Stock market 1 20 17

Hai An Transport and Stevedoring Joint Stock Company's after-tax profits were up 90% from 2021 at VND1.050 trillion (US$44.49 million); Petrovietnam Transportation Corp's (PVTrans) was up 39% to VND1.16 trillion; and Vietnam Petroleum Transport's (Vipco) rose by 25 times to VND246 billion. Other logistics firms too reported excellent numbers. Gemadept’s after-tax profits surged by 60% to VND1.15 trillion, its second highest since 2000 when it first publicized financial statements. Vosco’s profits decreased by 0.4% to VND490 billion, but were still the second highest since it listed on the stock market. Vinalines said profits fell by 23% to VND2.5 trillion, but were still second only to 2021. According to data from Freightos, one of the world’s largest freight booking platforms, the cost of sending a container from Asia to the U.S. fell by more than 80% late last year. In the third quarter of 2021 it had been at a record $20,000 per 40-foot container. But thanks to the … [Read more...] about Big shipping firms report record profits

Vietnam plans to welcome one million Korean arrivals this year. Jeju Air, South Korea’s biggest low-cost carrier, will resume services on the routes from Incheon to Hanoi and Ho Chi Minh City from April 20, after three years of suspension due to Covid-19, according to Yonhap. South Korean and Vietnamese enterprises attend the 2022 Vietnam Tourism - Culture F estival in Seoul last October. Photo: Toquoc Until late 2019, the budget carrier operated eight routes to five cities, including Danang, Hanoi, Ho Chi Minh City, Nha Trang, and Phu Quoc. Last June, the company restored the connection from Incheon to Danang and Nha Trang, and from Busan to Danang. Jeju Air aims to turn around this year after posting net losses for three consecutive years through 2021 as eased virus restrictions unleash pent-up travel demand. Vietnam expected to receive one million Korean arrivals this year, hoping to make a breakthrough in tourism cooperation in the near future, … [Read more...] about Jeju Air to resume service to Vietnam from April 20

New momentum For over one week now, more than 94% of businesses in the Southern economic hub has resumed their production with over 95% of workers being back to work after Tet holiday. Workers at Go Vap district-based Joint Stock Company 28.1 under the Corporation 28 of the General Department of Logistics, which specializes in garments making, are working with the highest capacity, focusing on orders from the U.S., Australia, and European countries. Working for the company for more than 21 years now, Nguyen Van Hong from Hai Duong province said that good income and policy offered by the company make him feel secure at work. Despite difficulties facing the garment sector due to COVID-19, his company has ensured orders uninterrupted, so workers have resumed work since the beginning of the lunar New Year. In addition, good Tet welfare policy has helped keep workers attached to the company. Senior Colonel Tran Doan Thoan, Director of Joint Stock Company 28.1 informed that the … [Read more...] about Businesses in Ho Chi Minh City speed up production to achieve set targets

In the first quarter, the figures will be 72,000-79,000 or 79,000-87,000, according to the Center for Forecasting Manpower Needs and Labor Market Information (FALMI). Recruitment demands focus on the service sector, with 57.69%, and industries, 20.31%. This year, the city’s labor force is more than 4.8 million people, accounting for more than half of its population. Of the total, more than 2.2 million are female, making up 46.17%. In terms of qualifications, the demand for laborers holding a bachelor’s degree or higher will account for 38%. The number of trained and skilled workers to be employed accounts for 85.78%, of whom 20.19% hold Bachelor's degrees. Source: VNA … [Read more...] about Ho Chi Minh City attracts workers in service, industrial sectors

Deputy governor of the State Bank of Vietnam (SBV) Dao Minh Tu has said that bad debts are climbing for both credit organisations and the wider economy. "It is an ongoing challenge to manage bad debts and banking activities will be seriously affected over the next few years," said Tu. He said that the woes would be revealed more clearly as the ratio of on-balance-sheet bad debt continues to grow due to inflation and interest rate rises. At the end of 2022, bad debts were classified based on the groups of borrowers and economic issues like recovery and inflation curbing. Can Van Luc, a member of the National Monetary and Financial Policy Advisory Council, said that on-balance-sheet bad debt could reach 2.3-2.5 per cent and gross bad debt could hit 6 per cent in 2023, rising into 2024. As the regulations on unchanged debt groups in Circular No.14/2021/TT-NHNN expire, economic recovery could suffer. According to the SBV, at the end of 2022, the ratio of … [Read more...] about Bad debts continue to soar at commercial banks

