Viet Nam News HÀ NỘI — The Hà Nội Stock Exchange has approved The Hà Nội Textile Garment Company (Hanosimex) to list 20.5 million shares on Unlisted Public Company Market (UPCoM) on April 19. The reference price for its shares, which will be listed under code HSM, will begin at VNĐ15,800 (US$0.7) per share, equivalent to market capitalisation of VNĐ431 billion ($18.9 million) Hanosimex, formerly named Hà Nội Fibre Plant, was put into operation in 1984. The company was equitised in 2007, with the State holding 57 per cent of charter capital, worth an estimated VNĐ205 billion. Since then, the company has not increased its charter capital. As of January 9, 2018 Hanosimex had two major shareholders holding 76.19 per cent of its charter capital, namely the Việt Nam National Garment and Textile Group (Vinatex), owning 57.57 per cent of capital, and Việt Nam Textile and Garment Infrastructure Development and … [Read more...] about Hanosimex to list on UPCOM on April 19
Owning numerous large-scale land plots may attract investors to Hanosimex for its listing on the Unlisted Public Company Market (UpCOM). Hanosimex's land plots may act as a counterpoint to the firm's average performance The Hanoi Stock Exchange has approved Hanoi Textile and Garment Joint Stock Corporation (Hanosimex) to list 20.5 million shares on UpCOM at the reference price of VND15,800. According to the plan, the listing will be conducted on April 19. Established in 1984, Hanosimex is a large-scale corporation within the yarn-textile-garments supply chain of Vinatex, with factories in Hanoi, Bac Ninh, Hung Yen, Ha Nam, Nghe An, and Ha Tinh provinces. In 2017, Hanosimex reported a revenue of VND2.36 trillion ($103.6 million), including VND1.65 trillion ($72.4 million) of revenue from the yarn segment and VND335 billion ($14.7 million) from the garment segment. VND1.58 trillion ($69.37 million–67.31 per cent) of its revenue came from exports, while VND771 billion … [Read more...] about Large land bank may lure investors to Hanosimex?
Hanoi (VNA) - The Ministry of Planning and Investment will continue to draft a law designed to overcome difficulties in conducting business in Vietnam, after a set of new laws and decrees just took effect on July 1. Minister of Planning and Investment Nguyen Chi Dung told Dau Tu (Vietnam Investment Review) that a new law regulating future revision of the enterprise and investment laws is expected to be presented to the National Assembly in October. âThe goal is to create a good legal system to boost business development and attract new investment flows,â he said. Experts have recently expressed doubts about the quality of the new decrees, which might have been drafted too hastily as ministries rushed to complete them by the target date. With regard to this matter, the Central Institute for Economic Management (CIEM) Deputy Director Phan Duc Hieu said: âThey should not be overly doubtful.â Hieu said the ministries compiled the documents based on more than 300 suggestions by the … [Read more...] about New law for business in pipeline
Many giant international retail groups such as Auchan, Robinson and Walmart are likely to set up more convenience stores, supermarkets and big commercial centres in Vietnam when the country completely opens its retail market next year, said the Vietnam Business Forum Magazine (VBF). Vietnam 's retail market is changing extensively, becoming more modern and integrated. In the first ten months of 2014, total retail sales nationwide reached nearly 2,400,480 billion VND, up 11.1 percent compared to the same period of 2013. Total retail sales of goods and services for 2014 are projected to reach 2,970 trillion VND, up 11.3 percent compared to 2013. According to the Vietnam Retailers Association, as of 2013, Vietnam had about 724 supermarkets, 132 commercial centres, a few hundred convenience stores, nearly 9,000 markets of various kinds and about 1 million family stores. By 2020, the country is expected to have about 1,200-1,300 supermarkets, 180 trade centres and 157 shopping centres. … [Read more...] about Retail market moves towards modernisation
Hanoi (VNA) â The Government should not adjust the economic growth target of 6.7 percent even though it is unlikely to meet it this year, experts said during a conference in Hanoi on July 26. âI suppose it is good that the Government keeps the target intact,â Nguyen Dinh Cung, Director of the Central Institute for Economic Management (CIEM), said as the agency issued its economic update for the second quarter of 2016. âBy not adjusting it, we will have things to dissect at the end of the year â why we failed to achieve the goal. We need to seek measures and opportunities rather than to sit clapping hands [for attaining a lower target],â he said. The report of the CIEM, an agency advising the Government on economic management policies, reiterated that Vietnamâs aim for a 6.7 percent growth rate is almost unfeasible â just like expert forecasts reported by local media earlier this year. Cung said the country had not regained the momentum for gross domestic product (GDP) … [Read more...] about Govât should stick with growth goal: experts