Day: February 19, 2024

HCM City: The Ho Chi Minh Stock Exchange (HoSE) began its first trading session following the Tet (Lunar New Year) festival with a gong-beating ceremony on February 19, the 10th day of the lunar year.

In his remarks, Deputy Minister of Finance Nguyen Duc Chi noted with pleasure achievements in the domestic stock market and the HoSE in particular last year, saying despite global and regional economic uncertainties, the Vietnamese stock market still experienced growth in terms of index, liquidity, and capitalisation.

As the economic situation is forecast to continue developing unexpectedly this year, the official suggested the State Securities Commission (SSC), the Vietnam Exchange (VNX), the HoSE and other relevant sides work to develop the market sustainably.

He raised some solutions such as perfecting institutions, removing obstacles, ensuring the smooth operations of the trading, depository, and payment systems in the market, and optimising information-technology in operations.

The official also emphasi
sed the need to better market management and supervision, saying violations should be handled strictly to protect legal rights and interests of investors.

According to Chi, the ministry will organise a workshop in Q1 to seek solutions for the development of the market in 2024 and beyond.

Nguyen Thi Viet Ha, Acting Chairwoman of the HoSE, highlighted the exchange’s operational principles of safety, efficiency and sustainability, saying the number of listed firms committing to good corporate governance in 2023 increased by 12.7% from the previous year.

In 2024, the HoSE will focus on ensuring the safe and smooth operation of the new IT system, raising the quality of listed products, and improving the capacity of its employees, she added.

At the end of the last trading session of 2023, the VN-Index, which tracks the performance of the HoSE, closed at 1,129.93 points, up 12.2% as compared with the corresponding time in 2023.

As of December 29, 2023, market capitalisation on the HoSE rose 13.4% to 4.56 quadri
llion VND (185.83 billion USD).

In the year, the HoSE successfully conducted 249 trading sessions totaling 193 billion shares worth nearly 3.8 quadrillion VND, up 12% in volume but down 11% in value year-on-year./.

Source: Vietnam News Agency

Hanoi: Domestic gold price decreased by 150,000 VND (6.1 USD) per tael (37.5 grams) at the beginning of trading on February 19 – God of Wealth Day (the tenth day of the first lunar month) compared to the price at the end of February 18, with many fluctuations expected on the market during the day.

At 8.50 am, Phu Quy Jewelry Group listed its buying price of SJC gold at 75.4 million VND per tael and the selling price at 78.2 million VND per tael, down 350,000 VND per tael and 150,000 VND per tael, respectively, compared to the end of February 18.

The Saigon Jewelry Company (SJC) bought SJC gold at 75.4 million VND per tael, down 400,000 VND per tael, and sold at 78.42 million VND per tael, unchanged from the end of the previous day.

Vietnamese prefer buying gold to mark God of Wealth Day – the tenth day of the Lunar New Year, as legend has it that the God of Wealth returns to heaven on the tenth day of the first lunar month each year. Vietnamese people consider this God of Wealth Day, so they have a traditi
on of buying some gold for good luck and prosperity throughout the year./.

Source: Vietnam News Agency

An Giang: The Mekong Delta province of An Giang on February 19 exported 13 tonnes of flat-seeded mango to the Republic of Korea (RoK).

This is the first batch under an export contract signed between the GAP Cu Lao Gieng Cooperative in Cho Moi district and the Hoang Phat Fruit Ltd. Co.

This is an important event marking the cooperation in production and sales between the cooperative and fruit exporting companies in An Giang and other localities, thus promoting the connection between production and consumption of mango products in a value chain.

Speaking at the event, Vice Chairman of the provincial People’s Committee Nguyen Thi Minh Thuy said that it took more than 10 years of efforts of local authorities and farmers to open the door to demanding markets such as the US, Australia, RoK and other choosy markets in the world for An Giang’s mango.

The official held that the export of mango to RoK affirmed the position of the locality’s fruit in demanding markets, she added.

This is also a turning point for th
e local agricultural sector, helping bring about economic opportunities while bolstering the image and reputation of the district’s agricultural products in the international market, she added.

An Giang has more than 12,000 ha under mango, with Cho Moi district accounting for the largest area with 6,400ha.

