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Vietnamese tech firm files for IPO in US

VNG Corp, a Vietnamese tech firm most well known for a slew of popular video games and social messaging app Zalo has filed to list on the US stock exchange, according to Vietnam Net. VNG has been talking about listing for a long time now–in 2017 it signed an MOU to list on the Nasdaq however the listing never went through. This time around it will follow on the back of an IPO-via-merger for Vietnam’s VinFast and this could suggest it is more likely to go through. 

Note: In January, VNG listed on Unlisted Public Company Market (UPCoM) in Hanoi with a valuation of US$364 million.

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Vietnam shelves new coal power plant in southern Vietnam

Of note, it was announced at the beginning of June that Toyo had managed to secure a US$980 million loan from Exim Bank. This announcement, however, was met with some concern on account of the fact that Vietnam has signed up to a Just Energy Partnership Agreement worth US$15.5 billion to be used to reduce its dependence on coal…

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Vietnam CPI Tracker: 4.34 percent in June [data set]

Inflation has been relatively low in Vietnam compared to other parts of the world but this is largely due to government price controls. These lower prices, however, have come at a cost. Input prices, particularly in input dependent industries have risen, however, businesses in many industries have been unable to raise their pricing to compensate. As a result, many have seen their profit margins squeezed while others have had to run at a loss…

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Vietnam News Roundup: June 29 to July 4

This week’s Vietnam news roundup covers the latest tourism and industrial production numbers, the increase to the minimum wage that kicked in Monday, the new start dates for several key laws, approval of a Value-Added Tax reduction to the end of the year, foreign trader stock market transactions, and more…

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