The Cuu Long (Mekong) Delta province of Kien Giang is expanding organic rice farming and developing linkages between various stakeholders in the value chain.

The country’s largest rice producing province is targeting 6,500ha in An Minh, An Bien and Vinh Thuan districts and an annual output of 31,900 tonnes by 2025.

By 2030 it plans to expand the organic rice area to 25,000ha in the three districts and also U Minh Thuong, Go Quao and Han Dat, and output to 129,185 tonnes.

Le Huu Toan, Deputy Director of the province’s Department of Agriculture and Rural Development, said organic rice cultivation would increase added value, enable sustainability, help implement the country’s target programmes, and promote the province’s potential.

The province is set to pioneer the development of organic rice, seamlessly blending environmental preservation and bio-diversity enhancement, according to the official.

The strategy involves a substantial increase in the adoption of organic farming methods, incorporating elements such as organic pesticides and fertilisers.

Extensive efforts will be made to disseminate organic rice farming techniques among growers, equipping them with the skills to efficiently manage cultivation and rice processing.

Stringent inspections of certified organic rice-growing models will continue, ensuring compliance with the highest standards.

Small-scale enterprises, co-operatives, and household units demonstrating the capability to produce organic rice will be carefully selected and connected with relevant stakeholders to participate in various models.

Infrastructure investments in designated organic rice areas will prioritise advanced farming techniques, focusing on key components like irrigation systems, pumping stations, power infrastructure, roads, warehouses, rice dryers, and processing facilities.

A meticulous approach to managing the quality of materials used in organic rice cultivation and the usage of organic brand names will secure quality.

The province will actively promote collaborative ties among farmers, companies, scientists, and local authorities to foster the production of organic rice.

Kien Giang has joined the Ministry of Agriculture and Rural Development’s project aimed at cultivating 1 million hectares of high-quality, low-emissions rice aligning with green growth goals in the Mekong Delta until 2030.

In the current winter-spring rice season, the province plans to cultivate 60,000 hectares under this initiative, with the participation of over 100 co-operatives.

These co-operatives meet three key criteria: simultaneous sowing of certified seeds, adopting the "one must - five reductions" method and strengthening partnerships with companies to secure outlets.

The "one must - five reductions" method prioritises certified seeds while minimising the use of seedlings, nitrogenous fertilisers, plant-protection chemicals, and irrigation and post-harvest losses.

The province aims to cultivate 279,000 hectares of winter-spring rice, with high-quality varieties to constitute over 95% of total yield.

A cautionary note advises farmers to complete sowing before year-end to avoid water shortages.

Significant focus is directed towards the development of large-scale rice fields, creating favourable conditions for partnerships between companies and farmers.

More than 1,300 large-scale rice fields pooling a total area of 167,225 hectares have been established, more than double last year's count.

There are also 300 rice-growing areas totalling over 6,000ha with production codes for export to markets including the EU and Japan.

The province has embraced information technology for disease monitoring and equipped farmers with advanced agricultural techniques.

Collaborating with localities, its irrigation sub-departments have implemented co-ordinated measures to combat drought and saltwater intrusion, safeguarding water meant for agriculture, including the 2023-2024 winter-spring crop.

Infrastructure enhancements encompass construction of and upgrades to saltwater prevention dams, irrigation sluices and electric pumping stations, canal dredging, and repairs, ensuring effective operation, particularly the Cai Lon-Cai Be irrigation sluice system, the delta's largest.

In the previous autumn-winter season farmers in the province enjoyed bumper harvests and high selling prices, and made profits of 20-25 million VND (800-1,000 USD) per hectare.

Across Giong Rieng, Go Quao, Chau Thanh, Tan Hiep, Hon Dat, and Giang Thanh districts, over 90,000 hectares produced an average yield of 5.7 tonnes per hectare.

Danh Phuong, a farmer in Giong Rieng district’s Ban Thach commune, said in 2022 autumn-winter he did not grow any rice, but this year he grew two hectares of Dai Thom 8 rice because of favourable weather forecasts and high prices.

