Executive session who can attend

Many solutions to prevent network congestion on HoSE

March 4, 2021 by sggpnews.org.vn

Meanwhile, on the Hanoi Stock Exchange (HNX), the HNX-Index made a breakthrough of nearly 3 percent. At the end of the trading session, the VN-Index inched up by 0.34 points, or 0.03 percent, to close at 1,186.95 points, with 270 gainers, 168 losers, and 64 unchanged stocks. The HNX-Index jumped 6.16 points, or 2.48 percent, to 254.1 points, with 137 gainers, 66 losers, and 57 unchanged stocks.

Foreign investors continued to net sell nearly VND500 billion on the whole market. Of which, they net sold VND470 billion on the HoSE. Liquidity remained at a high level with a total trading volume of 819 million shares, worth more than VND18.1 trillion. Of which, put-through transactions accounted for nearly VND1.77 trillion.

The stock market traded with caution from investors after the new General Director of the HoSE Le Hai Tra spoke in the media about a solution to prevent network congestion, which possibly is to raise the minimum round lot from 100 shares to 1,000 shares to reduce the load for the trading system.

According to the HoSE’s calculations, increasing the round lot to 1,000 shares can reduce the total number of trading orders by 40-50 percent, at the same time, it can pave the way for new heights of market liquidity.

Mr. Tra said that that might only be a temporary solution to solve the current network congestion situation. In the future, when the new stock trading system comes into operation, there will be an odd-lot board, and it is also possible to return to the current round lot of 100 units. However, this opinion faced considerable opposition from investors because it will make it difficult for investors, especially small investors. Because they will have to spend 10 times as much as currently to buy stocks on the HoSE.

Another solution to prevent network congestion for the HoSE is to transfer some stocks from the HoSE to the HNX, the State Securities Commission (SSC) has just sent documents to the HoSE, the HNX, and the Vietnam Securities Depository (VSD) on this.

Accordingly, the SSC requested the HNX to promptly accept and receive listed companies from the HoSE, without reviewing their records following the new listing process. The transaction mechanisms, transaction supervision, listing management, reporting, and information disclosure will be applied the same as companies listed on the HNX. The HoSE and the HNX will cooperate in supervising transactions for these stocks to ensure continuity of supervision.

Noticeably, the SSC stated clearly that shares of transferred companies, which are currently in the set of the VN-Index indicators of the HoSE will be removed from the set of HoSE indicators during the temporary transfer to the HNX. At present, SSC will temporarily not consider transferring the shares of companies currently in the VN30-Index.

The SSC also requested the HNX, the HoSE, and the VSD to urgently handle the issue so that enterprises can transfer the transactions of their shares similarly to the listing transfer cases that have been carried out so far. This mechanism will be applied from March 3 this year.

By Nhung Nguyen – Translated by Thuy Doan

Diageo Vietnam helps Vietnamese get free vaccination

March 5, 2021 by ven.vn

Diageo Vietnam is one of the first businesses in the country joining hands with Tuoi Tre (Youth Newspaper) to help up to ten thousand of frontline workers who work at medical centers, hospitals and centrally quarantine centers in Vietnam, to get vaccinated for free this year.

Having launched at the end of February, following the success of the 1-year long campaign “Preventing Covid-19 with Tuoi Tre”, the campaign aims to raise funds from individuals, organizations, and businesses for such a meaningful and highly practical activity. Through this tangible contribution, Diageo Vietnam demonstrates its commitment to joining hands with Vietnamese people to combat Covid-19, while facilitating safety for local communities in the new normal.

Throughout 2020, Vietnam has marked its name in the global map as a success story of keeping Covid-19 transmission under control and mitigating the pandemic’s adverse effect on all socioeconomic aspects. Strict quarantine and contact tracing measures alongside medical prevention and treatment efforts, empowered by the strong consensus between the Government and people across the country, have proven their values and helped Vietnam make the miracle.

The success of disease prevention and control activities in Vietnam lies in the ability to mobilize extensive resources and connect individuals and organizations under the same cause, which is to prevent Covid outbreak and protect the community. Those noble qualities have inspired companies like Diageo Vietnam to take bold moves and contribute their part.

Mr. Jos Duursema, Chief Operating Officer of Diageo Vietnam said: “ As a British business operating in Vietnam, we are proud to accompany and support the local communities in every possible way to protect their well-being and promote sustainable development for the country. Diageo Vietnam hopes to secure more opportunities to access effective prevention and treatment of Covid-19, hence empowers Vietnamese people with the freedom to live a healthy and successful life.”

The sense of values and purposes guides Diageo’s business operations and social activities on a global scale. Last June in Vietnam, Diageo Vietnam partnered with the Central Committee of the Vietnam Fatherland Front to present the Ministry of Health with 18,600 hand sanitizer bottles worth VND670 million, alongside its campaign “Clean Serve by Diageo” which provided sanitizing kits and guidelines for more than 315 bars and clubs across the country. Under the campaign’s framework, Diageo hosted a much-anticipated livestreaming session, where the brand’s ambassador shared advice and tips to more than 2,000 participants on how to maintain hygiene and secure experience as they serve customers.

COVID-19 vaccination to begin in Vietnam on March 8

March 5, 2021 by en.nhandan.org.vn

Earlier, more than 117,600 doses of the vaccine, manufactured in the Republic of Korea (RoK), arrived in Vietnam on February 24. After holding working sessions with the producer, Vietnam has obtained an accreditation certificate for the batch from the RoK.

