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Vietnam named in Agility’s top 10 Emerging Markets Logistics Index 2021

February 28, 2021 by hanoitimes.vn

The Hanoitimes – Vietnam’s rise of three ranking positions to 8th overall is the fastest rise in the top half of the Index and displaces regional partner Thailand in the top 10.

Vietnam moved up three places to 8th in the top 10 countries of the Emerging Markets Logistics Index 2021 by Agility, one of the world’s top freight forwarding and contract logistics providers.

Cargos handling at Dinh Vu port, Hai Phong. Photo: Pham Hung

Among countries in ASEAN, Vietnam stood at third behind Indonesia (3rd overall) and Malaysia (5th), and was above the likes of Thailand (11th), the Philippines (21st) and Cambodia (41st).

According to Agility, Vietnam’s handling of the Covid-19 pandemic has been one of the most successful globally, with data from Johns Hopkins University showing less than 1,500 reports of Covid-19 cases in the country in 2020.

The combination of social and economic restrictions with a strict and comprehensive testing and tracing system, saw lockdowns last less than three months, and by June many factories were reopened and domestic operations were recovering quickly, it said.

“The steps taken by Vietnam in 2020 propel it into the top 10 ranking in 2021 – its rise of three ranking positions to 8th overall is the fastest rise in the top half of the Index and displaces regional partner Thailand in the top 10,” stated the logistics firm.

“The country’s economy has performed well as a result of the minimal domestic disruptions and is set to be one of the best performing globally in 2020,” noted the report.

The foundation provided by the strong performance in 2020 is expected to underpin a 2021 expansion of 6.5% as domestic and international conditions normalize and the Covid-19 pandemic recedes.

In recent years, Vietnam has added significant hightech manufacturing capacity, helping attract investment from producers higher up the value chain as costs in China increased.

The option to avoid additional costs associated with the US-China trade war has added further motivation for manufacturers to choose Vietnam, noted Agility.

Samsung, which alone contributes a quarter of Vietnam’s exports through smartphone manufacturing activity in the country, will shift PC manufacturing to Vietnam after it shut down a Chinese factory in 2020. Apple is also reported to have requested that Foxconn open a Vietnam production location to add production capacity for iPads and MacBooks.

When the production lines become active in the first half of 2021, it will be the first time iPad manufacture to take place outside China. Meanwhile, chip manufacturer Intel will operate its largest assembly plant in the country and South Korea’s LG electronics announced investment plans during 2020.

With Covid-19 further exposing the risks of over-reliance on China, Vietnam will be an attractive option for relocation – indeed, when asked, 19.2% of survey respondents cited Vietnam as the number one location for those seeking to diversify production locations outside of China.

However, so rapid has the investment and arrival of new businesses been that it is creating challenges of its own, including a shortage of skills and knowledge to produce the highest value goods.

Navigos Group, which owns the country’s largest jobs site, reports that 71% of employers cite a lack of IT skills as their most significant challenge.

By 2025, the country set the contribution rate target for logistics to be at 5-6% of GDP, services growth rate between 15-20%, while the rate for logistics outsourcing to be 50-60%, said the government’s decision No.200 referring to an action plan to enhance the competitiveness and development of Vietnam’s logistics sector through 2025 and ensure its ran in the Logistics Performance Index of at least 50th.

Filed Under: Trade Service Vietnam, Agility, Emerging Markets Logistics, Thailand, Covid-19 pandemic, emerging market equity index fund, emerging markets equity index, emerging markets stock index, emerging markets index mutual fund

Listed companies’ strong performance in Q1 indicates bright outlook in 2021

February 28, 2021 by hanoitimes.vn

The Hanoitimes – The daily turnover in Vietnam’s stock market has been extremely high for the last several months, said the head of independent Finish fund manager Pyn Elite Fund.

Vietnamese listed companies’ first quarter earnings reports in April will indicate strong earnings growth for many businesses in the year 2021.

Petri Derying, portfolio manager of Finland-based Pyn Elite Fund. Source: arvopaperi.fi

Petri Derying, portfolio manager of Finland-based Pyn Elite Fund, wrote in a note, discussing the prospect of Vietnam’s economy this year.

“Covid crisis is still slowing down many economies, but it is likely, that in the year 2021 we will see strong growth globally due to last year’s poor numbers,” said Derying.

According to Derying, there is already evidence of the robust growth in Vietnam’s exports in the first six weeks of the year with a turnover of US$38.57 billion, up 36% year-on-year.

“These numbers indicate very strong growth for the whole year, while the strongest growth was in exports to China,” he said.

Meanwhile, the daily turnover in Vietnam’s stock market has been extremely high for several months already, Derying added.

“The turnover and the spike we’ve seen in VN-index are thanks to the local investors,” he stated, noting in January the foreign investors were net sellers for US$74 million.

However, in February the tide turned and the foreign investors have been net buyers for US$62 million. “We expect this trend to continue,” he concluded.

