Pentagon report on china

Hanoi (VNA) – The following is a brief review of the day’s events as reported by the Vietnam News Agency on May 24. - Deputy Prime Minister Le Minh Khai on May 23 led a Vietnamese delegation to attend the 52nd World Economic Forum (WEF) annual meeting. He proposed the establishment of a food innovation hub for Southeast Asia in Vietnam when addressing the “Averting a Global Food Crisis” session, a panel discussion with World Food Programme Executive Director David Beasley, UAE Climate and Environment Minister Mariam Mohammed Saeed Al Mheiri, Tanzania’s Vice President Philip Isdor Mpango, and CEO of the Swiss agriculture company Syngenta, J Erik Fyrwald. Read full story - The Ministry of Foreign Affairs and the US Embassy on May 24 co-organised a ceremony to inaugurate the US-Vietnam Cooperation Centre at the Diplomatic Academy of Vietnam (DAV)’s campus in Hanoi. The new centre is an outcome of the partnership between the embassy’s Public Affairs Section and the DAV which … [Read more...] about ☕ Afternoon briefing on May 24

It was followed by Hanoi at $140, and Da Nang City at $80, according to a report by real estate consultancy Cushman Wakefield. The average rent in the southern region is $135, and in the north, $109. Northern industrial hubs are seeing an average occupancy of 80 percent, thanks to multinationals’ transition of manufacturing from China. The central region has an average rent of $34, with an occupancy of 67 percent. The main industries there are food processing, heavy industries, oil, energy, textile and footwear. Another report by real estate consultancy Jones Lang LaSalle (JLL) showed that rents were $120 per square meter per term in the first quarter in southern localities, up 9 percent year-on-year. The rise came as foreign companies increased their investment in Vietnam as the economy reopened. Real estate consultancy Colliers Vietnam said HCMC has seen industrial land rent rising by 8-9 percent annually in recent years, and companies are expanding to other southern … [Read more...] about High demand pushes industrial land rent up

Steel wire coil stored at a steel mill in the northern province of Hung Yen. — VNA/VNS Photo Duc Dung Steel prices have been steadily on the decline in the last few weeks as prices for raw materials dropped on the global market, according to the Vietnam Steel Association (VSA). VSA reported prices for iron ore have gone down to US$139 per tonne, a $16 decrease from prices at the beginning of April, and a $71-73 decrease from the record-breaking prices reported in May 2021 at $210-212 per tonne. Meanwhile, prices for steel scrap have also seen a significant drop to $530 per tonne, a $94 decrease from early April. Hot-rolled coil has fallen to $797 per tonne, an $81 decrease. Since the beginning of the year, demand for steel in the domestic market has been high as economic recovery was in full swing. Steelmakers, taking full advantage of robust demand, also raised their prices on the pretext of higher input costs of imported raw materials. However, a sharp fall in demand in … [Read more...] about Steel prices cool down as input costs drop

Though the benchmark VN-Index has lost nearly 19 percent this year, the bank said it was confident about the long-term prospects of the market as companies have been "on a roll" in terms of growth and profits in recent years. The average earnings per share of listed companies had grown by 35 percent last year, and while trading had dipped in the last few months, the Vietnamese market had surpassed Singapore and Indonesia to become the second largest in Southeast Asia behind only Thailand. Local retail investors accounted for around 87 percent of trading. Though foreigners had been mostly withdrawing from the market for nearly three years, they "have started to dip their toes into this market again" in the past few weeks. This was because only seven of the 30 biggest stocks on the main bourse, the Ho Chi Minh Stock Exchange, had reached their foreign ownership limit. Overall the VN-Index had a foreign ownership limit of 44 percent, and current foreign holdings were at less … [Read more...] about HSBC optimistic about Vietnam stock market despite plunge