Vietnam wine market

(Illustrative photo: VNA) Hanoi (VNA) – Country General Manager of IBM Vietnam Tan Jee Toon still remembers the first time he set foot on Vietnam seven years ago for his challenging tenure (2013-2015). It was in the final stage of the global financial crisis and at that time Vietnam’s macro-economy dropped to the lowest level. Activating digital technology innovations Assessing Vietnam’s business potential in the new context, Tan Jee Toon underlined that it is easy to see the boom of the retail and property sectors. People’s living standards have significantly improved and investments have been poured into automation, digitalisation and digital transformation. Spearhead areas such as banking and manufacturing have activated initiatives supporting information technology transfer. Country General Manager of IBM Vietnam Tan Jee Toon Tan Jee Toon said that the increase of consulting services on comprehensive digital transformation reflects domestic firms’ demand … [Read more...] about Vietnam promising market for US investors

According to a recent report by the Bank of Korea (BOK), Vietnam is swiftly becoming a significant market for South Korean semiconductor makers, who have been grappling with lacklustre demand in China. As the rivalry between the United States and China intensifies, the BOK has emphasised the importance of diversifying export markets for industry giants like Samsung Electronics and SK Hynix. The BOK underlines Vietnam's emergence as a new source of demand for South Korean semiconductors, highlighting its growing status as an international hub for IT device production and potentially positioning it as a substitute for China in the future. Major smartphone manufacturers have established production bases in Vietnam, where South Korean semiconductors play a crucial role as intermediary goods in the production of finished products, the report notes. Vietnam's abundant low-wage workforce and its proximity to the Chinese market are attracting global businesses, including South Korean … [Read more...] about Vietnam’s market becomes ray of hope for South Korean semiconductor manufacturers

More than 308 metric tons of garbage was plucked from the Cai Rang Floating Market, a popular tourist site in Can Tho City, southern Vietnam, between September 2022 and May 2023, according to a report unveiled at an event on Monday to conclude a cleanup project for the city’s floating markets. Around 30 metric tons of rubbish was also collected from Con Son (Son Islet) during the period, according to the result of the project 'For no garbage in the Mekong River - Piloting the circular economy model at floating markets in Can Tho City' announced at the event held by the Center for Supporting Green Development under the Vietnam Union of Science and Technology Associations. The garbage, including domestic waste, coconut husk, by-products of animal husbandry, and recyclable waste, was treated via the green project. Under the project, household trash was classified as organic waste, recyclable garbage, and other rubbish. Accordingly, organic waste was treated by residents, while … [Read more...] about Over 300 metric tons of trash removed from Vietnam’s floating market

Stay up to date with the latest events in Vietnam. First botulism-poisoned patient dies One of the botulism-poisoned patients under treatment at Cho Ray Hospital in HCM City. Photo courtesy of the hospital The first botulism patient died on the morning of May 25. The 45-year-old man was hospitalized on May 14, along with his two brothers, after eating street food. The three patients were in critical condition while hospitals ran out of botulism antitoxin. On the evening of May 24, HCM City received six vials of botulism antitoxin from the World Health Organization to treat cases of botulism poisoning. Botulism is a rare but severe disease caused by a toxin produced by the bacterium Clostridium botulinum. VNG shares suspended from normal trading The most expensive stock of VNG Corporation (UPCoM: VNZ) on May 25 has been suspended from normal trading and will only be available on Friday trading, according to the Hanoi Stock Exchange. The ban is due … [Read more...] about Vietnam News Highlights for May 25, 2023

Vietnam will use 50 billion yen of this funding for the new-generation ODA (Official Development Assistance) budget support program for post-Covid-19 socioeconomic recovery and development, and the rest for the development of transport infrastructure and agriculture projects in the southern province of Binh Duong and and the central highlands province of Lam Dong. On Sunday, Chinh also held talks with Kishida on the occasion of partcipating the G7 Summit in Japan's Hiroshima. Japan is the largest provider of concessional ODA to Vietnam, with 2.98 trillion yen ($21.6 billion). Japan's ODA accounts for over 30% of bilateral aid to Vietnam. The two PMs said that the two countries would discuss the possibility of Japan providing new generation ODA for large-scale strategic infrastructure development projects, such as the North-South expressway, urban railways, green transformation, and medicine. These loans will have high incentives, with simpler and more flexible procedures than … [Read more...] about Vietnam, Japan sign three ODA projects valued at $500M

