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Tag: Vietnam

  • Revolutionizing Trade and Travel: Vietnam’s Inaugural Direct Flight to Amsterdam Set to Soar in June

    Revolutionizing Trade and Travel: Vietnam’s Inaugural Direct Flight to Amsterdam Set to Soar in June

    Vietnam Airlines has announced its intention to initiate the nation’s inaugural direct flight to the Netherlands. The flight will connect Hanoi and Amsterdam and is expected to begin operations in June. Utilizing the wide-bodied Airbus A350, the airline is set to run the service three times weekly, as stated in a recent public release.

    Vietnam Airlines has successfully managed to obtain operating slots at Amsterdam Airport Schiphol, the principal international airport in the Netherlands. Despite ongoing restrictions on capacity, the airline has secured a foothold into this major European gateway.

    The Netherlands holds the position of Vietnam’s top trading partner within Europe. The annual value of exports from Vietnam to this European country surpassed the $11 billion mark in 2025.

    The presence of Dutch enterprises in Vietnam, whose investments are valued at around $16 billion, solidifies the economic ties between the two nations. Additionally, the Netherlands hosts approximately 27,000 Vietnamese individuals who reside and work there, generating a consistent demand for travel between the two countries.

    The yearly passenger traffic between Vietnam and the Netherlands is estimated to be about 122,000. The introduction of this direct flight service will not only cater to this passenger demand but also provide enhanced alternatives for cargo transportation. This is particularly significant for the delivery of high-value exports to Europe.

    Upon launching this new route, Vietnam Airlines will be operating a total of 12 direct routes to Europe, facilitating connections with eight different cities.

    Questions & Answers

    When is Vietnam Airlines planning to launch its direct flight to the Netherlands?
    The direct flight between Hanoi and Amsterdam is set to start operations in June.

    What is the frequency of the planned flight service?
    Vietnam Airlines plans to operate this service three times a week.

    What is the significance of the new direct flight service to the Netherlands?
    The service will not only cater to the consistent travel demand from the approximately 27,000 Vietnamese individuals residing in the Netherlands, but it will also provide improved options for cargo transport, aiding high-value exports to Europe.

  • U.S. Dollar Flexes Strength Against Vietnamese Dong in Unofficial Markets: A Look into Currency Highlights of the Week”

    U.S. Dollar Flexes Strength Against Vietnamese Dong in Unofficial Markets: A Look into Currency Highlights of the Week”

    On Monday morning, the U.S. dollar exhibited an upward trend against the Vietnamese dong on the unofficial market, while maintaining relative stability against other major currencies. The U.S. dollar exhibited a 0.33% increase, reaching approximately VND26,637 at unofficial exchange locations. In contrast, Vietcombank maintained its exchange rate constant at VND26,140.

    Vietnam’s Reference Rate

    The State Bank of Vietnam adjusted its reference rate downward by 0.008%, setting it at VND25,063.

    Global Dollar Index

    Internationally, the U.S. dollar index, an indicator of the U.S. dollar’s value relative to a selection of six currencies, remained static at 97.629 as the week commenced. This week is expected to witness the release of several significant data sets from Washington, including statistics on retail sales, inflation, and the delayed jobs report scheduled for Wednesday.

    Performance of Other Currencies

    The yen experienced a fluctuation, initially declining by 0.3% to hit its lowest value in a fortnight, before strengthening by as much as 0.7%, and then subsequently reducing its gains. In its latest trading, it was 0.3% stronger at 156.76 yen against the dollar.

    Meanwhile, the Australian dollar saw a slight increase of 0.1%, reaching $0.7018. Similarly, the New Zealand dollar also increased by 0.1% to $0.6013. The euro displayed no change, remaining at $1.1818. In contrast, the pound was slightly down by 0.1%, trading at $1.3599.

    Questions & Answers

    What was the performance of the U.S. dollar against the Vietnamese dong on the unofficial market on Monday?

    The U.S. dollar increased by 0.33%, reaching approximately VND26,637 at unofficial exchange locations.

    How did the State Bank of Vietnam adjust its reference rate?

    The State Bank of Vietnam lowered its reference rate by 0.008%, setting it at VND25,063.

    What were some notable changes in the performance of other major currencies?

