VietNamNet Bridge - MB Securities estimates that if Vietnam is upgraded into a secondary emerging market, it will be able to attract $4.5 billion worth of capital. Hoang Cong Tuan from MBS said at a workshop on the prospects of Vietnam’s stock market several days ago that Vietnam may be put on MSCI’s watchlist for upgrading to an emerging market by June 2020. He believes the possibility of joining MSCI Emerging Market is high. Under MB Securities’ positive scenario, the announcement about the upgrading could be released by June 2021. The proportion of Vietnam’s stocks in MSCI index basket would depend on the capitalization value and the market liquidity at the time of being upgraded. It is still too early to estimate the amount of capital. However, MBS estimates that, if the upgrading had been announced in December with the proportion of 0.3 percent, the foreign capital flow would have been worth $4.5 billion. The proportion of Vietnam’s … [Read more...] about $4.5 billion to be poured into Vietnamese stock market: analysts
5 billion years of solitude
Vietnam exports USD 3.5 billion worth of coffee in 2018
The average export price of coffee reached USD 1,883 per ton, down 15.7 percent versus 2017. Photo: vicofa.org.vn The Ministry of Industry and Trade forecasts Vietnam will face difficulties in exporting coffee in the first half of 2019 due to low global prices and declining domestic coffee output. According to the Vietnam Coffee – Cocoa Association, Vietnam’s coffee output in the 2018 crop declined by about a fifth due to the impact of climate change and conversion to growing more high-yield crops. Source: VNA … [Read more...] about Vietnam exports USD 3.5 billion worth of coffee in 2018
Việt Nam exports US$3.5 billion worth of coffee in 2018
A farmer havests coffee in the Central Highlands province of Đăk Lăk. — VNA/VNS Photo Phạm CườngViet Nam News HÀ NỘI — Việt Nam exported more than 1.8 million tonnes of coffee worth US$3.54 billion in 2018, marking year-on-year rises of 20 per cent and 1.2 per cent respectively. The average export price of coffee reached $1,883 per tonne, down 15.7 per cent versus 2017. The Ministry of Industry and Trade forecasts Việt Nam will face difficulties exporting coffee in the first half of 2019 due to low global prices and declining domestic coffee output. According to the Việt Nam Coffee – Cocoa Association, Việt Nam’s coffee output in 2018 declined by about a fifth due to the impacts of climate change and conversions to more high-yield crops. Last year, Vietnam shipped 74,120 tonnes of coffee beans to Algeria alone, earning $132.48 million, up 56 per cent in volume and 28 per cent in value from … [Read more...] about Việt Nam exports US$3.5 billion worth of coffee in 2018
FLC plans to pour US$1.5 billion into agriculture
The plan will grow FAM – an FLC subsidiary specialising in the production and import-export of farm produce – and support farmers in improving their productivity, product quality and distribution. — VNA/VNS PhotoViet Nam News HÀ NỘI — Property developer FLC Group said it will inject US$1.5 billion into agricultural development across 15,000 hectares of land in Việt Nam during 2018 and 2019.— VNS … [Read more...] about FLC plans to pour US$1.5 billion into agriculture
8.5 billion VND in Lawrence Ting scholarships presented to students
At the scholarship award presentation ceremony in Ho Chi Minh City on September 22 (Source: http://voh.com.vn) HCM City (VNA) – The Lawrence S. Ting Memorial Fund and Phu My Hung Development Corporation on September 22 presented nearly 8.5 billion VND (365,500 USD) worth of scholarships to 371 students in Ho Chi Minh City and a number of charity and study encouragement organisations. … [Read more...] about 8.5 billion VND in Lawrence Ting scholarships presented to students
Nearly $4.5 billion worth of G-bonds raised so far this year
A total of VND104.2 trillion (US$4.46 billion) has been raised this year as of August 22 by the State Treasury of Viet Nam via auctions of Government bonds at the Ha Noi Stock Exchange. At an auction last week, the State Treasury mobilised VND4.1 trillion worth of 10-year and 15-year Government bonds. Bonds with 10-year maturity raised VND1.5 trillion with annual interest rate of 4.6 per cent, up 0.03 per cent from the previous auction on August 15. A sub-session auction of 10-year bonds drew VND600 billion with yearly interest rate of 4.6 per cent. Those with a 15-year term attracted VND1.4 trillion with an annual interest rate of 4.87 per cent, up 0.03 per cent in comparison with the rate of the previous auction. As much as VND600 billion was mobilised from 15-year bonds at the sub-session auction with an interest rate of 4.87 per cent per year. No bonds of five-year, seven-year and 30-year terms were sold at this auction. Last year, Vietnam sold some VND159.9 trillion worth of … [Read more...] about Nearly $4.5 billion worth of G-bonds raised so far this year
