HÀ NỘI — E-commerce giant Amazon is proceeding with its ambitious business plan in Việt Nam, following Alibaba’s footsteps, said Nguyễn Thanh Hưng, chairman of the Việt Nam E-commerce Association (VECOM). According to a source from VECOM, during a meeting between VECOM and representatives of the Amazon Group held last week, the firm’s spokesperson revealed that they had set their eyes on the new up-and-coming market in Southeast Asia, as well as walked delegates through the firm’s strategy to approach customers in the country. “Amazon’s strategy consists of two steps. They want to export goods to Việt Nam and then import goods from the country. They also want to support Vietnamese small and medium enterprises (SMEs) to export on Amazon,” Hưng said, adding that this move should be considered as a good sign for the Vietnamese SME community. Earlier in November, during his Việt Nam visit, … [Read more...] about Amazon eyes VN market
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VN-Index approaches 580 points
VN-Index approaches 580 pointsPhuong Thao By Phuong Thao - The Saigon Times Daily HCMC – The local stock market moved in a narrow range in much of Thursday’s trading session but managed to advance slightly at the close thanks to rising demand. The VN-Index again approached the resistance level of 580 points, adding 3.62 points, or 0.63%, from a day earlier to close at 578.56. Liquidity on the southern bourse improved strongly, with volume and value jumping 33% and 24.5% to 141 million shares worth over VND2.2 trillion. Viet Capital Securities Company said gainers spread across sectors as 15 of 18 sectors it observed gained on Thursday. “We noticed that full-foreign-room tickers led the market’s gains today despite the lack of news about the foreign ownership limit (FOL) proposal.” Outstanding put-through transactions included 1.9 million HAG shares and 5.8 million KBC shares. Foreigners remained net sellers for the fourth straight day at a net selling … [Read more...] about VN-Index approaches 580 points
Social News 13/12
First district-level hospital in country performs open heart surgery Le Quoc Phong re-elected 11th HCYU Central Committee first secretary Official: Children need safe internet environment Seminar spotlights Vietnam’s culture and development issues USAID continues helping Vietnam Red Cross manage disaster risks Inspection work has improved, but problems remain Youth urged to bolster ’revolutionary ideals’ Vietnamese students receive AEON Scholarships Be smart, watch out for trigbger fingers 65,000 children benefit from nutrition education project War veterans honour late President Ho Chi Minh “Pho” honoured in Ho Chi Minh City Hanoi meets tourism target Fine art association should emphasise innovation Defence Minister receives Cuban Ambassador Nostalgic concert to honour composer Du Conference seeks to improve food value chain in Mekong Delta Quang Tri border guards uncover synthetic drug trafficking cases Japan shares experience in … [Read more...] about Social News 13/12
Market buoyed by macroeconomic news – brokerages
Market buoyed by macroeconomic news - brokeragesKim Ngan By Kim Ngan - The Saigon Times Daily HCMC – Securities companies said the market would see a slight recovery this week buoyed by positive macro-economic information announced recently and active foreign trading. Last week saw three rising sessions and two falling ones on the Hochiminh Stock Exchange, with the VN-Index inching up nearly 0.3% against the week earlier to close at 602.59 while the HNX-Index expanded around 1.7% to end at 89.55. Liquidity continued to improve as matching volumes on the HCMC and Hanoi markets increased 4.4% and 12% respectively to over 550 million shares and 258 million shares. Cash flow mainly poured into listed enterprises having reported positive business results in the third quarter of this year. Selling pressure on large-caps built up in the middle of the week, but bottom fishing seemed to be active and helped save the main index from falling deeply. Bottom fishers also buoyed sentiment of … [Read more...] about Market buoyed by macroeconomic news – brokerages
VN stocks trade negatively amid investor caution
Shares declined on Wednesday morning as investors remained cautious of the current market volatility, thus increasing the selling pressure.The benchmark VN Index on the HCM Stock Exchange fell 0.40 per cent to close at 923.58 points. It gained 1.07 per cent on Tuesday.The HNX Index on the Ha Noi Stock Exchange lost nearly 1 per cent to end at 109.81 points, extending its loss further from a three-day decline of 3.1 per cent.Nearly 121.5 million shares were traded on the two local exchanges, worth VND2.44 trillion (US$108.5 million).Selling pressure remained strong across the two local exchanges, as investors were cautious with the current market volatility, proven by the previous two sessions that had strongly fluctuated.Financial stocks with banks, insurance companies and brokerages continued to weigh down the market. The three sector indices lost between 0.5 per cent and 1.4 per cent, data on the news site vietstock.vn showed.The worst decliners among those financial stocks included … [Read more...] about VN stocks trade negatively amid investor caution