    The yen initially declined by 0.3%, then strengthened by as much as 0.7%, before reducing its gains. The Australian and New Zealand dollars both saw a slight increase of 0.1%. The euro remained unchanged, while the pound decreased slightly by 0.1%.

  • Vietnam Gold Prices Soar to Record High, Outpacing Global Bullion Rates

    Vietnam Gold Prices Soar to Record High, Outpacing Global Bullion Rates

    The price of gold has seen a notable increase in Vietnam, with a jump recorded on Monday morning. This rise further extends the difference between the local and global bullion rates, establishing a new record.

    Increase in Gold Prices in Vietnam

    Saigon Jewelry Company’s gold bars have seen a 1.06% increase in price, reaching VND181.2 million (US$6,985.08) per tael, equivalent to 37.5 grams or 1.2 ounces. Similar price adjustments have been mirrored by other sellers in the industry.

    At present, the price of local bullion is VND24 million per tael higher than the global prices, marking the most significant difference on record. Notably, the price of gold rings increased at the same rate, reaching VND180.7 million per tael.

    Global Gold and Silver Market Trends

    Internationally, gold and silver have continued to make gains. This comes as the U.S. dollar weakens, making metals priced in the greenback more affordable for international buyers.

    Spot gold increased by 1.4% to $5,029.09 per ounce, following an almost 4% rise on Friday. Concurrently, U.S. gold futures for April experienced a 1.4% gain, reaching $5,051.0 per ounce.

    The U.S. dollar is currently at its lowest level since the 4th of February. In the near future, investors predict at least two 25-basis-point rate cuts in 2026, with the initial cut expected in June. Notably, non-yielding bullion performs well in low-interest-rate environments.

    Questions & Answers

    What percentage increase have gold prices seen in Vietnam?
    Gold prices in Vietnam have seen an increase of 1.06%.

    What is the current price of gold bars from Saigon Jewelry Company?
    The price of gold bars from Saigon Jewelry Company is currently at VND181.2 million (US$6,985.08) per tael.

    How has the U.S. dollar’s performance affected the global gold and silver markets?
    The weakening of the U.S. dollar has made metals priced in the greenback more affordable for international buyers, leading to an increase in the global prices of gold and silver.

  • Vietnam’s Agricultural Exports to China Skyrocket by 66%: Exploring the $1.5 Billion Surge in January

    Vietnam’s Agricultural Exports to China Skyrocket by 66%: Exploring the $1.5 Billion Surge in January

    In January, the exports of agricultural, forestry, and fishery products from Vietnam to China saw a significant increase of 66% compared to the previous year, reaching a total value of US$1.5 billion. China established itself as the largest market for these sectors, contributing to 23% of the total $6.5 billion worth of shipments – a 29.5% rise.

    Key Exports to China

    The primary exports to China included durian, banana, dragon fruit, and jackfruit, with a combined export value of $480 million. China was the leading buyer of Vietnam’s cassava, accounting for 92.6% of purchases. It also purchased 75% of Vietnam’s rubber and 50% of its cashew exports. The country was the third-largest market for Vietnam’s fishery products, following the U.S. and Japan.

    Growth in Fruit and Vegetable Exports

    According to the Ministry of Agriculture and Environment, the highest export growth was seen in the fruits and vegetables sector. The export value of these products doubled to $750 million, with marked increases in shipments going to the U.S. and Malaysia.

    Rise in Cashew and Pepper Exports

    Cashew exports were the second-highest growth category, with an increase of 70% that brought the total export value to $434 million. Pepper exports also saw a significant boost, rising by 53% to reach $133 million.

    Questions & Answers

    What was the percentage increase in Vietnam’s exports to China year-on-year in January?
    The exports of agricultural, forestry, and fishery products from Vietnam to China rose by 66% year-on-year in January.

    Which were the main products exported by Vietnam to China?
    The main exports to China were durian, banana, dragon fruit, and jackfruit, along with cashew, rubber, and cassava.

    Which products saw the highest growth in exports?
    Fruits and vegetables saw the highest export growth, doubling to $750 million. The second-highest growth was seen in cashew exports, which rose by 70% to $434 million.

  • Vietnam’s Gold Prices Take a Dip Amid Global Bullion Rise: Market Watch

    Vietnam’s Gold Prices Take a Dip Amid Global Bullion Rise: Market Watch

    On Friday, gold prices in Vietnam experienced a dip while global bullion prices noted a hike. The price of a gold bar from the Saigon Jewelry Company witnessed a decrease of 1.01%, bringing its value down to VND175.4 million (US$6,757.33) per tael. Each tael weighs 37.5 grams or 1.2 ounces. This price adjustment was reflected among other sellers in the market.

