Markets

An investor watching stock movements on his smartphone and laptop. — Photo nld.com.vn Investors went through a turbulent week as the VN-Index reported the biggest weekly fall since May. Analysts said that in the current environment, financial markets are very likely to continue revaluing. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index ended the last session of September at 1,132 points, up 0.54 per cent. However, it had lost 12 per cent last month and more than 24 per cent in 2022. The HNX-Index on the Ha Noi Stock Exchange (HNX) closed last week at 250.25 points, an increase of 0.34 per cent. For the week, both benchmarks posted big falls, of which the VN-Index dropped 5.9 per cent and the HNX-Index plummeted 5.4 per cent. Trading value on HOSE rose 12.8 per cent over the previous week to nearly VND68.3 trillion (US$2.86 billion), equal to a trading volume of more than 2.8 billion shares, up 18.1 per cent. Meanwhile, the trading value on HNX declined by 1.2 per … [Read more...] about Market likely to continue to correct this week

Illustrative photo. (Photo: VNA) Hanoi (VNA) – Vietnam’s GDP growth will reach 8% this year in the base-case scenario , provided that there will be no upheavals in the market but favourable external factors for the economy during the remaining months of the year, according to Deputy Minister of Planning and Investment Tran Quoc Phuong. It was one of the two GDP scenarios for 2022 announced by the Ministry of Planning and Investment (MPI) at a routine government press briefing on October 1. In the worst-case scenario , the GDP will grow at 7.5%, provided that many challenges and uncertainties are expected in the fourth quarter of this year, Phuong told reporters. Commenting on Vietnam’s economic outlook for 2023, he said there will be both challenges and opportunities, but the former are likely to outweigh the latter and be even tougher in the wake of inflationary pressure worldwide and gloomy global economic outlook. He noted that global inflation, … [Read more...] about GDP growth to hit 8% this year in base-case scenario: Official

Cotton Council International and the Vietnam Textile and Apparel Association will host Cotton Day Vietnam 2021 with the theme “Sustainability and Transparency You Can Trust” on December 1. (Photo: courtesy of the organisers) HCM City (VNA) - Cotton Day Vietnam 2021, a forum on trends and solutions to help Vietnamese textile enterprises revive after COVID-19, will be held online on December 1. The fifth annual event themed “Sustainability and Transparency You Can Trust” will be organised by the Cotton Council International (CCI) and the Vietnam Textile and Apparel Association ( VITAS ). The event will include a seminar with presentations and updated information on the situation of the cotton industry in Vietnam and the world, and trends and perspectives from the world’s leading brands and retailers relating to sustainable cotton. It will also provide solutions that textile and garment companies in Vietnam need to adapt to market demands after COVID-19. Speaking at a … [Read more...] about Cotton Day Vietnam online forum to help Vietnamese textile enterprises revive after COVID-19

The first sample of chip made by FPT semiconductor. — Photo courtersy of FPT Viet Nam’s leading ICT company FPT Software has launched a new subsidiary, FPT Semiconductor, marking a key milestone for the company as it enters the booming semiconductor industry. Through the new subsidiary, FPT Software aims to gain a slice of Asia Pacific’s semiconductor market which accounts for 60 per cent of global sales. FPT Semiconductor released its first integrated circuits (ICs), designed in Viet Nam and manufactured in South Korea, in August 2022. These ICs will be used in Internet of Things (IoT) medical devices. By 2023, FPT Semiconductor plans to supply 25 million chips globally in seven types to meet diverse needs in telecommunications, IoT, automotive technology, energy, electronics, and others. According to a Technavio report, Viet Nam's semiconductor industry is estimated to exceed US$6.16 billion by 2024. FPT Semiconductor aims to become a supplier of Vietnamese brand chips for … [Read more...] about FPT Software produces made in Viet Nam chips

