He said Vietnam’s stock market will be encouraged by a slight earning per share growth rate of 10 – 12 percent in 2019. However, this rate is still lower than in previous years, so the market is unlikely to grow strongly this year.

The motorcycle assembly factory of Honda Vietnam in Vinh Phuc province.

He forecast a bright prospect for the country’s economy in 2019 with positive foreign direct investment (FDI) inflow as manufacturers will come to Vietnam to supply products to mobile phone producer Samsung or car maker Vinfast and avoid the trade war’s impact.

The economy is likely to gain a trade surplus as exports are predicted to increase more sharply than imports. Meanwhile, the Vietnamese dong will stay stable as the central bank has abundant forex reserves and US dollar supply and demand is not too tense thanks to trade and fiscal surplus, Ho said.

FDI capital continued to flow into the country in 2018, helping keep the Vietnamese currency stable and stimulate domestic consumption, he said, adding that data of the State Bank of Vietnam showed in the first quarter of 2018, foreign investors poured nearly 650 million USD of indirect investment through purchasing shares of or contributing capital to local businesses, rising fivefold year on year.

The VinaCapital director said Vietnam will continue to attract FDI in 2019 thanks to competitive labor costs, improved labor quality and the proximity to supply chains of regional manufacturers.

Notably, the US-China trade tension is also considered a stimulus for the redirection of the FDI inflow from China and some other markets to Vietnam, he added.

US-based investment fund invests in Organica Vietnam

The Small Enterprise Assistance Funds (SEAF) Women’s Opportunity Fund (SWOF) and Organica Investment JSC signed a cooperation agreement in Ho Chi Minh City on January 9 to develop organic food production and trade. 

 

Vietnam, Bulgaria boost trade, investment

The Vietnam-Bulgaria Trade Promotion and Investment Centre has opened in Hanoi recently, improving conditions for Vietnamese businesses to boost investment and exports to Bulgaria as well as accessing other EU markets.

 

Bac Giang continues improving investment climate

(BGO) - In 2018, Bac Giang province granted investment registration certificates for 107 domestic investment projects with registered capital of 1,920 billion VND (82.7 million USD) and 63 foreign direct investment (FDI) projects valued at 166 million USD. Besides, the local authority has given a nod to increasing the capital for 50 investment projects up to 336 million USD.

 

Vietnam becomes Asia’s hottest investment destination: Forbes

An article published by US magazine Forbes has recently considered Vietnam as the hottest investment destination in Asia.

 

RoK’s Lotte Group wants to expand investment in Hanoi

Chairman of the Hanoi People’s Committee Nguyen Duc Chung had a working session on December 3 with the Republic of Korea’s Lotte Chairman Shin Dong-bin on the group’s business results in 2018 and its plan to expand investment in the capital city in the time to come.

 

Source: VNA