    In the past two days, local bullion prices have seen a decline of 2.66%, standing at VND20 million more per tael than their international equivalents. However, the price of gold rings increased by 0.23%, bringing its cost to VND174.9 million per tael.

    Global Gold Market Dynamics

    Globally, the gold market managed to recover from its early losses on Friday. However, it is expected to report a consecutive weekly decrease as a result of the global tech equity rout and a strengthened U.S. dollar, which have overshadowed the gains the metal experienced during an initial recovery earlier this week.

    Spot gold experienced a 0.4% increase, reaching $4,790.80 per ounce. Despite this, it recorded a 1.4% decrease for the week. Meanwhile, U.S. gold futures set for April delivery witnessed a 1.7% decline, dropping to $4,806.50 per ounce.

    According to Ilya Spivak, head of global macro at Tastylive, “Risk appetite appears to be diminished as stocks are down, and we’re noticing a significant breakdown in Bitcoin. These factors indicate a general weakening of risk sentiment. In such a scenario, while gold is proving resilient, silver is succumbing to the risk-off environment.”

    The US Dollar Performance

    The U.S. dollar remained steady near a two-week high and is expected to record its strongest weekly performance since November. A stronger dollar elevates the cost of greenback-priced assets for holders of other currencies.

    Questions & Answers

    What was the decline in the price of gold in Vietnam?
    The price of a gold bar from the Saigon Jewelry Company decreased by 1.01%, reducing its value to VND175.4 million per tael.

    How did global gold prices perform?
    Despite recovering from early losses and rising by 0.4%, spot gold was down by 1.4% for the week.

    What effect does a stronger U.S. dollar have on greenback-priced assets?
    A stronger U.S. dollar makes greenback-priced assets more expensive for holders of other currencies.

  • Vietjet Boosts Fleet with 44 Pratt & Whitney-Powered Airbus A320neos: A Stride Towards Fuel Efficiency

    Vietjet Boosts Fleet with 44 Pratt & Whitney-Powered Airbus A320neos: A Stride Towards Fuel Efficiency

    Vietjet Air recently revealed its partnership with Pratt & Whitney, an international leader in the production and servicing of aircraft engines, to supply its 44 Airbus A320neo airliners with Geared Turbofan (GTF) engines. This new order brings the total number of GTF-powered aircraft ordered by Vietjet to 137.

    Order Details

    The new order comprises 24 A321neo and 20 A321XLR aircraft. The first batch of deliveries is slated to begin in July 2026. Besides supplying the GTF engines, Pratt & Whitney has pledged to offer Vietjet engine maintenance services under a 12-year EngineWise comprehensive maintenance plan.

    “The GTF engine is powering our growth with industry-leading operating economics and fuel efficiency of up to 20% lower than earlier aircraft,” commented Vietjet’s managing director Nguyen Thanh Son.

    In 2018, Vietjet received its initial A321neo aircraft. Currently, the airline operates 42 A321neo aircraft, all powered by GTF engines. The airline’s future plans include outfitting a total of 93 aircraft in its fleet with this specific engine variant.

    Benefits and Commitments

    Rick Deurloo, the president and chief commercial officer of Pratt & Whitney, acknowledged that the latest order would allow Vietjet to fully leverage the merits of one of the most efficient engines for single-aisle aircraft. He also reiterated Pratt & Whitney’s enduring commitment to assisting the airline’s network expansion.

    Compared to previous-generation engines, the GTF engine slashes fuel consumption by up to 20% and noise levels by 75%. To date, over 2,600 GTF-powered aircraft have been delivered to more than 90 customers around the world.

    Network Expansion

    Vietjet currently manages an extensive Asia-Pacific network, connecting Vietnam and Thailand with locations in Australia, India, Kazakhstan, China, Japan, and the Republic of Korea. The airline has plans for a steady expansion towards Europe.

    Questions & Answers

    What is the significance of the new order with Pratt & Whitney?
    The new order will allow Vietjet to achieve maximum fuel efficiency and reduced noise levels, making it one of the most efficient engines for single-aisle aircraft.

