Low market confidence

Foreign capital is expected to continue to flow into the stock market as foreign investors' confidence remains strongly.(Photo: VNA) Hanoi (VNS/VNA) - From being net sellers in the first nine months of 2022, foreign investors have become the driving force supporting the Vietnamese stock market in the last few months, and the inflows are expected to continue this year. In 2022, this group net disbursed more than 29.2 trillion VND (1.2 billion USD) to the market, while it has net sold nearly 18.8 trillion VND and set a record net selling value of over 62.2 trillion VND in 2021. In November alone, more than 16 trillion VND in net disbursed cash flow from foreign investors was significantly supported by exchange-traded fund (ETF) capital inflows into the market, primarily from the Fubon ETF and the VNDiamond Index-based ETF. A study by BIDV Securities Company (BSC) analysing over 50 billion USD owned by foreign investors on the Vietnamese stock market showed that more … [Read more...] about Foreign investors remain optimistic about Vietnamese stock market

Phan Cong Chanh, CEO of developer Phu Vinh Group, said the real estate market will pose more risks than opportunities for investors in 2023, adding that would-be investors should save their money instead of spending it. According to Chanh, in the long term the market will benefit from rosy economic growth prospects, better legal frameworks and improved stock markets, especially the corporate bond market, But he said this would be gradual recovery that wouldn’t flourish to its full potential until 2-4 years from now. The Central Institute for Economic Management put forth two economic growth scenarios for this year. Accordingly, GDP growth will either stand at 6.47%, inflation at 4.08%, export growth at 7.21% and trade balance at $5.64 billion, or at 6.83%, 3.69%, 8.43% and $8.15 billion, respectively. With the draft amendments to the Land Law submitted to the National Assembly for potential approval in October, and amendments to other related laws such as the Law on Real Estate … [Read more...] about Should you invest in property or save your money this year?

Illustrative photo (Source: VNA) Hanoi (VNA) – The number of newly-established enterprises and businesses resuming operations in the real estate market saw a remarkable rise last year, said the Ministry of Construction . As per statistics from the Ministry of Planning and Investment’s Business Registration Management Agency, there were 8,593 new enterprises and 2,081 businesses resuming operations in 2022, up 13.7% and 56.7% year-on-year. Meanwhile, the number of firms declaring bankruptcy or dissolution also grew by 38.7% against 2021. The Ministry of Construction said 2022 still saw many challenges facing realty firms and forcing them to change their business and management plans. The changes included debt restructuring, scaling down production and investment, streamlining apparatus, and suspending new projects, among others. In the face of complicated economic developments, from the middle of the third quarter to the end of last year, the operations of real … [Read more...] about More realty businesses established, resume operations in 2022

An SSI branch in HCM City. The company achieved profits of VND2.1 trillion ($89.3 million) in 2022. — Photo courtesy of SSI SSI Securities Corporation’s revenues and profits reached VND1.47 trillion (US$62.2 million) and VND289 billion ($12.29 million), respectively, in the fourth quarter of last year. Full-year revenues and profits were VND6.5 trillion ($276.73 million) and VND 2.1 trillion ($89.3 million), respectively. Brokerage fetched VND679 billion in Q4 and VND3.56 trillion for the year, revenues from investment were worth VND563 billion in Q4 and VND2.06 trillion by year-end. Revenues from principal investment and treasury were worth VND169 billion and VND635 billion. Fund management fetched revenues of VND165 billion for the year. As of December 31, 2022, SSI has total assets of VND52.23 trillion ($2.22 billion). The company deployed a series of advisory programmes for customers last year. — VNS … [Read more...] about SSI profit reaches $89.3 million in 2022

The article cited the speech by Vietnamese Minister of Plan and Investment Nguyen Chi Dung at a start-up investment forum in December 2022 as saying that in recent years, more and more FDI flows have come to Vietnam’s start-ups. In the first nine months of 2022, Vietnam's innovative start-ups attracted about 500 million USD. Over the past two years, startups have attracted nearly 2 billion USD in foreign investment, which proved that “Vietnamese start-ups are increasingly attractive to international and regional investors.” In 2021, Vietnamese start-ups raised 1.4 billion USD in investment capital, 56% higher than the level of 894 million USD in 2019. The Vietnam National Innovation Center estimates that the capital attraction capacity of Vietnamese start-ups will maintain an upward trend in 2023. Thirty-nine investment funds have committed an investment of 1.5 billion USD to Vietnam in the period 2023-2025, bringing the total investment for Vietnamese start-ups to 5 billion … [Read more...] about Vietnam joins “golden triangle of start-ups” in Southeast Asia: Hong Kong newspaper

