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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At the Youth Entrepreneurship Forum 2018 last month, Minister of Information and Communication Nguyen Manh Hung suggested that the Prime Minister should soon recognize English as the second official language of Vietnam to help startups reach out to the world. The proposal stirred a heated discussion on social media and prompted numerous professionals to pitch in with their views and opinions. While some welcomed the idea and supported widespread use of the language in Vietnam, others were wary of the cultural, legal and other implications of formalizing it as an official language. Everyone agreed that it was good to improve English use and fluency in the country, so the debate boiled down to whether declaring and using it as an official language was a feasible, practical option for Vietnam. Professor Chung Hoang Chuong, who has juggled teaching at the University of California and doing research in Vietnam, was optimistic about Vietnam having two official languages. Chuong, currently a … [Read more...] about English as an official language in Vietnam: would it work?
Viet Nam News HCM CITY — HCM City’s District 1 has been a magnet for property developers in recent years thanks to its constantly improving infrastructure. Being in the heart of the city, the district is home to government offices, local and foreign companies and shopping centres. The property market in the district, especially the condo segment, always runs hot and prices never come down. In the last 10 years a number of infrastructure works have been completed, including the 12-lane Võ Văn Kiệt Boulevard connecting districts 6 and 8 and provinces to the city’s west, Nguyễn Hữu Cảnh Street connecting the eastern region and the Thủ Thiêm tunnel connecting districts 2 and 9. The district also got a walking street during this period while the first metro route has been under construction here for several years. It is soon set to become the first district in the city to become ‘smart’, with e-governance and … [Read more...] about District 1 property market on the up
Many investors express interest in NovaHills Mui Ne Resort & Villas at a conference on the Mui Ne – Phan Thiet tourism property market. The tourism property market in Mui Ne, a beach town in the south-central province of Binh Thuan, has recently become a hot destination for both foreign and domestic investment thanks to its 200km coastal road and improved infrastructure. At a conference on the hospitality market late last week experts said popular tourism property markets like Da Nang, Nha Trang and Phu Quoc have slumped after growing strongly for a long time. The money moved to other areas in pursuit of new investment opportunities, they said. Dương Thuy Dung, senior director of CBRE Vietnam, said tourism properties in coastal provinces have great potential to develop thanks to their advantageous location and weather condition. Some provinces like Da Nang and Nha Trang have an edge because of their excellent infrastructure including an international airport … [Read more...] about Mui Ne — Phan Thiet, a new magnet in hospitality market
The Hanoitimes - Many foreign manufacturers in China are speeding up plans to move their factories from China to Vietnam in a move to take advantages here and avoid impacts of the US-China trade conflict. Vietnam is establishing itself as the industrial powerhouse in Southeast Asia According to Frederick Burke, general director of law firm Baker McKenzie Vietnam, in recent months, his firm has received many Chinese business delegations, who want to promote the opening of factories in Vietnam to shift their production from China to the Southeast Asian nation as soon as possible in a move to avoid a 25 percent tax rate imposed by the US on Chinese goods. Explaining why the manufacturers choose Vietnam, Burke said that Vietnam is not only a garment outsourcing address for the world but is stepping up its position in the global supply chain now. In fact, the outsourcing cost in Vietnam has increased, so investors here are looking for more value-added forms, such as supply chain … [Read more...] about Foreign manufacturers rush to relocate production from China to Vietnam