Divesting from Vinaconex was one of SCIC’s most successful deals last year (Photo: VNA) Hanoi (VNS/VNA) - The State Capital Investment Corporation (SCIC) reported after-tax profit of 8.25 trillion VND (356 million USD) in 2018, 52 percent higher than the annual target. Its revenue was 12.58 trillion VND (541.3 million USD), equivalent to 159 percent of its target. SCIC estimated it had paid 6.99 trillion VND (300.7 million USD) in corporate income tax in 2018, 54 percent higher than the target, and paid 2.18 trillion VND (93.8 million USD) directly to the Enterprise Arrangement and Development Support Fund. SCIC played an important role in the restructuring of State-owned enterprises. Founded in 2005, SCIC divested State capital out of 986 companies to collect nearly 37 trillion VND (1.6 billion USD), compared to the book value of 8.3 trillion (357 million USD). In 2018 alone, SCIC earned nearly 7.78 trillion VND (334.7 million USD) from selling stakes at nine companies. … [Read more...] about SCIC reports profits 52 percent higher than target
Vietnam dollar to usd
Investors at a stock trading floor in Hanoi. (Photo: vnreview.vn) Hanoi (VNS/VNA) - There are many securities products that are widely used in other countries but have not yet appeared on the Vietnamese stock market, said Phan Duc Hieu, deputy director of the Central Institute for Economic Management (CIEM). “This makes the Vietnamese stock market less attractive, affecting capital mobilisation of listed companies,” Hieu said at a seminar held in Hanoi on May 8, themed “Enhancing Vietnam's capital market accessibility”, co-organised by CIEM and the State Securities Commission (SSC). Participants at the seminar discussed solutions to offer new securities products to diversify the stock market and attract investors, helping businesses mobilise capital for production and development. According to SSC vice chairman Pham Hong Son, the securities sector has made great efforts to develop policies to attract foreign investment, raising the foreign ownership ratio in … [Read more...] about Stock market needs product impetus
Illustrative image (Source: https://www.phnompenhpost.com/) Phnom Penh (VNA) – Cambodia’s export of travel goods surged in the January-September period of this year to 385 million USD, mostly thanks to tax privileges they received from the US under its Generalised System of Preferences (GSP). According to the Phnom Penh Post, an amendment to the GSP that went into effect in July 2016 removed US customs tariffs on Cambodian-made travel products such as luggage, backpacks, handbags and wallets. The items, which previously faced tariffs of between 4.5 and 20 percent, now enter the US duty-free under the expanded programme. Under the programme, approximately 5,000 products from 122 beneficiary developing countries and territories – including 43 least-developed countries – are eligible for duty-free export to the US. The US’ and the EU’s preferential trade schemes have been very beneficial to the Kingdom’s footwear and travel goods exports, … [Read more...] about Cambodia enjoys surge in export of footwear, travel goods
Prime Minister Nguyen Xuan Phuc beats the gong to open the New Year's trading session in Hanoi on February 12 (Photo: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc highlighted a bright outlook for Vietnam’s economy while opening a stock trading session after the Lunar New Year holiday in Hanoi on February 12. Citing international organisations’ forecasts, PM Phuc said the World Bank has predicted that Vietnam will record an economic growth rate of over 6.6 percent in 2019. Meanwhile, Standard Chartered and ANZ believe the economy will enjoy the fastest growth in ASEAN and be a highlight in the world’s economic panorama. Some organisations also perceived that there is room for Vietnam’s economy to grow at a pace of 7 percent this year. Echoing the view, the National Financial Supervisory Commission said the economy is likely to expand by 7 percent. The Government leader said those forecasts show the confidence in Vietnam’s economic … [Read more...] about Prime Minister opens New Year’s trading session
The VN-Index recorded nine hikes in he two weeks since the end of the Lunar New Year holidays (Photo: VietnamPlus) Hanoi (VNA) - This week, Vietnam’s stock markets closed in the green, as the benchmark VN-Index rose 1.34 points to 988.91 points while the HNX-Index inched up 0.7 point to 106.82 points. The VN-Index on the Ho Chi Minh City Stock Exchange (HoSE) enjoyed increases in the whole week (from February 18 to 22) and it was also the ninth hike in two weeks. On February 22, there were 144 rising codes and 152 in decline. The VN30, which measures the performance of the 30 stocks with the highest market capitalisation and liquidity on the HoSE, had 17 advancing codes and 12 others end in red, while one code was flat. In the week, foreign investors posted net purchase value of 772.92 trillion VND (33.02 billion USD), equivalent to 23.64 million shares. E1VFVN30 topped the list with 15.4 million shares purchased, followed by HPG with 8 million shares. The … [Read more...] about Will VN-Index hit 1,000-point mark thanks to investors’ positivity?