Economy

The inauguration ceremony for Vinh Tan international port. The port is poised to meet escalating import-export demands of the central province of Binh Thuan and neighboring localities, thereby boosting their overall socio-economic development. Vinh Tan international port, a key and much-anticipated logistics infrastructure project in the central region, has received investment from Vinh Tan International Port JSC, a member of Pacific Corporation, with the total capital of around VND2.3 trillion (US$98.9 million). Covering more than 140 hectares in Vinh Tan commune, Tuy Phong district, the port has been designed to handle a capacity of up to 8 million tons of goods per year. GM_EN_PC_ARTICLE_Native_ads The port is now equipped with a general berth which can receive cargo ships with loading capacity of up to 30,000 deadweight tonnage (DWT) and two wharves likely to handle 50,000 DWT vessels. It is projected to develop an additional wharf that can accept 70,000 … [Read more...] about Vinh Tan international port inaugurated

The investigation puts focus on assessing the dumping behavior of Thai and Malaysian MDF exporters and the damage done to the local plywood board industry. (Illustrative photo) The move comes after four local medium density fibreboard (MDF) producers sent a dossier to the ministry’s Trade Remedies Authority calling for an anti-dumping investigation. They include VRG Kien Giang MDF JSC, MDF VRG Quang Tri, Kim Tin MDF, and VRG Dongwha MDF - a joint venture between the Republic of Korea’s Dongwha International company and Vietnam Rubber Group. These firms criticized MDF products imported from Thailand and Malaysia for being sold at dumping rates ranging between 18.59 and 50.6 per cent in the Vietnamese market. They blamed the alleged dumping behavior for considerably damaging the domestic production of plywood boards. According to the ministry, current legal regulations state that following the launch of an anti-dumping investigation, competent agencies are … [Read more...] about Trade ministry probes MDF dumping charges

Ho Chi Minh City has seen rapid expansion of co-working spaces over the last two years, with a sharp increase of over 90 per cent per annum to reach over 37,000 square meters as of the reviewed period (Illustrative photo: baoxaydung.com.vn) Savills Vietnam said in a recent report that vacancies in the Ho Chi Minh City (HCMC) market are continuously declining. This trend can especially be seen in the central business district (CBD) area, with all recent entries rapidly absorbed. Rent remained robust with another quarterly hike of 2 per cent, continuing its five-year momentum into the first quarter of 2019. Rents for top-tier grade offices (Grade A) continued to lead, up 2 per cent on quarter, representing accumulative growth of 13 per cent over the past five successive quarters. Leveraging high demand but limited available stock, landlords have continued to raise rent and hold firm in negotiations, whilst tenants have had to either accept rental hikes or consider alternatives, … [Read more...] about Ho Chi Minh City office market beats records

The Hanoitimes - The banking growth model of rapid credit growth to the corporate sector will transform in the one which focuses more on household lending and fee income as corporates tap into the bond and equity markets. ADB approves US$135mil loan to support capital markets development SSC, GIZ to develop green capital market Capital market’s role in economic restructuring highlighted Vietnam’s economic growth has been mostly fueled by foreign direct investment (FDI) and credit but those two are not long-term solution. The country’s leadership is well aware of that and seems committed to developing  its capital markets, according to Viet Dragon Securities Company (VDSC).    Over the past few years, “Vietnam’s capital market is small, unsophisticated and remains hard to access particular for overseas investors,” stated VDSC.  Nevertheless, Vietnam is expected to witness significant financial deepening in the next … [Read more...] about Vietnam turns to capital markets for sustainable economic growth

  Most Vietnamese people will use smartphones by 2020. — Photo vietnamplus.vn HÀ NỘI — Almost all Vietnamese people will use smartphones by 2020, according to Minister of Information and Communications, Nguyễn Mạnh Hùng. Hùng said he instructed the Việt Nam Telecommunication Authority (VNTA) to build a new strategy for the industry’s development with an aim to improve Việt Nam’s ranking in the world market. He said it was time for Việt Nam to have a new telecom strategy to improve its ranking. The only strategy was competitiveness. It should have solutions to encourage the big three firms of Viettel, VinaPhone and MobiFone to create changes, thus promoting development of the mobile phone market. The minister said telecom network providers should have long-term investments for their development. He proposed to accelerate the development of daily data packages. VNTA was required to study experiences … [Read more...] about Smartphones to cover Vietnamese population by 2020