Việt Nam's economic growth to slow to 4.7% this year: World Bank
HÀ NỘI — Việt Nam’s real economic growth is expected to slow to 4.7 per cent this year before recovering to 5.5 per cent in 2024 and 6.0 per cent in 2025, according to Việt Nam’s Macro and Poverty Outlook released by the World Bank on Monday. According to the outlook, after last year’s strong rebound, the economy has been facing domestic and external headwinds in 2023. Weaker global growth and trade have dampened external demand for Vietnamese exports, in turn weighing on growth. Despite external headwinds, Việt Nam’s external position improved in Q1-2023, recording a current account surplus of 1.5 per cent of GDP. WB experts pointed out that slower-than-expected growth in advanced economies and China could further dampen external demand for Việt Nam’s exports.
Source:Viet Nam News
October 04, 2023 07:09 UTC
VIETNAM NEWS HEADLINES OCTOBER 4/2023
Vietnam will continue to cooperate with the international community in promoting gender equality and progress of women, the diplomat affirmed. The program was hosted by the Standing Board of the Ho Chi Minh City People’s Council in collaboration with the Voice of Ho Chi Minh City. A report should be prepared and sent to the provincial People’s Committee by October 10. Work on the five-kilometer road, funded by the People's Committee of Soc Son District, started on July 28, 2020. Speaking at the traffic opening ceremony, the Chairman of Soc Son District People's Committee, Pham Van Minh, highlighted the concerted efforts made by the district's authorities and the broader political system following the approval of the project by the Hanoi People's Committee.
Source:Viet Nam News
October 04, 2023 06:02 UTC
VN-Index hits more than 3-month low on strong sell-off
HÀ NỘI — The Vietnamese stock market fell more than 3 per cent on Tuesday, erasing nearly VNĐ149 trillion of the southern exchange's value. The market's benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) tumbled 37.15 points, or 3.22 per cent, to finish the trading day at 1,118.1 points. The strong correction led to an evaporation of nearly VNĐ149 trillion (US$6.1 billion) from HoSE's market value, according to cafef.vn. As of October 3, the market value of HoSE dropped to nearly VNĐ4.5 quadrillion. Liquidity on the southern bourse soared above VNĐ20 trillion today, with the trading value up 83.5 per cent from the previous session to VNĐ21.1 trillion.
Source:Viet Nam News
October 04, 2023 01:58 UTC
September PMI falls slightly despite increase in new orders
HCM CITY — The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) posted 49.7 in September, compared to 50.5 in August, despite the second successive monthly increase in new orders. Despite the continued pick-up in demand, manufacturers signalled that new order receipts remained relatively modest, leading to a scaling back of production. Purchasing was up for the second month running in response to growth of new orders and plans to increase output in the coming months. On a positive note, firms continued to see demand pick up, with a particularly encouraging rise in new orders signalled. If the recovery in new orders loses steam, however, firms will remain reluctant to expand capacity too quickly.
Source:Viet Nam News
October 04, 2023 01:44 UTC
Tracodi uses 35 million shares at BCG Land as collateral for credit loan
Both Tracodi and BCG Land are subsidiaries of Bamboo Capital Group (BCG). According to Tracodi, 35 million shares of BCG Land JSC are worth VNĐ427.2 billion, which means each share of BCG Land is worth VNĐ12,000. Pegas Company Limited was established in October 2021 and used to be a subsidiary of BCG Land. At the end of August 2023, Việt Nam Securities Depository and Clearing Corporation issued a securities registration certificate to BCG Land. On the stock market, Tracodi stock (TCD) price is trading at VNĐ8,060 per share.