“At the start of the season, traders paid an advance for rice at a rate of 8,500 VND per kilogramme, nearly double the price of the 2022 autumn-winter crop.

“Recognising the profit potential, I signed a sales contract with a trader early.”

Binh Duong furniture makers seek to enter Indian market

A delegation from the Binh Duong Furniture Association (BIFA) is attending the India International Furniture Fair (IIFF) in New Delhi from December 14-17.

This year's event is the largest among five editions, featuring over 150 booths from Indian furniture companies and those from Vietnam, Malaysia, Turkey, Italy and China.

The Vietnamese delegation’s presence at the event aims to seek customers in India and internationally, grasp preferences for wood and furniture in India. The team also wants to introduce two major wood fairs scheduled for next year in Vietnam, including the Hawa Expo - Ho Chi Minh Export Furniture Fair from March 6-9, and the outdoor lifestyle fair in Quy Nhon city from March 9-12.

A representative from BIFA said the US, European Union (EU), Japan and the Republic of Korea are major importers of Vietnamese wood and furniture. Due to the global economic downturn, the demand in these markets has declined. The BIFA is actively seeking new markets, with a focus on India and the United Arab Emirates (UAE).

Wood and wooden furniture are among the top six currency earners of Vietnam, the biggest and seventh largest wood exporter in Southeast Asia and the world, respectively.

With a total market size of 41 billion USD, India is the world’s fourth largest consumer of furniture. Its home sales during the 2022-2023 fiscal year surged by over 36% annually. Meanwhile, the hotel industry is also experiencing robust growth, with plans to add additional 12,000 rooms next year and attract around 2.3 billion USD in investment by 2028.

Outstanding industrial products in rural areas honoured

As many as 173 products were recognised as national outstanding rural industrial goods in 2023 at a ceremony held by the Ministry of Industry and Trade in Hanoi on December 15.

The products, which were selected from 465 products at the regional level, have good quality, hold great potential to expand production, and meet the taste of both domestic and foreign customers.

Speaking at the ceremony, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan asked stakeholders to continue support businesses in trade and investment promotion and the application of advanced technologies into production to improve productivity and ensure food safety.

It is necessary to work out measures to assist the formation of production in a sustainable value chain, and promote economic and labour restructuring in rural areas, he said. The move aims to preserve the cultural values of craft villages, helping them better integrate into the global market.

He also encouraged enterprises to continue research, expand production and develop their products to make further contributions to the nation’s socio-economic development.

Activities held within the framework of the exhibition included a talk on the development of rural industrial products and a consultation on digital transformation.

Indian authority receives request for anti-dumping probe on tempered glass from Vietnam

The Directorate General of Trade Remedies of India (DGTR) has received a request for anti-dumping investigation on textured tempered coated and uncoated glass products originating or imported from Vietnam, reported the Ministry of Industry and Trade’s Trade Remedies Authority of Vietnam (TRAV).

The products are classified under HS codes 7003.1990, 7005.1010, 7005.1090, 7005.2190, 7005.2990, 7005.3090, 7007.1900, 7007.2190, 7007.2900, 7016.9000, 7020.0090, and 8541.4011.

The request was filed by Borosil Renewable Limited. The subsidy investigation will cover the period from April 2020 to March 2023 while the loss investigation period will span from June 2022 to June 2023.

If the DGTR launches the investigation, it will publicly announce the probe in the national gazette, and issue a questionnaire for the government of the exporting country and manufacturers, and Indian importers to collect information and relevant documents related to the case.

The TRAV suggested relevant manufacturers and exporters review their export activities to India since 2020, grasp information and prepare contingency plans in case the DGTR officially initiates the investigation, and proactively contact the TRAV for timely assistance.

Business-networking event promotes Vietnam-Senegal trade ties

A hybrid Vietnam-Senegal business-networking event was held in Dakar on December 14, gathering representatives of the Senegalese Ministry of Commerce and about 50 firms from both countries.

