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Measures suggested to guarantee corporate bond market’s stability



Several measures have been suggested at an online seminar held by the Government Portal on May 28 to help the corporate bond market maintain its stability and operate in line with law to aid economic growth.

Measures suggested to guarantee corporate bond market’s stability hinh anh 1Illustrative image (Photo:

Hanoi – Several measures have been suggested at
an online seminar held by
the Government Portal on May 28 to help the
corporate bond market maintain its stability and operate in line with law to
aid economic growth.

The corporate bond market is a big source of capital for the
economy. In the latter half of 2022, a “psychological” shock was recorded in
the private placement segment following many violations uncovered by

The Government, the Prime Minister and management agencies have
made many important decisions to stabilise the market, ensure its compliance
with law, and enhance people’s trust to support the economy.

Speaking via videoconference, Assoc. Prof. Dr Vu Minh Khuong,
a lecturer at the Singapore-based Lee Kuan Yew School of Public Policy, said to help enterprises avoid committing violations, their leaders should gain a thorough understanding of corporate
governance, ensure legal issues and rescue response, and conduct annual audits.

It is a highly urgent need to build a foundation
for a healthy financial system, he said, expressing his belief that the
Government of the current tenure can manage to do that and view current
challenges as a chance to make strategic determination to create a good
foundation for the time ahead.

Prof. Dr Hoang Van Cuong, Vice Rector of the Hanoi-based National
Economics University, held that it’s now the time for increasing resources for
businesses, noting companies are sourcing capital mainly from the corporate bond market
and bank loans, and enterprises’ stable operations will help maintain
macro-economic balance.

He added the bond market requires both capable
stakeholders and a legal environment for an ecosystem. Facing the recent “bond
crisis”, the Government has taken relatively timely and methodological moves to
early prevent the situation from getting worse.

Measures suggested to guarantee corporate bond market’s stability hinh anh 2Some participants in the online seminar (Photo: VNA)

Suggesting ways for shoring up the market, Deputy Minister of
Finance Nguyen Duc Chi said it is necessary to issue legal regulations on the
bond market and make flexible and effective response to changes in reality.

the Government issued Decree 65/2022/ND-CP and
Decree 08/2023/ND-CP, helping bond issuers and investors to have legal tools
and time to settle immediate difficulties in terms of money, liquidity, and
collateral, among others basing on the consistent principle of harmonising interests
and sharing risks.

Chi said
bond issuers must be responsible for their obligations and commitments towards
investors. State agencies need to monitor enterprises and the market to ensure
that obligations are fulfilled in accordance with law. Meanwhile, investors
themselves should also adhere to legal rules so that the State can guarantee
the market’s transparency as well as the rights and interests of all

Facing difficulties in the real estate market, the
Government has taken many measures to assist bond issuers such as
extending debt and tax payment deadlines and reducing lending interest rates. The
moves have helped the corporate bond market regain stability, the official went

At the
seminar, participants also shared views on the stabilisation of macro-balances
and the results obtained so far. They perceived that the combination of
policies on macro-economic governance, especially the harmonious use of fiscal
and monetary policies and an expanded fiscal policy like extending tax payment
deadlines, cutting down taxes, and reducing land rents, is critical to
macro-economic stability./.



Up to 116,300 enterprises established in nine months: GSO

As many as 116,300 enterprises registered for establishment, up 3.1% year on year, with combined registered capital of 1,086.8 trillion VND in the first nine months of 2023.



In the January-September period, 48,900 enterprises resumed their operations, a year-on-year decline of 3.2%, raising the total number of newly-established businesses and firms resuming operations to 165,200, up 1.2% year on year.

In September alone, there were 12,684 new enterprises with total registered capital of 117.2 trillion VND (4.8 billion USD) and 80,000 labourers, up 10.6% in the number of enterprises, down 13.9% in terms of registered capital and up 29.3% in the number of employees compared with the same period.

In the review period, the number of enterprises that temporarily suspended operations for a certain period of time was 75,800, up 21.2% from the same period last year.

Meanwhile, 46,100 businesses stopped their operations, waiting for dissolution procedures, up 26% year on year, and 13,200 enterprises completed dissolution procedures, down 4.3%.

Results of a survey on business trends of enterprises in the processing and manufacturing industry in the third quarter of 2023 showed that 30.1% of the respondents believed that their business performance was better than in the second quarter, while 37.5% said that the production and business situation was stable and 32.4% said they were facing difficulties.

GSO General DirectorNguyen Thi Huong said the industrial production situation will be better in the fourth quarter than the third quarter of 2023 in terms of production volume and export orders, adding that they can’t obtain high growth momentum but are expected to prosper compared with the first nine months of the year.

She suggested some solutions to support the industrial sector in overcoming difficulties, stabilising and developing production, which include stabilising electricity, water, and fuel prices to limit increases in production costs.

Huong also underlined the need to stimulate demand in the domestic market to assist businesses in finding partners to sell their products. It is necessary to reduce loan interest rates and facilitate procedures relating to accessing loans for businesses that face financial difficulties, especially small and micro-size enterprises so that they have capital to promote production and business activities in a more timely and effective manner, she said.

Source: Nhân Dân


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Emerging trends expected to power Vietnam’s tourism boom: study



Several ongoing trends in the Vietnamese tourism sector have contributed to its strong recovery in the wake of the global COVID-19 pandemic, with the increasing travel demands of Gen Z and families with kids as significant contributors, according to the Visa Global Travel Intentions Study (GTI) 2023.

