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According to the Petroleum Securities Company, Vietnam’s stock market has been in a downtrend since June 15 when it fell more than 20 per cent from its all-time high and around 19 per cent since the start of 2022. The VN-Index has also continuously broken important support levels, notably the highly-expected support test area of 1,200 points. This left investors unable to understand the cause, with some in a state of panic when the stock reached the lowest point last week and plummeted steeply again this week. At a talk show named “Taking action in the eye of the storm” held by VIR on June 23, Ngo The Hien, analyst director of Hanoi Securities Company explained the sharp decline was based on three factors. “The market is impacted by negative signs, particularly news that US inflation is reaching peaks, which prompted the Federal Reserve to increase interest rates by 0.75 percentage points, thus producing market volatility in the global and domestic market,” Hien said. “Secondly, … [Read more...] about Spooked investors keep tabs on market turbulence

Ring road plan to transform market - Illustrative photo (Source: VNA) The government has asked the National Assembly (NA) to consider and decide on the policy for investing in the ring roads to be located in the country’s two biggest cities. Tran The Anh, sales director of Thang Loi Group, said that the land fund in inner cities is increasingly exhausted and prices are high, with investors turning to suburban real estate. “There is a thirst for houses for those living and working in Ho Chi Minh City in particular,” The Anh said. “The shifting trend of investors and individual financiers is also creating a new vitality for the real estate market in the suburbs.” One of the issues discussed by NA delegates and experts is how to exploit the land fund around the two ring roads, which will soar in value. Already in many places, the price of land in the area has increased dozens of times over. “Because the two routes will open up a vast land fund, the management of auctions of … [Read more...] about Ring road plan to transform market

Motorbike tours around Hanoi and cooking classes in Hoi An have made it into the Top 25 Overall Experiences in Asia, as voted on by readers of TripAdvisor. Foreign tourists enjoy Hoi An Eco Cooking Class. (Photo: TripAdvisor) According to TripAdvisor Travelers’ Choice Awards, riding through downtown Hanoi came in at 15th among regional experiences that travelers should not miss out on during a visit to the capital of Vietnam. “Seeing landmarks such as Hai Ba Trung Temple, the Presidential Palace Historical Site, and Long Bien Bridge; sample some of the city’s finest street eats; and soak up the atmosphere in country villages,” readers of TripAdvisor wrote about visiting the capital city by motorbike. Furthermore, taking an Eco Cooking Class in Hoi An followed by a trip to local markets, as well as basket boat and crab fishing, was voted among the best experiences in Asia, coming in at 20th position. Hoi An Eco Cooking Class is a fun and interesting way in … [Read more...] about Hanoi and Hoi An among Top 25 Overall Experiences in Asia

A historic agreement The European Union (EU) and the Association of Southeast Asian Nations (ASEAN) started negotiations for a region-to-region free trade agreement in 2007. After negotiations were suspended in 2009, the EU decided to pursue bilateral trade agreements with the individual ASEAN member states. Negotiations between the EU and Vietnam on a free trade agreement were launched in 2010. Following the completion of technical discussions, talks were finalized in December 2015. In February 2016, the full text of the EVFTA was published. However, the official signing of the trade deal was delayed due to the pending judgment of the Court of Justice of the European Union (CJEU) on jurisdiction for the conclusion of the EU-Singapore Free Trade Agreement. To take the 2017 CJEU opinion into account, the original deal was split into the EVFTA and the EU-Vietnam Investment Protection Agreement (EVIPA) in June 2018. Both agreements were signed on June 30, 2019 in Hanoi. The European … [Read more...] about EU trade deal offers opportunities to increase exports

Patricia Marques, general manager of Starbucks Vietnam How tough is the coffee competition in Vietnam this year and how do you expect things to pan out moving into next year for your company? Competition is up there. We have plenty of competitors and there are an enormous number of players in the market, although not necessarily competing in the same arena. Although we may all be coffee brands, some brands are more skewed towards teas or fruit drinks. So in the coffee arena, we find that there is plenty of competition and in the next few years, we will probably continue to see even more than now, considering that many international players are not yet in Vietnam. The quality of Vietnamese coffee beans can be unstable from year to year, so how do you support farmers in places like Dalat to ensure quality is up to standard? In my role, I have no participation in the sourcing or the buying of Starbucks Coffee for the world. However, as a company, we try to be as close as … [Read more...] about Starbucks CSR initiatives gather pace

Binh Tran and Eddie Thai, co-founders & general partners of Ascend Vietnam Ventures Binh Tran and Eddie Thai, co-founders & general partners of Ascend Vietnam Ventures, have been investing together in Vietnam since 2015 and have backed home-grown international successes such as NFT gaming unicorn Axie Infinity, AI-driven edtech ELSA, and financial inclusion fintech Trusting Social. With AVV Alpha, the team has increased their investments in startups in Vietnam, seeding up to $2 million into 25 startups by next year and following on with checks of up to $5 million. “The likes of Axie Infinity, ELSA, and Trusting Social are by no means isolated successes,” said Binh Tran. “Vietnam’s dynamism, accessibility, low cost of living, as well as abundant quality engineering talent attract many founders. On top of that, many tech solutions built here can address similar challenges and customer behaviours in other emerging markets worldwide. Vietnam will continue to be seen as … [Read more...] about Ascend Vietnam Ventures surpasses $50 million target

Mindset change coming from the top at BAEMIN Some argue that the proliferation of online shopping and food ordering services has increased the demand for single-use plastic. How big a problem is this? Plastic waste is definitely among the most pressing issues that the food tech industry needs to find solutions for, besides food waste and increased carbon footprint. While people usually mention plastic waste only, I think it’s equally important to factor in other aspects of environmental challenges in the food technology industry that we face so we can come up with more solutions. Since 2020 in many parts of the world, the use of single-use and disposable food packaging has increased as some believe it to be safer and more hygienic. Users, although becoming more environmentally conscious, seldom consider using leftovers for future meals or reusing meal boxes, plastic bags, or disposable cutlery. To renovate ourselves, we need to find a better solution because packaging … [Read more...] about Mindset change coming from the top at BAEMIN