Danang calls for investment in 10 projects in next five years Tien Sa Port in Danang City. The city wants to call for investment in Lien Chieu Port and make the Tien Sa Port the cruise port Six of the projects have had their scales determined, with a combined investment capital of more than VND100 trillion, while the four remaining projects depend on proposals from investors. The project of building the city subway system will be the largest, with an amount up to VND54.5 trillion. The city wants to call for investment into this massive project under the Public - Private Partnership (PPP) mode. The system will follow two directions. One of them is on the East-West way, connecting the Nam O region in the Northwest, adjacent to Hai Van Pass, going through the downtown area to the An Hai Dong area (My Khe beach). Meanwhile, on the North-South way, the subway will start from the Son Tra Tinh Vien area (in Son Tra peninsula) to the vicinity of Danang airport. Reportedly, in the Northwest region, there are many large investment projects, including Japan’s Mikazuki hospitality complex and new residential areas named Golden Bay, Thuy Tu, Golden Hills and the cluster of the Danang High-tech Park and the Information Technology Park. In addition, Danang is also calling for investment for Lien Chieu Port in this area. This project has a total investment capital of nearly VND7,400 billion (including State and private investment), developing two initial berths, capable of receiving general ships, bulk cargo with 100,000 tons and container ships from 6,000 to 8,000 TEUs, ensuring throughput of goods from 3.5 to 5.0 million tons a year. When these projects are constructed synchronously, they will be the driving force for Danang's economic development in the Northwest region. Among the 10 projects, there are also some prominent projects such as the railway station relocation and urban development project worth VND12,636 billion and the tunnel going …
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World News in Brief: March 6
* Globally, as of 9:42am CET, 6 March 2021, there have been 115.478.709 confirmed cases of COVID-19, including 2.568.720 deaths, reported to WHO. As of 6 March 2021, a total of 249.160.837 vaccine doses have been administered. * The Chinese mainland reported no new locally transmitted COVID-19 cases on Friday, the National Health Commission said Saturday. The total number of confirmed COVID-19 cases on the mainland reached 89,962 by Friday, including 173 patients still receiving treatment, including one in severe condition. * Japan extended a state of emergency in the Tokyo area by two weeks to try to combat COVID-19, prompting a "heartfelt apology" by Prime Minister Suga Yoshihide. * Brazil on Friday registered more than 1,600 COVID-19 deaths for the fourth day in a row, reporting 1,800 new deaths and 75,495 new cases in the past 24 hours. Brazil has so far reported a total of 10,869,227 cases with 262,770 deaths, according to official data. * Russia on Saturday reported 11,022 new COVID-19 cases, including 1,820 in Moscow, taking the national case tally to 4,312,181 since the pandemic began. The government's coronavirus taskforce said that 441 people had died in the last 24 hours, bringing the Russian death toll to 88,726. * US President Joe Biden said the latest job report shows job gains are too slow and his COVID-19 relief bill is urgently needed to boost the economy. * The European Union will urge the United States to permit the export of millions of doses of AstraZeneca's COVID-19 vaccine to Europe, underlining Brussels' scramble to bridge supply shortfalls, the Financial Times reported on Saturday. * Italy said on Friday it would further tighten coronavirus restrictions in three of its 20 regions, while France reported the number of people in intensive care with the disease reached its highest level so far this year. * Switzerland unveiled a CHF1 billion (US$1.08 billion) plan on Friday to offer free coronavirus tests for its entire …
New regulation on minimum trading lot at HOSE aims to keep small investors away
Around $200 billion is now in tumult after a succession of days of network congestion and the news about the required increase in minimum trading lot from 100 to 1,000 shares on the HCM City stock market. Nguyen Giang, owner of The Way Coffee, completed the procedure to open an account at SSI Hanoi Branch after hearing that the HCM CIty Stock Exchange (HOSE) was planning to increase the required minimum trading lot from 100 shares to 1,000 shares. The reason behind the plan, as explained by Le Hai Tra, HOSE’s CEO, was to ease the overload. However, this was not good news for many investors, including Giang. Because of Covid-19, he no longer can work as an outbound tour guide, which he did for 10 years. In 2020, he opened a street coffee shop. However, the third Covid-19 outbreak once again affected his business. Giang then decided to make financial investments as he has confidence in the bright prospects of the stock market. However, the calculations of the investor may fail because of HOSE’s tentative policy. If the tentative policy takes effect, Giang will have to spend VND100 million at least for every purchase transaction of VIC (Vingroup), VJC (Vietjet), VCB (Vietcombank) and VNM (Vinamilk). If buying SAB (Sabeco), he would have to spend VND180 million at least, and ifor VCF (Vinacafe Bien Hoa), he would have to spend VND240 million. These are very large amounts of money compared with Giang’s investment plan. However, Tra said the policy, once applied, would bring benefits. It would not only help ease congestion thanks to the reduction of 40-50 percent in number of transactions, but would also better protect small investors. Nguyen Duy Hung, president of SSI, also commented that this is the best choice for now to maintain the system’s operation. However, many experts and securities companies don’t share the same view. They have warned that the policy isn't in line with stock market development and discriminates against small and …
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