Source:Viet Nam News
October 03, 2023 22:34 UTC
Vietnam expects to welcome 13 million foreign visitors this year
The proposal is based on positive signs in September as the country welcomed more than 1.05 million foreign visitors, marking the third consecutive month the figure has surpassed the one million mark. In the first nine months of this year, the tourism industry served 8.9 million foreign holidaymakers, and 93.5 million domestic tourists, pocketing over 22 billion USD, according to the Vietnam National Authority of Tourism. The Republic of Korea (RoK) remained the biggest source of tourists to Vietnam in the nine-month period with nearly 2.6 million, followed by China and Taiwan (China). The tourism sector has continued promoting tourism products and destinations, and major events. Meanwhile, localities have diversified tourism products, and stepped up promotion activities to attract both domestic and foreign holidaymakers in the remaining months of this year./.
Source:Viet Nam News
October 03, 2023 20:50 UTC
VIETNAM NEWS HEADLINES OCTOBER 3/2023
It will traverse 32 provinces and cities, connecting four key economic regions, including the two major economic hubs – Hà Nội and HCM City. Vietnam Design Week (September 26-29) is the first and largest annual design event in the country, organized by Vietnam Design Group, Vietnam National Institute of Culture and Arts (VICAS), the Department of Copyright, and the Hanoi Department of Culture and Sports to find and honor outstanding Vietnamese products and designers. Tatsumisago said the Osaka Metropolitan University considers the Vietnam National University, Hanoi (VNU) and VNU-HCM as strategic partners. Members of the Party Central Committee voted to let Dieu K'ré, member of the Party Central Committee and Permanent Deputy Secretary of the Dak Nong provincial Party Committee, cease holding his position as member of the 13th Party Central Committee. HCM City plans for urban railway developmentThe HCM City Management Authority for Urban Railways (MAUR) has introduced to the municipal People’s Committee a plan for the development of an urban railway system in the city.
Source:Viet Nam News
October 03, 2023 16:04 UTC
Hundreds of foreign investors arrive to explore Vietnam's investment opportunities
This year’s event witnessed the largest number of investors since the first conference held in 2005. The annual event is part of efforts to introduce attractive investment opportunities in Vietnam to international investors. It offers a venue for participants to inquire about perspectives and viewpoints from various experts about Vietnam’s investment attraction policies. The increase in the number of attendees this year demonstrates that Vietnam is becoming a more attractive investment destination than ever, he said, adding that this is a chance for VinaCapital experts to share deeper insights into attractive investment opportunities in the Vietnamese market. The US is expected to increase its foreign direct investment (FDI) in Vietnam as a result of these developments, he said./.
Source:Viet Nam News
October 03, 2023 13:22 UTC
AFF President hopes Việt Nam qualify for World Cup
The congress elected Mariano Araneta Jr, president of the Philippine Football Federation, Vice President of AFF, an additional position for the organisation. "Southeast Asian football has made strong development steps, contributing to elevating regional football on the international football map," said Tuấn. "The VFF is very pleased with the overall progress of Southeast Asian football, including the positive contribution of Vietnamese football. "The VFF has experienced as well as demonstrated professionalism when successfully hosting many important events of Southeast Asian and Asian football. Your success is also the pride of Southeast Asian football."
Source:Viet Nam News
October 03, 2023 12:57 UTC
ADB increases support for energy transition in Asia
Illustrative image (Photo: https://www.thestar.com.my/)– A new financing tool that allows Asian governments to force coal-fired power plants to shut down early is set to launch its first project in Indonesia following months of negotiations, according to the Asia Development Bank (ADB).ADB's senior climate advisor Warren Evans said the bank’s energy transition mechanism (ETM) makes use of private and public capital to refinance investments in coal-fired power plant s, allowing power purchase agreements to be shortened and plants to be shut as much as a decade earlier than planned.Negotiations on the “Cirebon One” project in Indonesia were now on schedule, and talks were also underway to launch a similar project in the Philippines, he said.This is the first that has ever been done, so there are a lot of challenges and uncertainties to be resolved, but the negotiations are proceeding, he noted.The mobilisation of climate finance to help developing countries adapt to climate change will be a major theme at COP28 climate talks in Dubai this year, Evans added.ADB recently launched its Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP), a donor-backed guarantee facility allowing the bank to free up billions of USD of capital for loans to climate projects in the region./.