    What are the future plans of Vietjet regarding the use of GTF engines?
    Vietjet intends to equip a total of 93 aircraft in its fleet with GTF engines, extending the benefits of fuel efficiency and reduced noise levels across its operations.

    How does the GTF engine compare to previous generation engines?
    Compared to its predecessors, the GTF engine can reduce fuel consumption by up to 20% and noise levels by 75%, making it a more efficient and environmentally friendly option.

  • Thailand Sparkles as Southeast Asia’s Gold Demand Hotspot, Dethrones Vietnam

    Thailand Sparkles as Southeast Asia’s Gold Demand Hotspot, Dethrones Vietnam

    In 2025, Thailand outperformed all Southeast Asian nations in the purchase of gold bars and coins, signaling a surge in demand. According to the World Gold Council, total purchases in the country amounted to 51.4 tonnes, which represented approximately 36% of the region’s overall demand. This significant uptake in gold was the highest the country had seen in seven years, valued at over US$6 billion. As a result, Thailand surpassed Vietnam, the previous leading gold market in the region, which had recorded a demand of 42.1 tonnes in 2024.

    Regional Uptake of Gold

    Collectively, five prominent Southeast Asian gold markets witnessed a more than 15% surge in the purchase of bars and coins last year. The total demand reached a new nine-year high at 139 tonnes. Vietnam trailed Thailand, securing second place with a demand of 36.1 tonnes. However, it was the sole country to report a downturn in gold sales, with a 14% decrease.

    During the last quarter of 2025, Vietnam’s gold trading shrank for the sixth consecutive quarter, hitting its lowest point in almost half a decade. Supply shortages were identified as a principal reason for this downturn. The country experienced a scarcity of gold bars and a sudden increase in 24K ring demand, causing prices to escalate dramatically and widen the disparity with international rates. Consequently, Vietnam’s gold prices soared by 81% in the previous year and 13.5% in the current year.

    Regional Gold Demand

    Despite these circumstances, Thailand and Vietnam combined accounted for two-thirds of Southeast Asia’s gold demand. The third highest demand was from Indonesia, which saw a 29% surge in sales to 31.6 tonnes, marking an unprecedented volume in 12 years.

    Malaysia claimed the fourth position, with a demand increase of 37% to 10.3 tonnes, likewise a 12-year record. Singapore, ranking fifth, marked the most significant growth in the region at 48%, with a record volume of 9.6 tonnes sold.

    Globally, the demand for gold bars and coins reached 1,374 tonnes or $154 billion. China and India consistently remained the two primary gold markets. There was a 28% rise in demand for gold bars and coins in China in 2025 compared to 2024, while India registered a 17% increase during the same period. Together, these two nations represented more than half of the total global demand for bars and coins.

    Questions & Answers

    Which country led Southeast Asia in gold demand in 2025?
    Thailand led Southeast Asia in gold demand in 2025, with purchases totaling 51.4 tonnes.

    What factors contributed to the decline in Vietnam’s gold trading?
    A shortage in the supply of gold bars and an increase in demand for 24K rings were key factors that contributed to the decline in Vietnam’s gold trading.

    Which countries were the two largest global markets for gold in 2025?
    China and India were the two largest global markets for gold in 2025, accounting for more than half of the total global demand for bars and coins.

  • Experiential Retail: The Resilient Future Of Physical Stores Amidst E-commerce Surge

    Experiential Retail: The Resilient Future Of Physical Stores Amidst E-commerce Surge

    Despite the rise of e-commerce, physical retail continues to retain a strong appeal among consumers. According to Savills latest survey of its global expert network on occupier outlooks, physical retail is proving resilient with responses leaning 65% towards anticipating rental growth, 26% forecasting stable rents, and 9% anticipating declines; a clear shift from previous years. In 2024, only half of the experts polled projected rising rents, and one in five expected rental decreases.

    Sarah Brooks, Associate Director, Savills World Research, stated that across Asia Pacific, India, Malaysia and Viet Nam are expected to see robust retail rent rises and improved take-up. These markets benefit from rapidly increasing consumer affluence, growing tourism and an influx of international brands. In addition, the supply of high-quality retail space has not kept pace with demand, pushing vacancy rates down and driving competition.