The district has over 704ha of mango farming in line with VietGAP standards. The district has issued 41 planting area codes for over 6,149ha under mango for export to China, RoK, Japan, Australia, and the US./.

Source: Vietnam News Agency

Hai Duong: The Hai Duong provincial People’s Committee on February 19 held a ceremony to grant investment registration certificates to eight investors who committed over 2.2 trillion VND (89.65 million USD) in nine projects in the province.

The ceremony is the first of its kind that the committee held this year. Four of the investors are foreign.

According to the Management Board of Industrial Parks of Hai Duong province, from the beginning of this year, the province’s industrial parks have attracted about 2.6 trillion VND including about 1.87 trillion VND as domestic direct investment (DDI)

As of February 19, the parks had attracted 375 secondary investment projects including 294 foreign direct investment (FDI) ones from 26 countries, regions, and territories, with a total registered capital of about 6.1 billion USD and 81 DDI projects with a total registered investment capital of about 14 trillion VND.

In 2023, foreign investors registered new projects or adjusted investment capital to on-going projects
in the province with a total registered capital of over 1.2 billion USD. Meanwhile, the locality attracted over 6 trillion VND from DDI projects./.

Source: Vietnam News Agency

Hai Duong: Chairman of the People’s Committee of northern Hai Duong province Trieu The Hung visited foreign-invested firms operating in the locality on February 19, including Best Pacific Vietnam Co. Ltd. and Doosan Electro – Material Vietnam Co. Ltd.

Hung congratulated their business performances last year and wished for their continued efforts to improve the income of workers and their overall quality of life.

He proposed that companies continue partnering with local authorities in human resources training, with a particular focus on nurturing a highly skilled workforce from the local community, thereby strengthening the bond between workers and their enterprises.

Developing business operations must go hand in hand with improving working environment, reducing occupational hazards and protecting the health of workers, all aimed at fostering a healthier and more productive workforce, he said.

Departments, agencies and localities were also assigned to stay ready to support firms when needed./.

Source: Vi
etnam News Agency

HCM City: The Hoa Binh Construction Group announced on February 19 that it has won bidding packages to develop five social housing projects worth 72 million USD in Kenya.

Invested by the Ministry of Lands, Public Works, Housing, and Urban Development of Kenya, the projects aim to provide accommodation for the police and military forces, and students of the Technical University of Kenya.

The group will serve as the main contractor responsible for both the design and construction of housing and infrastructure systems for the projects which total 3,400 apartments.

In addition, it has also received invitations to the next round for two other social housing projects in the African country after successfully passing the credibility and capability assessment for contractors conducted by the Kenyan government. The firm has been invited to submit its design and construction proposals for these projects which total an estimated 91.6 million USD.

Le Viet Hai, Chairman of the Board of Directors of the group, said Afr
ica is considered the largest and most promising construction market in all continents in the coming decades.

In the immediate future, Hoa Binh will focus on bidding for social housing construction projects before progressing to higher-end projects, he added.

Previously, representatives of the group undertook a field trip to Kenya, which is the first target market for the firm in Africa. Winning the bid for the aforementioned projects is an initial success for the group in its development strategy targeting the African market as part of its approach toward future work in other international markets./.

Source: Vietnam News Agency

Hanoi: The US Department of Commerce (DOC) has issued a notice regarding the acceptance period for requests for antidumping and countervailing duty administrative reviews regarding certain imported products from Vietnam, according to the Trade Remedies Authority of Vietnam.

The DOC’s period of review (POR) concerning anti-dumping duties on certain frozen warmwater shrimp (case number: A-552-802), steel wire garment hangers (A-552-812), and utility scale wind towers (A-552-814) is from February 1, 2023 to January 31, 2024.

In addition, the POR of countervailing duties on steel wire garment hangers (C-552-813) is from January 1 to December 31, 2023.

According to the authority, the deadline for relevant parties to submit requests for reviews is February 29 this year.

Therefore, the authority has urged relevant export associations and enterprises to proactively study and grasp the regulations, procedures, and requirements for these reviews in the US.

They are advised to fully cooperate with US investigation
agencies throughout the review process and to notify the authority for timely support./.

Source: Vietnam News Agency