Speed limit 69 just kidding 35

Thailand orders additional 35 million doses of AstraZeneca vaccine

March 3, 2021 by en.vietnamplus.vn

Illustrative image (Photo: https://asia.nikkei.com/ )

Bangkok (VNA) – The Thai cabinet on March 2 approved a budget worth 6.3 billion baht (210 million USD) for purchasing an additional 35 million doses of AstraZeneca COVID-19 vaccine produced by the UK, bringing its total vaccine ordered to 63 million doses.

According to a spokesperson of the Thai government, the new batch of vaccine will arrive in Thailand simultaneously with 26 million doses of AstraZeneca vaccine and 2 million doses of Sinovac vaccine of China ordered previously.

Thailand’s Ministry of Health is still negotiating to buy more vaccines from other manufacturers as the government prepares to open registration for vaccinations for people.

The country officially started its COVID-19 vaccination programme on February 28.

Thailand reported 42 new COVID-19 cases and one more death on March 2, lifting the total of infections and fatalities to 26,073 and 84, respectively.

Thai Minister of Tourism Pipat Ratchakitprakarn has asked the Ministry of Health to approve the implementation of a vaccine passport system to kick-start the country’s tourism industry this year.

Pipat said on March 1 that the Thai government is waiting for the World Health Organization (WHO) to announce the vaccine passport before enacting this measure.

On March 2, Malaysia granted conditional approval for the use of COVID-19 vaccines made by UK firm AstraZeneca and China’s Sinovac, just days after the Southeast Asian nation launched its nationwide COVID-19 vaccination programme.

Malaysia began its COVID-19 vaccination rollout on February 24 using the vaccine developed by US drug-maker Pfizer and German partner BioNTech, as it has tried to rein in a spike in infections and help revive its economy that recorded its worst slump in more than two decades last year.

Malaysia aims to vaccinate at least 80 percent of its population of about 32 million by February next year. Last month, the government said it had secured 66.7 million doses, enough to cover its population./.

VNA

Market edges higher, fertiliser stocks surge

March 3, 2021 by bizhub.vn

Workers unload products at one of Lam Thao Fertilizers And Chemicals’ warehouses. The company shares increased by 10 per cent on Wednesday. — Photo supelamthao.vn

Viet Nam’s stock market ended higher on Wednesday as the VN-Index bounced back in the afternoon session.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) reversed course to edge higher in Wednesday’s trade after dropping 0.38 per cent in the morning session. The index rose slightly 0.03 per cent to 1,186.95 points.

The market breadth turned positive at the end of the session with 270 stock rising, while 168 stocks decreased. And 64 stocks stayed unchanged.

While a total of over 628.77 million shared were traded today on the southern market, worth VND15.15 trillion, an overload occurred again on HoSE in the afternoon session.

In a daily report, Bao Viet Securities Co. said that the index might face corrections earlier in the sessions before recovering at the end of the session. And the market needs more time to accumulate to break over 1,200 points level in the near future.

The market received support from the containment of COVID-19 outbreaks and the upward trends of global markets, the company added.

However, strong selling pressure still weighed on the market, with many big stocks falling.

The VN30-Index, tracking the 30 biggest stocks on HoSE, gained 0.07 per cent to finish at 1,195.6 points. The index lost 0.37 per cent in the morning session. Eleven of the 30 large-cap stocks in the VN30 basket rose, while 15 stocks dropped.

Stocks from real estate and banking sectors still influenced the market’s trend.

Top five stocks contributing to the gain of the market were Investment And Industrial Development Corporation (BCM) up 5.35 per cent, Vietinbank (CTG) up 1.58 per cent, VPBank (VPB) up 2.09 per cent, No Va Land Investment Group Corporation (NVL) up 2.65 per cent and Vincom Retail JSC (VRE) up 2.31 per cent.

