Latest news with #HANOI
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
Vietnamese stocks near record on reform hopes, trade deal optimism
Foreign investors bought US$411 million of Vietnamese shares on a net basis in July, the second month of inflows this year. (EPA Images pic) HANOI : Vietnam's stock benchmark is closing in on a record high, fueled by optimism over sweeping political reforms and clarity on a trade deal with the US. The government is undertaking its biggest administrative overhaul in decades to shrink bureaucracy as Prime Minister Pham Minh Chinh pushes for more than 8% economic growth this year. A trade deal that cut US tariffs on the nation's goods to 20% from 46% in April also clears an overhang for the market. The moves have driven a 19% rally in the Vietnam Ho Chi Minh Stock Index this year, putting the market well ahead of its Southeast Asian peers. More gains could follow if Vietnam secures an upgrade to emerging-market status by FTSE Russell. 'Never before have we seen such strong reforms in Vietnam,' said Tyler Manh Dung Nguyen, chief market strategist at Ho Chi Minh City Securities Corp. 'I would allocate more in Vietnam right at the beginning of these changes,' he said. The government is cutting red tape and unnecessary costs to redirect funds to development projects, part of its aim to achieve high-income status by 2045. Its pro-growth policies are luring investors back to the country, reversing sentiment after global funds withdrew a net US$3.18 billion from local stocks last year. Foreign investors bought US$411 million of Vietnamese shares on a net basis in July, the second month of inflows this year, while selling their holdings in Malaysia, Indonesia and the Philippines. Conglomerate Vingroup JSC, lender Vietnam Joint Stock Commercial Bank for Industry and Trade and Hoa Phat Group JSC are among the biggest gainers on the index this year as investors bet on major beneficiaries of the country's strong growth. The economy expanded 7.52% in the six months through June, according to Vietnam's statistics office, supported by a surge in manufacturing as foreign buyers raced to avoid higher tariffs on sales to the US. 'We became more positive since May as valuations started to look compelling given the forecast earnings growth of about 15% and price-earnings multiples of 10 times in 2026,' said Christopher Leow, CEO at Principal Asset Management in Singapore. Investors are expecting a FTSE reclassification of Vietnam's market to take place as soon as September, which the index compiler projects may draw up to US$6 billion in capital inflows. That would give another boost to the benchmark, which is less than 2% away from its all-time high in January 2022. To be clear, Vietnam's growth outlook remains clouded by a potential slowdown in global growth in the second half of the year. Uncertainty over a 40% US tariff on goods deemed to be transshipped through the Southeast Asian nation also weighs on local businesses. Still, the bullish case for Vietnam is hard to ignore. 'What makes Vietnam stand out globally is that it's almost inconceivable it won't become a much bigger economy' and returns on invested capital are much higher than in many other countries, said Johannes Loefstrand, portfolio manager at T Rowe Price who manages a frontier markets fund with its largest allocation in Vietnam.
Washington Post
3 days ago
- Climate
- Washington Post
Storm Wipha hits northern Vietnam with strong winds and heavy rain
HANOI, Vietnam — Tropical Storm Wipha made landfall in northern Vietnam on Tuesday, bringing strong winds and heavy rain to parts of the country's north and central regions. The storm came ashore at 10 a.m. with sustained winds of 64–102 kilometers per hour (40–63 mph), and gusts up to 138 kph (86 mph), according to local weather officials. After landfall, it began moving southwest.
Associated Press
4 days ago
- Climate
- Associated Press
Vietnam races to prepare for Typhoon Wipha as Philippines suffers storm deaths
HANOI, Vietnam (AP) — Vietnam braced for Typhoon Wipha on Monday as coastal provinces were placed on emergency alert and airlines canceled flights ahead of the storm's expected landfall early Tuesday. The typhoon is forecast to bring powerful winds and heavy rainfall, raising the risk of flash floods and landslides in northern Vietnam's mountainous areas and flooding in urban centers, including Hanoi. 'This is a very strong storm, moving fast, with a wide and dangerous impact on both land and sea,' Vietnam Prime Minister Pham Minh Chinh said in a directive to government agencies. He ordered all fishing boats, cargo ships and tourist vessels to return to shore and urged the evacuation of people in high-risk areas. The storm has already proved deadly in the Philippines, where it intensified monsoon rains and killed at least three people over the weekend, including one who drowned and two others struck by falling trees. Philippine officials were checking reports of three more deaths, while seven people, including two children, remained missing. Floods, landslides and debris affected over 800,000 people, with about 90,000 forced to evacuate, authorities said. Hundreds of cruise ships have anchored in Vietnam's Ha Long Bay after authorities suspended all tourist boat services due to the storm. A tourist boat capsized there during a thunderstorm over the weekend, ahead of the typhoon's arrival, killing at least 37 people. Ongoing bad weather is expected to complicate the search for the missing. National carrier Vietnam Airlines and its affiliate Pacific Airlines canceled at least nine domestic flights on Monday, with more delays expected. Budget airline Vietjet canceled 12 flights including international routes to South Korea. Local authorities have deployed rescue crews and stocked food and medical supplies while working to secure telecommunications infrastructure. State media reported nearly 150,000 hectares (370,658 acres) of aquaculture farms and more than 20,000 floating fish cages could be at risk from flooding and high winds. Emergency warnings have been sent to millions of residents by text message. Forecasters expect Wipha to make landfall between Hai Phong and Thanh Hoa provinces early Tuesday, with wind gusts reaching up to 166 kilometers (103 miles) per hour. Vietnam is no stranger to tropical storms. But climate experts said such storms were getting stronger due to global warming since warmer ocean waters provide more energy to fuel the storms. This results in increased wind speeds and heavier rainfall. Last year, Typhoon Yagi killed about 300 people and caused $3.3 billion in damage, reducing GDP growth by 0.15%. ___ Jim Gomez in Manila, Philippines, contributed to this report. ___ Associated Press climate and environmental coverage receive support from several private foundations. See more about AP's climate initiative here. The AP is solely responsible for all content.