In early February, Derying stated the year 2021 “looks very good for the Vietnamese stock market”, saying the economy is ready to achieve a record expansion, the listed companies’ earnings growth will surprise on the positive side, and stocks are priced attractively.

Pyn Elite Fund expected the Vn-Index to soon reach 1,800 points, thanks to the companies’ earnings growth forecasts, the strong outlook of the Vietnamese economy and the opportunities presented by the modernization of the stock market.

If the earnings grow as expected, the stock market’s P/E ratio would be in the range of 15–16 to equal index level of 1,800 points. Even thereafter, Vietnam’s economic growth will surely support even higher valuations and index levels, it added.

The Finnish fund believed that the Vietnamese stock market can surprise investors with a “big year” of returns during the 2020–24-time frame.

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Long jumper Trong aims to complete eight-metre promise

February 28, 2021 by vietnamnet.vn

If the long jumper can add a small distance to his personal best, he will become the first Vietnamese athlete to jump 8m and prove he belongs on the world stage.

Long jumper Nguyen Tien Trong sets up a new record of 7.98m at the National Athletics Championships in 2019 in HCM City. Photo courtesy of Nguyễn Tiến Trọng

“It is two centimetres.

“Just only two centimetres.

“I will make two centimetres this jump.”

Nguyễn Tiến Trọng thinks about this tiny distance every day in training.

If the long jumper can add the small distance to his personal best, he will become the first Vietnamese athlete to jump 8m and prove he belongs on the world stage.

National record holder

Born in 1997 in Cẩm Giàng District, Hải Dương Province, Trọng was taller and bigger than any of his friends at school.

He was chosen to take part in the provincial track-and-field competitions where he caught the eyes of the Military team’s scouts. He became an athlete when he was 13.

“I am the only one in the family as well as the district pursuing sport. So I think it is a fate that I am ‘engaged’ with athletics,” Trọng told Việt Nam News.

“My height was an advantage when I participated in different school events. I was offered to join basketball and martial arts clubs but athletics is my true love.

“I was only six when I watched the Việt Nam 22nd SEA Games on TV. I had no idea what ‘glory’ meant at that time but was strongly impressed with the way the track-and-field winners were honoured. They received big claps and huge encouragement after winning. It obsessed me. It was the reason why I agreed to join the Military team when invited immediately,” he recalled.

“Coaches had to persuade my parents a lot to let me go, saying that I had potential if I was trained professionally. They seemed okay with some doubts but now they have become my biggest supporters,” he said.

After nearly nine years of training, Trọng has proved his talent.

The man, who was born in the Year of the Buffalo, dominated national underage tournaments and set a record of 7.71m in the long jump before conquering the senior championships since 2016.

He has collected titles from international competitions including open events in Thailand and HCM City in 2019.

Among medals, his most memorable one is the gold at the fifth Asian Indoor and Martial Arts Games in 2017 in Ashgabat, Turkmenistan.

“Athletes from 44 countries came for titles. As a freshman in international events, I thought I would have no chance for the top three because it was Asia and all the jumpers were strong.

“Competing with no pressure, my leaps after three attempts were better than everyone including title favourites Chan Ming Tai (Hong Kong) and Amila Wijayalath Pedige (Sri Lanka). After the last jump, I was named the winner. It was a great feeling that I still shake when I think about,” he said.

At the 2019 national championship, Trọng confirmed his reign of the national men’s long jump pit with a leap of 7.98m, a new Vietnamese record.

“He is on the cusp of the eight-metre club that not too many athletes can do in the world. His jump is history, challenging the next generation,” said Dương Đức Thủy, head of the Athletics Department of the National Sports Administration.

Thủy was happy with Trọng’s result but reminded him: “You still owe me 2cm. Do what you have to do”.

“It is a little pressure for me,” said Trọng who promised to jump 8m to Thủy during an event in 2018. “It is not an easy tiny gap but I feel I can do better. I consider it a target to reach.”

SEA Games in sight

Long jumper Nguyễn Tiến Trọng competes to defend his title at theNational Athletics Championships in 2020in Hà Nội. Photo toquoc.vn

Trọng was expected to complete his target at the 2020 championship in Hà Nội last November.

However, he could only defend his crown with a humble jump of 7.58m.

“I also believed that I could do it. But a leg injury occurred just 10 days ahead of the tournament that prevented me from jumping my best,” he said.

“I have to try harder this year,” said Trọng referring to local tournaments as well as the 31st SEA Games in winter in Hà Nội.

It will be the third Games of the young lieutenant who has recorded poor results in previous tournaments despite being seeded.

At the 2017 event, he finished fifth and two years later he also could not join the top three despite just setting a national record.

“I was inexperienced at the first Games while I was not at my peak in the second one after competing in an international tournament for soldiers,” he explained.

Trọng is one of the athletes tipped to win gold for Việt Nam at the coming Games on home turf as his current results are similar to the top three of the Manila event two years ago.