Mbaye Chimère Ndiaye, Secretary General of the Dakar Chamber of Commerce, Industry and Agriculture, described the event as an excellent opportunity for Vietnamese and Senegalese businesses to enhance economic and trade cooperation.

He said the two nations’ friendship and multi-faceted cooperation have traversed over five decades, yielding achievements in potential areas such as agriculture and trade. In 2022, bilateral trade hit 70.6 million USD. Vietnam's main exports to Senegal include peppercorns, confectionery and cereal products, fruits and vegetables, garments, seafood, and rice, among others.

Ndiaye also praised Vietnam's farming sector and its capacity to provide high-quality human resources training in agriculture and industry. These similarities represent opportunities for private enterprises of both sides to establish mutually beneficial partnerships, he noted.

Hoang Duc Nhuan, Trade Counsellor of Vietnam in Algeria, Gambia, Mali, Niger, Senegal and Tunisia, acknowledged positive outcomes in bilateral trade exchanges. However, he held that the sides’ trade cooperation is still modest and not commensurate with their potential, partly due to a lack of sufficient interest from their businesses in exploring each other's markets.

He recommended both sides to actively organise trade promotion activities, increase business delegation exchanges, facilitate participation in international fairs and exhibitions, and provide advice to resolve emerging disputes.

Some Senegalese delegates suggested that, in addition to conventional trade, Vietnamese enterprises should consider investing in Senegal, particularly in processing agricultural products (cashew nuts, mangoes, watermelons) and textiles manufacturing to leverage local resources and labour and to export to other regional countries amid the implementation of the African Continental Free Trade Agreement (AfCFTA).

Senegal’s agencies for foreign trade and export promotion proposed the trade and industry federations of the two nations establish a Vietnam-Senegal business council to facilitate cooperation mechanisms, bring together representatives of the business communities, share useful information, discuss common challenges, and convey firms’ opinions to the governments and relevant authorities.

Robust infrastructure development makes Hà Nội a magnet for capital

With robust infrastructure development coupled with the drastic effort to improve the investment climate, Hà Nội has made itself a magnet for capital influx and contributed significantly to promoting the country’s socio-economic development.

In 2008-22, the capital city attracted a total investment of VNĐ4.04 quadrillion (US$16.7 trillion) with an annual increase of 11.4 per cent.

Regarding foreign direct investment (FDI), Hà Nội remains among the top destinations for the inflow. As of the end of 2022, the capital city has attracted more than 4,500 FDI projects with a total registered capital of more than $33 billion.

In the first 11 months of 2023, Hà Nội attracted about US$2.7 billion of foreign direct investment (FDI) capital, an increase of 77.1 per cent over the same period in 2022, ranking fifth in Việt Nam in attracting FDI, according to the Hà Nội Department of Statistics.

They included a registered capital of $335 million from 378 new projects and an increased investment capital of $270 million from 157 existing projects.

Besides that, 299 foreign investors invested more than $2 billion by capital contributions or purchasing shares, including Japanese investor Sumitomo, buying shares of VPBank with a total value of $1.5 billion.

Hà Nội expects to attract FDI capital of about $3.1 billion in 2023 and $3.15 billion in 2024.

According to economist Trần Đình Thiên, the increase in the FDI flow in Hà Nội this year demonstrates the improved confidence of investors in the business environment of the capital city.

FDI capital flows into Hà Nội in recent years have tended to increase, especially after Việt Nam has participated in many bilateral and multilateral free trade agreements (FTAs).

The capital city is considered a safe, attractive and potential destination for foreign businesses and investors, driven by its competitive advantages gained from its robust infrastructure system, sustainable development orientations, abundant human resources, and potential market, as well as the local authorities' reform efforts.

According to the Foreign Investment Agency, Ministry of Planning and Investment, foreign investors have invested capital in large cities with favourable infrastructure, such as Hà Nội and HCM City.

Under its development planning, Hà Nội has identified priority industries and fields to attract investment by the general development trend. That helps the city to participate in the global value chain and exploit its advantages.

