Vn index

A Masan pork-processing factory in Ha Nam Province. MSN was one of the stocks behind the downward trend on Thursday. — Photo baodautu.vn Stocks sank during Thursday's market meltdown amid strong selling forces. On the Ho Chi Minh Stock Exchange (HOSE), the VN-Index fell steadily to 1,074.52 points, down 29.74 points (2.69 per cent) against the previous session. The market was overrun by decliners as their headcount reached 315, against 53 advancers. Remarkably, 59 stocks hit floor prices and just five sat at the other end. "Stocks retreated so quickly. The upward trend was fragile whereas the downward trend was robust," said an investor. HOSE was slack on Thursday since investors traded just VND9.8 trillion worth of shares on the exchange (US$410 million). The VN30-Index echoed the VN-Index pattern with a loss of 36.02 points (3.22 per cent), ending the session at 1,081.36 points. In the basket, 28 stocks slid, one stayed flat and one climbed. Hoa Phat Group (HPG) led … [Read more...] about Market plunges on bearish sentiment

The capital city aims to develop unique and attractive services such as sports tourism, MICE tourism and golf tourism in the coming years. Hanoi has welcomed 13.87 million visitors in the first nine months of this year, an increase of more than four times over the same period last year. Of these, 766,000 are international visitors. Large-scale tourism events will be organized An Ao dai performance in Van Mieu Temple of Literature in Hanoi in early 2022. Photo: toquoc.vn Despite the significant recovery, the municipal tourism sector may not meet its target of receiving between one and 1.2 million visitors in 2022, according to experts, who added that Hanoi should organize large-scale tourism events soon to get closer to the previously set target. According to the Hanoi Department of Tourism, it will organize new tourism programs and cultural and entertainment events to attract more tourists to the capital until the end of the year. The department … [Read more...] about Build up a unique and appealing Hanoi tourism

Quoc Dung, a businessman, was impressed when he saw the expansive view of Aqua City, which spans 1,000 hectares while taking a yacht tour of Ho Chi Minh City's eastern urban area. According to him, this is not just a huge real estate development but also a livable city with a green ecosystem and low construction density. Hai Yen, Dung's wife, returned to the project after six months. She also expressed her surprise at the rapid change in the project. Yen feels more secure in her investment and looks forward to settling in the city and experiencing the high-class utility ecosystem here. Hai Yen and her husband return to the project after six months. Photo by Novaland Phan Thi Thu Thuy, a businesswoman with extensive knowledge in healthcare, is eager to make a home in the urban area. She said that the natural landscape and natural scenery were important factors in her decision to invest in Aqua City. In addition to having a home surrounded by nature, Aqua City … [Read more...] about 1,000-ha urban area to HCMC’s east to welcome residents by year end

Manufacturing has been identified as the growth engine of Vietnam’s economy, but the added value from the industry dropped sharply after the pandemic. While in 2019, the added value increased by 8.86 per cent compared to 2018, it only increased by 3.36 per cent in 2020 and 4.82 per cent in 2021, according to the General Statistics Office of Vietnam. Vietnam’s supporting industries seeking incentives - illustration photo Tran Thi Thu Trang, director of Hanel Import-Export JSC, found the current processes tough, especially when it comes to being one step ahead to capture customer needs and orders. “If you miss a beat, you are going to be 1-2 years behind in joining the global supply chain,” Trang said. “The enterprise’s capital has been poured into investment in machinery and equipment and needs support to invest in modern technology to make products more competitive. But currently, the state does not offer specific incentives for enterprises to invest in smart equipment … [Read more...] about Vietnam’s supporting industries seeking incentives

Banks continue to increase deposit interest rate to attract deposits. — Photo courtesy of Viet Capital Bank Viet Capital Bank has unveiled a certificate of deposit for individual and institutional customers with an interest rate of up to 8.4 per cent depending on the tenor. Customers can buy CoDs for just VND10 million (US$417) and receive interest of 7.5 per cent, 7.8 per cent, 8 per cent, and 8.2 per cent for terms of six, nine, 12, and 15 months. For 18-month term they can get 8.4 per cent. After six months they can freely transfer the CoDs and still enjoy higher interest rates than ordinary savings deposits, a bank spokesperson said. After the State Bank of Viet Nam raised its policy rate, many banks, including State-owned ones, have raised interest rates for dong deposits. ABBANK has the highest rate of 8.8 per cent for 13-month deposits of VND500 billion ($20.8 million) and above. Banks are also offering promotions to attract deposits. For instance, from October … [Read more...] about Deposit interest rates continue to rise

Illustrative image. (Photo: vneconomy.vn) Hanoi (VNA) – The COVID-19 pandemic has put the brake on Vietnam’s economic growth over the last two years but, on the other hand, it has also fueled a significant uptick in e-commerce which recorded a 16% growth to 13.7 billion USD in retail revenue in 2021, according to the White Book on Vietnamese E-business 2022. Last year, the economic growth hit the lowest in 30 years, at just 2.58%, with key services sub-sectors experiencing downturn. Data from the General Statistics Office showed that retailing and wholesaling declined 0.21% year-on-year, causing the economy to decrease 0.02 percentage point. Warehouse and logistics plunged 5.02% and lodging and catering services 20.81%, leading to a drop of 0.3% and 0.51%, respectively, to the GDP growth. Meanwhile, the share of turnover from e-retailing to last year’s total retail sales of goods and services was 7%, a year-on-year rise of 27% from 2020. E-retailing is forecast … [Read more...] about E-retailing to grow 20% this year