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G-bond value raised in April exceeds 34.8 trillion VND

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The State Treasury raised 34.81 trillion VND (1.48 billion USD) worth of Government bonds, or 84.39% of the total G-bonds on offer, via 14 auctions on the Hanoi Stock Exchange (HNX) in April.

G-bond value raised in April exceeds 34.8 trillion VND hinh anh 1Illustrative photo (Source: VNA)

Hanoi – The State Treasury raised 34.81
trillion VND (1.48 billion USD) worth of Government bonds, or 84.39% of the total
G-bonds on offer, via 14 auctions on the Hanoi Stock Exchange (HNX) in April.

Most of the total volume offered in the month was 15-year
and five-year bonds, accounted for 40.40% and 32.76%, respectively.

On the secondary market, the trading worth of G-bonds reached
over 130.7 trillion VND, up 6.13% month-on-month, with outright transaction
value making up 60.85%. The remainder were those traded via repurchase
agreements.

In the first four months, the State Treasury raised more than
139.68 trillion VND from G-bonds, fulfilling 34.92% of the yearly plan./.

Source: https://en.vietnamplus.vn/gbond-value-raised-in-april-exceeds-348-trillion-vnd/253135.vnp

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VinFast’s 5th electric vehicle costs under $30,000

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VinFast’s 5th electric vehicle costs under $30,000

VinFast VF 6 is introduced in an even in Ho Chi Minh City on Sep. 29, 2023. Photo by VnExpress/Thanh Nhan


Vietnamese automaker VinFast has launched its fifth electric car, the VF 6 crossover in the small-car segment, with base prices starting at VND675 million ($27,800).

The Plus version, which offers a range of 399 kilometers compared to the base’s 381 kilometers, costs VND765 million.

The battery costs VND90 million for each version.

Any customer who does not buy the battery can lease it for VND1.8 million a month, with a maximum monthly distance of 1,500 kilometers.

Sales begin October 20 and deliveries will be scheduled for the end of this year.

The VF 6 is in the same price range as the Hyundai Creta (starting at VND640 million) and the Kia Seltos (from VND599 million).

The B-segment (European classification’s smallest-car category) is rife with competition in Vietnam thanks to offerings by Japanese, South Korean, German and Chinese brands all seeking a bigger share.

Source: https://e.vnexpress.net/news/business/companies/vinfast-s-5th-electric-vehicle-costs-under-30-000-4659228.html

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Coordinating council for Mekong Delta region opens first meeting

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The coordinating council for Mekong Delta region opened its first meeting in Bac Lieu province on September 27 under the chair of Deputy Prime Minister Le Minh Khai, who is also head of the council.

Coordinating council for Mekong Delta region opens first meeting hinh anh 1At the meeting (Photo: VNA)

Bac Lieu – The coordinating council for Mekong Delta region opened its first meeting in Bac Lieu province on September 27 under the chair of Deputy Prime Minister Le Minh Khai, who is also head of the council.

At the meeting, which saw the participation of officials from central agencies and representatives from 13 regional localities, participants discussed specific mechanisms and policies for the region’s development, as well as the connectivity and coordination among projects that promote intra-regional and inter-regional links.

Deputy PM Khai affirmed the meeting was an opportunity to promote the potential and strength of the region, and put forward solutions to existing problems.

He highlighted the region’s particularly important strategic position in terms of economy, culture, society, environment, defence, security, and foreign affairs of the country. 

According to the Deputy PM, located in the country’s southernmost part, the Mekong Delta region is a bridge connecting Vietnam with other countries in ASEAN, especially those in the Mekong Subregion. It is also the country’s key agricultural region with various key products, especially rice, shrimp, tra fish, and fruits, and plays a huge role in the ecological environment, water security, and food security for the whole country.

Chairman of the Bac Lieu provincial People’s Committee Pham Van Thieu said the Mekong Delta is the country’s largest agricultural production hub, contributing 50% of total rice production and 95% of rice exports, 65% of aquaculture production, 60% of fish exports, and nealry 70% of fruit output.

He stressed the need to have a synchronous, effective coordinating mechanism in line with law and planning approved by competent authorities for the region’s fast and sustainable development.

Regarding orientations for the council in the near future, Deputy PM Khai urged ministries, sectors and regional localities to take specific actions to improve the operational efficiency of the regional coordinating council with a focus on modern, large-scale agricultural production, organic ariculture, the processing industry, preservation of agricultural and aquatic products, and product brand development.

He also urged the localities to promote economic restructuring, especially agricultural structure suitable for each  ecological area, effectively implement projects related to climate change adaptation. Other key tasks are to solve riverbank and coastal erosion, subsidence, saltwater intrusion, and drought, while developing a comprehensive strategy for protection and sustainabl use of Mekong River water resources.

In July and August 2023, Prime Minister Pham Minh Chinh signed decisions on the establishment of coordinating councils for six regions across the country – the Red River Delta region, the North Central and Central Coast region, the Southeast Region, the Central Highlands Region, Mekong Delta region and the Northern Midland and Mountainous region.

The councils are responsible for coordinating linking activities for regional socioeconomic and infrastructure development, with priority given to transport infrastructure. They will study and propose the formation of a fund for regional infrastructure development./.

Source: https://en.vietnamplus.vn/coordinating-council-for-mekong-delta-region-opens-first-meeting/268693.vnp

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Reinvigorating Vietnam’s export markets

A deceleration in exports is not only a matter of concern for businesses but also poses challenges for government agencies as exports constitute one of the three drivers of Vietnam’s economic growth.

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Many of Vietnam’s key exports began to witness a sharp decline in orders due to tightened consumer spending in major markets and growing trade barriers in many countries around the world.

In the first half of 2023, Vietnam’s total export and import value fell by 15.2%, with exports decreasing by 12.1% and imports by 8.2%. While foreign trade has improved in recent months, the total trade value during the first eight months of the year still dropped by 13.1%, with exports and imports down by 10% and 16.2% respectively.

Although the trade surplus has remained high, analysts said it is a cause for concern when exports have declined sharply, at times by double-digit percentages. Even during the 2008-2009 financial crisis, Vietnam’s trade still managed to achieve double-digit growth.

The primary reason is usually attributed to consumer budget tightening in major markets. But a closer examination shows that the aggregate demand of Vietnam’s major partners, such as the US, the EU, Japan and the Republic of Korea, has actually increased. For instance, US consumption is projected to rise by 2.3% in 2023 while the EU’s economy is also forecast to grow by 1%.

The question is why Vietnam’s goods have suddenly lost their market share significantly and what measures can be taken to rejuvenate the export markets.

During this challenging period, enterprises have focused on developing the domestic market to offset the reduced export revenue. While it is considered an appropriate strategy, it is not a long-term path for a developing economy like Vietnam. In the long run, the Vietnamese economy must still rely on the vast international market.

In order to restore the export markets and help boost economic growth, it is necessary to capitalise on the free trade agreements that have already come into effect to foster exports to untapped markets.

Furthermore, it is necessary to enhance the efficiency of goods clearance procedures between Vietnam and China, and accelerate the transition to official channels for both exports and imports.

For their parts, ministries and agencies should issue prompt warnings regarding trade defence lawsuits, guide enterprises to deal with such legal challenges and provide them with up-to-date information on new market requirements.

Source: Nhân Dân

Source: https://e.nhipcaudautu.vn/economy/reinvigorating-vietnams-export-markets-3355007/

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