Fertiliser stocks also recorded big gains today with DAP – VINACHEM JSC (DDV) up 14.75 per cent, Lam Thao Fertilizers And Chemicals JSC (LAS) up 10 per cent, Petro Viet Nam Ca Mau Fertilizer JSC (DCM) up 6.69 per cent and Duc Giang Chemicals Group JSC (DGC) up 6.98 per cent.

Meanwhile, Vingroup JSC (VIC), Vinhomes JSC (VHM) and Vietcombank (VCB) extended their losses and limited the index’s gain.

On the Ha Noi Stock Exchange (HNX), the HNX-Index posted an increase of 2.48 per cent to end the trading day at 254.1 points. The HNX30-Index recovered from earlier losses, up 0.56 per cent to 375.61 points.

Domestic investors poured nearly VND2 trillion into the northern bourse on Wednesday, equivalent to over 131.1 million shares.

In general, the market’s liquidity was high with a total 821.9 million shared traded, including trading volume on UPCOM, worth nearly VND18.2 trillion.

Meanwhile, foreign investors were still net sellers on HoSE and HNX, with a net value of VND471.95 billion on the southern bourse and a net sell value of VND7.6 billion on the northern market. — VNS

Vietnam’s 5G race begins to heat up as major carriers launch commercial services

January 8, 2021 by en.nhandan.org.vn

More importantly, unlike previous technologies most of which had to be imported, Vietnam has gradually mastered and is now capable of producing 5G equipment, a strategically important step in Vietnam’s development of information and communications technology.

Off to a good start

Viettel was the pioneer in announcing commercial 5G trials in late November with coverage in the Hoan Kiem, Ba Dinh and Hai Ba Trung Districts of Hanoi, where owners of 5G-enabled devices can now use the service for free at a speed of up to 1.5 gigabits per second, far higher than 4G.

Later in mid-December, Vinaphone also announced its 5G coverage in some central districts in Hanoi and Ho Chi Minh City as well as two demonstration centres so that those without 5G devices can experience the new technological features.

Mobifone also quickly caught up by piloting commercial 5G services in Ho Chi Minh City.

According to some experts, mobile carriers’ rush to roll out 5G services at this time is merely competition between brands and does not precisely reflect what the domestic telecommunications market will look like in the future.

With 3G and 4G technologies, Vietnam was a latecomer, but with 5G, Vietnam is one of the frontrunners. Although the trials are just an initial step in the long process to widespread rollout, the carriers’ efforts have demonstrated the local communications sector’s capacity and readiness to provide the new technologies to the people.

With exceptionally fast speeds, extremely low latency and very high density (up to one million devices in one square kilometre), 5G is expected to revolutionise how society functions in the future, especially in the fields of advanced technology, healthcare, transport and education, laying the foundation for Vietnam to master and apply new technologies as well as succeed in its national digital transformation drive.

Taking on challenges to rise up

Vietnam is pioneering 5G, an opportunity to master new technologies and catch up with the development pace of the world. But its position as a trailblazer means Vietnam cannot learn from anyone else’s experience and will have to find its own path to development. 5G will bring with it tremendous opportunities in the future but there are already also quite a few challenges at present.

First of all, carriers face a risk that 5G-enabled devices have not yet been widely popular with consumers at the time of mass rollout and that 5G business models are as of yet not proven to be effective.

In addition, demand for this technology is not yet very high, making carriers find it hard to balance costs and benefits. However, experts state that if Vietnam wants to develop, it needs to see a radical change of mindset and it must dare to meet the challenges head on, otherwise Vietnam will always be a technologically backward country.

The history of Vietnam’s communications sector has shown that successes have followed the appropriate decisions to embrace new technologies. In the early years of the Doi Moi reform when 95% of the world was still using analogue communications, Vietnam took the bold step and adopted digital communications immediately, resulting in the country achieving remarkable progress in this sector.

Then in 1997, Vietnam once again showed its progressive mindset by agreeing to open the door to the internet, opening a new living space and digital space for each of its citizens, connecting Vietnam with the world and laying a significant foundation for Vietnam to enter into important agreements such as the bilateral trade agreement with the United States and accession to the World Trade Organisation, helping deepen the country’s international economic integration and speed up national development.

