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These institutions focus mostly on settling their own debt and do not engage much in trading, so the overall process is slow and length in Vietnam, said Dr. Can Van Luc, Chief Economist at BIDV, Vietnam’s biggest state-owned bank, at a conference Friday. The country currently only allows two state-owned firms to trade debt: the Vietnam Asset Management Company (VAMC), and the Vietnam Debt and Asset Trading Corporation (DATC); in addition to banks. Vietnam  should open up its debt market to a diverse range of investors as they do in other countries like the U.S., South Korea, China, and Thailand, where the market includes a diverse range of players ranging from investment banks, investment funds, insurance companies, and pension funds to individual investors and professional valuation companies, he said. Vietnam’s market, on the other hand, lacks brokers, professional consultants, and independent asset valuators such as insurance or securities companies. Debt trading is … [Read more...] about Vietnam should open up debt-trading market to private investors: experts

The U.S. market currently accounts for some 47% of Vietnam’s apparel revenue, while the ratio for Vietnamese leather shoe exports is 37%. Therefore, the accelerating trade war will have a significant impact on the nation’s key export products, according to a Nguoi Lao Dong newspaper report. The more opportunities, the more risks The Ministry of Industry and Trade has reported to the prime minister the influences of the U.S.-China trade war, noting the danger of a large inflow of Chinese apparel and leather shoe products. However, from another perspective, the trade war could help Vietnamese firms expand their market share and raise exports to the United States, as international manufacturers will have to transfer their production orders from China to Vietnam. According to Diep Thanh Kiet, vice chairman of the Vietnam Leather, Footwear and Handbag Association (LEFASO), the trade war may not affect the local shoe industry for the next one to two months because the United … [Read more...] about Vietnam’s shoe, apparel export orders to surge

The growth of the agricultural sector hit a 10 year high during the first half of this year. However, export markets have seen unstable developments from the impact of the US-China trade war, the European Commission (EC)’s extension of a yellow card warning on Vietnamese seafood, unpredictable weather and natural disasters are existing difficulties facing the sector in late months of the year. Domestic market faces intense competition as tariffs hit China and the US are the two major export markets for Vietnam’s agricultural products. The tit-for-tat US-China trade war has created dramatic shifts in the import and export policies of the two powerful economies and this will have a knock-on effect on Vietnamese farm produce. Agricultural products from China will have to find alternative markets to make up for the loss of trade resulting from the US’ increase of import duties on Chinese goods. With their plentiful supply, cheap prices and attractive varieties, Chinese … [Read more...] about US-China trade war puts pressure on Vietnamese agricultural products

  Minister of Culture, Sports and Tourism Nguyễn Ngọc Thiện holds the national flag before presenting to Trần Đức Phấn, head of the Việt Nam's SEA Games delegation, at the sending off ceremony on Saturday in Hà Nội. Photo vntintuc.net HÀ NỘI - Việt Nam set a goal to finish in the top three of the Southeast Asian Games’ medal table at the send-off ceremony on Saturday in Hà Nội. The 856-strong contingent including 568 athletes will take part in 43 out of 56 sports in the Philippines. Speaking at the event, Trần Đức Phấn, head of the delegation and deputy head of the Việt Nam Sports Administration, said all athletes were ready and determined to do their best at the regional biennial event. “After months of preparation, we - athletes, coaches and supporting staff - are ready, confident and can’t wait to compete at the … [Read more...] about Việt Nam aim for top three of 30th SEA Games

The Vietnamese fleet continues to decline in quantity, raising concerns that the domestic cargo transportation strategy may not be completed. According to UNTAD, the Vietnamese fleet ranks fourth in ASEAN and 30th in the world. Although the maritime transport sector maintains a good growth momentum, Vietnam's shipping industry is facing huge challenges due to the decrease of the fleet. In 2018, Vietnam had 1,600 ships, but the figure has dropped to 1,568 with the total capacity of 4.8 million GT and total tonnage of 7.8 million DWT. Prior to that, the Vietnamese fleet had 1,849 ships in 2015, not including the ships bearing foreign flags. The difficulties being faced by shipping lines make it difficult to solve the problem. Since 2008, when the world economic crisis occurred, the shipping industry in the world and Vietnam still have been facing big difficulties because of oversupply. Shipping firms all give negative forecasts about business result prospects in 2019. Many firms … [Read more...] about Vietnam’s shipping fleet shrinks