Vietnam china trade

Having sold head offices and ships, many shipping firms still cannot pay off debts. VSG closed the year 2018 with another big loss of VND54.2 billion, raising the accumulative loss to VND523.77 billion. This was the ninth consecutive year VSG incurred a loss. Its short-term debts were VND528 billion higher than short-term assets. Therefore, the audited firm showed doubts about the operation capability of the shipping firm. VSG’s board of management affirmed that taking a loss is the common situation of shipping firms now, as the shipping fee has been decreasing. Its other business fields, including storehouse and office leasing, could not offset the big loss from shipping activities. VSG shares, listed on UpCom, now have the price of VND1,400 per share, and there are almost no transactions. VSG’s board of management affirmed that taking a loss is the common situation of shipping firms now, as the shipping fee has been decreasing. Its other business fields, including … [Read more...] about Losses continue to engulf Vietnam’s shipping industry

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

SOE equitization and divestment needs greater efforts from all concerned as yet another deadline seems likely to be missed. The CEO of Japan Tobacco (JT), the world’s third-largest tobacco company, recently met with the Chairman of Vietnam’s Committee for the Management of State Capital (CMSC) Mr. Nguyen Hoang Anh in Hanoi and offered to participate in the equitization process of the Vietnam Tobacco Corporation (Vinataba). The Japanese firm has experience in transforming into a private company, as it was once a State-owned enterprise (SOE), and offered to share lessons learned so that Vinataba can improve its corporate governance and performance.  This is fully in line with the government’s ongoing efforts and strategy in recent years to speed up the equitization and divestment process at SOEs, though the country seems almost certain to miss its five-year plan for cutting State ownership in the economy by 2020. Slow progress Prime Minister Nguyen Xuan … [Read more...] about Some way to go in SOE equitization

Escalating trade tensions and rising protectionism have caused a formidable pressure on Vietnamese steel sector.(Photo: VNA) Hanoi (VNA) – Escalating trade tensions and rising protectionism have caused a formidable pressure on Vietnamese steel sector, according to insiders. The Vietnam Steel Association (VSA) has said local steel producers faced difficulties in the first months of 2019 when prices averaged just 650 USD per tonne, a fall of 12 percent compared to the same time last year, driven by trade tensions. Vietnam mainly shipped steel and iron to the markets of the Association of Southeast Asian Nation (ASEAN), the US and the European Union. Although exports to popular partners like Cambodia, Indonesia and Malaysia were kept steady, shipments to two other major outlets - the US and the EU - saw strong declines in both volume and value. Some 285,000 tonnes of steel and iron were exported to the US during January-June, earning the country 223.2 million USD, representing a … [Read more...] about Vietnamese steel faces tough seas

Hanoi and HCMC both have some serious air quality issues to grapple with. After using a “beehive coal” stove at her food stall in Nghia Do Market in Hanoi for more than ten years, Ms. Hong Hanh recently changed to a mini gas cooker. Though the cost is higher, she is happy to accept it after seeing warnings about air pollution in the media and being persuaded by local authorities about the harm coal stoves cause. The latter was among recent efforts by authorities to fight air pollution in Hanoi and also in Ho Chi Minh City, which both have hazy skies these days.  Multiple causes Hanoi’s particularly poor air quality over the last few weeks was the result of low air circulation in the atmosphere during the transition between summer and fall, which has become more common in recent years, according to the Vietnam Meteorological and Hydrological Administration. Air could not rise by convection, so there were no cloud formations to produce rain and cleanse the … [Read more...] about Something in the air