Trade

The Hanoitimes - A 1,000 minimum trading lot will limit the participation of small investors, while the stock market is moving towards fairness and equality. The Vietnam Association of Securities Businesses (VASB) has expressed concern over a proposal of the Ho Chi Minh City Stock Exchange (HOSE) in raising the minimum trading lot to 1,000 shares to ease the overload issue. A 1,000 minimum trading lot could reduce 40-50% of the total transaction volume on HOSE. Photo: Cong Hung “The way out for such issue is to upgrade HOSE’s trading system, and the state authorities should speed up the process as soon as possible,” VASB’s Vice Chairman Phan Quoc Huynh told tinnhanhchungkhoan.vn . According to Huynh, a 1,000 minimum trading lot would limit the participation of small investors, while the stock market is moving towards fairness and equality. Huynh referred to opinions from some securities firms as saying that the move would cause negative impacts on … [Read more...] about Securities association expresses concern over prospect of 1,000 shares minimum trading lot

The index started off in the green before dipping by nearly 28 points starting at around 10.40 a.m. while a slight recovery in the afternoon was unable to bring it back to the starting point. It closed with a 18.43-point drop, ending a chain of five consecutive gaining sessions. Trading value on the Ho Chi Minh City Stock Exchange (HoSE), on which the index is based, rose 9.8 percent to VND16.8 trillion ($728.4 million), the highest since February 1. The bourse saw 95 stocks gain and 362 lose. Many investors reported overloads on the bourse even in the morning. There were times when buy orders were delayed for two or three minutes, they said. The VN30 basket, comprising the 30 largest capped stocks on the HoSE, saw 29 stocks in the red. VIC of biggest conglomerate Vingroup was the only ticker with no price change at VND106,900. Losing blue chips were led by TCH of real estate company Hoang Huy Investment Financial Services JSC, down 4.2 percent, and SSI of SSI Securities … [Read more...] about Trading value hits monthly high as VN-Index dips

The Hanoitimes - The main goal is to minimize losses for the state budget and ensure lawful rights for workers, national security and defense, Prime Minister Nguyen Xuan Phuc has said. Inefficient projects must be dissolved or filed for bankruptcy in compliance with current legislation to retrieve state capital as much as possible. Prime Minister Nguyen Xuan Phuc at the meeting. Photo: Quang Hieu Prime Minister Nguyen Xuan Phuc stressed the view at a government meeting discussing 12 ineffective and stagnant projects in the industry and trade sector on March 3. At present, three projects have been taken out of the monitoring list of poor-performing ones, including the DAP1 Hai Phong Fertilizer Plant, Ethanol Binh Phuoc and Ethanol Phu Tho, for  becoming profitable. A report from the Ministry of Industry and Trade (MoIT) informed other projects are in operation but face large amount of accumulated losses, some  are underway or being put on hold. One of the … [Read more...] about PM hints at dissolution and bankruptcy for loss-making mega projects

The Hanoitimes - The fact that nearly 19,800 enterprises temporarily suspended operation in the first two months of 2021, up 60.5% year-on-year, has also contributed to a decline in tax revenue. Vietnam’s tax revenue in the first two months of 2021 is estimated at VND246.4 trillion (US$10.7 billion), representing a decline of 1.4% year-on-year. Tax officers instruct locals to declare tax. Photo: Ha Lam Upon breaking down, revenue from crude oil dropped by 53.3% year-on-year to VND4.9 trillion (US$212.63 million), equivalent to 21.1% of the yearly estimate, while domestic revenue reached VND241.55 trillion (US$10.47 billion), or 22.1% of the estimate. “The figure remained a positive note taking into consideration a week-long Tet holiday in February causing production paralysis and a Covid-19 outbreak in a number of provinces/cities,” Director of the General Department of Taxation Cao Anh Tuan revealed the figure at a meeting on March 3, noting trade, … [Read more...] about Vietnam tax revenue down 1.4% in two-month period

The Hanoitimes - Hanoi’s mayor called for local governments to provide support for businesses affected by the pandemic, and review current existing supporting programs to ensure greater efficiency. Hanoi is ready to restart and accelerate socio-economic activities as the Covid-19 situation in the city has been put under control. Chairman of the Hanoi People's Committee Chu Ngoc Anh speaks at the meeting. “The priority in March is to strictly comply with anti-Covid-19 measures and boost socio-economic development,” Ngoc Anh said.Chairman of the Hanoi People’s Committee Chu Ngoc Anh gave the remarks at the city’s monthly meeting on March 4. Among measures to boost the local economy, the Hanoi’s mayor requested greater efficiency in global integration to boost exports, while adopting a more selective approach in attracting high quality foreign direct investment (FDI). “Hanoi aims to create a favorable business environment to further attract investment … [Read more...] about Hanoi ready to restart socio-economic activities with Covid-19 under control: Mayor