Lng why prospects are bright in the near term

by Lê Hương When mentioning the flamboyant flower (peacock flower), people think of a bright summer basking in nature and the enthusiasm of local people. The flower also makes people think of Hải Phòng coastal city, known as the 'city of the red flamboyant.' In May, when the bright summer sunshine lights up the streets, the red flamboyant blooms bring out the city's soul. Streets along around the Opera House such as Hoàng Văn Thụ, Đinh Tiên Hoàng, Quang Trung, Nguyễn Đức Cảnh, Trần Phú, Lê Hồng Phong, Lạch Tray and Cầu Đất are all covered with the red blooms. People like to take photos with the flower.  — VNS Photo An Đăng Local elders say the tree was brought from Madagascar and planted in the city by the French 100 years ago. “At first,”the tree was named Ba Giăng,” said local Lê Hồng Tâm. “But then it was called Phượng Vĩ (Phoenix’ Tail) as the five-petal flower looks like a phoenix dancing and the leaves spread like phoenix tails. The tree grows well in the local … [Read more...] about Hải Phòng’s most beautiful season

Customers at a bank in Ha Noi. The small gap between deposit and lending rates will cause the banks’ net interest margin (NIM) and net profit to reduce. — Photo baochinhphu.vn Though credit demand is recovering quickly, banks still have to face big challenges related to rising bad debts, provisions and deposit interest rates. According to Le Xuan Nghia, former deputy chairman of the National Financial Supervisory Commission, the US Federal Reserve (Fed) will continually increase interest rates this year, which will force Vietnamese banks to raise deposit rates. Despite the high increase in saving rates, domestic banks will not be able to raise lending rates accordingly to support the economy as directed by the Government. The small gap between deposit and lending rates will cause the banks’ net interest margin (NIM) and net profit to reduce, Nghia explained. Besides, for a long time, many banks have gained good profits from real estate credit, and investment in and issuance … [Read more...] about Banks under pressure despite positive credit recovery

Facilities of PetroVietnam Gas JSC (GAS). GAS increased by 4.5 per cent last week. — Photo pvgas.com.vn HÀ NỘI — Although the rally in recent sessions was quite positive, with the temporary cautious state of cash flow, it is likely that the market will need a step back to re-test supply and demand, said brokerages. The VN-Index on the Hồ Chí Minh Stock Exchange declined 0.07 per cent to close the week at 1.240,71 points. The index had risen 4.9 per cent last week. An average of 547.2 million shares were traded on the southern exchange during each session last week, worth VNĐ13.6 trillion (US$587 million). “Markets ended the last session of the week in a state of hesitation below the reference level. After a strong reversal on May 17, selling pressure at the end of the session still took place on the low base,” said VDSC Securities Co. “Movements in industry groups are also diverging. The caution is still covering investors’ sentiment. Therefore, it is likely that the … [Read more...] about Shares to correct further on cautious sentiment of investors

Textile and footwear exports to the US, the EU, and Southeast Asia have grown strongly In the first four months of 2022, the two major industries that contributed to Vietnam’s total export value have recovered faster than expected in terms of production and export performance. Their combined export value surpassed $19 billion, of which the textile sector counted nearly $11.9 billion, up 22.5 per cent on-year, and that of footwear reached $7.32 billion, up 12.4 per cent on-year. Vietnam’s textile export value to the US rose sharply to $6.6 billion, up 26.8 per cent on-year, corresponding to an increase of $1.26 billion. With this result, the US market contributed up to 59 per cent to the export value of this product. In 2022, the leather and footwear industry is set to reach an export target of $23-25 ​​billion, up 10-15 per cent on-year while the textile sector aims to post $42.5-43 billion in total export value. The export value of this product group to the EU … [Read more...] about Rosy apparel and footwear exports in the year to date

Ambassador Lê Thị Tuyết Mai, Permanent Representative of Việt Nam to the United Nations, the World Trade Organisation (WTO) and other international organisations in Geneva. — VNA/VNS Photo GENEVA — Deputy Prime Minister Lê Minh Khái will attend the 52nd World Economic Forum (WEF) annual meeting from May 23-24 in Davos, Switzerland, at the invitation of WEF Founder and Executive Chairman Professor Klaus Schwab. This will be one of the major multilateral foreign relations activities of Việt Nam in 2022, especially in the context that the annual meeting of this major global economic forum has been postponed over the past two years due to COVID-19, according to Ambassador Lê Thị Tuyết Mai, Permanent Representative of Việt Nam to the United Nations, the World Trade Organisation (WTO) and other international organisations in Geneva. She said that since Việt Nam and the WEF set up their relationship in 1989, leaders of both sides have paid great attention to the promotion of bilateral … [Read more...] about Việt Nam to introduce national development strategies at 2022 Davos WEF: Ambassador

Director-General of the International Labour Organisation (ILO) Guy Ryder. — VNA/VNS Photo Hồng Minh Director-General of the International Labour Organisation (ILO) Guy Ryder has praised Việt Nam’s pioneering role and efforts to eliminate child labour during an interview granted to the Vietnam News Agency (VNA)'s correspondent in South Africa on the sidelines of the 5th global conference on the elimination of child labour in Durban. Việt Nam is one of the Pathfinder countries of the Alliance 8.7. What does it mean to the fight in Chapter Eight labour and like, what can Việt Nam in particular, and other parts of the countries do to further contribute to the fight? Alliance 8.7 is a global alliance of governments, civil society organisations and international organisations to fight against child labour, and indeed forced labour. And we're very pleased that Việt Nam has joined as one of 26 pioneer countries. What does that mean? It means that Việt Nam is putting its hand up and … [Read more...] about ILO Director-General praises Việt Nam’s efforts in elimination of child labour