The fields include the development of urban infrastructure and smart cities, supporting industries, information technology, research and development, tourism, financial-banking services, human resource training, and high-tech agriculture.

In recent years, Hà Nội has always focused on developing a digital economy. The General Statistics Office's report showed that in Việt Nam, Hà Nội is the leading locality in the information technology industry with revenue at about VNĐ320 trillion, nearly 8,500 information technology enterprises, and two out of Việt Nam's five industrial parks for the information technology industry.

Therefore, many foreign-invested enterprises have highly appreciated the improvement of the business and investment environment of Việt Nam and Hà Nội in particular. That is a favourable premise for the companies to develop.

These businesses have also affirmed that they have chosen Hà Nội to expand investment and company in the coming years, especially in the high-technology sector.

Recently, the Government has handed over the Hòa Lạc Hi-Tech Park to Hà Nội to manage. With synchronous infrastructure, Hòa Lạc Hi-Tech Park has all the conditions to support investors in developing projects.

So far, Hòa Lạc Hi-Tech Park has attracted 106 projects with a total registered investment capital of about VNĐ86 trillion and $703 million. About 60 projects are in operation, creating jobs for approximately 14,500 skilled workers.

The capital city will continue to focus on speeding up the progress of elevated traffic projects and underground urban railways, including Ring Road No. 4 and Ring Road No. 5, by 2027.

The development of the infrastructure system and industrial and high-tech parks will be an essential factor in promoting the competitiveness of the capital city towards long-term and sustainable development.

Vice chairman of the People's Committee of Hà Nội Nguyễn Mạnh Quyền said the capital city is ready to support the investors in the development of investment and business activities.

The city continues to innovate in investment promotion, promoting investment promotion agencies' role in luring investment and improving the business and investment environment.

In particular, the Capital Law is built to solve obstacles in attracting more resources for Hà Nội, especially issues of mechanisms and policies attracting investment in high technology.

Industrial parks in Hà Nội also need to renovate their infrastructure to attract more investors.

Meanwhile, the Hà Nội Investment, Trade and Tourism Promotion Centre needs to perform investment promotion programmes, Quyền said.

Additionally, the relevant departments and branches must coordinate closely with the centre to provide information and support for the investors at home and abroad.

At the same time, the city also organises dialogues with local and foreign investors to remove difficulties and give them support. 

Businesses committing to act according to sustainable strategy honoured

Only commitment and action according to a sustainable strategy could help businesses overcome difficulties and challenges to develop, prosper and create lasting happiness, said Chairman of the Việt Nam Chamber of Commerce and Industry (VCCI) Phạm Tấn Công at the ceremony to announce the Top 100 Sustainable Businesses in Việt Nam 2023, taking place in Hà Nội this week.

The goal of supporting and promoting the building of a sustainable business community had been persistently pursued by VCCI for two decades, said Công.

The stability and sustainable growth in production and business activities of the businesses honoured at the Corporate Sustainability Index (CSI) 2023 announcement ceremony are proof of the right choice when they committed and pioneered the application of sustainability criteria on all three aspects of environment, social and governance (ESG) for the long-term business strategy of the enterprise.

Speaking at the event, Trần Tuấn Anh, Politburo member and head of the Central Committee’s Economic Commission, said that the global context of many unprecedented problems arising, alongside the broad trend toward green economy, circular economy, sustainable development and the fourth industrial revolution, were posing new challenges, requiring entrepreneurs, businesses and each country to constantly innovate to take advantage of opportunities and overcome challenges for rapid and sustainable development.

“Of the nearly 500 business applications participating in this year's programme, up to 23 per cent are businesses participating for the first time. These things show that the story of sustainable development is spreading more strongly in our business community, to all types of businesses, in different fields," said Anh.

To move towards a sustainable business community, each business needs to start from building a sustainable business culture, converting business thinking to responsible business, creating economic growth in harmony with environmental and social benefits. Businesses must be honest and truly care about social responsibility and sustainable business.

