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NA Vice Chairman examines election preparations in Yen Bai

Hai, who is also Chairman of the NA’s Finance and Budget Committee and a member of the National Election Council (NEC), asked the province to continue its communications efforts, particularly in remote and ethnic minority-inhabited areas. Priority should be given to increasing IT application and training personnel for the task, intensifying inspections, and encouraging people to vote, he added. Vice Secretary of the provincial Party Committee and Chairman of the provincial People’s Committee Tran Huy Tuan said that as of April 12, Yen Bai had organised a total of 1,306 conferences to collect feedback from constituents on candidates for the elections in their constituencies. Also head of the provincial election committee, Tuan said Yen Bai has nearly 600,000 constituents. The province has held its third political consultative conference, agreeing on a list of eight and 97 candidates for election as deputies to the 15th NA and members of all-level People’s Councils for 2021-2026, … [Read more...] about NA Vice Chairman examines election preparations in Yen Bai

Bright prospects for bank stocks

Bank tickers will remain in the spotlight, with investors racing to capitalise on bright profit prospects. In its forecast for 2021, Hanoi-based VNDIRECT Securities Corporation said banks would be among the first corporate entities to take advantage of the economic rebound. The company also anticipates a sharp jump in banks’ profit this year in the wake of improved net income margin (NIM) and higher credit growth. Banks’ profit is forecast to be on a sharp rise in 2021 Agreeing with the forecast, the BIDV Securities Company (BSC) recently issued a report on the prospects of the banking sector, saying that commercial lenders would witness a sharp rise in profit thanks to the economic rebound and good control of asset quality post-pandemic. The BSC report assumed that the whole sector’s pre-tax profit could soar 28 per cent, chiefly attributable to 14 per cent credit growth in 2021, plus the interest rate going sideways and reduced pressure on making loan loss … [Read more...] about Bright prospects for bank stocks

Hoa Phat increases steel pipe market share to over 30 percent

Hoa Phat's steel pipes (Photo: VNA) Hanoi (VNA) - Steel manufacturer Hoa Phat Group sold over 184,000 tonnes of steel pipes in the first three months of this year, a 27 percent increase against the same period last year and giving it the lead in market share, with 30.2 percent. Nearly 7,000 tonnes of pipes were shipped to the US, Australia, and Canada during the period, a year-on-year rise of 31 percent. Sales of its steel sheets, meanwhile, neared 74,000 tonnes in the first quarter, triple the figure posted in the same period last year. Steel pipe exports contributed 4 percent to total sales, while shipments of coated steel sheets accounted for 45 percent. Hoa Phat has to date inked deals to export products to the end of July, primarily to Europe, the US, and Mexico. In March alone, sale of steel pipes exceeded 90,000 tonnes, growing 73 percent year-on-year, while that of steel sheets totalled 31,000 tonnes, a four-fold increase year-on-year. Of the … [Read more...] about Hoa Phat increases steel pipe market share to over 30 percent

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