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SABECO shows love for sports spirit of SEA Games 31



The Ministry of Culture, Sports & Tourism (MoCST) and Saigon Beer – Alcohol – Beverage Corporation (SABECO) signed a cooperation agreement for 2022. Photo courtesy of SABECO

HÀ NỘI — The Ministry of Culture, Sports & Tourism (MoCST) and Saigon Beer – Alcohol – Beverage Corporation (SABECO) signed a cooperation agreement for 2022 on Friday to realise objectives in the areas of Culture and the Arts, Tourism and Cuisine, and Sports.

At the event, SABECO and MoCST also celebrated the launch of “VIỆT NAM WIN GOLD” – “VIỆT NAM THẮNG VÀNG” – a community initiative rallying everyone in Việt Nam to support the national sports teams and athletes during the SEA Games 31, raising the love for sports and the positive spirit of the whole nation.

Following the excellent relations established in 2021, MoCST and SABECO have set up cooperation activities for the year 2022 to elevate national sports and establish Việt Nam’s tourism brand as an attractive cultural and culinary tourism destination for tourism both domestic and international visitors.

Major activities of the cooperation programme for 2022 focus on three key areas, including Culture – Arts, which focuses on activities that promote the essential cultural and artistic values of Việt Nam to the Vietnamese people and international friends honouring Vietnamese cultural identities.

The programme will also focus on Tourism and Cuisine to have activities developing a national tourism brand, promoting and introducing distinctive, representative culinary traditions across different regions of Việt Nam and the finest international cuisines.

In addition, activities that support the successful organisation of SEA Games 31, in which Bia Saigon brand is the Diamond Sponsor and the sole sponsor of the Doping control programme at SEA Games 31, as well as contributing support funds to develop young sports athletes through nationwide community initiative “Việt Nam Win Gold”.

“VIỆT NAM THẮNG VÀNG” chanting initiative is part of the series of activities that Bia Saigon is accompanying MoCST towards the 31st SEA GAMES in Việt Nam.

With the spirit of encouraging willpower and belief in the victory of the National Sports Team, the initiative will collect and echo sports chantings from supporters online and offline wherever they are.

To collect millions of chantings in support of Việt Nam’s sports, by completing the month-long movement, Bia Saigon will contribute VNĐ5 billion to support the training and development of young athletes to reach international achievements and bring about the best of Việt Nam sports.

Bennett Neo, General Director of SABECO, said: There is nothing quite like sports when bringing people together. Success at international sports competitions rallies and binds the nation together and evokes national pride. As 2022 marks the second time Việt Nam is hosting SEA Games, Bia Saigon sees our role in honouring the winning spirit of national sports teams and supporting the development of outstanding young athletes.

“Via ‘VIỆT NAM THẮNG VÀNG’ in particular and the long-term partnership with the MoCST in general, we strive to push on the tripartite partnership of the Government, private sector and socio-politico organisations to embrace the identity of Việt Nam in culture, tourism and sports sectors. This is an essential part of our sustainable development commitment in Việt Nam.” —



Upgrading the market for the sake of all participants




An employee passes electronic boards showing share prices inside Hồ Chí Minh Stock Exchange in HCM City. — VNA/ Photo Hữu Khoa

HÀ NỘI — An upgrade to emerging status will not only help the stock market develop quickly, transparently and sustainably, but also attract huge foreign capital inflows, said experts. 

Recently, the Government has directed to purge the market and improve the trading system’s capacity, showing its determination to enhance the quality of the stock market.

The refinement is to protect investors and open a door for the Vietnamese stock market to be upgraded from a frontier to an emerging market.

Prime Minister Phạm Minh Chính has taken an interest in the development of the capital market and the stock market, including the matter of upgrading the market. 

During a trip to attend the ASEAN-US Special Summit, on May 16, the PM visited the New York Stock Exchange (NYSE) – the largest stock exchange in the world – hoping it supports and shares experience to develop an effective and sustainable stock market in Việt Nam, and successfully build a regional financial centre. 

PM Chính also expected the NYSE and its Vietnamese partners to foster a sustainable, mutually beneficial partnership, contributing to making the Việt Nam-US comprehensive partnership more substantive and effective.

On the occasion, PM Chính witnessed the awarding ceremony of two cooperation documents in the fields of finance, banking and investment funds between Vietnamese and US partners, including a cooperation document between the Vietnamese State Securities Commission (SSC) and the NYSE regarding support to upgrade the country’s stock market and build a mechanism for investors to participate in both stock markets.

Previously, the PM chaired a conference on developing a safe, transparent, efficient and sustainable capital market to stabilise the macro-economy and ensure major balances of the economy.

At the conference, PM Chính also asked the Ministry of Finance to immediately solve the order congestion situation and invest in technological innovation and digital technology application, while urgently implementing measures to upgrade the market from frontier to emerging status to attract investment capital, especially foreign investment.

