This expansion was due mainly to a 4% on-quarter growth in government bonds to US$51 billion as the central bank increased issuance of bills. Vietnam’s bond market registered growth of 3.4% on-quarter and 1.9% on-year to US$55.1 billion as of the end-September, according to the latest edition of the Asian Development Bank’s (ADB) Asia Bond Monitor. This expansion was due mainly to a 4% on-quarter growth in government bonds to US$51 billion as the State Bank of Vietnam (SBV), the country’s central bank, increased issuance of central bank bills. The overall expansion of the country’s local currency bond market was slightly tempered by a 2.8% contraction on-quarter in the corporate bond market to US$5 billion. Nevertheless, the corporate bond market still posted growth of 4.2% year-on-year. Yield movement Vietnam’s local currency government bond yield curve shifted downward between August 31 and October 15. Bond yields for … [Read more...] about Vietnam’s bond market grows 1.9% in Jan-Sep, reaching US$55 billion
Vietnam may be a coffee-exporting country but local consumers have grown fond of tea-based drinks, a report by Kantar Worldpanel shows. Tea-based drinks, including RTD (ready-to-drink) and RTS (ready-to-serve) beverages, are now consumed by over half of Ho Chi Minh City’s population. Coffee, on the other hand, reaches just one-third of the city’s population, according to the Out-of-Home (OOH) Panel. Among tea-based drinks, bubble tea, also known as milk tea or boba, appears to be the top option, followed by peach tea and matcha or green tea, a Japanese-inspired drink whose popularity seems to be on the rise. According to the survey, at least one in five Ho Chi Minh City residents bought milk tea at least once in September. Not only are the tea-based products more popular than coffee, but consumers are also willing to pay 1.5 to 2 times higher for the top three tea-based choices mentioned above. The trend has given way to a boom in milk tea outlets … [Read more...] about Tea-based drinks outplay coffee in caffeine-loving Vietnam: report
Since issuing corporate bonds has become easy thanks to open regulations, it is necessary to tighten control over bond issuance. According to Saigon Securities Incorporated (SSI), VND129.016 trillion worth of corporate bonds were offered to sell in the first eight months of the year and 90.08 percent was sold. VND22.664 trillion, or 61 percent of bonds, were sold to domestic investors. However, it’s unclear who the ‘domestic investors’ are. Meanwhile, bonds cannot sell to individual investors who don’t have deep knowledge about the market. The analysts blamed the hot corporate bond market on the easy requirements stipulated in Decree 163. Hai Linh Anonymous foreign investor buys entire batch of Phu My Hung bonds Phu My Hung Development Corporation has mobilised VND800 billion ($34.78 million) for real estate projects from a "secret" foreign investor through bond sales. Vietnam’s bond market continues growth Vietnam’s … [Read more...] about Is the corporate bond market too hot?
Dong Nai is leading nationwide in the number of enterprises specialising in processing and exporting wood products with over 1,000 companies, employing about 60,000 workers. This is the first time a collective labor agreement has been signed in local woodwork companies. Under the agreement, every year, the enterprises will consider raising salary for qualified workers in line with regulations, with the minimum raise of 5 percent of their salary based on task and position. The firms will reward at least one month’s salary as a bonus at the end of the year for those who meet requirements, and inform the workers 15 days before the Lunar New Year at the latest. Photo: VNA The agreement also stipulates that mid-shift meals must be of high nutritional value. According to Nguyen Thi Nhu Y, President of the provincial Labour Federation, to achieve the signing of the agreement, relevant agencies have coordinated with the Vietnam General Confederation of Labor (VGCL) to … [Read more...] about Dong Nai: wood firms ink collective labor agreement
The welcoming ceremony was held at the headquaters of the Ministry of National Defense in Hanoi with the participation of Ambassador Dan Kritenbrink and military leaders of the two sides. Minister of National Defense General Ngo Xuan Lich affirmed the defense cooperation is an important landmark for the Vietnam-US comprehensive partnership. The US Secretary of Defense Mark Esper’s trip to Vietnam aims to implement contents of the agreement on promoting defense collaboration signed between the two ministries, make a contribution to the friendship between the armed forces and people of two countries. At the meeting, the two sides shared concerns and issues, and stressed the importance of maintaining a peaceful and stable environment for the development. The two ministers also highly appreciated the results in missing-in-action servicemen, bomb and mine clearance, Agent Orange (AO)/dioxin remediation, United Nations peace-keeping operations, training, military medicine and the … [Read more...] about Vietnam – US strengthening defense cooperation