Source:Viet Nam News
October 03, 2023 09:57 UTC
Thailand prepares response plans to flood-hit areas
Sandbags placed along the bank of the Chao Phraya River in Sathon district to cope with possible flooding. (Photo:bangkokpost.com)Bangkok (VNA) – Thai Prime Minister Srettha Thavisin on September 30 asked a prompt response to floods now occurring in several provinces in upper Thailand. The PM emphasised the need for all state agencies concerned to reach out to flood victims as fast as possible to ensure their safety and flood relief. Defence Minister Sutin Klungsang rushed to Udon Thani province where two districts, Phen and Si That, were being inundated. He said he has instructed a number of military medical teams to be deployed in flood-hit areas to ensure flood victims receive proper care./.
Source:Viet Nam News
October 01, 2023 12:38 UTC
Việt Nam’s women volleyball team enter quarter-finals of Asian Games
Asian GamesHÀ NỘI — The Vietnamese women's volleyball team staged a remarkable comeback to defeat the former Asian champions, South Korea, and secure a spot in the quarter-finals of the 19th Asian Games (ASIAD) in China on Sunday. In a thrilling match, Việt Nam emerged victorious with a 3-2 (16-25, 22-25, 25-22, 25-22, 15-11) win. This victory against South Korea mirrored a similar comeback that Việt Nam achieved against the same team during the Asian Women's Volleyball Championship 2023 in August. In the second set, Việt Nam displayed improved performance and battled fiercely with South Korea. With the pressure mounting after losing the first two sets, Việt Nam exhibited resilience and determination to mount a strong comeback.
Source:Viet Nam News
October 01, 2023 11:04 UTC
HCM City to build second blood bank
According to the plan, the new blood bank will be able to receive and store 1 million blood units per year until 2050. The first blood bank has sometimes operated at its maximum capacity, a representative from the blood bank said. According to HCM City's authorities, Vietnam had a population of 96 million and received 1.4 million units of blood donated by individuals six years ago, with one-third of the figure collected in the city. The country's population has risen to around 100 million, which means the demand for storing blood has increased./.
Source:Viet Nam News
October 01, 2023 10:31 UTC
VIETNAM NEWS HEADLINES OCTOBER 1/2023
The event was jointly organised by the National Children's Hospital (NCH), the Vietnam Paediatrics Association (VPA), the Vietnam Nutrition Association, the Japan International Cooperation Agency (JICA), Asahi Group Foods JSC and the Japanese Embassy in Vietnam. If approved, Hoi An would be the second city in Vietnam, following Hanoi, to join the network. The visit showed the world that Vietnam was not alone in its struggle and affirmed the unconditional support of the Cuban people for Vietnam, she said. Vietnam has been named by HSBC as an attractive destination for foreign businesses, while the ADB predicted that Vietnam will fully recover in a short time. Vietnam helps Laos’ police build academy of politicsA handover ceremony of the Academy of Politics of the Lao People's Public Security, the gift of Vietnam for Laos, took place in Vientiane on September 29.
Source:Viet Nam News
October 01, 2023 07:07 UTC
Vibrant VeJo adds to city's veggie options
by Nguyễn Mỹ HàTucked away on the small street of Bát Đàn in the Old Quarter, VeJo grew from a tiny fine dining option to address health-conscious diners. Even the nuts, cashew nuts in particular, have been sourced from the orchards with the oldest trees in Bình Phước Province, which bring the world's best cashew nuts. "At VeJo, our team works towards convincing meat eaters that going veggie is not that hard," Thái Thanh Thủy, the owner of Vejo, told Việt Nam News. When you try VeJo for the first time, it's wise to try the set menu, as it has all the best-selling options, but bite-size. Well-located in the heart of the Old Quarter, VeJo offers the best dishes made with fresh ingredients from certified local farms.
Source:Viet Nam News
October 01, 2023 05:26 UTC