Economists predict us interest rate rise in 2022

The Vietnamese coworking market is growing exponentially as more and more people become aware of the benefits this niche brings from a business and productivity point of view. This year, Hanoi coworking supply is predicted to rise due to the continuing high demand as global providers will expand their locations in Vietnam during the next few years. According to a latest related report on Vietnam's office market, global providers The Hive and Compass offices stated their intention to expand  businesses, seeking valuable consolidation opportunities and partnerships. One of Toong's coworking locations. Photo: Toong Numerous providers expand rapidly The Market Insight Report “Coworking & Flexible Workspace in Vietnam 2022” conducted by Acclime Vietnam supported by Knight Frank showed that as the market growth rate of flexible workspace develops sustainably, numerous providers have emerged in the sector and expanded rapidly. Alongside … [Read more...] about Global providers’ expansion plans make Hanoi coworking supply rise

The Ministry of Finance is working on amending and supplementing Decree No. 153/2020/ND-CP on private offering and trading of corporate bonds in the domestic and international markets. — Photo baogiaothong.vn The Vietnamese stock market has gone through nearly half of 2022 with turbulence and remarkable events, especially the Government's crackdown on illegal activities manipulating the market. At the moment, the market is struggling as both liquidity and the benchmark index fall sharply. Experts said that monetary policy tightening from the US Federal Reserve (Fed), prolonged Russia-Ukraine conflict and China's zero COVID policy will indirectly affect the country's stock market. Stock market crackdown In the first half of 2022, many big business owners such as Do Thanh Nhan, Chairman of the Board of Louis Holdings Group and Le Anh Dung, President of Tan Hoang Minh Group, were arrested for illegal activities in the stock and corporate bond market. These cases showed the … [Read more...] about Stock market faces bumpy ride in second half of 2022

Cashew exports reduced both in volume and value in the first five months of the year. — Photo congthuong.vn Viet Nam’s cashew exports reduced significantly in both volume and value in the first months of the year, exports for the entire year are forecast to be lower than last year, according to the Viet Nam Cashew Association (Vinacas). Speaking at a meeting to review the industry’s performance in the first half of the year and set plans for the latter half, Tran Van Hiep, Vinacas’ deputy chairman, said cashew exports in the first five months fell by 7.81 per cent in volume and 6.81 per cent in value to 206,111 tonnes and US$1.19 billion, respectively. The average export price was about $5,792 per tonne, up 1.45 per cent over the same period in 2021. Enterprises imported about 968,000 tonnes of raw cashew nuts from abroad worth nearly $1.4 billion, down 35.24 per cent in volume and 37.84 per cent in value in the first five months. But the price of raw cashews imported from … [Read more...] about Cashew exports to slow in 2022 amid global inflation, Russia sanctions

Additionally-registered and share-purchased FDI soared sharply in the first half of the year According to the Ministry of Planning and Investment's Foreign Investment Agency, Vietnam counted newly-registered FDI inflows of about $14 billion in the first half of the year, equivalent to 91.1 per cent of the previous year's total. Of this, $4.9 billion was poured into 752 newly-licensed projects, a slight decrease of 6.5 per cent in the number of projects, and a sharp reduction of 48.2 per cent in value. Another $6.8 billion was added to 487 projects currently underway, a rise of 65.6 per cent in value and 5.9 per cent in number. Overseas investors also poured almost $2.3 billion into just over 1,700 share purchase deals, an increase of 41.4 per cent over the same period last year. FDI disbursement climbed slightly by 8.9 per cent on-year, to around $10 billion. Almost 35,000 valid foreign-invested projects were accumulated across the country with a total registered capital … [Read more...] about Additionally-registered and share-purchased FDI soars sharply in first half of 2022

The Vietnam Circular Economy Forum 2022 illustrates the efforts of key stakeholders to establish a circular economy for sustainable development in Vietnam The forum is organised by the Ministry of Natural Resources and Environment in collaboration with relevant agencies. It welcomes nearly 500 delegates, which are representatives of ministries, municipalities, foreign embassies, international organisations, as well as research and educational institutes. The event’s purpose is to examine feasible circular economic (CE) models for Vietnam in light of the finest regional and global practices. In addition, it will specify the procedures, policies, and financial resources necessary to foster CE in the country. According to the Asian Development Bank Institute (ADBI), developing Asia's ongoing reliance on fossil fuels and raw materials for manufacturing continues to strain already vulnerable ecosystems. Vietnam has the second-highest levels of air pollution in Southeast Asia in … [Read more...] about Vietnam’s ministries and private sector sit down on circular economy talk