Long said the doses, verified by the ministry, meet the conditions for vaccination in Vietnam.

As scheduled, on March 6, the Health Minister will chair a conference to launch the vaccination plan and provide related training for medical staff nationwide in the use and storage of the vaccine, as well as the handling of post-injection complications.

According to the official, priority in vaccination will be given to people at the front line of the fight against COVID-19, including health, army, police, customs and immigration personnel; those working in sectors offering essential services like aviation, transport, tourism and education; people with chronic illnesses or above 65 years old; those living in pandemic-hit areas; the poor and beneficiaries of social welfare policy.

People getting the shots will be monitored via digital health records and receive e-certificates for their completion of inoculation.

Vietnam plans to import about 150 million doses of COVID-19 vaccines this year.

Prudential, Maritime Bank extend bancassurance partnership for 15 years

March 5, 2021 by en.vietnamplus.vn

Prudential Vietnam and Vietnam Maritime Commercial Joint Stock Bank have renewed their strategic bancassurance partnership (Photo courtesy of Prudential Vietnam)

HCM City (VNS/VNA) – Prudential Vietnam Assurance Private Limited , a subsidiary of Prudential Plc , and Vietnam Maritime Commercial Joint Stock Bank have renewed their strategic bancassurance partnership for another 15 years.

The new agreement significantly expands the geographical scope to include the north, where MSB is headquartered, and make Prudential the lender’s only partner.

They have been collaborating since 2013 and built a highly successful bancassurance partnership which delivered a 34 percent compounded annual growth rate in annual premium equivalent between 2014 and 2020.

Under the renewed partnership, the two sides will also expand into new segments, including digital, to deliver holistic protection solutions to customers.

With a digital-focused approach that is aligned with MSB and Prudential’s plans to leverage existing digital tools such as the latter’s artificial intelligence-powered application Pulse, they hope to seize further growth opportunities.

Nic Nicandrou, Chief Executive of Prudential Corporation Asia, said: “Vietnam is an important market and source of growth for Prudential. The renewal and expansion of our long-term partnership with MSB represents a tremendous opportunity for Prudential to build on its strong presence in the market. It is a clear demonstration of our commitment to serving MSB’s customers, helping them get the most out of life with our leading suite of health and wealth solutions.”

Phuong Tien Minh, Chief Executive Officer of Prudential Vietnam, said: “Prudential Vietnam has built a highly-effective bancassurance partnership with MSB since 2013.

“We are delighted to be taking the partnership to the next level as we deliver our innovative offerings to MSB’s customers through existing as well as new channels, including digital. We look forward to continuing our strong relationship with MSB for another 15 years.”

Nguyen Hoang Linh, Chief Executive Officer of MSB, said: “We have enjoyed a very successful partnership with Prudential Vietnam and this reinforced our decision to extend the partnership and expand its scope to cover all of Vietnam.

“Together with Prudential Vietnam, we will remain focused on providing best-in-class financial and investment solutions to consumers across the country, helping them fulfil their evolving needs and providing them with a secure future.”/.

VNA

Bright prospects ahead for wood and handicraft exports to US

March 5, 2021 by vov.vn

Addressing the event, Nguyen Hoai Bao, member of the HAWA executive board, emphasised that despite export activities facing numerous difficulties caused by the impact of the novel coronavirus (COVID-19) epidemic, the Vietnamese wood industry raked in over US$13 billion last year.

Most notably, exports to the US market enjoyed a surge of 34% to over US$7 billion compared to 2019, meaning the US has become the leading export market of the domestic wood and handicraft sector.

Despite these positives, Bao explained that the US is one of the markets that has set the strictest standards in terms of origin traceability and legality of wood products, thereby forcing local businesses to regularly update the legal system and related regulations as a means of avoiding trade risks and to fully tap into the fastidious market.

Julie Hundersmarck, a specialist at the US Forest Service International Programs, emphasised that despite facing fierce competition from a variety of regions, US importers have a preference to do business with suppliers from Asia, including Vietnam. Indeed, moving forward the US Forest Service has initiated plans to assist the country in controlling the origin and legality of wood products which are exported to the US in order to ensure sustainable development.

Last year saw the sales of furniture products in the US reach US$115 billion, with this figure forecast to hit US$143 billion over the next five years.

Experts have also pointed out that the level of consumer spending on furniture products is projected to increase moving forward, despite the outbreak of COVID-19, noting that local manufacturing firms must be sensitive when selecting investments. As such, they should regularly be introducing fresh products and developing additional trade channels in order to attract customers in an effective manner.

Conference for Young Scientists inspires innovation for cohesive ASEAN

November 26, 2020 by vov.vn

Opening with the theme of “Inspiring creativeness and innovation for a cohesive and responsive ASEAN”, the event witnessed the participation of young experts and scientists from both at home and abroad.

Participants used the occasion to discuss a range of measures aimed at dealing with difficulties faced by the region and methods in which to build the ASEAN community in a sustainable manner.

During the course of the event, there was a plenary session featuring aspects of creativeness and innovation through the initiatives and activities of young ASEAN scientists.

In addition, seminars were held to discuss the new normal in ASEAN, ways to inspire creativeness and innovation to overcome the novel coronavirus (COVID-19) pandemic, the building of smart cities, and developing infrastructure, medicine and health within the ASEAN Community by 2030.