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“After seeing generally mixed performances by a trio of newly public companies this month, VNG was advised to hold off until market demand improves,” an inside source disclosed to Bloomberg . While VNG remained reticent on the matter, the strategic pause mirrors a broader caution in the tech IPO space. Notably, both Arm Holdings Plc, the SoftBank Corporation affiliate, and delivery service Instacart experienced their stocks trading beneath their IPO valuations. VNG, which debuted as Vinagame in 2004, has transitioned from its initial gaming focus to become a diversified digital powerhouse in Vietnam, offering an array of services from video streaming and news portals to mobile payments. The company has contemplated a US listing since 2017. Before this revision in plans, the gaming and communications conglomerate had intimated an intention to offload approximately 22 million shares in its proposed IPO, though pricing details remained under wraps. In 2021, VNG was contemplating … [Read more...] about VNG delays US IPO amid subdued market appetite

Illustrative image (Source: AFP/VNA) Hanoi (VNA) – In the context that about 70 countries and territories have applied carbon pricing instruments, experts held that Vietnam should also apply such tools, especially by developing the domestic carbon market, in order to support the realisation of the country’s greenhouse gas (GHG) emissions reduction target. Following the Paris Climate Accords , Vietnam must fulfill its mandatory obligation to reduce greenhouse gas emissions from 2021 according to the Nationally Determined Contribution (NDC). The country also needs to make efforts to reduce GHG emissions towards the goal of net-zero emissions by 2050. Statistics show that carbon pricing tools control about 23% of total global emissions in 2023. In Vietnam, the voluntary exchange of carbon credits with the world has been carried out by businesses since the mid-2000s in projects and programmes under the Clean Development Mechanism (CDM) - a United Nations-run carbon offset … [Read more...] about Vietnam makes efforts to develop domestic carbon market

Harvesting dragon fruits for export in Long An Province. Việt Nam hopes to be allowed official export of dragon fruit to China this year. — VNA/VNS Photo China is the largest export market of Vietnamese fruits and vegetables, accounting for nearly 65 per cent of the total fruit and vegetable export value, according to Đặng Phúc Nguyên, general secretary of the Việt Nam Fruit and Vegetable Association. Besides durian, Việt Nam hopes to be granted official export permission for jackfruit and dragon fruit to this market from now to the end of this year. With increasing quality, Vietnamese fruits are popular among Chinese consumers. The fruit exports are forecast to maintain growth, especially with increasing demand during the holiday season. Last year, Việt Nam signed fruit protocols with China, bringing many advantages to Việt Nam's fruit and vegetable export activities. Phùng Đức Tiến, Deputy Minister of Agriculture and Rural Development, said that Việt Nam would continue … [Read more...] about China is the largest export market of Vietnamese fruits and vegetables

Sa Pa is one of the top Asian destinations not to miss in autumn, according to The Travel. (Photo: VNA) Hanoi (VNA) – The Mekong Delta city of Can Tho and the northern town of Sa Pa have been named among the top 10 underrated Asia destinations for visitors to enjoy in winter by Canadian travel site The Travel . Cai Rang floating market in Can Tho city has long been an enticing tourism feature of the Mekong Delta. (Photo: VNA) “This is a good place to connect to the amazing culture of the place, as travelers can see people exchanging products and services all day long,” The Travel wrote. VNA … [Read more...] about Sapa, Can Tho among most attractive autumn destinations: The Travel

Phan Van Son, director of General Department under the Commission for Management of State Capital at Enterprises In Vietnam’s quest for economic prosperity, the Commission for Management of State Capital at Enterprises (CMSC) stands out as a sentinel overseeing the ownership in 19 pivotal state-owned enterprises (SOEs), each playing diverse roles across 16 varied sectors. According to Phan Van Son, director of General Department at the CMSC, the journey, while dotted with accomplishments, has many challenges. “The commission acts as a dedicated agency, symbolising state ownership in enterprises, rendering them guardians of state assets,” said Son. According to Son’s presentation at VIR ’s seminar titled 'Looking Back and Moving Forward' on September 26, by 2022, these 19 SOEs have witnessed a surge in their consolidated total capital and assets, touching $48.7 billion and $105.2 billion respectively, reflecting a substantial 63 per cent of total state ownership capital and … [Read more...] about CMSC navigates reforms and challenges at SOEs

