Securities firms cautious on directionless stock market Viet Nam’s stock market struggled to find direction last week as liquidity fell continuously and foreign investors net sold a value of more than VND2.22 trillion (US$96.6 million), causing analysts from securities firms to have cautious views of the market this week. On the Ho Chi Minh Stock Exchange (HoSE), the market benchmark VN-Index inched down in the last trading session to 1,268.83 points, while the HNX-Index on the Ha Noi Stock Exchange (HNX) plunged to 301.77 points. For the week, the VN-Index lost 2.34 per cent and the HNX-Index plummeted 1.95 per cent. Both benchmarks had declined more than 4 per cent since the close of trade Monday. The liquidity on both exchanges declined compared to the previous week. It was lower than the recent 20-week average, with a value of VND20.5 trillion per session. The trading value on the HOSE decreased by 5.2 per cent to VND91.54 trillion, equivalent to a drop of 4 per cent in …
VIETNAM BUSINESS NEWS JULY 27
Banks set conditions to lower interest rates The recent news by several Commercial Banks to lower lending interest rates can be considered good for businesses in particular and the economy in general. However, lowering loan interest rates is difficult to achieve. Deputy Governor Dao Minh Tu of the State Bank of Vietnam had assigned the Vietnam Banks Association (VNBA) to gather consensus on reducing of interest rates. After VNBA held an online meeting, a record sixteen Commercial Banks agreed to reduce interest rates to support businesses facing difficulties during the current ongoing Covid-19 pandemic. It is believed by many, that reduced interest rates at this time will prove to be a salvation for businesses, besides also providing support for banks. In a nutshell, it will be a boon for businesses, and also lend support to debtors in recovering from their debts. If enterprises are in trouble and unable to pay their debts, it causes more bad debts, besides increasing risk …
FPT Software invests in a technology company in Latin America
Intertec International's office in Costa Rica. — File photo HÀ NỘI — FPT Software announced an investment in Global IT service provider Intertec International (Intertec), aiming to advance its efforts to provide solutions, technology services and digital transformation in the Latin American market. This investment is aligned with the strategic direction of FPT, which is intended to optimise the efficiency of combining resources of its service centres in the US and ones in neighbouring markets. Pursuant to the investment agreement, FPT Software is entitled to access and allocate resources of Intertec's 2 service centres in Costa Rica and Colombia. This deal also enables FPT Software to tap into Intertec’s wealth of operational experience in Latin America (LATAM). On this account, FPT Software would be able to expand business opportunities in the US and LATAM, and address increasing demand in these two markets. With this co-operation, Intertec International …
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Real estate firms aim to adapt and thrive in the “new normal”
Vinhomes activates the “Happy Home” program for apartment owner – lessee connection at stage 2 Vinhomes to officially launch The Miami subdivision in Hanoi's west UNLOCKING THE SYNERGIES OF URBAN BRANDED RESIDENCES IN VIET NAM CT Group shares its experiences in fighting COVID-19 TechX Corporation named 2021 AWS Consulting Partner of the Year in Vietnam As old strategy becomes outdated and unsuitable to the new economic environment as a result of COVID-19, the change needed for further sustainable development is a challenge that most real estate developers have to overcome. Despite the complicated development of the COVID-19 pandemic, the housing market in Ho Chi Minh City and Hanoi recorded encouraging results in the first half of 2021. In the primary market, the number of successful transactions rose by 28 per cent in HCM City and 20 per cent in Hanoi. In the reporting period, more than 7,900 newly-built apartments were sold in Hanoi, 10 per cent …
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Viet Solutions helps startups amid difficulties
Covid-19 poses challenges but also opportunities for startups. Instead of groping around for development paths and accepting the high failure probability rate, they can seek support from incubators like Viet Solutions. Le Ba Tan, Deputy CEO of Viettel Networks An online workshop with the theme ‘Starting up during the Covid-19 crisis’, a sideline event of Viet Solutions 2021 competition, was organized with an aim to find a way for startups to develop amid the pandemic. The panel speakers at the event included Le Ba Tan, Deputy CEO of Viettel Networks; Nguyen Hoang Tung, founder of Vi Viet Nam AI, the startup which once won first prize at Viet Solutions 2019; Hung Tran, co-founder and CEO of Got It, a startup from Silicon Valley; and Tran Quang Hung from Vinacapital Ventures. Solving current and post-Covid-19 pains This was a hot topic of discussion at the workshop. Tan said that for businesses, struggling with Covid-19 to exist is a must. However, businesses have to …
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