FDI firms provide forthright advice

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As the business community has entered 2014 with new hopes and plans, VIR talks with executives of foreign firms about their expectations on FDI policy improvements. Crispin Bui IBM ASEAN executive and general business manager of IBM Vietnam Since its official return to Vietnam in 1996 as a 100 per cent foreign-invested IT company, IBM has grown fast in the market with serious long-term commitment and focused investments from the corporation. In the past few years, like other investors, we … [Read more...]

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Foreign investors yet to take root

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Although the Red River Delta is an attractive venue for drawing foreign investors in livestock sector, there appears to be an urgent need for better incentives to lure more overseas capital, as VIR's Thanh Thu reports. In early October 2012, US' Cargill Vietnam's ninth Vietnam-based animal feed mill in northern Ha Nam province officially came into operation, with and total investment capital of $18 million and the capability of producing 240,000 tonnes of feed per year. This is the … [Read more...]

BUSINESS IN BRIEF 18/9

US stimulus buoys local shares Stocks on the HCM City Stock Exchange posted modest gains over the course of last week but declined in Ha Noi despite a strong performance on Friday driven in part by the positive response of world markets to the announcement of a new round of US stimulus measures. The US Federal Reserve said last week that it would pump US$40 billion into the economy each month through a bond-buying progamme already being referred to as QE3 (the bank's third round of … [Read more...]

Tongwei’s appetite to succeed

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China-backed Tongwei Company has inaugurated Tongwei animal feed factory in the northern Hai Duong province's Lai Cach industrial zone. The $10 million factory, covering 30,000 square metres, is equipped with the latest technology to process food for domestic animals. The new facility has a designed capacity of 200,000 tonnes per year. … [Read more...]

BUSINESS IN BRIEF 12/7

Strawberry, artichoke cultivated area decreased in Da Lat Recently, the cultivated area under strawberry and artichoke, both famous specialties of Da Lat City, has been decreased due to unstable price factors and spread of plant disease. Ho Ngoc Dinh, chairman of the Farmer's Association of Ward 12 in Thai Phien village in Da Lat City said that the village now has only 40 hectares under artichoke cultivation, a decrease by 10 hectares since last year. From 1997 to 1999, artichoke … [Read more...]

Feed producers’ big appetites

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Many foreign animal feed producers are increasing investment in Vietnam to meet the industry’s rich potential.Japfa Comfeed Vietnam, an affiliate of Japfa - one of Indonesia’s leading groups in producing and trading animal feed and breeding animals, started work on its fifth animal feed factory in Vietnam, with the 7.6 hectare plant in northern Hoa Binh province coming with a VND600 billion ($28.8 million) price tag. “With huge development potential of the animal feed industry … [Read more...]

What’s driving Vietnam’s stock rally?

PXP Vietnam Asset Management CEO and Co-Founder Kevin Snowball discusses Vietnam's current market rally, what could be the driving forces behind it and where he sees opportunities with Bloomberg's Rishaad Salamat on "On The Move." … [Read more...]

Vietnam rally fails to alarm bulls as stocks hit ’08 high

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Vietnam's economy is showing signs of improving health. Inflation slowed to 6.36 percent in May, the least since August 2012, and exports climbed 15 percent in the first five months from last year. … [Read more...]

Foreign investors put trust in Vietnam’s market

Hanoi , May 20 (VNA) - The 18-day flow of money into Vietnam 's stock market suggests overseas money managers are unfazed amid concern that anti- China riots in the country will deter foreign investment and curb economic growth, read a story published by Bloomberg on May 19. It said foreign investors were net buyers on the Ho Chi Minh City stock exchange every day since April 18, the longest stretch of purchases since January. They added about 93 million USD to their holdings even as the … [Read more...]

Bloomberg: Foreign investors put trust in Vietnam’s market

The 18-day flow of money into Vietnam 's stock market suggests overseas money managers are unfazed amid concern that anti- China riots in the country will deter foreign investment and curb economic growth, read a story published by Bloomberg on May 19. It said foreign investors were net buyers on the Ho Chi Minh City stock exchange every day since April 18, the longest stretch of purchases since January. They added about 93 million USD to their holdings even as the benchmark VN Index slumped … [Read more...]

Vietnam bulls unfazed as foreigners see bargains

A man in Binh Duong Province carry a banner calling for peaceful demonstrations against China's move in Vietnam's East Sea, urging protesters not to vandalize companies and factories.

For all the concern that a couple of riots last week in Vietnam will deter foreign investment and curb economic growth, the 18-day flow of money into the country's stock market suggests overseas money managers are unfazed. … [Read more...]

Vietnam stocks lure foreigners as locals spur decade-worst rout

Foreign investors took advantage of Vietnam's biggest stock-market retreat since 2001 to boost their holdings in a bet that losses spurred by escalating tensions with China will prove short-lived.

