Stock market highs and lows

Phan Thi Hue, head of the Legal Inspection Department under the Vietnam Directorate of Fisheries, noted that the EC will not try to remove the ‘yellow card’ regarding the detection of fishing vessels encroaching in foreign waters. An EC report in May warned that it is likely to impose ‘a red card’ on Vietnamese seafood in the event that violations on fishing regulations are not handled in a quick manner. The EC has therefore highlighted Vietnamese determination and efforts to gradually reduce the number of fishing vessels violating regulations regarding IUU fishing in foreign waters located in the Pacific region. It also spoke highly of the country’s goodwill, co-operation, transparency, and honesty in providing information about the fishing vessel database, as well as issuing a legal framework in line with international standards towards sustainable and responsible fishery management and international integration. Despite this, IUU inspection missions to several localities … [Read more...] about Greater efforts aim to remove Vietnam from IUU fishing warning

Producing wooden furniture for export at Trieu Phu Loc Furniture Co., Ltd, Tan Uyen Town, Binh Duong Province. — VNA/VNS Photo Wooden furniture exports from Southeast Asian markets to Australia grew sharply in the past year, with Viet Nam leading the way on US$205.6 million, up 26.4 per cent year-on-year. Following Viet Nam is Malaysia with $101.9 million and Indonesia with $61.7 million. The proportion of wooden furniture imports from these three markets accounted for 22.9 per cent of the total value of wooden furniture imports into Australia. The Import-Export Department, Ministry of Industry and Trade, quoted statistics from the General Department of Customs saying that the export value of wooden office furniture reached $28.4 million in December, a year-on-year decline of 28.6 per cent. The export value of wooden office furniture reached $370.3 million last year, down 15.9 per cent over the same period in 2021. In the structure of wooden furniture exports last year, … [Read more...] about Viet Nam leads Southeast Asia in wooden furniture exports to Australia

Headquarters of the State Bank of Viet Nam (SBV). After the Fed’s decision to raise its benchmark interest rate by only 25 basis points last week, analysts forecast the SBV may adopt a wait-and-see approach until the end of the first quarter of this year before making the next interest rate hike. — Photo sbv.gov.vn The State Bank of Viet Nam (SBV) might not increase its policy interest rate in the first quarter of 2023 after the US Federal Reserve (Fed) raised its rate by only 25 basis points last week while the Vietnamese dong has strengthened against the US dollar, analysts forecast. According to analysts from financial data provider FiinGroup, the dong has strengthened by about 5 per cent against the dollar since the beginning of December 2022 as the Fed has slowed rate hikes and China has reopened. After the Fed’s decision last week, the analysts forecast the SBV may adopt a wait-and-see approach until the end of the first quarter of this year before making the next … [Read more...] about Central bank forecast to keep policy interest rate unchanged in Q1 2023

Participants in the event that is part of the ASEAN Tourism Forum (ATF) 2023 heard a report and gave comments on the results of the 57th meeting of the ASEAN National Tourism Organizations, considered the agenda of M-ATM+3 (ASEAN plus China, Japan, and the Republic of Korea); M-ATM-India and M-ATM-Russia; and attended consultations with international organizations. The meeting also reviewed and approved the Chairman's Statement and 26th meeting of M-ATM Minutes. Speaking at the event, Deputy Minister of Culture, Sports and Tourism Doan Van Viet said that 2022 witnessed a rapid recovery of the regional tourism industry. Countries reopened borders and lifted travel restrictions related to the COVID-19 pandemic. As a result, in the final months of 2022, the number of international visitors to the region increased rapidly, promoting the recovery of services, and contributing to job creation and overall economic growth. During the transition time of the tourism industry, the ASEAN … [Read more...] about Vietnam attends 26th Meeting of ASEAN Tourism Ministers in Indonesia

A Vietjet aircraft. The company’s revenue in 2022 hit VND32.5 trillion, while profit was limited, reaching only VND215 billion. — VNA/VNS Photo Vietjet Air saw an impressive recovery after the COVID-19 pandemic as it recorded a year-on-year rise of 175 per cent in net revenue to VND7.35 trillion (US$313.4 million), and earned profit of VND902 billion in the last quarter of 2022. The company’s revenue in 2022 hit VND32.5 trillion, while profit was limited, reaching only VND215 billion. It also contributed over VND4.3 trillion worth of direct and indirect taxes, fees and charges to the State budget. Last year, the carrier transported 20.5 million passengers aboard 116,000 flights, in which domestic transport increased by 20 per cent compared to 2019 before the COVID-19 pandemic broke out. Vietjet opened more than 20 new routes in 2022, mainly to the Indian market. As of December 31, 2022, Vietjet had operated a total of 103 routes. In 2023, Vietjet expects high revenue … [Read more...] about Vietjet reports over VND900 billion in profit in Q4/2022

During their meeting, FM Son and Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn were pleased with the fruitful developments of the bilateral relationship in recent times, and agreed to continue promoting the exchange of high-level visits via all channels, enhancing people-to-people exchange; maintaining and optimizing the effectiveness of existing bilateral cooperation mechanisms; fostering economic connections; strengthening cooperation between localities, especially those that share borders; and exerting effort to speed up tourism recovery. They also agreed to accelerate negotiations towards completing the remaining 16% of the land border demarcation and marker planting in order to build a common borderline of peace, friendship, cooperation and sustainable development between the two nations; and closely coordinate at regional and international forums as well as sub-regional mechanisms, and support each other's candidacy to multilateral organizations. Sokhonn … [Read more...] about Foreign Minister meets Cambodian, Philippine, Malaysian counterparts

Prime Minister Pham Minh Chinh speaks at the conference. (Photo: VNA) Binh Dinh (VNA) – Prime Minister Pham Minh Chinh urged the north-central and central coastal regions to create more breakthroughs in development to match their potential and advantages while addressing a conference in Quy Nhon city, Binh Dinh province, on February 5. The conference touched upon the implementation of the Government’s action plan to materialise the Politburo’s Resolution No. 26-NQ/TW dated November 3, 2022 on orientations for socio-economic development and national defence and security in the two regions by 2030 with a vision towards 2045. It was also intended to promote investment in the regions with the theme of “Linkage - Breakthroughs from maritime economy - Rapid, sustainable development.” The regions hold strategic positions and roles of special significance in terms of economy, especially maritime economy, politics, culture, social affairs, environment, external relations, … [Read more...] about PM asks north-central, central coastal regions to create development breakthroughs

Thuy is a third-year Ph.D student at Rutgers University where she is studying applied mathematics. Last October, she submitted her resume to Google in the hope of landing a research internship in the field of science and technology. However, that plan is currently on hold due to the recent layoffs in the sector. "I feel like I’m in limbo," she said. Thuy is disappointed because she put in a lot of work preparing for interviews with companies she had applied to, which have recently put these jobs on hold again due to the current job cuts. The Vietnamese student revealed that she had applied to be an intern at Amazon, but in November 2022, she received a notice saying that the interview had been postponed. And then she surprisingly heard nothing more about her application. It was also disconcerting for Huy Anh, a third-year computer science student at Texas A&M University, to see the social media app Snap Inc let go of 20% of its staff, including his mentor, during the final … [Read more...] about US big tech mass layoffs leave Vietnamese international students in limbo