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Around $200 billion is now in tumult after a succession of days of network congestion and the news about the required increase in minimum trading lot from 100 to 1,000 shares on the HCM City stock market. Nguyen Giang, owner of The Way Coffee, completed the procedure to open an account at SSI Hanoi Branch after hearing that the HCM CIty Stock Exchange (HOSE) was planning to increase the required minimum trading lot from 100 shares to 1,000 shares. The reason behind the plan, as explained by Le Hai Tra, HOSE’s CEO, was to ease the overload. However, this was not good news for many investors, including Giang. Because of Covid-19, he no longer can work as an outbound tour guide, which he did for 10 years. In 2020, he opened a street coffee shop. However, the third Covid-19 outbreak once again affected his business. Giang then decided to make financial investments as he has confidence in the bright prospects of the stock market. However, the calculations of the investor may fail because of HOSE’s tentative policy. If the tentative policy takes effect, Giang will have to spend VND100 million at least for every purchase transaction of VIC (Vingroup), VJC (Vietjet), VCB (Vietcombank) and VNM (Vinamilk). If buying SAB (Sabeco), he would have to spend VND180 million at least, and ifor VCF (Vinacafe Bien Hoa), he would have to spend VND240 million. These are very large amounts of money compared with Giang’s investment plan. However, Tra said the policy, once applied, would bring benefits. It would not only help ease congestion thanks to the reduction of 40-50 percent in number of transactions, but would also better protect small investors. Nguyen Duy Hung, president of SSI, also commented that this is the best choice for now to maintain the system’s operation. However, many experts and securities companies don’t share the same view. They have warned that the policy isn't in line with stock market development and discriminates against small and …

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The Hanoitimes - Vital transport projects in Hanoi have been suspended until April 15 with a view to curbing mass gatherings and preventing Covid-19 from spreading. Construction of Hanoi's vital transport projects, including the Nhon - Hanoi Station sky train and the viaduct of Ring Road 2, has been temporarily stopped following the government directive on enhancing social distancing, VnExpress reported. Those works have been suspended until April 15 with a view to curbing mass gatherings and containing the Covid-19 pandemic. A section of the Nhon - Hanoi Station metro project on Kim Ma Street on April 2. Photo: VNE Currently, no workers are seen on the construction site of the Nhon - Hanoi Station sky train but only a dozen of machines which are gathered in one place and covered. Before Hanoi entered social distancing, around a thousand workers and experts were present at the site day and night. After 10 years, the project’s underground sections are still being dug. The Hanoi Metropolitan Railway Management Board said that the resumption of works depends on the Covid-19 evolution. Similarly, the construction site of Viaduct of Ring Road 2 is empty as workers have 15 days off though the viaduct is expected to be inaugurated at the end of this year. Works on the Ring Road 3 viaduct project from Mai Dich overpass Thang Long bridge are still underway, however only a dozen of workers are seen on their site. Pham Anh Tu, head of Project Management Department 1 under Ministry of Transport, explained that this is a key project, and needs to be completed as the earnest time possible. However, workers have to comply with preventive measures such as body temperature check, hand sanitization and use of face masks. Some 90% of the project has been completed and it is expected to be inaugurated and opened to traffic by the year-end. As of April 3, Vietnam has recorded 233 Covid-19 patients, of which 75 have been cured and discharged from …

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HCMC Transport Department proposes stopping bus advertising The Saigon Times Buses on a street in HCMC display advertisements. The HCMC Department of Transport has proposed stopping bus advertising - PHOTO: VNA HCMC - The HCMC Department of Transport has proposed that the city stop bus advertising due to low demand. Since 2017, only one business won the bid for the right to advertise on buses in the city. The three-year package worth VND162 billion has just expired. All other tenders for bus advertising in the city failed to attract businesses although the Transport Department has lowered the charges, relaxed the requirements and offered flexible payment options. According to the head of an advertising company, the demand for outdoor advertising, including bus advertising, in the city was high 10 years ago, but has dropped drastically as clients are switching to online advertising. Besides this, many buses in HCMC have become old and worn out, while the prices of bus advertising are higher than that of online advertising. Moreover, the HCMC Transport Department said the Covid-19 pandemic has severely affected the operations of the city’s bus system. HCMC now has over 2,300 buses running on 137 routes. The city spends more than VND1 trillion to subsidize its bus system every year. If businesses advertised on all of the buses, the city would earn more than VND100 billion from bus advertising annually. …

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