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BUSINESS
IN BRIEF 7/6
Piaggio
Vietnam Register
said Piaggio
Piaggio
The company
launched the Vespa Primavera in the Vietnamese market in November last year
as a replacement for its Vespa LX model.
Piaggio
Piaggio
Although no
incident has been reported regarding this problem, Piaggio
After the period,
Piaggio
Customers can call
the company’s hotline at 1800555585 or email to
customer.service@piaggio.com.vn to learn more about the recall.
Thousands
of foreign experts return to work in Binh Duong
More than 2,100 out
of 2,650 foreign experts have returned to their work in industrial zones in
the southern
The information was
revealed by Tran Van Lieu, head of the provincial management board of
industrial zones (IZs) at a press briefing on the province’s socio-economic
development situation on June 4.
Lieu also said the
board has granted work permits free-of-charge to foreign experts.
At the briefing,
Vice Chairman of the provincial People’s Committee informed that Binh Duong
maintained a high economic growth in the first five months of the year, with
its industrial production reaching over 70 trillion VND (3.3 billion USD), up
12 percent year-on-year, and an export turnover of 5.5 billion USD, up 11
percent.
The same day, the
province held a ceremony to hand over investment licences to 41 FDI projects
with a combined capital of 146 million USD.
According to Mai
Hung Dung, Director of the provincial Department of Planning and Investment,
among the projects, there are 10 from Japan, nine from the Republic of Korea,
five from China, four from Hong Kong and three from Taiwan. Eight licences
were issued after May 15.
This is a positive
sign for the province as it is one among the three localities most seriously
affected by disturbances which occurred on May 13-14 when some individuals
took advantage of workers' rallies - in protest of China's illegal placement
of its Haiyang Shiyou-981 drilling rig in Vietnam’s waters - to incite others
to damage and loot assets of some foreign-invested companies and factories.
Singaporean
investors still confident in
Singaporean
companies still have confidence in
The riots will not
have an adverse impact on business ties between our two countries, SBG Ho Chi
Minh City Chapter president Norman Lim told reporters during the Vietnam
Singapore Business Forum held in the city on June 4-6.
The forum, held at
the Duxton Hotel, welcomed 25 participants and panellists from ministries,
trade and investment promotion organisations, local provinces, and leading
corporations from both countries.
It aims to serve as
a platform for Vietnamese and Singaporean businesses to get updates on
Vietnam’s economic outlook, investment environment, and the commitment by
both governments and local authorities to maintain benefits and stability for
Singapore’s investors, as well as explore business opportunities under the
two countries’ strategic partnership through a direct dialogue with
representatives from Vietnam’s Ministry of Planning and Investment (MPI) and
various economic experts.
Vietnam Chamber of
Commerce and Industry (VCCI) vice president Dr. Doan Duy Khuong said at the
opening session, “This year’s forum is considered an important annual event
will deeply contribute to the success of multifaceted co-operation between
The event was
hosted by the VCCI and support by International Enterprise
Edlyn Khoo, centre
director in Ho Chi Minh City, South East Asia Group, IE Singapore, said,
“Vietnam is a country with strong economic fundamentals, such as a growing
young working population and a rich endowment of resources. Singaporean
companies are good potential partners, with services and expertise that can
complement
On the second day,
the event will continue with panel discussions on four main topics: financial
services co-operation, tourism and hospitality, agriculture and aquaculture
production, and real estate investment. The third day will include site
visits to industrial zones and corporations located in neighbouring Binh
Duong province.
The southern city
of
Its industrial
parks are currently home to 211 valid projects worth nearly1.9 billion USD in
total registered capital.
As much as 844
million USD of the money has been disbursed in projects in food processing,
agro-forestry and aquatic exports, footwear, fertiliser, chemicals, iron and
steel, and automobile assembling.
In the first five
months of this year, firms operating there enjoyed sales of 673 million USD,
registering a year-on-year increase of 2 percent.
Most recently,
local authorities have granted a licence for the Nha Trang Seafood Company to
carry out its projects building a seafood processing plant and expanding the
Saigon-Can Tho Beer Factory, with a total investment of 21 million USD.
Additionally, the
city is developing four industrial parks of 1,150 ha and building a waste
treatment factory at Tra Noc industrial park, which is expected to benefit
nearly 190 businesses there once completed.
