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Stock market sees signs of rallies in second half



The stock market is expected to see more investment opportunities for the medium and long term in the second quarter of 2023, according to analysts.

Stock market sees signs of rallies in second half hinh anh 1A woman performs a transaction on mobile phone at Bao Viet Securities’ office. (Photo: VNA)

Hanoi –
The stock market is expected to see more
investment opportunities for the medium and long term in the second quarter of
2023, according to analysts.

In its latest report, BSC Securities Company said that the market witnessed
strong divergence among industry groups in the first quarter of the year.
Particularly, the financial, material, and energy sectors all posted better
performances than the benchmark VN-Index.

The securities firm also lowers its GDP growth forecast to 5.8% in the positive
scenario, compared to 6.7% in early 2023, and to 5.3% in the negative scenario,
the report said.

Many signs show that production activity is weakening while the real estate
industry is still facing many challenges. In the first four months of the year,
import and export value growth also declined.

However, the macro situation has shown some positive signs, as
inflation was controlled stably with the CPI data in April up only 2.84%, the
benchmark exchange rate was under control, and FDI capital inflows improved.

The macro factors will create favourable conditions for the
central bank to continue lowering the policy rates to support the economy.

The State Bank of Vietnam on May 23 announced another rate cut of half
a percentage point. And the decision is expected to have a positive impact on
the stock market in the long term, said Nguyen Minh Hoang, director of the
Analysis Department at VietFirst Securities.

“As the central bank cut interest rates as expected for the third time, it
is already priced in. So in the near term, the market will not show a strong
response,” Hoang said.

“However, the move helps reduce the borrowing cost for businesses,
increasing the credit cycle and supporting the economy. So it will have a long
term impact on the market.”

The expert also said that given the lower interest rate environment, flows of
cash running to savings in 2022, when interest rates were high, are now likely
to find other investment channels, including the stock market.

“It will also create expectations even for industries which are now weak
in the market. For example, the manufacturing, retail, import-export groups are
the groups seeing better prospects in the second half of 2023,” Hoang

Activities to boost disbursement of the State budget and accelerate
disbursement of public investment in the second half of 2023 will be the
driving force behind the economic recovery and growth plan in the period of
2023-25, according to BSC Securities.

In the first four months, disbursement of budget capital is estimated at 131.2
trillion VND (5.59 billion USD), up 18% over last year and equal to 19% of the
year plan.

The Government is making considerable efforts to promote public investment. BSC
expects that directly affected industries such as infrastructure construction,
building materials, and indirectly affected groups, including commercial real
estate, industrial parks, and seaports, will benefit.

BSC also expects foreign investors to maintain their net buying position in the
second half of 2023 when corporate profits will gradually improve compared to
the first quarter and monetary and fiscal policies help the economy grow.

Meanwhile, the issues related to bonds and the real estate market have been
gradually resolved.

In the long term, foreign investors still show considerable interest in the
Vietnamese market as it continues to receive some additional capital flows from
the Fubon ETF and the China Trust Vietnam Opportunity Fund from Taiwan.

In terms of industry valuation, some groups show more attractive valuations
than in the past, such as banking, real estate, industry, fisheries, oil and
gas, and retail.

On the contrary, some industry groups with higher valuations than in the past,
such as textiles and garments, basic resources, seaports, and aviation
services, will be strongly affected by profit prospects this year./.



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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Vietnam’s nine-month economic growth reported at 4.24% YoY

The country’s GDP grew by 4.24% in the first 9 months, exceeding the growth rate of 2.19% and 1.57% in 2020 and 2021, according to data from the General Statistics Office.



The results suggest that the economy is experiencing a notable upswing, potentially due to favorable economic politics or external factors.

The gross domestic product in the July-September quarter was estimated to increase by 5.33% from a year earlier, faster than the growth rate of 4.05% in the second quarter.

The recent growth registered in the country’s economy is a positive sign, indicating a continued recovery from the pandemic-induced downturn. Despite a slight decrease in growth compared to the same period last year, the economy remains stable and may continue to grow in the coming months.

In September, the consumer price index increased by 3.66% compared to the same period last year. The average value recorded in the third quarter of 2023 grew by 2.89% compared to the third quarter of 2022.

In the reviewed period, the total import and export turnover of goods reached $497.66 billion, down 11% over the same period last year. Of which export value hit $259.67 billion, down by 8.2%, while import value hit $237.99 billion, down 13.8%.

With regard to trade balance, the country posted a trade surplus of $2.29 billion in September and $21.68 billion during the nine months.

Industrial production in September increased by 5.1% year on year, up 0.1% from the previous month, while the January-September period showed an increase of 0.3% from the previous year.

In addition, the total retail sales and consumer service revenue in the first 9 months of 2023 is estimated to reach VND 4,567.8 trillion, an increase of 9.7% year on year (the same period in 2022 increased 20.9%). 


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