Advertisements Many Chinese funds are pouring capital into the Vietnamese stock market because of low valuations and further loosening of foreign ownership in the near future. Taiwan-based CTBC Vietnam Equity Fund has registered to buy 21 million VFMVN Diamond ETF fund certificates from September 7 to October 6 to increase its ownership. Besides CTBC Vietnam EquityContinue reading “Why many Chinese funds pouring capital into Vietnam’s stock market”
Category Archives: Finance
Life insurance companies eye bigger slices of Vietnam’s expanding market
Advertisements With life insurance revenues tripling in the last five years, there is intense competition between the country’s three top players. Vietnam had 18 life insurance companies with combined premium revenues of VND106.6 trillion ($4.6 billion) last year, up 24 percent year-on-year and 2.8 times since 2015, according to a recent report by the MinistryContinue reading “Life insurance companies eye bigger slices of Vietnam’s expanding market”
Vietnamese stocks go down, lose grip of 900 points
Advertisements Vietnamese shares curbed their gains on Tuesday as selling increased when the benchmark VN-Index approached the 900-point level. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange inched up 0.19 per cent to close Tuesday at 896.26 points. The southern market index gained as much as 0.46 per cent during the day toContinue reading “Vietnamese stocks go down, lose grip of 900 points”
Vietnam banking industry urged to build inclusive finance system
Advertisements The State Bank of Vietnam (SBV) urged the banking industry to build an inclusive finance system that serves all members of society in Vietnam. SBV Deputy Governor Nguyen Kim Anh told the industry’s conference on the action plan to serve the national financial strategy to 2025 that: “The inclusive finance system needs to specify vulnerable groups, helping themContinue reading “Vietnam banking industry urged to build inclusive finance system”
CIMB Bank Vietnam and SmartPay: the future of banking on e-wallet
Advertisements Digital disruption is already a fact of life around the world. In just two years—between 2017 and 2019—the number of e-wallet users globally exploded from 500 million to 2.1 billion. Both the e-wallet providers that are disrupting Southeast Asia’s payments market and the region’s incumbent traditional banks face significant challenges as digital payments graduateContinue reading “CIMB Bank Vietnam and SmartPay: the future of banking on e-wallet”
How Techcombank has been named “House of the year, Vietnam”
Advertisements Asia Risk Awards 2020 While countries struggle globally with how to reboot their economies from the impact of the coronavirus, Vietnam is dealing with the less arduous task of managing slower-than-expected growth. According to the World Bank, the South-east Asian country is due to post growth figures of 2.8% for 2020, potentially increasing toContinue reading “How Techcombank has been named “House of the year, Vietnam””
MUFG Bank appoints its new Head of Global corporate banking in Vietnam
Advertisements Mitsubishi UFJ Financial Group, Inc.’s commercial banking entity, MUFG Bank, has just appointed Hoang Thi Tuong Khanh as Director and Head of Global Corporate Banking in Vietnam. Khanh joined the bank on 17 August 2020 and she will be responsible for the bank’s coverage of local and global corporate clients in the country. BasedContinue reading “MUFG Bank appoints its new Head of Global corporate banking in Vietnam”
Vietnam economy may surpass Thailand, Indonesia soon: Expert
Advertisements As a production hubs of world major tech firms such as Samsung, Vietnam is capable of manufacturing sophisticated products with high technological content, said an expert. Vietnam’s economy could surpass Thailand, Indonesia or the Philippines in coming years, according to C.K. Tong, CEO of BW Industrial Development, a joint venture between the US privateContinue reading “Vietnam economy may surpass Thailand, Indonesia soon: Expert”
Vietnam foreign exchange reserves surge to a record high
Advertisements The Vietnamese government recently reported that its foreign exchange reserves surged US$12 billion to a record high of $92 billion after the first eight months of 2020 and are expected to reach $100 billion by the end of the year. Vietnam’s forex reserves have been on a steady rise in recent years from $51.5 billionContinue reading “Vietnam foreign exchange reserves surge to a record high”
Opportunity for digital transformation in COVID-19 pandemic time
Advertisements Since the start of the coronavirus, consumer demand for digital banking has never been greater. Unfortunately, many organizations that were delaying digital transformation efforts have been caught flat footed, without the ability to deliver a positive digital experience. The good news is that, with overall transaction volume low, the opportunity to build improved digitalContinue reading “Opportunity for digital transformation in COVID-19 pandemic time”
USD/VND exchange rate forecast to remain stable until year-end
Advertisements In addition to a weakening US dollar, the ample supply of dollars thanks to Vietnam’s record trade surplus is a major factor that could keep a stable USD/VND exchange rate. The USD/VND exchange rate in the last four months of the year is expected to remain stable, thanks to a weakening US dollar, Vietnam’sContinue reading “USD/VND exchange rate forecast to remain stable until year-end”
Investors double their deposits in largest 40 securities companies
Advertisements Money deposited with the largest 40 securities companies in the country in H1 2020 was nearly double that of H2 2019 at VND31 trillion ($1.3 billion). The funds available for trading as of August 20 was twice the daily average trading value of March 2018, when the VN-Index hit an all-time high of 1,204Continue reading “Investors double their deposits in largest 40 securities companies”
Fitch Solutions forecast Vietnam to record real GDP growth of 3.0% in 2020
Advertisements Fitch Solutions forecast Vietnam to record real GDP growth of 3.0% in 2020, and the global economy to contract by 4.0%. Vietnam’s current account surplus is set to narrow to 3.7% of GDP in 2020, down from 4.9% in 2019, mainly due to the collapse in tourism causing a sharp fall in the servicesContinue reading “Fitch Solutions forecast Vietnam to record real GDP growth of 3.0% in 2020”
Property prices in HCM City’s east boom
Advertisements HCM City’s plan to establish Thủ Đức City by merging districts 2, 9 and Thủ Đức has caused property prices in the three eastern districts to increase sharply. The prices of some existing apartments on Đồng Văn Cống Street and Hà Nội Highway in District 2 have increased by nearly VNĐ300-400 million (US$12,944-17,259) eachContinue reading “Property prices in HCM City’s east boom”
VIB to move 924.5 million shares to HCMC Stock Exchange from the UPCoM
Advertisements Vietnam International Joint Stock Bank will move 924.5 million shares to Ho Chi Minh City Stock Exchange from the Unlisted Public Company Market, according to exchange filing. The Vietnamese lender was reported to have sent registration documents for listing shares worth nearly VND9,245 billion ($398 million) to the Vietnam’s main stock exchange on Monday.Continue reading “VIB to move 924.5 million shares to HCMC Stock Exchange from the UPCoM”