Deputy Director of the FIA Do Van Su said disbursement of foreign investment this year is expected to hit USD 22-23 billion. Su acknowledged that the opening of China’s economy might affect Vietnam's foreign investment attraction, adding that China remained the leading investment destination in the region, so when they opened up, capital will flow into this market while that to Vietnam and other economies in the region will be limited. On the contrary, the investment capital movement of the Republic of Korea (RoK), Japan, and Taiwan (China) will be accelerated. This shift will be accelerated until 2025, and Vietnam will be a preferred investment destination for investors, he added. Currently, the RoK, Japan and Taiwan (China) are Vietnam’s major sources of foreign investment and they have constantly increased their investments in Southeast Asian countries. According to FIA, essential factors for FDI to continue to prosper in 2023 include economic growth results in 2022 and … [Read more...] about Vietnam’s FDI projected to reap up to USD 38 bln in 2023

Diesel prices increased by VND890 to VND22,520 per liter and mazut oil prices surged by VND570 to VND13,930 per kilogram. Oil prices rose about 2% last Thursday on expectations that global demand will strengthen as top oil importer China reopens its economy and on positive U.S. economic data, according to CNBC . Brent futures rose $1.35, or 1.6%, to settle at $87.47 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 86 cents, or 1.1%, to settle at $81.01. Some gasoline stations in Hanoi and Hai Phong City ran out of stocks last week, causing inconvenience to people, who have to drive around and fill elsewhere. During the seven-day Tet holidays which began January 20, several stations in Ho Chi Minh City and An Giang Province also shut down. According to market management statistics, about a dozen gas stations in Ho Chi Minh City closed during Tet. But the HCMC Directorate of Market Surveillance claimed that only a few out of the over 550 stations in … [Read more...] about Gasoline prices surge amid higher global rates

The ongoing strong cold spell is sweeping across northern Vietnam and is expected to last for a couple of days before drizzling rain hits the region, according to national weather forecasters. Illustrative photo Northerners still feel the chill before drizzling rain hits, starting on February 1. The northern region has endured a number of subsequent cold air waves for the past few days, causing temperatures to drop sharply. The latest strong spell hit northern localities on January 27, plunging the temperature to a low of 7 degrees Celsius in the highlands and 10 in the lowlands. Despite the sunrise, northerners still feel the chill, even in Hanoi where the temperature falls to as low as 10 degrees Celsius in the morning. The cold, dry weather is forecast to last till the end of January before daytime temperatures will rise sharply accompanied by drizzling rain and high humidity. Elsewhere the ongoing cold spell has also impacted the Central … [Read more...] about Cold wave grips northern Vietnam before drizzling rain falls

The ministries of Industry and Trade, and Finance have sharply raised retail petrol prices from Monday afternoon. Illustrative photo Following the latest adjustment, the price of E5RON92 biofuel increased by VND970 to VND 22,320 per litre and RON95 by VND990 to VND 23,140 per litre. Diesel prices have also been raised by about VND890 to VND22,520 per litre. The price hike is said to have resulted from the rising prices of petrol and oil in the global market over the past 20 days. Nearly 100 petrol stations nationwide were closed during the Tet Lunar New Year holiday, claiming they had run out of stock and lacked employees. A representative of a station in Hanoi said that they could not buy enough stock and therefore had to limit sales. According to some petrol retailers, since authorities did not fix new retail prices on January 21 as scheduled and instead moved the announcement to February 1, they were selling at lower commissions … [Read more...] about Petrol prices sharply increase in latest adjustment after Tet holiday

Many Vietnamese enterprises achieved success in 2022 after shifting to exports through e-commerce platforms, especially Amazon. The trend is expected to continue this year. Vietnam was among the top five countries with the highest e-commerce retail sale growth rates in 2022, according to a report by the U.S.’s market research company eMarketer. Impressive growth A year after beginning to sell goods on Amazon to European and American markets, ChicnChill, a Vietnamese handicraft brand, reported a growth rate of up to 700 percent. Tran Tuan Dung, CEO of ChicnChill, said he saw the start-up thrive when a majority of Vietnamese enterprises have scaled down their operations due to the impact of the COVID-19 pandemic. He and his team spent months studying the lifestyle in European and American markets and home decoration trends there, thereby determining the company’s key products and penetrating into these markets. After a year, ChicnChill’s home decoration products are … [Read more...] about Vietnamese firms earn big from Amazon