Stock market 800 points

A worker at a steel mill of Hoa Phat Group (HPG). HPG lost 1.7 per cent on Friday. VNA/VNS Photo The market declined slightly on Friday, dragged down by the banking and steel industries pressured by strong selling force. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index edged down 0.35 per cent to close at 1,269.18 points. The index closed Thursday at 1,273.66 points, down 0.13 per cent compared to the previous session. Market breadth was negative with 338 decliners and 124 gainers. Liquidity increased compared to Thursday with 607.6 million shares traded on the southern exchange, worth VND14.9 trillion (US$636.6 million). The VN30-Index echoed the VN-Index pattern. It lost 0.38 per cent to reach 1,294.93 points. In the basket, six stocks climbed, two stayed flat and 22 slid. Banking was leading the market's fall with most of the stocks in the basket declining, including Vietinbank (CTG), Asia Commercial Bank (ACB), Vibank (VIB) and Tien Phong Bank (TPB), all … [Read more...] about Shares decline slightly on the slump of banking, steel stocks

At the 2022 Emart Partners Day in Ho Chi Minh City last week, which was attended by more than 500 suppliers, THACO chairman Tran Ba Duong said the chain aims to have 20 stores across the country and revenues of $1 billion by 2026 to become the hypermarket chain with the largest market share in Vietnam. Local retail market share battle heats up, illustration photo THACO is one of the largest private groups in Vietnam in the automobile industry with nearly 25 years of experience. In addition to the core business, it also expanded into the retail sector after completing the acquisition of South Korea’s Emart Inc’s business in Vietnam in September last year. “The Emart Go Vap hypermarket soon became a top supermarket in Vietnam in terms of revenues and number of customers, reaching $69.5 million in revenue in 2021. Thus, it is not too ambitious to set the goal of $1 billion for 20 supermarkets,” explained Duong. Before being part of the THACO ecosystem, Emart has … [Read more...] about Local retail market share battle heats up

Thac Ba hydroelectric power plant in Yen Binh District, Yen Bai Province. — Photo genco3.com Thac Ba Hydropower JSC (HoSE: TBC) has closed the list to pay a cash dividend for the second period in 2021. The company said that August 30 is the deadline for the list of shareholders receiving the second dividend of 2021 in cash at the rate of 15 per cent, meaning that a shareholder owning one share will get VND1,500. With the number of outstanding shares of 63.5 million units, Thac Ba is expected to pay more than VND95 billion to shareholders, the expected payment date is September 23. Previously, the company paid the first dividend in cash at the rate of 10 per cent. With this payment, it completes the cash dividend to shareholders in 2021, with a total rate of 25 per cent. Therefore, the company has maintained the highest dividend payment since listing on the stock exchange. The company also paid a 25 per cent cash dividend for 2020 and 2017. Thac Ba Hydropower is the … [Read more...] about Thac Ba Hydropower continues to pay highest dividend

Customers buy moon cakes at a store in HCMC. (Photo Courtesy of KIDO Group) The market this year is forecast to be a special year as last year's festival was affected by the Covid-19 pandemic so sellers could not set up booths to sell moon cakes as usual. Food producer KIDO Group this year plans to sell over 300 tons of moon cakes under KIDO’s Bakery brand. The company said that KIDO’s Bakery moon cakes will hit the market from the beginning of this month. The cakes will be sold in both online and offline channels. Online, the cakes will be available on Lazada, Tiki, and Shoppe, and offline at nearly 600,000 KIDO stores and the Chuk Chuk tea and coffee beverage chain in Ho Chi Minh City and Hanoi. To date, the company has received orders from many companies and organizations who buy the cakes as presents for their staff and partners. Mondelez Kinh Do Vietnam announced that to ensure its moon cakes reach consumers easily, safely, and conveniently, this year, the company … [Read more...] about Moon cake brands prepare for upcoming mid-autumn festival

2019 International Travel Expo – Ho Chi Minh City (Photo courtesy of the organising board) HCM City (VNA) – The 16th International Travel Expo – Ho Chi Minh City (ITE HCMC 2022) will feature a variety of events at the Saigon Exhibition and Convention Centre (SECC) in District 7 from September 8 – 10, after a two-year delay due to the COVID-19 pandemic. ITE HCMC, the largest and most established travel event in the Mekong Delta region, will be held under the theme of “Growing Forward Together” as part of the efforts to revive inbound tourism. The hybrid event will feature more than 200 exhibitors, including airlines, hotels and resorts, tour operators, foreign travel promotion agencies, and enterprises from 45 Vietnamese cities and provinces. It also expects to attract 150 international buyers who are leaders of travel companies and MICE organisers from major markets, such as Southeast Asia, Europe, Japan, the Republic of Korea, the US, Australia, and New Zealand. … [Read more...] about International Travel Expo – HCM City returns with various events

