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Industrial park developers in Vietnam are expecting higher profit growth this year after disbursed foreign direct investment (FDI) in the first five months reached an estimated $8.25 billion, up 7.8% year-on-year - the highest figure in five years.
With a bright outlook and a number of other supporting factors, tickers in agricultural firms have made strong gains in the past two months, rising by 18-60% and outperforming the 11% recovery of the benchmark VN-Index.
Tickers of Vietnamese shipping and seaport firms have surged 17-32% over the past month, driving a 6.4% gain on Vietnam’s benchmark VN-Index thanks to a brighter outlook for trade and freight and charter rates unlikely to fall further.
PV Oil, a Petrovietnam subsidiary, has doubled its Jan-Sept profit year-on-year to VND628 billion ($25.56 million), with an opening spree in new retail outlets and soaring sale volumes.
Automakers and analysts are warning of a likely slump in the automobile market this year amid falling demand and high credit interest rates. - VnExpress International