Several market participants interact in developed

Deputy Foreign Minister Pham Quang Hieu  speaks at the conference (Photo: VNA) Hanoi (VNA) - A conference on promoting international cooperation for developing Vietnam's Halal industry was held by the Ministry of Foreign Affairs in collaboration with the Ministry of Agriculture and Rural Development (MARD) on June 28 in Hanoi in both in-person and online forms. The conference aimed to assess the current situation and prospect of the Halal industry in Vietnam, discuss ways to promote cooperation and take advantage of international resources to expand the presence of Vietnamese enterprises in production and supply chains of Halal products and services worldwide, and work out orientations for comprehensive and sustainable development of Vietnam's Halal industry until 2030. In his speech at the event, Deputy Foreign Minister Pham Quang Hieu said Vietnam boasts great potential and advantages for developing the Hall industry, and affirmed that the Vietnamese government … [Read more...] about Vietnam eyes stronger development of Halal industry

Jesse Choi, CEO of Sunwah Innovations and director of Sunwah Vietnam talked about Vietnam's market entry opportunities and strategy The webinar received around 100 participants including experts and representatives of corporates, startups, universities, incubators and accelerators, venture capital firms, and business associations from Vietnam and neighbouring countries and territories including Cambodia, Singapore, Japan, South Korea, China, and Hong Kong. Vietnam has seen significant improvements in developing a dynamic and open business environment. In the post-pandemic period, the country stands firm as one of the most attractive destinations in the Southeast Asian region for foreign investors and businesses including venture capital firms and startups. Realising an increasing need from overseas startups and supporting organisations to explore and gain footholds in the market, Sunwah Innovations organised the Vietnam Market Entry Opportunities and Strategy webinar. It was … [Read more...] about International webinar on Vietnam’s Market Entry Opportunities and Strategy

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

Workers processing fish at a Vĩnh Hoàn Corp.'s factory. VHC was the leading stock in the seafood sector backing the market pick-up yesterday. Photo kinhtechungkhoan.vn HÀ NỘI — The market closed largely unchanged on Wednesday as bullish and bearish sentiments entered a tug-of-war. On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index started off the afternoon with a double-bottom pattern but broke above the neckline at around 2pm to begin an upward trend. The buying and selling forces cancelled each other out, leaving the index more or less stable at 1,218.09 points, down 0.01 points compared to the previous session. The market’s breadth stood visibly negative as 190 stocks declined while 156 advanced. Notably, eight stocks reached ceiling prices and only one hit floor prices. The market’s liquidity was relatively low with 519 million shares traded on the southern bourse, equivalent to just over VNĐ10.4 trillion (US$448 million). The 30 biggest stock tracker VN30-Index … [Read more...] about Market caught in tug-of-war closes unchanged

UNDP Resident Representative in Việt Nam Caitlin Wiesen. — VNA/VNS Photo Minh Đức UNDP Resident Representative in Việt Nam Caitlin Wiesen suggests measures to realise the new integrated development plan of Mekong Delta 2021-2030 while talking to Việt Nam News on the launch of the plan on Tuesday. How do you assess the missions and orientations of the master plan of the Mekong Delta region in the 2021-30 period with a vision towards 2050. Remarkably, the plan sets the target that agricultural production will be transformed to adapt to changes in natural conditions in accordance with three ecological sub-regions? I would like to congratulate the Government on this first regional master plan for the Mekong Delta. This is the first multi-sector, inter-disciplinary, and inter-provincial master plan, which is the right direction for planning and sets a good example for other regions to follow. The plan employs nature-based solutions and a people-centred approach for … [Read more...] about Master plan expected to create breakthrough development for Mekong Delta

Facilities of Binh Son Refining and Petrochemical Company Limited (BSR) in the central province of Quang Ngai. BSR rose 2.8 per cent on Wednesday. Photo bsr.com.vn Vietnamese shares rose on Wednesday, propped up by a slew of banking and energy stocks. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index increased 1.27 per cent, to 1,218.10 points. The benchmark increased 1.46 per cent, to close Tuesday at 1,202.82 points. More than 588.4 million shares were traded on the southern bourse, equivalent to VND14.4 trillion (US$619 million). Market breadth was positive with 136 losers and 326 gainers. Banking stocks were darlings of the market with gainers including Military Bank (MBB), Techcombank (TCB), Bank for Investment and Development of Viet Nam (BID), VietinBank (CTG), Viet Nam International Commercial JS Bank (VIB), Saigon-Hanoi Commercial JS Bank (SHB), Tien Phong Bank (TPB) and Vietcombank (VCB). Energy stocks gained ground with gainers such as Viet Nam National … [Read more...] about Shares extend gains, bolstered by bank and energy sectors

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

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

Before today's trading session, investors received the news that the Vietnam Securities Depository (VSD) had recently consulted on a draft regulation on clearing and payment of securities transactions under the direction of adjusting the payment time for completing the T+2 settlement cycle of the State Securities Commission of Vietnam. One of the essential contents of this draft is the adjustment of the time for securities settlement and clearing banks to complete payment from 3.30 p.m. to 4 p.m. to from 11.30 a.m. to 12.30 p.m. on the trade date plus two days (T+2). With this new regulation, investors can trade right in the afternoon trading session of T+2. According to the draft, the money for securities transactions will be transferred to investors' accounts one day earlier than the old regulations. Therefore, investors can use the money to buy securities right in the afternoon trading session of T+2 instead of having to advance money as before. The new regulation on clearing … [Read more...] about Securities stocks strengthen after draft on T+2 settlement cycle