Government bond markets

The carrier’s shares were listed on the Ho Chi Minh Stock Exchange Tuesday after moving from UPCoM, or the Unlisted Public Company Market. It closed the session with a market capitalization of VND57 trillion ($2.45 billion). Nguyen Hoang Anh, chairman of the Committee for Management of State Capital at Enterprises (CMSC), told VnExpress the move to HoSE would facilitate the government’s divestment from the airline and help attract large investors. The CMSC has instructed Vietnam Airlines to draw up a divestment roadmap for 2019-20 enabling the state to sell 35.19 percent out of its current 86.19 percent stake, he added. Without elaborating, Vietnam Airlines chairman Pham Ngoc Minh said plans have been completed and sent to competent authorities for approval. The carrier is also planning to make private placements to large investors. It has a strategic partnership with ANA Holdings, a Japanese aviation corporation which holds an 8.77 percent stake in it, for … [Read more...] about Government plans to slash stake in Vietnam Airlines to 51 percent

Experts believed that the government’s decision on increasing foreign holding will be a springboard for foreign investors to penetrate into the Vietnamese burgeoning market. The Vietnamese aviation market is expected to undergo significant changes next year as the government opens up more room for foreign investors in the industry amid share sale plans of domestic airlines. Under new regulations on the conditional business lines in the aviation sector, effective from January 1, 2020, Vietnam will raise the foreign ownership limit in domestic air carriers to 34% from the current 30%. Analysts from Ho Chi Minh City Securities Corporation forecast that Vietjet would be the first airline to reach the new foreign holding limit as the budget airline seeks a strategic partner by 2020. A higher foreign holding ratio will be also expected at Vietnam Airlines that will have to unload 35.19% of state holding in order to reduce state ownership to 51% from the current 86.19% under the … [Read more...] about Foreign investors grasp more control overn Vietnam’s aviation market

S&P cut its outlook from its previous assessment of "stable" on Thursday, warning that economic rebalancing away from investment towards services was taking longer than expected.Chinese foreign ministry spokesman Hong Lei said on Friday that the country was "in the process of economic transformation" and that economic fundamentals were stable. “We hope the relevant organisation can have a comprehensive understanding of China’s economic development, and make an objective judgement,” he added at a regular briefing. Beijing posted its slowest economic growth in a quarter century last year as it grappled with a tough transition away from dependence on heavy industries toward a consumer-driven growth. Fluctuations in the exchange rate and stock markets last summer and slow progress on market reforms in state-dominated sectors undermined confidence in leaders' willingness to push for change. S&P kept its rating on Chinese sovereign bonds unchanged at … [Read more...] about China insists economy stable after S&P lowers outlook

At the teleconference (Source: VNA) Hanoi (VNA) - Measures to reach the growth target of 6.7 percent in 2018 were discussed at a teleconference between the Government and localities on July 2. According to Minister of Planning and Investment Nguyen Chi Dung, to realise the yearly goal, GDP must reach 6.53 percent in the third quarter and 6.36 percent in the final quarter. However, he noted that the national economy would face many challenges in the second half of 2018 as the main drivers of growth are not as clear as in 2017. Trade tensions are spreading among the US, China and the EU, bringing both challenges and opportunities to Vietnam’s economy. Vietnam can take advantage of opportunities to promote export or import of cheap goods, while accelerating the restructuring of imported material market to cope with new difficulties. Dung stressed the need to speed up the restructuring of the economy in the rest of the year, focusing on improving quality to increase the … [Read more...] about Measures sought for 6.7-percent economic expansion

Vietnam and Bangladesh are forecast to reap benefits from becoming alternative sourcing destinations as the fashion sector is reckoned the most exposed amid an escalating US - China trade war, according to Fitch Solutions analysts. Both Vietnam and Bangladesh appear to be well-positioned as clothing manufacturing hubs and will be obvious choices as clothing retailers with exposure to the US shift their production out of China. (Illustrative photo: VOV) US President Donald Trump has most recently threatened to levy new tariffs on US$300 billion worth of Chinese imports to the US. Unlike previous rounds of tariffs that largely targeted industrial and commercial products, this round is expected to cover all US imports from China and hit consumer goods such as toys, footwear, and apparel. Fitch Solutions, a macro research unit of Fitch Group, noted that on May 5 President Donald Trump announced the US would increase tariffs on US$200 billion worth of Chinese … [Read more...] about Trade war to benefit Vietnam’s fashion: Fitch Solutions