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/ March 8, 2021

VIETNAM NEWS HEADLINES MARCH 8

Vietnam begins COVID-19 vaccination on March 8 Vietnam launches its COVID-19 inoculation drive on March 8 morning, administering the AstraZeneca vaccine to medical workers in Hanoi, Ho Chi Minh City and northern Hai Duong province – the country’s biggest pandemic hotspot at present. The vaccination is conducted at the Central Hospital for Tropical Diseases in Hanoi, the HCM City Hospital for Tropical Diseases and two medical centres in Hai Duong. As many as 100 staff members of the Central Hospital for Tropical Diseases are expected to receive the shots in the morning of March 8. The hospital is allocated 450 doses among the first batch of 117,600 doses of AstraZeneca vaccine the country has received. In Hai Duong, 50 medical workers at Hai Duong city’s medical centre, and 30 others at Kim Thanh district’s medical centre will be the first in the province to be injected. The Ministry of Health has allocated the vaccine to 13 localities, along with the Ministry of National Defence, the Ministry of Public Security and 21 hospitals during the first phase. Among the localities, all having reported COVID-19 cases since the latest wave of outbreaks since January 27, the Hanoi Centre for Disease Control (CDC) is given 8,000 doses, Hai Duong CDC 32,000, and HCM City CDC 8,000. Meanwhile, the Ministry of National Defence and the Ministry of Public Security each receive 30,000 doses. At a meeting on March 6, Health Minister Nguyen Thanh Long stressed the need to ensure equality in vaccine access as suggested by the WHO, UNICEF and COVAC. The localities excluded in the first phase should continue to prepare for the inoculation, with training programmes, he said, adding that they would receive the vaccine after the next shipment arrives in Vietnam in March. The ministry will roll out the vaccination in all COVID-19 treatment hospitals, prioritising those involved in frontline work, and those who participate in the pandemic combat in the community like …

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/ March 8, 2021

VIETNAM BUSINESS NEWS MARCH 8

Small investors oppose expanding trading lot Ho Chi Minh City Stock Exchange (HOSE)’s proposal to raise the minimum trading lot to 1,000 shares is receiving mixed opinions from market experts and investors. The proposal was initiated by newly-appointed General Director of HOSE Le Hai Tra as a solution to reduce system overloads which have troubled traders recently. A 1,000 minimum trading lot will limit the participation of small investors, while the stock market is moving towards fairness and equality, said a budding investor. “My friends and I, when joining the stock market, only have a few tens to several hundreds of millions of dong, raising the minimum trading lot to 1,000 shares will directly affect our investment capacity,” said individual investor Diep. “With expensive stocks, we may have to spend hundreds of millions of dong to buy the minimum 1,000 shares,” she said. According to Diep, the stock market has never had such a chance for growth. New cash flow into the market pushed liquidity to a record high level. However, the new proposal may not only prevent new investors from entering the market but also discourage existing investors. “The plan to raise the minimum trading lot to 1,000 shares could quickly reduce the number of orders delivered daily on HOSE. However, it will cause frustration among small investors who are directly affected by the plan as they think they are not protected,” said Do Bao Ngoc, Deputy General Director of Kien Thiet Securities Vietnam (CSI). “This plan, if in place, will affect the rapid development of the stock market under the current favourable conditions, one of which is great interest from global investors,” he said. “Under the new plan, the most affected are the investors whose trading accounts have VND1 billion or less,” said Nguyen Hoang Hai, Vice Chairman of Viet Nam Association of Financial Investors (VAFI) According to VAFI statistics, investors whose trading accounts have VND500 million or less …

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/ March 9, 2021

Investors feel insecure about Ho Chi Minh City Stock Exchange congestion, move to other bourses

Two investors look at stock prices on a laptop in HCM City. — Photo courtesy of Vietnambiz.vn The chronic congestion on the Ho Chi Minh City Stock Exchange (HoSE) has caused losses for retail investors, making them insecure. Instead of congestion, and errors, only in the afternoon or near the close like previously, errors are now occurring even in the morning. For example, on March 5, just after the market opened, the security live board froze and failed to show realtime prices. Nguyen Kha, a veteran investor in HCM City, said he punched in an order to sell HBC shares on March 3 when it jumped to above VND18,500 (US$804 million), but only half his order was matched, and in the next few days had to sell at below VND18,000 since he needed money, losing VND1,000 per share. Another investor on HoSE said he has been in a constant state of insecurity recently and cannot do any other work after placing orders since one needs to watch the screen to see if the order is matched. This insecurity has caused many investors to switch to trading on the Hanoi Stock Exchange (HNX) and UPCoM, causing shares there to skyrocket in terms of both price and trading. On March 4 UPCoM saw trading worth VND1.7 trillion, twice the normal average. Drastic solutions To tackle the overload at HoSE, the State Securities Commission (SSC) said it is speeding up installation of a new trading system provided by the Korean Exchange (KRX). Last week it instructed the temporary transfer of shares from HoSE to HNX to much acclaim from both investors and analysts, but a difficult task since listed companies need to get approval from their shareholders. Besides, it could take securities companies one to two months to meet the technical changes involved in identifying the shares transferred to the HNX. Some need even six to nine months. Dr Nguyen Van Thuan of the University of Finance and Marketing told Thanh Nien (Youth) newspaper however that since this solution has the least …

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