VietNamNet Bridge - The nine biggest investors in the Vietnamese stock market hold shares worth more than $1 billion, according to CafeF. In August 2016, CafeF reported that eight institutions and individuals were holding listed shares valued at $1 billion and more. These included one individual, two ministries, two state-owned enterprises and three foreign investors. They were the State Bank of Vietnam (SBV), PetroVietnam, the State Capital Investment Corporation (SCIC), the Ministry of Finance, Dragon Capital, F&N Dairy Investment, Mizuho Bank, and one individual – Pham Nhat Vuong, president of Vingroup. With the government’s serious measures to encourage enterprises to list shares on the bourse, the club of billion-dollar investors in the stock market has had new members – two ministries and one individual. The nine biggest investors in the Vietnamese stock market hold shares worth more than $1 billion On November 21, nearly 2.17 billion ACV shares of the … [Read more...] about Industry & Trade Ministry joins club of billion-dollar investors in stock market
Trillion dollar club
Vietnam’s growing middle income class pump up fitness industry
Gyms have been popping up like Popeye's muscles in major cities across the country. Commercial gyms used to be a rarity in Vietnam, where 70 percent of the population lives in rural areas with labor-intensive agricultural production as the main source of livelihood. This has all changed now, and the booming fitness industry has the country’s average 5 percent economic growth since 1999 to thank for that. The World Bank forecasts that Vietnam’s $200 billion economy is likely to grow to a trillion dollars by 2035 with more than half of its population, compared with only 11 percent today, expected to join the ranks of the global middle class with consumption of $15 a day or more. The rapidly growing middle class, mainly living in urban areas, are traveling farther, eating healthier and becoming fitter. Over the past 10 years, an increasing number of people have joined gyms, gradually transforming regular workouts from a niche interest to a mainstream pursuit. For many … [Read more...] about Vietnam’s growing middle income class pump up fitness industry
Mobile World plans foreign expansion
MobileWorld (HOSE: MWG) plans to expand its operations abroad, as the domestic market of smart phone trading has become saturated. In addition, MWG will issue numerous strategies to control its market shares in mobile phone and electric houseware retail in the domestic market, as well as retain its development speed from previous years. Notably, MWG will also pilot its e-commerce website named Vuivui.com. The website will not make profit for the company in the short-term, however, the management board expects that it will contribute 10 per cent to the company’s total revenue by 2020. In addition, developing the Dien may Xanh mini chain, which has an area of 300-400 square metres per store instead of the 800-1,000 at its general stores, is considered MWG’s latest strategy to extend its market shares in mobile phones and electric houseware trading in the domestic market. The Dien may Xanh mini chain will penetrate suburbs and rural areas. MWG currently has over 900 … [Read more...] about Mobile World plans foreign expansion
Multi-million-dollar resort booming in Vietnam
Due to large-scale investments of big players, series of luxury resort real estate projects were consecutively brought into the market only in a short time. The offering event about luxury resort projects of Sun Group in Singapore last month attracted the interest of not only the inhabitants but also the investors there. The group’s resorts include Premier Village Phu Quoc Resort, Premier Village Danang Resort and InterContinental Danang Sun Pensinsula Resort. Meanwhile, Vinpearl Resort & Villas of Vingroup is currently offering its villas at the cost of over $1 million each in Danang, Khanh Hoa and Phu Quoc. At the end of 2015, Eurowindow announced its investment of more than VND2 trillion (nearly $100 million) to construct two 5-star resorts on a 35-hectares site - Mövenpick Cam Ranh Resort (24ha) and Radisson Blu Cam Ranh Resort (more than 11ha) on Bai Dai coast in the central province of Khanh Hoa’s Cam Ranh bay. Mövenpick Cam Ranh Resort is a … [Read more...] about Multi-million-dollar resort booming in Vietnam
Vietnamese businessmen who cherish ‘billion-dollar dream’
VietNamNet Bridge - A lot of Vietnamese businessmen nurture plans to ‘do big business’. Some of them have succeeded, while others have tasted failure, but they do not give up, still awaiting new opportunities. Hoa Phat Group, owned by Tran Dinh Long, one of the best known businessmen, is expected to havev good news to tell shareholders at the upcoming meeting. This year’s shareholders’ meeting is believed to be quite different from the last year’s dull meeting. Hoa Phat gained revenue growth rate of 8 percent compared with 2014 amid massive imports of Chinese low-cost steel products which caused many other steel manufacturers to suffer. With revenue of VND28 trillion, or $1.25 billion, Hoa Phat is listed among the limited number of companies with revenue of over $1 billion. Hoa Phat gained revenue growth rate of 8 percent compared with 2014 amid massive imports of Chinese low-cost steel products which caused many other steel manufacturers to suffer. … [Read more...] about Vietnamese businessmen who cherish ‘billion-dollar dream’