Global markets update

Việt Nam’s consumer finance market has been growing in recent years but it is still small compared to other Southeast Asian countries and has room for development. According to our market research, by the end of 2017, outstanding consumer loans were equivalent to 22 per cent of the country’s GDP and 17 per cent of the country’s outstanding loans. It is also reported that most consumer loans in Việt Nam concentrate on housing improvement, which makes the actual loans for consumer durables and consumer services much smaller than the 22 per cent of GDP. As a result, Việt Nam’s consumer finance market is behind other regional peers and growth opportunities are still there. … [Read more...] about A bright future for Việt Nam’s consumer finance market

Total retail sales of goods and services in the first seven months of this year decreased by 0.4 per cent year-on-year, but revenue increased by 3.6 per cent, ensuring the essential needs of people and the supply of raw materials, fuel, machinery, equipment and goods to maintain production and business for domestic market and exports as well. … [Read more...] about Domestic market supports businesses amid COVID-19 pandemic

Saigon Jewelry Company bought gold at VND53.58 million per tael and sold at VND55.48 million per tael, a decrease of VND3.07 million per tael in buying rate and VND2.8 million per tael in selling rate at 5 p.m. in Ho Chi Minh City. At the same time in Hanoi, Bao Tin Minh Chau Jewelry Company listed SJC gold price at VND53.6 million per tael for buying, down VND2.8 million per tael, and VND55.45 million per tael for selling, down VND2.35 million per tael. In the global market, the precious metal sank by about US$10 an ounce to trade at $2,022 an ounce. After conversion, this price level was equal to VND56.7 million per tael, higher than the domestic gold price by VND1.2 million per tael. Thus, just in the three latest trading sessions, SJC gold has lost around VND7 million per tael compared to the highest price of nearly VND63 million per tael made on August 8. As SJC gold price has dropped steeply in a short time, from higher than the global gold price by up to VND5 million per tael … [Read more...] about Gold declines by more than VND3 million per tael

Vingroup is a conglomerate with the country’s largest real estate operations and interests in retail, healthcare, education, automobiles, smartphones and electronics. Run by the country’s first billionaire, Pham Nhat Vuong, it has reported a market cap of $12.2 billion as of mid-March, down 22.9 percent from last January, the report said. … [Read more...] about Vingroup only Vietnamese representative among world’s top 750 family businesses

Dr. Do Tuan Dat, director of the Company for Vaccine and Biological Production No.1 (VABIOTEC) under the Ministry of Health, said Russia is poised to launch its manufactured vaccine known as ‘Sputnik V’, the first of its kind worldwide, although it has yet to release any scientific data relating to testing.  … [Read more...] about Vietnam yet to purchase Russian COVID-19 vaccine