Liquidity management framework

Vietnam Prosperity Bank's staff offer clients consultation. — Photo vietnamplus.vn Over the past decade, Việt Nam has seen a remarkable surge in personal financial assets (PFA) that outpaces many other Asian countries. This robust economic environment has created a significant demand for specialised wealth management services, tailored to the diverse financial aspirations of retail customers. A recent projection by McKinsey & Company has indicated that by 2027, Việt Nam's PFA market will reach approximately US$600 billion, growing annually at a rate of 11 per cent from its 2022 baseline of around $360 billion. This growth encompasses a significant increase in managed wealth assets within the industry, presenting an estimated additional $65 billion to $75 billion in opportunities for institutions. These opportunities are poised for equal distribution across both affluent and high-net-worth individual (HNWI) segments, making it a tantalising prospect for wealth management … [Read more...] about Unleashing the potential of Việt Nam’s wealth management market

The Vietnam Prosperity Bank's staff offer clients consultation. (Photo: VNA) Hanoi (VNS/VNA) - Over the past decade, Vietnam has seen a remarkable surge in personal financial assets (PFA) that outpaces many other Asian countries. This robust economic environment has created a significant demand for specialised wealth management service s, tailored to the diverse financial aspirations of retail customers. A recent projection by McKinsey & Company has indicated that by 2027, Vietnam's PFA market will reach approximately 600 billion USD, growing annually at a rate of 11% from its 2022 baseline of around 360 billion USD. This growth encompasses a significant increase in managed wealth assets within the industry, presenting an estimated additional 65 billion USD to 75 billion USD in opportunities for institutions. These opportunities are poised for equal distribution across both affluent and high-net-worth individual (HNWI) segments, making it a tantalising … [Read more...] about Unleashing potential of Vietnam’s wealth management market

Photo Le Toan Just a week after Vietnam and the US elevated their bilateral relations to a comprehensive strategic partnership, Prime Minister Pham Minh Chinh paid a working trip to the US to attend the 78th session of the UN General Assembly where he underlined Vietnam’s contributions and commitments to the UN’s activities, and met with UN Secretary-General António Guterres. In the US, he also met with US Vice President Kamala Harris, leaders of the US Congress, the national security advisor, and several members of the US cabinet. He also visited the New York Stock Exchange where he knocked the gavel to open a trading session. He underlined the need for both nations to focus on materialising the new cooperation framework into specific strategies, projects, and business cooperation. Noting priorities to be implemented, the PM said both nations must continue to prioritise resources for realising commitments in the joint leaders’ statement on elevating US-Vietnam relations. … [Read more...] about More consideration lent to US investment

Kuala Lumpur (VNA) – Malaysia’s Investment, Trade and Industry Minister Tengku Zafrul Aziz has stressed that supporting Malaysian small and medium-sized enterprises (SMEs) is vital as the global supply chains are shifting to the Association of Southeast Asian Nations (ASEAN). The minister said ASEAN is set to become not just the world's factory but also a significant consumer base. The 10 ASEAN nations are already home to more than 678 million people, with a combined Gross Domestic Product ( GDP ) of about 3.7 trillion USD last year, he said, adding that as a bloc, ASEAN is the fifth-largest economy in the world, with a middle class of roughly 350 million, representing 300 billion USD of disposable income. Last year, Tengku Zafrul said that when the global Foreign Direct Investment (FDI) fell by 12%, FDI into ASEAN went up by 5%, and its share of global FDI rose to an all-time high of 17%. According to the official, SMEs' survival in local supply chains could help them … [Read more...] about Malaysia support SMEs to tap supply chains shifting to ASEAN

Phan Van Son, director of General Department under the Commission for Management of State Capital at Enterprises In Vietnam’s quest for economic prosperity, the Commission for Management of State Capital at Enterprises (CMSC) stands out as a sentinel overseeing the ownership in 19 pivotal state-owned enterprises (SOEs), each playing diverse roles across 16 varied sectors. According to Phan Van Son, director of General Department at the CMSC, the journey, while dotted with accomplishments, has many challenges. “The commission acts as a dedicated agency, symbolising state ownership in enterprises, rendering them guardians of state assets,” said Son. According to Son’s presentation at VIR ’s seminar titled 'Looking Back and Moving Forward' on September 26, by 2022, these 19 SOEs have witnessed a surge in their consolidated total capital and assets, touching $48.7 billion and $105.2 billion respectively, reflecting a substantial 63 per cent of total state ownership capital and … [Read more...] about CMSC navigates reforms and challenges at SOEs

