Vn index

Workers process chilled meat at the Masan's meat processing complex in Long An Province. Masan's shares declined more than 5 per cent yesterday. — Photo courtesy of Masan Robust selling pressure at the end of the session drove the VN-Index down more than 26 points, or 1.94 per cent, to close Monday at 1,324.99 points. On the Ho Chi Minh Stock Exchange, the red covered most of the electronic board with 377 stocks falling, only 47 rising and 42 closing flat. In the VN30 basket, which tracks the top 30 shares by market value and liquidity, 24 sank while only two advanced and four ended unchanged. Masan Group (MSN) was the stock dragging the market most with a loss of more than 5 per cent, followed by other heavyweights such as Vinhomes (VHM), Vingroup (VIC) and Vietcombank (VCB) which decreased by more than 1 per cent each. Twenty-four sectors out of 25 tracked by vietstock.vn lost value, led by finance, insurance, securities with an average loss of around 5 per cent each; … [Read more...] about Shares sink in the red on cautious investor sentiment

Vietnam’s tuna exports to EU see strong surge thanks to EVFTA Vietnam exported 15,870 tonnes of tuna worth 73.33 million USD to the European Union in the first half of 2021, up 39.3 percent and 31.6 percent, respectively, against the same period last year, according to a journal published by the Ministry of Industry and Trade (MoIT). The tuna shipments accounted for about 15.1 percent of Vietnam’s total seafood export value to the EU. In the second quarter of 2021, the country shipped 9,360 tonnes of tuna to this market, raking in 45.05 million USD, up 43.9 percent in volume and 59.3 percent in value from the previous quarter. The surges were attributed to tariff reductions granted to Vietnam’s tuna products under the EU-Vietnam Free Trade Agreement (EVFTA), which took effect on August 1, 2020. According to the MoIT, Vietnamese tuna was sold at 4.62 USD per kg on average to the EU in the first six months of the year, down 0.27 percent year on year. The global tuna prices … [Read more...] about VIETNAM BUSINESS NEWS SEPTEMBER 25

The speed of economic recovery would largely depend on the scale of the vaccination program, although testing remains a key solution to prevent the spread of the pandemic. The serious Covid-19 situation, slow progress in the vaccination program, and strict requirements on movements are among issues that downgraded Vietnam’s rank among the world’s fastest-growing economies. Chairman of the National Assembly Vuong Dinh Hue at the meeting. Source: quochoi.vn World Bank’s lead economist Jacques Morisset stressed the view in a social-economic consultation conference held today [September 27] under the chair of the Chairman of the National Assembly Vuong Dinh Hue. In this regard, Morisset called for more efficient management of movement limitations by simplifying procedures and a smooth data-sharing mechanism between agencies. To stabilize the macro-economic condition, the World Bank expert suggested the Government keep a balance between monetary and fiscal … [Read more...] about Solutions for Vietnam to claim spot among world’s top economic prospects

Vietnam-US trade ties have enjoyed impressive growth (Source: laodong.com.vn) Hanoi (VNA) – The Vietnam-US trade ties have enjoyed impressive growth during 26 years since the normalization of diplomatic ties. Looking back at the past 20 years in international trade, there is no relationship which has such a fast growth rate like that of the Vietnam-US trade relationship, said Nguyen Xuan Thanh , senior lecturer at Fulbright School of Public Policy and Management in Vietnam. Prof. David Dapice , leading expert on development economics in Southeast Asia, Harvard Kennedy School, Harvard University, used the word “spectacular” to describe the development of economic cooperation between Vietnam and the US. Two-way trade rose from over 400 million USD in 1995 to more than 90 billion USD in 2020. Vietnam’s total export turnover to the US from 1 billion USD in 2000 increased to 10 billion USD in 2007, mainly thanks to the bilateral trade agreement taking effect in … [Read more...] about Vietnam-US trade ties enjoy “spectacular” growth

A Chinese expert has his temperature taken as he arrives at a quarantine site in Vietnam. — VNA/VNS Photo To resolve some of the difficulties facing enterprises and foreign workers, this resolution has been approved by the Prime Minister and was issued on September 9. To facilitate foreign workers coming to work in Vietnam, the Government requested the Ministry of Labour, Invalids and Social Affairs to relax some of the regulations and conditions on granting and extending Work Permits, while ensuring pandemic prevention and control measures are not compromised. Under Point A, Clause 3, Article 3 of Decree No. 152/2020/ND-CP, foreigners must hold a Bachelor’s degree or higher, or an equivalent degree, and have at least three years of work experience in the field were trained. That experience and academic qualification must match the job that the Work Permit application is related to. This rule has now been eased; foreigners must still hold a Bachelor’s degree or higher, or an … [Read more...] about New resolution eases requirements for Work Permit applications for foreigners

At a factory of Nestle in Hung Yen province (Photo: baodautu.vn) Hanoi (VNA) – Recent announcements made by foreign investors on additional investment to expand production in Vietnam reflect their trust in Vietnam’s prospects for economic recovery, reported the Dau tu (Investment Review) newspaper. The Swiss company Nestle said it is pouring an additional over 130 million USD, raising its total investment in Vietnam to 730 million USD to carry out a number of its projects in the next two years. Urs Kloeti, Factory Manager of Nestle Bong Sen, was quoted by the newspaper as saying that his company believes in Vietnam’s role as an international and regional manufacturing hub in the future. Alongside Nestle, other foreign firms have committed to maintaining operations in Vietnam despite the fourth wave of COVID-19 outbreaks that have forced various localities to apply stringent preventive measures. Tetra Pak of Sweden has confirmed that it will pump 5 million EUR (5.86 … [Read more...] about Foreign investors keep trust in Vietnam’s recovery