Markets

Gas tanks produced at PV Gas South under PetroVietnam Gas JSC (GAS). GAS lost 3.4 per cent Monday. — Photo pvgas.com.vn Vietnamese shares gave up initial gains on Monday as investors dumped stocks in the large-cap group, pushing down indices. The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) lost 0.16 per cent, to 1,350.48 points. The market's breadth was negative with 197 stocks increasing, while 234 stocks declined. Investors poured over VND24.5 trillion (US$1 billion) into the southern bourse, equivalent to a trading volume of nearly 894.6 million shares. The VN30-Index, tracking the 30 biggest stocks in market capitalisation on HoSE, posted a gain of 0.21 per cent, to 1,458.66 points. Of the VN30 basket, 13 stocks climbed, while 15 slid. Banking stocks maintained their gains until the end of the afternoon trading session, strongly supporting the indices. The best performers in the group included Bank for Investment and Development (BID), Vietinbank …

[Read more...] about Shares trim early gains as large-caps falls

Viettel's headquarters in Ha Noi. — Photo congthuong.vn According to an announcement from the Ha Noi Stock Exchange (HNX), the exchange will hold an auction for Vinh Son JSC shares, owned by Military Industry and Telecoms Group (Viettel), on Tuesday. The auction offers a batch of shares with a volume of nearly 4.6 million units, equivalent to 39.9 per cent of Vinh Son's charter capital. The starting price of the auctioned shares is nearly VND922.5 billion (US$40.3 million). In the latest update, there has been one Vietnamese individual registering to buy all shares in the batch of this auction. The deadline for submitting the competitive offer form is at 2pm on Tuesday. Vinh Son has a charter capital of VND1.15 trillion. As of June 30, the company’s shareholder structure has three shareholders including two organisations and one individual. Of which, Dragon Village Real Estate JSC owns 60 per cent, Viettel holds 39.9 per cent and Nguyen Khanh Trung personally owns 0.1 per …

[Read more...] about Viettel to sell nearly 40% of Vinh Son shares

Reviewing production projects to ease difficulties and create export goods Vietnam's processing and manufacturing industries are highly dependent on imported input materials and components because of the country’s underdeveloped supporting industry, especially in key sectors such as electronics, textiles, leather, automobile manufacturing and assembling. Since the outbreak of Covid-19, many Vietnamese businesses have shifted to domestic suppliers to overcome global supply chain interruptions and save costs. “The move could promote the development of the manufacturing and assembly of finished products, turn Vietnamese key processing and manufacturing enterprises into big groups in the region, leading to supporting industry development,” the MoIT announced. Moreover, a large number of foreign businesses have flocked to Vietnam to access tax and investment incentives provided by various free trade agreements (FTAs) to which it is a signatory. The MoIT said foreign-invested …

[Read more...] about Ministry to focus on supplying goods for export

The Vietnamese aviation authority is carrying out the process of granting an import license for the aircraft into the country. The Civil Aviation Authority of Vietnam (CAAV) has proposed the Ministry of Transport (MoT) allow Boeing 737 Max airplanes to enter Vietnam’s airspace after a two-year ban. Boeing 737 Max airplanes are proposed to fly back in Vietnam. Photo: Boeing The CAAV also asked the ministry to authorize the import of the Boeing 737 Max airplanes into Vietnam. This proposal came after the discussion between the head of the CAAV and Boeing’s representative about the current situation of this aircraft around the world. It is based on the evaluation results of these countries’ aviation authorities and the safety index of the Boeing 737 Max aircraft after its resumption. Previously, in March, the local authority also submitted a report, which cited Boeing’s efforts to address technical issues of the aircraft model and assessment from aviation …

[Read more...] about Boeing 737 Max aircraft expected to fly in Vietnam soon

Supermarkets have cooperated with businesses and distributors to run promotions and discounts during the Mid-Autumn Festival. The 2021 Mid-Autumn Festival this year is unlike previous years, no mooncake stalls are seen on the sidewalks of streets due to strict social distancing in the capital city. The traditional pastry is sold mainly in supermarkets for safer shopping amid the Covid-19 pandemic. The big day is on Tuesday [September 21], and supermarkets are bustling with many people coming to buy the popular mooncake brands like Kinh Do, Huu Nghi, Bibica, Dong Khanh, Hanoi Confectionery, Madam Thu Huong, and among others. Before the Covid-19 pandemic broke out, mooncakes sold well at this time of year. Not only famous brands, hotels and restaurants have also released mooncakes of their own brands. A moon cake kiosk in BigC Thang Long in Hanoi. Photo: Thoi Nguyen “The mooncakes of restaurants and hotels or bakeries brands diversify offers in the …

