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Year end marketing report

/ February 24, 2021

Prolonged pandemic issues cloud recovery

Dinh Quang Hinh, analyst at VNDIRECT Securities JSC, noted that the local economy’s recovery “will slow down”, especially in the next two months. According to Hinh, the tourism industry may still be the most affected by the new COVID-19 wave. Reports from travel and airline businesses showed that many travellers cancelled flights and hotel reservations, and postponed their plans. In addition, the blockade in some localities such as Hai Duong province and the closure of a number of non-essential services in other cities and provinces may reduce the growth rate of several service sub-sectors, especially accommodation, catering, tourism, and entertainment. At a cocentrated quarantine area. Photo: VNA Unfeasible policies Facing the serious impact of COVID-19 on the economy, Assoc. Prof. Dr. Pham The Anh, chief economist of the Institute for Economic and Policy Research (VEPR), said that the country could not pursue macro policies in the same way other countries would do, for example through large-scale monetary easing, due to limited financial resources after years of deficits, coupled with constraints to inflation and exchange rate targets. Vietnam was one of the few countries in the world with positive economic growth in 2020. But this year, according to Anh’s observation, “the policy space is no longer wide” to support economic growth and social security. Last year, the State Bank of Vietnam lowered interest rates three times and supported commercial banks with a VND250-trillion package ($10.87 billion), which is still being deployed. In addition, pandemic prevention and social backup subsidies to ease the impacts of the crisis are also putting great pressure on the budget balance. In 2021, monetary policy, particularly interest rate tools, will see a significantly reduced effectiveness, according to the VEPR’s chief economist. Anh also warned about an asset bubble that is forming in the stock and real estate markets. Last year, property …

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/ February 24, 2021

System error clogs ATC phase, VN-Index falls

System error clogs ATC phase, VN-Index falls The Saigon Times An employee of HCMC Securities Corporation monitors stock prices on a computer screen. The VN-Index of the Hochiminh Stock Exchange lost 1.33% today, February 24 – PHOTO: THANH HOA HCMC - The VN-Index of the Hochiminh Stock Exchange lost 1.33%, or 15.63 points, on Wednesday to end at 1,162.01 points in a session that a system error clogged the at-the-close phase. The market barely fluctuated in the morning. Early in the afternoon, the VN-Index suddenly lost over 23 points to below 1,155 points. The strong cash flow then helped the benchmark index recover. However, a technical error occurred, clogging trade after 2 p.m. The southern market saw losing stocks far outnumber winners by 357 to 93. There were 603 million shares worth over VND15 trillion changing hands, falling slightly in volume and 2.6% in value against the session earlier. Among bluechips, only steelmaker HPG, lenders VIB and CTG, petroleum stock PLX and aviation stock HVN gained ground. CTG was the biggest gainer, rising 1.21% to VND37,500. The others increased less than 1%, with HPG edging up 0.69% to VND43,600, PLX up 0.88% to VND57,300, VIB up 0.54% to VND37,400 and HVN up 0.7% to VND28,800. In contrast, property stock VIC lost 1.64% to end at VND108,200 and lender VCB fell 1.9% to VND98,000. Bluechips losing over 2% included housing developer VHM and lender BID, which went down 2.37% to VND102,800 and 2.16% to VND43,050, respectively. HPG took the lead by liquidity with 27.3 million shares changing hands, followed by lenders STB, MBB and ACB, with 24.7 million, 19.9 million and 18.7 million shares traded, respectively. In the group of small and medium stocks, there were only a few stocks increasing, including industrial zone developer ITA, up 0.2% to VND6,390, real estate stock DLG, up 0.6% to VND1,820 and shipping firm VOS, up 2% to VND3,510. However, the southern bourse saw some stocks shoot up to the …

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/ February 24, 2021

New Zealand and Vietnam boost agricultural cooperation

New Zealand and Vietnam today signed an Agriculture Cooperation Arrangement at an dialogue held virtually by New Zealand Chief Executive of the New Zealand Ministry for Primary Industries, Ray Smith, and Vice Minister of the Ministry of Agriculture and Rural Development (MARD), Le Quoc Doanh. At the dialogue. At the dialogue, the two sides voiced their commitment to the two countries’ deepening agriculture and trade relationship. Smith and Doanh affirmed that the Strategic Partnership, which was jointly announced by Prime Ministers in July last year, has created a solid foundation for increasing bilateral agricultural cooperation and connections between the two countries. Speaking at the dialogue, Chief Executive of the New Zealand Ministry for Primary Industries, Mr Ray Smith, emphasized that this is a valuable opportunity to consider what both sides can do together as they build resilience and vitality back into their agriculture economies following COVID-19. The Agriculture Cooperation Arrangement will enable both sides to advance their key agricultural interests in enhancing bilateral trade, reducing agricultural greenhouse gas emissions, promoting food safety, utilising agriculture research and technology, and in rural development. Speaking at the ceremony, Vice Minister Le Quoc Doanh of MARD said: “Agriculture is critical to the economic wellbeing of our countries. Both nations are strong agriculture producers and exporters, with complementary products. The establishment of the New Zealand – Viet Nam Agricultural Dialogue and the signing of the Agriculture Cooperation Arrangement today will boost our connections, cooperation and two-way trade, in line with what our two Prime Ministers highlighted during last years’ Strategic Partnership dialogue.” The New Zealand Ministry for Primary Industries is already supporting agriculture cooperation with MARD with activities in plant health, veterinary epidemiology and …

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