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Analysts cautious over market movements this week

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Workers of construction firm FECON Corporation (FCN). FCN was up 2 per cent last week. Photo fecon.com.vn

HÀ NỘI — Securities companies have forecast that the stock market may continue to struggle this week and investors should adopt risk management measures.

On the Hồ Chí Minh Stock Exchange (HoSE), the market benchmark VN-Index edged up 0.02 per cent, to 1,498.50 points.

The index had gained a total 2 per cent last week.

An average of 831 million shares were traded on the southern exchange during each session last week, worth VNĐ26 trillion (US$1.14 billion).

On the Hà Nội Stock Exchange (HNX), the HNX-Index lost 0.23 per cent to end Friday at 461.75 points.

In its report, Việt Dragon Securities Company (VDSC) said that the market might continue to struggle in a narrow range around the threshold of 1,500 points.

“The supply pressure seems to have cooled down, shown by the steady decrease in liquidity and the narrowing of the candlestick’s body. The bottom fishing effort is gradually showing results,” said VDSC.

“With the signal of the correction slowing down, the market is facing an opportunity to increase in the near future. Therefore, investors need to observe signs of demand and expect a short-term uptrend of the market. Currently, it is still possible to consider participating in some stocks that are attracting cash flow on an active accumulation basis,” the company said.

Mirae Asset Securities Việt Nam said the VN-Index is testing the level of 1,500 points, which is an important resistance of the mid-term sideways trend.

“If successfully conquering this threshold, VN-Index will form an uptrend in the medium term,” the company said.

SSI Securities Joint Stock Company said the VN-Index had continuously retreated when approaching the resistance area of ​​1,500 – 1,520 points, so the slight correction from the above resistance area was still likely to continue.

“However, the fact that the trading volume remained low during the correction sessions showed that the VN-Index will soon recover again in the next few sessions,” it said.

According to Saigon-Hanoi Securities Joint Stock Company (SHS), the market had a second consecutive week of recovery in the context that the tensions between Russia and Ukraine are unlikely to end with an agreement on the negotiating table.

According to SHS, the order-matching liquidity improved in the past week, showing that the money was still pouring into the market, but caution appeared when the market surpassed the threshold of 1,500 points.

“The world market last week did not witness new developments as investors were still observing the conflict in Ukraine as well as concerns about rising inflation,” SHS said.

Foreign investors also returned to be net buyers with a value of nearly VNĐ2.5 trillion in the week.

“In the current context, SHS believes that it is difficult for the market to breakthrough in the short term, but will probably enter a tug-of-war phase and accumulation. Therefore, in the next trading week from March 28 to April 1, VN-Index may struggle in a range of 1,480-1,520 points to accumulate the price base and wait for the opportunity to break out again,” it said.

Almost all groups of stocks increased in the past week. Industry stocks gained the most, thanks to materials and construction codes such as Construction firm FECON Corporation (FCN) up 2 per cent, Đạt Phương Joint Stock Company  (DPG) up 2.8 per cent, Hà Tiên 1 Cement Joint Stock Company  (HT1) up 4.2 per cent, Bình Minh Plastics Joint Stock Company (BMP) up 4.4 per cent, Hoà Bình Construction (HBC) up 4.7 per cent, Coteccons (CTD) up 5.5 per cent, Vicem Bút Sơn Cement JSC (BTS) up 5.7 per cent, and Ho Chi Minh City Infrastructure Investment JSC (CII) up 6.5 per cent.

Next was the group of consumer goods with gainers being Masan Group (MSN), increasing by 7.1 per cent, and Sabeco (SAB) rising by 4 per cent.

They were followed by financial groups, pharmaceuticals and healthcare, consumer services, community utilities and information technology

On the other side, banking group slightly adjusted with losers including Vietcombank (VCB) down 2 per cent, Vietinbank (CTG) down 1.8 per cent, Bank for Investment and Development (BID) down 1 per cent, Military bank (MBB) down 0.9 per cent and Asia Commercial Bank (ACB) down 0.3 per cent.

Source: https://vietnamnews.vn/economy/1168596/analysts-cautious-over-market-movements-this-week.html

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C.T. Group honored as one of the best companies to work for in Asia

Real estate developer C.T. Group received the annual HR Asia Award for being one of the best companies to work in Asia at a ceremony held in HCM City on August 11.

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The prestigious award of “Best Companies to Work for in Asia” was presented by the continent’s leading magazine – HR Asia.

This is the second time CT Group has received this prestigious award and the first time that this Corp has surpassed nearly 600 “competitors” in Vietnam to achieve the highest score at 4.68/5 points (94%).

This score is 25% higher than the average score of businesses competing across Asia in 2022 and far from the average score of Vietnam, according to the property developer.

Achieving the position that many businesses across the continent aim for is not easy since the list of “Asia’s Best Places to Work” is selected through an extremely rigorous evaluation process.