There have not yet been many mega deals involving Japanese investors on a par with pre-pandemic levels. What factors are currently affecting Japanese M&A trends in Vietnam? Masataka “Sam” Yoshida, head of the Cross-border Division of RECOF Corporation and CEO of RECOF Vietnam Co., Ltd. First of all, deals as large as VPBank’s sale of its stake in FE Credit to Japan’s Sumitomo Mitsui Financial Group do not occur frequently. In fact, the M&A story in Southeast Asia is largely written by mid-cap companies rather than the large ones, as the region is home to a significant number of companies with enterprise values between $50 million and $500 million. The same is true in Vietnam, where middle market M&A has been a major driver of deal activity. Many smaller Vietnamese enterprises have proven resilient and successful in the face of recent global crises, and they have become desirable acquisition targets. As borders reopened, we got off to a solid start this … [Read more...] about Assessing Japanese M&A deals in a turbulent period

The move is aimed at ensuring the country's long-term self-sufficiency in oil and oil products. Vietnam National Oil and Gas Group (PVN) is planning to build an oil refinery complex worth up to US$19 billion in the southern province of Ba Ria – Vung Tau. The Nghi Son Oil Refinery plant in Thanh Hoa Province, North Central Coast of Vietnam. File photo In a proposal submitted to the Government, the PVN expected the investment would be conducted in phases, of which around 70% of the capital would be allocated for the first phase. According to the PVN, Vietnam's domestic market is set to face a shortage of 19.5 million tons of petroleum products every year by 2030, and the figure could rise to 49 million tons by 2045. At present, the domestic consumption of petrol products is estimated at 18 million tons per year. PVN forecasts the demand to continue rising to 25 million tons by 2025, and 33 million tons by 2030. However, the combined production capacity of … [Read more...] about PVN plans to build US$19-billion oil refinery-storage complex

Processing dragon fruits for export (Photo: VNA) Binh Thuan (VNA) – Exporting fresh fruit in the context of China implementing Decrees 248 , 249 and strengthening cold-chain food imports control were the topics of discussion at a workshop in the south central province of Binh Thuan on August 19. The event was co-organised by the Vietnam Sanitary and Phytosanitary Notification Authority and Enquiry Point (Vietnam SPS) and the provincial Department of Agriculture and Rural Development. According to the Vietnam SPS, China is currently the main market for Vietnam's fruit and vegetable export. However, it is setting higher requirements for agricultural imports, especially regarding traceability, food safety and hygiene, and COVID-19 prevention and control. China’s Decree 248 on regulations on the registration and administration of overseas producers of imported food requires that all overseas food manufacturers, processors, and storage facilities be registered with the … [Read more...] about Workshop helps fresh fruit exporters learn about China’s new regulations

The provincial Department of Agriculture and Rural Development in collaboration with the Ha Noi Department of Agriculture and Rural Development held a conference on ensuring food safety. — VNS Photo Many key products of the northern mountainous province of Hoa Binh have entered the system of supermarkets and large commercial centres in Ha Noi, Deputy Director of the provincial Department of Agriculture and Rural Development Vuong Dac Hung told a recent conference. The provincial Department of Agriculture and Rural Development in collaboration with the Ha Noi Department of Agriculture and Rural Development held a conference on ensuring food safety between the city and province in the northern mountainous province. The conference highlighted the results of the implementation of the programme which coordinates trade, promotes agricultural product consumption and State management in the agricultural sector between the capital city and Hoa Binh Province in the 2016-20 period and the … [Read more...] about Ha Noi and Hoa Binh connect trade and consumption of agricultural products

While 2020 was one of the warmest years on record globally, Vietnam has just gone through another historical year of climate extremes. Last November was also decisive for the future of the planet as countries officially submitted their climate pledges at the COP26 climate summit. Dao Xuan Lai, head of Climate Change and the Environment at the United Nations Development Programme (UNDP) in Vietnam We see a skyrocketing demand for natural resources while witnessing the collapse of functioning ecosystems. You only need to drive a couple of hours outside of Hanoi towards Ninh Binh province with its iconic limestone clasts, synonymous with the beauty of northern Vietnam, to see these emblematic features being devoured by machinery to be used for stone mining and cement production. By 2050, global demand for materials such as plastics, steel, or cement is projected to increase by a factor of 2-4. More than 50 per cent of the world’s emissions can be traced back to our … [Read more...] about Partnerships key to green transition