Business expectations survey

Bikes produced at Thống Nhất JSC. AMRO forecasts the Vietnamese economy is expected to grow at 6.3 per cent in 2022. — VNA/VNS Photo Trần Việt HÀ NỘI — Việt Nam’s inflation is expected to be contained below 4 per cent this year while the economy is projected to grow 6.3 per cent, according to the latest report on Việt Nam by ASEAN+3 Macroeconomic Research Office (AMRO). This preliminary assessment was made by the ASEAN+3 Macroeconomic Research Office (AMRO) after its annual consultation visit to Việt Nam last week. “The Vietnamese economy is expected to grow at 6.3 per cent in 2022 and 6.5 per cent in 2023. Inflation is projected to remain contained,” said AMRO Group Head and Lead Economist Sanjay Kalra. “This positive outlook rides on strong external demand, a recovery in domestic consumption and healthy investment inflows, bolstered by an appropriate macroeconomic policy stance.” The domestic outbreak of the Omicron variant receded sharply in April 2022, and border … [Read more...] about AMRO forecasts Việt Nam’s strong recovery amid external headwinds

Deputy Prime Minister Le Minh Khai (first on the left) is investigating the construction site of Provincial Road No.910 in Can Tho City. (Photo: SGGP) The Transport Ministry reported that the land compensation step in the first stage of the mega North-South Expressway project has finished. However, some technical infrastructure has not been fully moved. The total expense for construction until now has reached VND20,087 billion ($867 million), accounting for 35.4 percent of the contract value, and 0.7 percent later than the planned one. The disbursement volume for the four projects to be completed this year is 53.4 percent of the contract value, which is 2.6 percent later than expected. In the Southern region, the 21-kilometer coastal road project from Rach Gia City to Hon Dat District of Kien Giang Province has the total investment of VND600 billion ($26 million), and is planned to complete two years after its commencement date of January 2020. Since the construction work is … [Read more...] about VN determinedly stops slow public investment projects

Passengers board a Vietnam Airlines jet. The airline's loss has contributed to the contraction of SCIC's consolidated profit in 2021. Photo nld.com.vn HÀ NỘI — The State Capital Investment Corporation (SCIC) has recently published its financial report for 2021, announcing consolidated revenue of around VNĐ10.1 trillion (US$438 million), 50 per cent higher than the figure for 2020. Of the amount, VNĐ4.3 trillion came from dividends and distributed profits, VNĐ1.9 trillion from capital sales and VNĐ1.4 trillion from banking deposit and bond interests. The returned provision for devaluation in investments also contributed VNĐ3.4 trillion to the figure. Despite high revenue, SCIC earned a consolidated after-tax profit of just VNĐ3.6 trillion last year, a 10-year low, due to losses from its affiliated companies. Notably, SCIC held 31.14 per cent ownership of the national flag carrier Vietnam Airlines. By late Q3/2021, Vietnam Airlines equity fell to about VNĐ1.5 trillion, leading … [Read more...] about SCIC posts lower profits due to affiliated company losses

According to Richard B. Freeman, Herbert Ascherman Professor of Economics at Harvard University, a global workforce is a term that first appeared in the 1980s to describe the workforce in advanced countries, parts of Africa, and most of Latin America. However, the development of a workforce and increasing job opportunities have redefined the concept of a global workforce in business language, required degrees, and workplaces. Is English proficiency a must to globalise yourself? English still maintains its position as an important language to communicate globally. But the term global language has since been expanding to other languages including Chinese, Japanese, French, and German, due to the expansion of multinational conglomerates. There are 133 companies based in China, 53 companies based in Japan, 31 companies based in France, and 27 companies based in Germany that appeared in the 2020 Fortune Global 500 list. English is not the only language for global … [Read more...] about Global workforce and the stories untold

Japan is asking universities for greater scrutiny of foreign students and scholars to prevent technology leaks to places like China, partly for its own national security but also to safeguard exchanges with U.S. and European universities. While many Western countries have measures to prevent espionage on their campuses with strict screening and penalties for breaches, experts say Japan has been a weak link given its often-unchecked embrace of foreign students. A string of U.S. arrests of Chinese academics in recent years over suspicion of spying was a wake-up call for Japan, officials say. "Around the world, export controls are getting more stringent on foreign nations like China," said a Japanese trade ministry official who helps colleges develop ways to monitor high-risk technology transfers and students. "We want Japanese universities to be trusted for their security and trade controls so that joint research with the United States or Europe can continue," said the official, … [Read more...] about With eye on China, and U.S. ties, Japan’s universities to screen foreigners

Speakers at last week’s conference noted that dozens upon dozens of multinationals are interested in the healthcare PPP model in Vietnam. Photo: Chi Cuong At last week’s conference on the issue, hosted by VIR , Deputy Minister of Planning and Investment Tran Duy Dong said that Vietnam’s healthcare sector is facing a number of big issues, including rising infectious and non-communicable disease figures, hospital overload, and an ageing population. The pandemic has also revealed some weaknesses in the sector. “To further improve healthcare service quality and meet demand, mobilising financial resources for new development of infrastructure and medical equipment is a key requirement,” he noted. For the past five years, the government has looked to strengthen the implementation of a model for public-private partnerships (PPPs) for the public sector, including in healthcare services. However, according to VIR’s editor-in-chief Le Trong Minh, the picture of such investment in … [Read more...] about More favourable rule system urged for healthcare PPPs

The delegates cut the ribbon to open a new MM's Depot in Sapa Town on May 21. — Photo MM Mega Market Vietnam MM Mega Market Vietnam opened a new Depot in Sapa Town, northern Lao Cai Province, on May 21, expanding its distribution network system to five depots nationwide. This is a significant step forward in the sustainable development and expansion of MM Vietnam in the distribution network system from 2020 to 2025 to serve better its professional customers, especially the Hotel–Restaurant–Catering/Cafe/Canteen (HORECA) channel. "Viet Nam's tourism industry in the post-COVID-19 period is expected to recover and catch up with strong development momentum quickly. Throughout Viet Nam, MM is expanding its ability to meet growing customer demand for high-quality, responsibly and sustainably produced products. We look forward to bringing our expertise and supply capabilities closer to even more customers in Viet Nam," said Managing Director of MM Mega Market Vietnam Bruno Jousselin. … [Read more...] about MM Mega Market Vietnam opens fifth depot in Sapa