Ambassador Dang Dinh Quy, head of the Vietnamese Mission to the United Nations, has called on the international community to make constructive contributions to help Myanmar prevent violence, promote an environment conducive to dialogue and reconciliation while respecting the country's principles of independence, national sovereignty, territorial integrity and unity. Myanmar police tighten security in Yangon city (Photo: VNA) During an Arria-formula online meeting of the UN Security Council member states which was co-chaired by the UK, the US, Estonia, France, Ireland and Norway on April 9, Ambassador Quy urged supporting the role of the Special Envoy of the UN Secretary General on Myanmar and creating favourable conditions for the envoy's working trip to Myanmar. He stressed the top priority to ensuring life, security and safety of all, and unobstructed humanitarian aid to those in need of help, especially vulnerable groups in society. He called on parties concerned in Myamar to refrain from violent acts, conduct dialogues and reconciliation according to will and aspirations of the people, for the sake of peace and stability in the region. Quy affirmed that Myanmar is a member state of the ASEAN family and the bloc is ready to help the country in a constructive and peaceful manner via related mechanisms. ASEAN member states, including Vietnam, has been working with parties concerned in Myanmar to promote dialogue and seek solutions to the issue, he said. He also called on the international community to support ASEAN’s efforts and stance, and wished that discussions at the UN and relevant important issues need consultations with ASEAN member countries and others in the region. Rapporteurs at the event expressed concern over current situation in Myanmar and warned about the risks of economic, food and health crises as well as a civil war. Many opinions called for refraining from violence and preventing tension escalation, while asking …
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Poor logistics hinder Mekong Delta agri exports
"Logistic costs accounts for 30 percent of product price, which is an unreasonably high proportion. In Thailand the figure is 12.5 percent, and the average global figure, 14 percent. This hinders Mekong Delta agriculture products from competing with equivalents from Thailand and China," said Pham Tien Hoai, chairman of Hau Giang Business Association. Ngo Tuong Vy, deputy director of Chanh Thu Import-Export Limited Company, specializing in agriculture products, said: "Air transport fees for fresh Vietnamese dragon fruit to Japan is $6 per kilogram." She said fresh fruit need to be well-preserved after harvest so it could be exported by sea to reduce costs. Mekong Delta contributes 90 percent of the country’s rice exports, 65 percent of seafood exports, and 70 percent of fruit exports. It has a total seven ports, of which the largest is Long An International Port in southern Long An Province. The latter can accommodate cargo ships with a capacity of 70,000 tons. The second largest is Cai Cui Port in the Mekong Delta city of Can Tho, which can handle 20,000 ton cargo vessels. It also has 57 inland waterway ports. Experts say the Mekong Delta waterway traffic system is of low quality, limiting the capacity of cargo ships operating in the area. There are only two ways to reach Hau River ports via either Dinh An and Quan Chan Bo estuaries. However, the Dinh An estuary has not been dredged for years and can only handle cargo ships of 3,000 tons. The Quan Chanh Bo estuary can handle cargo ships from 7,000-10,000 tons, but does not have breakwaters, meaning vessels can only operate at low speed to prevent waves from affecting nearby aquaculture projects. Thus, ships normally take a day to pass through the 26-kilometer Quan Chanh Bo estuary. Heads of export firms said Mekong Delta lacks deep-water ports for container ships serving export, besides logistic centers, warehouses and irradiation facilities. Agriculture products from Mekong Delta have to be shipped …
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Corporate bond rush heads for slowdown
With Vietnamese regulators’ efforts to minimise the risks of corporate bonds’ mass issuance, the landscape is predicted to be cooled down compared to a frenzy of debt instruments in the previous period. Corporate bond rush heads for slowdown. According to fresh data from the Hanoi Stock Exchange, as of January 22, there were seven successful corporate bond private placements with a total value of $279 million and two public offerings of $70 million. The real estate sector accounted for $233.7 million, equivalent to 66.9 per cent of the total issued value. Previously, over $17.82 billion of corporate bonds were issued last year, which increased by 38.5 per cent from end-2019 and 83.5 per cent from end-2018. Albeit a decline in the last quarter of 2020’s issuance volume the real estate sector witnessed the largest corporate bond issuance volume in 2020 of over $6.09 billion, accounting for over 35 per cent of total issuance value at an average coupon rate of 10.52 per cent. The banking sector also made up for nearly 30 per cent, with an average coupon rate of 6.69 per cent, lower than 7.06 per cent in 2019. Some significant bond issuers included BIDV, VietinBank, HDBank, and TPBank. The rush of corporate bond issuance has sought attention from yield-hunt investors in the face of ultra-low interest rates. “Rising medium- and long-term capital demands to satisfy stricter regulations on credit safety limits and capital adequacy ratio in 2021 were putting much pressure on commercial banks to raise funds from bond issuance in late 2020,” explained Nguyen Tu Anh, director of the General Economic Department under the Central Party’s Economic Commission. “On the other hand, foreign investors have been closely engaged in the domestic debt market. In 2020, foreign investors were actively net buyers, expect only three months of slight net-selling, with a total net buying value of $179.7 million.” However, the lack of transparency and independent credit …