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Billions of dollars worth of shares expected to enter bourse

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A number of commercial banks are going to list their shares at the HCM City Stock Exchange (HOSE), and are expected to bring a breath of fresh air to the market, which has been stagnant because of the pandemic.

LienViet Post Bank (LPB) has announced it has applied to HOSE to list shares, expecting to become the first bank to get approval for listing this year.

Billions of dollars worth of shares expected to enter bourse

The others are Asia Commercial Bank (ACB), VIB Bank and Saigon-Hanoi Bank (SHB).

A representative of LienViet Post Bank said the bank’s listing has been approved in principle by HOSE and the listing would be 1-2 months earlier than other banks.

Analysts believe that the number of enterprises and banks to list shares at HOSE will be increasing rapidly toward the end of year to comply with current regulations before the new Securities Law takes effect on January 1, 2021.

The new law stipulates that public companies must register their shares for transactions on the system reserved for unlisted shares at least two years before applying for listing shares once they meet specific requirements.

ACB has recently decided to move from the Hanoi Stock Exchange (HNX) to HOSE, while SHB of Do Quang Hien (Boss Hien) is considering moving to HOSE.

ACB managers said at the bank’s annual shareholders’ meeting that the listing at HOSE would bring some benefits. ACB shares are likely to be added to a ‘basket of shares’ such as VN30, VNDIAMOND and VNFINSELECT, which would help increase the market value of the shares and bring benefits to shareholders.

SHB, in the statement to shareholders, said the listing will help polish the image of SHB in the eyes of foreign strategic investors and improve SHB’s position in the stock market.

As for VIB Bank, HOSE in early September confirmed it has received the application for listing from VIB Bank.

Eighteen banks list their shares on the bourse, including Vietcombank, Vietinbank, BIDV, Techcombank, MBBank, HDBank, TPBank, VPBank, Eximbank and Sacombank at HOSE, while ACB, SHB and NVB are at HNX, and LienViet Post Bank, VIB, VBB, BAB and KLB are on UpCom.

Analysts say the listing at HOSE will help businesses more easily mobilize capital and attract investors, especially professional finance investors.

The listing at HOSE is partially attributed to the plan to merge stock exchanges approved by the Prime Minister. HOSE is a large trading floor with a long history of operation and higher requirements for enterprises.

With the moves taken recently by banks, analysts believe that Vietnam is about to witness a new wave of banks moving to HOSE.

Huynh Minh Tuan from Mirae Asset thinks this will be good for both the stock market and banks. HOSE will have more ‘good commodities’ (ACB alone has a capitalization value of $2.5 billion). 

M. Ha

Source: https://vietnamnet.vn/en/business/billions-of-dollars-worth-of-shares-expected-to-enter-bourse-679090.html

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INCHAM to hold seminar on India-Vietnam trade and investments

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INCHAM and the Saigon Times Group sign a memorandum of understanding on sharing information about business opportunities between India and Vietnam. INCHAM will organize a seminar on trade and investments between India and Vietnam in HCMC on November 2 – PHOTO: COURTESY OF INCHAM

HCMC – The Indian Business Chamber in Vietnam (INCHAM) will organize a seminar on trade and investments between India and Vietnam in HCMC on November 2.

The highlights of the “INCHAM Business Outlook Seminar Series India-Vietnam Trade & Investments” will include “a UN assessment of the economic impact of Covid-19 on Vietnam: emerging global and regional opportunities for it to build-forward-better”, “Vietnam-India trade and investment relationship: status and outlook” and “Preserving the past and fortifying the future: current situation, perspectives from India-Vietnam”.

The seminar will also focus on investment opportunities in Vietnam for Indians and opportunities and challenges in Vietnam’s renewable energy sector.

Speakers at the seminar will include Dr. Madan Mohan Sethi, Consul General of India in HCMC; Kamal Malhotra, UN resident coordinator in Vietnam; Tran Thi Hai Yen, director of the Investment Promotion Center-South Vietnam; Nguyen Thanh Binh, director of the Trade Information Center, Vietnam Chamber of Commerce and Industry-HCMC; Anup Kumar Dave, general director of Kirby South East Asia Co., Ltd.; Hareesha Narayana Shirankallu, director of engineering at Robert Bosch Engineering and Business Solutions Vietnam Co., Ltd. and Nguyen Xuan Huy, professor of geology and petroleum engineering.

The event will also feature Kartick Narayan, founder and CEO of Kilo; Abhay Sinha, deputy director general of the Services Export Promotion Council-India; Sanjay Kumar, executive director-cum-secretary of the Carpet Export Promotion Council-India; Murali Krishna Surampudi, joint director of the Pharmaceuticals Export Promotion Council of India and R. Selvam, executive director of the Council for Leather Exports-India.

