Illustrative image (Source: VNA) Hanoi (VNA) - Vietnam has made it onto the list of the world’s five biggest textile exporters and producers, with textile and garment export turnover hitting 16 billion USD in the first half of 2018, up more than 14 percent year-on-year. Experts said Vietnam has many opportunities to expand its markets in the field thanks to free trade agreements signed by the country with partners. The signing of the European Union - Vietnam Free Trade Agreement (EVFTA) in 2018 is hoped to help Vietnam's textile and garment industry make deeper inroads into this market. BESIDES, the US is likely to increase import tariffs on textiles and garments from China, and this will create favourable conditions for Vietnamese enterprises to expand and increase their export market share to the US - a key market for Vietnam’s textile products. According to Vu Duc Giang, President of the Vietnam Textile and Apparel Association (VITAS), thanks to the world economy … [Read more...] about Vietnam among top five global textile exporters
Global enterprise marketing
Viettel Global to be listed on UpCOM in July
Viettel Global, Viettel Group’s international investment arm, will be listed on the Unlisted Public Company Market (UpCOM) in July and plans to increase charter capital by VND8 trillion ($349.49 million). Myanmar is one of Viettel's newest foreign markets This was one of the contents approved at recent shareholders’ meeting of Viettel Global. The shareholders also approved the plan to increase the charter capital to VND30.43 trillion ($1.33 billion) via issuing 800 million shares at the price of VND10,000 apiece. The entire proceeds from the share sale will be used for investments by 2020. Buyers will be prohibited to transfer the shares for one year. A customer of Mytel In addition, the shareholders approved appointing Le Dang Dung as chairman of the Board of Directors of Viettel Global, while simultaneously approving to look for candidates for the position of general director. At present, Dung fills both positions. To date, Viettel invested more than $2 … [Read more...] about Viettel Global to be listed on UpCOM in July
Trung Nguyen’s dreams of global ambition drown in divorce dispute
The three-year divorce dispute between Dang Le Nguyen Vu, chairman of Trung Nguyen Group, and Le Hoang Diep Thao has drowned Vu’s ambition of taking over the world-leading coffee brand Starbucks to dominate the global coffee market. Trung Nguyen's coffee shop in Singapore. Photo: VTC News Three year divorce with no end in sight Most recently, the dispute between Trung Nguyen Group and Le Hoang Diep Thao, the group’s former deputy general director, is causing a stir again as it has been revealed that the group’s subsidiary—Trung Nguyen Instant Coffee JSC (Trung Nguyen IC)—in mid-2017 sued Thao at the Bac Giang People’s Court for illegally seizing the company’s seals and the Bac Giang branch’s legal documents. Trung Nguyen IC asked Thao to pay a compensation of $75.2 million. On May 16, Thao rejected Trung Nguyen IC as well as her husband Dang Le Nguyen Vu’s accusations. Thao argued that Vu was not Trung Nguyen IC’s legal … [Read more...] about Trung Nguyen’s dreams of global ambition drown in divorce dispute
Future bright for Viet Nam’s capital market
The Vietnamese economy’s bright prospects have created many opportunities for investors in the market. However, the economy is still heavily dependent on credit and the development of this market is still limited. Vietnam News Agency talks to Vu Bang, member of the Prime Minister’s Economic Advisory Group, about how to make Viet Nam’s capital market become more attractive and what opportunities will be identified in 2018. Viet Nam’s economy has long been dependent on credit. According to experts, if firms depend almost entirely on credit, Viet Nam’s capital market will be unable to develop. What do you think about this? Over the past five years, the capital market has helped mobilise about VND1.4 quadrillion (US$61.9 billion) from issuing bonds and shares. On average, enterprises raised VND20-30 trillion ($885 million - $1.3 billion) each year through the capital market. However, the amount of credit [supplied by the monetary market] to the economy is … [Read more...] about Future bright for Viet Nam’s capital market
Global trade war risk has limited impact on Vietnam’s securities
Fears of a trade war between the US and China have rocked global stock markets in recent sessions, but experts anticipate limited effects on Vietnam’s securities market growth as the market is on solid footing and is increasingly reliant on domestic demand. If the conflict occurred only between the US and China, Viet Nam would have a good chance to export to the US. - Photo giathep24h.vn On March 22, US President Donald Trump signed a memorandum that would impose 25 tariffs on up to US$60 billion in annual imports from China. In retaliation, China announced similar tariffs on about $3 billion of US imports. Though there is still speculation that China may expand its target to a broader range of US business interests, international experts believe the current trade spat between the two economic powers will be resolved through ongoing negotiations rather than moving toward a full-fledged trade war. This issue, however, continues to weigh on investor sentiment and raise … [Read more...] about Global trade war risk has limited impact on Vietnam’s securities