Despite near-term trade headwinds, tourism has emerged as a source of growth for Vietnam to mitigate the challenges ahead in 2023, according to the “Vietnam at a glance” report released by HSBC on February 6. Foreign tourists visit Vietnam (Photo: VNA) The report stressed that January’s data showed Vietnam continues to face difficulties in trade and the inflationary pressure of increasing prices. However, in spite of slowing trade, there are still pockets of resilience in Vietnam’s economy, and tourism will be a key one in 2023. Following its re-opening last March, Vietnam’s domestic tourism has been soaring, easily surpassing its 2022 target of 60 million to over 100 million tourists. Meanwhile, international tourism, which previously accounted for 60% of tourism receipts, saw a tepid recovery post COVID-19, with tourist arrivals reaching 3.6 million, only 20% of 2019’s level. But there are good reasons to expect a more meaningful recovery, in … [Read more...] about Tourism – a source of growth in Vietnam for 2023: HSBC

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency. - Vietnamese Ambassador to Singapore Mai Phuoc Dung has highlighted the significance of Prime Minister Pham Minh Chinh’s coming official visit to the city state, the first among many events to be held in both countries to mark the 50th anniversary of their diplomatic ties and 10 years of the strategic partnership. PM Chinh, his spouse, and a high-ranking delegation of Vietnam are paying an official visit to Singapore from February 8 to 10. Read full story - Two-way trade revenue between Vietnam and Laos in 2022 grew 24% from the previous year to reach some 1.7 billion USD, beyond expectations of their leaders at the 44th meeting of the Vietnam – Laos Inter-Governmental Committee on Bilateral Cooperation earlier last year. Read full story - Jeju Air Co., the biggest low-cost carrier of the Republic of Korea, said on February 6 that it will resume many routes to Vietnam … [Read more...] about ☕ Afternoon briefing on February 6

At the event. (Photo:hcmcpv.org.vn) Phnom Penh (VNA) – Politburo member and Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen on December 17 held talks with Governor of Phnom Penh Khuong Sreng, during which both officials emphasised the importance of continuing to strengthen the good cooperative relationship between the two cities. HCM City in particular, will pour investment in Cambodia and the capital of Phnom Penh while committing to support them to speed up investment procedures. Cambodia n relationship. The official suggested the two localities enhance their closer coordination to support businesses in accessing market and explore investment opportunities. VNA … [Read more...] about HCM City, Phnom Penh look to strengthen relations

The magnitude 7.8 quake brought down whole apartment blocks in Turkish cities and piled more devastation on millions of Syrians displaced by years of war. It struck before sunrise in harsh weather and was followed in the early afternoon by another large quake. In Diyarbakir in southeast Turkey, a woman speaking next to the wreckage of the seven-storey block where she lived said: "We were shaken like a cradle. There were nine of us at home. Two sons of mine are still in the rubble, I'm waiting for them." She was nursing a broken arm and had injuries to her face. "It was like the apocalypse," said Abdul Salam al-Mahmoud, a Syrian in the northern town of Atareb. "It's bitterly cold and there's heavy rain, and people need saving." The earthquake was the biggest recorded worldwide by the U.S. Geological Survey since a tremor in the remote South Atlantic in August 2021. In Turkey, the death toll stood at 2,316, the Disaster and Emergency Management Authority (AFAD) said, making … [Read more...] about Major earthquake kills 3,700 in Turkey and Syria, weather hits survivors

The 55-year-old can easily spot nesting sites, having been trained in his youth by his grandfather how to track the animals and their eggs, which his family traded at the time or ate. But his egg-stealing days are over. Now Manlugay has turned his skills to helping protect marine turtles on the provincial beaches favored by the endangered Olive Ridley species to build nesting sites. "I've learned to love this work," said Manlugay, who was accompanied by his two dogs. "We didn't know poaching was illegal and that we should not eat turtle eggs and meat." He carefully transferred each egg into his pail, along with some sand from the turtle nests, to be turned over to the group spearheading a conservation program on the beaches, Coastal Underwater Resource Management Actions (CURMA). All five species of sea turtles found in the Philippine archipelago - Green, Hawksbill, Loggerhead, Leatherback, and Olive Ridley - are endangered. Slaughtered for their eggs, meat and shells, the … [Read more...] about Love of sea turtles turns Philippine poachers into protectors