Supply down, demand up In its August report, the US Department of Agriculture (USDA) lowered the global rice production forecast for the 2022-2023 crop to 512.4 million tonnes, down 2.3 million tonnes compared with its previous forecast, and down 1.2 million tonnes compared with the 2021-2022 crop, due to decreased rice production in India, Bangladesh and Europe. The USDA also reduced its inventory forecast to 178.5 million tonnes, down 4.2 million tonnes compared with the previous forecast and down three percent compared with the 2021-2022 crop, marking the third consecutive year of rice inventory decline. Contrary to production, the USDA raised the global rice consumption forecast for the 2022-2023 crop to a record level 518.7 million tonnes, up 100,000 tonnes compared with the previous forecast, and up more than two million tonnes compared with the 2021-2022 crop. Increased consumption is forecast for Bangladesh, China, Nepal, Nigeria, the Philippines, and Vietnam. … [Read more...] about Bright prospects for rice exports

Pursuant to the MoU, the two sides will establish the consultation collaboration on promoting Corporate Governance with best practices; provision of consultation on ESG strategy development (Environment, Social and Governance) appropriate in the Era of Sustainability Business; Establish & Strengthen the ESG policies and practices; Internal Control Assessment; and Business Process Improvement. Senior Executive Director of Tricor Axcelasia, Mr. Derek Lee, and VietStar CEO, Ms. Pham Thi Thu Hang, sign the MoU In addition, VietStar and Tricor Axcelasia also collaborate with each other to provide consultation on promoting foreign companies’ investment into Vietnam as well as Vietnamese companies’ investment into ASEAN countries, which helps foreign enterprises have the best preparation related to the local market as well as policies and procedures before investing into Vietnam, and also helps Vietnamese enterprises better understand ASEAN market to smooth the … [Read more...] about Vietstar and Tricor Axcelasia Group signed MoU

Local governments should support farmers with small-scale farms Sows and meat pigs are being raised on the farm of Mr. Vu Van Vinh in the Southern Province of Dong Nai’s Song Trau commune in Trang Bom District. Since the beginning of 2022, the price of animal feed has continuously increased, making farmer Vinh so worried. According to him, at the beginning of the year, the price of pigs dropped to VND45,000 a kg, but it is currently fluctuating at VND57,000-VND60,000 a kg, while pig feed costs VND350,000 a bag. It will take roughly 5 to 6 months to raise a pig from birth to finished weight. The cost of animal feed for a pig is VND5.2 million not to mention the labor cost but it is sold at VND5.7 million - VND6 million each, said farmer Vinh. Similarly, breeder Nguyen Van Long in the Southern Province of Ba Ria - Vung Tau’s Chau Duc District, did not dare to increase the herd of Tet pigs like in prior years. He is breeding some 50 pigs whereas he raised more than 200 pigs in … [Read more...] about Pig household farmers face difficulties when swine prices down

In light of the company’s fresh trajectory, next year HAGL would launch into the market with around 1,000 stores selling pork products from banana-eating pigs, of which franchised stores are accounting for 80 per cent. HAGL's Bapi brand aims to enhance customers' experience Since the economic downturn back in 2008, Vietnam’s real estate market weathered stormy times. In late 2012, HAGL chairman Doan Nguyen Duc took a breakthrough decision of pivoting from real estate to planting rubber. By 2012, the company posted revenue touching $159.4 million from real estate, construction, and mineral sale segments, making up 83 per cent of its total revenue. Thus, albeit these segments proved their core line, the company decided to pivot to a new area. By 2014, its revenue witnessed a change with agricultural products such as sugar, corn, and rubber, contributing $64 million or 48 per cent of total revenue. The company’s captain Duc noted that HAGL’s development has … [Read more...] about Suspicion over Hoang Anh Gia Lai Group’s long-term growth trajectory

A customer at an HDBank office in Ha Noi. The SBV raised the cap of credit growth quota for 15 banks including HDBank in early September. — VNA/VNS Photo Businesses have faced difficulties in access to capital and commercial banks want to be able to lend freely to meet market demand. However, experts said the imposition of the credit growth cap is still necessary to keep the country’s macro economy stable in the short run. The credit growth quota regime was officially deployed in 2011 when Viet Nam’s economy was experiencing hyperinflation stemming from excessive money supply. The credit growth quota regime, putting a cap on the banking industry’s credit expansion, was announced by the State Bank of Vietnam (SBV) at the beginning of each year. Based on the credit growth quota for the entire banking industry, the SBV will determine the credit growth for each commercial bank depending on its financial health, with indicators including capital, asset quality, governance, business … [Read more...] about Credit growth cap remains indispensable for macroeconomic stability