HA NOI (VNS)— Domestic stock indices rose last week, buoyed by the return of foreign investors as net buyers on Friday. The market rebounded strongly on the last trading session of the week, pushing the VN-Index on the HCM City Stock Exchange up nearly 10 points to 493.99 points. The week was up 1.7 per cent on the previous Friday's close. But trading value and volume declined by 7 per cent and 11 per cent respectively, averaging VND644.4 billion (US$30.3 million) and 32 million shares per session. On the Ha Noi Stock Exchange, the HNX-Index also added 0.7 per cent to 63.12 points by the end of the week. However, the average trading value and volume fell around 16 per cent, compared to the previous week, to VND123 billion ($5.8 million) and 16.4 million shares. Foreign trading boosted shares on Friday, with the net buying value VND58 billion ($2.7 million) in HCM City - the highest in the last 30 days. Meanwhile, the figure in Ha Noi was more than VND4 billion … [Read more...] about Shares rise on foreign investor spending
Foreign investors
Foreign investors continue to eye Viet Nam market
HCM CITY (VNS)— Viet Nam remains an attractive destination for foreign investors despite challenges, according to EY, one of the world's leading accounting companies. To Singaporean investors, Viet Nam is considered the second-best destination, after Myanmar, according to EY (formerly Ernst&Young). Max Loh, the EY's regional managing partner for ASEAN, said that, with total investment capital of more than US$23 billion, Singapore was the fourth biggest investor in Viet Nam, followed by Japan, South Korea and Taiwan. New Singaporean investors continue to be interested in Viet Nam, while those who have already invested want to maintain or expand their business, according to Loh. EY, however, said Viet Nam faced several challenges, including bad debt, a lower-than-expected Gross Domestic Product (GDP) last year, and the record number of bankruptcy. Nevertheless, EY praised the Government for addressing these problems. As for regional competition, Loh said that Viet Nam … [Read more...] about Foreign investors continue to eye Viet Nam market
Bourse eyes special foreign-investor index
Following introduction of the new benchmark VN30 index, another new stock index will probably be created to serve foreign investors, according to Le Yen Quynh, a member of the committee established to oversee the VN30. "The long-awaited VN30 is meant for domestic investors and does not account for ownership limits applicable to foreign investors," Quynh told the financial information website vietstock.vn. Sound stocks such as Vinamilk (VNM) have already hit their foreign ownership ceilings, she noted. "Therefore, foreign investors are not necessarily able to invest in shares included in the new basket to calculate the VN30." The VN30 was a pilot programme with a new calcuting method, Quynh explained. "Since it is in an initial pilot phase, the index will be set up for domestic investors only." The HCMC Stock Exchange will later formulate a similar index for foreign investors, and stocks that have exhausted their room for foreign investors will be counted out of the basket, she … [Read more...] about Bourse eyes special foreign-investor index
Real estate market: foreign investors change business strategy
VietNamNet Bridge - Instead of pouring money directly into projects, foreign investors now are joining well-known Vietnamese real estate developers to develop projects.Thailand’s Hemaraj Land & Development and Vietnam’s Cienco 4 have confirmed a plan to set up a joint venture to develop a 3,200 hectare IZ in Nghe An province, capitalized at $1 billion.Japanese investors have also made huge investments in Vietnam. Nishi Nippon and Hankyu have joined with Nam Long to build Mizuki Park, a residential quarter worth $351 million covering an area of 26 hectares in Binh Chanh district. Aeon Mall, a retailer, has teamed up with BIM to develop Aeon’s second shopping mall in Hanoi capitalized at $200 million. … [Read more...] about Real estate market: foreign investors change business strategy
Foreign investors still ignore SOE equitisation
On October 30, Central Institute for Economic Management (CIEM) announced the results of the report on “Strategic shareholders in the equitisation of state-owned enterprises.” With the intent of supporting the equitisation process and state divestments of equitised enterprises, CIEM conducted an independent research on the current situation and root causes of the inefficiency in the process of calling for strategic shareholders.Supported by the American Chamber of Commerce (Amcham), the research aims to offer recommendations on current policies in order to enhance the efficiency of the equitisation and divestment of state-owned enterprises (SOEs).To date, Vietnam has been making efforts to accelerate and enhance the equitisation process at SOEs.Nguyen Dinh Cung, director of CIEM, asserted that one of the solutions to meet the target and turn the equitisation process more efficient as well as improve the management of equitised enterprises is to appeal to strategic … [Read more...] about Foreign investors still ignore SOE equitisation