Participants to financial markets

Implementing the Decision No. 08/2022/QD-TTG dated March 28, 2022 of the Prime Minister on the implementation of housing rental assistance policy for employees, over the passing time, the Vietnam Social Security Agency has been directed to concentrate on human resources, reforming administrative procedures, applying information technology to confirm soon cases being eligible to receive financial support for a rental house in the spirit of ensuring publicity, transparency and eligible beneficiaries. As for employees who are working in enterprises, each eligible person will be received financial support of VND500,000 (US$21.5) a month with a maximum support period of three months. In 50 provinces and cities nationwide, the Vietnam Social Security Agency has confirmed 9,657 units with 397,588 workers, including 393,759 contracted workers being subject to mandatory social insurance to be received the financial support. Regarding people having just returned to the labor market who … [Read more...] about Over 400,000 employees confirm to receive rental house financial support

Jesse Choi, CEO of Sunwah Innovations and director of Sunwah Vietnam talked about Vietnam's market entry opportunities and strategy The webinar received around 100 participants including experts and representatives of corporates, startups, universities, incubators and accelerators, venture capital firms, and business associations from Vietnam and neighbouring countries and territories including Cambodia, Singapore, Japan, South Korea, China, and Hong Kong. Vietnam has seen significant improvements in developing a dynamic and open business environment. In the post-pandemic period, the country stands firm as one of the most attractive destinations in the Southeast Asian region for foreign investors and businesses including venture capital firms and startups. Realising an increasing need from overseas startups and supporting organisations to explore and gain footholds in the market, Sunwah Innovations organised the Vietnam Market Entry Opportunities and Strategy webinar. It was … [Read more...] about International webinar on Vietnam’s Market Entry Opportunities and Strategy

According to the Petroleum Securities Company, Vietnam’s stock market has been in a downtrend since June 15 when it fell more than 20 per cent from its all-time high and around 19 per cent since the start of 2022. The VN-Index has also continuously broken important support levels, notably the highly-expected support test area of 1,200 points. This left investors unable to understand the cause, with some in a state of panic when the stock reached the lowest point last week and plummeted steeply again this week. At a talk show named “Taking action in the eye of the storm” held by VIR on June 23, Ngo The Hien, analyst director of Hanoi Securities Company explained the sharp decline was based on three factors. “The market is impacted by negative signs, particularly news that US inflation is reaching peaks, which prompted the Federal Reserve to increase interest rates by 0.75 percentage points, thus producing market volatility in the global and domestic market,” Hien said. “Secondly, … [Read more...] about Spooked investors keep tabs on market turbulence

Ring road plan to transform market - Illustrative photo (Source: VNA) The government has asked the National Assembly (NA) to consider and decide on the policy for investing in the ring roads to be located in the country’s two biggest cities. Tran The Anh, sales director of Thang Loi Group, said that the land fund in inner cities is increasingly exhausted and prices are high, with investors turning to suburban real estate. “There is a thirst for houses for those living and working in Ho Chi Minh City in particular,” The Anh said. “The shifting trend of investors and individual financiers is also creating a new vitality for the real estate market in the suburbs.” One of the issues discussed by NA delegates and experts is how to exploit the land fund around the two ring roads, which will soar in value. Already in many places, the price of land in the area has increased dozens of times over. “Because the two routes will open up a vast land fund, the management of auctions of … [Read more...] about Ring road plan to transform market

Inside a wood production line of Truong Thanh  Furniture Corporation. (Photo truongthanh.com) Hanoi (VNS/VNA) - As wood export turnover is rebounding with rising demand in the domestic market , the revenues of wood enterprises are expected to advance. However, skyrocketing prices of raw materials and logistics costs will weigh on these companies’ gross profit margin in 2022. VNDIRECT Securities Corporation (VNDIRECT) estimated that the total revenue of listed wood and wood products companies in the first quarter (Q1) of 2022 rose by 10.2% year-on-year thanks to the recovery of wood producers in the south. After the social distancing order was lifted, most wood companies in the southern region resumed operations at 90% capacity in the first quarter of 2022, while in the second half of 2021 it was only 60-65%. The export wood enterprises achieved better business results in Q1 of 2022. Specifically, Truong Thanh Furniture Corporation (HoSE: TTF) and Phu Tai JSC (HoSE: … [Read more...] about Rising costs cast doubt on wood companies growth prospects

