Securities companies

An overview of the Aqua City project developed by Novaland in the southern province of Dong Nai. Novaland is among companies w hose capitalisation is valued at billions of dollars on the market (Photo: novaland.com.vn) Hanoi (VNS/VNA) – Vietnam’s stock market reached approximately 87.68 percent of the country’s Gross Domestic Product (GDP) as of the end of 2020, the highest rate reported so far. The other two high rates recorded were in August 2018 at 84.57 percent and March 2018 at 83.08 percent. Including the government bond market and corporate bond market , the value of Vietnam’s entire stock market by the end of 2020 exceeded 110.64 percent of GDP, this is also the highest rate ever recorded. New cash flow continuously pouring into the market since the second half of 2020 has boosted liquidity. December 2020 and January 2021 were two months witnessing record matching value, of more than 250 trillion VND (10.8 billion USD) and more than 300 trillion VND on the Ho Chi Minh City Stock Exchange (HoSE), respectively. However, skyrocketing liquidity has far exceeded market forecasts, leading to frequent congestion in many sessions, causing a lot of trouble for investors and affecting the quality of the market. The sudden increase in liquidity is unpredictable, causing undesired interruptions in trading, according to HoSE. To tackle this issue, the State Securities Commission said it was speeding up the implementation of a new information technology system for the entire stock market, known as KRX. The Vietnamese stock market has experienced a year of spectacular recovery from the bottom caused by the COVID-19 crisis, a trend that is in parallel with most of the major stock markets in the world. Since the bottom at the end of March 2020, the VN-Index has increased by nearly 50 percent. So far, the Vietnamese stock market recorded 38 companies whose value reaches billions of dollars. Vingroup is valued at 15.95 billion USD in market …

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The Ministry of Finance has warned about illegal trading of cryptocurrencies via platforms downloaded from App Store and CH Play. — File photo HÀ NỘI — The Ministry of Finance will keep a close watch on the trading of cryptocurrency and provide warnings about the risks and consequences of illegal trading and investing. High-tech crimes related to cryptocurrency were taking place complicatedly in sophisticated forms, the ministry said. Recently, police in the central city of Đà Nẵng warned about a new scam via investment platforms downloaded from the App Store and CH Play which were issued by securities companies. The ministry said that the trading of cryptocurrency was becoming more common in many localities nationwide. The State Securities Commission works regularly with the police to tackle illegal trading of cryptocurrency and securities via platforms like Rforex at the address www.rforex.com and Emrfx www.emrfx.com . The State Securities Commission said these platforms generally called for investment from individuals and organisations in securities, cryptocurrency and binary options which were not legal in Việt Nam. The finance ministry said currently, only the HCM City Stock Exchange and Hà Nội Stock Exchange were allowed to organise the trading of securities in Việt Nam. Under the established laws, cryptocurrency is not a type of stock and there are no regulations about the issuance and trading of cryptocurrency and virtual assets. The State Securities Commission warned investors to be cautious when investing in cryptocurrency and virtual assets and asked public companies, securities companies, fund management companies and investment funds not to provide trading and intermediary services for cryptocurrencies. In May 2020, the Ministry of Finance set up a group in charge of studying and proposing policies to manage virtual assets and cryptocurrency. A recent survey by a global provider of market and consumer data …

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In June last year, Ngo Dinh Vuong halted the operation of his garment factory in Quang Minh Industrial Park in Hanoi’s Dong Anh District due to the health crisis. The factory was opened in late 2018 and is the third to have been opened by Vuong in the northern region of the country since 2016. Then in July, the second factory, based in Hung Yen Province, faced the same plight, leaving the first factory operating moderately also in Hung Yen. The three factories are managed by Hoang Yen Garment and Trading JSC, established in 2016, where Vuong is the director. However, in early January, the two factories with halted operations began resuming operations as some big contracts have been landed with local and foreign experts. This would allow 800 workers to have incomes. “We are happy that all of our three factories are in full operations now,” Vuong told Nhan dan Online. Hoang Yen Company’s case is among more than 11,000 enterprises resuming operation in the first two months of this year nationwide. According to the General Statistics Office (GSO), also in the first two months of 2021, the economy saw 18,100 newly-established enterprises with total registered capital of VND334.8 trillion (US$14.55 billion), employing 172,800 new labourers – up 4% in the number of enterprises, 52.2% in capital, and 9.7% in the number of labourers as compared to those in the same period of last year. In particular, the average registered capital of each newly-established business in the two months of the year is VND18.5 billion (US$804,347), up 46.4% year-on-year. If an additional VND385.6 trillion (US$16.76 billion) registered by 6,500 operational enterprises is included, the total registered capital inserted into the economy in the first two months is VND720.4 trillion ($31.32 billion). In February, despite the Lunar New Year, the number of newly-established firms hit more than 8,000 registered at VND179.7 trillion (US$7.81 billion), down 20.3% in the number of enterprises …

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