A customer at Vietcombank's transaction office in Hau Giang Province. The bank shares surged in the afternoon trade, lifting the market benchmark VN-Index. — VNA/VNS Photo Hong Thai Benchmark indices traded differently on Thursday, as selling pressure countered risky asset demand. The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) picked up slightly 4.39 points, or 0.35 per cent, to 1,254.15 points. It fell in the morning trade due to rising sell-off force. The market’s breadth was positive, while liquidity was still low. Accordingly, investors poured over VND17 trillion (US$726.8 million) into the southern bourse, equivalent to a trading volume of nearly 724.75 million shares. The index escaped the downtrend thanks to the breakthrough of Vietcombank (VCB) and increases in some pillar stocks, and set a fourth straight daily gain. The VN30-Index, which tracks the 30 biggest stocks by market capitalisation on HoSE, rose 7.9 points, or 0.62 per cent, to 1,277.73 points. … [Read more...] about Market struggles due to mixed forces
Borg 15 point rpe scale
Vietnam’s THACO and philosophy of no surrender
Truong Hai Auto Corporation (THACO), a typical successful firm in Vietnam's automobile sector, has been investing heavily in mechanics and the manufacturing of accessories. THACO leaders shared the firm’s journey to resolve the issue: increasing the localization rate or surrendering to auto imports flooding the local market. They also shared the one-stop model to help other Vietnamese enterprises cooperate to develop, thereby improving the internal power of Vietnam’s industry. THACO chairman Tran Ba Duong said at a meeting with mechanical enterprises that “you have technology and machinery. We will build factories and lease them at low prices.” “If we fail to demonstrate our commitment, you can take your machinery away. “We will not go back on our words. Only actual acts and thoughts will create values." Refreshing itself by enhancing investment Returning to Chu Lai Industrial Park in central Quang Nam Province nearly three years after Tuoi Tre (Youth) newspaper held … [Read more...] about Vietnam’s THACO and philosophy of no surrender
M&A route lends appeal for delay-ridden ventures
LDG Group is a developer with many unfinished projects that cannot be deployed in Ho Chi Minh City because of legal issues and cash flow. To solve the situation, chairman Nguyen Khanh Hung in June said he wants to mobilise capital from outside, and a merger and acquisition (M&A) is one potential method. Vietnam boasting buoyant real estate M&A activities “We are looking to finish legal documentation for two projects of the High Intela and the West Intela with a total of around 800 units which can be taken into M&A for other potential partners. This would be a good solution for LDG because these projects are small in scale, and LDG should leave them to drive focus towards improving its governance and construction capacity,” Hung said. According to Do Duy Thanh, manager of Savills Hanoi Investment Advisory Department, M&As are considered a safe and beneficial solution for both parties because the domestic enterprise can solve the capital shortage, while … [Read more...] about M&A route lends appeal for delay-ridden ventures
Enterprises, workers in non-State sector and FDI rise rapidly
Workers manufacture mechanical gear at Japanese-invested RK Engineering Co in Dinh Vu Industrial Zone in the northern port city of Hai Phong. — VNA/VNS Photo Danh Lam The number of enterprises and employees working in the non-State sector and FDI increased rapidly, whereas that of the State sector fell markedly. This is one of the contents of a survey conducted by the General Statistics Office, which has just been announced in the Publication of the 2021 Economic Census. Accordingly, by type of enterprise, the non-State enterprise sector concentrated the most enterprises and employees as of December 31, 2020, with 660,100 enterprises, accounting for 96.4 per cent of the total number of enterprises nationwide. The sector attracted 8.6 million employees, accounting for 58.6 per cent of the total number of employees. The FDI enterprise sector has the fastest growth rate in the number of enterprises among the three industries. It accounts for an increasingly large share of the … [Read more...] about Enterprises, workers in non-State sector and FDI rise rapidly
Enterprises, workers in non-State, FDI sectors rise rapidly
Workers manufacture mechanical gear at Japanese-invested RK Engineering Co in Dinh Vu Industrial Zone in the northern port city of Hai Phong (Photo: VNA) Hanoi (VNS/VNA) - The number of enterprises and employees working in the non-State and FDI sectors increased rapidly, whereas that of the State sector fell markedly. This is one of the contents of a survey conducted by the General Statistics Office, which has just been announced in the Publication of the 2021 Economic Census. Accordingly, by type of enterprise, the non-State enterprise sector concentrated the most enterprises and employees as of December 31, 2020, with 660,100 enterprises, accounting for 96.4% of the total number of enterprises nationwide. The sector attracted 8.6 million employees, accounting for 58.6% of the total number of employees. The FDI enterprise sector has the fastest growth rate in the number of enterprises among the three industries. It accounts for an increasingly large share of the … [Read more...] about Enterprises, workers in non-State, FDI sectors rise rapidly
Demand for cotton forces adjustments
Thanh Cong Textile Garment Investment Trading JSC exported over one-third of its products to the United States in 2021. However, the company started to face challenges following the US’ blanket ban on all Xinjiang cotton. Last year, President Joe Biden signed into law the Uyghur Forced Labor Prevention Act. Vietnam’s cotton imports reach up to one million tonnes each year, Photo: Shutterstock Tran Nhu Tung, chairman of the company, said that the company has adopted regulations this year related to this act. Accordingly, buyers have to be responsible for export orders to the US which source Chinese cotton materials. Thanh Cong secures many large orders from the US. In 2022, the company sets a target to generate $179 million in revenues and $10.87 million in profit, up 120 per cent and 188 per cent respectively against last year. Tung noted that yarn exports are the main driving force for Thanh Cong. “There is a rapidly growing demand for yarn imports in the global … [Read more...] about Demand for cotton forces adjustments