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Though the benchmark VN-Index has lost nearly 19 percent this year, the bank said it was confident about the long-term prospects of the market as companies have been "on a roll" in terms of growth and profits in recent years. The average earnings per share of listed companies had grown by 35 percent last year, and while trading had dipped in the last few months, the Vietnamese market had surpassed Singapore and Indonesia to become the second largest in Southeast Asia behind only Thailand. Local retail investors accounted for around 87 percent of trading. Though foreigners had been mostly withdrawing from the market for nearly three years, they "have started to dip their toes into this market again" in the past few weeks. This was because only seven of the 30 biggest stocks on the main bourse, the Ho Chi Minh Stock Exchange, had reached their foreign ownership limit. Overall the VN-Index had a foreign ownership limit of 44 percent, and current foreign holdings were at less … [Read more...] about HSBC optimistic about Vietnam stock market despite plunge

Hanoi (VNA) – The following is a brief review of the day’s events as reported by the Vietnam News Agency on May 24. - Deputy Prime Minister Le Minh Khai on May 23 led a Vietnamese delegation to attend the 52nd World Economic Forum (WEF) annual meeting. He proposed the establishment of a food innovation hub for Southeast Asia in Vietnam when addressing the “Averting a Global Food Crisis” session, a panel discussion with World Food Programme Executive Director David Beasley, UAE Climate and Environment Minister Mariam Mohammed Saeed Al Mheiri, Tanzania’s Vice President Philip Isdor Mpango, and CEO of the Swiss agriculture company Syngenta, J Erik Fyrwald. Read full story - The Ministry of Foreign Affairs and the US Embassy on May 24 co-organised a ceremony to inaugurate the US-Vietnam Cooperation Centre at the Diplomatic Academy of Vietnam (DAV)’s campus in Hanoi. The new centre is an outcome of the partnership between the embassy’s Public Affairs Section and the DAV which … [Read more...] about ☕ Afternoon briefing on May 24

Vietnam’s aviation industry needs to improve to keep up with the global market as flights resume following the pandemic, Deputy Minister of Transport Le Anh Tuan said on May 24. He made the remark at an international seminar titled “Vietnam aviation in a post-pandemic world” organised by Tap chi Cong San (Communist Review) and the Ministry of Transport. There were 42 million international visitors out of 116 million air passengers in Vietnam in 2019, before the pandemic broke out. About half of them came to Vietnam to invest and seek business opportunities. The volume of goods shipped by air reached 1.5 million tonnes in 2019, which was rather low compared to other modes of transport but accounted for 25 percent of the value of exported goods. With a growth rate of over 15 percent per year in the 2010-2019 period, Vietnam's aviation market is considered to be the fifth fastest-growing market in the world and the fastest in Southeast Asia. Due to the impacts of the COVID-19 … [Read more...] about Solutions sought to help Vietnam’s aviation industry take off