Bond issuance blockchain

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

Utop – an app for online shopping using blockchain technology by FPT Group. (Photo: SGGP) CEO of Vietnam Blockchain JSC. Do Van Long commented that owing to negative incidents of digital currency, many people tend to think that blockchain is merely digital currency, which is extremely mistaken. In fact, this advanced technology can be used to create digital property or to upgrade existing information management systems to gain a higher level of security and transparency. Technology Director of FPT Group Vu Anh Tu also stated that besides the popular use of blockchain in digital currency, it can effectively boost innovative technological startups thanks to its wide applications. Statistics from Vietnam Blockchain Association reveal that among 200-top successful blockchain enterprise in the world, 7 were founded by Vietnamese people. Vietnam is one of five leading countries in this technology. At present, about 10 Vietnamese innovative startups in the blockchain field have the … [Read more...] about Vietnam to actively apply blockchain technology in various fields

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

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

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