The country’s
largest rice producer, the Mekong Delta comprises of 12 provinces and one
centrally-run city.
Dak Lak
aims to exploit tourism potential
The Central
Highlands
Dak Lak is famous
for its many attractive sites, such as
The lake retains
the unique and characteristic cultural values of M'Nong and
During a recent
conference discussing tourism development in the locality, participants
stressed that Dak Lak must speed up its community-based tourism model, while
paying attention to preserving natural landscapes as well as historical and
cultural relic sites.
They also urged the
local authorities to examine the organisation of cultural events, while
diversifying products and services, and forging links between Dak Lak and
other regional localities such as Gia Lai and Lam Dong to thoroughly exploit
regional cultural values and beauty, thus attracting more holiday-makers to
the locality.
In February this
year, Dak Lak welcomed 40,000 visitors, an increase of 1.33 percent compared
to the same period last year. Of them, 4,000 were foreigners, up 1.14
percent.-
Consumers
milk price drops for what they’re worth
The selling price
of milk products for children less than 6 years old has been reduced after
the Ministry of Finance applied a price ceiling on the products from June 1.
Several milk
products saw a strong price drop, fluctuating between 15-20 percent.
At Duc Dung milk
store in
According to Nguyen
Thi Huyen, a representative from the Lien Dat milk company in
The ministry’s
regulation has been applauded by consumers, who previously had to spend a lot
of money to buy milk for their children.
Following a directive
by Prime Minister Nguyen Tan Dung, the Ministries of Finance and Industry and
Trade investigated the price regulations and taxes at five milk producers and
traders from March 10 to April 10. These firms were the Vietnam Dairy Joint
Stock Company (Vinamilk), 3A Nutrition (Vietnam) Ltd Company, Nestle Vietnam
Ltd Company, Friesland Campina Vietnam Ltd Company and Mead Johnson Nutrition
(Vietnam) Ltd Company.
According to the
investigation report, last year and during the first three months of this
year, these companies increased the prices of milk products for children less
than 6 years old by 2.4 percent to 30.66 percent.
Therefore, the
Ministry of Finance proposed to apply a price ceiling on the firms’ milk
products for children.
In early May, the
Prime Minister approved the proposal, which is one way of controlling and
stabilising the prices of these products in the coming time.
SBV calms
forex fluctuations
Commercial banks
pushed the US dollar rate to the ceiling on Monday, spurring the central bank
to lower its selling price yesterday in a bid to calm the market.
The foreign
exchange fever led to many banks listing the US dollar rate at or near the
ceiling price of VND21,246 per USD.
Both Vietinbank and
Techcombank lifted their selling price to the highest rate of VND21,246 per
USD, while others, including Asia Commercial Bank, Eximbank, BIDV, Maritime
Bank and Sacombank, are selling one USD at VND21,245.
Vietcombank sold at
the lower price of VND21,240.
During the past two
days, banks have raised the exchange rate by VND40-50 per dollar, lifting the
rate to its highest-ever level.
In a quick move to
calm the market, the State Bank of Viet Nam (SBV) yesterday morning adjusted
down its selling price from VND21,246 on Monday to VND21,240.
According to the
SBV's Monetary Policy Department, the central bank is still closely
monitoring the situation.
The last time banks
pushed up the USD forex to the ceiling was in July last year. At that time,
banks even offered dual rates. This meant companies had to buy dollars at
higher prices than the listing rates.
The deputy general
director of a commercial bank said movements on the forex market reflected
changes in demand and supply, but confirmed the rate hike was in line with
State Bank regulations.
According to analysts,
the situation is not alarming as the distance between the buying and selling
rates is modest from VND60-90 per USD at most banks. This shows that dollar
demand has not climbed to and intense level.
Two weeks ago, in
response to unusual developments on the forex market, the SBV said it would
sell foreign currency to stabilise the market. Earlier in April, Governor of
the State Bank said the exchange rate would be kept stable until the end of
the year and any adjustments would not exceed 1 per cent.
Agriculture
sector seeks new markets
The export market
for agricultural products must be diversified to avoid the dependence on a
single market, said ministers from two different ministries.
