Socialist oriented market economy

In the first half of this year, Tra Vinh province has issued registration certificates to 250 businesses. Among which, there are 165 one-member limited liability companies; 45 multi-member limited liability companies; 20 private enterprises; 20 joint stock companies; and 151 affiliated units. The overall amount of registered capital hit around $169 million, and the total number of registered personnel reached nearly 3,800 individuals. There are just under 3,000 active businesses with a total capitalisation of $2.1 billion and nearly 90,800 workers. Some 44 of those businesses are foreign-invested firms. In addition, almost 500 firms and affiliated units were registered for expanded business lines, capital, and other adjustments, increasing the total extra capital to $143 million. The 48MW South Korea-Tra Vinh offshore wind power plant became operational in September 2021 According to Tra Vinh Department of Planning and Investment, compared to the same period in 2021, … [Read more...] about Tra Vinh nurtures private sector to kickstart economy

Viet Nam has the cheapest valuations and second highest EPS growth in Southeast Asia, as this table shows. — Source VinaCapital “Viet Nam’s economy is even stronger than we had expected at the beginning of the year, but that strength is not reflected by higher stock prices due to the [US’s] aggressive rate hikes and the recent regulatory crackdown in Viet Nam,” Michael Kokalari, chief economist at VinaCapital, has said in a report. “That said, we expect over 20 per cent [company earnings] growth in 2022, which should support a recovery in the VN-Index by the end of 2022.” July economic statistics have not only reinforced VinaCapital’s forecast of 7.5 per cent GDP growth in 2022 but also make it look like the economy would grow by a stunning 10 per cent year-on-year in the current quarter, he said. “Our expectation that Viet Nam’s economy will grow by at least 7.5 per cent this year (and by at least 10 per cent in Q3) leads us to believe that the consensus forecast for 16 per … [Read more...] about Stock market to benefit from unexpectedly strong domestic growth: VinaCapital

Many stocks fell sharply in the first half of the year Sharpest decline In the first half of 2022, both market benchmark index and liquidity plunged sharply, with the VN-Index posting a dip of 20.5 percent. Specifically, since hitting the historical peak at 1,528.6 points on January 6, the Vietnamese stock market has witnessed a significant decline, falling below the 1,200-point threshold. However, the average trading value in the first half of the year was still higher than that in the same period last year. Vietnam’s stock market capitalization tumbled by more than VND1,220 trillion during the reviewed period, equivalent to US$52 billion. Experts attributed the decline to the general impact of the global economy and stock markets. These include the US Federal Reverse rate hikes and the Russia-Ukraine war that raise concerns about an economic slowdown due to high inflation and supply chain disruptions. Investors’ increased pessimism and caution also affected the … [Read more...] about Vietnam’s stock market expected to recover

As Vietnam steps into the post-pandemic era, experiences and learnings from the pandemic serve as a reminder of the importance of digital transformation and its crucial technology component. Eunjung Han, consultant at Rouse Legal Vietnam and vice chair of the Digital Sector Committee of the European Chamber of Commerce in Vietnam Despite COVID-19’s negative economic and social impact, Vietnam remains an attractive destination to European investors. According to the European Chamber of Commerce (EuroCham) 2021 White Book, Vietnam’s stable macro-economic climate, with inflation in the single digits, continues to increase investor confidence in the country’s trade and investment environment. Only adding to that, the EU-Vietnam Free Trade Agreement (EVFTA) is paving the way for continued foreign direct investment (FDI) from the EU and is viewed as a means for shared recovery and economic rebound. As the first comprehensive FTA between the EU and a developing country in … [Read more...] about EVFTA underpinning growth in Vietnamese tech market

The spice products are available at commercial centres, supermarkets, convenience stores, e-commerce platforms – Shopee , Lazada and Tiki, to name but a few, and Facebook pages and websites of businesses. (Source: tuoitre.vn) Hanoi (VNA) – With a population of nearly 100 million and strength in cultivating spice plants, Vietnam has substantial potential for spice production, consumption and export. According to Nielsen Market Research Company , the Vietnamese seasoning and sauce market expands by an average of 25-32% during the 2016-2022 period. Vietnamese households pose a high demand for seasoning for their meals – and it does take a lot of seasoning to make 30 million litres of soup a day, all the while the amount of fried and stir-fried dishes increases by 18 million plates and 14 million braised dishes during the weekends. The domestic spice market has lured international groups with products like Knorr (Unilever, the UK), Aji-ngon (Ajinomoto, Japan), Miwon … [Read more...] about Businesses spice up Vietnamese market

Vietnam’s real retail sales, excluding the impact of inflation, grew by 7.9 percent year-on-year in the first six months of 2022. (Photo: VNA) Earnings growth are expected to exceed 20 percent this year, Kokalari said in a report entitled “The divergence between Vietnam’s strong economy & weak stock market,” which outlines expectation for Vietnam’s economy in the last five months of 2022. It is attributed to the country’s solid economic performance, he added. Vietnam’s real retail sales, excluding the impact of inflation, grew by 7.9 percent year-on-year in the first six months of 2022. This figure surged to 11.9 percent in the seven months, which is far above the 7 percent year-on-year growth that VinaCapital had previously been forecasting for 2022. “This is important because we are often asked now whether the ongoing slowdown in the US economy - which is Vietnam’s biggest export market - will weigh on Vietnam’s economic growth,” Kokalari said. A slowing US economy is … [Read more...] about Vietnamese economy is likely to grow 10 percent in Q3: VinaCapital