Deputy Prime Minister Vuong Dinh Hue speaks at the forum in Hanoi on August 21 (Photo: VNA) Hanoi (VNA) – Officials and experts talked challenges and solutions to expand the capital – financial market of Vietnam at a forum in Hanoi on August 21. Addressing the event, part of the Vietnam Economic Forum, Deputy Prime Minister Vuong Dinh Hue said it is necessary to look into the imbalance between the credit market and the capital market, between credit and other added services in banks’ credit activities, and between the short-term and long-term markets, particularly the bond market. He cited the figure of 53 percent of businesses operating unprofitably as of the end of 2016, saying that one of the reasons for this is the lack of capital. Many companies depend on bank loans to operate, so their financial expense is very high, plus other high expenses like market access and logistics costs, which hampered their business performance, the Deputy PM said. Deputy … [Read more...] about Forum discusses solutions to expand capital-financial market
Financial market
RoK firms increase investments in Vietnam’s financial market
Woori Bank - Illustrative image (Source: Internet) Hanoi (VNA) - Institutions from the Republic of Korea (RoK) have increased their investments in Vietnam’s financial market significantly, expecting to make big gains thanks to the economic growth outlook. The investments are poured through the acquisition, capital contribution or comprehensive co-operation agreements with local financial companies and banks. Besides the two fully foreign-owned Shinhan Bank and Woori Bank in Vietnam, many other major RoK banks have also set up branches and representative offices in the country, such as KEB Hana, Industrial Bank of Korea, Kookmin, Busan and Nonghyup. Early this month, the Hana Financial Group was the latest case of the RoK’s financial institutions to expand business in Vietnam by acquiring a stake in the Bank for Investment and Development of Vietnam (BIDV), according to Business Korea. The Korean business portal quoted a local financial official that KEB Hana Bank was … [Read more...] about RoK firms increase investments in Vietnam’s financial market
VN firms seek investments from London financial market
A conference on financial investment promotion in Vietnamese enterprises was also held in London on March 7. (Source: VNA) London (VNA) – Vietnamese Ambassador to the UK Tran Ngoc An and representatives from the Ho Chi Minh Stock Exchange and Vietnamese businesses on March 7 attended the opening session of the London Stock Exchange, one of the largest stock markets in the world. This was one of the activities organised in the UK on March 7 and 8 to introduce Vietnam’s capital market and opportunities for financial investments in Vietnamese companies. A conference on financial investment promotion in Vietnamese enterprises was also held on March 7, during which the ambassador briefed participants on Vietnam’s economic achievements and potential. He stressed that with the determination of the Vietnamese Government, 2018 is expected to be a key year for the equitisation of major domestic enterprises, adding that the number of equitised firms in the year may … [Read more...] about VN firms seek investments from London financial market
Committee urged to focus proposals on macro economy, financial market
Prime Minister Phuc presents the third-class Labour Order to the National Financial Supervisory Committee. (Source: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has asked the National Financial Supervisory Committee to coordinate with competent ministries and agencies to give proposals to the Government and the PM on major economic issues, especially those regarding the macro economy and financial market supervision. Addressing a ceremony marking the 10th anniversary of the committee in Hanoi on March 6, PM Phuc said the committee should focus on analysing the situation, particularly potential risks to the financial market, and activities of the banking, stock, insurance and real estate markets. He urged the committee to propose suitable policies and solutions, including risk identification tools and criteria assessing the safety of the financial system, given the fact that many countries in the world have effectively applied the early warning system of … [Read more...] about Committee urged to focus proposals on macro economy, financial market
Top 10 events of Vietnam’s stock market in 2017 announced
1. Inauguration of the derivatives marketOn August 10, Deputy Prime Minister Vuong Dinh Hue pressed the button to launch the derivatives market, marking a milestone in the development of Vietnam’s securities market. (Photo for illustration) The derivatives market, starting with the VN30-Index future contracts first, was hailed as an important component to completing the structural development of the financial market as well as key part of the development strategy for the securities market in the future.The market, managed by the Hanoi Stock Exchange, saw over 946,300 contracts traded and 15,800 trading accounts set up over the past two months. 2. VN-Index hits decade-high After being hit hard by the global financial crisis in 2008 when foreign capital fled, Vietnam’s benchmark VN-Index reached a decade-high of 970 points on December 4, a gain of 46 percent over the end of 2016. Vietnam’s stock market capitalisation hit 3.36 quadrillion (147.4 … [Read more...] about Top 10 events of Vietnam’s stock market in 2017 announced