    Experiential retail as a key growth driver

    According to Matthew Powell, Director of Savills Ha Noi, Viet Nam has a distinctive traditional market culture, where grocery stores and physical retail spaces are essential in daily life. Retail spaces are not just transactional; they also provide connection and community building. As such, retail stores will continue to maintain a significant presence in the market.

    In this context, experiential retail has become a key strategy for shopping centres seeking to remain competitive. By shifting the focus from purchasing to experience-led environments that are engaging, such as interactive stores, pop-ups, workshops, and curated F&B concepts, it creates compelling reasons for visitors to stay longer, return more often, and ultimately drive footfall beyond products alone.

    The importance of this shift has increased as online channels continue to change consumer behaviour. Physical retail can no longer rely solely on product offerings, especially in Viet Nam, as Gen Z and Millennials account for 60–70% of urban mall traffic and care more about discovery, interaction and social engagement.
    According to research conducted by Censuswide, 62% of Gen Z consumers and 68% of Millennials believe that luxury is defined not only by the product but also by the experience. This shift in consumer expectations is reshaping how shopping centres operate and select tenants, with operators moving beyond occupancy-led strategies to curate tenant mixes that enhance the overall customer experience.

    Tenant selection is therefore no longer based only on brand names or rental levels, but also on a brand’s ability to encourage interaction, create immersive experiences, and match lifestyle expectations.

    Looking ahead, the future of physical retail is experiential. In markets such as Viet Nam, where consumption, tourism, and lifestyle spending continue to grow, shopping centres that embrace experiential retail will not only remain relevant but strengthen their role as community and commercial hubs, supporting long-term value for occupiers and investors alike.

  • Vietjet Announces One-day-only 30% Discount On Deluxe Fares For 2026 Travel

    Vietjet Announces One-day-only 30% Discount On Deluxe Fares For 2026 Travel

    Vietjet is welcoming the New Year with a one-day-only 30% discount on Deluxe fares across all domestic and international routes on 15 January 2026, giving travellers in Singapore the perfect opportunity to plan their 2026 Vietnam adventures—whether it’s a beach escape to Phu Quoc or Da Nang, or a city break in Hanoi, Ho Chi Minh City, and more at affordable prices.

    From 01:00 on 15 January to 00:00 on 16 January (GMT+8), travellers booking Deluxe tickets via www.vietjetair.com or the “Vietjet Air” mobile app can enjoy 30% off base fares (excluding taxes and fees) by entering the promo code DELUXE2026. The offer applies to flights operated from 1 February to 31 December 2026 (Travel periods may vary by route and blackout dates apply), giving travellers plenty of time to plan ahead for holidays, long weekends, and year-end trips.

    Designed for added comfort and flexibility, Vietjet’s Deluxe fare includes 20kg of checked baggage, free seat selection, free itinerary changes, and other value-added benefits (terms and conditions apply).

    Vietnam continues to be a favourite year-round destination for global travellers, offering a vibrant mix of culture, cuisine and landscapes. From Hanoi’s vibrant streets and ancient cultural heritage to Ho Chi Minh City’s electric energy, to the misty mountain splendours of Ha Giang, Sa Pa, and the pristine beaches of Da Nang, Phu Quoc, and Nha Trang, the country weaves an irresistible tapestry of world-class cuisine, rich traditions, stunning nature, and genuine hospitality.

    Onboard, passengers can enjoy fresh, hot Vietnamese favourites such as Pho, Banh Mi, and Vietnamese iced milk coffee, alongside a selection of international options, served by Vietjet’s professional and attentive cabin crew on a new, modern fleet.

  • Vietnam’s Motorbike Market Accelerates, Topping Southeast Asia with Electric Bike Boom

    Vietnam’s Motorbike Market Accelerates, Topping Southeast Asia with Electric Bike Boom

    The Vietnamese motorcycle market experienced a significant expansion of 14.9% in the previous year, marking the most substantial growth rate within Southeast Asia. This surge was, in part, propelled by a substantial increase in sales of electric motorcycles.

    Vietnam reportedly sold 3.4 million units, positioning it as the second-largest market in the region, with Indonesia leading at 6.5 million units. This sales volume also marks Vietnam as the fourth largest global motorcycle market and the third largest market for electric motorcycles.

    Reshaping the Two-Wheeler Market

    The landscape of the motorcycle market in Vietnam is undergoing a significant transformation due to investments in electric two-wheelers. This shift is not only fueled by China’s major manufacturers but also by domestic producers.

