VN-Index surpasses 790 points

Longer morning stock market hours aim to promote liquidity (16-05-2009) HA NOI — Stock market trading hours will be extended by 15 minutes in the morning from next month following the State Securities Commission approval. The longer trading hours will help activate transactions and promote market liquidity, commission Market Development Department head Nguyen Son said. The commission is working with stock exchanges and the securities depository centre to revise the capacity of technical and payment systems for the longer trading hours, Son said. Previously, the commission planned to lengthen the trading hours to the whole afternoon which would have helped investors catch up with what was happening in the world market, he said. "But the extra session needed more advancing technical and payment systems which take time to get working well." In the attempt to promote investment activities in equity market, the commission submitted a draft on a trading method to the Ministry of Finance in which it allowed investors to open more than one account and sell or buy in the same session. At present, an investor has only one account open in one securities firm and each investor is allowed to sell or buy shares in a single session. — VNS... [read more]

The cyber attack that crippled Ukraine businesses and spread worldwide to shut down shipping ports, factories and businesses has taken a costly toll on the results of major U.S. and European companies in the latest quarter, with more to come. A man types into a keyboard during the Def Con hacker convention in Las Vegas, Nevada, U.S. on July 29, 2017. Cadbury chocolate maker Mondelez and freight logistics company FedEx Corp (FDX.N) are among five multinational firms, three from the United States and two in Europe, to report material financial damage in the closing days of the second quarter from the cyber "worm" known as NotPetya. Mondelez International Inc (MDLZ.O), the world's second-largest confectionary company, reported a 5 percent drop in quarterly sales on Wednesday, blaming shipping and invoicing delays caused by the attack on computer networks that started on June 27. Seven more major international companies, five based in Europe and two in Russia, which acknowledged they suffered disruption, are only due to report quarterly profits later in August. Investors should get used to hearing about cyber attacks during earnings calls, said Ian Winer, equity co-head at Wedbush Securities. "The trend is accelerating," Winer said. "As hackers get more sophisticated they are taking shots at major companies." More hackers are becoming adept at developing or finding malware to wipe data on computers, making them inoperable. Danish shipping company AP Moller-Maersk S/A (MAERSKb.CO), which handles one out of seven containers shipped globally, said a cyber attack had caused outages at…... [read more]

NDO - The EU-Vietnam Free Trade Agreement (EVFTA), which is considered a comprehensive trade agreement covering a wide area of sectors and also has an equal elimination of tariffs from both sides, is anticipated to bring about benefits and opportunities for both economies in multiple ways throughout the years. According to the agreement, the EU and Vietnam has committed to further market access and the removal of over 99% of tariffs on industrial and agricultural products, in addition to zero-duty Tariff Rate Quotas on a number of goods including clothing, footwear, seafood, tropical agricultural products, furniture and others which will come from Vietnam and automobiles, machinery, equipment, beverages, medicine, and temperate agricultural products and others which will come from the EU. In addition, the two sides' commitments on services sectors go largely beyond both WTO commitments and any other FTA that Vietnam has concluded. Therefore, EU companies will have more benefits when investing and doing business in the Vietnamese market, particularly in the sectors of their strength which include finance, banking, insurance and maritime transport. Vietnam's commitments to ensure an open and transparent investment and business environment will help to boost high quality investment from the EU into Vietnam. With anticipated benefits from the agreement along with the establishment of the ASEAN Economic Community in late 2015, Vietnam will have an opportunity to become a hub of trade and investment between the EU and ASEAN countries. Furthermore, Vietnam has made commitments in regards to new areas which include government procurement,…... [read more]