The De Heus Can Tho Aqua Feed Mill is designed with a total capacity of 240,000 tonnes annually and is dedicated to producing basa fish feed. All products are manufactured using state-of-the-art European and United States production technology. The entire production process, from input to output, is controlled by a fully automated system and strictly managed in accordance with ISO 22000, BAP and GLOBAL G.A.P. standards. Speaking at the ceremony, Koen De Heus, CEO of De Heus Animal Nutrition said, "We strongly believe white fish products are among the most healthy, delicious and sustainable animal protein products. Therefore, De Heus is actively investing in building our capabilities in this sector, especially in Asia and Africa. Vietnam is positioned well to become one of the world’s most important sources of aquatic proteins. We are committed to keep developing our strategic position in Vietnam together with our local and international partners.” Johan van den Ban, CEO of De … [Read more...] about De Heus opens $20 million aqua feed mill in Can Tho

SKC Co. Ltd. (SKC), a subsidiary of the SK Group , has received an investment certificate to develop a high-tech biodegradable materials factory in the northern port city of Hai Phong. With the total investment capital of $500 million, the factory specialises in producing biodegradable materials such as polybutylene adipate terephthalate and polybutylene succinate. The project spreads across an area of 32,089 square metres in the Haiphong I DEEP C Industrial Zone in the Dinh Vu-Cat Hai Economic Zone. In the first phase, the project will start construction in mid-December 2023, slated to be completed within nine months. The project is expected to reach an output of 35,000 tonnes by year-end. In the second phase, the company will increase the total output to 70,000 tonnes per year. Woncheo Park, CEO of SKC under SK Group said, "SK Group has invested about $3 billion in Vietnam over the past five years. Currently, Hai Phong is one of the countries with the most modern … [Read more...] about South Korea’s SK Group continues to deepen investment in Vietnam

According to the latest report of UOB, after starting off the year at a sluggish pace, with real GDP growth in Q1 decelerating to 3.28 per cent on-year, from 5.92 per cent in the previous quarter, growth momentum in Vietnam remained lethargic, largely due to weak external demand coupled with an underperforming manufacturing sector. As a result, economic growth in Q2 expanded just 4.14 per cent on-year, for a cumulative growth rate of 3.72 per cent on-year in H1, well below the official growth target of 6.5 per cent. In terms of sectoral performance, manufacturing (including construction), which accounts for about 34 per cent share of the economy, managed to gain about 1.1 per cent on-year in Q2 with a positive contribution in H1. Meanwhile, the services sector (43 per cent share) managed to cushion some of the weaknesses from the external sector, rising 6.1 per cent on-year in Q2 following the 6.6 per cent on-year run in Q1. The services sector contributed 2.7 percentage points, … [Read more...] about Soft momentum likely for Q3: UOB

Vinh Long’s pottery village along Co Chien river (Photo: VNA) Vinh Long (VNA) – The southern province of Vinh Long is located between the two big branches of the Mekong River - Tien Giang and Hau Giang. For thousands of years, under the alluvial layer of the two rivers, deposits of rare and precious clay have been formed. They clay is the raw material to make red ceramic products, which Vinh Long is famous for. The pottery village along Co Chien river is known as the kingdom of red ceramics with more than 1,000 mushroom-shaped pottery kilns, some of them are up to 12 metres high. At first glance, the village looks like an ancient city with red castles under the sun. The village has become a popular destination for tourists. Red clay is only found in Vinh Long, mostly in its two districts of Long Ho and Mang Thit. More than a century ago, Vinh Long people began to exploit clay mines on the banks of the Co Chien River to make brick, and from then the largest brick and … [Read more...] about Vinh Long’s pottery village – kingdom of red ceramics

At the opening ceremony of De Heus Vietnam's aquatic feed plant in the Mekong Delta city of Can Tho on September 26 (Photo: VNA) Can Tho (VNA) – The Dutch-based supplier of animal nutrition products De Heus freshly opened a 2.7ha aquatic feed plant in the Mekong Delta city of Can Tho on September 26. Locating at the Tra Noc II Industrial Park in O Mon district, the 18.6 million USD facility is capable of manufacturing 240,000 tonnes of high-quality feed products for tra and basa fish (Pangasius) per year. At the opening ceremony, Deputy Minister of Agriculture and Rural Development Phung Duc Tien took note of the corporation’s contributions to Vietnam’s aquaculture development. He suggested it study the use of domestically available sources of raw materials and alternative ingredients to reduce production costs and enhance efficiency. Realising Vietnam’s advantages to be among key seafood suppliers globally, De Heus is committed to developing its strategic position in … [Read more...] about Netherlands’ De Heus opens aquatic feed factory in Can Tho