The Ministry of
Agriculture and Rural Development and the Ministry of Industry and Trade, on
Tuesday, jointly held a conference to discuss measures to boost exports of
farming and aquatic products, amid the spiralling tensions with
Minister of
Industry and Trade Vu Huy Hoang said that trade between
However, if the
situation gets worse, agricultural products' exports would be badly hit as
"It is time
for the agriculture sector in
However, production
and exports are facing a number of difficulties, such as diversification of
products, markets and standards for exports.
The exports of
several agricultural products saw a decline. Rice fell by 7 per cent on
export volume and 5.3 per cent on value to $1.2 billion. Rubber exports fell
sharply in the first five months by 40 per cent in value to $472 billion,
according to Tran Thi Thuy Hoa from the rubber association.
The rubber sector
was encountering high stockpiles in the world market, Hoa said, and added
that the price tended to fall as a result of supply exceeding demand, which
was likely to continue for several years.
According to
Minister of Agriculture and Rural Development Cao Duc Phat, expanding markets
were indispensable for the development of the agricultural sector, which
played an important role in the
However, seeking
new markets was not easy as the competition was tough, and many countries had
applied trade barriers on several Vietnamese farming and fisheries products.
Quality was also a
problem because many agricultural products of
The export strategy
from 2011 to 2020, with a vision for 2030, said that the structure of export
products would be shifted to processed products with high quality, high added
value and strong brand name.
However, the lack
of capitals and technology supports were holding back progress.
Anh said standards
must be set up to raise the quality of agricultural products, and added that
the Ministry of Industry and Trade would negotiate to expand export markets
with incentives to remove tax and trade barriers.
A memorandum of
understanding to this effect was signed at the conference between the two
ministers to promote exports of seafood and farm products.
The Viet
Nam-Singapore Business Forum (VSBF) 2014 opened yesterday in
Hosted by the Viet
Nam Chamber of Commerce and Industry, the three-day event has attracted more
than 250 representatives from ministries, trade and investment promotion
organisations, local provinces and leading corporations from
At the event,
Vietnamese and
Participants can
also explore business opportunities through dialogue with representatives
from the Ministry of Planning and Investment and various economic experts.
Edlyn Khoo, centre
director (
"At the same
time, a safe and stable business environment continues to be critical to
investment decisions. Closer collaboration on both sides will benefit not
just businesses but also positively impact the local community through job
creation and knowledge transfer."
At the press
conference before the official opening ceremony of the forum, the president
of Singapore Business Group in
He said that
At the event today,
investment opportunities will be explored during discussions on four main
topics, including financial services co-operation, tourism and hospitality,
agriculture and aquaculture production, and real estate investment.
Doan Duy Khuong,
vice president of VCCI, said that bilateral trade turnover last year was
US$13 billion, an increase of 10.7 per cent.
He said he believed
the event would continue to connect businesses of the two countries and
provide an excellent platform to explore new opportunities, especially under
the new Strategic Partnership as well as in the context of moving towards the
ASEAN Economic Community by 2015.
Retailers
told to revamp domestic market strategy
Domestic retailers
should have specific development strategies to compete with foreign investors
whose modern retail are channeled with high turnover, announced Vu Vinh Phu,
chairman of Ha Noi Supermarkets Association.
Phu stated that the
competition between local and foreign retailers have been mentioned for a
long time, as
He reported at the online
forum to discuss opportunities and challenges for the country's retail market
held in Ha Noi yesterday that
"Small-scale
capital, low professional and services have been hindrances for domestic
retailers to compete with foreign retailers. Especially, a lack of
association and cooperation among retailers and between retailers and
producers has contributed to the low competitiveness," he added.
He noted that there
were few domestic retailers who possessed outstanding or special
characteristics but were slow in renewal.
Domestic retailers
have called for support from the government to ensure equality among the
local and foreign companies.
He proposed to
reduce the current value-added tax from 10 per cent to 5 per cent to promote
purchasing power.
Tran Nguyen
Statistics from the
ministry revealed that modern retail channel accounted for less than 20 per
cent while the remaining percentage still belonged to traditional markets.
Foreign groups made
up only 6-7 per cent of the market.
Dinh Thi My Loan,
chairwoman of the Viet Nam Retailers Association, agreed that the retail
market has been attractive to enterprises both inside and outside the
country, with an average growth rate of 6 per cent.