At the same time, it was necessary to further promote initiative, creativity, flexibility and co-operation to create added value for all parties, he added, from there, finding new directions, new opportunities, and promptly grasping trends, helping to create competitive advantages for businesses.

At the ceremony to announce sustainable enterprises, the 100 exemplary sustainable enterprises in Việt Nam were honoured.

Among the Top 10 sustainable enterprises in the fields of trade - services and production, foreign invested enterprises account for 40 per cent, Vietnamese enterprises account for 60 per cent, of which 25 per cent are enterprises with dominating State capital.

Southeastern region’s economic growth set at 8-9 per cent per year

By 2030, the southeastern region’s yearly economic growth is set to reach 8-9 per cent while the average income per capita will be US$14,500-15,800 each year, according to the regional planning for the 2021-30 period.

The Southeastern Regional Planning Appraisal Council on Friday approved the planning at its meeting in Hà Nội under the chair of Deputy Prime Minister Trần Hồng Hà.

Hà said the planning must take advantage of strengths and unique products of the region while focusing on urban and rural space planning.

He said the southeastern region’s economic, trade, culture, tourism development must link with other regions and localities while the urban area is connected by a synchronous and modern transportation and technical infrastructure system.

"The master plan needs to identify key tasks to innovate the region’s economic structure and bring into full play its strengths," he said.

The region’s industrial sector of must be at the forefront of innovation, green economy, green energy and core technology. Agriculture must focus on high technology, creating green space connected with tourism, the leader said.

The southeastern region must play a pioneering role in education, training, scientific research and technology. Its cultural heritages, nature reserves, biodiversity areas must be regulated in detail in the planning for sustainable exploitation, he said.

He noted the southeastern region would be the first place to pilot new breakthrough policies of the country.

According to the reports delivered at the meeting, the southeastern region is the country’s economic engine, making huge contributions to the national economic growth, exports, state budget revenue and job creation.

The region’s industrial parks and clusters are the most developed in Việt Nam, accounting for 30.6 per cent of the country’s total and built attached with economic corridors.

The region has the highest urbanisation rate (67.3 per cent) and is home to financial service, banking, commerce, logistics, training, health, science and technology centres.

However, the southeastern region's development has not been in par with its potential and advantages with economic growth likely to slow down.

According to the newly approved master plan, the region will prioritise high-tech industries and high-quality services, in which digital economy, green economy, sharing economy, and circular economy are the focus and driving force of development.

Members of the Southeastern Regional Planning Appraisal Council agreed that it would be necessary to expand the region’s development space to reduce pressure in the central area by prioritising investment in traffic, logistics, energy, water supply and drainage and digital infrastructure. The region should focus on developing high-tech industry, becoming the centre of financial services, logistics, trade, education and training, science and technology of the country. 

Bắc Giang aims to attract South Korean FDI for robust development

Positioning industry as the cornerstone of its development, Bắc Giang Province has actively promoted and attracted foreign direct investment (FDI), notably from South Korea.

Bắc Giang's FDI has consistently ranked among the top 10 provinces and cities nationwide, underscoring its status as a prime destination for numerous enterprises and major corporations.

On September 16, 2023, Hana Micron Vina Co Ltd from South Korea inaugurated the semiconductor production plant project in the Vân Trung Industrial Zone. This marks the first semiconductor production project in Northern Vietnam.

Covering a total area of 66,000 square metres, the company completed and put Factory 1 into operation in 2022. On September 16, 2023, Hana Micron Vina officially inaugurated and commenced operations at Factory 2. By 2025, the company plans to increase total investment to over US$1 billion, with projected revenue reaching $800 million and providing employment for around 4,000 workers.

Phan Thế Tuấn, Vice Chairman of the provincial People's Committee, said that South Korea currently leads in both the number of FDI projects implemented in Bắc Giang and the total registered capital. Korean enterprises contribute approximately 25 per cent to the total industrial production value of the province, 30 per cent to the value of import and export, and 21.3 per cent to the local budget.

