Bond issuance 2018

Only its Hanoi headquarters would remain operating starting July 1 to reduce expenses to the minimum, said Deputy CEO Do Hoang Minh, who is leading the company after his father and company Chairman Do Anh Dung was arrested. The State Securities Commission of Vietnam in early April canceled the nine bond issuances of Tan Hoang Minh valued at a total VND10 trillion ($437 million). Police then arrested Dung and six others for alleged fraud as investigators found that Tan Hoang Minh’s subsidiaries had been buying bonds from each other and inviting investors to become "partners" in such purchases. Since then, the defrauded investors have been showing up at Tan Hoang Minh’s headquarters and the Ministry of Finance and State Securities Commission of Vietnam (SSC) to seek justice. Minh said the "unfortunate events" had caused negative impacts on all aspects of the company, including its customers. Tan Hoang Minh has arranged around VND2.1 trillion to refund its customers and is … [Read more...] about Tan Hoang Minh office closure to aid investor reimbursement

About 2.47 quadrillion VND was raised for the State budget in the primary G-bond market over the last 12 years. (Photo: VNA) Hanoi (VNA) – The Government bond market of Vietnam officially became operational at the Hanoi Stock Exchange (HNX) on September 24, 2009. Since then, about 2.47 quadrillion VND (108.5 billion USD) has been raised for the State budget from the primary market to support socio-economic development in the country. More than 206 trillion VND worth of G-bonds has been raised for the State budget annually, accounting for almost 10 percent of total investment in society in 2020 and 28.3 percent of that by the State sector last year. Bond issuance volume up, interest rates down The HNX said that in order to mobilise the above mentioned sum of money, it has organised more than 2,600 auctions, with 60 - 70 percent of the bonds offered successfully sold on average. Notably, interest rates in the G-bond market have declined considerably over the past 12 … [Read more...] about Over 108.5 billion USD raised from primary G-bond market in 12 years

Gloom has set in in many localities including Bao Loc (the Central Highlands province of Lam Dong), Dac Nong, Binh Phuoc, Ba Ria-Vung Tau, and Binh Thuan, whose real estate markets used to be hot a few months ago.— Photo datxanhgiatrithuc.com Tran Trung Thanh, a real estate broker in Binh Thuan and Ba Ria-Vung Tau provinces, said since the beginning of April demand for agricultural lands has seen a sharp slump. The number of people who want to sell land is higher than those who want to buy, he said. Gloom has set in in many localities including Bao Loc (the Central Highlands province of Lam Dong), Dac Nong, Binh Phuoc, Ba Ria-Vung Tau, and Binh Thuan, whose real estate markets used to be hot a few months ago. Even the housing segment has shown signs of slowing down in many localities due to falling demand on both the primary and secondary markets. HCM City is a typical example. The country’s economic hub always has high demand for housing and faces a serious shortage of … [Read more...] about Real estate market slumps as banks cut off funds

Vietnam expects to create the utmost favorable environment for foreign companies to be successful in the country. Chairman of the National Assembly Vuong Dinh Hue on June 29 held several meetings with executives of UK multinationals, including Prudential, Standard Chartered, Pacific Land, Pearson, and Enterprize Energy. All executives have expressed their good impression and pledged to commit long-term presence in Vietnam. NA Chairman Vuong Dinh Hue and President of Prudential Shriti Vadera. Source: VNA President of Prudential Shriti Vadera said the company's business performance was positive during the Covid-19 pandemic, expressing her delight to be part of Vietnam’s development. Vadera suggested Prudential could further contribute to the country’s economic growth  by taking part in the long bond issuance. Chairman Hue welcomed Prudential’s successes in Vietnam, saying insurance corporations remain key partners of the State in Government bond issuance. … [Read more...] about UK multinationals pledge long-term presence in Vietnam

At a time of rampant unverified and fake news, official and credible information provided by the press has been guiding the businesses forward. The media outlets have shown their  role in addressing the concerns of businesses at a time when the latter was struggling with the Covid-19 pandemic impacts. Overview of the forum. Source: VNA Editor in chief of Nhan Dan Newspaper Le Quoc Minh stressed the view at a forum titled “The partnership between the press and businesses for a prosperous Vietnam” today [June 29]. “During the pandemic when   unverified and fake news are being spread rampantly, official and credible information provided by the press has been guiding the businesses forward,” he continued. "Such a relationship has also been reflected through the partnership between the press and companies in brand building or product advertising," said Minh. Minh expected the press to continue serving as a bridge between the business community and the … [Read more...] about Media outlets and businesses form strong bond in difficult times: Experts

