The Vietnam Business Forum’s Power and Energy Working Group has published a report in which they say that a lack of legal frameworks around renewable energy is causing problems for firms looking to develop the sector, Bloomberg is reporting. Specifically, the working group has called for clearer regulations around power
Vietnam is becoming increasingly dependant on oil imports with 9.02 million tons imported in the first ten months of this year, an 11.6 percent increase over the same period last year, Vietnam Net is reporting. It also imported petrol products to the tune of 8.79 million tons. In contrast, over
The HoSE closed up +0.62 percent or 6.8 points to today to finished the session at 1,110.46. Foreign investor trades on HoSE from November 12 to November 21 Buy Sell Change Date VND US$ VND US$ VND US$ 15/11 1,694 $70,174,119 1,449 $60,024,970 245 $10,149,150 16/11 1,030 $42,667,853 1,160 $48,053,116
Vietnam’s personal income tax receipts in the first nine months of this year were down VND 7.2 trillion (US$299 million) over the same period last year, Tuoi Tre is reporting. The article goes on to say this is due to a reduction in real estate transfer taxes which are included
The only three IPOs in Vietnam so far this year pulled in just US$7 million, The Investor is reporting. The publication is referencing a report from Deloitte and suggests that the Ho Chi Minh City Stock Exchanges poor performance this year has seen firms delaying their IPOs. The three IPOs
Vietnam had just 8 IPOs last year compared to 42 in Thailand and 59 in Indonesia, Vietnam News is reporting. The publication’s core argument is that a lack of IPOs, and subsequently diversity, is a turn off for foreign investors. Of note, Thailand and Indonesia are both considered ‘emerging’ markets
The VN-Index has started the week on a positive note despite revelations over the weekend that more than US$12 billion dollars had been misapproprtiated from Saigon Commercial Bank over a ten year period. All-in-all the local index gained .22 percent to finished the day at 1,103.66, according to HoSE data.
Petrol retailers in Vietnam are now allowed to source petrol from up to three distributors as opposed to one previously, Doanh Nhan Vietnam is reporting. The changes are outlined in Decree 80/2023/ND-CP. Why it matters: Petrol shortages were common last year as oil prices spiked and prices set by the
HG Tech, a Chinese manufacturer that specializes in optical devices, lasers, sensors and car parts, is planning a US$50 million factory in northern Vietnam’s Bac Ninh province, The Investor is reporting. The factory is slated to cover five hectares and will supply an increasing number of HG Tech customers in
Layoffs and closures in the real state sector are ongoing, The Investor is reporting. Specifically, Housing Development and Trading Joint Stock Company (HDTC) earlier this month announced it would furlough its workforce without pay until business picks up again. The Investors goes on to list several large real estate firms
The chairperson of Van Thinh Phat, Lan My Truong, whose arrest last year resulted in a brief run-on Saigon Commercial Bank (SCB) with which she was heavily involved, embezzled between US$12 billion and US$44 billion, VN Express is reporting. Over roughly ten years, Truong embezzled the funds by writing fake
VN Express is reporting that shares fell Friday on the Ho Chi Minh Stock Exchange on news out of the US that two law firms were looking to establish class action lawsuits against Vietnam’s Vinfast over breaches in disclosure rules. According to the article, Vinfast is confident this is just
The VN-Index has finished the week on a downer falling 24.34 points or 2.16 percent to finish the week at 1,101.19. Foreign investor trades on HoSE from November 10 to November 17 Buy Sell Change Date VND US$ VND US$ VND US$ 13/11 1,110 $45,905,715 1,488 $61,538,472 -378 -$15,632,757 14/11
Despite a brand new LNG terminal in southern Vietnam, it’s unlikely Vietnam will be able to use LNG imported until 2025, The Investor is reporting. Vietnam currently has no LNG fired power plants to speak of and the first LNG plant is not expected to come online until the end
Vietjet announced today that it would lift its foreign ownership cap to 30 percent, The Investor is reporting. Vietjet has been expanding aggressively in the last year or so and this move may be a means to attract more capital to expand even further. That said, by law a maximum
The price of January coffee futures in London was up this week after heavy rains in central Vietnam, a key coffee growing region delayed the coffee harvest, Business Recorder is reporting. Domestic coffee prices in Vietnam this week Dak Lak Lam Dong Date Per Kilo Change Per Kilo Change Date
C-level executives at Spectrum Gaming Group, a consultancy specialising in legalised gambling have called for Vietnam to formalise its gaming sector by consolidating legislation and appointing a single regulator, according to an op-ed published in Inside Asian Gaming. They say that the legislation in the sector is currently scattered with
The VN-Index has continued is winning streak, closing out the day up a small but still better than nothing, 3.03 points or .27 percent, according to HoSE data. Vietnam’s key index is now sitting at 1,125.53. Foreign investors, however, changed their tune from yesterday when they net-bought US$10 million worth
The HCMC Real Estate Association (HoREA) has called for an extension of Decree 08/2023 which has delayed to the implementation of tighten bond market regulations outlined in Decree 65/2020, The Saigon Times is reporting. Decree 65 when fully implemented would see bonds given credit ratings and bond market interactions limited
Vietnam has squeezed into the 2023 Global Talent Competitiveness Index in 75th place just behind Mexico in 74th place and ahead of Mongolia at 76, Vietnam Net is reporting. Vietnam, Global Talent Competitiveness Index 2023, key metrics table Metric Description Score Rank Enable Regulatory, market, business and labour landscape 46.78