This expansion was due mainly to a 4% on-quarter growth in government bonds to US$51 billion as the central bank increased issuance of bills. Vietnam’s bond market registered growth of 3.4% on-quarter and 1.9% on-year to US$55.1 billion as of the end-September, according to the latest edition of the Asian Development Bank’s (ADB) Asia Bond Monitor. This expansion was due mainly to a 4% on-quarter growth in government bonds to US$51 billion as the State Bank of Vietnam (SBV), the country’s central bank, increased issuance of central bank bills. The overall expansion of the country’s local currency bond market was slightly tempered by a 2.8% contraction on-quarter in the corporate bond market to US$5 billion. Nevertheless, the corporate bond market still posted growth of 4.2% year-on-year. Yield movement Vietnam’s local currency government bond yield curve shifted downward between August 31 and October 15. Bond yields for … [Read more...] about Vietnam’s bond market grows 1.9% in Jan-Sep, reaching US$55 billion
Interest rate increase effect on exchange rate
US Secretary of Defense gives speech at Diplomatic Academy
US Secretary of Defense Mark Esper (R) at the Diplomatic Academy of Vietnam (Photo: VNA) Hanoi (VNA) – US Secretary of Defense Mark Esper affirmed the US has attached importance to its comprehensive partnership with Vietnam while delivering a speech at the Diplomatic Academy of Vietnam in Hanoi on November 20. In his speech, Esper shared about his trips to the Republic of Korea, Thailand, the Philippines, and Vietnam after attending the ASEAN Defence Minister’s Meeting in Thailand. During Esper’s meetings with his counterparts, they highlighted the need to maintain order in line with international law to bring security and prosperity to the Indo-Pacific amid rising challenges. He emphasised that the US wants a strong, independent, prosperous Vietnam that plays an increasingly important role in the Indo-Pacific region, and spoke highly of strong development steps in bilateral ties in various areas since the normalisation of Vietnam – US relations. … [Read more...] about US Secretary of Defense gives speech at Diplomatic Academy
Shares sink under pressure
On the Hồ Chí Minh Stock Exchange, the VN-Index retreated ended Wednesday at 1,000.56, a loss of 0.77 per cent from Tuesday’s close.— VNA/VNS Photo HÀ NỘI — Shares tumbled on Wednesday after a brief recovery on Tuesday,as selling pushed heavyweight stocks down and weighed on investor sentiment. On the Hồ Chí Minh Stock Exchange, the VN-Index retreated ended Wednesday at 1,000.56, a loss of 0.77 per cent from Tuesday’s close. The VN-Index rose by 0.5 per cent on Tuesday. Only four of the top 30 shares by market value and liquidity on the southern exchange advanced while 25 declined. Except FLC Faros Construction (ROS) which rose more than 1 per cent, the other three – Vietjet (VJC), Hồ Chí Minh Development Bank (HDB) and property developer Novaland Investment (NVL) – inched up just 0.2-0.6 per cent. On the negative side, tech giant FPT Corp (FPT) and PV Gas (GAS) fell by over 2 per cent each. Big … [Read more...] about Shares sink under pressure
Wood furniture firms advised to optimize domestic materials
If Vietnamese businesses optimize the material sources they have and make the best use of trade promotion activities, their export earnings can surpass USD 8 billion. According to Huynh Van Hanh, Vice President of the Handicraft and Wood Industry Association of Ho Chi Minh City, in the past 15 years, the wood industry has maintained the growth rate of 8-15 percent a year despite world economic fluctuation. The world’s wooden interior décor market is predicted to grow 3.5 percent in 2018. The biggest issue of the wood processing enterprises in Vietnam is they are focusing on a market section with low added value, mostly concentrating on outsourcing for foreign clients. To further develop the domestic wood sector, the businesses should pay attention to a higher target of selling abroad the whole space of high-end interior décor instead of doing outwork and selling separate products. Meanwhile, the Vietnam Timber and Forest Product Association (VIFORES) … [Read more...] about Wood furniture firms advised to optimize domestic materials
Party leading official welcomes US Defence Secretary
Politburo member and permanent member of the Party Central Committee’s Secretariat Tran Quoc Vuong (R) receives US Defence Secretary Mark Esper (Photo: VNA) Hanoi (VNA) – Politburo member and permanent member of the Party Central Committee’s Secretariat Tran Quoc Vuong on November 20 received US Defence Secretary Mark Esper, who is now on a working visit to Vietnam. The US official spoke highly of the dynamic developments, position, role and active contributions of Vietnam to regional and international issues. He hailed the practical and effective developments of the Vietnam – US relations over the recent past, and affirmed that the US attaches importance to and hopes to further strengthen and deepen the relations as well as cooperation with Vietnam in all the fields, with that on defence being an important component. Esper congratulated Vietnam on its election as a non-permanent member of the United Nations Security Council for the 2020-2021 term and … [Read more...] about Party leading official welcomes US Defence Secretary
