American agricultural products are available in many parts of Vietnam and some are becoming well-received in the country of 100 million people. Agriculture plays a prominent role in trade relations between the US and Vietnam, US Ambassador to Vietnam Marc Evans Knapper has said. US Ambassador to Vietnam Marc Evans Knapper at a press conference in Hanoi. Photo: NLD The ambassador shared the idea at the United Tastes of Food and Wine Reception held in Hanoi earlier this week in collaboration between the US Embassy, the California Milk Advisory Board, and the Nebraska Department of Agriculture. To boost the market share of American agricultural products in the Southeast Asian country, relevant agencies are working for further availability. “We are looking for ways to expand US agricultural imports into Vietnam,” Ambassador Knapper said. What Ambassador Knapper said might be true, based on the fact that American agricultural products are safe and … [Read more...] about [Vietnam-US relations] Agriculture – a prominent pillar in US-Vietnam trade: Marc Knapper
Circuit breaker sales
Phat Dat’s strategy to successfully acquire new real estate projects
In 2020, chairman Nguyen Van Dat appointed you as CEO of Phat Dat. Taking on this new responsibility, how did you feel back then? Throughout Phat Dat's 16-year history, the chairman and founder exerted his influence on every decision. In such a context, I found myself in a favourable situation thanks to the inherited strategic orientations from the chairman and the determined management team. Besides this, Phat Dat has embarked on an ambitious plan for 2019-2023 to restructure its investment portfolio, targeting billions USD in market cap and exceeding 50 per cent in compound growth rate. Growing up inside the organisation, I am enthusiastic about Phat Dat's development. My new task, which capitalises on the past achievements and simultaneously accompanies the chairman to write Phat Dat's further development, is really challenging. When I received the appointment decision, many thoughts crossed my mind. I immediately told myself that I must live well, grow strongly, and see … [Read more...] about Phat Dat’s strategy to successfully acquire new real estate projects
Export growth may be slower than expected in H2: HSBC
Exports increased 17% year on year in the first half of 2022. (Photo: VNA) Hanoi (VNA) - Vietnam saw a year-on-year increase of 17% in exports in the first six months, but it will be hard for overseas shipments to meet expectations in the last half of the year, according to the HSBC . In its “Vietnam at a glance” report released on August 17, it said after the impressive export growth in H1, a slower-than-expected pace has been recorded since the start of H2. The main cause is a growth slowdown in the electronics industry, especially mobile phones. Samsung’s second-quarter results show that demand for consumer electronics is weakening, thus affecting the smartphone, TV, and other segments. While textile, garment and footwear exports rose sharply, by 30% from a year earlier, the Vietnam Textile and Apparel Association forecast the amount ordered will decline in the time ahead. In July, import growth also slowed down to only 3.4% compared to the double-figure … [Read more...] about Export growth may be slower than expected in H2: HSBC
Banks should tighten assessment control of their corporate bonds investments: experts
Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - Banks must tighten their assessment control of corporate bond investment s to avoid excessive risk and the misuse of funds raised by firms, experts said. In early April, the Banking Supervision Agency, under the State Bank of Vietnam ( SBV ) conducted an inspection of corporate bond investment activities at seven banks, while the Ministry of Finance inspected one bank. According to the SBV, by the end of 2021, there are 41 credit institutions holding 274 trillion VND (11.7 billion USD) of corporate bonds, of which more than 75% of them are held by ten major banks - Techcombank, MBBank, VP Bank , TPBank, BIDV, Vietcombank, VietinBank, HDBank, ABBank and SeABank. At some banks, the value of corporate bonds exceeds 10% of total assets. Although the inspection results were not published, a SBV senior leader said in an interview with Vietnam Investment Review that a number of credit institutions failed to accurately … [Read more...] about Banks should tighten assessment control of their corporate bonds investments: experts
Luxury sneakers may be a step too far for cash-strapped Gen Z
SHANGHAI/PARIS -- From $300 bucket hats to $900 sneakers and $700 t-shirts, the high-flying luxury sector is fretting over the appetite among financially stretched Gen Z consumers for such "aspirational" purchases. Executives are troubled in particular by a hit to young Chinese shoppers, not only because mainland China has been a major driver of the industry's growth in recent years, but also because high end consumers in the world's second-largest economy are a decade younger than the global average of 38. Young adults around the world have been "a very strong factor of luxury growth over the past decade," said Gregory Boutte, chief client and digital officer at Gucci-owner Kering. Data this week showed China's economy slowed unexpectedly, prompting a central bank rate cut, while macroeconomic trends are disproportionately impacting the extra funds that those born between 1996 and 2012 might use to enter the world of luxury. Whereas in North America and Europe, inflation and … [Read more...] about Luxury sneakers may be a step too far for cash-strapped Gen Z
Quang Ninh revives OCOP product promotion to boost post-pandemic recovery
A store selling OCOP products in Quang Ninh. (Photo: VNA) Hanoi (VNA) – The northern province of Quang Ninh now has more than 500 products developed by 189 companies, cooperatives and production facilities under the “ One Commune , One Product ” (OCOP) programme, local data shows. Of the total, 267 have been rated from three to five stars. Most of OCOP products win preference by customers and have gained a strong foothold in the market, with many now available in foreign countries. The COVID-19 pandemic has seriously disrupted production and supply chains, taking a heavy toll on the health of many OCOP producers, said Hoang Duc Kha, Deputy Director of the Industry and Trade Promotion and Development Centre under the provincial Department of Industry and Trade. He said Quang Ninh will selectively organise and attend trade promotion events in order to stimulate domestic demand post-pandemic and boost sales of OCOP products, reviving local enterprises. Kha highlighted … [Read more...] about Quang Ninh revives OCOP product promotion to boost post-pandemic recovery
