The Hanoitimes - Vietnam`s millennials tend to be more health- and beauty-conscious than earlier generations, and willing to pay a premium for quality. Vietnam cosmetic market sees fast growth: expert Italian firms eye Vietnam cosmetics market India boosts chemicals and cosmetics exports to Vietnam Vietnam’s cosmetics industry prospers The cosmetic market in Vietnam has quickly developed thanks to the fast growth of millennial shoppers who are more aware of health and beauty services. Illustrative photo The Southeast Asian country’s growing ranks of millennials or Generation Y/Gen Y and rising incomes have apparently convinced a number of foreign cosmetic retailers to dive into. Vietnam’s beauty products market has grown at an annual rate of 30% over the past few years, with foreign brands making up more than 90% of sales, according to the Vietnam Essential Oils, Aromatherapy and Cosmetics Association. Vietnamese consumers … [Read more...] about Generation Y fuels Vietnam’s cosmetic market
Y economic growth
Standard Chartered Bank expects Vietnam to grow at a steady 6.9% in 2019, as the focus shifts to sustainable growth. FDI-driven manufacturing and stronger domestic activity is likely to support growth. This forecast is highlighted at Standard Chartered’s Global Research Briefing held on January 16th, in Ho Chi Minh City, drawing senior representatives from over 120 local and foreign corporate clients. The annual event discusses Standard Chartered’s recently published Global Focus - Economic Outlook 2019 report entitled “Fighting the current”, and its latest Global Research report on Vietnam entitled “Vietnam in 2019 – Steady and Sustainable Growth”. The event is part of the 2019 Standard Chartered Global Research Briefing series, which is organised by the Bank in major ASEAN cities to provide its clients in-depth insight and analysis on global, regional and local socio-economic trends that will have an impact on international … [Read more...] about Standard Chartered forecasts Vietnam’s GDP growth at 6.9% in 2019
Vietnam`s local currency (LCY) bond market reached a size of US$51 billion at the end of March while remaining the smallest market in the region, stated ADB. Vietnam's local currency bond market in the first quarter posted the region's fastest growth rate at 8.6% quarter-on-quarter (q-o-q), an acceleration from the 2.7% q-o-q increase posted in the fourth quarter of 2017, according to a recent report by the Asian Development Bank (ADB). Highest growth but still smallest in size The size of Vietnam's LCY bond market reached VND1,173 trillion (US$51 billion) at the end of March, registering growth of 8.6% q-o-q and 17.2% year-on-year (y-o-y), stated the ADB's report on LCY markets in emerging East Asian. While the government and corporate bond segments both saw increases in Q1 2018, growth in the LCY bond market is largely driven by government bonds, which comprise about 94% of the total. Despite the strong growth, Vietnam's bond market remains the smallest in emerging … [Read more...] about Vietnam’s bond market posts highest growth in emerging East Asia: ADB
Vietnam can expect its fintech ecosystem to grow in the near future should it pay attention to the funding issue, growing talent in the field, and a legal framework to support such growth. Vietnam is currently ranked second in the number of incubator, accelerator, and innovation labs in the region, behind only Singapore. This is a positive signal for the development of fintech in Vietnam. The country has another advantage in being a young and digitally savvy economy. As per an EY report, around 90 per cent of payments are still in cash. That is the reason why Vietnamese fintech startups have strong focus on payment—47 per cent specialises in this sub-sector, ranking highest in the region. There are also some fintech associations in Vietnam where fintech startups can gather to update, improve their knowledge, seek support, share experiences, and develop a legal framework for this industry. “Fintech companies are still small in scale and the policies and regulations for … [Read more...] about E&Y: Where is fintech in Vietnam?
Vietnam shares scaled a record high on Monday on the back of gains in financials and real estate stocks, while most other Southeast Asian markets started April on a sombre note. The benchmark Vietnam index rose as much as 1.1 percent to an all-time high of 1,187.55, and has risen more than 20 percent so far this year following a 48 percent gain last year. Real estate firm Vingroup JSC climbed as much as 1.8 percent to a new high and was the biggest contributor to the main index's gain. On March 22, Vietnam's stock market rose by 0.92 percent y to close at more than 1,180 points, the highest since the record of 1.179 points set in 2007. Philippine shares were little changed in choppy trade with financials being the top losers. The decline in the financials was due to the pricing of the rights issue of Bank of the Philippine Islands, said Eagle Equities President Joseph Roxas. Bank of the Philippine Islands priced its rights issue at 89.5 pesos per share, a 23.5 percent discount to … [Read more...] about Vietnamese stock breaks 11-year record