Markets buoyed by Sabeco news
Shares performed well on the Ho Chi Minh Stock Exchange on December 12 on the efforts of energy and beverage stocks following news about the State’s divestment from largest brewer Sabeco and a jump in oil prices. Investors follows transactions at Saigon Securities Inc (SSI) in Hanoi The benchmark VN Index gained 1.07 percent to close at 927.25 points, rebounding from the previous sharp fall of 2.42 percent.More than 243 million shares were traded on the southern exchange, worth 5.8 trillion VND (258.3 million USD).The figures posted a quarter increase in trading volume and a 27 percent rise in trading value compared to December 11.The market’s rebound was attributed to the growth of the energy and beverage sectors, which were lifted by brewer Sabeco (SAB), dairy producer Vinamilk (VNM), PetroVietnam Gas (GAS) and PetroVietnam Drilling and Well Services (PVD).The two energy shares, GAS and PVD, increased by 4.6 percent and 6.7 percent, respectively, boosting the energy … [Read more...] about Markets buoyed by Sabeco news
VN stocks extend losses, Sabeco advances
Shares failed to recover from Monday’s plummet, despite efforts made by beverage firms in which the State holds a majority stake.The benchmark VN Index on the HCM Stock Exchange fell 0.38 per cent to end Tuesday morning at 914.00 points.Viet Nam’s benchmark index plunged 2.42 per cent on Monday.The HNX Index on the Ha Noi Stock Exchange sank 1.91 per cent to close at 109.65 points, extending its downward trend for a third consecutive day.More than 167.6 million shares were traded on both local bourses, worth VND3.58 trillion (US$159 million).The two local exchanges were still dominated by declining stocks, which outnumbered gaining shares by 318 to 64, while 92 others stayed unchanged.In spite of efforts from dairy producer Vinamilk (VNM) and brewer Sabeco (SAB), in which the government holds a controlling stake, the stock market continued to move lower and signalled a further decline.VNM and SAB gained 1.1 per cent and 6.8 per cent, respectively, following the news that … [Read more...] about VN stocks extend losses, Sabeco advances
Petroleum stocks send VN-Index down
Petroleum stocks send VN-Index downKim Ngan By Kim Ngan - The Saigon Times Daily HCMC – Petroleum stocks GAS, PVD and PVT on October 13 shed around 2% each on news that the Organization of Petroleum Exporting Countries (OPEC) continued to boost crude production despite an oversupply, sending the VN-Index down after three consecutive winning sessions. Closing the trading day, the main index slid 1.26 points (0.21%) to 590.84 points with GAS alone taking away 0.98 point. Investors changed hands 115.3 million shares worth VND1.9 trillion on the Hochiminh Stock Exchange, falling 38% compared to the session earlier. The put-through market remained active with 13.3 million shares worth VND239.7 billion changing hands. Notably, investors traded over nine million HAG shares in bloc deals. According to vietstock.vn, finance and bank tickers like BVH, VCB and SSI ended in the red. Losses of the index drivers were attributed to a liquidity drop on the HCMC … [Read more...] about Petroleum stocks send VN-Index down
WB raises growth forecast for VN
Illustration photo The news was announced by the international lender on December 11 in Ha Noi while publishing an annual review report on Vietnamese socio-economic performance. The WB projected that on the basis of achieved progress, Viet Nam would be able to raise productivity rate, necessary skills and infrastructure; cement and deepen business environment reform.In the medium term, growth rate would be stable at about 6.5% and inflation would be kept at low level.Mr. Ousmane Dione, the Country Director for the World Bank in Viet Nam was quoted as saying that the growth trend in developed countries have been promoted and the global trade showed signs of recovery. Thanks to higher incomes and lower poverty rate, the Vietnamese economy would enjoy a thriving year with high economic growth rate and stable macro-economy. Meanwhile, Mr. Sebastian Eckardt, the WB’s Lead Economist for Viet Nam analyzed … [Read more...] about WB raises growth forecast for VN
VN to halt illegal fishing by 2025
The National Assembly has passed a revised law on fisheries as Việt Nam prepares a national plan to prevent, minimise and eliminate illegal fishing by 2025. Deputy Minister of Agriculture and Rural Development, Vũ Văn Tám, talks with the Tin Tức (News) newspaper about the issue Could you explain the regulations on licensing fishing, catch quotas, and fishing capacity in the newly-adopted revised Law on Fisheries? The revised law progresses from the Law on Fisheries issued in 2003 and now complies with international laws on protection of aquaculture resources. The regulation on fishing licensing is a form of management applied in many countries. Granting quotas would be based on evaluation of aquaculture reserves to ensure sustainable exploitation. The granting of licences would be decentralised to provincial people’s commitees. At present, on-shore fishing has been over-exploited in many provinces. Has the new revised law any regulations dealing with … [Read more...] about VN to halt illegal fishing by 2025