Nguyen Duy Hung, chairman of SSI Securities, a leading Saigon broker, said that with a drop of over 20 percent from its peak, when the VN-Index climbed to 1,204 points on April 9, 2018, Vietnam’s stock exchanges have entered a bear market. The benchmark VN-Index on the Ho Chi Minh Stock Exchange lost 1.52 per cent to end Thursday at 878.22 points. On Friday afternoon, it rose to 880.9 points. Perhaps it will take between 8 to 11 months for the market to recover, Hung said. "Historical data suggests that it would take 21 months for a bear market to recover its old peak after hitting bottom." But the SSI chairman said the main challenges facing the stock market in 2019 include worries posed by the escalation of the U.S.-China trade war, and increasing geopolitical risks. "At this point, no one can say how this war will unfold or predict how widespread the impact will be. Along with the decline in oil prices signaling difficulties of the world economy, the rise in geopolitical … [Read more...] about Experts express cautious optimism for Vietnam stock market
Vu Thi Chan Phuong, SSC’s Vice Chairwoman, addresses a seminar in Hanoi on November 7 to discuss the Draft Law on Securities (revised). (Photo: VNA) Hanoi (VNS/VNA) - The new amended draft law on securities was revised based on the inheritance of the current Securities Law, broadening the scope of regulation and adopting a new approach more suited to market condition and overcoming the remaining limitations of the current law. This is an opinion raised at a seminar in Hanoi on November 7 to discuss the Draft Law on Securities (revised), which is supposed to be submitted to the Government in the second quarter of 2019 and submitted to the National Assembly for consideration and approval in the fourth quarter of 2019. The 2006 Securities Law was introduced in the context of the small-scaled securities market. The law has created the legal corridor to enable the stock market to grow over the past 11 years, said Deputy Minister of Finance Huynh Quang Hai. “The law has … [Read more...] about New securities law is a better fit for market
Didi Chuxing’s joining the Vietnamese market raises questions about how the shared investor Tencent would affect the market, with many raising the example of Softbank’s remarkable impact on Uber and Grab. Tencent's interest in Didi Chuxing and Go-Jek may belie ambitions to harmonise the market China-based ride-hailing player Didi Chuxing is waiting for the Vietnamese government’s approval to start operations in the country, according to newswire Dantri. Nguyen Xuan Thuy, deputy director of the Transport Department under the Ministry of Transport (MoT), told Dantri that Didi Chuxing submitted the dossiers to MoT, however, the ministry has yet to consider this proposal because it is not a suitable time for Didi Chuxing to enter Vietnam. At the same time, motorcycle ride-hailing transportation provider Go-Jek from Indonesia has gathered a team of experts to advise its expansion in Vietnam to break the dominance of Grab. In reality, both Didi Chuxing and Go-Jek … [Read more...] about Tencent interest to rearrange ride hailing market?
VietNamNet Bridge - Fifty instant noodle manufacturers exist in Vietnam, but the market is controlled by three big players, namely Acecook, Asia and Masan. Consumers buy instant noodle more than one time each month A survey by Kantar Worldpanel showed that instant noodles are one of the most regularly bought fast-moving consumer goods, about 18 times a year on average. In urban areas, foreign brands are holding market share of 60 percent. Acecook alone holds 50 percent of market share. The market has grown by 8 percent in value and 3 percent in quantity in urban areas, higher growth rates than 2016. However, the rural market saw decreases in both value and quantity. RELATED NEWS Vietnam consumes 4.9 billion instant noodle packets a year Vietnam's instant noodle surges Thanh Lich … [Read more...] about Vietnam instant noodle market controlled by three big brands
Ride-hailing business in Vietnam see movement due to the leave of Uber Uber drivers leave over crushed dreams On March 26, all Uber drivers received a notification that after Uber officially stops its operations in Southeast Asia, they will become partners of Grab. Accordingly, drivers who want to work for Grab will have to register to have their accounts automatically transferred to Grab. The change will take place on April 8. However, Uber drivers are not exactly excited about joining Grab because the firm's commissions are far higher than Uber’s. Notably, Uber drivers would need to pay 28.6 per cent of their revenue cent to Grab, including 25 per cent commission and 3.6 per cent personal income tax. The ratio is much higher than the 20-25 per cent Uber charged. Manh, an Uber taxi driver from Hanoi, stated that since mid-2017, when Uber changed its business strategy in Vietnam and hiked commission to 23 per cent, numerous drivers had to return to work for traditional taxi … [Read more...] about Controversial moves on ride hailing market