Investors watch stock prices on an electric board. — Photo vietnamfinance.vn The Ho Chi Minh City Stock Exchange has announced the top 10 largest securities companies this year. VPS Securities Joint Stock Company remained in top spot with a 17.59 per cent market share in the first half of the year though its second quarter share dipped marginally. SSI Securities Corporation continued to be in second position, but increased its market share from 9.66 per cent in Q1 to 10.02 per cent in Q2 to end the half with 9.81 per cent. VNDirect Securities Corporation remained in third place with 7.99 per cent during the year. In the top 10 Ho Chi Minh Securities climbed past Techcom Securities JSC to fourth position in Q2, with their half-year market shares being 5.58 per cent and 5.47 per cent, respectively. Mirae Asset, Viet Capital Securities JSC, MB Securities, KIS Vietnam Securities, and FPT Securities rounded off the top 10. In the year-to-date, especially since April, the … [Read more...] about HOSE announces list of top 10 securities companies
Billion dollar company
Steel wire rod products stored in a warehouse of Hoa Phat Group. — Photo hoaphat.com.vn Stock dividend is a common form on the stock exchanges and after each payment, a large amount of shares are pumped into the market. In July, it is estimated that the market may receive more than 1.6 billion shares. Notably, 1.34 billion shares of Hoa Phat Group (HoSE: HPG) will be issued to shareholders on July 20. The issuance is to pay 2021’s dividends at the rate of 30 per cent. Once it is completed, the total circulation of HPG Shares will increase to 5.8 billion units, the largest on the stock exchange. Previously, on June 20, the steel producer closed the final registration for a list of shareholders receiving cash dividends at the rate of 5 per cent and stock dividends at the rate of 30 per cent. For cash dividends, more than VND2.2 trillion (US$95.6 million) will be transferred to investors' accounts on July 6. Another steel producer - Ton Nam Kim (HoSE: NKG) is also preparing … [Read more...] about Over 1.6 billion shares could enter market in July
Part of the Vietnam - Singapore Industrial Park in Hai Phong city (Photo: VNA) Hai Phong (VNA) – For the last half of 2022, Hai Phong city will apply itself to flexibly and effectively fighting COVID-19 and shoring up business and investment activities so as to attract more foreign direct investment ( FDI ), a local official has said. Nearly 1.1 billion USD of FDI was poured into the northern port city in the first six months, falling by over 11% from a year earlier and equivalent to almost 44% of this year’s target. FDI inflows are expected to stand at 0.85 billion USD in the third quarter and 0.85 - 1.1 billion USD in the fourth quarter. Le Trung Kien, head of the Hai Phong Economic Zone Authority , said the city looks to surpass this year’s FDI attraction target of 2.5 billion USD. To that end, the authority will boost investment promotion and attraction for the three pillars of economic development, namely high-tech industry, seaports - logistics, and … [Read more...] about Hai Phong striving to attract over 2.5 billion USD in FDI this year
Specifically, by the morning of July 6, Dream Republic Joint Stock Company and Sheen Mega Joint Stock Company have not yet paid a total land-use fee of VND7.82 trillion to the tax agency. According to regulations, after the above deadline, the Ho Chi Minh City Auction Service Center will prepare documents to report the above results to the Department of Natural Resources and Environment and submit them to the People's Committee of HCMC on the cancellation of the auction results. According to regulations, if it is more than 180 days from the time the tax agency signed the notice, i.e., July 6, the auction winner still has not paid the land-use fee, the auction result will be canceled. At the same time, these two enterprises will not receive a total of VND319.2 billion of deposit (20 percent of the starting price). Previously on May 6, Thu Duc City Tax Department decided to coerce by deducting money from the bank accounts of these two enterprises. This decision is valid for 30 days. … [Read more...] about Two Thu Thiem land auction winners still fail to pay land-use fees
China-based electronics company Xiaomi has made investments into manufacturing smartphone components in Vietnam as part of its plan to compete against market leader Samsung of the Republic of Korea (RoK), according to Japan’s news service Nikkei Asia. The Japanese newswire reported that Xiaomi plans to meet growing local demand for smartphones and will continue to support exports to Southeast Asia, including Malaysia and Thailand. Pandaily, a tech media based in Beijing, also stated that Xiaomi is in the process of working with Chinese electronics manufacturing company DBG Technology, which runs a 200,000 square metre factory in Vietnam. The same factory will also produce data transmission equipment and circuit substrates. Until recently Xiaomi had only been focused on producing smartphones in China and India. However, COVID-19 restrictions not only disrupted supply chains, but also reduced sales, prompting the firm to spread out its production locations. … [Read more...] about Xiaomi launches production of smartphones in Vietnam
Patrick Lenain - Former assistant director Organisation for Economic Co-operation and Development Schools and universities will need to adopt new technologies. Public transportation networks will need to be upgraded. Large-scale logistical hubs will be required to remain integrated in global supply chains. Old-age citizens will need welfare support. Electricity generation will need to decarbonise. Coastal cities will need to adapt to rising sea levels. Military spending will need to protect the country. And it is obvious that health spending remains a priority. Unfortunately, tax revenue is at present too limited to finance these large investments. Vietnam’s government collected tax revenue equivalent to 16 per cent of GDP last year, according to the International Monetary Fund. This is less than Malaysia (18.3 per cent), Singapore (18.5 per cent), India (19.7 per cent), Thailand (20.3 per cent), and China (27 per cent). This is also less than before the pandemic, reflecting … [Read more...] about Tax for development: Does Vietnam need tax reform?