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?
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The transaction was completed last Wednesday, bringing the stake owned by IFC in the state-owned lender VietinBank down from roughly 8.02 percent to 6.49 percent, according to a disclosure filing with the Ho Chi Minh Stock Exchange (HoSE), Vietnam’s main bourse. The disclosure said that the IFC, a member of the World Bank Group, had sold over 18 million VietinBank shares (CTG), while the IFC Capitalization (Equity) Fund, a fund owned by the IFC, has sold over 39 million. The total value of these transactions came to around VND1.23 trillion ($52.98 million), equivalent to around VND21,500 ($0.93) per share, as recorded on HoSE. Although the IFC has not provided an explanation. The IFC had first invested in the bank in 2011. Currently, the State Bank of Vietnam is the biggest shareholder in VietinBank with a 64.46 percent stake. Japan’s MUFG Bank is next with 19.73 percent stake, followed by IFC, now with 6.49 percent. The rest are held by other shareholders. In the first 9 … [Read more...] about IFC offloads 1.5 pct stake in VietinBank
At a recruitment interview (Photo: VietnamPlus) Hanoi (VNA) - The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will bring benefits in exports and FDI attraction, hence more jobs. The workforce in 2019 is forecast to bode well for both unskilled and skilled labourers. [Vietnamese labourers struggle amid Industrial Revolution 4.0] According to experts, after the lunar New Year holiday, job-seekers will see favourable recruitment demand. Increasing recruitment demand Le Quang Trung, Director of the Department of Employment at the Ministry of Labour, Invalids and Social Affairs, projected Vietnam’s economy will continue its high growth in 2019. The labour market will shift to need less unskilled workers and demand more skilled ones for better quality. In 2019, about 56 million labourers will obtain employment. The number of unskilled workers still accounts for 26.5 percent of the workforce, while that of labourers working in personal services, … [Read more...] about 2019 workforce sees thousands of new jobs added
Convenience stores are expected to dominate the local retail market. — Photo plo.vn Many famous retail brands have entered Vietnam market like Circle K of the US opening its stores in Vietnam from August 2008 or Shop & Go of Singapore opening its stores from 2005. At present, in the two big cities of Hanoi and HCM City, Circle K has more than 300 stores while Shop & Go has more than 160 stores, reported bnews.vn. Convenience stores are well received by consumers, so not only foreign businesses expand their markets, but also many domestic enterprises are constantly developing their convenience store chains. In December 2018 alone, Vingroup’s retail arm, VinCommerce, opened 238 VinMart stores nationwide, bringing the total number of its convenience stores up to 1,700 in Vietnam. According to CBRE Vietnam, a real estate management and consultancy company, Vietnam’s retail market have seen a strong competition between foreign and local investors in … [Read more...] about Convenience stores have strong development in the future
Rice export revenue suffers from price drop Vietnam exported 5.56 million tonnes of rice and brought home 2.43 billion USD in the first 10 months of 2019, up 6.1 percent in volume but down 9.1 percent in value over the same period last year, according to the Ministry of Agriculture and Rural Development (MARD). The Philippines was the largest market of Vietnamese rice with 35 percent of the market share. The country spent 733.8 million USD to purchase 1.89 million tonnes of rice from Vietnam in the first nine months of this year, 2.9 times higher in volume and 2.6 times in value over the same period last year. According to the ministry, downward rice prices, which sometimes hit the bottom in 12 years, were the major reason behind the fall in rice export revenue in the period. On the average, rice price in the first nine months of this year was 435.6 USD per tonne, a drop of 13.4 percent year on year. According to Tran Cong Thang, head of the Institute of Policy and Strategy for … [Read more...] about VIETNAM BUSINESS NEWS HEADLINES NOVEMBER 21