The evaluation was made according to the TEAM (Total Engagement Assessment Model) model which is based on a set of criteria including Core, Self, Group applied to major human resource markets in Asia.

Accordingly, CORE (Collective Organization for Real Engagement) assesses culture, discipline, management capacity, leadership, and agile initiatives; SELF (Heart, Mind, Soul) assesses the level of cohesion, pride, and emotion at work; and GROUP (Think, Feel, Do) measure the level of cooperation of members with businesses.

“CT Group is extremely proud to become one of the Enterprises with a fantastic working environment in Asia 2022,” said Ms. Nguyen Thi Tien Phuong Deputy Director – Community Human Resources Department of CT Group during the honoring ceremony.

“Our group is the center of human development with a way of wisdom, dignity, skills and lifestyles. In addition, to economic development for common prosperity for all members and their families. “360-degree policy” – is a policy that cares for the development of physical and spiritual life in all aspects.”

On the 30th anniversary of the Corporation’s establishment, CT group has awarded an attractive ESOP stock bonus, even a chauffeur received ESOP stock shares which were equal to VND10 billion, life insurance – Lifetime insurance with preferential rates to billions of Vietnam dong.

The market is always impressed with the team that rewards cars for employees annually, everyone is happy in an open and especially loving environment.

At work, employees also have the opportunity for physical training, improve health and feel a positive life. In addition, CT Group regularly organizes entertainment activities, social participation, tourism, and vacation every year. Moreover, the journey of CT Group Caravan is one of the important pieces to building the corporate culture of the Group.

CT Group is the door to access science and technology from the world and enter the future 4.0 of humanity. Photo: CT Group
CT Group is the door to access science and technology from the world and enter the future 4.0 of humanity. Photo: CT Group

The activity was inspired by the program of West Point Military Academy (USA), which trained many leaders globally. If you like the community service activities, the CT group is an opportunity for all of you to join hands to contact the community right away, the honest poor, the weak in society, because the core value of CT group is a corporation for the community right from the early days of its establishment.

For young people who love hi-tech, CT group is the door to access science and technology from the world and enter the future 4.0 of humanity. The catchphrase from veteran employees:” CT group is a place where an ordinary employee can become great people”.

After 3 decades of establishment and development, with the second 30-year plan, CT group aims to add resources up to 25,000 by 2025, CT Group is attracting many outstanding talents not only in domestic but also all over the world, from foreigners to expatriates with knowledge, overseas talents, those from many different fields such as High Technology (Cell Tech, Fintech, AI, Protech, Flytech, Clean Energy ) finance, construction, sales – marketing, … to contribute to diversifying the staff network, serving the strategy of technological transformation with a scale spread throughout the Group including 50 companies members and work offices in many countries around the world.

For the second time being honored as “Asia’s Best Place to Work”, CT Group not only once again affirms its position but also prepares strongly for the upcoming global integration, becoming more and more “classic, quality, difference” in creating an ideal and desirable working environment for the community.

Source: https://e.nhipcaudautu.vn/companies/ct-group-honored-as-one-of-the-best-companies-to-work-for-in-asia-3347269/

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Vietnam ready for talks with US on tax evasion investigation into Vietnamese steel pipes

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Vietnam is willing to hold trade talks with the United States to timely solve arising problems regarding a U.S. anti-circumvention investigation into steel pipe products imported from the Southeast Asian country. 

Le Thi Thu Hang, spokesperson of the Vietnamese Ministry of Foreign Affairs, made the statement at a regular press briefing in Hanoi on Thursday following reports that the U.S. officially initiated an investigation into the case.

Hang affirmed that the Vietnam-U.S. comprehensive partnership has witnessed progress in all fields in recent times, including in economy, trade, and investment. 

Vietnam is the leading trade partner of the U.S. in Southeast Asia, while the U.S. is the second-largest trade partner of Vietnam, with two-way trade turnover exceeding US$110 billion in 2021.

“Vietnam advocates promoting economic, trade, and investment cooperation with the U.S. on the basis of freedom, fairness, and mutual benefits in accordance with bilateral agreements and regulations of the International Trade Organization (WTO),” she said.

“Vietnam is willing to exchange with the U.S. through existing mechanisms such as the Trade and Investment Framework Agreement (TIFA) to promptly solve arising problems and strengthen economic, trade, and investment relations for the interests of businesses and people of the two countries.”

In their lawsuit filed in May, major U.S. steel pipe manufacturers, namely Nucor Corporation, Bull Moose Tube, and Maruichi Steel Corporation, accused Vietnam of importing hot rolled steel (HRS), the main raw material used to produce steel pipes, from several countries, including China, for processing steel pipes to be exported to the U.S..