    In parallel with this market transformation, a mature market is also experiencing growth, characterized by discerning consumer demand and steadfast brand loyalty. Honda, in particular, continues to enjoy a strong consumer base.

    Adopting Electric Vehicles Amid Environmental Policies

    The adoption of electric vehicles is accelerating in response to strict environmental policies. A notable factor expediting this shift towards electrification is the announcement by Hanoi authorities of a prohibition on internal combustion engine vehicles by July 2026.

    Pressure on Traditional Manufacturers

    Traditional motorcycle manufacturers are increasingly feeling the heat from specialists in electric scooters. Honda, a market leader for over seven decades, reported a meager growth of 1.3%. Their long-standing competitor, Yamaha, experienced a decline of 17.3%, subsequently losing its second-place standing.

    Interestingly, VinFast, a domestic electric mobility brand, has claimed the second spot, with a remarkable 532% growth. This development underscores the swift rise of domestic electric mobility.

    Several other players focused on electric models are also reporting robust growth. China’s Yadea, for example, has seen a 61.6% increase. Local manufacturers Pega and Dibao reported growth rates of 60% and 75% respectively, ranking them fourth, fifth, and sixth.

    Questions & Answers

    What was the growth rate of the Vietnamese motorcycle market last year?
    The Vietnamese motorcycle market grew by 14.9% last year, the highest growth rate in Southeast Asia.

    What are some factors that are reshaping the motorcycle market in Vietnam?
    Investments in electric two-wheelers by both domestic and Chinese manufacturers are significantly reshaping the Vietnamese motorcycle market.

    What is the impact of environmental policies on the adoption of electric vehicles in Vietnam?
    Tightening environmental policies, such as Hanoi’s ban on internal combustion engine vehicles from July 2026, are accelerating the adoption of electric vehicles in Vietnam.

  • Vietnam: The Lone Decline in Southeast Asia’s 2025 Gold Rush Amidst Supply Shortages

    Vietnam: The Lone Decline in Southeast Asia’s 2025 Gold Rush Amidst Supply Shortages

    In 2025, Vietnam stood out as the sole Southeast Asian nation to experience a decline in its sales of gold bars and coins. The volume experienced a 14% decrease from the previous year, falling to 36.1 metric tons, in spite of robust consumer interest.

    Gold Trading Contraction in Vietnam

    The World Gold Council has reported a consistent contraction in Vietnam’s gold trading for six consecutive quarters up until the end of 2025, landing at a near-five-year low. A primary factor contributing to this downward trend has been identified as short supply.

    Shortages in the supply of gold bars and a sudden surge in the demand for 24K rings induced a sharp increase in prices. This caused a significant divergence from global rates, with bullion prices experiencing a rise of 81% in the previous year and 25% in the current year.

    Comparison with Other ASEAN Countries

    Contrastingly, most of the ASEAN member countries experienced a surge in demand for bars and coins, reaching multi-year highs. Thailand was the regional leader in terms of gold bar and coin purchases, boasting a 29% increase at 51.4 tons. Indonesia, Malaysia, and Singapore also reported growth of 29%, 37%, and 48% respectively.

    The State Bank of Vietnam has highlighted the fact that Vietnam is not a gold-producing country and primarily relies on imports, which lends itself to a restricted supply given foreign currency is typically reserved for more pressing needs.

    In the previous year, the government made the decision to permit private gold producers who meet specific capital requirements to operate. However, up until now, no licenses have been issued.

    Global Gold Demand

    On a global scale, gold demand experienced a 1% rise to reach 5,002 tons, setting a new record. This is largely attributed to the continuous geopolitical and economic uncertainty, which has led investors to seek refuge in this safe-haven metal.

    Questions & Answers

    Why did Vietnam experience a drop in gold bar and coin sales in 2025?
    The significant decline in sales is attributed to supply shortages, despite strong consumer demand.

    How did other ASEAN member countries fare in comparison to Vietnam?
    Contrary to Vietnam, most ASEAN member countries, including Thailand, Indonesia, Malaysia, and Singapore, saw a surge in demand for gold bars and coins, reaching multi-year highs.

    What measures has the Vietnamese government taken to address the issue of gold supply?
    The government has granted permission to private gold producers meeting certain capital requirements to operate, in an effort to address the issue of gold supply. However, as of now, no licenses have been issued.

