Photo: QDND

Business Briefing

Gold rate

The world gold price increased sharply as a result of a weak dollar and a slight decrease in US bond yields. Following the same trend, the domestic gold price this morning increased.

DOJI gold is traded at VND 68.5 million per tael (buying) and VND 69.35 million per tael (selling), an increase of VND 250,000 in buying and VND 200,000 dong in selling compared to the previous day.

Reference exchange rate

The State Bank of Vietnam set the daily reference exchange rate for the US dollar at VND 23,069/USD on June 3, up VND 3 from the previous day. With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is VND 23,761/USD, and the floor rate VND 22,376/USD.

The opening-hour rates at commercial banks stayed stable. At 8:30 am, Vietcombank listed the buying rate at VND 23,040/USD, and the selling rate at VND 23,330/USD, both unchanged from the rates at the end of June 2. BIDV also kept both rates unchanged at VND 23,070/USD (buying) and VND 23,350/USD (selling).

During the week from May 30-June 3, the daily reference exchange rate was adjusted down on the first two days but then turned around to follow an upward trend. However, it still ended the week down VND 20 from the rate at the week’s beginning.

De Heus expands investment into the Vietnamese strategic market. (Photo: VOV)

Investment news: De Heus expands investment into Vietnamese strategic market

De Heus group of the Netherlands has continuously been seeking to expand its investment in the Vietnamese market by partnering with Hung Nhon Group to develop the DHN Gia Lai High-Tech Agricultural Complex in the central highlands province of Kon Tum. Boasting a total investment capital of US$65 million, the project will specialize in swine gene selection and production, automatic slaughtering, organic animal feed production, and organic fertilizer production.

Koen De Heus, CEO of Hoang Gia De Heus Group, emphasized that the main purpose of the establishment of the high-tech agricultural complex is to create high-quality livestock products under a closed chain toward a high-tech and modern agricultural sector, all of which will fall in line with the Vietnamese Government’s policies.

Vu Manh Hung, chairman and general director of Hung Nhon Group, said the complex has contributed to creating a modern livestock model, accelerating economic development, boosting social security in Gia Lai, and generating jobs for nearly 300 local workers.

Last year, the two companies completed construction on the site and put the complex DHN high-tech agricultural application project in Dak Lak province into operation. They also put into operation the Bel Ga Tay Ninh incubator factory in Tay Ninh province which received a total investment of US$8.7 million. Johan van den Ban, general director of De Heus Vietnam, also underscored the importance of utilizing the advantages of both sides in modernizing the Vietnamese livestock industry and improving productivity and the lives of farmers.

Most notably in November last year, De Heus strengthened its strategic position in the nation by acquiring Masan's feed business. Following the acquisition of 14 Masan animal feed mills, De Heus has raised the total number of feed mills in the country to 23, thereby affirming its leading position in the Vietnamese animal feed market.

Koen de Heus pointed out that the Vietnamese market remains their biggest and most important market in Asia, noting that with 23 factories, De Heus Vietnam has become the company that owns the largest number of De Heus feed mills globally.

With a vision and orientation moving forward to 2030, De Heus and Hung Nhon Group will continue to expand and develop the chain of large-scale pig breeding projects and epidemic-free zones in five provinces in the Central Highlands. The projects will be deployed in Kon Tum and Dak Nong. Once completed, the project chain will contribute to turning the Central Highlands into a hub for supplying piglets as well as developing the leading hi-tech breeding models throughout Southeast Asia and Asia as a whole.

Photo: Tai chinh Tieu dung

Weather Forecast

June 4 - 6: The hot weather in the North is likely to last until June 4. From June 5, the heat tends to ease. In the central region, the heat will continue in the coming days, especially in the North Central provinces. Central Highlands and the Southern provinces will have scattered showers and thunderstorms.

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