[Read more...] about Mooncake heats up in Hanoi’s supermarket amid pandemic

To encourage consumers to buy their products, Vietnamese well-known mooncake makers have offered discounts. Almost a week to go to the 2020 Mid-Autumn Festival, Vietnam’s mooncake market has not heated up, thus, mooncake dealers are offering discounts to stimulate consumption, Kinh Te & Do Thi reported. As one of the biggest festives in Vietnam, this time of the year is usually a busy season of moon-cake business. However, unlike previous years, sales of mooncake are stagnant. Unlike previous years, sales of mooncake are stagnant. Photo: Internet To encourage consumers to buy their products, well-known mooncake makers, including Huu Nghi, Hanoi, Kinh Do, have offered 10-15% discounts over the normal prices. Supermarkets are also implementing promotions and discounts. The Vinmart supermarket chain is running the promotional program "Happy Mid-Autumn Festival with Vinmart" and reducing its prices from VND30,000-50,000 (US$1.29-2.14) on all Vinmart-brank …

[Read more...] about Mooncake dealers in Vietnam offer discounts on Covid-caused bleak sales

Chairwoman of the municipal People’s Council Nguyen Thi Le (2nd, R) and frontline healthcare workers visit Cu Chi Tunnel. (Photo: SGGP) Dr. Nguyen Hoang Chinh of Hanoi’s Bach Mai Hospital who traveled to HCMC to support the city’s healthcare sector in fighting the pandemic was one of the 108 tourists visiting the revolutionary historical relic site of Cu Chi Tunnel . He said that it was the first time that he visited Cu Chi Tunnel. The trip was an exciting experience to enjoy a pure and fresh atmosphere as well as learn about the heroic struggle of the army and people in Cu Chi. Chu Tu Tam, a fifth-year student of Military Medical Academy hoped to organize a trip for his family to visit HCMC’s destinations, including Cu Chi Tunnel. The self-contained tours on closed roads took visitors to Rung Sac Military Base, Dan Xay and Vam Sat Tourist Areas in Can Gio District; Ben Duoc Tunnels, Hoang Cam smoke-less stove, Tam Tan Ecological Tourist Area and other popular attractions in …

[Read more...] about HCMC offers experimental tour visiting Can Gio, Cu Chi to frontline force

News of reopening economic activities in HCMC boosted investor sentiment in the morning and pushed the index up 13 points in the early afternoon, though selling pressure quickly pulled it down to close with a two-point drop. Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 5 percent to VND24.53 trillion ($1.08 billion). Foreign investors ended a chain of 16 net selling sessions with a VND56 billion net buy. Their top purchases were VIC of biggest private conglomerate Vingroup, and NVL of real estate developer Novaland Group. The VN30 basket, comprising the 30 largest capped stocks, saw 15 tickers in the red, led by GAS of state-owned Petrovietnam Gas with a 3.4 percent drop. The ticker pulled VN-Index down by 1.6 points. GVR of Vietnam Rubber Group fell 3 percent. MSN of conglomerate Masan Group lost for the second session after a four-session gain, shedding 2.1 percent. Other losers included SAB of brewer Sabeco and TPB of …

[Read more...] about VN-Index slips after three green sessions

Foreign invested enterprises (FIEs) have suggested a strategy on controlling the pandemic in every area so as to safely restore production and business activities. A number of associations of enterprises, including AmCham Vietnam, the US-ASEAN Business Council, EuroCham and KoCham have made proposals related to the PM. They believe Vietnam needs to act promptly to maintain its competitiveness in the region and the globe, while avoiding lagging behind in economic recovery. The enterprises said they want to join forces with the PM, Government and localities’ leaders, especially HCMC, the southern economic zone and Da Nang, to reopen the economy in a safe way and establish the new normal status. They need to know clearly the roadmap for the reopening of the economy. Some surveys conducted by the associations found that 20 percent of their members have relocated some production activities to other countries. Believing that Vietnam is missing investment opportunities, the …

[Read more...] about Foreign-invested enterprises urge prompt action to prevent recession

Since August, Vietnam’s export sector has started to feel the devastating effects of the pandemic and strict social distancing measures in many localities nationwide plus the disruption of supply chains and production. According to a report by the Ministry of Industry and Trade (MIT), Vietnam’s export sales in August 2021 were estimated at US$26.2 billion, a decline of 6% from July. Of this, the domestic sector gained US$6.94 billion, down by 9.7% from the previous month, while the foreign investment sector—including crude oil—reached US$19.26 billion, down by 4.5%. Compared with the same period of last year, August export value fell by 5.4%, of which the domestic sector saw a drop of 13.9% and the foreign investment sector, including crude oil, suffered a slight decline of 1.9%. During the Jan. – Aug. period, goods export sales reached US$212.55 billion, a rise of 21.2% year on year. Also in August, the annualized revenues of the three key export groups all dropped, of …

[Read more...] about Export begins suffering from Covid-19