Regulatory quality and covid 19 managing the risks and supporting the recovery

The local aviation market experienced a strong recovery in April. — VNA/VNS Photo The aviation market in Viet Nam is vibrant and recovering with the number of international visitors increasing five-fold, according to experts. According to the Civil Aviation Authority of Viet Nam (CAAV), in April, Viet Nam's airports handled 6.6 million passengers, down 14.3 per cent compared to the same time last year but the number of foreign visitors reached more than 230,000 in April, an impressive increase of 502 per cent over the same period last year when COVID-19 was developing in a complex fashion. CAAV said Vietnamese airlines transported 3.28 million passengers, including 80,000 foreigners. Compared to the same period last year, the number of international passengers choosing services of Vietnamese airlines rose 214.7 per cent, while the number of domestic passengers dropped 18.2 per cent. As for cargo transport, in April, 140,700 tonnes of cargo were transported through Viet … [Read more...] about Local aviation market sees strong recovery

Viet Nam's stock market is in a strong correction, down nearly 19 per cent since its peak in early April. — Photo tinnhanhchungkhoan.vn The State Securities Commission (SSC) is closely monitoring the developments of the economic-political situation, assessing the influence on Viet Nam's stock market in order to promptly take appropriate solutions aimed at stabilising the domestic stock market, said a representative of SSC. Viet Nam's stock market is in a strong correction, down nearly 19 per cent since its peak in early April. In a recent interview with Vietnam News Agency, a representative of the State Securities Commission (SSC) said that the domestic stock market was going through a strong adjustment period, due to the combined impact of domestic psychological factors as well as risks from the international market such as the Fed raising interest rates sharply, unresolved geopolitical tensions, inflationary pressures, sharp increases in input prices and rising energy prices. … [Read more...] about SSC prioritises stabilising solutions for stock market

Hardy Diec, Managing Director of FedEx Express Indochina. Photo by FedEx Express What’s the status quo with the logistics industry? Supply chains have never been more important. More than that, reliability and accuracy in these supply chains have now become even more paramount. During this pandemic, the logistics industry has proven to be vital, whether in delivering critical healthcare shipments including vaccines and medicine, or delivering huge volumes of e-commerce shipments to end consumers. The pandemic has shifted consumer behavior greatly. The boom in e-commerce will continue to be a powerful engine of the global economy. We’re witnessing how essential supply chains are to business survival, success and growth - they are not just an opportunity to reduce cost. Businesses are rethinking their supply chains, moving to a "just in case" approach for inventory management to counter unplanned scenarios. Being able to receive products and critical components either by … [Read more...] about Innovative logistics models in great demand: FedEx director

Prime Minister Phạm Minh Chính on May 15 (US time) had meetings in New York with John McAuliff (right) and a group of Americans who supported and advocated for victims of Agent Orange in Việt Nam. — VNA/VNS Photo NEW YORK — Prime Minister Phạm Minh Chính on May 15 (US time) held meetings with American friends who have stood by Việt Nam and its people as part of his working visit to the US. In the meeting with John McAuliff and a group of Americans who have helped support Vietnamese victims of Agent Orange/dioxin, PM Chính said other than looking to future possibilities of bilateral cooperation, the Vietnamese delegation also discussed with the US side the handling of war consequences that still haunt Việt Nam to this day. There are still three million people suffering from the impacts of Agent Orange, not to mention the risks of continuing diseases and deformities afflicting future generations and the millions of hectares of contaminated land, he said. Up to 200,000 Vietnamese … [Read more...] about PM meets with friends of Việt Nam in the US

Investors watch stocks' movements in front of a big screen. — Photo tinnhanhchungkhoan.vn Markets experienced the worst performance since March 2020 last week due to strong selling pressure. Experts said that with the current conditions, downside risk is still dominating the market. Last week, the VN-Index on the Ho Chi Minh Stock Exchange (HoSE) breached the 1,200-point level after ending the last trade at 1,182.77 points. It lost nearly 120 points just in the last two sessions. The HNX-Index on the Ha Noi Stock Exchange (HNX) also finished the week at a lower level of 302.39 points. The market dipped for three out of five sessions. For the week, the VN-Index dropped by more than 11 per cent, while the northern benchmark HNX-Index declined 12 per cent. On the southern bourse, trading value increased by 79.9 per cent compared to the previous week to VND84.2 trillion (US$3.6 billion), equivalent to a rise of 92.9 per cent in trading volume to 3.1 billion shares. The … [Read more...] about Market likely to expand bearish trend: analysts