Peeyush Sharma, CEO of Coca-Cola Beverage Vietnam Co., Ltd. and Tran Duy Dong, deputy minister of Planning and Investment The statement was made by Peeyush Sharma, CEO of Coca-Cola Beverage Vietnam Co., Ltd. at the Danang Investment Forum 2022 held by the Danang Party Committee and the municipal People's Committee. At the forum, the leader of Coca-Cola had a chance to share the company’s vision with Prime Minister Pham Minh Chinh, the leaders of Danang, and the Ministry of Planning and Investment. As a foreign investment enterprise (FIE) based in Danang for over 20 years, Coca-Cola Vietnam has always accompanied the local authorities and people in socioeconomic and environmental protection activities. It highly appreciates the favourable investment climate and attractive incentives offered by the government as well as the local leaders. The company is committed to supporting the deepening of bilateral ties between Vietnam and the US. This will help leverage Vietnam in general, … [Read more...] about Coca-Cola Vietnam’s leader is committed to a long-term investment in Danang

Marcel Schröder, Economist, Economic Research and Regional Cooperation Department Asian Development Bank At the beginning of the conflict, the crude oil price breached $130 per barrel in March, the highest since 2008. Since then, it retreated to about $100 in April, before rising again to $120 following the European Union’s partial ban on Russian oil in May. Some worry that the oil price could spike to $200 per barrel in the coming months and how such a shock would impact the economic prospects of Asia’s developing countries. While many institutions, including ours, project a significantly higher oil price in 2022 compared with 2021, these predictions do not foresee $200 per barrel because they attach a low probability of a sudden shock to the global oil supply. A sudden shock is unlikely given the EU’s decision to gradually phase out Russian oil imports by the end of 2022, allowing an orderly transition to alternative supplies and keeping prices stable and affordable for … [Read more...] about Additional oil spike impacts cannot be ruled out

Part of Van Don district in Quang Ninh province (Photo: VNA) Quang Ninh (VNA) – The northern province of Quang Ninh posted an estimated growth rate of 10.66% in Gross Regional Domestic Product (GRDP) in the first six months of this year, which is 2.64 percentage points higher than the rate in the same period of 2021. In the period, the province has effectively implemented its overall strategy on containing COVID-19 and safely and flexibly adapting to the pandemic, thus facilitating development in the new normal situation. Quang Ninh collected over 27.18 trillion VND (1.17 billion USD at current exchange rate) for the State budget , an increase of 18% year-on-year. Total social investment in the period is estimated at 42.3 trillion VND, up 10.9% from the same period last year. The tourism industry of Quang Ninh has also enjoyed a stable recovery, serving 5.5 million visitors in the six-month period, a 2.2-fold rise year-on-year. The figure also showed a 19.57% increase … [Read more...] about Quang Ninh posts 10.66% economic growth for first half

Denis Brunetti, president in Vietnam and Myanmar for Ericsson With digital transformation being accelerated in the manufacturing sector, what are the factors for the successful development of smart factories in Vietnam? The next wave of socioeconomic development in Vietnam will be created through innovation, science, and technology, driven by the digital economy. A key component of Vietnam’s socioeconomic development strategy is the digital economy, which will contribute 25 per cent of GDP by 2025 and 30 per cent by 2030. It will also further enhance productivity in all key economic sectors of Vietnam. The new digital economy will be created by scientific and technological advancements and innovation, particularly in areas such as 5G, AI, machine learning, automation, cloud computing, blockchain, and the Internet of Things (IoT). With our global scale and expertise, we look forward to supporting Vietnam with the expanded deployment of 4G and 5G networks moving forward. … [Read more...] about The path to success with smart 5G manufacturing in Vietnam

Indonesia became a Covid-19 epicenter last year, even surpassing hotspots like Brazil and India. Its healthcare system was on the verge of crumbling when vaccines came to the rescue. Some Vietnamese workers in Indonesia told me they had no other option but to self-isolate because they could not find a single dose of vaccine. But the situation is different now. There is still an issue with Covid vaccines, but it is no longer about people not getting them; it is about the fact they are going to expire soon. At the end of May Indonesia began to dispose of millions of vaccines after giving 96 percent of its population at least one shot. Around 80 percent received a second and 22 percent also got a third. Other countries are doing the same. To address the problem of vaccine oversupply and the risk of expiration, the U.S. has included 500 million doses in its national vaccination program this year, twice the number originally planned. Some 620,000 doses had to be disposed of by … [Read more...] about No need for Covid mandates for fear of vaccine expiration