The launch of 2G technology in 1993, followed by 2.5G, 2.75G and then 3G and 4G, has brought mobile phones, a luxurious item during the 1990s, to 100% of the population at the lowest possible cost. But it should be acknowledged that when transitioning to 3G and 4G, Vietnam fell behind the rest due to a failure to update policies and the management mindset, a lag in technology and lack of new competitive factors.

The fourth industrial revolution is taking place at a rapid pace around the world and 5G is one of the key technologies in this revolution thanks to its high speeds and low latency, essential to many sectors. Therefore all countries should take advantage of this opportunity and Vietnam is also taking proactive steps to get on-board the 5G train.

Vietnam has certain advantages as it can produce many types of equipment and infrastructure necessary for 5G. The Ministry of Information and Communications has affirmed that mastering 5G equipment is strategically significant nationally and Vietnam is one of the few countries capable of doing so. From now on Vietnam will actively act as a pioneer alongside the rest of the world with regards to technology, helping further stimulate the communications sector, making an even greater contribution to the country’s socio-economic development.

Vietnam shares suffer deepest fall in 19 years on epidemic fears

March 9, 2020 by hanoitimes.vn

The Hanoitimes – The decline was stronger than a 5.89% tumble in May 2014 when China started a territorial spat with Vietnam.

Vietnamese shares on Monday plummeted the most since 2001 as traders strived to exit the markets on panic over the Covid-19 epidemic and a global crude price war.

Source: Bloomberg

The loss was stronger than a 5.89% tumble in May 2014 when China sent a gigantic oil rig within Vietnam’s exclusive economic zone, initiating a territorial spat between the two countries.

On the HoSE, as many as 368 tickers closed in negative territory, 14 stood still and only 34 others managed to go north. The VN30 Index, formed by the 30 largest and most liquid stocks, dropped 6.35% to 782.85, with all the constituents ending in red and 23 hitting the lower limits.

Main stock indexes at the close on March 9. Source: SSI

Investor sentiment, already fragile, became sourer after the announcement of the first cases of coronavirus infection in Hanoi and other localities, according to VNDirect Securities.

Vietnam stock market watchdog to provide support for businesses

March 11, 2020 by hanoitimes.vn

The Hanoitimes – The head of Vietnam’s stock market watchdog urged players to trust the internal strengths of the economy and the resilience of Vietnam’s stock market.

The State Securities Commission of Vietnam (SSC), the country’s stock market watchdog, is considering a number of solutions to help investors and securities firms overcome negative impacts of the Covid-19 epidemic and global turmoil, according to the SSC’s Chairman Tran Van Dung.

Chairman of the SSC Tran Van Dung.

Among them are lowering fees for some brokerage services and easing regulations on margin trading, Dung told Vietnam Financial Times.

At the close on March 9, the benchmark Vn-Index plunged 6.28% to 835.49, the biggest tumble since May 2014 when the standoff between Vietnam and China occurred after China moved an oil rig into Vietnam’s waters.

Dung, however, noted the liquidity of the Hochiminh and Hanoi stock exchanges remained abudant with nearly VND6.5 trillion (US$278.69 million) traded, indicating investors were buying in battered stocks.

Besides, foreign investors remained net sellers but at a moderate amount of VND230 billion (US$9.85 million) on March 9, Dung added.

Dung said the freefall of the stock market was a common situation globally, especially as “all bad news came at one time” that directly impact investor sentiment, including the sharpest decline of oil price since 1991, prompting Goldman Sachs to predict Brent oil could drop to US$20 per barrel this year.

On early March 9, the Japanese government issued lower-than-expected economic data for 2019, heightening fears the global economy may come to a recession under the growing impacts of the Covid-19 epidemic.