"Experts
revealed that
Nguyen Trong Tuan,
deputy general director of Ocean Retail and Real Estate Management Company,
stated that foreign retailers have taken advantage in opening their shopping
chains since 2009.
However, Vietnamese
retail companies also have to seize the opportunities to expand investments and
enhance training of human resources.
"This will
ensure that the expansion of foreign businesses is not a challenge but an
opportunity for Vietnamese enterprises," Tuan added.
Tran Nhat Linh,
director of non-traditional selling channel at The Gioi Di Dong Company,
stated that the joining of foreign retailers to the market will bring
opportunities for local firms to change themselves and gain success.
Linh noted that
foreign retailers such as Metro and BigC have built large supermarket models
while the companies focused on small shops across the country.
"I think that
there will always opportunities for domestic retailers. The issue is how to
set up a suitable strategy for development," he added.
Business
forum to be held in Mongolia
The Mongolia-Viet
Nam Friendship Association and the Viet Nam-Mongolia Friendship Association
have jointly organised a seminar for the two countries' businesses in
Both the countries
agreed that the seminar offered a good chance for businesses to exchange
experience and expand connections.
They vowed to
continue helping the two countries' enterprises strengthen their cooperation
in order to boost bilateral economic and trade ties and enhance mutual trust
and understanding between the two countries.
Bac Lieu
aquatic exports reach record high
Aquatic exports of
Prices of aquatic
exports have increased by $2-3 per kilogram on average, benefiting both
farmers and businesses.
In recent years,
local exporters have reportedly paid due attention to protecting their
trademarks and ensuring the quality of products, while authorities have also
facilitated their access to preferential credit sources to renovate
production lines.
In the future,
managerial agencies plan to help Bac Lieu, in the Cuu Long (
Long An
reports high growth in production
The index of
industrial production (IIP) and exports of the southern
The province's IIP
surged 16 per cent on year while exports also jumped more than 11 per cent to
US$1 billion in the January-May period.
Long An has now
attracted 1,300 businesses operating in its 28 industrial zones, including
500 FDI enterprises, creating 87,000 stable jobs for local workers.
Promoting
investment attraction, creating safe, effective and friendly investment
environment are factors that help Long An to speed up industrial development,
exports. Securities at the industrial parks have been well organised in the
past 5 months that also make foreign investors assured to continue their
businesses.
Government
finds solutions for agro-aqua exports
The Ministry of
Industry and Trade and the Ministry of Agriculture and Rural Development on
June 3 signed a memorandum of understanding to solve difficulties in
agricultural and seafood product exports.
Agro and aqua
export turnover reached US$9 billion year to date, a 13 percent year on year
increase, according to the two ministries’ estimates.
The number accounts
for 15 percent of the country’s total exports and is expected to reach US$21
billion this year, up 5.8 percent over last year.
However, May
exports reduced 8.2 percent over April. The most reduction was on tea, rice
and cassava.
Farmers nationwide
have a good harvest of the winter spring rice crop with output increase by
600,000 tons over last year, said Minister of Agriculture and Rural
Development Cao Duc Phat.
Besides breeding
and seafood farming have recovered after a long time of good prices.
However export
markets have been narrowed which might cause the prices to fall down, he
added.
Minister of
Industry and Trade Vu Huy Hoang said seeking for consumption markets for agro
and aqua products was not easy. Several countries have applied protection
measures and trade barriers on farm and seafood products that earn most money
in
The Government as a
result has prompted the two ministries to diversify products and expand
export markets in order to deal with increasing trade protection in the
world.
Dragon
fruit prices tumble in Mekong Delta
The prices of
dragon fruits have drastically fallen to fetch only VND3,000-4,000 a kilogram
in the Mekong Delta over the last few days.
Early this year, a
kilogram of white-flesh dragon fruit was sold at VND20,000-22,000 while the
price of red-flesh variety was double, said the fruit grower Truong Van Tan
from Cho Gao District,
In addition to the
price fall, it is not easy for farmers to sell products and they are
suffering heavy losses.
It is peak harvest
time of the dragon fruit and other fruits also in the Mekong Detla, said Vo
Chi Thien, chairman of the My Tinh An Dragon Fruit Cooperative in Cho Gao.
Besides, 80 percent
of the dragon fruit output has been exported to
Dragon fruit prices
usually reduce in the Dragon Boat Festival that falls on the fifth day of the
fifth lunar month every year. This year, it has decreased drastically and
quickly.