In recent times, the province’s leaders, along with departments and agencies in Bắc Giang, have collaborated with international organisations in Việt Nam, including the Korea Trade-Investment Promotion Agency (KOTRA), and the country's diplomatic representatives abroad in information exchange and investment promotion efforts to showcase the province's strengths and attract investment.

Tuấn shared that Bắc Giang's development direction aligns with the green growth trend. To this end, the province has already issued the Green Growth Action Plan for the 2021-30 period. The plan aims to develop crucial economic sectors towards greening, enhance the production and use of renewable energy, focus on investing in the development of sectors to address environmental issues, and contribute to economic restructuring, aligned with a sustainable development model. Additionally, the province prioritises the establishment of smart urban models as a central solution to drive socio-economic development.

Expressing his hope for future cooperation, Tuấn emphasised the potential collaboration between Bắc Giang and capable, experienced South Korean partners in developing smart cities, green growth, and sustainable investments. He believes this partnership will be mutually beneficial, offering investment opportunities for Korean enterprises in Bắc Giang.

According to the provincial People's Committee, by 2030, Bắc Giang plans to develop 29 industrial zones covering 7,840 hectares and 65 industrial clusters covering 3,164 hectares. The province aims to achieve a total actual investment of VNĐ246 trillion (US$10.3 billion) during the 2021-25 period and VNĐ613 trillion during the 2026-30 period, accounting for 47-48 per cent of the total social investment.

Efforts to enhance land use efficiency for investment projects are targeted to increase by an average of 6 per cent per year, reaching VNĐ800 million per hectare in 2025 and VNĐ1.1 billion per hectare by 2030. It is envisioned that all investment projects will complete environmental protection procedures before commencing operations. By 2025, 45 per cent of projects are expected to use advanced technology, increasing to 55-60 per cent by 2030.

Bắc Giang encourages and attracts globally renowned partners with significant financial capabilities, stable, long-term investment potential, and the ability to invest in the production of supporting products. The province discourages foreign investment projects without a commitment to long-term investment in the region (small projects that lease factories). The focus is on attracting investments based on the global development of specific industries, without being limited to any particular country or partner.

In October 2023, Bắc Giang attracted a total converted investment capital of $161 million, 3.4 times higher than October 2022. Consequently, in the first 10 months of 2023, the province attracted a total investment of $2.2 billion, doubling the figure from the same period last year.

Trần Hải Linh, Chairman of the Vietnam-Korea Business and Investment Association, affirmed the association's readiness to accompany Bắc Giang in promoting and attracting investment with Korean partners. This includes supporting export activities, collaborating on high-quality human resource development, and recruiting labor for Korean enterprises in Việt Nam. 

Vietnam – a gateway for Canadian firms to enter ASEAN: Canadian business insiders

Being the largest trade partner of Canada in ASEAN, with two-way trade topping 7 billion USD in 2022, Vietnam will play an important role as a gateway for Canadian firms to enter the region bloc that has one of the highest growth rates in the world and is expected to be the world’s consumption centre by 2030 given its market size, according to Canadian business insiders.

Canadian enterprises, including those from Quebec, have expressed their keen interest in the Vietnamese market, given the thriving trade ties between the two countries since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into force five years ago.

Trade revenue between the two countries rose from 3.86 billion USD in 2018 to more than 7 billion USD in 2022. During January – June this year, the figure reached 3.6 billion USD.

Director General of the Indo-Pacific Region under the Quebec Ministry of International Relations and Francophonie Gabriel Chartier said that the ministry rolled out its India-Pacific Strategy in 2021, which identified Vietnam and other Asian countries as important partners to expand business activities.

The Quebec international investment agency was established, responsible for supporting local firms who want to develop their business in Vietnam, he added.

There are around 125 cooperation projects between Vietnam and Quebec. Two-way trade has exceeded 1.5 billion USD, with the Canadian side selling electronics, agricultural products and medical equipment to Vietnam, and buying footwear and clothes from the Southeast Asian country.

The two sides are planning to carry out new cooperation projects, helping diversify collaboration in all areas, from culture, sustainable development to technology study.

