The VN-Index recorded nine hikes in he two weeks since the end of the Lunar New Year holidays (Photo: VietnamPlus) Hanoi (VNA) - This week, Vietnam’s stock markets closed in the green, as the benchmark VN-Index rose 1.34 points to 988.91 points while the HNX-Index inched up 0.7 point to 106.82 points. The VN-Index on the Ho Chi Minh City Stock Exchange (HoSE) enjoyed increases in the whole week (from February 18 to 22) and it was also the ninth hike in two weeks. On February 22, there were 144 rising codes and 152 in decline. The VN30, which measures the performance of the 30 stocks with the highest market capitalisation and liquidity on the HoSE, had 17 advancing codes and 12 others end in red, while one code was flat. In the week, foreign investors posted net purchase value of 772.92 trillion VND (33.02 billion USD), equivalent to 23.64 million shares. E1VFVN30 topped the list with 15.4 million shares purchased, followed by HPG with 8 million shares. The … [Read more...] about Will VN-Index hit 1,000-point mark thanks to investors’ positivity?
Trade weighted effective exchange rate index
Prime Minister Nguyen Xuan Phuc beats the gong to open the New Year's trading session in Hanoi on February 12 (Photo: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc highlighted a bright outlook for Vietnam’s economy while opening a stock trading session after the Lunar New Year holiday in Hanoi on February 12. Citing international organisations’ forecasts, PM Phuc said the World Bank has predicted that Vietnam will record an economic growth rate of over 6.6 percent in 2019. Meanwhile, Standard Chartered and ANZ believe the economy will enjoy the fastest growth in ASEAN and be a highlight in the world’s economic panorama. Some organisations also perceived that there is room for Vietnam’s economy to grow at a pace of 7 percent this year. Echoing the view, the National Financial Supervisory Commission said the economy is likely to expand by 7 percent. The Government leader said those forecasts show the confidence in Vietnam’s economic … [Read more...] about Prime Minister opens New Year’s trading session
These institutions focus mostly on settling their own debt and do not engage much in trading, so the overall process is slow and long in Vietnam, said Dr. Can Van Luc, Chief Economist at BIDV, Vietnam’s biggest state-owned bank, at a conference Friday. The country currently only allows two state-owned firms to trade debt: the Vietnam Asset Management Company (VAMC), and the Vietnam Debt and Asset Trading Corporation (DATC); in addition to banks. Vietnam should open up its debt market to a diverse range of investors as they do in other countries like the U.S., South Korea, China, and Thailand, where the market includes a diverse range of players ranging from investment banks, investment funds, insurance companies, and pension funds to individual investors and professional valuation companies, he said. Vietnam’s market, on the other hand, lacks brokers, professional consultants, and independent asset valuators such as insurance or securities companies. Debt trading is … [Read more...] about Get private sector into debt trade, Vietnam advised
The State management efficiency in granting certificates of origin for enterprises needs to be improved to reduce trade frauds. Customs officials check the origin of goods. The State should improve the management efficiency in granting certificate of origin for enterprises. — Photo baophapluat.vn According to Minister and Chairman of the Government Office Mai Tien Dung, it should continue to create favourable conditions for enterprises in the production and export of goods in accordance with international commitments in free trade agreements. Deputy Minister of Industry and Trade Tran Quoc Khanh said to deal with fraud, the State should promote and improve awareness of enterprise' regulations related to certificates of origin (C/O). Speaking during a meeting at the Vietnam Chamber of Commerce and Industry (VCCI) late last week, Khanh said joining the free trade agreements will help reduce cases of origin fraud. This often occurs for goods exported to markets applying … [Read more...] about Better management on C/O needed to avoid trade frauds in Vietnam
A Vietnamese factory processing tra fish for exports (Illustrative image. Source: VNA) Hanoi (VNS/VNA) - Vietnamese and Chinese enterprises are encouraged to tap into the great bilateral trade potential driven by the two countries’ open trade policies, experts have said. Vietnam values and gives priority to strengthening economic and trade cooperation with China, and hopes to receive greater investment from China and the overseas Chinese community, said Nguyen Noi, Deputy Director of the Foreign Investment Agency under the Ministry of Planning and Investment. “I’m pleased to see that many leading Chinese corporations are expanding their investments in the fields of electronics, renewable energy and IT, applying modern technology and bringing more value in line with Vietnam’s foreign investment orientation,” Noi told a conference on Vietnam-China trade and investment last week. China continued to be Vietnam’s … [Read more...] about Vietnam, China have room to grow trade ties: experts