The Hanoitimes - Vietnam’s government is determined to work for the upgrade of the local stock market to emerging market status soon. In the last annual review published by FTSE Russell, a leading global provider of financial services, in September 2018, Vietnam was added to the watch list for possible upgrade to Secondary Emerging Market in the future, for which the country is projected to reach this status in September 2020 in an ideal scenario, according to Vietnam Dragon Securities Company (VDSC). In general, a country needs to be on the watch list for at least one year before a possible upgrading announcement and then another year before the official reclassification. Recently, Kuwait, China A shares and Saudi Arabia were the newest Secondary Emerging markets. The brokerage looked at each case to see how close Vietnam is to the status. For the case of Kuwait, after being added to the watch list in September 2008, Kuwait had to wait for ten years before … [Read more...] about Vietnam projected to upgrade to secondary emerging market status in 2020: Brokerage
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VietNamNet Bridge - The Vietnamese stock market will have opportunities to attract billions of dollars worth of capital if it is upgraded to an emerging market. Vietnam has been added to FTSE's reconsideration watchlist on the secondary emerging market Vietnam has been added to FTSE Russell’s reconsideration watchlist on the secondary emerging market. Banking will get biggest benefits if Vietnam becomes an emerging market. Vietnam’s banks will have to observe the standards in Basel II Accord by 2020, which means that they have to raise regulatory capital to ensure the CAR (capital adequacy ratio). However, experts stressed that the presence in the watchlist doesn’t indicate official upgrading. Vietnam will still be in the watchlist for at least 12 more months before it gets an official upgrade. RELATED NEWS Vietnam closer to key FTSE upgrade Where is foreign capital going? Mai Chi … [Read more...] about Who will benefit if Vietnam is upgraded to secondary emerging market?
Terminal T1 of Phu Bai International Airport in the central province of Thua Thien-Hue will be upgraded to serve 5 million passengers per year, which is to prepare for the forecast surge of passengers that this port of entry will handle in the next several years. Phu Bai International Airport in the central province of Thua Thien-Hue (Photo: VNA) At a working session with provincial leaders in Hanoi on March 21, Minister of Transport Nguyen Van The agreed with the province on its proposal on upgrading the airport. The said his ministry approved the business plan for 2018 of the Airports Corporation of Vietnam. This plan includes a project on building Terminal T1 with an annual capacity of 5 million passengers, along with the apron and synchronous infrastructure of Phu Bai. Chairman of the Thua Thien-Hue People’s Committee Nguyen Van Cao said the province wants to soon upgrade and expand Phu Bai International Airport, particularly the international terminal, taxiway and … [Read more...] about Phu Bai airport to be upgraded to serve 5 mln passengers annually
Illustrative image (Source: VNA) Hanoi (VNA) – Vietnamese garment firms expect to navigate and increase garment exports to Australia once the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) takes effect, said director of the Yen Duong Ltd, Co. Thai Binh Duong. Under the CPTPP, Australia will reduce import tax to 5 percent in the first three years after the CPTPP enters into force, and waive itfrom the fourth year. Truong Van Cam, Vice President and General Secretary of the Vietnam Textile and Apparel Association, said Australia’s apparel imports have grown stably over the past five years, 3-4 percent annually on average. Moreover, apparel retail prices in Australia aremuch higher the import ones, giving Vietnamese products an advantage. However, Australia’s garment imports from China have accounted for more than 60 percent in recent years. Apart from China, India is also working to enter the market. More … [Read more...] about Vietnamese garment firms expect to navigate Australia
VietNamNet Bridge - If everything goes smoothly, the Vietnam stock market may be upgraded to an emerging market by 2020. Vietnam hopes its stock market would be upgraded to an emerging market by 2020 The Saigon Securities Incorporated (SSI) March financial and monetary report showed that the stock market scale has grown rapidly with value reaching $191 billion by the end of the first quarter of 2018, equal to 95 percent of 2016 GDP, an increase of 24.7 percent compared with the end of 2017. The scale is approximate to that of the UAE stock market ($245 billion), the Philippines ($270 billion), and higher than that of many emerging markets, including Qatar ($131 billion), Pakistan ($82 billion) and Egypt ($58 billion). The market liquidity has also increased to VND8.8 trillion per trading session, rising by 80 percent in comparison with the average level of 2017. The market liquidity has also increased to VND8.8 trillion per trading session, rising by 80 percent in … [Read more...] about Stock market expected to be upgraded to emerging by 2020