SCG reports the operating results for the first half of the year, showing similar profit year-on-year due to good performance from the first quarter. RELATED CONTENTS: SCG gunning for increased market share after takeover PM asks Thailand’s SCG group to expand investment in Vietnam Long Son petrochemical complex settles last issues before implementation Siam Cement Group acquires construction material company in central Vietnam SCG now sole foreign investor in Long Son refinery Vina Kraft Paper fires up second production line in Vietnam SCG inspires kids to become “little green citizens” SCG not giving up Vietnam cement plan despite oversupply SCG reveals that investment strategies for a sustainable ASEAN are going according to plan, with approval for the first petrochemical complex in Vietnam with world-class technology. Moreover, the company made significant headway with innovation with the recent success in connecting collaborations from research institutions, science and technology entrepreneurs, and startups worldwide. This emphasises SCG’s dedication to innovative products and services and faster achieving market and consumer needs. Roongrote Rangsiyopash, president and CEO of SCG, disclosed the company’s unreviewed operating results for the second quarter, with registered revenue from sales of VND72.55 trillion ($3.173 billion), remaining flat year-on-year. In consequence, profit for the period reached VND8.835 trillion ($386 million), a decrease of 17…... [read more]

NDO – The eighth International Exhibition on Advertising Equipment and Technology – VIETAD 2017 officially opened in Ho Chi Minh City on August 3. The exhibition draws the participation of nearly 100 domestic and foreign enterprises, and is featuring 300 pavilions. On display are numerous products in different fields including LED equipment, machines and technology; advertising equipment, materials and gifts; printing materials and supplies; communication service; and decoration. At this year’s event, the organising board launched an online advertisement page to support enterprises in introducing their products and services. VIETAD has become the largest international exhibition in regards to advertising equipment and technology, establishing partnerships with the largest advertising exhibition in Asia. In addition, VIETAD has affirmed its role in the Vietnamese advertising industry, becoming a forum for both domestic and foreign businesses to exchange their experience as well as seek new cooperative opportunities. According to many experts, the free trade agreements that Vietnam has joined have fostered favourable conditions for Vietnamese enterprises to enter the regional and international markets. Therefore, enterprises in advertising equipment and the technology industry should improve their capacity to exploit the efficiency of the exhibition to bring Vietnamese products to major markets such as ASEAN, the US, and Europe. The exhibition will last until August 6.... [read more]

With its positive macroeconomic development and political stability, Vietnam is becoming an attractive destination for foreign investors. And, M&As are given priority because this is the quickest method for foreign investors to enter the Vietnamese market. Improving the environment for better competition According to a research by Jones Lang LaSalle Group (LJJ), macroeconomic indicators, curbed inflation and impressive GDP growth are important factors for investors to consider entering the Vietnamese market. These have helped Vietnam draw a significant value of foreign direct investment (FDI). The JLL research showed that FDI flows were on the upward trend in the first half of 2017. Vietnam attracted about US$19.2 billion of FDI in the six months, up 54.8 per cent year on year. As such, the country remained one of potential investment destinations in Southeast Asia. JLL anticipated that the property market will continue to be active and attract foreign investors in 2017, driven by a host of mergers and acquisitions (M&As). In particular, the hotel segment is drawing the greatest interest of foreign investors. This is completely understandable as the tourism industry is thriving on loosened regulations on visa stay and good tourism infrastructure investment. “We expect this trend will continue in the coming time. Besides, other markets such as industrial zones and education are constantly growing. The affordable housing market is seen as a source of investment capital, largely due to the rise of the middle class,” JJL said. JJL visited that hundreds of millions of…... [read more]

From early 2017 till now, many commercial banks have almost reached the lending growth cap set by the State Bank of Vietnam (SBV) and are now requesting SBV to set a higher credit growth limit to ensure more room for lending. SBV forecast to raise credit growth by 1-2% Tentative banks slow hi-tech agricultural credit package Creditors adjust growth forecasts Running out of lending room In the first half of 2017, Vietnam International Commercial Joint Stock Bank (VIB) has almost reached the lending growth cap of 16 per cent. Its outstanding credit balance was nearly VND75.7 trillion ($3.3 billion), an equivalent credit growth rate of 15.7 per cent. Most of VIB’s credit growth derives from retail loans, which rose more than 30 per cent compared to the end of 2016. Thus, while the cap for VIB was 16 per cent for the whole year, VIB’s credit growth has been 15.7 per cent in the first half. Han Ngoc Vu, general director of VIB, said that the bank proposed SBV to raise the credit growth limit. If the proposal is approved, VIB will have more room for lending, especially at the end of the year when the demand for borrowing usually increases. After the first six months of 2017, Vietnam Prosperity Joint Stock Commercial Bank (VPBank)’s credit growth rate was 12 per…... [read more]

