Many countries are rushing to sell US bonds as China might be threatening to dump US bonds. Experts are weighing how the situation would impact Vietnam’s development. US-China trade relations have witnessed increasing tensions recently China was reported to have sold about $3 billion US treasury bonds so far. The country’s net selling of US bonds has been running for a month now, triggering concerns that China might be “dumping US bonds” as a weapon amidst escalating US-China trade tensions. Economists assumed that it would not be a big concern if other countries started selling-off US bonds. However, if China, that currently holds nearly $1.2 trillion worth of US bonds, started dumping bonds, it could cast tremendous impacts on the global market. For countries like Vietnam, an economic slump in the US could bring diverse effects, from exchange rate and investment capital flows to trade. The first direct impact would be sharply reducing capital flows … [Read more...] about China dumping US bonds: implications for Vietnam
Vo tri thanh
Technology key to Vietnam’s economic growth
Delegates attend a meeting on digital enterprises and innovation in Hanoi on October 26 (Photo: tienphong.vn) Hanoi (VNS/VNA) - Vietnam’s gross domestic product (GDP) growth reached 6.81 percent last year, the highest in the last decade. The country’s competitive capacity increased five places to rank 55th out of 137 countries, its innovation index increased 12 ranks and the index of sustainable development rose 20 places. These achievements are attributed to the efforts of the Government in transforming the economic growth model, applying the achievements of industry 4.0 and promoting innovation in the digital era, announced a meeting on digital enterprises and innovation in Hanoi on October 26. It was co-organised by the Institute for Brand and Competitiveness Strategy (BCSI) and the Vietnam Internet Association. The digital economy has four pillars, which are digital technology infrastructure, supporting infrastructure, electronic business and e-commerce, said … [Read more...] about Technology key to Vietnam’s economic growth
Tech key to development
Delegates attend a meeting on digital enterprises and innovation in Ha Noi on Friday. — Photo tienphong.vn Viet Nam’s gross domestic product (GDP) growth reached 6.81 per cent last year, the highest in the last decade. The country’s competitive capacity increased five places to rank 55th out of 137 countries, its innovation index increased 12 ranks and the index of sustainable development rose 20 places. These achievements are attributed to the efforts of the Government in transforming the economic growth model, applying the achievements of industry 4.0 and promoting innovation in the digital era, announced a meeting on digital enterprises and innovation in Ha Noi on Friday. It was co-organised by the Institute for Brand and Competitiveness Strategy (BCSI) and the Viet Nam Internet Association. The digital economy has four pillars, which are digital technology infrastructure, supporting infrastructure, electronic business and e-commerce, said Nguyen Thi Minh Huyen, … [Read more...] about Tech key to development
Vietnamese business scion’s book published in US comes home
Speaking to an audience at the release function at the Hanoi Opera House, its author, Tran Uyen Phuong, said "Competing with Giants" is a book about love. "Love was the motivation for me to finish this book. It was the love for my company," Phuong, vice chairman of her family-owned company, Tan Hiep Phat Beverage Group (THP), said. At the core of the book lies the belief that nothing is impossible, she explained. From being a small local company, THP had entered the beverage market and faced foreign "giants" who were dominating the industry. As a guest speaker at the event, FPT chairman Truong Gia Binh said the book gives readers faith to turn a desire into actions. To go from "I want" to "I can", a person must overcome his/her fears, and the book gives people the inspiration to do so, he said. Vo Tri Thanh, an economist, said the book doesn’t have fancy prose unlike a work of literature but attracts readers by telling an excellent business story. Justin Batt, chief revenue … [Read more...] about Vietnamese business scion’s book published in US comes home
BUSINESS NEWS IN BRIEF 17/10
Hanoi Gift Show 2018 to draw more than 250 exhibitors Local airlines increase aircraft fleet Data from the Civil Aviation Administration of Vietnam (CAAV) show that the number of aircraft registered in Vietnam amounted to 175 as of September, up 14% year-on-year. Cat Lai customs work with 58 shipping firms over waste imports Customs officials at HCMC's Cat Lai Port have worked with representatives of 58 shipping companies that have transported over 3,000 containers of scrap to the port to determine their responsibilities and brief them of the Prime Minister’s Directive 27 on solutions to enhance control over imported waste, Thanh Nien newspaper reported, citing Pham Thi Leo, deputy head of Saigon Port Area 1 Customs Office. Leo said the customs agency was cooperating with these shipping companies in line with the 2014 Customs Law and 2005 Maritime Law. Shipping companies were asked to carry ineligible scrap imports out of Vietnam. They must assume responsibility for the waste … [Read more...] about BUSINESS NEWS IN BRIEF 17/10