Second quarter 2018 stock market review

“After seeing generally mixed performances by a trio of newly public companies this month, VNG was advised to hold off until market demand improves,” an inside source disclosed to Bloomberg . While VNG remained reticent on the matter, the strategic pause mirrors a broader caution in the tech IPO space. Notably, both Arm Holdings Plc, the SoftBank Corporation affiliate, and delivery service Instacart experienced their stocks trading beneath their IPO valuations. VNG, which debuted as Vinagame in 2004, has transitioned from its initial gaming focus to become a diversified digital powerhouse in Vietnam, offering an array of services from video streaming and news portals to mobile payments. The company has contemplated a US listing since 2017. Before this revision in plans, the gaming and communications conglomerate had intimated an intention to offload approximately 22 million shares in its proposed IPO, though pricing details remained under wraps. In 2021, VNG was contemplating … [Read more...] about VNG delays US IPO amid subdued market appetite

Print has been the mainstay, but times change and so must the press. Photo: Le Toan Since taking a role as an economic counsellor at the Indonesian Embassy to Vietnam a few years ago, Ance Maylany Napitupulu has considered the local media a reliable source of information for her work. “I’m quite impressed by what Vietnam Investment Review has been doing in conveying information via in-depth stories on both online and print newspapers, and especially in organising events,” Napitupulu said. Napitupulu attended VIR ’s conference themed “Stronger Investment Partnerships for a Thriving Vietnam” in May, where she had an opportunity to establish relations with experts. This was the second time that Napitupulu had participated in such large-scale events led by VIR , which she said is becoming a professional event organiser besides its well-established expertise in the Vietnamese press. “I hope to have another opportunity to attend VIR events as they will provide me with new … [Read more...] about Evolving demands and trends dictate VIR‘s future

SKC Co. Ltd. (SKC), a subsidiary of the SK Group , has received an investment certificate to develop a high-tech biodegradable materials factory in the northern port city of Hai Phong. With the total investment capital of $500 million, the factory specialises in producing biodegradable materials such as polybutylene adipate terephthalate and polybutylene succinate. The project spreads across an area of 32,089 square metres in the Haiphong I DEEP C Industrial Zone in the Dinh Vu-Cat Hai Economic Zone. In the first phase, the project will start construction in mid-December 2023, slated to be completed within nine months. The project is expected to reach an output of 35,000 tonnes by year-end. In the second phase, the company will increase the total output to 70,000 tonnes per year. Woncheo Park, CEO of SKC under SK Group said, "SK Group has invested about $3 billion in Vietnam over the past five years. Currently, Hai Phong is one of the countries with the most modern … [Read more...] about South Korea’s SK Group continues to deepen investment in Vietnam

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

Vong Village's green rice flakes or egg coffee are among snacks that make autumn in Hanoi even more unforgettable for its dwellers. Hanoi in Autumn is known for its poetic beauty and unique culinary specialties, such as ripe dragon plums or dried beef salad. Here are some typical dishes to help readers explore the capital's most enchanting season. Vong Village’s Com The best green sticky rice in Vietnam is said to come from Vong Village in Hanoi. Photo: Com Vong Ha Noi Autumn in Hanoi is associated with com , or green rice flakes, which seems to have become a hallmark of Hanoi cuisine. Com is made from young glutinous rice grains that are carefully selected, roasted, and winnowed to remove all the husks. Vong Village in Dich Vong Hau Ward , Cau Giay District, is the cradle of Hanoi Com . Over time, Hanoi dwellers have come up with tasty variations on the rustic original: Com sweet dessert soup, fried com , roasted com , sticky … [Read more...] about Typical Hanoian autumn snacks

