Vietnam Business & Weather Briefing (June 13): Reference exchange rate up VND 6
Gold price: VND 68.7 million/tael
Reference exchange rate: VND 23,071/USD
Export news: Five-month fruit and vegetable export turnover reaches 1.4 billion USD
Rain and thunderstorms continue in northern and north-central provinces
At 2 pm on June 13, the price of SJC gold dropped sharply. SJC listed the buying price at VND 67.8 million/tael and the selling price at VND 68.7 million/tael - down VND 650,000/tael compared to the morning session. DOJI Group listed the buying gold price at VND 67.5 million/tael and the selling price at VND 68.4 million/tael.
Reference exchange rate
The State Bank of Vietnam set the daily reference exchange rate for the US dollar at VND 23,071/USD on June 13, up VND 6 from the last working day of the previous week (June 10). With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is VND 23,763/USD, and the floor rate is VND 22,378/USD.
The opening-hour rates at some commercial banks went up. At 8:25 am, Vietcombank listed the buying rate at VND 23,010/USD, and the selling rate at VND 23,320/USD, up VND 10 from the rates at the end of June 10.
Meanwhile, BIDV kept both rates unchanged at VND 23,030/USD and the selling rate at VND 23,310/USD. During the week from June 6-10, the daily reference exchange rate went down on the first two days and up on the last two days. It ended the week up VND 3 from Monday.
Export news: Five-month fruit and vegetable export turnover reaches USD 1.4 billion
Vietnam’s fruit and vegetable export turnover hit 1.4 billion USD in the first five months of this year, down 17 percent compared to the same period last year, according to the Ministry of Agriculture and Rural Development (MARD). The ministry attributed the decline in five-month export value to a sharp decrease in shipments of the products to China. Exports of all vegetables and fruit to China have shown signs of decline, except for bananas, which recorded remarkable growth.
In the first five months of this year, China imported 742,000 tonnes of bananas, a year-on-year increase of 10 percent. Of which, the volume of Vietnamese and Philippines bananas account for 43 and 28 percent market share, respectively. According to the MARD, in the coming time, it is still difficult for fruit and vegetable in particular and agricultural products in general to enter the Chinese market. Therefore, exporters should actively seek new markets, and increase the export of fruits that have been granted permission to Japan, the United States, and the European Union markets.
PV Gas among Forbes Vietnam’s list of top 50 listed firms for 10th year
The PetroVietnam Gas Joint Stock Corporation (PV GAS) has been named among the top 50 listed companies in 2022 by Forbes Vietnam for the 10th consecutive year. According to the magazine’s statistics, the total profit after tax of the 50 companies reached VND 193.183 trillion (USD 8.32 billion), up 10.7 percent from that of those listed last year. Their revenue, meanwhile, amounted to over VND 1.192 quadrillions.
PV GAS ranked in the top five businesses with the most impressive revenue and profit. Its turnover, profit, and capitalization were reported at VND 78.992 trillion, VND 8.672 trillion, and VND 210.534 trillion, respectively. In 2021, PV GAS recorded a 23-percent increase in net revenue from sales and service provision compared to 2020. In 2022, the firm began to import liquefied natural gas (LNG) for energy conversion to compensate for the declining domestic gas supply and promote the development of the LNG market in Vietnam.
Most of the top ten companies in the list are industry leaders or have established competitive advantages in their fields of operation. Along with PV GAS, the Vietnam Oil and Gas Group (PetroVietnam) also saw two other subsidiaries honored by Forbes, namely the PetroVietnam Ca Mau Fertilizer JSC and Petrovietnam Fertilizer And Chemicals Corporation.
The list was first established in 2013. PV Gas was among nine firms honored in all of the ten editions. The others are Bao Viet, DHG Pharma, FPT, Hoa Phat, Masan Group, Refrigeration Electrical Engineering Corporation, Vinamilk, and Vietcombank.
|Photo: Phap luat & Doi song|
June 14-16: From tonight to June 15, in the Northern provinces and Thanh Hoa, there will be moderate to heavy rain and thunderstorms. From the night of June 14, the areas of Dien Bien, Lai Chau, Son La, Hoa Binh, and the South of the Northern Delta will experience heavy rain and thunderstorms.
Vietnam Business & Weather Briefing (June 12): Banks told to control lending for real estate projects, Vietnam jumped five spots to rank 54 in the ...
Vietnam Business & Weather Briefing (June 11): Reference exchange rate unchanged, gold price increases.
Vietnam Business & Weather Briefing (June 10): Reference exchange rate up VND 3 on June 10. In the Central region, there will be rain at ...