Spacex 2nd stage recovery

Illustrative photo. (Source: VNA) Hanoi – The S&P Global Ratings on May 26 raised its long-term sovereign credit rating on Vietnam to “BB ” with a “stable” outlook on the back of strong economic recovery, according to the Ministry of Finance. It is a very positive move when S&P Global Ratings upgraded Vietnam’s sovereign credit rating amidst numerous global uncertainties and challenges, the ministry said in a statement, adding that it reflects an international recognition of Vietnam’s efforts to stabilise and recover the macro-economy and reinforce the socio-political foundation. Vietnam is one of the only two Asia-Pacific nations that have had its ratings upgraded since the beginning of this year, factoring in that Vietnam’s economy remains on a solid track to recovery following the complete removal of domestic and cross-border mobility restrictions, outstanding improvement in COVID-19 vaccination rates and a flexible shift in virus control strategy. It is also … [Read more...] about G&P Global Ratings raises Vietnam’s sovereign credit rating

A health worker is processing COVID-19 test sample. VNA/VNS Photo HÀ NỘI — Việt Nam registered 1,239 new COVID-19 infections, all domestically transmitted, and no deaths on Friday. The Ministry of Health also announced that 9,365 COVID-19 patients were given the all-clear, bringing the number of recoveries to 9,431,450. Hà Nội still had the most daily infections with 297. This is the first time in six months the capital city has recorded less than 300 new cases in one day. The other localities reporting new transmissions were Vĩnh Phúc (86), Phú Thọ (63), Hải Dương (59), Nghệ An (56), Yên Bái (55), Quảng Ninh (51), Tuyên Quang (43), Nam Định (37), Đà Nẵng (35), Lào Cai (32), Thái Bình (30), Hồ Chí Minh City (30), Thái Nguyên (30), Sơn La (29), Điện Biên (26), Bắc Kạn (25), Lâm Đồng (23), Hà Nam (21), Hà Giang (19), Hà Tĩnh (18), Quảng Bình (18), Hải Phòng (17), Hòa Bình (15), Bình Phước (12), Hưng Yên (12), Ninh Bình (11), Thanh Hóa (11), Bắc Giang (11), Quảng Trị (10), … [Read more...] about Việt Nam logs 1,239 new COVID-19 cases, no deaths on Friday

An additional 1,239 new Covid-19 infections were confirmed on Friday, raising the national tally to over 10.71 million, according to the Ministry of Health. Illustrative photo According to the ministry's report, most of the new patients are locally-transmitted cases confirmed in 33 out of 63 localities in the country with some localities seeing the highest numbers including Hanoi (297), Vinh Phuc (86), Phu Tho (63), Hai Duong (59), and Nghe An (56). As of Friday evening, the number of Covid-19 patients in Vietnam has increased to over 10.71 million. The country now stands 12th among 227 countries and territories worldwide in the number of infections. On May 27, an additional 9,365 more patients recovered from the disease, raising the number of recoveries in the country to over 9.43 million. On Friday evening, no deaths related to Covid-19 were announced. The total fatalities stood at 43,078. By May 26, the country had injected more … [Read more...] about Additional 1,239 Covid-19 infections confirmed on Friday, no death

Illustrative image (Source: VNA) Hanoi (VNA) – Total credit supply in 2022 reached over 11 quadrillion VND (474.3 billion USD) as of May 20, up 7.66 percent compared to that at the end of 2021 and doubling the figure recorded in the same time last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu. At a virtual conference of the banking sector on May 27, Tu said that right from the beginning of this year, the SBV has guided credit flow towards the production and business sectors as well as prioritised areas, while tightly controlling credit in risky areas. Particularly, a growth of over 8 percent was seen in credit for sectors facing difficulties such as tourism and hotel, while a 7.6 percent increase was recorded in industrial sectors and supporting industries. The SBV Deputy Governor said that as of the end of April, over 695 trillion VND of loans had been given to more than 1.1 million customers. Thanks to the strong credit … [Read more...] about Credit supply sees two-fold rise

A PNJ store in HCM City. The company's shares soared by 7 per cent yesterday. — Photo courtesy of PNJ Shares advanced for a fourth day this week on the Ho Chi Minh Stock Exchange, driven by the strong growth of blue chips. On the Ho Chi Minh Stock Exchange, the VN-Index gained 1.33 per cent to close Friday at 1,285.45 points. The southern bourse’s index has expanded 5.4 per cent this week. Information relating to the restructuring of the exchange-traded funds (ETFs) boosted trading in large caps. Twenty-nine out of the top 30 largest shares by market value and liquidity (VN30) gained value while only Sacombank (STB) fell 0.7 per cent. On Friday, the stocks in which the foreign ownership nearly touch the ceiling limit attracted investment. Phu Nhuan Jewelry JSC (PNJ) and Refrigeration Electrical Engineering Corp (REE) hit the ceiling growth of 7 per cent to VND122,300 (US$5.32) for a PNJ share and VND89,600 for a REE share. Among blue chips, big gainers included tech … [Read more...] about VN-Index rallies for a forth day on strong growth of blue chips

Bilateral trade recovery According to the Ministry of Industry and Trade, after two years of COVID-19, trade between Vietnam and the UK recovered in 2021, reaching nearly US$6.6 billion. This included more than US$5.7 billion worth of Vietnam’s exports to the UK, an increase of 16.4 percent compared with 2020. Vietnamese goods at a UK supermarket Products with high export growth included fruit and vegetables (up 67 percent); coffee (up 17 percent); pepper (up 49 percent); carpets and products made of bamboo, rattan and sedge (up 56 percent); iron and steel materials (up 1,269 percent); steel products (up 100 percent) and toys and sports equipment (up 19 percent). The value of Vietnam’s imports from the UK reached nearly US$850 million, an increase of 23.6 percent compared with 2020. In the first four months of 2022, Vietnam’s exports to the UK reached an estimated US$4.8 billion with key products including seafood, coffee, pepper, cashew nuts, plastic products, … [Read more...] about Vietnam-UK agreement creates leverage for bilateral trade