Top 10 Viet Nam stock market events of 2017
1. Inauguration of the derivatives marketOn August 10, Deputy Prime Minister Vuong Dinh Hue pressed the button to launch the derivatives market, marking a milestone in the development of Viet Nam’s securities market.The derivatives market, starting with the VN30-Index future contracts first, was hailed as an important component to completing the structural development of the financial market as well as key part of the development strategy for the securities market in the future.The market, managed by the Ha Noi Stock Exchange, saw over 946,300 contracts traded and 15,800 trading accounts set up over the past two months. 2. VN-Index hits decade-highAfter being hit hard by the global financial crisis in 2008 when foreign capital fled, Viet Nam’s benchmark VN-Index reached a decade-high of 970 points on December 4, a gain of 46 per cent over the end of 2016.Viet Nam’s stock market capitalisation hit VND3.36 quadrillion (US$147.4 billion) in 2017, up 73 per cent from … [Read more...] about Top 10 Viet Nam stock market events of 2017
Top 10 Vietnam stock market events of 2017
The Securities Journalists Club on Wednesday announced the top 10 biggest events on Viet Nam’s stock market in 2017. 1. Inauguration of the derivatives market A number of listed businesses have seen their market value swell by additional US$1 billion each in 2017. — Photo bizlive.vnOn August 10, Deputy Prime Minister Vuong Dinh Hue pressed the button to launch the derivatives market, marking a milestone in the development of Viet Nam’s securities market.The derivatives market, starting with the VN30-Index future contracts first, was hailed as an important component to completing the structural development of the financial market as well as key part of the development strategy for the securities market in the future.The market, managed by the Ha Noi Stock Exchange, saw over 946,300 contracts traded and 15,800 trading accounts set up over the past two months. 2. VN-Index hits decade-highAfter being hit hard by the global financial crisis in 2008 when foreign capital … [Read more...] about Top 10 Vietnam stock market events of 2017
Experts optimistic about 2018 stock market prospects
Voicing her opinion at an online discussion on December 20, Pham Minh Huong, Chairwoman of the Board at VNDIRECT Securities Corporation, said the stock market’s 2017 growth was spectacular but not surprising. Her prediction for 2018 was that the finance, energy and manufacturing sectors will experience strong growth, which means they are likely to be recommended to both up-and-coming and experienced investors by financial experts. Huong said that although the banking and finance sector would still face a lot of institutional and bad debt risks, commercial banks, securities and insurance companies have learned their lessons and are well prepared for the challenges to come. With Vietnam’s fast-growing consumer economy, the manufacturing and energy sectors will always be attractive. Aviation is another safe bet, as living standards and tourism increase, she said. The year 2018 is set to mark the beginning of Vietnam’s next stage of financial growth, with the … [Read more...] about Experts optimistic about 2018 stock market prospects
State financial reports may be publicized from 2018
State financial reports may be publicized from 2018Minh Tam HCMC - From 2018, the Ministry of Finance and local governments would have to post State financial reports on their websites as a way to inform the public as required by a draft Government decree. The ministry has passed around the draft decree on State financial reports for relevant ministries and agencies to comment before it goes before the Government. Article 15 of the draft decree stipulates that people’s committees in provinces and cities are responsible for publicizing reports on their assets, debts, capital sources, collections, costs and cash flows. The Ministry of Finance should announce the same report at the State level. According to the draft decree, local governments as well as the ministry must publicize reports on their websites while the ministry also has to publish print editions. The draft decree is to announce financial issues in accordance with regulations of the 2015 Accounting Law that … [Read more...] about State financial reports may be publicized from 2018
Market plunges deeper to new low
Market plunges deeper to new lowBy Thuy Trieu - The Saigon Times DailyHCMC – The HCMC market on Wednesday plunged deeper into the red as feared, hitting another low level of 276.22 points after shedding 5.8 points, or 2.05%, from the previous session, breaking the bottom of 277 points on February 5 to the nearly-four-year low since September 2005.The market saw the demand increase nearly 30% from the previous session to 13 million shares and the offer up 8.4% to 15.3 million shares. At the end of the session, investors changed hands 7.74 million shares worth There were 117 stocks falling and 31 others increasing, of which 44 stocks reached the ceiling prices while seven others dropped to the floor prices. Two stocks of Vinh Hoan Corp. (VHC) and Saigon Hotel Corp. (SGH) did not have any transaction.Major drags on the market are biggest blue chips excluding Vinamilk (VNM) and Hoang Anh Gia Lai Co. (HAG) that moved flat. Pha Lai Thermal Power Co. (PPC) was the most actively traded … [Read more...] about Market plunges deeper to new low