VN's economy robust, PM tells Wall St Journal (28-09-2007) NEW YORK — In an interview with the financial daily Wall Street Journal on September 24, PM Dung stated that after 20 years of integration into the international economy, Viet Nam has made major socio-economic strides, and possesses one of the most robust economies in the region. The country's GDP has quadrupled in 20 years. In 2006, the GDP saw an 8.2 per cent growth rate, ranking second in the region after China, Dung stated. He explained Viet Nam's success with economic improvement by way of its shift in management; the country's transition from a central economy to a multi-sector market economy; abandoning self-contained development and instituting open policies in order to actively integrate into the international economy. He said the Vietnamese Government has maintained a stable socio-political environment during the renewal process and has readily and willingly responded to policy and law adjustment suggestions, … [Read more...] about VN’s economy robust, PM tells Wall St Journal
Domestic Press Highlights (25-10-2005) Interest growing in VN stocks: Wall St Journal US business publication Wall Street Journal has said that after several years, Viet Nam's stock market has begun to draw foreign investors' attention. It reported that the Vietnamese Government had allowed, beginning this week, an increase in foreign holdings in listed firms to 49 per cent from the earlier 30 per cent. Many foreign investors had expressed an intention to invest more in Viet Nam's stock market, the newspaper said. ECONET (Kinh Te Viet Nam & The Gioi) First foreign bank to operate in Chu Lai EZ Taiwan's Cathay Bank will become the first foreign bank to operate in the Chu Lai Open Economic Zone when it opens its branch here on November 1 with a total investment of US$15 million, said the zone's management board. The bank will be the tenth Taiwan-invested project licensed in Chu Lai. In the first ten months of this year, 23 new projects have been licensed in the zone with total … [Read more...] about Interest growing in VN stocks: Wall St Journal
Local Index down despite Wall St rally (13-02-2009) HA NOI — The sinking HCM City stock market tread water yesterday, ending the day off just 0.05 per cent to close at 276.09 points. Many analysts believed that Wednesday's rally on Wall Street, in response to the US Congress' compromise on a US$789 billion economic stimulus bill, saved the domestic market from plunging further. Although concerned with declining business results published by some listed firms, investors stepped up their purchases of a few blue chip shares, helping Pha Lai Thermal Power (PPC), Phu My Fertilisers (DPM) and Thu Duc House (TDH) buck the prevailing trend and gain some points yesterday. Trading volume rose to 7.8 million shares, worth VND159.89 billion ($9.1 million). Refrigeration, Electrical and Engineering (REE) became the most-active share, with 1.25 million traded, followed by Sacombank (STB) with 477,560. "The HCM City Stock Exchange put REE, with other three firms, on observation and issued a … [Read more...] about Local Index down despite Wall St rally
VN shares track Wall St decline (03-10-2009) HA NOI — Continuing heavy sales sent the VN-Index down for a third consecutive day, as trading on the HCM City Stock Exchange once again tracked the downturn on Wall Street. "The decline of the US market overnight only added to the pressures from the current cycle of profit-taking," said independent analyst Nguyen Tien Dung. Major securities firms and institutional investors were pulling capital out of stocks since recent gains had failed to meet their targets of doubling their investments, said Dung. "Once the market began signalling a downturn, securities companies began urging major investors to liquidate shares as quickly as possible, increasing profit-taking pressures," he said, noting significant sales of blue chip shares over the past few days. The VN-Index ended the day yesterday down 3.38 per cent to 549.73. Daily volume on the HCM City market surpassed 71 million shares, worth a combined VND3.8 trillion (US$213.5 million), … [Read more...] about VN shares track Wall St decline
Is VN safe from crisis on Wall St? (19-09-2008) by Le Thanh HA NOI — The US financial sector is deteriorating swiftly. There have been a number of major casualties: Fannie Mae, Freddie Mac, Lehman Brothers, Merrill Lynch, and American International Group (AIG). Earlier, the question was, how can we save these financial institutions? The question today is, who's next? Will Viet Nam be affected? The US, a super economy, accounts for a quarter of the world's gross domestic product and 15 per cent of the world's combined import value, so its impacts are felt everywhere in trade, investment and finance. The US is Viet Nam's largest export market, representing nearly 20 per cent of the country's export value. The US has been Viet Nam's largest investor for many years - including investments through third-party countries. So the US economic crisis directly and indirectly impacts on the global economy in general and Viet Nam in particular. Foreign direct investment in Viet Nam is large … [Read more...] about Is VN safe from crisis on Wall St?