Nguyen Duy Hung, chairman of SSI Securities, a leading Saigon broker, said that with a drop of over 20 percent from its peak, when the VN-Index climbed to 1,204 points on April 9, 2018, Vietnam’s stock exchanges have entered a bear market. The benchmark VN-Index on the Ho Chi Minh Stock Exchange lost 1.52 per cent to end Thursday at 878.22 points. On Friday afternoon, it rose to 880.9 points. Perhaps it will take between 8 to 11 months for the market to recover, Hung said. "Historical data suggests that it would take 21 months for a bear market to recover its old peak after hitting bottom." But the SSI chairman said the main challenges facing the stock market in 2019 include worries posed by the escalation of the U.S.-China trade war, and increasing geopolitical risks. "At this point, no one can say how this war will unfold or predict how widespread the impact will be. Along with the decline in oil prices signaling difficulties of the world economy, the rise in geopolitical … [Read more...] about Experts express cautious optimism for Vietnam stock market
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2018: Yet another bouncing back milestone for Vietnam
Ten years after the disastrous 2008 global financial crisis that seriously affected exports and foreign investment, 2018 has been yet another milestone on the way of bouncing back bolder and better of Vietnam's economy. Latest data from the General Statistics Office (GSO) and the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment paints a bright economic picture of the Vietnamese economy throughout the year. The country posted the fastest pace of economic growth since 2007 by expanding 7.08 percent in 2018, well above the 6.5-6.7 percent target set by the National Assembly, Vietnam’s parliament. With exports this year hitting $244.72, up 13.8 percent against 2017, and imports staying at $237.51 billion, Vietnam posted its highest trade surplus ever in history, at $7.21 billion. Though registered foreign direct invesment (FDI), including fresh, additional and contributed capital, dropped slightly over last year at $35.5 billion, FDI disbursement … [Read more...] about 2018: Yet another bouncing back milestone for Vietnam
BUSINESS NEWS IN BRIEF 24/10
Festival to help Ninh Binh promote tourism potential The picturesque Trang An Complex in Ninh Binh province (Photo: vietnamtourism.gov.vn) The northern province of Ninh Binh will have opportunities to promote its tourism potential as a cultural, sport and tourism festival will be held in the locality later this month. Held by the Ministry of Culture, Sports and Tourism, the event is part of the programmes organised to mark 1,050th anniversary of Dai Co Viet, the first feudal state of Vietnam. A wide range of cultural activities are scheduled such as photo exhibitions, amateur cheo (traditional opera) performances, and various culture and sport activities. Local Trang An Landscape Complex, recognised by the UNESCO as a World Heritage site in 2014, together with other renowned heritages like Ha Long Bay, Phong Nha Ke Bang National Park, and gong cultural space in the Central Highlands, among others, will be nudged closer to the visitors at the festival through the “Going through … [Read more...] about BUSINESS NEWS IN BRIEF 24/10
European companies more positive about the business environment in Việt Nam
Viet Nam News HÀ NỘI — New data from the Business Climate Index (BCI) of the European Chamber of Commerce in Việt Nam (EuroCham) shows European companies are more optimistic about doing business in Việt Nam. This growing confidence in Việt Nam’s trade and investment environment can be seen in a six point jump from the first quarter to second of the year. The latest BCI results show the sentiment of European business is at its strongest for 18 months, and just two points below the all-time high of the third quarter of 2016. EuroCham members also reported an optimistic outlook on various issues, from their own investment and profit projections to workforce levels and Việt Nam’s macroeconomic outlook. More than 70 per cent reported a positive situation for their enterprise in the last quarter, with 62 per cent describing it as ‘good’ and 12 per cent as ‘excellent’. Looking ahead to the next quarter, 64 per … [Read more...] about European companies more positive about the business environment in Việt Nam
Social News 1/9
Sweden holds innovation contest for Vietnam students ASEAN-UK workshop on ageing populations held in Hanoi The ASEAN-UK workshop on “Cost-effective solutions and assistive technologies for low-income ageing populations” was jointly organized by the University of Greenwich, Le Quy Don Technical University, and the Asian Technology Institute in Hanoi last week. The workshop gathered about 60 attendees including lecturers and researchers with many institutions from the UK, Italy, Canada, Thailand, Malaysia, Indonesia, India and Sri Lanka, and representatives of the British Council in Vietnam and the National Technology Innovation Foundation. The workshop took place in the context of population ageing becoming one of the most important issues and topics on the global agenda due to its great impact on quality of life and sustainable economic development of countries and regions. The United Nations predicts the rate of population ageing in the 21st century will exceed that of … [Read more...] about Social News 1/9