Washington Post
4 days ago
- Climate
- Washington Post
Vietnam races to prepare for Typhoon Wipha as Philippines suffers storm deaths
HANOI, Vietnam — Vietnam braced for Typhoon Wipha on Monday as coastal provinces were placed on emergency alert and airlines canceled flights ahead of the storm's expected landfall early Tuesday. The typhoon is forecast to bring powerful winds and heavy rainfall, raising the risk of flash floods and landslides in northern Vietnam's mountainous areas and flooding in urban centers, including Hanoi.
Zawya
7 days ago
- Business
- Zawya
F88 earns Gold Level Certification for Client Protection
HANOI, VIETNAM - Media OutReach Newswire - 18 July 2025 - F88, a pioneer in Việt Nam's alternative finance sector, has once again affirmed its leadership position by being awarded the Gold Level Certification for Client Protection by M-CRIL. This marks the third time F88 has received this prestigious honour since 2019, and the second consecutive year it has achieved the highest possible rating. The achievement highlights F88's deep and ongoing commitment to building a transparent, sustainable financial ecosystem that puts customers first. Issued by M-CRIL and developed in collaboration with globally recognised organisations Cerise+SPTF, the Client Protection Certification (CPC) is one of the most comprehensive and demanding assessments in the financial services sector. It evaluates how well institutions uphold international standards in client protection, requiring excellence in areas ranging from product design and customer communication to data security and corporate governance. F88's Compliance with M-CRIL Principles To achieve Gold Certification, financial institutions must comply with eight standards, 26 essential practices and over 128 indicators, meeting a minimum compliance rate of 95 per cent and avoiding any disqualifying breaches. F88 surpassed these benchmarks with an impressive 98.3 per cent compliance score, demonstrating the strength of its internal systems and customer-first strategy. This success is not accidental. It stems from a clearly defined and responsibly executed development strategy focused on customer needs and protection. By creating tailored financial solutions to ensure better access to capital and standardising all product information with transparent, easy-to-understand language, F88 has embedded customer care into every step of its operations. The company also commits to a responsible pricing policy, ensuring interest rates and fees are fairly determined and reflective of the services provided. Data protection remains a top priority at F88. Customer data is collected only with explicit consent, securely stored and managed under strict internal controls. This information is then used to fairly assess creditworthiness, helping minimise financial risk for both parties while avoiding over-indebtedness for the customer. Throughout its operations, F88 consistently upholds fairness and integrity. Customers from all backgrounds, including vulnerable groups, receive equal access to financial services. The company adheres to a core principle of 'do no harm', ensuring that all decisions — from product offerings to debt restructuring — are made with the customer's best interest in mind. F88 has also developed a robust, multi-channel feedback and complaint resolution mechanism that allows customers to express concerns easily and expect swift resolution. The company currently resolves over 99 per cent of complaints within 30 days, a figure that reflects not only operational efficiency, but also a strong culture of listening and learning. Underpinning all of this is F88's solid governance structure. With clear internal policies, a strong credit risk management framework and ongoing ethics training for its staff, the company ensures that its team consistently delivers responsible and professional service. Real impact: Earning customer trust and loyalty The impact of these efforts is evident in F88's performance. In the first half of 2025, the company reported a Net Promoter Score of 73 per cent, with over half of its customers returning for additional services — clear signs of growing trust and customer satisfaction. Commenting on the milestone, Chairman and CEO of F88 Phùng Anh Tuấn said: "A company like F88 cannot grow sustainably by abandoning its social mission in pursuit of short-term profit. Our goal is to grow along with our customers, not to trap them in debt." Reinforcing market position and investor confidence This recognition comes at a pivotal time for F88. Having recently become a public company and progressing toward listing on the UpCOM exchange, the Gold Certification strengthens its position in the eyes of investors and partners. For stakeholders who value Environmental, Social and Governance (ESG) criteria, it sends a powerful message: F88 is a transparent, ethical and socially responsible business — an organisation that balances profitability with purpose and offers a sound investment opportunity. M-CRIL is a global leader in rating financial institutions and works with investment support from the Asian Development Bank. Through its work, M-CRIL reduces risks for financial entities while encouraging micro and small businesses to adopt best practices. Hashtag: #F88 The issuer is solely responsible for the content of this announcement. F88
