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Negotiations on Vietnam-UK FTA expected to be completed late this year

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Vietnam and the United Kingdom are speeding up negotiations on a new-generation free trade agreement between the two sides, which is expected to be completed at the end of this year.

Negotiations on Vietnam-UK FTA expected to be completed late this year hinh anh 1

Delegates attend the webinar 

The information was released at a webinar themed “Vietnam’s Trade and Economic Future: Opportunities for British and Vietnamese Businesses”, which was jointly held by the Ministry of Industry and Trade’s European-American Market Department, the UK-ASEAN Business Council, the Vietnamese Embassy in the UK and the UK Embassy in Vietnam on October 6.

British Ambassador to Vietnam Gareth Ward highlighted the importance of the FTA to help boost trade between Vietnam and the UK.

He expressed his hope that the two sides will gain success in negotiations this year, especially in the context of the UK having left the European Union on January 31.

Speaking at the event, Deputy Minister of Industry and Trade Hoang Quoc Vuong said that in recent years, the business and investment environment in Vietnam has improved in a more transparent and convenient manner.

The country’s Government is determined to step up administrative reform to meet requirements of the market economy and create a reliable and attractive investment climate for enterprises.

Of note, amidst the movement of FDI flows, Vietnam’s maintenance of positive growth in disbursed capital is an encouraging result, affirming its attractiveness as an investment destination, Vuong stated.

Regarding bilateral relations, he stressed that the UK is an important market and always a prioritized cooperation partner of Vietnam.

The UK is a potential market for Vietnam’s tropical farm produce, garment and textiles, footwear, wood products and mobile phones, while Vietnam is a gateway market for UK businesses to approach the wider regional market, he added.

Since the two countries signed a strategic partnership agreement in 2010, their two-way trade had increased by 3.5 times to hit 6.61 billion USD in 2019.

As of August 2020, the UK had 400 valid investment projects in Vietnam with combined registered capital of 2.6 billion USD, ranking 16th out of 137 nations and territories pouring capital into the Southeast Asian country./.VNA

Source: https://vietnamnet.vn/en/business/negotiations-on-vietnam-uk-fta-expected-to-be-completed-late-this-year-679234.html

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Apple fans queue overnight to get hands on new iPhone 12 in Saigon

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There were long queues outside cellphone stores in Ho Chi Minh City late on Thursday night as Apple fans could not wait for the official launch of the iPhone 12 in Vietnam.

Apple started distributing the products to the Vietnamese market from 0:00 on Friday.

On this occasion, its authorized dealers in Ho Chi Minh City organized several interesting open sales events from 10:00 pm on Thursday.

Retailer Di Dong Viet welcomed customers to pick up their re-ordered iPhone 12s at a cinema on Tran Quang Khai Street in District 1 at 9:00 pm.

The event was also attended by famous Vietnamese artists and technology influencers.

A representative of retailer Di dong Viet speaks at its iPhone 12 launching event at a cinema on Tran Quang Khai Street in District 1, Ho Chi Minh City, November 26, 2020. Photo: Duc Thien / Tuoi Tre

A representative of retailer Di Dong Viet speaks at its iPhone 12 launch event at a cinema on Tran Quang Khai Street in District 1, Ho Chi Minh City, November 26, 2020. Photo: Duc Thien / Tuoi Tre

On the same street, hundreds of people queued in front of Minh Tuan Mobile Store to get their hands on the new iPhones.

The same busy spree was also found at the retail system of FPT Shop and F.Studio, two members of the leading Vietnamese telecoms firm FPT Corp, the PetroVietnam building, where an outlet of Shopdunk – a partner of the Apple authorized reseller PETROSETCO – is located, and the CellphoneS store on Nguyen Thai Hoc Street.

People attend a talk show at a CellphoneS store in Ho Chi Minh City before the official launch of iPhone 12, November 26, 2020. Photo: Duc Thien / Tuoi Tre

People attend a talk at a CellphoneS store in Ho Chi Minh City before the official launch of the iPhone 12, November 26, 2020. Photo: Duc Thien / Tuoi Tre

Tran Long, a customer at Minh Tuan Mobile Store, said that the new iPhone 12s were launched at more competitive prices than previous versions and even with sooner delivery.           

“I’m really excited to be one of the first customers in Vietnam to own an authentic iPhone 12,” Long said.

Vietnamese actor Huy Khanh (right) unboxes his new iPhone 12 at Minh Tuan Mobile store in Ho Chi Minh City, November 27, 2020. Photo: Duc Thien / Tuoi Tre

Vietnamese actor Huy Khanh (right) unboxes his new iPhone 12 at Minh Tuan Mobile Store in Ho Chi Minh City, November 27, 2020. Photo: Duc Thien / Tuoi Tre

Apple Inc. officially distributed the iPhone 12 and iPhone 12 Pro in some key markets, excluding Vietnam, on October 23.

The other two models – iPhone 12 Mini and iPhone 12 Pro Max – have been available from November 13.

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Source: https://tuoitrenews.vn/news/business/20201127/apple-fans-queue-overnight-to-get-hands-on-new-iphone-12-in-saigon/57994.html

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Vietnam among most resilient economies in Covid-19

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Vietnam is listed among only five countries on the rankings that are expected to enjoy economic growth in 2020.

