Advertisements Vietnam’s stock market, which only last month traded at a record high, is now poised to enter a bear market. A decline of as much as 2.9 percent on Monday pushed losses in the VN Index to 22 percent from a peak in April. The benchmark measure, which was the year’s best performer inContinue reading “Vietnam’s Gone From Traders’ Favorite to Bear Market”
Category Archives: Finance
Vietnam’s Techcombank readies for market debut after raising $922 million
Advertisements HANOI, May 23 (Reuters) – Vietnamese lender Techcombank will list its shares on the Ho Chi Minh Stock Exchange next month, the bank said on Wednesday, making it the country’s seventh biggest firm by market value. Techcombank raised $922 million last month in one of the country’s biggest initial public offerings. Its cornerstone investorsContinue reading “Vietnam’s Techcombank readies for market debut after raising $922 million”
Foreign funds see profits vanish in market slump
Advertisements Volatility on Vietnam’s stock market in the past two months has dragged down the performance of foreign investment funds here. Việt Nam’s benchmark VN-Index on the HCM Stock Exchange has declined about 18 per cent in the last two months, eating away most of its gains of over 19 per cent in the firstContinue reading “Foreign funds see profits vanish in market slump”
How foreign banks perform in Vietnam?
Advertisements The number of 100 percent foreign owned banks in Vietnam has increased by twofold in the last two years to nine. HSBC divested from Techcombank, while Commonwealth Bank transferred the HCMC branch to VIB and BNP Paribas sold its 18.7 percent stake in OCB after one decade of being a shareholder of the bank.Continue reading “How foreign banks perform in Vietnam?”
Việt Nam’s tax system reviewed
Advertisements The collection of indirect taxes in Việt Nam is forecast to increase in the future while direct taxes is predicted to account for a smaller proportion, according to a Fair Tax Monitor Index report released by Vietnam Institute for Economic and Policy Research (VEPR) yesterday. Associate Professor Nguyễn Đức Thành, VEPR head said theContinue reading “Việt Nam’s tax system reviewed”
E-Invoice Use Rises In Vietnam Ahead Of Mandate
Advertisements In Vietnam, eInvoice use is on the rise: The number of firms in the country using eInvoices has skyrocketed from 800 in 2016 to more than 9,000 today. Overall, Vietnamese firms have created more than 600 million eInvoices, VietNamNews reported. Even so, that number is relatively small compared to the more than a halfContinue reading “E-Invoice Use Rises In Vietnam Ahead Of Mandate”
P2P lending feared to trigger black credit
Advertisements Peer to Peer Lending (P2P), under which lenders and borrowers connect via apps, has been developing rapidly in Vietnam. Nguyen Thi Thinh, 20, a petty merchant in HCMC, said she borrowed money this way recently. “I needed tens of millions of dong and I decided to use P2P lending service because of its convenience:Continue reading “P2P lending feared to trigger black credit”
Fuel prices raised sharply
Advertisements The retail price of biofuel E5 RON 92 increased by VND500 to VND19,940 (USD0.87) per litre on May 23 following a joint decision of the Ministry of Finance and Ministry of Industry and Trade. According to the ministry’s adjustment, the price of RON 95-III also rose by VND600 to VND21,511 per litre, while theContinue reading “Fuel prices raised sharply”
Vietnam Dealbook: Alp Asia is ACB’s major shareholder; SeAbank buys VNPT arm
Advertisements Alp Asia Finance Vietnam Limited has become ACB’s major shareholder while Hanoi-headquartered Southeast Asia Commercial Joint Stock Bank (SeAbank) has officially acquired VNPT’s finance arm. Alp Asia Finance Vietnam becomes ACB’s major shareholder According to a report by DealStreetAsia, the two funds Whistler Investments Limited and Sather Gate Investments Limited, wholly owned by AlpContinue reading “Vietnam Dealbook: Alp Asia is ACB’s major shareholder; SeAbank buys VNPT arm”
Bloomberg: Vietnam’s Stock Market Crash Is a Buying Opportunity
Advertisements The nation’s benchmark equity index has erased nearly all of its 2018 gains It only took about six weeks for Vietnam’s benchmark VN Index to go from being Asia’s best performing stock market in 2018 — advancing as much as 22 percent by early April — to being nearly flat for the year. BloombergContinue reading “Bloomberg: Vietnam’s Stock Market Crash Is a Buying Opportunity”
Thai ‘investment wave’ in Vietnam getting stronger
Advertisements Thai investors are expected to increase their presence in Vietnam through capital contribution and M&A deals, analysts say. This will pose a challenge for Vietnamese goods. The first Thai investors came to Vietnam in 1992 and poured $50 million into Vietnam after the first two years. However, the Thai investment has become stronger inContinue reading “Thai ‘investment wave’ in Vietnam getting stronger”
Ignoring protests, banks insist on raising service fees
Advertisements The number of e-banking service users had reached 81 percent by the end of 2017, according to IDG. Meanwhile, according to the Vietnam Card Association, 132 million cards had been issued with associated services. Vietcombank in early March announced fee increases applied to a number of services. The account maintenance fee was raised fromContinue reading “Ignoring protests, banks insist on raising service fees”
Fintech and Foreign Banks Growing Fast in Vietnam
Advertisements Vietnam currently lags behind other Southeast Asian countries when it comes to financial inclusion. Can foreign players and fintech solutions fill the gap? In Vietnam financial technology is increasing bank penetration, promoting financial services and offering the large unbanked population access to payment solutions. With a population of almost 93 million and a surgingContinue reading “Fintech and Foreign Banks Growing Fast in Vietnam”
Ministry proposes sugar soft drink tax
Advertisements The Sugar and Sugarcane Association has objected to the proposal by the Ministry of Finance to levy a special consumption tax of 10% on sugary soft drinks. The Ministry of Finance has been completing and gathering opinions for the laws on a special consumption tax since late 2017. The ministry recently proposed levying aContinue reading “Ministry proposes sugar soft drink tax”
Vietnam, with its low property prices, has become a new treasure hunting ground for Hong Kong and China buyers
Advertisements With properties priced at a discount to those in neighbouring Singapore and Thailand, Vietnam is rapidly drawing Hong Kong and China investments its way and becoming a popular investment destination. Buyers from the mainland, Taiwan and Hong Kong last year accounted for 25 per cent of the Southeast Asian nation’s total transactions by foreignContinue reading “Vietnam, with its low property prices, has become a new treasure hunting ground for Hong Kong and China buyers”