Rise 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

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

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 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

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

Hungary was the first European Union state to approve the EU-Vietnam Investment Protection Agreement (EVIPA). Vietnam and Hungary are expected to sign an agreement on cooperation between the two parliaments in replacement of the one inked in 2008. Chairman of Vietnam’s National Assembly Vuong Dinh Hue and István Jakab, Deputy Speaker of the National Assembly of Hungary, in Budapest on June 26 (local time). Photos: VNA The agreement would be signed during the visit to Budapest by Chairman of Vietnam’s National Assembly Vuong Dinh Hue on June 26-28 at the invitation of Speaker of Hungary’s National Assembly László Kövér. The parliamentary cooperation is evidence of the Comprehensive Partnership agreed in 2018 during the visit paid by General Secretary of the Communist Party of Vietnam Nguyen Phu Trong to the European country. The cooperation agreement is believed to cover three main fields namely the exchange of visits of high-profile officials and … [Read more...] about Vietnam, Hungary to sign new parliamentary cooperation agreement

National Assembly Chairman Vương Đình Huệ meets representatives of the Vietnamese entrepreneur community in Europe in Budapest on June 26. — VNA/VNS Photo Doãn Tấn BUDAPEST — National Assembly (NA) Chairman Vương Đình Huệ met representatives from the Vietnamese entrepreneur community in Europe in Budapest on June 26 evening (local time), as part of his official visit to Hungary. Hoàng Mạnh Huê, president of the Union of Vietnamese Business Associations in Europe, said that the community has made great strides in recent years with encouraging successes, and become an effective bridge between the Vietnamese and European markets. They not only import a lot of commodities from Việt Nam into the European market and the supply chain of businesses in the host countries but also have been very successful in building a stable and efficient business model in accordance with the host countries’ laws, Huê added. The Vietnamese business community in Europe has deeply integrated into local … [Read more...] about NA Chairman meets Vietnamese entrepreneurs from across Europe in Hungary

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