VietNamNet Bridge - Reviewing the 30 years of innovation in order to see what we have accomplished, what we have not yet fulfilled and what we should adjust to fit the reality ... is a very big issue that we cannot just discuss in several talks. This talk, with the participation of Mr. Pham Viet Muon, former Deputy Director of the Government Office, deputy head of the Enterprise Innovation and Development Committee, therefore, only focuses on the corporate sector.VietNamNet: Restructuring state-owned enterprises with a focus on equitization is defined as a critical political mission. Looking back at the 30 years of renovation, what do you think about the implementation of this goal? Pham Viet Muon: We have been implementing 30 years of innovation and we're summarizing 30 years of innovation. The corporate sector has benefited a lot from the economic renewal of the country since 1986.In fact, state-owned enterprises had formed much earlier, since the government was held by the … [Read more...] about Why are investors not interested in purchasing shares of SOEs?
How to purchase shares in stock market
Businesses seek opportunities at Int'l Boston Seafood Show Nearly 30 Vietnamese businesses are attending the International Boston Seafood Show in Massachusetts, the US, from March 11-13. The three-day event, the largest in the North American region introducing frozen and canned seafood products, have attracted representatives from over 900 import-export companies, distributors and supermarkets from the US and other nations in the world. Shrimps are traditional goods of Vietnamese businesses at this year's fair. In addition, high quality Tra fillets also attracted the American and international customers. Nguyen Huu Dung, Vice President of the Vietnam Association of Seafood Exporters and Producers (VASEP) said that this is the 14th consecutive year Vietnamese businesses have participated in the event. However, apart from maintaining the US market, Vietnam seafood businesses have also sought new markets. At this show, Dung said many South American countries like Columbia, … [Read more...] about BUSINESS IN BRIEF 14/3
Experts criticize provisions in business lawsVietinBank teams up with LotteMart Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) will provide services for South Korea's LotteMart supermarkets according to a comprehensive cooperation deal signed by the two sides in HCMC on Thursday. At the signing ceremony, deputy general director Nguyen Van Du of VietinBank said his bank will provide finance and banking services to the retail stores of the South Korean firm. Under the agreement, VietinBank will issue cards and accept card payments and offer modern banking services at LotteMart supermarkets. Besides, both sides will jointly deploy marketing programs and enhance strategic cooperation to expand the supermarkets' network across the country. "The finance and banking market and the retail market have a close relationship with each other as retailers always need lenders to assist customers to make payment," Pyong Gyu Hong, general director of LotteMart, told the … [Read more...] about BUSINESS IN BRIEF 3/10
Warning status on EIB shares extended Shares of the Vietnam Commercial Export and Import Bank (Eximbank) will continue to bear a warning status after the bank reported retained losses of VND756.8 billion ($33.9 million) as at June 30. The share was first given a warning status by the Ho Chi Minh City Stock Exchange (HoSE) on April 8 because of its retained losses, which it has failed to address. HoSE will now consider the next step in reviewing Eximbank's status based on the bank's audited consolidated financial statements for 2016. Eximbank's after-tax profit for the first six months of this year reached VND60.7 billion ($2.7 million), with retained losses of VND756.8 billion ($33.9 million). As at June 30 the bank's lending balance stood at VND80.8 trillion ($3.6 billion), down 4.62 per cent compared to the end of 2015. Its credit balance was VND100.7 trillion ($4.5 billion), up 2.33 per cent compared to the end of 2015, with total assets at VND121.7 trillion ($5.4 billion), down 3.3 … [Read more...] about BUSINESS IN BRIEF 13/9
Housing market recovery helps property firm shares Dang Tran Hai Dang, the company's research and analysis deputy director, told a seminar on an overview of the real estate market and investment opportunities that most shares in the sector had outperformed the VN Index in the past three months though they gave up some of the gains in November when the market retreated. In the past six months, the property sector accounted for the highest trading value, with 18.7 per cent of the total. In terms of market capitalisation, the sector accounted for 12 per cent, second only to banking. But Dang pointed out that in the first nine months of the year almost 40 per cent of the listed real estate companies saw profits fall while 22.4 per cent suffered losses. In the short term investors should consider companies with projects at strategic locations, like near the railway route in Ha Noi, the metro lines in HCM City, and ports, airports and beach resorts in Da Nang, Nha Trang, and Phu Quoc. … [Read more...] about BUSINESS IN BRIEF 7/12