Overseas money managers purchased a net $11.5 million of securities on the Ho Chi Minh City Stock Exchange yesterday, the most in five weeks, as the benchmark VN Index sank 5.9 percent to a four-month low. Alan Richardson, whose Samsung Asean Equity Fund beat 96 percent of peers tracked by Bloomberg in the past five years, said in an interview yesterday he's been buying. … [Read more...]

Foreign investors cash in on shares

HA NOI (VNS)— Foreign investors turned to sell off shares after a period of being net buyers, although a draft decision has opened opportunities for them to increase ownership in Vietnamese companies. Overseas investors were net sellers for some seven consecutive sessions, at a value of VND155.7 billion (US$7.3 million). Normally, market indexes and domestic investor sentiment falls as foreign investors sell their shares. Interestingly, indexes have gained, as domestic cash poured back into … [Read more...]

Mobius can’t buy enough Vietnam equities on foreign limits

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"It's like a double-edged sword," Mark Mobius, who oversees about $53 billion as the chairman of Templeton Emerging Markets Group, said in a Nov. 5 phone interview from Singapore. "On one hand, it's difficult to get in. But once you're invested, you could do quite well." Photographer: Jerome Favre/Bloomberg The rush of foreign investors into Vietnam's most-favored companies has exhausted the government-limited supply of shares, freezing out some as inflation slows and the economy recovers from … [Read more...]

Economy sees fragile recovery

The economy is seeing green shoots as credit expands, export increases, and the stock market recovers, but the recovery is still fragile and the government needs to do more to ensure stable development, analysts say.

The government has made efforts to cut interest rates and reduce bad debts and inventories of goods, helping businesses recover and facilitate economic recovery, Cao Sy Kiem, chairman of the Vietnam Association of Small and Medium-Sized Enterprises, said. "But the recovery is not very robust." Investors have returned to the stock market. Vietnam's benchmark VN-Index is poised to rally 12 percent by year-end, according to PXP Vietnam Asset Management. Trinh Nguyen, Hong Kong-based economist … [Read more...]

Vietnam to cut deposit rate cap to spur economic growth

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Vietnam's central bank will cut the dong deposit rate cap by two percentage points next week as policy makers attempt to revive the economy and encourage more lending to businesses. The cap will be 9 percent from 11 percent currently and will take effect June 11, State Bank of Vietnam Governor Nguyen Van Binh told the National Assembly Thursday. The reduction will support companies and is in line with easing consumer price gains that are at their lowest since 2010, Binh said. Declines in … [Read more...]

Vietnam stocks to climb 12 pct by year-end on valuations, PXP says

Vietnam's benchmark equity index is poised to rally 12 percent by year-end as the lowest valuations in almost eight months lure investors and inflation slows, according to PXP Vietnam Asset Management.

"We have been buying undervalued stocks in the past week or so," said Kevin Snowball, whose PXP Vietnam Fund Ltd. (VNF) has climbed 39 percent in dollar terms this year, versus 13 percent for the nation's VN Index, data compiled by Bloomberg show. The benchmark gauge will probably advance to about 530 by December, exceeding this year's closing peak of 527.97 on June 7, according to Snowball, the chief executive officer at PXP. The gauge dropped 3.9 percent last month to 472.70, leaving it … [Read more...]

Vietnamese firms need time to list on foreign bourses

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Vietnamese companies generally need around 2 to 3 years to prepare for anoverseas listing, given the differences between international and Vietnamese accounting standards, as well as the high standards required for corporate governance and internal controls, Tony Dang Quoc Tuan, Capital Market Services Leader of PricewaterhouseCoopers Vietnam (PwC Vietnam), tells Vietweek. Vietweek: Recent news reports have said that some Vietnamese companies want to be listed on overseas stock exchanges. Do … [Read more...]

Vietnam’s stock market to prosper in 2013: analysts

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VietNamNet Bridge - Analysts all keep optimistic when giving predictions about the stock market performance in 2013 after several years of staying gloomy. Bloomberg newswire has quoted PXP Vietnam Asset Management as saying that the VN Index, the indicator of the Vietnam's stock market would increase by 33 percent in 2013. Vietnam, the market which has witnessed the best increases in Asia since the beginning of the year, would continue its upward trend in the upcoming months. … [Read more...]

Vietnam stocks to extend best Asia rally on valuations, PXP says

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Vietnamese stocks will extend a rally that has made the VN Index the best performer in Asia this year after its 16 percent surge failed to erase the discount to other markets, according to PXP Vietnam Asset Management. The Southeast Asian nation's benchmark gauge will climb 33 percent in 2013, according to PXP Chief Executive Officer Kevin Snowball. The money manager, whose fund beat 92 percent of its peers in the past month, holds Saigon Thuong Tin Commercial JSB and Ho Chi Minh City … [Read more...]