremony, Permanent Deputy Prime Minister, Truong Hoa Binh highly appreciated the provincial government that has created advantages for the implementation of the project, towards the sustainable development associated with benefits of business and the community. He hoped the project will become a typical dairy farm in the region and asked ministries and State units to support An Giang and the investor, TH Group to complete the project on time. The project costing VND2,655 billion (US$115 million) will have a herd of around 10,000 cows that are expected to produce 135 tons of milk per day. Besides, the investor plans to build an eco-accommodation site and focus on organic farming and growing to provide agricultural products meeting Global GAP (Good Agricultural Practices) standards. By Ngoc Dan – Translated by Kim Khanh …

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Võ Trí Thành *Võ Trí Thành Việt Nam has outlined its next-decade of socio-development strategy, setting its sights on becoming a developed and upper-middle-income country with modern industry by 2030. However, as success in the past cannot guarantee future triumphs, what are the keys to Việt Nam’s success in the next period? We have talked about Việt Nam’s aspirations to become the next Asian economic dragon and the country has made great strides towards its goals. Amid a volatile world and unprecedented challenges arising from the pandemic, Việt Nam’s success in response to COVID-19 has been praised by international media. To ensure long-term growth, the country is also seeking solutions to key issues such as structural reforms, sustainable and inclusive development and innovation. After many phases of reforms, Việt Nam has basically achieved its goals such as ensuring macroeconomic stabilisation, expanding more opportunities for all economic subjects to develop through institutional reforms, building a socialist market-oriented economy and promoting international integration. Along with that, national capacity has been significantly improved which has been seen in strengthened institutional capacity, reflected in the more efficient State apparatus, enhanced capacity of enterprises through their greater competitiveness and sustainable development strategy and lastly the better-quality human resources. Despite the fast-changing world, lessons and experiences from past reforms have significant value for further success which can be seen in many Vietnamese success stories. When talking about the building of a socialist market-oriented economy, from a centrally planned economy in the early 1980s with little knowledge about the market economy, this has become the red thread throughout the country’s reform process. Việt Nam has learnt and built regulations and good practices for the market through working experience and co-operation with well-known …

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