The Vietnamese home appliance industry is luring in numerous foreign manufacturers from Thailand and China, making it harder for domestic enterprises to gain significant market share in this field. Taiwan campaign presents new products to Vietnam European home appliances brand Beko enters Vietnam Nguyen Kim seen replacing The Gioi Di Dong at Big C The new appearance of Vietnamese brands In the past two years, the home appliance industry in Vietnam was taken by surprise by the appearance of Vietnamese brands, such as VnTech, Asanzo, and Korihome. Although these domestic enterprises are small and not as popular as industry giants like Benny, Philips, Elmich, Kangaroo, Bluestone, Gowell, Sunhouse, and Goldsun, they are forecasted to gain strength and become formidable competitors in the long term. Established in 2016, VnTech is a joint venture of Vietnam Electrical Technology-Electronics Company Limited, Vietnam Home Appliances JSC, and Cong Hoan Commercial Services Cooperative. VnTech targets to focus on the affordable home appliance market. Asanzo is also a Vietnamese brand that was launched in 2014. To date, the company has developed several simple products, such as super-speed electronic kettles and rice cookers. Meanwhile, the Korihome brand of Tecomen JSC is a luxury home appliances brand with smart technology and modern design. Its two main product lines are RO water purifier and South-Korean-style home appliances. Le Khac Hoa,…... [read more]

Nguyen Chi Dung, Minister of Planning and Investment, stressed that Vietnam needs the private sector to step up to its responsibilities and aspirations and grow stronger, faster, to truly become the driving force of the economy. Minister of Planning and Investment     Nguyen Chi Dung 2017 is without a doubt an important milestone in the economic progress of Vietnam, as the 5th plenary meeting of the Party Central Committee issued Resolution No.10-NQ/TW on developing the private sector into an important driving force of the socialist-oriented market economy. Has the private sector ever reached this position before? Looking back at 30 years of doi moi, one of the most important achievements was to promote the private sector. Many new mechanisms and preferential policies were put in place to facilitate the growth of the private sector, promoting the business spirit of Vietnamese people and enterprises. The private sector has made numerous important contributions to the progress of Vietnam, from contributing to the national budget, creating jobs, to helping reduce social problems. In terms of GDP structure, the private sector has contributed the most in the past few years. Since 2010, the sector has contributed more than 43 per cent of the GDP each year. In comparison, the state sector has contributed 28.9 per cent of the GDP, and FDI 18 per cent. The number of private enterprises has also increased sharply. In 2016, the number of newly formed enterprises…... [read more]

With the total consumption of about 3.8 billion litres of beer each year, Vietnam is an attractive market luring in numerous foreign investors, and in the upcoming period, a Taiwanese brewer may join and heat up the competition. Australian brewer eyes Sabeco and Habeco shares Proposal to make alcohol firms pay health tax Alcohol laws experience overwhelming backlash ​A bait suiting big foreign brewers’ taste As reported by newswire Enternews, Taiwan Tobacco and Liquor Corporation (TTL), the leading and largest tobacco and liquor company in Taiwan, has been scheduled to enter the Vietnamese market. Accordingly, this brewer plans to distribute three beer brands in Vietnam, including Golden Medal Taiwan Beer, Taiwan Beer Sweet Touch, and a special, pineapple flavoured beer. Previously, Taipei Times reported that TTL had joined the Philippines market in January 2017 and the Singaporean market in 2011. Chang Lei-min, vice chairman of TTL, said that with the fruit-flavoured beer products, which have never appeared in Vietnamese before, TTL will flourish in the Vietnamese beverage industry. TTL hopes to sell 38 million litres of beer in Vietnam a year. Also, it expects to hold 1 per cent of the market share within three years. Besides the plan on distributing beer products in Vietnam, TTL also targets hiring a Vietnamese brewery to manufacture its products, and constructing its…... [read more]

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