The most concern is
that several areas in Tien Giang, Long An, Tra Vinh, and Vinh Long Provinces
have widened the fruit farming areas.
First Solar
sale sees light at the end of the tunnel
After two years in
stasis, US-backed First Solar Vietnam’s billion dollar photovoltaic panel
manufacturing facility may soon be back on track.
The project was
licensed in January 2011 and started construction two months later.
At that time, the
developer said the facility’s $300 million first phase, with a production
capacity equivalent to 250 megawatts per year, would start operations in late
2012.
According to their
plan, the total investment in the project would eventually reach $1.2
billion. It would be the first solar panel manufacturing facility in
However, just eight
months after construction kicked-off, the developer announced its decision to
postpone the project.
A top executive at
First Solar said the decision was made based on a supply-demand imbalance in
the global market.
In July 2012, the
project again aroused public interest when property advisory firm Cushman
& Wakefield announced they would be representing First Solar in seeking
investors to buy the facility, located in
The investor said
they wanted to finalise a sale within 12 months time.
In light of the
existing laws, for sizable projects like that of First Solar’s there are two
options for transferring ownership.
The first is a
capital transfer to a partner. In this case, the partner would be responsible
for maintaining the business field and investment level First Solar
registered. The other option is an asset transfer (sale of the facility as
is) which would require the developer to have basic legal documents showing,
for instance, ownership of the land and the existing assets on that land.
At a press conference
in October 2013, a representative from Ho Chi Minh City Export Processing and
Industrial Zone Authority (Hepza) said, “The project’s factory has attracted
significant investor attention, but a transfer is still impossible due to
issues related to land and assets.”
In a talk with VIR
late last month, head of the Business Management Department at Hepza Bui Thi
Nu said it was nearly impossible to find a suitable investor to continue and
finish the First Solar project as due to the scale of the project, the
investor is looking to the second aforementioned option – selling its assets.
“The necessary
legal procedures for the project will soon be completed. The procedures,
including a land-use certificate and a certificate for the assets on that
land, are being notarised,” Nu explained.
Nu also said that
the developer’s representative, Cushman & Wakefield, has worked with
Hepza and city authorities to speed up the process.
This means the
project’s legal obstacles have been nearly settled, paving the way for the
developer to take the next step, which is likely to be a transfer of their
assets (production facility) to a suitable partner.
A Hepza report in
late 2013 showed that First Solar’s panel project had been suspended due to
effects of the global recession that the developer had thus far invested $50
million.
Steel firms
in doldrums
Several listed
steel firms reported losses in the first quarter of this year.
Currently, there
are 15 steel enterprises listed on the stock market. Most of them have seen
lower profits or even suffered losses, while only four have seen rising
profits, reported Vietstock.
Ton Hoa Sen Group
(code HSG) saw weak profits in the first three months of 2014 with only VND68
billion ($3.23 million), less than one-third of its profits in comparison
with the same preriod last year.
The company
attributed the downtrend to difficulties in the steel market due to weak
purchasing power, surplus supply, and fierce competition between domestic
steel products and cheaper imported products from
Ho Chi Minh Stock
Exchange (HoSE)-listed Pomina Steel Corporation (POM), which has 16 per cent
market share, reported losses of VND5.6 billion ($266,666) in this year’s
first quarter.
Nam Vang Joint
Stock Company (code NVC) has reported losses since the fourth quarter of 2011
and by March 31 this year it showed accumulated losses of VND364 billion
($17.3 million).
The Tien Len
Corporation (TLH), Vietnam-Italy Steel (VIS), the Nam Kim Group (NKG) and the
Dana Y Steel Company (DNY) all also saw declining profits in this year’s
first three months.
According to Phan
Dung Khanh, investment consultancy director of Maybank Kim Eng Securities,
high inventories and low sales are the major problems steel companies face.
“We think
The Ministry of
Industry and Trade said the country would see the supply of steel products
rise 1.5-1.8 times above the domestic demand next year. Steel firms will have
a total manufacturing capacity of 35.3 million tonnes per year within five
years, while domestic demand looks to only be around 15 million tonnes.