Vice President of the Indo-Pacific at Export Development Canada (EDC) George Monize described Vietnam as an amazing market with high GDP growth and an expanding middle class.

According to Chairman of Groupe Engram Remy Franzoni, his customers have been curious and interested in cooperation opportunities with Vietnam, which holds strengths in technology and electronics.

The sound Vietnam-Canada relations have contributed to concretising Canada’s Indo-Pacific Strategy and its strategic partnership with ASEAN, he said, adding the Quebec authority and the Canadian Government as a whole have given priority to Vietnam, and consider the country a new intersection in the global value chain due to the cooperation potential in key areas.

Market to continue decline despite recovery efforts, signals indicate short-term risks

The market is likely to continue its decline in the short term this week, with the support zone of 1,100 points providing temporary relief before reassessing supply and demand dynamics, based on the current market conditions and recent signals.

On the Hồ Chí Minh Stock Exchange, the VN-Index inched down 0.71 per cent to close at 1,102.30 points, widening the three-day loss to more than 2 per cent.

An average of 724 million shares were traded on the southern exchange during each session last week, worth VNĐ15.5 trillion (US$738.5 million).

According to Việt Dragon Securities Co, liquidity increased on Friday, showing that supply is proactive and putting pressure on the market, while cash flow is still generally cautious. The selling pressure mostly came from Foreign Investors, especially ETF restructuring activities at the end of the trading session.

The market has gone through three sessions of decline and is approaching the support zone of 1,100 points, retesting the Gain Gap zone of 1,102 - 1,108 points. It is expected that this area will temporarily help the market slow down the decline and have a recovery response to recheck supply.

"However, the recent reversal signal has created short-term risks for the market, and the area of 1,110 - 1,115 points is becoming a resistance area," it said.

"Therefore, investors need to slow down and observe supply and demand in the near future to reassess the market state. Currently, investors should take advantage of the recovery to take short-term profits or structure your portfolio to minimise risks."

Selling pressure, particularly from Foreign Investors and ETF restructuring activities, has been a significant contributor to the market's decline towards the support zone of 1,100 points, said vietstock.vn.

This level will likely provide temporary relief and potentially trigger a recovery response to assess supply. However, recent reversal signals pose short-term risks, and the range of 1,110 - 1,115 points is now acting as a resistance area. Therefore, it is advisable for investors to exercise caution, closely monitor supply and demand, and reassess the market's condition in the near future, it said.

According to the Việt Nam Securities Depository and Clearing Corporation (VSD), individual investor accounts in Việt Nam surpassed 7.76 million by the end of September 2023, representing approximately 8 per cent of the population. While this figure is relatively low compared to other Asian countries, it highlights the potential for further market expansion.

As Việt Nam's economy continues to develop, with annual GDP growth averaging 6-7 per cent, the country is striving to achieve developed status by 2045. The private business sector is also thriving, leading to an increasing number of companies listing on the stock exchange, said VPS Securities Co.

Furthermore, favourable interest rate policies are playing a significant role in supporting stock market valuations in 2024. Sustaining low deposit interest rates for a considerable period is crucial not only to reduce lending rates but also to stimulate economic activities, it said.

With these promising factors in mind, the Vietnamese stock market stands at a pivotal moment, poised to transition into an emerging market. This transition is expected to attract more foreign indirect investment, both from active investment funds and index funds (ETFs). Increased capital inflow will provide listed businesses with resources to invest in production and business expansion, penetrate new markets, boost competitiveness and strengthen Việt Nam's international market position. 

Runners set records at VnExpress Marathon Hải Phòng

Elite Phạm Thị Hồng Lệ and amateur Hứa Thuận Long became the first champions of the 2023 VnExpress Marathon Hải Phòng yesterday.

National team member Lệ, a regular face at races nationwide, faced little challenge from Bùi Thị Thu Hà, also an elite runner, in the women's full marathon. The duo quickly separated from the whole bunch to run neck-to-neck throughout the race.

Lệ proved her power after the 35km mark, strongly sprinting to the finish line with a time of 2hr 46.44min.