At the event, the Vietnamese PM congratulated Laos on the positive results in the country’s fight against COVID-19 and reopening, and highly valued the two countries’ sound cooperation in the bilateral framework as well as at regional and international forums. The Lao PM spoke highly of Vietnam’s important achievements in the recent time, especially in bringing the COVID-19 pandemic under control and promptly reopening its borders for socio-economic recovery and development, and thanked Vietnam for cooperation and support for Laos over the years. The two PMs rejoiced at the stable development of the Vietnam-Laos great friendship, special solidarity and comprehensive cooperation. Since the start of 2022, the countries have exchanged delegations at all levels, notably an official visit to Vietnam by the Lao PM in January. They have collaborated in effective implementing high-level agreements and those adopted at the 44th meeting of the Inter-Governmental Committee chaired by the … [Read more...] about Prime Minister Pham Minh Chinh meets Lao counterpart in U.S.

During the meeting, N.A. Chairman Hue briefed participants on the recent socio-economic situation as the COVID-19 pandemic has gradually been put under control, saying that most industries and fields tend to recover and grow again. He emphasized the importance of maintaining macroeconomic stability in the long term, stating that more efforts are needed to achieve the set targets for the whole year. Voters at the event spoke highly of the recent sessions of the 15th N.A., expressing their support and confidence in the Party and State's anti-corruption effort. The legislative body issued the anti-corruption law and many legal documents, creating a solid legal foundation for the fight against corruption, contributing to strengthening the people's trust, they said. Taking note of the opinions of voters, the N.A. Chairman said that a project to continue improving the quality of the N.A.’s sessions needs more time to prepare, and the central role of N.A. deputies should be upheld in … [Read more...] about Top legislator meets with voters in Hai Phong

The relations would be enhanced through commitments in a wide range of fields, including economic, maritime cooperation, building trust, and people-to-people links. ASEAN member states and the US have reaffirmed their shared commitment to strengthen and build more comprehensive ASEAN-US Dialogue Relations. The declaration was included in a joint vision statement released at the US-ASEAN Special Summit, the first-ever held in Washington, D.C., on May 12-13 with the participation of the US president and leaders of the Association of Southeast Asian Nations (ASEAN) member states. The tightened relations are aimed to promote peace, security, stability, and prosperity in the region and ensure that relations remain adaptable to meet new challenges; and appropriately cooperate in international and regional fora of which ASEAN member states and the US are members. The two sides stressed the importance of creating a peaceful environment for strengthening the existing bonds of … [Read more...] about US-ASEAN Joint Statement reaffirms comprehensive Dialogue Relations

A view of HCM City. Many banks have temporarily ceased lending to the property sector. — Photo vneconomy.vn Deputy Governor of the State Bank of Viet Nam, Dao Minh Tu, announced at the Government’s March press conference that credit growth in the first quarter of the year had been 5.04 per cent, much higher than the 2.16 per cent rise in the same period last year. He described it as a “quite positive result” that showed the economy had made a significant recovery with people’s lives and businesses returning to normal thanks to the Government’s effective measures against the COVID-19 pandemic. According to a report by the SBV’s HCM City office, credit growth in the country’s main economic hub was estimated at 3.65 per cent in the first quarter. The positive performance has encouraged many banks to set high goals for the full year. At its annual general meeting on March 16, VIB approved a growth target of 30 per cent, much higher than the cap of 14 per cent set by the central … [Read more...] about Not lending to property sector will have mixed effects: analysts

Welcoming the Cambodian senior officer to Vietnam to attend the fifth Vietnam-Cambodia Defense Policy Dialogue, General Chien highlighted the importance of this year’s dialogue which was held ahead of the first Vietnam-Cambodia border defense friendship exchange. The outcomes of the dialogue will be reported to Vietnamese and Cambodian defense ministers in the framework of the first bilateral border defense friendship exchange. This is also a key activity in the “Vietnam - Cambodia, Cambodia - Vietnam Friendship Year 2022,” in celebration of the 55th anniversary of the establishment of diplomatic relations between the two countries (June 24, 1967) as well as commemorating the 45th anniversary of Prime Minister Hun Sen’s “the path to overthrow the Pol Pot genocidal regime” (June 20, 1977). For his part, General Neang Phat thanked the Vietnamese side for their warm reception while highly appreciating Vietnam’s preparation for the dialogue. He affirmed that Cambodia has always … [Read more...] about Fifth Vietnam – Cambodia Defense Policy Dialogue held