The “INCHAM Business Outlook Seminar Series India-Vietnam Trade & Investments” will take place from 8 a.m. to 4 p.m. at the Sheraton Saigon Hotel & Towers in District 1.

Admission is free for INCHAM members, VND600,000 for members of other chambers and VND750,000 for non-members.

To register, contact the INCHAM via email [email protected] or hotline 0911 418 132 or register online through https://forms.gle/aMQYdfSQFvYNDX1EA by Wednesday, October 28.

The Indian Business Chamber in Vietnam is a non-profit organization, licensed and established in January 1999 with the objective of strengthening ties between Indian businesses and Vietnamese authorities to promote economic and business relations between Vietnam and India and also to be the focal point of the Indian community in Vietnam.

INCHAM was established in HCMC, which is the commercial hub of Vietnam. INCHAM established its Chapter in Hanoi in October 1999 to further widen and strengthen its presence in Vietnam.

Source: https://english.thesaigontimes.vn/79120/incham-to-hold-seminar-on-india-vietnam-trade-and-investments.html

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Businesses register to implement tourism safety criteria

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Two foreign tourists receive free face masks from a volunteer in front of the HCMC Central Post Office in this file photo – PHOTO: VNA

HCMC – HCMC has kicked off a tourism stimulus program, wherein enterprises operating in the tourism industry will have to register to fulfill three criteria, including safety for tourists, in line with the municipal tourism authority’s requirements.

The program, which will last until the end of 2021, will focus on safety, attractiveness and competitive prices, with safety being given the most importance by the authorities.

“Hundreds of businesses have completed the registration. We will make a list of safe businesses and tourist destinations that will be added to the digital safe tourism map,” noted Nguyen Thi Anh Hoa, director of the HCMC Tourism Department, at the HCMC Tourism Stimulus Conference that took place on October 23.

Nguyen Thi Khanh, vice chairwoman of the HCMC Tourism Association, pointed out that having a good set of tourism safety criteria is important to make the tourism stimulus program more effective.

She observed that the tourism market has also seen a positive response as guests who had previously canceled their tours due to the Covid-19 outbreak have registered to travel once again.

With regard to the stimulus program, from now until the end of 2021, HCMC will introduce 200 tourism products, 20% of which will be new. For example, there will be half-day city tours around HCMC comprising traveling along the Saigon River or rowing a boat on the Nhieu Loc-Thi Nghe canal.

As part of the program, 30 hotels will offer discounts from 20 to 60% and more than 10 will offer discounts of 15 to 20%.

Source: https://english.thesaigontimes.vn/79119/businesses-register-to-implement-tourism-safety-criteria.html

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Trade remedies imposed on Vietnamese goods surge

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Workers process seafood for export in the Mekong Delta city of Can Tho. Seafood is one of Vietnam’s products subject to the largest number of trade remedies – PHOTO: TRUNG CHANH

HCMC – Vietnam was among four countries worldwide subject to the largest number of trade remedies from January to September 2020, according to the Ministry of Industry and Trade.

The number of trade remedies imposed on Vietnamese goods in nine months doubled that of last year, with the most affected products being steel, aluminum, seafood, wood and construction materials, which are also the country’s key export products.

The Ministry of Industry and Trade is keeping a close watch on the export of key products, especially those that are being investigated or subject to trade remedies. The ministry has published a list of 13 at-risk products on its website and the list will be updated regularly.

As of late September, the ministry has reported 193 trade remedies on Vietnamese goods, including 108 anti-dumping cases, 22 anti-subsidy cases, 23 tax evasion cases and 40 safeguard cases. Sixty-two percent of the cases were from the United States, the EU, India, Canada and Australia.

Speaking to Thanh Nien newspaper, director of the Trade Remedies Authority of Vietnam Trieu Dung noted that trade remedies have affected Vietnamese goods worth some US$12 billion since the first case was reported in 2003. Vietnam has appealed successfully in 65 of the cases.

Dung stated that the number of trade remedies imposed on Vietnamese goods would definitely increase in the time to come. The Trade Remedies Authority has worked with 12 trade associations to help Vietnamese businesses avoid or resolve problems related to trade remedies.

According to an international trade expert, the increase in the number of trade remedies is understandable in the context of the rising protectionism worldwide and it is also proportional to Vietnam’s import and export revenue.

“When a country opens a safeguard investigation into a Vietnamese product, it means Vietnam’s increasing exports of the product are putting pressure on the country’s domestic production,” he explained.

Trade remedies are a tool to protect domestic production and, as such, Vietnam is imposing trade remedies on the fertilizers, steel and other products of several countries.

Source: https://english.thesaigontimes.vn/79115/trade-remedies-imposed-on-vietnamese-goods-surge-.html

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