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/ April 1, 2021

Thriving equity market helps boost business transparency

Traders work at the trading floor of Sai Gon Securities Inc. (Photo: VNA) Hanoi (VNS/VNA) - The development of the equity market will help promote the transparency and corporate governance of listed companies, especially public companies with State capital , an official has said. The statement was made by Dang Quyet Tien , director of the finance ministry's Corporate Finance Department, during a recent seminar in Hanoi. “This will help boost the volume of transactions in the stock market, increasing the liquidity for State shareholders,” Tien said. “There is a problem that has persisted for many years in most State-owned enterprises, which is the ineffectiveness in the management and use of State capital,” he said. “The development of the equity market would help State-owned enterprises be less dependent on bank credit loans, diversifying forms of capital mobilisation.” The Vietnamese stock market has seen remarkable development since its inception, but the rate of capital mobilisation via this market was still very low, said Nguyen Tu Anh, director of the General Economic Department under the Central Economic Committee. “The diversification of products on the market is still poor, resulting in high volatility. At present, idle capital in the economy is quite large, the deposit interest rates of banks have decreased and the interest rates of Government bonds have dropped deeply, which are very favourable conditions to develop the stock market,” he said. “Over the past 20 years, Vietnam’s stock market has made great progress, promoting its role as a capital mobilisation channel for the medium and long term. However, more efforts are still needed to achieve the upcoming development goals,” said Ta Thanh Binh, Director of Securities Market Development Department under the State Securities Commission. “The status upgrade of the stock market needs efforts not only from the securities industry and the stock market regulators but also from …

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/ April 11, 2021

VPBank, AXYS Group join hands to help businesses go online

VPBank and AXYS Group sign cooperation agreement to launch a programme that help Vietnamese firms develop their online business in a sustainable manner in HCM City on April 8. — Photo courtesy of AXYS HCM CITY — Vietnam Prosperity Commercial Joint Stock Bank (VPBank) and AXYS Group that specialises in providing online and business processing outsourcing services have launched a programme to help firms develop their online business. The lender and AXYS’s member companies like Mắt Bão, CHILI, MIFI, ODS, and Navee will help them build a comprehensive online business platform. Participating businesses can choose from between VPBank’s basic support packages on its Simplify portal or the advanced package from the CHILI professional e-commerce website that is integrated with the EcomPay payment gateway. They will get preferential treatment in domain name registration from Mắt Bão. They can also improve their sales and customer care systems through the use of ODS's CloudFone switchboard, MIFI's e-invoice solution and NAVEE’s advisory on online marketing solutions. They will get priority access to credit from VPBank for future expansion. The programme is expected to enable firms to save up to 70 per cent in costs for going online and on human resources, according to AXYS. Lê Thị Diễm Phương, head of card and payment solution – SME division at VPBank, said “We realised that AXYS Group has a sustainable online business eco-system, and decided to … develop this project together.” Huỳnh Ngọc Duy, CEO of Mắt Bão, said: “With nearly 20 years’ experience in e-commerce, AXYS Group believes it can fulfil the mission of helping Vietnamese businesses build sustainable online business platforms.” — VNS …

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/ April 10, 2021

Corporate bond rush heads for slowdown

With Vietnamese regulators’ efforts to minimise the risks of corporate bonds’ mass issuance, the landscape is predicted to be cooled down compared to a frenzy of debt instruments in the previous period. Corporate bond rush heads for slowdown. According to fresh data from the Hanoi Stock Exchange, as of January 22, there were seven successful corporate bond private placements with a total value of $279 million and two public offerings of $70 million. The real estate sector accounted for $233.7 million, equivalent to 66.9 per cent of the total issued value. Previously, over $17.82 billion of corporate bonds were issued last year, which increased by 38.5 per cent from end-2019 and 83.5 per cent from end-2018. Albeit a decline in the last quarter of 2020’s issuance volume the real estate sector witnessed the largest corporate bond issuance volume in 2020 of over $6.09 billion, accounting for over 35 per cent of total issuance value at an average coupon rate of 10.52 per cent. The banking sector also made up for nearly 30 per cent, with an average coupon rate of 6.69 per cent, lower than 7.06 per cent in 2019. Some significant bond issuers included BIDV, VietinBank, HDBank, and TPBank. The rush of corporate bond issuance has sought attention from yield-hunt investors in the face of ultra-low interest rates. “Rising medium- and long-term capital demands to satisfy stricter regulations on credit safety limits and capital adequacy ratio in 2021 were putting much pressure on commercial banks to raise funds from bond issuance in late 2020,” explained Nguyen Tu Anh, director of the General Economic Department under the Central Party’s Economic Commission. “On the other hand, foreign investors have been closely engaged in the domestic debt market. In 2020, foreign investors were actively net buyers, expect only three months of slight net-selling, with a total net buying value of $179.7 million.” However, the lack of transparency and independent credit …

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