An employee opens the door for customers at a store of FPT Corporation (FPT). FPT lost 1 per cent Tuesday. Photo FPT HÀ NỘI - Việt 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 Hồ Chí 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 VNĐ23.4 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 … [Read more...] about Shares drop on strong selling force
Vietnam is racing against time to vaccinate people in order to soon reopen the economy in affected areas. Vietnam’s Covid-19 cases have reached 707,436 as of Sept. 21, including 67% have recovered, statistics by the Ministry of Health showed. Military medics are important in the pandemic fight in Vietnam. Photo: VNA The total infections were mostly detected in Ho Chi Minh City (49%), Binh Duong (26%), Dong Nai (5%), and Long An (4%). The death toll hit more than 17,000, including 76% in Ho Chi Minh City. The number of average daily infections in Vietnam was 10,330/day over the past week while the number of deaths was 229/day during the week. As the transmission is widespread, Vietnam is racing against time to vaccinate people in order to soon reopen the economy in affected areas. So far, more than 35 million vaccine doses have been administered, including nearly seven million people are fully vaccinated. To get as much vaccine as possible, the country … [Read more...] about Today’s Covid News: Vietnam’s coronavirus infections surpass 700,000
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
In response to the World Tourism Day 2021, Vietnam has set up step-by-step plan to welcome international visitors again. The United Nations World Tourism Organization (UNWTO) has announced World Tourism Day 2021 on September 27 as a day to “focus on tourism for inclusive growth”. This is an opportunity for all nations, including Vietnam, to look beyond tourism statistics and acknowledge that, behind every number, there is a person. The Bat Xat terraced rice fields, Sapa Town, Lao Cai Province. Photo: James Huynh On this occasion, the UNWTO reaffirmed a commitment to build a more prosperous and peaceful world through tourism. "As tourism grows, the benefits that come will be felt at every level of our broad and diverse sector, from the biggest airline to the smallest family," it said. “It is a pledge that is both timely and necessary in the pandemic because it has led to the pause in international travel, making a clear relevance of tourism to our … [Read more...] about Vietnam responds to World Tourism Day 2021 for inclusive growth
A report released Monday places Vietnam in 44th position overall and first position among the lower-middle income economies. It retains its top position in the lower middle-income bracket from last year. With a score of 37, Vietnam is placed behind Thailand and ahead of Russia in the worldwide ranking and ahead of India in the lower middle-income bracket. The report mentions Vietnam as one of four economies (the others being Turkey, India and the Philippines) with the potential to change the global innovation landscape, systematically catching up with other economies like China. Vietnam in particular is among several developing economies that have held the record for over-performing on innovation relative to their level of development for the 11th year in the row, the report says. In Asia (excluding Western Asia), Vietnam is ranked 8th among 25 economies in the region, behind Thailand and ahead of India. The 2021 Global Innovation Index, issued by the World Intellectual … [Read more...] about Vietnam top innovator among lower middle-income economies: report
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?