Dominic Scriven, head of the Việt Nam Business Forum’s (VBF) Capital Markets Working Group, said that the move to purify the market is a great effort and determination from the Government.

As the goal is to build and develop a safe, transparent and sustainable securities market, cleansing the market will ensure the interests of businesses and genuine investors, increase the stock market’s appeal, and attract more investment capital flows both at home and abroad.

Meanwhile, Phạm Lưu Hưng, chief economist of SSI Securities Company (SSI), said that the move to purge the market in recent years raised expectations that the upgrade process will be easier. Hưng hoped that in the next assessment, the Market Rating Organization (MSCI) will note some positive comments about what Việt Nam has done.

According to Minister of Finance Hồ Đức Phớc, the ministry is currently working with international organisations to deploy solutions to upgrade the stock market by 2025 as per the set roadmap.

Huge foreign capital inflows

Analysts believe that the upgrade from frontier to emerging status will be an important driving force for the market.

Zafer Mustafaoglu, World Bank (WB) Practice Manager for Finance, Competitiveness and Innovation (FCI) for East Asia and Pacific, said that the capital market development is a long-term effort, and there is still much work to be done in Việt Nam.

Upgrading to emerging market status is not only an improvement in position, but also signals strong enhancement in quality with a solid market foundation.

Upgrading to an emerging market also attracts the attention of high-ranking international investors to Việt Nam. In the stock market, upgrading to an emerging market could result in an additional US$10 billion in new investment for the country. The first year alone can receive an additional $2-5 billion.

According to Nguyễn Minh Tuần, General Director of AFA Capital Investment JSC, the criteria for upgrading from frontier to emerging status focus on two main factors – size and liquidity of the market (quantitative) and market access (qualitative).

In terms of size and liquidity, there are four criteria which are the number of companies included in the Standard Index, total market capitalisation, floating capitalisation and market liquidity. Việt Nam has almost met three standards, he said. 

The main issue is qualitative standards. In the latest ranking in June 2021, there are nine criteria that the country has not yet met, including the ownership rate, ownership restrictions and equal rights of foreign investors.


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EVN accelerating projects to gear up for hot season




EVN workers checks electricity equipment. — VNA/  Photo

HÀ NỘI — Vietnam Electricity (EVN) said it is accelerating power generation and grid projects, especially urgent infrastructure, to ensure supplies in the hot season.

The State-owned group said in the first four months of 2022, the firm and its subsidiaries had started work on 30 projects and put into use 31 grid facilities between 110kV – 500kV.

It cited meteorological forecasting centres as saying that heatwaves this year are likely to appear in the northern and central regions later than usual, but won’t be too severe.

Power demand in the north is unlikely to rise sharply in May, and daily consumption will be around 805 million kWh.

EVN noted that this month, it is working to guarantee supply for production and business activities as well as daily life, especially the 31st Southeast Asian Games (SEA Games 31) and the 15th National Assembly’s third session.

It is maintaining high water levels at multi-purpose hydropower plants in the north, operating thermal power plants in the region, and importing about 540MW of electricity in May.

Its subsidiaries were also requested to ensure power supply in the dry season, ready manpower and equipment for any possible incidents due to natural disasters, and recommend people, agencies and factories use electricity in a safe and economical manner.

In April, the entire EVN system produced 22.62 billion kWh of electricity, up 1.9 per cent year-on-year. That added up to a four-month figure of 85.65 billion kWh, increasing 6.2 per cent. —


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Deputy Finance Minister Nguyễn Đức Chi takes charge of the State Securities Commission



Deputy Finance Minister Nguyễn Đức Chi. — Photo

HÀ NỘI — Minister of Finance Hồ Đức Phớc had assigned Deputy Finance Minister Nguyễn Đức Chi to take charge of the State Securities Commission (SSC) from May 19.

In a dispatch to the SSC, Minister Phớc stated that Deputy Minister Chi will manage the commission during the consideration and completion of personnel for the commission.

Earlier on May 18, the Party Central Committee’s Inspection Commission announced the inspection conclusions and Party disciplinary measures on the SSC Party Committee in the 2015-20 tenure and relevant individuals. Right after that, the Ministry of Finance directed the SSC, stock exchanges, the Việt Nam Securities Depository and relevant agencies to review and implement measures to remedy the violations and shortcomings.

Specifically, the ministry dismissed Trần Văn Dũng from the position of the Chairman of the SSC, while giving a warning to Vũ Bằng, former secretary of the SSC Party Committee in the 2015-20 tenure and former SSC Chairman.

Warnings were given to Nguyễn Thành Long, secretary of the Hà Nội Stock Exchange Party Committee; and Nguyễn Sơn, chairman of the management board of the Việt Nam Securities Depository for their wrongdoings during their tenures. —


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