Bright spot when eyes closed

The Hanoitimes - The daily turnover in Vietnam’s stock market has been extremely high for the last several months, said the head of independent Finish fund manager Pyn Elite Fund. Vietnamese listed companies’ first quarter earnings reports in April will indicate strong earnings growth for many businesses in the year 2021. Petri Derying, portfolio manager of Finland-based Pyn Elite Fund. Source: arvopaperi.fi Petri Derying, portfolio manager of Finland-based Pyn Elite Fund, wrote in a note, discussing the prospect of Vietnam’s economy this year. “Covid crisis is still slowing down many economies, but it is likely, that in the year 2021 we will see strong growth globally due to last year’s poor numbers,” said Derying. According to Derying, there is already evidence of the robust growth in Vietnam’s exports in the first six weeks of the year with a turnover of US$38.57 billion, up 36% year-on-year. “These numbers indicate very strong growth for the whole year, while the strongest growth was in exports to China,” he said. Meanwhile, the daily turnover in Vietnam’s stock market has been extremely high for several months already, Derying added. “The turnover and the spike we’ve seen in VN-index are thanks to the local investors,” he stated, noting in January the foreign investors were net sellers for US$74 million. However, in February the tide turned and the foreign investors have been net buyers for US$62 million. “We expect this trend to continue,” he concluded. In early February, Derying stated the year 2021 “looks very good for the Vietnamese stock market”, saying the economy is ready to achieve a record expansion, the listed companies’ earnings growth will surprise on the positive side, and stocks are priced attractively. Pyn Elite Fund expected the Vn-Index to soon reach 1,800 points, thanks to the companies’ earnings growth forecasts, the strong outlook of the Vietnamese economy and the opportunities presented by the …

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It had taken just 30 minutes for Cong, deputy head of the laboratory and diagnostic imaging department at the Binh Thanh District medical center, to finish preparing swabbing kits, protective clothing and necessary documents. It was still dark as the 36-year-old Cong, along with four colleagues, began conducting random Covid-19 tests in areas around the Mien Dong (Eastern Region) Bus Station in Saigon for the 12th day. From 5 a.m. to 7 a.m., they worked with local medics to take 100 samples of people from Hanoi and the provinces of Gia Lai, Kon Tum and Dak Lak in the Central Highlands. Then the group quickly returned to their office to start other work. Medics take random swab samples at the Mien Dong Bus Station every morning, February 2021. Photo by VnExpress/Thu Anh. One of them took the samples to the Thu Duc Hospital for carrying out RT-PCR tests. Some received people coming from Covid-19 hotspots to check their medical declarations and take their swab samples. Others traveled to two quarantine facilities in Wards 21 and 28 to take swab samples of those under centralized quarantine. After a long day, at around 6 p.m., they started traveling with medics in the district to take random swab samples at local restaurants. It was midnight when the medics returned to their office yet again. The team members have been traveling from place to place and working around the clock for a month, Cong said they initially collected test samples at the Tan Son Nhat International Airport; and after an infection chain was found, they moved on to locked down neighborhoods and worked with the residents there. In collecting samples at bus stations, they had to work from 4 a.m. to 6 a.m., said Ho Minh Hoang, head of the medical center in Binh Thanh District’s Ward 26. This means the team members had to be up at 3 a.m. to prepare, which was exhausting. Hoang and Cong later suggested that the HCMC Center for Disease Control (CDC) and bus stations allow …

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On behalf of the real estate enterprises, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HOREA), said that compared to the previous year, there was an additional petition of Gamuda Land Joint Stock Company. The petition states that while waiting for the Prime Minister to decide on a VND514-billion deduction following the recommendations of the Government Inspectorate, over the past time, construction investment and business activities of the company have been stagnant, affecting the reputation and brand of this company in 10 years of operation in Vietnam. As for the matter of social housing, Mr. Le Huu Nghia, CEO of real estate developer Le Thanh, said that they were considering whether to develop social housing again. Because of too many difficult procedures, many people advised him to play safe by switching to develop commercial real estate. At the Le Thanh Tan Kien social housing project in Binh Chanh District, although the HCMC People's Committee had directly instructed to remove obstacles, after three years of implementing the project, now it backs to square one. Although the regulation for the processing time of the application by authorities is 215 days, in fact, the processing of the application can take a lot longer than that because the application must be transferred between departments and districts. Even a document from the urban management office to the district People's Committee takes several months. Moreover, although the social housing projects are invested by enterprises from start to finish, they are audited as projects using capital from the State budget. Meanwhile, the auditors are too strict. They slap them with high fines on petty mistakes, discouraging investors, Mr. Le Huu Nghia explained. Le Thanh Company is one of 20 enterprises that have petitioned the city through the summary of HOREA. This list shows that many petitions had been raised by investors at meetings with the city leaders in the past years, …

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