The Federal Reserves (FED) on March 3 cut interest rates by 0.5% in an emergency move, prompting 65% of traders to expect the FED to continue lowering interest rates by 0.75% in the upcoming meeting on March 17. If it happens, the cut in the federal funds rate would take the borrowing cost in the short-term markets down to a range of 0.25% – 0.5% and raise concern over the US and global economies going to slow down.

For the Vietnamese stock market, new cases of Covid-19 infections were the main reason for shares going downhill, Dung said. However, Vietnam’s successful containment of the epidemic is just a matter of time, given strong determination of the government and the public.

Moreover, in the mid- and long-term, credit and fiscal support packages from the government will no doubt help enterprises recover, Dung added.

Dung urged enterprises, intermediary financial institutions and investors to trust the internal strengths of the economy and the resilience of Vietnam’s stock market.

Such confidence would help the market to rebound sooner and avoid unnecessary sell-offs, Dung stated.

In the coming time, the SSC would continue to closely monitor the market and only intervene out of necessity, Dung added, stating the authority would strictly punish cases of market manipulation or providing false information for unfair gains.

Facebook, Youtube eat up ads revenues in Vietnam, leaving local digital press in trouble

June 23, 2019 by hanoitimes.vn

The Hanoitimes – Vietnam should follow the EU’s steps in applying law to better revenue sharing between social media platforms and all content creators including newspapers and magazines.

Total digital advertising turnover in Vietnam would rise to US$630 million by the end of this year, and that of Facebook and Google would go up parallel, reaching a combined US$450 million, according to estimates by ANTS, an integrated programmatic advertising platform, and other sources.

llustrative photo

The two tech giants have increasingly gained revenue in Vietnam, sending the local press industry struggling. To make the picture clearer, the online advertising revenue in 2010 in Vietnam was only around US$10 million, of which Google’s and Facebook’s just made up a small amount.
Now the combined revenue of those two largest cross-border platforms in 2018 astonishingly surged to US$387 million, swallowing the biggest portion of online advertising of US$550 million.
In the meantime, the rate of press agencies earning revenue from online advertising plummeted to 31% in 2018 and will continue to fall to 29% in 2019 compared to 81% in 2010.
Also according to a 2018 report of the Central Commission for Communication and Education of the Communist Party of Vietnam, the revenue from online and printed press in Vietnam was VND4.9 trillion (US$210 million) in 2018 and that of television was VND10 trillion (US$429 million).
The figures pose the question about ads business of Facebook and Google as those platforms earned millions of dollars by sharing and citing contents, news articles of local content creators and press agencies but aversely shared the revenue with them, who eventually are accountable to the contents, VietNamNet reported.
Unfortunately, the Vietnamese government is still struggling to tax those revenues of Facebook and Google.
At the beginning of this year, policy expert Nguyen Quang Dong from the Institute for Policy Studies and Communication Development IPS raised his view that Vietnam should follow the EU’s steps in applying law to better revenue sharing between social media platforms and all content creators including newspapers and magazines.
The law is considered a move to guarantee the rights of press agencies which play significant role in providing contents for the social media platforms.
The dominace of social media platforms
The US-based Pew Research Institute’s reports showed that 80% of Vietnamese considered social media positive while just a mere 6% thought it is negative. As a result, despite some undeniable negative social consequences it has caused, social media is still regarded as an essential source of information.
Under the Facebook’s algorithm, users mostly see in their news feed stories which are relevant to them as it ranks the contents based on users’ reactions on previous posts. This could lead to the display of a part of the truth, not the whole of it, which negatively affect people and businesses. However, media experts said, this algorithm may become strength of mainstream press.
These press agencies are unable to compete with the social platforms in terms of speed but it is the accuracy and the honesty of the delivered information that guarantee its value and existence, according to Chairman and CEO of Le Group of Companies Le Quoc Vinh.
By 2021, it is forecast that over 3 billion people in the world would be subscribers of social media platforms while Vietnam would see 57.43% of its population using Facebook, 12.81% watching YouTube and the numbers continue to rise.