Vietnam posts nearly US$5 billion worth of wood exports in seven months
The export revenue of wood and wooden products was estimated at US$4.8 billion in the first seven months of this year, an increase of 11.6% compared to the same period in 2017, the Ministry of Agriculture and Rural Development has announced. Vinanet forecast that Vietnam's exports of wood and wooden products will increase by 13-15 pct in the second half of 2018 - illustrative image According to the Vietnam Industry and Trade Information Center (Vinanet), FDI firms reported over US$1.78 billion worth of export revenue from wood and wooden products in the first six months of this year, up 4.8% over the same period last year and equivalent to 43.2 pct of the total export revenue of wood and wooden products. The US, China, Japan and the Republic of Korea (RoK) were the largest wood importers of Vietnam in the first half of this year, accounting for 78.5 pct of the total export value of wood and wooden products. During the six-month period, Vietnam earned US$1.6 billion from the … [Read more...] about Vietnam posts nearly US$5 billion worth of wood exports in seven months
Ca Mau targets 2.5 billion USD from shrimp exports by 2025
The southernmost province of Ca Mau is striving to earn 2.5 billion USD from shrimp exports by 2025. (Photo: VNA) Ca Mau (VNA) – The southernmost province of Ca Mau is striving to earn 2.5 billion USD from shrimp exports, and become the largest shrimp breeding hub in the country by 2025. Under the shrimp industry development plan, the province eyes to expand shrimp raising area to 279,000 hectares with a total output of 233,000 tonnes by 2020. It expects to gain 1.8 billion USD from shrimp shipments to foreign markets. By 2025, the shrimp breeding area will be reduced to 260,000 hectares but its total output and export revenue is hoped to reach 320,000 tonnes and 2.5 billion USD. In a bid to realise the set target, the provincial authorities will prioritise developing infrastructure in large-scale shrimp raising areas, applying advanced technology, and use rational production methods. The province will expand super-intensive, intensive and semi-intensive shrimp farming, … [Read more...] about Ca Mau targets 2.5 billion USD from shrimp exports by 2025
$5 billion ‘wrongly spent’ each year: where has the money gone?
VietNamNet Bridge - The Government Inspectors’ conclusion that $5 billion worth of state’s money is “wrongly spent”’ a year has stirred up the public, reported Dat Viet. Vietnam needs huge capital for infrastructure development “$5 billion means 2-3 percent of Vietnam’s annual GDP ($200 billion). This is an unacceptably high level,” said Nguyen Van Ngai from the HCM City Agriculture & Forestry University. He noted that this is the official figure released by the Government’s Inspector and he is not sure if there are unreported figures. “I am afraid that if taking unreported figures into consideration, the real figure would be even higher,” he said. Dinh The Hien, an economist, said it is necessary to clarify what “wrongly spent” means. “Does ‘wrongly spent’ include expense items which don’t come in line with the laws, ineffective expense items and expenses in embezzlement … [Read more...] about $5 billion ‘wrongly spent’ each year: where has the money gone?
Domestic fashion brands seek foothold in $3.5 billion market
VietNamNet Bridge - Domestic brands are expected to have opportunities to prosper in the local market amid the massive arrivals of foreign brands. The Vietnamese fashion market is worth $3.5 billion Pessimistic forecasts have been given about the fate of Vietnamese fashion brands which have to compete with powerful brands like Uniqlo, Zara and H&M. Vietnamese customers spend more money on foreign branded goods. The value of the Vietnamese fashion market (clothing & footwear) is estimated at $3.8 billion in 2018, of which expenditures on clothing are $3.5 billion. Vietnam, which mostly does outsourcing for foreign partners, has never been considered a power in the fashion industry. However, analysts believe that Vietnamese brands will not surrender to foreign brands in the home market because they have certain advantages. RELATED NEWS How are Vietnamese fashion brands faring? How attractive is Vietnam’s fashion market for foreign retailers? Mai Nam … [Read more...] about Domestic fashion brands seek foothold in $3.5 billion market