“My coaches and I are working hard to improve and sustain my ability at a high level. The eight-metre distance is the first step and then I have to do better so that I could set my sights on continental events,” he said.

“I do not set a specific target which will make me tired and nervous but I do not want the gold medal to leave Việt Nam this year,” he said.

“I am trying hard every day to be the second Vietnamese male long jump gold medalist in history.”

Việt Nam have won only one SEA Games gold medal in men’s long jump to date. The first went to Bùi Văn Đông who triumphed in 2017. VNS

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Sixteen new COVID-19 cases confirmed on Sunday

February 28, 2021 by vietnamnews.vn

People in Hải Dương Province wait for COVID-19 tests as part of the province’s large-scale testing campaign. —VNA/VNS Photo

HÀ NỘI — Sixteen new COVID-19 cases were confirmed in Viet Nam on Sunday evening, including 12 locally-transmitted patients in Hải Dương Province, bringing the total caseload to 2,448.

All the new locally-transmitted cases were found in quarantine facilities or isolated areas in Hải Dương, according to the National Steering Committee for COVID-19 Prevention and Control.

The four imported patients include three who entered the country via Mộc Bài border gate in southern Tây Ninh Province on February 14 and another who arrived via Thường Phước border gate in the Mekong Delta province of Hậu Giang on February 26.

A total of 32 COVID-19 patients were announced on Sunday to have fully recovered. — VNS

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Steel maker Hoa Phat to manufacture cargo containers

February 26, 2021 by en.vietnamplus.vn

Steel maker Hoa Phat to manufacture cargo containers hinh anh 1 Illustrative image (Source: tinnhanhchungkhoan.vn)

Hanoi (VNA) – Steel maker Hoa Phat Group is recruiting experienced personnel for a cargo container manufacturing project expected to start production in the second quarter of next year, according to the company.

The new shipping container plant will have a designed capacity of 500,000 twenty-foot equivalent unit (TEU) per year.

Global demand for cargo containers is on the rise as a result of growing e-commerce and foreign trade, said Nguyen Manh Tuan , Vice Chairman of the Hoa Phat Group.

“We have been conducting research in various fields and are confident we have the ‘firepower’ to make the container manufacturing project successful and competitive with manufacturers from China, the world’s leading container producer,” he said.

The group’s recruiters are working against the clock to enable the construction of the plant to begin as soon as possible.

According to Hoa Phat, shipping containers are made from weather-resistant and expensive SPA-H steel. Steel currently accounts for about 55 percent of the production cost.

In Vietnam, only the Hoa Phat Dung Quat Complex has the technology to produce this type of steel at a reasonable cost, Tuan said.

Hoa Phat has estimated it will need to produce 1 million tonnes of Hot-Rolled Coil (HRC) steel to reach an annual capacity of half a million TEUs. The group manufactured nearly 700,000 tonnes of HRC and more than 5 million tonnes of billet and construction steel last year.

Its Dung Quat 2 project is scheduled to be operational in early 2022. Set to manufacture HRC steel using the latest advanced technology, it has a designed capacity of 5 million tonnes per year.

Though the shipping container market is growing 5 percent annually, there has been a shortage of supply. In previous years, China had produced 90 percent of the world’s containers. The country, however, has cut output by 40 percent over the last two years, despite growing domestic demand./.

VNA

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CPI for October records slight increase

October 29, 2020 by vov.vn

This increase can be attributed to a hike occurring in the price of education services, coupled with the impact of natural disasters which have recently struck the country’s central provinces.

These statistics indicate that October’s CPI recorded an annual increase of 2.47%, while the average CPI during the opening ten months of the year rose by 3.71% compared to the same period last year.

Among 11 different categories of goods and services, six witnessed rising prices, including education which rose by 1.35%, housing and construction materials with a rise of 0.29%, beverages and tobacco up by 0.08%, garment and textiles up 0.06%, medicine and medical services up 0.01%. In addition, maintenance and home repair services saw increase of 0.15% and 0.2%, respectively.

Furthermore, other commodity and services groups also witnessed a decrease in their price indexes, including culture, entertainment, and tourism which fell by 0.18%, food and catering services which dropped by 0.13%, transportation down 0.08%, and the post and telecommunications group which declined by 0.03%. Elsewhere, the prices of home appliances and equipment remained unchanged.

Domestic gold prices also saw fluctuations in line with the global prices of the gold price index in October, with a decrease of 1.1% compared to September and an increased of 30.91% from December, 2019, up 29.63% from the same period last year.

According to the GSO’s report, the inflation rate in October increased by 0.07% compared to September and 1.88% from the same period last year, with ten-month inflation rising by 2.52% on-year.

Filed Under: Uncategorized CPI, GSO, goods and services, education, housing and construction materials, inflation rate, Economy, housing and..., wettest october on record sydney, cpi increases

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