Global trade war risk has limited impact on Viet Nam’s securities
Fears of a trade war between the US and China have rocked global stock markets in recent sessions, but experts anticipate limited effects on Viet Nam’s securities market growth as the market is on solid footing and is increasingly reliant on domestic demand. If the conflict occurred only between the US and China, Viet Nam would have a good chance to export to the US. - Photo giathep24h.vn On March 22, US President Donald Trump signed a memorandum that would impose 25 tariffs on up to US$60 billion in annual imports from China. In retaliation, China announced similar tariffs on about $3 billion of US imports. Though there is still speculation that China may expand its target to a broader range of US business interests, international experts believe the current trade spat between the two economic powers will be resolved through ongoing negotiations rather than moving toward a full-fledged trade war. This issue, however, continues to weigh on investor sentiment and raise … [Read more...] about Global trade war risk has limited impact on Viet Nam’s securities
Stock market crashes
Stock market crashesPhuong Thao HCMC – Stocks took a nosedive on January 17 as sellers locked in profit after recent strong gains, with the VN-Index shedding a hefty 28.27 points, or 2.66%, at 1,034.69. According to securities enterprises, market sentiment was negatively affected by a draft amendment to Decision 87, proposed by the State Securities Commission (SSC). According to the document that has been sent to brokerage firms for feedbacks, the equity required for each margin lending transaction should not be below 60%, a significant increase from the current 50%. The money flow, especially from local retail investors, therefore could be tightened. This indicates some caution by the SSC regarding the strong rally in share prices this year. Blue chips were key factor behind the steep decline as only confectionery firm KDC and construction firm ROS in the VN30 basket managed fractional rises. Meanwhile, VNM, the country’s leading dairy enterprise, fell 3.9% at VND200,100 … [Read more...] about Stock market crashes
Vietnam to soon qualify for emerging market status
Updated at Saturday, 30 Dec 2017, 12:46 The Hanoitimes - The Vietnam Stock Index increased 46.9 percent year-to-date as investors bought into the country`s rapidly-growing economy. The country is technically still classified as a frontier market by MSCI, but has been working on improving accessibility to foreign investors as it tries to get an upgrade to emerging market status. Besides encouraging local companies to publish updates in English, the government has also moved to privatize state-owned firms. A majority stake in Sabeco, Vietnam's largest brewer, auctioned off earlier this month was won by a unit of Thai Beverage. Vietnam is expected to qualify for emerging market status. "The sale of some state-owned enterprises should help lower Vietnam's rising national debt and also attract significant foreign direct investment," Chetan Sehgal, director of global emerging markets and small cap strategies at Templeton Emerging Markets Group said. "At this stage, Vietnam … [Read more...] about Vietnam to soon qualify for emerging market status
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
Sell-off forecast to dent market recovery
Sell-off forecast to dent market recoveryPhuong Thao By Phuong Thao - The Saigon Times Daily HCMC – Securities enterprises predicted that the local stock market would extend its losing streak this week given a continued sell-off. Last Friday, the VN-Index spared an intraday loss of up to nine points when it slid just 1.89 points to close at 585.28 when the last session of the week ended. Nevertheless, the index extended its losing streak for the sixth consecutive day, losing nearly 7% for the whole week, as a weak global stock market weighed on sentiment and foreigners continued net selling for the fifth straight day. Small and mid-cap stocks led the late afternoon bounce while most blue-chips except VNM lost ground. In particular, GAS, PVD and VCB together dragged the VN-Index down by 4.1 points. Meanwhile, the HNX-Index bounced back 0.44 point at 87.64 at the last session of the week. Total market turnover dropped to VND3.7 trillion, still below the 20-day average of VND4.1 … [Read more...] about Sell-off forecast to dent market recovery