  • Vietnam Fuel Prices Skyrocket to Yearly High Amid Global Market Shifts

    Vietnam Fuel Prices Skyrocket to Yearly High Amid Global Market Shifts

    Gasoline prices in Vietnam witnessed a significant surge on Thursday afternoon, marking their highest point since the beginning of the year. The commonly used fuel, RON95, experienced a hike of 1.13%, bringing its price up to VND18,840 (US$0.72) per liter.

    Biofuel E5 RON92 also experienced a price increase, albeit a more modest one. Its price rose by 0.27%, leaving it at VND18,330 per liter. Diesel, a critical fuel for many industries, saw a noteworthy increase of 2.66%, pushing its price to VND18,170 per liter.

    Several global factors have been cited as driving forces behind these price changes. The international fuel market has been affected by geopolitical tensions, particularly between the U.S. and Iran. In addition to this, the United States has seen a more substantial-than-anticipated dip in its oil inventories. Coupled with a weakening U.S. dollar, these factors have put pressure on global fuel prices, as noted by the Ministry of Industry and Trade.

    In terms of international prices, RON95 saw an increase of 1.7%, which pushed its price to $73.6 per barrel. Diesel’s price also witnessed a significant uptick, with an additional 3.4%.

    Questions & Answers

    What was the price increase for the commonly used fuel RON95 in Vietnam?
    RON95 experienced a price hike of 1.13%, which increased its price to VND18,840 (US$0.72) per liter.

    What global factors have influenced the recent surge in fuel prices?
    Several global factors, including geopolitical tensions between the U.S. and Iran, a substantial decline in oil inventories in the U.S. more than anticipated, and a weakening U.S. dollar have contributed to the increase in fuel prices.

    How has the price of Diesel changed?
    Diesel witnesses a significant price increase of 2.66%, leaving its price at VND18,170 per liter.

  • Vietnam’s VN-Index Plunges: Longest Losing Streak in Seven Years Sparks Market Concern

    Vietnam’s VN-Index Plunges: Longest Losing Streak in Seven Years Sparks Market Concern

    The VN-Index of Vietnam, which is the country’s benchmark index, experienced a decline for the seventh consecutive session on Wednesday. This represents the most extended losing streak since 2018’s final quarter. The VN-Index wrapped up the session at 1,802.91, marking a decrease of 1.51% or 27.59 points. From the beginning of the previous week, the index underwent a loss of 100 points.

    Trade Volume Increase and Major Price Movements

    A significant increase of 34% was recorded in the trading volume on the Ho Chi Minh Stock Exchange, reaching VND33.7 trillion (equivalent to US$1.29 billion).

    The VN-30 basket, which is a compilation of the 30 most significant capped stocks, witnessed a fall in 16 tickers. The VIC ticker of the private conglomerate Vingroup reached its lowest price point.

    In the realm of retail real estate, Vincom Retail’s VRE experienced a decrease of 5.8%, while the VHM of property titan Vinhomes suffered a reduction of 5.7% in its closing price.

    On the more positive side, eleven blue-chip stocks recorded gains. Among them, MSN of the Masan Group conglomerate saw a rise of 3.7%, FPT of tech powerhouse FPT Corporation increased by 2.4%, and GAS of the state-owned Petrovietnam Gas experienced a boost of 2.3%.

    Foreign Investor Activity and Other Indexes

    Foreign investors ended up as net sellers, with a net selling volume reaching VND1.78 trillion. This selling activity mainly targeted HDB of HDBank and ACB of Asia Commercial Bank.

    Taking a look at other indexes, the HNX-Index, associated with stocks on the Hanoi Stock Exchange, which mainly includes mid and small cap stocks, recorded a fall of 0.15%. Meanwhile, the UPCoM-Index, representing the Unlisted Public Companies Market, saw an increase of 0.62%.

    Questions & Answers

    What is the VN-Index?
    The VN-Index is a benchmark index in Vietnam that represents the performance of the country’s stock market.

    Which stocks experienced a price decrease?
    The VIC of Vingroup, VRE of Vincom Retail, and VHM of Vinhomes were among the stocks that saw a decrease in price.

    Which stocks saw a price increase?
    Among the stocks that recorded a price increase were MSN of the Masan Group, FPT of FPT Corporation, and GAS of Petrovietnam Gas.

