Mid- and long-term prospects are still good, says the State Securities Commission As the VN-Index tumbles again and reaches the new low at 906 points, market regulators have issued advisory messages for investors. According to Tran Van Dung, the Vietnamese market still has tremendous potential in the mid- and long-term, and investors should not overreact to global volatilities. On July 3, the VN-Index lost 41 points to land at the 906 mark, continuing its losing streak. Can you explain the reasons for this ongoing fall? Since the end of last year, we have been worried about two risks that can have a double impact on the Vietnamese market: possible rate hikes by the US Federal Reserve and global trade tensions, especially between the US and China. Both of these risks materialised in June: On the 13th, the Fed announced a rate hike and more increases are set to follow within the year. At the same time, trade tensions between the US and China and Europe also had a negative impact on … [Read more...] about Investors should remain calm, says market regulator
Fundamental investors fund
Foreign funds see profits vanish in market slump
Viet Nam News HÀ NỘI — Volatility on Việt Nam’s stock market in the past two months has dragged down the performance of foreign investment funds here. Việt Nam’s benchmark VN-Index on the HCM Stock Exchange has declined about 18 per cent in the last two months, eating away most of its gains of over 19 per cent in the first quarter of 2018. Since its highest record of 1,204 points on April 9 this year, the VN-Index lost 20 per cent by May 25, closing this week at 963.9 points. In line with the market downtrend, Pyn Elite Fund, the Finland fund which focused on Vietnamese shares, lost all of its gains since the beginning of this year. The net asset value (NAV) of Pyn Elite Fund as of May 15 decreased 0.2 per cent against last month, reaching 315.82 euros. Its assets under management were 436 million euros (US$510 million). In April, it also witnessed a monthly decrease of 1.5 per cent. Investments causing the biggest losses for the fund … [Read more...] about Foreign funds see profits vanish in market slump
Gov’t funds won’t rescue loss-making projects
The Government will not use public funds to rescue 12 loss-making projects under the jurisdiction of the Ministry of Industry and Trade (MoIT), Deputy Prime Minister Vuong Dinh Hue said. He told the ministry on Monday that no additional capital would be provided for these projects and that any further measures to deal with them must be based on market principles. Those which could not be handled would be strictly punished. “Thanks to the efforts from the Viet Nam National Oil and Gas Group (PetroVietnam) and projects of the Viet Nam National Chemical Group (Vinachem), like DAP Dinh Vu, they’ve started to report profit. Viet-Trung Steel Company reported profit in 2017 after prolonged losses in years,” he said. In addition, the deputy PM asked members of the steering committee to clarify difficulties and shortcomings in resolving disputes of engineering-procurement-construction (EPC) agreements with contractors as well as financial issues in order to continue … [Read more...] about Gov’t funds won’t rescue loss-making projects
CISCO helps Vietnamese firms in digital transformation
Investor group to strengthen Sacombank Digital transformation is making waves worldwide. Taking advantage of the digital age to grow, to be able to protect companies and gain an edge over competitors is what businesses strive for. However, not all businesses choose the right solution. K K Lee, director of System Engineering of CISCO, shares ideas to help business discover the latest trends and technologies, as well as solutions for digital transformation. ■ Most business leaders believe cloud computing is extremely important for their digital transformation strategy. What do you think about this? Yes, it is the natural way forward in terms of technology. Cloud for businesses is not just about the technology itself. It is about the reality, the speed to market. By adopting cloud, the ability to respond to market conditions becomes faster, to be able to develop innovation and optimise operation. It also helps deal with the issue of developing infrastructure, and especially a … [Read more...] about CISCO helps Vietnamese firms in digital transformation
Social News In Brief 28/3
Oil spill response training held in Quang Ninh Some 200 people from oil exploiting and transporting companies and organisations in the northern province of Quang Ninh were provided with necessary knowledge and skills to respond to oil spills during a training course held in the locality on March 28. The course was jointly organised by the provincial Department of Natural Resources and Environment and the Vietnam Maritime Construction Investment Consultancy Joint Stock Company. Participants were equipped with measures to control oil spills, laws and regulations related to the issue as well as technical measures to clean up oil-contaminated areas and ways to manage environmental pollution after the oil spill. They also practised collecting oil from the spill in conditions of strong flows and big waves. There has been no serious oil spill case in Quang Ninh province since the beginning of 2017. Enhancing skills to prevent and tackle oil spills is necessary for the province as it is a … [Read more...] about Social News In Brief 28/3