Before today's trading session, investors received the news that the Vietnam Securities Depository (VSD) had recently consulted on a draft regulation on clearing and payment of securities transactions under the direction of adjusting the payment time for completing the T+2 settlement cycle of the State Securities Commission of Vietnam. One of the essential contents of this draft is the adjustment of the time for securities settlement and clearing banks to complete payment from 3.30 p.m. to 4 p.m. to from 11.30 a.m. to 12.30 p.m. on the trade date plus two days (T+2). With this new regulation, investors can trade right in the afternoon trading session of T+2. According to the draft, the money for securities transactions will be transferred to investors' accounts one day earlier than the old regulations. Therefore, investors can use the money to buy securities right in the afternoon trading session of T+2 instead of having to advance money as before. The new regulation on clearing … [Read more...] about Securities stocks strengthen after draft on T+2 settlement cycle

From May 24 to June 30, the Vietnam Private Sector Competitiveness Enhancement Project (USAID IPSC), has organised a 5-week training course called “E-commerce – a must in Industry 4.0”, as part of its cross-cutting market expansion support package for Vietnamese businesses. At the end of the course, participants attended the event “Connecting business with domestic and international e-commerce platforms” to learn from successful, real-world experiences from e-commerce platforms including Amazon Global Selling and Shopee. According to Nguyen Thi To Uyen, head of the building business management capacity at USAID IPSC, the project is funded by the United States Agency for International Development (USAID), with the support of the Ministry of Planning and Investment as the government partner. The expert also showed participants how to use analysis tools from Amazon as well as other platforms for conducting market research and store management. Lasting for five years, the … [Read more...] about USAID IPSC Project connects Vietnamese enterprises with e-commerce giants

Do Hung Viet, Assistant to the Vietnamese Minister of Foreign Affairs, made the remarks while attending the annual debate on women’s rights at the HRC’s 50th regular session in Geneva on June 27. In his speech, Viet highlighted the important role of women, stressing the need to ensuring their rights and development opportunities through specific and effective support policies. He also shared Vietnam’s experience and efforts in this regard, noting Vietnam is one of the countries with the longest maternity leaves in the world. Emphasising the country’s priority for gender equality promotion and women empowerment, he added Vietnam is ready to cooperate with other countries in these common efforts. At the debate, participants underlined the necessity to build comprehensive and effective policies for ensuring gender equality and rights of women, who are in charge of a huge domestic workload but unpaid or underpaid, which has subsequently affected women’s full participation in … [Read more...] about Vietnam keeps prioritizing gender equality promotion: officials

Shinhan Finance will provide Shinhan Life's life insurance products through its distribution channels as part of an agreement signed on June 28. — Photo courtesy of the company Shinhan Life Insurance Vietnam Limited Liability Company (“Shinhan Life Vietnam”) and Shinhan Vietnam Finance Company Ltd. (“Shinhan Finance”) officially signed a strategic partnership agreement on June 28. Under the framework of the agreement, Shinhan Finance will provide Shinhan Life's life insurance products on Shinhan Finance's distribution channels. “Besides an increasingly diversified life insurance product portfolio, Shinhan Life continues to focus on developing distribution channels, especially business cooperation with Shinhan Group companies," said Lee Eui Chul, General Director of Shinhan Life Vietnam. "In recent years, Vietnamese customers have become more aware of the importance of life insurance, and we will proactively seize these opportunities to provide suitable financial plans for … [Read more...] about Shinhan Life Vietnam, Shinhan Vietnam Finance Company sign partnership

With the launch of its revamped offering, Kredivo and VietCredit are pioneering by providing a very unique product in the Buy Now Pay Later space across the country. It is in line with its ambition to bring innovative payment solutions for the benefit of the Vietnamese people. In the last few years, Vietnam's e-commerce has experienced unprecedented growth and evolution, becoming one of the fastest-growing digital economies in Southeast Asia. It is expected to become one of the largest digital economies over the next few years. According to the Vietnam E-commerce Association, e-commerce grew by more than 20 per cent in 2021 and is valued at $16 billion. Market growth and potential rely on solid fundamentals, including a large and young population, high internet and mobile devices usage, and a high online purchase frequency. To sustain and increase the industry’s development rate over the coming years, the Vietnam e-commerce ecosystem has to solve some structural bottlenecks, … [Read more...] about Kredivo introduces its newest Buy Now Pay Later offer