Vietnam, with its stunning landscapes and diverse cultural heritage sites, has become a popular destination for travelers from around the world.

According to the study, it is vital for both travelers and industry stakeholders to understand new trends in Vietnamese tourism following the pandemic.

In terms of leisure trips, families with kids and ‘Silvers’ – individuals older than 60 – made an average of 2.4 trips over the past 12 months, more than any other market segments, according to the GTI 2023.

Besides ticking visiting landmarks, Vietnamese tourists are now placing a strong emphasis on leisure-focused and experiential journeys.

Relaxation was the main driver of travel, followed by shopping and exploration.

As the country blossoms into a playground for adventure seekers and culture enthusiasts, tourists are opting for personalized experiences that enable them to immerse themselves in local customs, traditions, and cuisine.

Environmental awareness was also a primary catalyst for travel over the past year. As such, Vietnamese travelers demonstrated remarkable interest and action in sustainable travel.

Up to 73 percent of those surveyed said they were either interested or very interested in sustainable travel options, while half had actively looked for these options when planning trips.

With an increasing number of travelers seeking eco-conscious options, the tourism sector is witnessing a shift toward greener travel practices, more support for local communities, and the preservation of natural resources.

Given the country’s growing middle class and their increasing disposable income, Vietnamese travelers are embarking on more domestic and international trips and they seek unforgettable experiences and bonding opportunities.

About one-fifth of the respondents said visiting and connecting with friends or families would be a key motivation for travel in the next year.

Shopping has also become an integral part of the Vietnamese travel experience, with many Vietnamese travelers seeking out unique souvenirs and indulging in retail therapy as part of their journeys.

Sustainable tourism is increasingly preferable for Vietnamese travelers

Sustainable tourism is increasingly preferable for Vietnamese travelers.

Amid the strong development of digital technology, Vietnamese tourists prefer seamless transactions and optimal security measures.

The digital revolution is transforming payment methods, and Vietnamese travelers have embraced the convenience of credit, debit, and pre-paid cards.

Almost all Vietnamese respondents in the GTI 2023 indicated that they intended to use these cashless payment options during their journeys, streamlining transactions and enhancing their overall travel experiences.

Accordingly, 64 percent of the Vietnamese respondents said they brought their digital wallets along with them for their travels.

Thus, the incorporation of cashless payment solutions has become a pivotal pillar in travel, fostering convenience, security, and efficiency for travelers while contributing to the industry’s overall vitality.

“Vietnam’s tourism is entering a new era where the role of digital payments will advance side by side with the industry as customers demand more efficient and secure payment services,” said Dang Tuyet Dung, Visa country manager for Vietnam and Laos.

“Adapting swiftly, hotels, restaurants, and tour operators must cater to evolving traveler needs, supported by the growing use of cashless payment methods for added convenience.”

Amid the global recovery from COVID-19, Vietnam’s tourism sector is rebounding. Domestic tourism has been pivotal, with locals exploring their own country, bolstering local businesses and jobs.

Vietnam welcomed over 7.8 million foreign visitors between January and August this year, meeting 98 percent of its full-year target of eight million international tourist arrivals.

The tourism sector also served 86 million domestic tourist arrivals in the eight-month period, according to the General Statistics Office.

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Zhejiang Trade Exhibition opens in Hanoi



The 2023 Zhejiang International Trade Exhibition and the 11th Zhejiang Export Fair, the largest and oldest expo independently held by China’s Zhejiang authority in ASEAN, opened at the Hanoi International Convention Centre on September 28.

Zhejiang Trade Exhibition opens in Hanoi hinh anh 1At the opening ceremony of the exhibition (Photo: VNA)

Hanoi – The 2023 Zhejiang International Trade Exhibition
and the 11th Zhejiang Export Fair, the largest and oldest expo independently
held by China’s Zhejiang authority in ASEAN, opened at the Hanoi International
Convention Centre on September 28.

The 4,000sq.m expo features 120 booths, displaying
products in hardware and machinery, textiles and inputs, interior and exterior
furniture, electronics and household appliances.

The three-day event is hosted by the Department of Commerce of Zhejiang province, and co-organised by Zhejiang Yuanda International Exhibition Co Ltd and
the Vietnam National Trade Fair and Advertising Company (VINEXAD).

Deputy Director of the Asia-Africa Market Development under the Ministry of
Industry and Trade  (MoIT) To Ngoc Son
said this is the 11th year the two sides have coordinated to
organise the trade promotion activity which marks the full recovery of economic
and trade exchanges between the two nations after three years of hiatus due to COVID-19.

Zhejiang Trade Exhibition opens in Hanoi hinh anh 2Deputy Director of the Asia-Africa Market Development To Ngoc Son speaks at the opening ceremony. (Photo: VNA)

The event is expected to create more cooperation opportunities for businesses
from both nations in the context that the global economy is facing a gloomy outlook,
he said, adding Zhejiang province – an important gateway in China’s eastern
region has an important role to play in the Vietnam – China trade, with Vietnam
– Zhejiang trade revenue accounting for 10% of the total trade between
the two nations in 2022.

Launched in 2011, the expo has been a platform not only for product exhibition
and promotion but also for Vietnam and China to strengthen economic and cultural
exchanges and multifaceted cooperation between their localities.

Last year, Zhejiang’s exports
to Vietnam reached 14.5 billion USD, an increase of 17.99%, while imports were 6
billion USD, up 14.21% over the same period last year.

The exhibition will run until September 30./.


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