Amid the current financial landscape, how do you see the investment appetites of global investors evolving? From the escalating interest rates that echo the world’s financial concerns to brewing geopolitical tensions, uncertainty seems to be the new norm. Louis Nguyen, chairman and CEO of Saigon Asset Management This environment has led many investors to tread with caution. A conservative streak is becoming more apparent, with a pronounced shift towards liquidity. Increasingly, investors, whether individual or institutional, are preferring the relative safety of cash holdings over more volatile investments. Vietnam, too, reflects this broader sentiment of caution. But for this Southeast Asian nation, the complexities run deeper. Beyond the external geopolitical and economic factors that influence global investment behaviours, Vietnam grapples with its own unique set of challenges. Recent internal events and policy indecisions have contributed to an atmosphere … [Read more...] about Compelling business model essential for success

Vinacomin cleared its short-term loan balances by the end of last year For the first half of this year, the group (Vinacomin) reportedly produced 20 million tonnes of raw coal, 25 million tonnes of commercial clean coal, and unloaded 64 million cubic metres of rock and soil, consuming 25.3 million tonnes of coal. In the same period, the group provided more than 21 million tonnes of coal for electricity production, reaching 55 per cent of the plan; increased by 16 per cent, equivalent to an increase of 3 million tonnes compared to the same period in 2022. The first 6-month revenue of the group is estimated to have reached nearly $3.7 billion. With contracts signed for the rest of the year, the amount of coal supplied is about 18.75 million tonnes and the whole year is expected to reach 39.7 million tonnes, an increase of about 1.2 million tonnes compared to the previous year. This is mainly due to the increase in volume of build-operate-transfer thermal power plants and … [Read more...] about Vinacomin navigating to ensure efficiency

The signing of the agreement conveyed the message that Vietnam is a positive and responsible member of the international community as well as the country’s efforts to join hands with countries to deal with global issues, contributing to peace, prosperity and sustainable development. More than 60 countries are scheduled to sign the agreement during the underway high-level week of the 78th U.N. General Assembly. The ratification and signing of the deal is a historical milestone in the international community’s efforts in environmental protection during the implementation of the 2030 Agenda, especially the goal No.14 on preservation and sustainable use of oceans and maritime resources. This is the third agreement negotiated and signed within the framework of the UNCLOS 1982, reaffirming the role and importance of the convention as a legal framework for all activities at sea and in oceans. The High Sea Treaty regulates the exploitation, sharing of benefits and conservation of … [Read more...] about Vietnam becomes one of first nations to sign High Sea Treaty

At the working session (Photo: VNA) Hanoi (VNA) – Minister of Industry and Trade Nguyen Hong Dien held a working session with US Secretary of Commerce Gina Raimondo in New York recently, on the occasion of a working trip to attend the 78th session of the United Nations General Assembly and bilateral activities. Both sides underscored the need for broader and deeper cooperation between the management agencies of both countries, and between the Vietnamese Ministry of Industry and Trade (MoIT) and the US Department of Commerce (DOC) in particular, in order to actualise the vision of the two countries' leaders and to set development goals that match the bilateral comprehensive strategic partnership. Reiterating the importance of the recognition of Vietnam's market economy status, Dien suggested the DOC make drastic directions to expedite and complete the Changed Circumstances Review (CCR) process this year, in line with the spirit of the Joint Statement on September 11 and … [Read more...] about Industry-trade minister holds working session with US Secretary of Commerce

Both sides underscored the need for broader and deeper cooperation between the management agencies of both countries, and between the Vietnamese Ministry of Industry and Trade (MoIT) and the U.S. Department of Commerce (DOC) in particular, in order to actualize the vision of the two countries' leaders and to set development goals that match the bilateral comprehensive strategic partnership. Reiterating the importance of the recognition of Vietnam's market economy status, Dien suggested the DOC make drastic directions to expedite and complete the Changed Circumstances Review (CCR) process this year, in line with the spirit of the Joint Statement on September 11 and the Action Plan agreed by the two countries’ leaders. The MoIT, in its role as the Chair of the Vietnam Sub-Committee on Trade and Investment of the Vietnam - U.S. Trade and Investment Framework Agreement (TIFA) Council, pledges to continue actively working with relevant U.S. regulatory agencies to fully address the … [Read more...] about Industry-trade minister holds working session with U.S. Secretary of Commerce