Share issuance scheme

The national flag carrier remains optimistic about the recovery of the market from late 2022 and in 2023. Vietnam Airlines is taking steps to issue shares, scheduled for 2023-2024, in a bid to raise funds and improve the carrier's financial situation. The airline is still struggling with Covid-19 impacts. File photo As a State-owned entity, the airline would need approval from the Government for the issuance plan. The move was revealed in the national flag carrier’s document submitted to the Ho Chi Minh Stock Exchange on measures to halt its continual losses after its stock (HVN) was placed under supervision. In 2021, Vietnam Airlines issued shares worth VND7.9 trillion (US$337.6 million) to existing shareholders and raised its registered capital to over VND22.1 trillion ($945 million). Another plan is to issue shares to the public, and therefore the Government’s stake-holding in the airline. Amid severe impacts from the Covid-19 pandemic, Vietnam … [Read more...] about Vietnam Airlines plans share issuance to raise funds

Investors watch stock movements in front of a big screen. (Photo cafef.vn) Hanoi (VNS/VNA) - Minister of Finance Ho Duc Phoc has responded in writing to a NA delegate of Lam Dong province on issues related to the management of capital, stock and bond market s. Minister Phoc said that the capital market 's growth rate was over 28.5% a year in 2016-2021, while the stock and corporate bond markets grew over 30% a year. This gradually narrowed the gaps between these markets with the bank credit market and balanced them. Total capital mobilisation in the capital market, including the issuance of stocks, bonds, and equitisation auctions in 2021, reached over 1.12 quadrillion VND, equivalent to 38.7% of the total investment capital of the whole economy. The Ministry of Finance (MoF) assessed that the capital market had played an essential role in mobilising medium and long-term capital for investment in economic development and balanced development between the monetary … [Read more...] about MoF transfers 35 unusual stock mark cases to investigation unit

A worker talking to an investor at MB Securities' office. — Photo courtesy of MBS Despite poor business results in the second quarter, many securities stocks have rebounded sharply after hitting the bottom on June 20-21. Accordingly, Viet Dragon Securities JSC (VDS)'s shares gained 84.7 per cent from VND7,200 a share to VND13,300, while shares of Saigon - Hanoi Securities JSC(SHS) also increased by 65 per cent from VND8,904 to VND14,700. Shares of MB Securities JSC (MBS) jumped 61.3 per cent. Leading securities stocks like SSI Securities Corporation (SSI), Ho Chi Minh City Securities Corporation (HCM) and VNDirect Securities Corporation (VND) to small stocks such as Vietnam Industrial & Commercial Securities Corporation (VIG), Hoa Binh Securities JSC (HBS), and Agribank Securities Corporation (AGR) also surged 30-50 per cent in the last month and a half. Securities stocks have reported a good recovery as the general stock market picked up significantly from the area of … [Read more...] about Securities firms raise capital on recovery of stock prices

Although all the micro-economic and macro-economic advantages are available, it seems that there is no key catalyst for trending towards a new growth level at the stock market. Profits vary Initial statistics show that around 600 corporations have made public their financial statements in the second quarter of 2022. The number could be a bit higher if all the estimated figures were actively made public. Figures will continually be updated over the next few days, but the sales and profits of listed corporations will rise positively. For instance, as estimated by Vndirect Securities Corporation, considering 590 corporations listed by 26 July the total sales and profits in the second quarter increased by 25.3% and 17.9% respectively, over the same period last year. Stocks with high capitalization of more than VND 10,000 bln have recorded an average of 34.3% increase in sales and 24.9% in net profits. It is certainly normal for the stock trading market to have dark and bright … [Read more...] about Stock market showing no indication of growth

The Ministry of Industry and Trade has decided to impose trade remedies against sugar products imported from five ASEAN countries that use Thai sugarcane. — VNA/VNS Photo The Ministry of Industry and Trade has decided to apply measures to prevent evasion of trade remedies against sugar products imported from five ASEAN countries that use Thai sugar materials. It will impose an anti-dumping duty of 42.99 per cent and an anti-subsidy duty of 4.65 per cent on sugar coming from Laos, Cambodia, Indonesia, Malaysia, and Myanmar. However, the imported products will not be subject to the anti-evasion measures if proven to be made from sugarcane harvested in these countries. The tariffs will take effect seven days after the issuance date of the decision (August 2) until June 15, 2026, unless the decision is superseded by new ones from the ministry. The decision followed an investigation by the ministry’s Trade Remedies Authority which concluded that Thai sugarcane products subject … [Read more...] about Trade remedies imposed on sugar imports from five ASEAN countries