  • Waning Dollar Takes a Dive Against Vietnamese Dong Amid Global Currency Shifts

    Waning Dollar Takes a Dive Against Vietnamese Dong Amid Global Currency Shifts

    The US dollar experienced a dip in value against the Vietnamese dong on Monday, hovering around a four-month low in comparison to major currencies. Vietcombank listed a slight decrease of 0.05% over the weekend in the exchange rate of the US dollar, trading at VND26,368. The black market, on the other hand, observed a marginal increase of 0.12%, with the dollar being exchanged approximately around VND26,447.

    Global Currency Market Scenario

    The currency market worldwide witnessed the yen gaining strength on Monday, which subsequently led to a lower valuation of the dollar across various markets. This development has emerged amidst speculations over potential risks of the first joint US-Japan currency intervention in 15 years, which has kept investors on their toes.

    The US dollar index, a tool for measuring the strength of the US dollar against six major currencies, saw a decline of 0.1%, bringing it dangerously close to a four-month low, at 97.082.

    The yen appreciated as much as 1.2%, reaching 153.89 per dollar, its highest value since November. Concurrently, the euro also made strides, hitting a four-month high of $1.1898 and later settling at an increase of 0.4% at $1.18665.

    Other Currency Movements

    In addition to these movements, the British pound sterling also saw a slight increase of 0.1% to reach $1.36615. Meanwhile, the Australian dollar and the New Zealand dollar appreciated by 0.3% and 0.2% to touch $0.69165 and $0.59605 respectively.

    According to Marc Chandler, chief market strategist at Bannockburn Capital Markets in New York, the dollar was already vulnerable to fluctuations. However, the increase in the yen’s value served as the catalyst for market-wide selling of the dollar.

    Questions & Answers

    What was the exchange rate of the US dollar in Vietcombank and the black market?
    The US dollar was traded at VND26,368 in Vietcombank, marking a 0.05% decrease. Conversely, on the black market, it saw a 0.12% increase, being traded around VND26,447.

    What triggered the market-wide selling of the US dollar?
    The primary trigger for the market-wide selling of the US dollar was the rising strength of the yen, according to Marc Chandler, chief market strategist at Bannockburn Capital Markets in New York.

    What changes did other major currencies witness?
    The yen rose by 1.2% to 153.89 per dollar, the euro increased by 0.4% to $1.18665, the British pound sterling increased by 0.1% to $1.36615, the Australian dollar increased by 0.3% to $0.69165, and the New Zealand dollar increased by 0.2% to $0.59605.

  • Record-Breaking Silver Prices in Vietnam Surge Amid Global Safe-Haven Demand

    Record-Breaking Silver Prices in Vietnam Surge Amid Global Safe-Haven Demand

    On Monday morning, silver prices in Vietnam hit an all-time high as global demand for safe-haven assets surged. The price of Phu Quy silver jumped 6% to VND4.24 million (US$162) per tael, equivalent to VND112.8 million per kilogram.

    Silver Prices Surge in Vietnam

    Since the start of the year, the cost of this white metal in Vietnam has seen an increase of 35%. This rise parallels a global trend, where the price of spot silver increased by 4.57% to $107.65 per ounce. This sharp increase comes after it hit an unprecedented high of $108.60 per ounce. The escalation can be attributed to investors seeking refuge in safe-haven assets due to escalating geopolitical uncertainties.

    Silver Crosses the $100 Mark

    On Friday, silver prices exceeded the $100 mark for the first time ever. This rise builds on last year’s significant increase of 147%. The astounding growth is a result of an influx of retail investors and momentum-driven purchases, exacerbating a longstanding period of scarcity in the physical markets for silver.

    Questions & Answers

    What is a safe-haven asset?
    A safe-haven asset is a type of investment that is expected to hold or increase its value during market turbulence. These assets are typically sought after by investors to limit their exposure to losses during market downturns.

    What caused the surge in silver prices in Vietnam?
    The surge in silver prices in Vietnam can be attributed to an increase in global demand for safe-haven assets, as well as geopolitical uncertainties.

    What factors contributed to silver prices crossing the $100 mark?
    The surge beyond the $100 mark was driven by an influx of retail investors and momentum-driven purchases, which intensified an already present scarcity in the physical markets for silver.