Ambassador of Luxembourg to Việt Nam, Jean-Paul Senninger, writes for Việt Nam News on Luxembourg’s National Day (June 23) In 2023, Việt Nam and Luxembourg will celebrate their 50th anniversary of diplomatic relations. Since then, the world has changed significantly, and so have our countries. Since the outset, our countries have nurtured excellent bilateral relations, which encompassed significant support to Việt Nam’s rural, health and tourism sectors. These building blocks supported Việt Nam’s successful SDG agenda and paved the way, in recent years, to close cooperation in the banking and finance sectors, as well as academia and research. Beyond these sectors, we see tremendous opportunities in digital innovation, start-ups, green energy, circular economy, health tech, automotive and logistics. Bourscheid Castle in north-eastern Luxembourg. The medieval castle, which stands on a site with archaeological evidence of structures dating back to Roman times, is a tourist … [Read more...] about Luxembourg and Việt Nam to celebrate 50 years of friendship

Customers at Vietcombank (VCB) branch in the Central Highlands province of Kon Tum. The total operating income of 27 listed banks in the first quarter of 2022 increased by 8.2 per cent compared to the previous quarter.-VNA/VNS Photo In the past three months, banking shares witnessed sharp declines and were among the most negatively impacted on the stock market. Most banking stocks decreased by over 30 per cent and there was no single bank seeing positive growth. The decline was attributed to stricter control of credit flows, increasing bad debts mainly caused by real estate businesses, corporate bond inspection at banks and inflationary pressure which have affected investor sentiment. However, after a series of deep declines, many banking stocks are rebounding strongly in recent sessions. This brings hope to many investors in this industry group. In a newly released report, FiinGroup said that the total operating income of 27 listed banks in the first quarter of 2022 … [Read more...] about Banking shares plummet to attractive prices

The government has already made strong efforts to boost the domestic business environment, Le Toan With the National Assembly (NA) urging the government to quicken the implementation of the country’s Programme on Socioeconomic Recovery and Development (PSRD) backed by a monetary and fiscal policy worth $15 billion in a bid to provide more assistance to struggling enterprises and people, Deputy Prime Minister Pham Binh Minh has reported to the NA that the government will do its best to continue carrying out this great mission. “So far, the government has promulgated six decrees to implement many initiatives on the exemption, reduction, and extension of tax payment, land rental, and lending rate assistance,” Minh said. “The prime minister has also enacted decisions on providing support in the form of housing rental for labourers, providing concessional loans for pupils and students, and privately-owned nursery schools and primary schools.” The government has also announced an … [Read more...] about New principles deployed for policy funding

Wood products to be exported to the EU. — VNA/VNS Photo HÀ NỘI — Việt Nam is set to grant a licence under the Voluntary Partnership Agreement/FAO-EU Forest Law Enforcement, Governance and Trade (FLEGT) Programme to wood exports in 2025, after it completes preparing necessary conditions, reported a Government official familiar with the sector. Bùi Chính Nghĩa, deputy general director of the Vietnam Administration of Forestry, reported the new developments at a June 17 workshop held by the administration, the Vietnam Timber and Forest Product Association, and the Association of Handicraft and Wood Industry of HCM City (HAWA). He pointed out that despite an annual double-digit growth rate, the country’s wood industry is still facing numerous challenges in 2022. Apart from the pandemic, escalating political tensions have caused more challenges to supply chains, soaring logistics costs and material prices have resulted in higher input costs. Inflation in key export markets … [Read more...] about Việt Nam to grant FLEGT licence to wood exports in 2025

At the launching ceremony (Photo: Vietjetair.com) Hanoi (VNA) – Vietjet has officially launched four more services linking top destinations of Vietnam and India including Ho Chi Minh City/Hanoi – Mumbai and Phu Quoc – New Delhi/Mumbai. The new routes’ launch ceremony was held in Mumbai during the visit of Ho Chi Minh City’s leaders to Mumbai as Vietnam and India mark their 50th anniversary of diplomatic relations. The ceremony witnessed the presence of Phan Thi Thang, Vice Chairwoman of People’s Committee of Ho Chi Minh City, representatives of Consulate General of Vietnam in Mumbai and Vietjet’s leaders. The Phu Quoc – Mumbai route will operate four weekly flights on every Tuesday, Thursday, Saturday and Sunday, starting from September 8, 2022. The services between Phu Quoc and New Delhi will commence on September 9, 2022 with three weekly flights on Wednesday, Friday and Sunday. The Ho Chi Minh City/ Hanoi – Mumbai routes started operation in early June, 2022. The … [Read more...] about Vietjet launches four routes linking top destinations of Vietnam and India