As Vietnam steps into the post-pandemic era, experiences and learnings from the pandemic serve as a reminder of the importance of digital transformation and its crucial technology component. Eunjung Han, consultant at Rouse Legal Vietnam and vice chair of the Digital Sector Committee of the European Chamber of Commerce in Vietnam Despite COVID-19’s negative economic and social impact, Vietnam remains an attractive destination to European investors. According to the European Chamber of Commerce (EuroCham) 2021 White Book, Vietnam’s stable macro-economic climate, with inflation in the single digits, continues to increase investor confidence in the country’s trade and investment environment. Only adding to that, the EU-Vietnam Free Trade Agreement (EVFTA) is paving the way for continued foreign direct investment (FDI) from the EU and is viewed as a means for shared recovery and economic rebound. As the first comprehensive FTA between the EU and a developing country in … [Read more...] about EVFTA underpinning growth in Vietnamese tech market

At the meeting The Ministry released the information at today's third session on digital transformation at the government headquarters chaired by Prime Minister Pham Minh Chinh, Chairman of the National Committee on Digital Transformation. According to the work plan, the National Committee on Number Transformation meets quarterly. The third meeting aimed to evaluate digital transformation results in the first six months of 2022 and identify solutions and tasks for digital transformation in the coming time. The meeting was connected to the headquarters of ministries, ministerial-level agencies, governmental agencies, and people's committees of provinces and cities virtually. Addressing the opening session, Prime Minister Pham Minh Chinh stated: The document of the 13th Party Congress has identified the national digital transformation as a very important task, associated with three main pillars including the digital government, the digital economy and the digital society in … [Read more...] about Cashless transaction volumes increase by 76 percent in first 5 months: Ministry

HCMC will deploy electronic one-stop information system for handling administrative procedures Today, speaking at the national online conference on the preliminary review of 6 months of implementing Project 06 on developing the application of population data, identification and electronic authentication for national digital transformation in the 2022-2025 period with a vision to 2030, Vice Chairman of the municipal People's Committee Duong Anh Duc emphasized that the Government's Project 06 is implemented when the southern metropolis is determined to implement the digital transformation program for the building of the smart city, and putting into operation the shared data warehouse, all of which have facilitated the implementation of the Project 06. There are 403 online public services at level 3, and level 4 in HCMC and 25 essential public services under the Government's Project 06. According to Vice Chairman Duong Anh Duc, with the aim to improve the quality of administrative … [Read more...] about HCMC to deploy one-stop information system for handling administrative procedure

A Petrolimex petrol station (Photo: VNA) Hanoi (VNA) – The Vietnam National Petroleum Group (Petrolimex) is adopting a range of solutions in order to complete production and business targets of the third quarter and the entire year of 2022 in the context of unforeseeable fluctuations in petrol prices. One of the solutions is to modernise inventory management while engaging in negotiations with major petrol distributors to ensure supply to meet social demand for petrol. At the same time, the group has taken steps to cut costs in all production and business activities through several projects on centralized fleet management, asset management and customer relationship management. Petrolimex has also worked to increase non-cash payment in retail sales and researched the possibility of building truck stops to provide better services for customers. Under its own plan on digital transformation, the immediate focus is to automate the network of petrol warehouse and retail outlets, … [Read more...] about Petrolimex applies solutions to cope with big fluctuations in petrol prices

As BNPL allows consumers to spread the cost over multiple instalments and attracts those who cannot, or would not, purchase goods or services by paying the price in full, these conditions create the ideal opportunity for BNPL service providers. Bui Ngoc Hong-Partner, LNT & Partners Despite the opportunity, the BNPL landscape in Vietnam remains slow-moving. This is partly due to the fact that Vietnam does not have a clear legal framework regulating the method. Even the sandbox scheme for fintech activities still remains in the legislative pipeline. In addition, even if a BNPL platform owner cooperates with traditional bank lenders, the parties need to deal with a significant gap between the strict regulatory web the traditional lenders are subject to, and the fintech providers’ need to “move fast and break things”. For those reasons, BNPL ventures find it hard to enter the Vietnamese market, unless they are equipped with suitable investment structures. In BNPL … [Read more...] about Clearing the way to legal support for BNPL services