At the meeting. — Photo courtesy of Petrovietnam Vietnam National Oil and Gas Group (Petrovietnam) is actively pursuing strategies to ensure the continuity of oil and gas production in 2023 in the face of various challenges in its production and business operations. This becomes especially crucial as many of Việt Nam's key oil fields are experiencing natural declines, and several member units lack the capacity for substantial investments in new mining ventures. According to Petrovietnam, the current market supply and demand conditions have exhibited several shortcomings since the beginning of the year. These include a low capacity to mobilise electricity, resulting in significantly lower gas production than planned and in comparison to previous periods. Consequently, there is an excess of gas production, which has repercussions on the targets for crude oil production. Additionally, it hampers the achievement of long-term reserve increases and planned production expansions for … [Read more...] about Petrovietnam pushes initiatives to sustain oil and gas production

Keijo Norvanto, Ambassador of Finland to Vietnam On behalf of the Embassy of Finland to Vietnam and the Finnish business communities in Vietnam, I would like to congratulate Vietnam Investment Review on its 32 nd anniversary. I would like to express our appreciation to the VIR editors and its dedicated and talented reporters for their continuous work, introducing the Vietnam business environment and opportunities to Finnish businesses. Moreover, VIR ’s continuous cooperation with us provides the audience with Finnish experiences and know-how in education, circular economy, and other advanced technologies. The Vietnamese government committed to net-zero by 2050 and recently joined the Just Energy Transition Partnership declaration that aims to contribute to Vietnam’s sustainable development. In that, Finland possesses globally competitive technology and expertise in many areas, which will help Vietnam achieve the country-set targets. Additionally, our proven … [Read more...] about Defining the role of the press in business

The life expectancy of men and women in Vietnam ranks fifth and second, respectively, in Southeast Asia but Vietnamese people have to live with diseases for a longer time than those in other regional countries, for 10 years on average, according to the World Health Organization and the Vietnamese Ministry of Health. The World Health Organization reported that Vietnamese people’s average life expectancy increased to 73.7 years before inching down to 73.6 in 2021 due to the COVID-19 pandemic. The extended time they spend suffering from diseases significantly affects their quality of life. There are three key reasons for the prolonged illnesses of the Vietnamese people, namely nutrition, lifestyle, and environmental factors, according to experts. As for nutrition, some 59 percent of the population do not eat enough vegetables and fruits. Up to 78 percent of the Vietnamese always or usually add salt or salty spices to their dishes. An average Vietnamese adult consumes 8.1 … [Read more...] about Vietnamese people enjoy long lifespan, suffer diseases longer than other SE Asians

According to the latest report of UOB, after starting off the year at a sluggish pace, with real GDP growth in Q1 decelerating to 3.28 per cent on-year, from 5.92 per cent in the previous quarter, growth momentum in Vietnam remained lethargic, largely due to weak external demand coupled with an underperforming manufacturing sector. As a result, economic growth in Q2 expanded just 4.14 per cent on-year, for a cumulative growth rate of 3.72 per cent on-year in H1, well below the official growth target of 6.5 per cent. In terms of sectoral performance, manufacturing (including construction), which accounts for about 34 per cent share of the economy, managed to gain about 1.1 per cent on-year in Q2 with a positive contribution in H1. Meanwhile, the services sector (43 per cent share) managed to cushion some of the weaknesses from the external sector, rising 6.1 per cent on-year in Q2 following the 6.6 per cent on-year run in Q1. The services sector contributed 2.7 percentage points, … [Read more...] about Soft momentum likely for Q3: UOB

Prime Minister Pham Minh Chinh delivers a policy speech at the Brazilian Ministry of Foreign Affairs on September 25. (Photo: VNA) Brasilia (VNA) – Prime Minister Pham Minh Chinh attended a forum and delivered a policy speech at the Brazilian Ministry of Foreign Affairs on September 25 as part of his official visit to the Southern American country. Spotlighting the similarities that Vietnam and Brazil share, which include the struggle for national independence, development model and people’s values, PM Chinh said that since the diplomatic relations were set up nearly 35 years ago, both nations have enjoyed robust ties, which have been intensified and developed into a deep, stable, effective and sustainable fashion. He went on to lay stress on the five orientations to boost bilateral collaboration as well as elevate the bilateral ties into a new high in the time ahead. Firstly, both sides should enhance relations between leaders through high-level visits and meetings … [Read more...] about PM highlights five measures to elevate Vietnam – Brazil ties