Financial market

Vietnam wants to learn from the experience of developed countries, including the U.K., in developing a financial center, National Assembly Chairman Vuong Dinh Hue told the Acting Mayor of the City of London Peter Estlin. He noted that the city of London was one of the biggest financial centers in the world. Hue met Estlin during his June 28-30 official visit to the U.K. Estlin said the U.K. was willing to partner with Vietnam at different levels, including developing a financial market and improving its business credit rating to grow the bond market. He also expressed support for a partnership between U.K. banks and Vietnamese counterparts to help Ho Chi Minh City become a financial center. In a draft plan published last February, HCMC seeks to establish an international financial center by 2030 with three main components: a monetary and banking market; a capital market; and a derivatives market. … [Read more...] about Vietnam seeks UK assistance for HCMC financial center

It was led by angel investor Clement Benoit and U.S.-based startup accelerator Y Combinator. The money will be used to improve its app by building a social network in it so users can share their investment knowledge. Anfin was launched in October last year and has raised around $7 million to date. Its app allows users to invest as little as VND10,000. Its CEO, Phuoc Tran, said the app has over 100,000 active accounts with a total transaction value of $10 million. Benoit said creating a product that serves many groups of people in society is the right move in a big market such as Asia. He hoped the company would branch out to other countries and succeed in its social investing business model. Interest in stocks remains sky-high in Vietnam, with 476,300 new accounts opened in May, a new record. Phuoc said despite the volatility in the market, stocks remain an asset class with great prospects. Data from investment fund Dragon Capital Vietnam shows that in the last five … [Read more...] about Financial startup Anfin raises $4.8 mln

Dr. Ho Thanh Tung, representative of the Organising Committee, delivered a speech to welcome the conference According to Le Long Giang, director of the Vietnam Financial Advisers Association (VFCA), the second most important technology in the world at the moment is blockchain. A powerful new extraction method is that has the potential to disrupt economic patterns and alter future markets. “In developing economies, blockchain has the ability to propel them to new heights. Educators, researchers, technology transfer agents, and entrepreneurs all play key roles in this process. A fifth goal, which has just been launched, is that of universities as co-creators of sustainable development. University participation in such a process should be encouraged,” he emphasised. Digital and blockchain technology, financial laws and norms, big data, financial markets and institutions in the age of technology, and fintech behaviour and performance were all on the agenda for the conference. … [Read more...] about Ton Duc Thang University hosts conference on financial blockchain applications

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

Implementing the Decision No. 08/2022/QD-TTG dated March 28, 2022 of the Prime Minister on the implementation of housing rental assistance policy for employees, over the passing time, the Vietnam Social Security Agency has been directed to concentrate on human resources, reforming administrative procedures, applying information technology to confirm soon cases being eligible to receive financial support for a rental house in the spirit of ensuring publicity, transparency and eligible beneficiaries. As for employees who are working in enterprises, each eligible person will be received financial support of VND500,000 (US$21.5) a month with a maximum support period of three months. In 50 provinces and cities nationwide, the Vietnam Social Security Agency has confirmed 9,657 units with 397,588 workers, including 393,759 contracted workers being subject to mandatory social insurance to be received the financial support. Regarding people having just returned to the labor market who … [Read more...] about Over 400,000 employees confirm to receive rental house financial support

Approximately 100 tonnes of Vietnam’s ST25 rice has hit the shelves of Japanese supermarket chain in order to serve both Japanese consumers and Vietnamese nationals residing and studying in the Far East country. Vietnamese Ambassador to Japan Vu Hong Nam (left) and President of Tokyo Financial Group at the event to promote Vietnam's ST25 rice The presence of ST25 rice in the Japanese market is part of trade promotion activities aimed at boosting the export of high-quality Vietnamese rice to demanding markets throughout the world. Vietnamese Ambassador to Japan Vu Hong Nam pointed out that, despite the nation being the world’s largest rice producer, Vietnamese rice exporters are required to meet the 600 stringent technical standards to penetrate the Japanese market. The Vietnamese diplomat assessed that the introduction of Vietnamese rice in the fasdious market has been a great success for both local manufacturers and businesses. Watanabe Hisanobu, … [Read more...] about High-quality Vietnamese rice ST25 goes on sale in Japanese market

Land split into lots for sale. The real estate market was slowing down on the tightening of credit flow into certain segments. — VNA/VNS Photo As moves are taken to control the credit flow into certain segments, while localities seek to tighten the land lot split, the real estate market could slow down, but experts remain divided on the risk of the bubble bursting. In recent years, land prices increased rapidly despite the impact of the COVID-19 pandemic. According to a report by the Department of Housing and Real Estate Market Management under the Ministry of Construction, land prices, especially in localities planning or developing infrastructure saw whopping increases. The moves to control credit flow into the real estate sector and land lot split were cooling the market, with falling liquidity but prices staying at high levels. A report by real estate portal batdongsan.com.vn showed that searches for property on sale via the portal in the first five months of this year … [Read more...] about Real estate market slowing down, experts divided on bubble risk

A chart showing the number of listed companies meeting stock market information disclosure requirements in 2011-22. — VNS Photo Some 385 listed companies on the Ha Noi and Ho Chi Minh stock exchanges, or 52 per cent, have met all information disclosure requirements, according to a survey conducted by the 2022 IR Awards programme. The survey, done between May last year and April this year by Vietstock, the Viet Nam Association of Financial Executives and FILI magazine, was based on criteria for disclosure of information set by the Ministry of Finance and other agencies. According to the organisers, the percentage of listed companies meeting information disclosure standards has risen since 2011 from only 3 per cent to 52 per cent. In 2021 and 2022 the number exceeded 50 per cent, showing that businesses are increasingly paying more attention to compliance, they said. Of the 385 listed companies that complied with information disclosure obligations, the banking industry led … [Read more...] about Only half of listed companies comply with information disclosure norms

A worker operating a production line inside a Duc Giang Chemical plant in Hung Yen Province. In 2022, Duc Giang Chemical Group Joint Stock Company (DGC) sets a target of VND12.1 trillion in revenue and VND3.5 trillion in profit after tax. — Photo ducgiangchem.vn Thanks to their good growth potential and attractive valuation, chemical stocks are being included in the portfolios of investors. The stock market last week recorded four out of five declining sessions, of which the first session of the week recorded the strongest decline with the VN-Index losing more than 57 points. Some investors see this as an opportunity to hunt for cheap stocks. Pham Dinh Cong from Ha Noi told tinnhanhchungkhoan.vn that he had taken the opportunity to buy some stocks in the past week, prioritising the enterprises with good financial status and growth potential, such as the chemical group. According to ACB Securities Company (ACBS), in May 2022, the industrial production index of the chemical … [Read more...] about Chemical firms see growth potential thanks to rising selling prices

Jesse Choi, CEO of Sunwah Innovations and director of Sunwah Vietnam talked about Vietnam's market entry opportunities and strategy The webinar received around 100 participants including experts and representatives of corporates, startups, universities, incubators and accelerators, venture capital firms, and business associations from Vietnam and neighbouring countries and territories including Cambodia, Singapore, Japan, South Korea, China, and Hong Kong. Vietnam has seen significant improvements in developing a dynamic and open business environment. In the post-pandemic period, the country stands firm as one of the most attractive destinations in the Southeast Asian region for foreign investors and businesses including venture capital firms and startups. Realising an increasing need from overseas startups and supporting organisations to explore and gain footholds in the market, Sunwah Innovations organised the Vietnam Market Entry Opportunities and Strategy webinar. It was … [Read more...] about International webinar on Vietnam’s Market Entry Opportunities and Strategy