Encouraging foreign direct investment can can strengthen the equity base of airlines

Permanent Deputy Prime Minister Phạm Bình Minh has paid courtesy call to Japanese Prime Minister Kishida Fumio during the trip to Japan to attend the International Conference on the Future of Asia. — VNA/VNS Photo HÀ NỘI — During the visit to Japan, Permanent Deputy Prime Minister Phạm Bình Minh has paid courtesy calls to Japanese Prime Minister Kishida Fumio and several other Japanese high-ranking officials on May 26-27. During the meetings, Deputy PM Minh said Việt Nam always considers Japan as an extensive, reliable, and important strategic partner, hoping that the two sides would continue to implement important agreements and common understandings obtained during the official visits of PM Phạm Minh Chính and PM Kishida Fumio, contributing to the promotion of bilateral relations. The Deputy PM emphasised that as the two sides are reopening with the COVID-19 situation under control, Việt Nam and Japan must continue to exchange high-level delegations, especially through … [Read more...] about Vietnamese Deputy PM calls for investment from Japan in meeting with PM Kishida

Minh made the call during meetings with Japanese leaders as part of his trip to Japan to attend the 27th International Conference on the Future of Asia from May 26-27. The Deputy PM paid a courtesy visit to Japanese Prime Minister Kishida Fumio, and met with Speaker of the House of Representatives Hosoda Hiroyuki, President of the House of Councilors Santo Akiko, Chairman of the Japan - Vietnam Parliamentary Friendship Alliance Nikai Toshihiro, Secretary General of the Liberal Democratic Party Toshimitsu Motegi and public relations chief of the Party Taro Kono, Minister of Foreign Affairs Yoshimasa Hayashi, Minister of Economy, Trade and Industry Hagiuda Koichi, and the Governors of Kanagawa and Gunma prefectures, among others. Minh affirmed that Vietnam always considers Japan a leading strategic partner, and noted his hope that the two sides will continue to fruitfully implement major agreements and common perceptions reached during mutual visits by PM Pham Minh Chinh and his … [Read more...] about Deputy PM calls for more Japanese investment in Vietnam

S&P forecast Vietnam’s GDP will grow 6.9% in 2022 before settling closer to its long-term trend of growing 6.5%-7% from 2023 onward. S&P Global Ratings on May 26 raised its long-term foreign and local currency sovereign credit ratings on Vietnam to 'BB+' from 'BB'. S&P expects Vietnam's economy to continue its upward trend. Source: S&P The rating agency also affirmed the country’s short-term rating at ‘B’ with a stable outlook. “The stable outlook reflects our expectations that over the next 12-24 months, Vietnam's economy will continue to recover from the challenges posed by the pandemic over the past two years. This will support the external position and rein in fiscal deficits,” it noted. S&P added it could raise the ratings if Vietnam's institutional settings improve considerably, in ways that augment policy predictability and transparency. Such favorable changes in the policy environment could bolster investor confidence in the … [Read more...] about Vietnam’s long-term credit rating upgraded to “BB+”: S&P

It was necessary to improve the legal framework for REITs so that investors could feel secure in investing. — VNA/VNS Photo HÀ NỘI — Việt Nam needs to improve the legal framework to promote the development of real estate investment trusts (REITs) to add capital to the property market while bank credit and corporate bond issuance were being tightened. According to the Việt Nam Association of Realtors, property developers mainly raised capital from stakeholders, bank credit and corporate bond issuance. The tightening of bank credit and corporate bond issuance would force them to look for alternatives and REITs were predicted to become more popular as a capital raising channel for developers, the association said. REIT was a form of capital contribution for one or a porfolio of real estate projects, real estate enterprises by individuals and organisations through the buying of shares or fund certificates and getting returns based on the performance of the real estate … [Read more...] about It’s time to promote the development of REITs: association

Garment production for export at Kim Dung Textile and Garment Company in District 12, Ho Chi Minh City. (Photo: SGGP) Dependence on imported raw materials Ms. Nguyen Thi Tuyet Mai, Deputy General Secretary of the Vietnam Textile and Apparel Association, said that the total number of enterprises participating in the textile and garment sector in Vietnam, including foreign and domestic enterprises, is more than 7,000. Of which, only 18 percent of them produce fabric materials, 12 percent produce yarn, 2 percent produce other materials, and the rest are garment enterprises. This fact has put the textile industry in front of the challenge of unstable growth due to its dependence on imported raw materials. Currently, each year, Vietnam imports 100 percent of cotton with an estimated value of US$3.2 billion and 60 percent of fabric with an estimated value of $14 billion. The US is the largest cotton and fabric import market of Vietnam, followed by China, Japan, South Korea, and … [Read more...] about Vietnamese textile-garment industry strong but not stable