She won her sixth marathon title in the VnExpress Marathon Series, beating her best time of 2:56.06, set at the VnExpress Hà Nội Midnight last month. It was also a new record of the series. Hà came second with 2:48.19, followed by Đoàn Hồng Thanh in 2:54.09.

The men's side saw Long going solo from early in the run, setting a gap of at least 500m to the chasing group which included Đỗ Văn Hoàng, Vũ Đình Duân and Trương Văn Quân, familiar faces on podiums in recent years.

Long maintained his peak performance to win the race in a time of 2:34.29 that was the best result of an amateur runner, beating the old one of 2:37hr.

While his win was predicted, the second finisher Lương Đức Phước was a big surprise to everyone.

The former SEA Games champion in 800m and 1,500m was 'invisible' in the first two hours. He was somewhere in the middle of the large crowd of people,

However, 10km to the finish Phước suddenly made a rocket-speed run, passing a number of marathoners to take the second podium in 2:37.03.

"I didn't think of making such a good time in my first marathon," said Phước. "I hoped I could run in 2:45hr only. This is a strong push for me to set a higher target."

Trịnh Đình An was at third, clocking 2:38.39.

The winner of the men's half marathon was familiar face Nguyễn Trung Cường who raced in 1:10.50, taking his second title in one month.

Lê Văn Thao came second in 1:12.37 and Hà Văn Dược finished third in 1:15.31.

The female champion Trần Dung Hạnh received great applause as she was even faster than male runners.

She crossed the finish line after 1:11.08, being the second fastest of both men and women.

National team Phạm Thị Huệ and Bùi Thị Ngân were second and third, respectively.

In other categories, Sầm Văn Đời and Đoàn Thu Hằng won men's and women's 10km, respectively, while Nguyễn Đình Tuấn and Ngô Thị Khánh Ny respectively took men's and women's 5km classes.

The first VnExpress Marathon in Hải Phòng drew almost 11,000 runners competing for VNĐ1 billion bonus.

The cold weather of the Northern region could not prevent them from setting new personal records. The marathon saw a record of 82 runners completing the marathon distance in under three hours. The previous record was 50 at the Hà Nội Midnight event last month.

Exporters urged to early adapt to European Green Deal

To gain a firm foothold in the European market, Vietnamese enterprises have been advised to soon adapt to the European Green Deal (EGD) to meet new requirements of this choosy market.

According to the Vietnam Chamber of Commerce and Industry (VCCI)’s Centre for WTO and International Trade, in the first 10 months of 2023, Vietnam’s export value to the EU surpassed 36 billion USD.

To achieve sustainable export, it is necessary to have appropriate preparations and be ready to comply with the EGD, which is an urgent requirement for Vietnamese manufacturers and exporters in the coming time, according to experts.

However, a recent survey by the VCCI showed that 88-93% of respondents have never heard or have only briefly heard about the deal.

The EGD, launched in 2020, is a package of policy initiatives aiming to set the EU on the path to a green transition, with the ultimate goal of reaching climate neutrality by 2050.

In fact, since the enforcement of this deal, there have been many green policies that have directly affected foreign goods imported into this region as well as production and export of products from Vietnam to this market.

Accordingly, Vietnam’s exports forecast to be most impacted by the green transition process in the EU in the coming time include electric and electronic products, machinery, equipment and components, farm produce, aquatic products, wood and wooden products, iron and steel, garments, and footwear.

VCCI Vice President Nguyen Quang Vinh said that as regulations on the EGD are diverse, without a common roadmap, Vietnamese businesses need to proactively learn about and understand the regulations and policies which have affected the industries and products so as to have thorough preparations and suitable transition.

Some economists advised businesses themselves to identify difficulties and challenges facing their products caused by EGD regulations so as to accurately grasp and regularly update specific EU green policies related to each type of export to gradually adapt to and ensure compliance with mandatory requirements.

They also stressed the need for the State to issue policies to support enterprises in green industrial development, and those to attract more investment.

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes