Real estate sector sees surge in corporate bond sales to restructure debt
Real estate firms accounted for 32.1 per cent of the total market, with bond issuance reaching its highest level since the beginning of 2023, according to a report by the Vietnam Bond Market Association. Other major issuers included Lan Việt Real Estate Company Limited with VNĐ4.1 trillion, BIM Land with VNĐ2.33 trillion, and Tân Liên Phát Tân Cảng Logistics and Real Estate JSC with VNĐ2 trillion. The sluggish property market and reduced cash flows have forced many real estate developers to negotiate with bondholders to extend bond redemption dates. Key players in the real estate market, such as Sovico, Novaland, Hưng Thịnh, and Bamboo Capital, are all seeking extensions for multiple bond tranches. The corporate bond market has experienced a boom in recent years, driven by increased capital demand from property developers and banks.
Source:Viet Nam News
October 24, 2023 13:51 UTC
First-ever festival for ethnic groups with fewer than 10,000 people
Speaking at the press conference, Deputy Minister of Culture, Sports and Tourism Trinh Thi Thuy underlined the urgent need to preserve the cultural values of ethnic groups with fewer than 10,000 people. She stressed that the festival aims to encourage the groups to practice their cultures in the community. The cultural beauty of the groups will also be featured in all activities of the festival, including art performances, sports activities, exhibition, sports competitions and the introduction of their festivals and cuisines. Within the framework of the festival, the participating ethnic groups will demonstrate their traditional festivals and cultural practices, and introduce their traditional costumes. The event will gather 14 ethnic minority groups from 11 localities across the country./.
Source:Viet Nam News
October 24, 2023 12:03 UTC
Vietnam bags two bronze medals at 2023 Asian Shooting Championship
Vietnamese shooters get a bronze medal in the men’s 10m air pistol team at the ongoing 2023 Asia Shooting Championship . (Photo: tuoitre.vn)Hanoi (VNA) – Vietnamese shooters have got two bronze medals at the ongoing 2023 Asia Shooting Championship in Changwon city, the Republic of Korea (RoK). Asian Games champion Pham Quang Huy and his teammates Lai Cong Minh and Phan Cong Minh got a bronze medal in the men’s 10m air pistol team with 1,736 points. Meanwhile, the Chinese team got the gold medal with 1,750 points, and the RoK team got silver with 1,746 points. Another bronze medal for Vietnam was in women’s 10m air pistol as shooter Trinh Thu Vinh got 219.7 points, after Oh Ye Jin from RoK with 244.1 points, and Jian Ranxin from China with 241.8 points.
Source:Viet Nam News
October 24, 2023 10:38 UTC
VIETNAM NEWS HEADLINES OCTOBER 24/2023
Tourism experts of Vietnam and Japan compared notes on measures to handle tourist overload and build satellite destinations, towards the development of a more sustainable tourism for Vietnam, at in international seminar in Hanoi on October 23. Paravicini, for his part, said his working trip aims to step up Switzerland's economic development programme for Vietnam through activities that enhance financial transparency and accountability. They have also created favourable conditions for citizens of the two countries to cross the border, and promote investment, trade, and tourism activities. Wagner told his guest that the Supreme Court of Canada wants to strengthen cooperation and share experience with Vietnam, adding that Canada also expects to step up judicial collaboration with Vietnam. She also expressed her wish to further deepen ties with Vietnam in all areas, including politics-diplomacy, national defence-security, trade and economy, education and judicial affairs.
Source:Viet Nam News
October 24, 2023 10:04 UTC
Bad debt ratio of banking system surges to 3.56 per cent
Including bad debts that commercial banks sold to the Vietnam Asset Management Company (VAMC) and have not yet been recovered, the bad debt ratio rose to 6.16 per cent. This bad debt ratio includes the debts of five banks: SCB, Dong A Bank, CBBank, OceanBank, and GPBank, which are under the SBV’s special control. Excluding these five banks, the bad debt ratio stood at 1.92 per cent. Notably, the bad debt ratio in the real estate sector rose from 1.8 per cent in July 2022 to 2.58 per cent in July 2023. Some bank leaders believe the bad debt ratio will peak in the third quarter of this year and start to gradually decrease from the beginning of the next year.
Source:Viet Nam News
October 24, 2023 06:56 UTC
Vietnam secures first medal at Asian Para Games 2023
Hanoi (VNA) - Powerlifter Le Van Cong on October 23 won the first medal for Vietnam at the ongoing 4th Asian Para Games in Hangzhou, China. In the men's under-49kg category, Cong failed to lift 170kg in his first attempt. Powerlifter Le Van Cong (Photo: VNA)As a result, Cong won a bronze medal. Meanwhile, the silver medal went to Al-Sudani Muslim, and the gold in this category event was claimed by Paralympic champion Omar Qarada of Jordan who successfully lifted 182kg. As of 12:30 p.m. on October 23, Vietnam ranked 13th in the medal ranking at the event.
Source:Viet Nam News
October 23, 2023 10:20 UTC
Central bank forecast to continually issue bills amid abundant liquidity
HÀ NỘI — The State Bank of Vietnam (SBV) will continually issue new bills to withdraw cash from the banking system in the context that liquidity is abundant and interbank interest rates remain low, analysts forecast. This will stimulate dollar speculation and put pressure on the foreign exchange rate. Three scenariosKBSV’s analysts have outlined three scenarios for the SBV’s bill issue, corresponding to different foreign exchange rate zones. Nevertheless, Hà acknowledged the intricacy of the SBV's task, given the intricate relationship between interest rates and foreign exchange rates. On October 19, the dollar rate at commercial banks saw a significant surge, notably exceeding the VNĐ24,700 threshold.
Source:Viet Nam News
October 23, 2023 09:34 UTC
AES Mong Duong Recognized as a Top Taxpayer in the Country
Among the honored enterprises, AES Mong Duong stood out as a model of tax compliance and contributions to the state budget. Since beginning commercial operations in 2015, Mong Duong 2 Thermal Power Plant has always fulfilled its tax obligations to the state budget. In the period from 2020 to 2022, despite being affected by Covid-19, AES Mong Duong contributed more than VND2.1 trillion to the state budget and has constantly complied with tax regulations according to Vietnamese law. AES, through its subsidiary, AES Mong Duong Power Company Limited, has successfully developed and arranged financing for the Mong Duong 2 Power Project of 1,242 MW with total investment of approximately $2.1 billion. For more information, visit: www.aes-vietnam.comAbout AESThe AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy.
Source:Viet Nam News
October 23, 2023 09:34 UTC
Vietnamese airlines register 85 per cent on-time performance in Jan - Sept
HÀ NỘI — Vietnamese airlines registered an on-time performance (OTP) of 85 per cent in January – September, lower than the 87.8 per cent rate in the same period last year, according to the Civil Aviation Authority of Việt Nam. Bamboo Airways posted the best OTP of 92.4 per cent with 30,068 on-time flights. The rate of VASCO was 92 per cent, Vietravel Airlines 87.1 per cent, Vietnam Airlines 86.6 per cent, Pacific Airlines 14.2 per cent and VietJet 81.3 per cent. Nearly 221,200 flights were conducted in January – September, including 83,933 flights of VietJet, 79,234 flights of Vietnam Airlines and 32,538 flights of Bamboo Airways. International passengers rose by 300.2 per cent to 11.5 million, while domestic passengers fell by 3.6 per cent to 32.6 million.
Source:Viet Nam News
October 23, 2023 01:06 UTC
Foreign investors net sold for six consecutive months
HÀ NỘI Foreign investors' net selling was VNĐ4.6 trillion in September, the sixth consecutive month of net selling by foreign investors on the Vietnamese stock market, according to the State Securities Commission (SSC). In the first nine months of 2023, foreign investors net sold VNĐ11.46 trillion. Among them, there are 394 stock codes listed on HOSE, down six codes compared to September 2022; 330 codes on HNX, down 11 codes. Of these, domestic investors account for 7.8 million accounts (individual accounts over 7.76 million; institutional accounts over 15,700 accounts); foreign investors have 44,700 accounts (40,200 individuals and 4,506 institutional accounts). Domestic individual investors currently account for 99.2 per cent of accounts.
Source:Viet Nam News
October 22, 2023 19:44 UTC
VIETNAM NEWS HEADLINES OCTOBER 22/2023
Responding to PM Chinh's invitation, the Lao PM said he will visit Vietnam soon and co-chair the 46th meeting of the Vietnam-Laos Inter-Governmental Committee in Vietnam. The run is an annual fundraising event organized by the British Chamber of Commerce Vietnam (BritCham Vietnam) in support of various charity projects throughout the country. Nguyễn Trung Dũng, deputy general director of Casper Việt Nam, said: “Casper Việt Nam is honoured to be a key sponsor for the National Cup 2023-24. Talking about future cooperation, Thức said Việt Nam asked Germany to continue their support for Việt Nam in the future. Australia cooperates with Vietnam to promote gender equalityOn the occasion of the 93rd Vietnam Women’s Day (October 20, 1930-2023) and the 50th anniversary of Vietnam - Australia diplomatic relations (1973-2023), Australian Ambassador to Vietnam Andrew Goledzinowski reviewed the fruitful partnership on gender equality with Vietnam over the past time in an article.
Source:Viet Nam News
October 22, 2023 10:03 UTC
Let's preserve bio-diversity before it's too late
Still no further development has been heard these days on the proposed Kapet Reservoir. The forest means life for humans, a backbone of the economy, and the survival of a country. When he was alive, Prime Minister Phạm Văn Đồng used to stress the importance of protecting the forest: "Losing forest means losing soil. Losing forest means losing water. Losing forest means losing your country," he said.
Source:Viet Nam News
October 22, 2023 07:12 UTC
Vietnam likely to gross 9.3 bln USD from aquatic exports
Particularly, the number of orders from China is higher than the same period last year. Other key markets such as Japan, the EU, and the US have also shown signs of order recovery. The Vietnam Association of Seafood Exporters and Producers said in September, Vietnam’s aquatic exports reached 862 million USD, equivalent to that in the same period last year. The recovery was seen in the US, China and the EU markets with a year-on-year increase of between 4 and 17%. In the first nine months of this year, the export revenue of shrimp was 2.55 billion USD, a year-on-year decline of 25%.
Source:Viet Nam News
October 21, 2023 18:24 UTC
VIETNAM NEWS HEADLINES OCTOBER 21/2023
Mohammed bin Salman, for his part, affirmed that Vietnam is a leading partner of Saudi Arabia in Southeast Asia, expressing his hope that his country will accompany Vietnam in the future. The UAE President affirmed the priority to elevating comprehensive cooperation with Vietnam to new heights, adding that he will instruct the country's investment funds to actively explore opportunities in Vietnam. Al Said said the Omani Government attaches importance to furthering cooperation with Vietnam, especially in economy and investment. He proposed cooperation in digital economy based on the three pillars of digital institutions, digital infrastructure, and digital human resources. Exhibition introduces Vietnam’s 17 Faces of Action for Sustainable DevelopmentAn exhibition named “17 Faces of Action of Vietnam for Sustainable Development” opened at the Vietnam Women’s Museum on October 20.
Source:Viet Nam News
October 21, 2023 17:42 UTC
Vietnam speeds up public investment disbursement
The Ministry of Finance reported more than 14.8 billion USD was disbursed in January-September, or over 51% of the plan. The Vietnamese Government always considers public investment disbursement to be among key solutions to achieve economic growth. However, the disbursement rates remained sluggish in many ministries, agencies and localities due to the lack of accountability and bottlenecks in bidding and investment procedures. According to the insiders, it is crucial to improve the legal system to ensure the disbursement must go along with quality and efficiency. Administrative reforms and application of information technology should be promoted to speed up the handling of public investment procedures./.
Source:Viet Nam News
October 21, 2023 12:28 UTC