An employee opens the door for customers at a store of FPT Corporation (FPT). FPT lost 1 per cent Tuesday. — Photo FPT Viet Nam's stock market finished lower on Tuesday on strong selling force from both local and foreign investors. The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) lost 0.79 per cent, to 1,339.84 points. The market's breadth was negative with 126 stocks increasing, while 275 stocks declined. The VN-Index had lost 0.16 per cent, to close Monday at 1,350.48 points. Investors poured over VND23.4 trillion (US$1 billion) into the southern bourse, equivalent to a trading volume of nearly 860 million shares. The VN30-Index, tracking the 30 biggest stocks in market capitalisation on HoSE, posted a loss of 0.85 per cent, to 1,446.22 points. Of the VN30 basket, four stocks climbed, while 25 slid. “With the market recovering when hitting the support level of 1,330 points, VN-Index is likely to still move around 1,350 points in the next trading … [Read more...] about Shares drop on strong selling force
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Vietnamese Ambassador to the UK Nguyen Hoang Long (second from right) and British guests at the ceremony. (Photo: VNA) London (VNA) – The Vietnamese Embassy in the UK held a ceremony on September 20 to celebrate the 76th anniversary of the National Day, gathering more than 500 guests from the host country's parliament, ministries, sectors, localities, international organisations in the UK and the Vietnamese community in the country. Speaker of the House of Commons of the UK Lindsay Hoyle ; Minister of State at the Foreign, Commonwealth & Development Amanda Milling, Secretary of State for Defence Ben Wallace; and Communist Party of Britain (CPB) General Secretary Robert Griffiths were among guests. Addressing the event, Vietnamese Ambassador to the UK Nguyen Hoang Long underlined that the event also aims to celebrate the friendship between Vietnam and partners and all countries in the world. Highlighting the achievements that Vietnam has made after 35 years of “Doi … [Read more...] about National Day celebration held in London
Online platforms will help Vietnamese businesses expand their foothold in the foreign market. Vietnamese furniture exporters have been grasping opportunities to expand their foothold in the foreign market as the country is a member of multiple trade deals including the CPTPP and EVFTA, being emerged as an attractive alternative option. Making wooden products in a facility in Ung Hoa District, Hanoi. Photo: Cong Hung Insiders have said that the challenges are huge, but the opportunities since the pandemic have been pushing major buyers in Europe, the US, or Japan to look beyond China. Local firms, however, would not be able to grasp such opportunities if they are unable to approach customers during the pandemic. Taking furniture to online platforms While the Covid-19 pandemic has been causing tremendous hardship for businesses over the world, the combination of traditional and online selling channels is expected to open the door for Vietnam’s wood … [Read more...] about Vietnam’s wood industry strives to extend its reach globally
A screenshot of a virtual press conference on the Indonesia- Latin America and Caribbean Business Forum (INA-LAC Business Forum) on September 20, 2021. (Photo: ANTARA) Jakarta (VNA) - Indonesia will continue to promote economic cooperation with Latin America and the Caribbean through the Indonesia-Latin America and Caribbean Business Forum (INA-LAC Business Forum) slated for October 14-15, according to an official of the Indonesian Foreign Ministry. "As a country with the biggest economy in Southeast Asia, Indonesia has the potential to take advantage of the Latin American and Caribbean economies," director general of America and Europe at the Ministry of Foreign Affairs, I Gede Ngurah Swajaya, said at a virtual press conference on September 20. He said the potential of the Latin America region, whose gross domestic product (GDP) has reached 4.8 trillion USD, and Indonesia, whose GDP has been recorded at more than 1 trillion USD, should be optimised through … [Read more...] about Indonesia to promote economic cooperation with Latin America
After acquisition of Mobicast and Reddi, can Masan become the “Reliance Jio” of Vietnam? On September 21, The Sherpa, a subsidiary of Masan Group Corporation, announced an investment of $13 million to acquire a 70-per-cent stake in mobile virtual network operator (MVNO) Mobicast and officially expand to the telecommunications sector. This is Masan's first step into the digital services sector. Mobicast's services target tech-savvy customers with great demand for data usage and digital lifestyle. As a result, the startup can help Masan to complete its offline-to-online offerings of necessities and financial services. An MVNO offers a fast and cost-efficient system to build transmission and reception network infrastructure. Besides this, an MVNO is considered a catalyst for competition in the mobile telecommunications market. MVNO players will develop value-added services on mobile devices, helping to improve quality and diversify experiences. It is estimated that necessities … [Read more...] about After acquisition of Mobicast and Reddi, can Masan become the “Reliance Jio” of Vietnam?
Vietnam remains steadfast on pursuing bilateral economic relations with the US towards harmonization and sustainability, according to the Ministry of Foreign Affairs. Any possible US probe into plywood imports from Vietnam should be fair, according to Le Thi Thu Hang, spokesperson of the Vietnamese Ministry of Foreign Affairs (MoFA). US probe into Vietnam plywood imports should be fair. “Such an investigation should take into account international and World Trade Organization (WTO) practices, as well as the sound economic – trade relations between Vietnam and the US,” Hang said at a press conference on June 11, adding it needs to ensure rightful benefits of law-compliant enterprises and customers from the two countries. Hang noted bilateral trade turnover in 2019 hit nearly US$76 billion, up 26.2% year-on-year. Vietnam remains steadfast on enhancing bilateral trade – economic – investment relations with the US towards building harmonious, sustainable and … [Read more...] about US probe into Vietnam plywood imports should be fair: Spokesperson