This expansion was due mainly to a 4% on-quarter growth in government bonds to US$51 billion as the central bank increased issuance of bills. Vietnam’s bond market registered growth of 3.4% on-quarter and 1.9% on-year to US$55.1 billion as of the end-September, according to the latest edition of the Asian Development Bank’s (ADB) Asia Bond Monitor. This expansion was due mainly to a 4% on-quarter growth in government bonds to US$51 billion as the State Bank of Vietnam (SBV), the country’s central bank, increased issuance of central bank bills. The overall expansion of the country’s local currency bond market was slightly tempered by a 2.8% contraction on-quarter in the corporate bond market to US$5 billion. Nevertheless, the corporate bond market still posted growth of 4.2% year-on-year. Yield movement Vietnam’s local currency government bond yield curve shifted downward between August 31 and October 15. Bond yields for … [Read more...] about Vietnam’s bond market grows 1.9% in Jan-Sep, reaching US$55 billion
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Vice Chairman of the Ha Nam provincial People’s Committee Truong Quoc Huy speaks at the event (Photo: VNA) Ha Nam (VNA) – Businesses of Japan’s Chiba prefecture joined a working session with the People’s Committee of the northern province of Ha Nam on November 20 to explore the province’s investment climate. At the event, Vice Chairman of the provincial People’s Committee Truong Quoc Huy informed his guests that Japan is now the second largest foreign investor of Ha Nam, with nearly 100 projects in various fields, contributing to the local socio-economic development. As Ha Nam regards Japanese firms as its main investment partner, the province has zoned off the Dong Van 3 supporting industrial park to attract more businesses from the country, he added. Notably, the province has set up an office to support Japanese investors in administrative procedures. In addition, the province boasts a huge workforce with cheap labour cost. It has … [Read more...] about Japanese firms explore Ha Nam’s investment climate
Vice Chairman of the National Assembly Phung Quoc Hien (R) received Jerry Cook, Vice President, Government and Trade Relations at Hanesbrands Inc. on June 12 (Photo: VNA) Hanoi (VNA) – Vietnam is willing to create favourable conditions for foreign companies, including those from the US, to invest and expand business and production in the country, said Vice Chairman of the National Assembly Phung Quoc Hien. Hien made the pledge while receiving a delegation from the US-based clothing company Hanesbrands Inc., led by Jerry Cook, Vice President, Government and Trade Relations, in Hanoi on June 12. Speaking highly of the thriving Vietnam-US comprehensive cooperation and especially bilateral economic ties, the NA Vice Chairman affirmed that Vietnam always regards the US one of the country’s leading trade and economic partners. Two-way trade surged to more than 60 billion USD in 2018 from just 450 million USD in 1994, he said, adding that the US has been … [Read more...] about Vietnam creates optimal conditions for foreign investors: NA leader
Since issuing corporate bonds has become easy thanks to open regulations, it is necessary to tighten control over bond issuance. According to Saigon Securities Incorporated (SSI), VND129.016 trillion worth of corporate bonds were offered to sell in the first eight months of the year and 90.08 percent was sold. VND22.664 trillion, or 61 percent of bonds, were sold to domestic investors. However, it’s unclear who the ‘domestic investors’ are. Meanwhile, bonds cannot sell to individual investors who don’t have deep knowledge about the market. The analysts blamed the hot corporate bond market on the easy requirements stipulated in Decree 163. Hai Linh Anonymous foreign investor buys entire batch of Phu My Hung bonds Phu My Hung Development Corporation has mobilised VND800 billion ($34.78 million) for real estate projects from a "secret" foreign investor through bond sales. Vietnam’s bond market continues growth Vietnam’s … [Read more...] about Is the corporate bond market too hot?
Vice President Dang Thi Ngoc Thinh (R) hosts a reception for Andy Kinsella, Chief Executive Officer of Ireland-based Mainstream Renewable Power (Photo: VNA) Hanoi (VNA) – Vice President Dang Thi Ngoc Thinh hosted a reception for Andy Kinsella, Chief Executive Officer of Ireland-based Mainstream Renewable Power, in Hanoi on November 20. The official spoke highly of the Irish company’s investment in Vietnam in the renewable energy industry, which the country has huge demand for and many Irish businesses boast strength in. She highlighted that electricity is among vital demands in Vietnam’s sustainable development orientations, highly valuing the feasibility of Mainstream Renewable Power’s current wind energy project. The Vice President voiced her hope that the company’s project will promptly go into operation. Vietnam’s Phu Cuong Group and the Irish company recently signed a cooperation deal worth 2 billion USD to build and operate a wind farm … [Read more...] about Ireland’s renewable energy developer pledges support for Vietnam