Nguyen Van Khanh, deputy director of Bao Viet Securities JSC branch in HCM City, receives the award for best M&A advisory firm 2017-18. – Photo BVSC. The Ha Noi-based Bao Viet Securities Joint Stock Company (BVSC) was named the best mergers and acquisition (M&A) advisory firm for the two periods 2009-18 and 2017-18 on Thursday. The awards were given at the “Vietnam M&A Forum 2018: New thrust, new era” conference to recognise the firm’s efforts and contributions to the Vietnamese M&A market during the last 10 years. “The awards are acknowledgements of BVSC’s efforts as an advisory firm for dozens of M&A deals in the past 10 years, including those that have been considered the best deals at annual M&A forums,” said BVSC general director Nhu Dinh Hoa. Among those deals were the merger between Vincom and Vinpearl, between Bien Hoa Sugar JSC and Thanh Thanh Cong Tay Ninh Sugar JSC, and the US$5 billion sale of State shares … [Read more...] about Bao Viet Securities honoured at Vietnam MA 2018 Forum
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Exchange rate no problem for Viet Nam
The exchange rate between the Vietnamese dong and the US dollar has kept on rising significantly in recent weeks, which has surprised both investors and analysts in Viet Nam despite the economy’s stable development and historical-high foreign reserves. Viet Nam News reporter Nguyen Hoang Son discusses the issue with Pham Tien Dung, deputy head of analysis and investment consultancy at Bao Viet Securities Joint Stock Company. The exchange rate between the Vietnamese dong and the US dollar has continued to rise in recent weeks. Some say that the VND/USD exchange rate has reached its historical high. What do you think are the reasons for the ongoing increase in the VND/USD exchange rate? The VND/USD daily reference exchange rate set by the State Bank of Viet Nam has been rising since the beginning of 2018, from VND22,415 a dollar on December 31, 2017 to VND22,605 a dollar on May 29, 2018 – equal to a 0.8 per cent increase. This is also the highest level for the daily reference … [Read more...] about Exchange rate no problem for Viet Nam
Mixed blue chips see low Viet Nam shares
An investor watches stocks move at Saigon Securities Inc’s branch office in Ha Noi. — VNS Photo Doan Tung Vietnamese shares traded lower on Wednesday as blue chips were mixed and a sharp fall of trading liquidity showed investors’ caution with market conditions. The benchmark VN Index on the HCM Stock Exchange fell 0.39 per cent to close at 948.50 points. It stepped back from Tuesday’s 2.19 per cent increase. The HNX Index on the Ha Noi Stock Exchange was unable to stay positive, losing 1.05 per cent to end at 111.70 points. It gained as much as 0.48 per cent during the day. The northern market index soared 5.13 per cent in the previous session, marking the strongest daily growth since its establishment in 2005. More than 185.7 million shares were traded on the two local exchanges, worth VND5.1 trillion (US$227 million). Trading figures on Wednesday were down 20.6 per cent in volume and 15 per cent in value from Tuesday’s numbers. Trading conditions were … [Read more...] about Mixed blue chips see low Viet Nam shares
SBV allows Bao Viet Bank to open branches
Bao Viet Bank will open additional five branches and two transaction offices. — Photo cafef.vn State Bank of Viet Nam (SBV) last week approved Bao Viet Commercial Joint Stock Bank to open five branches and two transaction offices. The five branches are located in the northen province of Lao Cai’s Lao Cai City, central province of Thanh Hoa’s Bim Son Town, Central Highlands province of Gia Lai’s Pleiku City, southern province of Dong Nai’s Bien Hoa City, and HCM City’s Cu Chi District. The two transaction offices are to be opened in Nha Trang City of the central coastal province of Khanh Hoa and in Song Than Industrial Zone in southern Binh Duong Province’s Di An District. These branches and transaction offices must be operational within 12 months of the date of signing the document announcing the approval, failing which the approval will stand null and void. — VNS … [Read more...] about SBV allows Bao Viet Bank to open branches
Viet Nam spends $194 million on pesticides
Viet Nam spent US$194 million to import pesticides and raw materials in the first three months of this year. — Photo laodong.vn Viet Nam spent US$58 million to import pesticides and raw materials in March, lifting total imports of the commodities in the first three months of this year to $194 million. The imports mainly came from China, accounting for 54.2 per cent of the total value, Thoi bao Kinh te Viet Nam (Viet Nam Economic Times) reported. Imports of pesticides from the UK, Malaysia and India also increased sharply in the first months of the year, rising 80 per cent, 51.5 per cent and 26.3 per cent, respectively, from the same period last year. According to statistics from the Department of Plant Protection, Viet Nam currently has about 1,700 pesticide active ingredients with 4,080 goods. However, there are only about 2,000 products in the market, of which 20 per cent are bio and herbal remedies. The rest are still in the list but have little or no foothold in the market. … [Read more...] about Viet Nam spends $194 million on pesticides