A woman performs a transaction on mobile phone at Bao Viet Securities' office. — VNA/VNS Photo The stock market is expected to see more investment opportunities for the medium and long term in the second quarter of 2023, according to analysts. In its latest report, BSC Securities Company said that the market witnessed strong divergence among industry groups in the first quarter of the year. Particularly, the financial, material, and energy sectors all posted better performances than the benchmark VN-Index. The securities firm also lowers its GDP growth forecast to 5.8 per cent in the positive scenario, compared to 6.7 per cent in early 2023, and to 5.3 per cent in the negative scenario, the report said. Many signs show that production activity is weakening while the real estate industry is still facing many challenges. In the first four months of the year, import and export value growth also declined. However, the macro situation has shown some positive signs, as inflation … [Read more...] about Stock market sees signs of rallies in the second half

A Mobile World store in Ha Noi. MWG was one of the stocks behind the market slump yesterday. — Photo vietnambiz.vn The market settled lower yesterday, driven largely by the bearish sentiment toward food and drink stocks. On the Ho Chi Minh Stock Exchange (HOSE), the VN-Index shed its morning gains and began a downward trend at around 1.30pm. In the last minutes of the session, it suddenly ballooned on the back of a short-lived buying force but the buy-in was not large enough to lift it above the reference line. VN-Index ended the session at 1,065.85 points, down 4.79 points (0.45 per cent) compared to the previous session. HOSE-listed decliners outnumbered advancers by 212 to 128, with four stocks hitting ceiling prices and five at rock bottom. HOSE was busy with nearly VND11.8 trillion (US$500 million) worth of shares traded. "Money keeps flowing to the market, indicating that the Sell in May adage might not hold true this time", said an analyst. The VN30-Index echoed the … [Read more...] about Market falls on bearish sentiment

Customers at Saigon Securities Inc's branch. SSI shares rose 3.8 per cent on Monday. — Photo courtesy of SSI Both national stock indices ended the first trading day of the week on a positive note, as a wave of gainers permeated nearly all sectors, reflecting the optimism of investors in the market's outlook. On the Ho Chi Minh Stock Exchange, the VN-Index increased 1.05 per cent to close Monday at 1,074.98 points. Similarly, the HNX-Index on the Ha Noi Stock Exchange rose by 1.22 per cent to end at 220.31 points. Market breadth favoured the buyers at the end of the session, with 661 gainers and 205 losers. The VN30 basket which tracks the top 30 shares by market value and liquidity on the HCM City’s bourse also exhibited positive performance, with 23 gainers, three losers and four closing flat. The liquidity remained high and showed significant improvement compared to previous sessions. Nearly 977 million shares worth VND15.7 trillion (US$665 million) were traded in the … [Read more...] about Investors bet on positive market outlook, indices rise

A Vietcombank employee talks to a customer at its office. The bank's shares surged by 1.5 per cent yesterday, lifting the VN-Index. — Photo courtesy of Vietcombank The Vietnamese stock market inched higher on Tuesday, extending its rally for the second day in a row. However, gains were capped by strong net selling activities by foreign investors. The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 3.07 points, or 0.29 per cent, to close the day at 1,078.05 points. It climbed more than 11.2 points, the biggest intraday gain in two weeks, on Monday thanks to the investor's improving risk appetite. Tuesday's rally helped push the index closer to the resistance level of 1,080 points, and may further test the zone of 1,085 - 1,090 points, according to ASEAN Securities Company. Similarly, analysts from Yuanta Securities (Vietnam) Company said that the benchmark was likely to retest the resistance zone of 1,080 - 1,085 points, and the market would continue its … [Read more...] about Market extends gain on positive sentiment

Thi Vai LNG warehouse, a project of PV Gas. The company's shares soared nearly 2.4 per cent yesterday, leading the market's uptrend. — Photo pvgas.com.vn Benchmark indices finished higher yesterday, buoyed by oil and gas stocks, but gains were capped by losses in banking, manufacturing and real estate sectors and outflows of foreign capital. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index finished the day at 1.064.63 points, up 2.84 points, or 0.27 per cent. It lost over 4 points on Wednesday despite positive news that the central bank cut interest rates for the third time. The market’s breadth was negative as decliners outnumbered gainers on the southern exchange. Meanwhile, liquidity was slightly higher than the previous session, of which the trading value on HoSE rose by 2.63 per cent to more than VND11.7 trillion (US$498.6 million), equal to a trading volume of 669.5 million shares. The 30 biggest stocks tracker VN30-Index also inched up to 1.062.15 points. It … [Read more...] about Market lifted by oil and gas stocks