By doing so, the said Vietnamese exporters try to evade the respective trade remedy tax that the U.S. is levying on several countries, including China, according to the lawsuit.

The U.S. Department of Commerce recently decided to officially initiate a probe into the case.

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Source: https://tuoitrenews.vn/news/business/20220812/vietnam-ready-for-talks-with-us-on-tax-evasion-investigation-into-vietnamese-steel-pipes/68565.html

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Masan Group honored in Top 50 Corporate Sustainability Awards 2022

During the Sustainable Development “Good for business, Good for planet” Conference held by Nhip Cau Dau Tu magazine on Wednesday, Masan Group was honored in the Top 50 Corporate Sustainability Awards 2022.

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This award aims to promote the sustainable development trend spreading among the business community and Vietnamese society and honor businesses that typically implement sustainable development strategies and adopt commitments for green growth and community responsibilities.

Top 50 Corporate Sustainability Enterprises 2022 were evaluated and voted based on five main assessment criteria: Stable growth, Sustainable corporate culture, Corporate governance, Environment protection, and Social responsibility. The judicial panel is reputable international and local experts.

Honoring green businesses, serving the community

Recently, awareness development towards systemic issues including climate change, diseases, natural resource depletion, and gender inequality has promoted investment trends following ESG criteria or sustainable investment in the region. Recognizing this importance, the Government signed Decision No. 167/QD-TTg approving the “Program to support private business sector in sustainable development period 2022 – 2025”.

The program aims to raise awareness of the private sector business community’s role and the importance of sustainable business.

Along with business, sustainable development is a key pillar of Masan’s strategy. Masan’s sustainability initiatives are focused on bringing value to social life and contributing to local communities.

WinMartWinMart+ conducts several promotions to form green consumption habits. Photo: Masan
WinMartWinMart+ conducts several promotions to form green consumption habits. Photo: Masan

Masan Group has continuously been researching and leading utility trends to improve Vietnamese material and spiritual lives and contribute to the country’s overall development.

The Vietnamese private conglomerate was recently honored in the Top 50 listed companies in 2022 held by Forbes Vietnam Magazine, for ten consecutive years. And Top 10 at Vietnam Top 50 Public Companies (VIX50) conducted by Vietnam Report.

This is the best result of Masan’s ceaseless efforts in the journey of serving our consumers and developing businesses in parallel with sustainable development. At the same time, it is the motivation for Masan constantly creates more and more quality products and services, contributing to the general development of the community, society, and the country.

Masan’s sustainable development journey

Since the early days of Masan’s establishment, community development and social responsibility have been among its sustainable development goals. Masan Group, Vietnam’s leading consumer-focused business group, believes in “Doing well by doing good” when serving the daily essential needs of consumers. Community initiatives are an essential part of its mission to improve the lives of nearly 100 million Vietnamese consumers.

The largest modern retailer with nearly 3,000 WinMart/WinMart+ supermarket and mini-marts – WinCommerce always upheld the spirit of Vietnamese people using domestic goods and keeping the retail sector for Vietnamese people.

As a result, Vietnamese goods make up 90% of products sold in the system. MEATDeli produces meat products with European standards and provides world-class animal protein for Vietnamese consumers.

Along with that, Masan Consumer also preserves and brings Vietnamese culinary culture to the world through familiar brands of fish sauce, soy sauce, instant noodles, chili sauce, etc. At the same time, it encourages Vietnamese manufacturers to upgrade to international standards and enhances the competitiveness of domestic goods.

Masan sponsors eye surgery for people in Binh Thuan province. Photo: Masan
Masan sponsors eye surgery for people in Binh Thuan province. Photo: Masan

Masan High-Tech Materials (MHT), the world’s leading manufacturer of high-tech tungsten metal powders and tungsten carbide (mid-stream tungsten products), always focuses on environmental protection and sustainable development. With the potential of the state-of-the-art mining and processing technology, constant innovation, research, and development of products, over the years.

Masan High-Tech Materials demonstrates sustainable and responsible mining practices complying with leading international standards, ensuring minimization of resource losses and optimization of the value of natural resources, with a mineral recovery rate of over 96%. Besides, MHT also brings outstanding contributions to Vietnam’s economy, society, and sustainable livelihoods for thousands of local workers.

In 2021, Masan Group contributed nearly VND 5,450 billion to the State budget. Since 2021, the Group has contributed more than VND 500 billion to activities to support local residents and frontline workers in the fight against the Covid-19 epidemic and to implement various community health and social security projects.

Recently, the Group sponsored eye surgery for 1,000 people in 2 provinces of Binh Thuan and Kien Giang and donated to the Ho Chi Minh City “For the national sea and islands – For the fatherland frontline” Fund 2022. 

Source: https://e.nhipcaudautu.vn/companies/masan-group-honored-in-top-50-corporate-sustainability-awards-2022-3347253/

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