KTFA:  Vietnam

Henig:  EVFTA ensures fair competition, subsidies

06:00 | 14/02/2023

(VEN) - Senior Vietnamese and European officials held a recent assessment of the initial two-year implementation of the EU-Vietnam Free Trade Agreement (EVFTA) at a meeting chaired by Minister of Industry and Trade Nguyen Hong Dien and European Commissioner for Trade Valdis Dombrovskis. Both acknowledged the efforts made by their respective monitoring agencies and enterprises in taking advantage of the trade deal’s many opportunities.

One of the most significant chapters of this new-generation agreement concerns the importance of fair competition policy to ensure a more efficient allocation of scarce public or private resources. Rules on competition are not about increasing market access per se, but rather about ensuring appropriate conditions which will enable market access to become effective and translate into real business opportunities.

KTFA: Vietnam: 

Henig:  State Treasury to auction VND400 trillion worth of government bonds in 2023

08:47 | 13/02/2023

The State Treasury has announced that it plans to raise VND400 trillion (over US$17 billion) worth of Government bonds via auctions on the Hanoi Stock Exchange (HNX) this year.

In the first quarter of 2023, the State Treasury will offer 108 trillion VND worth of G-bonds with different maturities, including 5-year and 7-year bonds valued at 8 trillion VND, 10-year and 15-year bonds each valued at 45 trillion VND, and 5 trillion VND worth of 20-year and 30-year bonds each.

On February 1, the HNX organised three auctions of 5-year bonds worth 500 billion VND, and 10-year and 15-year bonds worth 5 trillion VND each.

KTFA Vietnam: 

Henig:  PM holds roundtable discussion with Brunei energy, oil and gas firms

February, 11/2023 - 17:11

Delegates discussed and proposed new business ideas and opportunities to lift bilateral economic, trade and investment ties, especially in energy and oil and gas.

BANDAR SERI BEGAWAN — Prime Minister Phạm Minh Chính held a roundtable discussion with Brunei energy and oil and gas enterprises in Bandar Seri Begawan capital on February 11, as part of his ongoing visit to Brunei.

Delegates discussed and proposed new business ideas and opportunities to lift bilateral economic, trade and investment ties, especially in energy and oil and gas.

KTFA:   Vietnam:

Henig:  Banks suffered big losses from securities trading in 2022

February, 11/2023 - 08:52

Fiin Ratings attributed the banks’ negative results in securities trading and investment to the interest rate hike, the exchange rate uncertainty, the sharp decline of stock indices and the ‘freezing’ of the corporate bond market.

HÀ NỘI — Many banks reported negative results in securities trading and investment in 2022 due to the interest rate hike, the exchange rate uncertainty, the sharp decline of stock indices and the ‘freezing’ of the corporate bond market, cafef.vn reported.

At State-owned VietinBank, most of its main business segments experienced positive development in the last quarter of 2022. The bank’s net interest income rose by 23.6 per cent to VNĐ12.85 trillion and the net income from service activities increased by 53 per cent to more than VNĐ1.78 trillion while the net income from foreign exchange trading was VNĐ1.123 trillion, up by nearly 2.5 times year-on-year.

KTFA:

Henig:   Hà Nội targets GRDP per capita of $36,000 by 2045

07:00 | 10/02/2023

As the country continues to develop, the government is focused on ensuring that the capital remains at the forefront of this progress, positioning it as a hub for commerce, culture, and innovation in the years to come.

Hà Nội is set to become a globally-connected city with high living standards and quality of life, according to a new plan that aims to raise the Gross Regional Domestic Product (GRDP) per capita to US$36,000 by 2045.

As the country continues to develop, the government is focused on ensuring that the capital remains at the forefront of this progress, positioning it as a hub for commerce, culture, and innovation in the years to come.

Vietnam:

Henig:  Free trade deals yield bumper export year

06:00 | 09/02/2023

(VEN) - Effective use of Vietnam’s various free trade agreements (FTAs), especially of new-generation high-standard ones, has yielded a bumper year for exporters.

Increase recorded in markets

The value of 2022 import-export turnover, estimated at about US$750 billion, and the record trade surplus of more than US$11 billion, is being attributed largely to implementation of new-generation trade agreements Vietnam has signed in recent years. In fact, the FTAs have created opportunities to add value to key exported consumer goods.

Vietnam:

Henig:  Positive signs for Vietnam’s labour market

07:00 | 08/02/2023

Vietnam will continue to be affected by a labour shortage in the first and second quarters of 2023, but the deficit is not great and is mainly present in labour-intensive sectors such as garments, leather, and some export-led industries, especially in foreign-invested enterprises.

In the meantime, there is a demand for about 350,000-400,000 highly skilled workers. As the economic situation is projected to continue improving, the labour market is expected to recover and the demand for workers will rise again.

According to the Ho Chi Minh City Human Resources Forecast and Labour Market Information Centre, nearly 70% of the demand for new workers in 2023 will come from the services sector, while the remaining 30% will come from industry and construction.