Vietnam ranks 10th among the 53 most resilient economies in the Covid-19 pandemic, according to Bloomberg’s Covid-19 Resilience Ranking released Tuesday.

Vietnam among most resilient economies in Covid-19
 Vietnam ranks 10th out of 53 economies in Covid-19. Source: Bloomberg

Vietnam recorded 74.3 scores out of 100, above some regional peers namely Singapore with 74.2, Thailand 70.2, Indonesia 66.1, Malaysia 61.4, and the Philippines 48.9.

The Covid-19 Resilience Ranking ranks economies of more than US$200 billion on 10 key metrics, including growth in virus cases, the overall mortality rate, testing capabilities and the forged vaccine supply agreements.

The capacity of the local health-care system, the impact of virus-related restrictions like lockdowns on the economy, and citizens’ freedom of movement are also taken into account.

Bloomberg said the result is an overall score that’s a snapshot of how the pandemic is playing out in these 53 places right now, adding that the ranking will change as countries switch up their strategies, the weather shifts, and other reasons.

Vietnam among most resilient economies in Covid-19
Only five economies on the Ranking are expected to grow in 2020. Source: IMF

Vietnam posted zero (0) in terms of one-month case per 100,000 people, one-month case fatality rate, and total deaths per one million. Meanwhile, its positive test rate is 0.1%.

Regarding economic growth, Bloomberg said Vietnam’s low-cost manufacturing sectors have propped up growth in those places as the wider slowdown fueled Western consumers’ demand for cheaper goods.

The International Monetary Fund (IMF) forecast Vietnam’s GDP growth for 2020 is at 1.6%. The country posted a decade-high growth rate of 7.08% in 2018 and 7.02% in 2019.

Vietnam, a country of 97 million people, has confirmed 1,321 cases and 35 deaths, and has undergone 85 days without locally-transmitted infections.  Hanoitimes

Linh Pham

Source: https://vietnamnet.vn/en/business/vietnam-among-most-resilient-economies-in-covid-19-692982.html

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VN-Index maintains upward momentum

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VN-Index maintains upward momentum

An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.


The VN-Index gained 0.42 percent to close Friday, its ninth consecutive gaining session, on 1010.22 points.

It had crossed the 1000-point mark the previous session. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was overwhelmingly in the green this session with 251 stocks gaining and 167 losing.

Total trading volume abated slightly compared to the past week, at VND9.87 trillion ($426.75 million), whereas it was always at least VND10 trillion in the past four trading sessions, the highest trading levels seen in the history of the HoSE.

According to Nguyen The Minh, Head of Retail Research at brokerage Yuanta Vietnam, selling pressure is expected to rise soon as investors seek to take profits after the VN-Index registered nine consecutive gaining sessions.

“However, there is still room for the VN-Index to gain, as current macro-conditions are different from before, and so the 1,000-point resistance threshold will not be a major obstacle,” he added.

Analysts at various securities firms pointed to a number of major M&A deals scheduled to take place at the end of the year, new cash from first-time investors, low interest rates, and high liquidity of the main bourse as major factors that will continue to support the VN-Index’s growth.

Bluechips took the spotlight for Friday’s session, with the VN30-Index for the market’s 30 largest caps surging 0.72 percent. 15 stocks on it gained, compared to 12 that lost.

Topping gains was HDB of private lender HDBank, which hit its ceiling price, up 6.7 percent. This session was the deadline for HDBank to finalize its list of shareholders for the year’s dividend issue.

The next best gainers were all from different sectors. POW of electricity firm PetroVietnam Power climbed 3.7 percent, PNJ of jewelry retailer Phu Nhuan Jewelry 3.4 percent, HPG of steelmaker Hoa Phat Group 3.3 percent, and SBT of agricultural exporter TTC-Sugar with 3.3 percent.

Results were mixed in the public banking sector. Of Vietnam’s three biggest lenders, VCB of Vietcombank added 0.5 percent, CTG of VietinBank kept its opening price, while BID of BIDV dropped 0.4 percent. MBB of mid-sized Military Bank was up 2.6 percent.

The same can be said for the private banking sector. TCB of Techcombank was up 0.4 percent, STB of Sacombank kept its opening price, while VPB of VPBank and EIB of Eximbank shed 0.7 percent and 0.9 percent respectively.

In the construction and real estate sector, KDH of Khang Dien House rose 0.6 percent, ROS of FLC Faros up 0.5 percent, VHM of Vinhomes up 0.4 percent, NVL of Novaland was down 0.2 percent, while TCH of Hoang Huy Group topped losses with 2.2 percent.

Other major losing tickers included VJC of budget carrier Vietjet Air, down 0.9 percent, VIC of Vietnam’s largest private conglomerate Vingroup, with 0.8 percent, and SAB of major brewer Sabeco, also with 0.8 percent.

The HNX-Index for the Hanoi Stock Exchange, home to mid- and small-caps, lost 0.15 percent, but the UPCoM-Index for the Unlisted Companies Market gained 0.44 percent.

Foreign investors turned net buyers this session, to the tune of VND90 billion on all three bourses, with buying pressure on VJC of Vietjet Air and the FUEVFVND, an exchange-traded fund replicating the performance of stocks on the VN Diamond Index, a bag of 14 stocks, most of which are blue chips.

Source: https://e.vnexpress.net/news/business/economy/vn-index-maintains-upward-momentum-4195985.html

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