This year the
Vietnam Steel Corporation (VSA) has set the annual production target of
nearly 1.5 million tonnes of billets and 2.6 million tonnes of rolled steel,
representing year-on-year increases of 24.5 per cent and 8 per cent,
respectively.
Binh Duong
grants investment licenses to 41 FDI projects
The southern
According to Mai
Hung Dung, Director of the provincial Department of Planning and Investment,
among the projects, there are 10 from Japan, nine from the Republic of Korea,
five from China, four from Hong Kong and three from Taiwan. Eight licenses
were issued after May 15.
This is a positive
sign for the province as it is one among the three localities most seriously
affected by disturbances which occurred on May 13-14 when some individuals
took advantage of workers' rallies - in protest of China's illegal placement
of its Haiyang Shiyou-981 drilling rig in Viet Nam’s waters - to incite
others to damage and loot assets of some foreign-invested companies and
factories.
Chairman of the
provincial People’s Committee Le Thanh Cung said that after the riots, 98
percent of affected businesses have resumed their operations.
In recent years,
Binh Duong has paid attention to projects and services with the application
of advanced technologies in order to make high-quality and competitive
products for both domestic and international markets, he said. The province
pledges to continue facilitating the investment and operation of FDI
companies and effectively implementing administrative reform, he added.
In the first five
months of 2014, the locality attracted US$978.4 million in foreign direct
investment, up 14.9 percent from the same period last year.
The HCMC government
has written to the Ministry of Planning and Investment seeking approval to
add some of its major infrastructure developments to the list of projects
financed by preferential loans from the Asian Development Bank (ADB) in
2015-2017. The city has put the funding for these projects at more than
US$1.2 billion.
According to the
document sent to the ministry, the city suggests ADB finance the first phase
of Metro Line No.5 from Bay Hien Intersection in Tan Binh District to
The city also seeks
ADB’s loans for a sustainable urban and transport development project worth
some US$50 million for Metro Line No. 5 and a downtown station at Ben Thanh
Market costing around US$200 million.
The HCMC government
wants the bank to finance completing Belt Road 2 with a total cost of US$260
million. This road comprises the sections from the Eastern belt road to Binh
Thai Intersection in Thu Duc District at US$77 million, from Binh Thai
Intersection to Linh Dong Crossroad at US$22 million, from Linh Dong to Go Dua
in Thu Duc at US$72 million, from An Lap Intersection to Nguyen Van Linh
Boulevard at US$88 million.
The city government
also suggests ADB fund a US$107-million project to reduce water leaks in zone
3, consider loans for a US$61-million project to process sludge discharged
from water treatment facilities in HCMC and repairing a D2000 water pipeline
at US$20 million, and water supply projects along Nguyen Cuu Phu and Au Co
streets at US$57 million.
HCMC is now in dire
need of loans for infrastructure development as the city needs US$3-4 billion
for this field every year while its budget can cover some VND10 trillion
(around US$500 million).
Experts calculate a
metro line requires total investment of at least US$1.5 billion.
Currently, HCMC is
seeking investors to carry out infrastructure projects via
build-operate-transfer (BOT), build-transfer (BT) and public-private
partnership (PPP) formats. However, the city has found it hard to implement
these investment formats as difficulties have arisen over refunding for BOT
investors, a lack of available land for BT developers and an unclear legal
framework for PPP investment activity.
This is why HCMC
still has to count on loans of international credit institutions, including
the World Bank and ADB to finance its infrastructure projects.
G-bond
sales hit VND15.7 trillion in May
The Hanoi Stock
Exchange (HNX) organized 19 government bond auctions in May with VND15.7
trillion raised.
Of the total
number, the State Treasury posted VND15.5 trillion while the Vietnam Bank for
Social Policies raised VND200 billion, according to a report released by HNX.
HNX said the G-bond
volume sold on the primary market last month increased 19% against the
previous month. Coupons of the two-year tenor range from 5.58% to 5.7% per
annum, three-year tenor at 6.07-6.2% per annum, five-year tenor at 7.1-7.6%
per annum and 10-year tenor at 8.7% per annum.
In general, coupons
of the three- and five-year tenors dropped against April while those of
two-year and 10-year debt papers remained unchanged, the report said.
Notably, the State
Treasury raised VND96.7 trillion from G-bond issues in the first five months
of this year, equivalent to that mobilized in all of 2013.
On the secondary
market, there were 369 million G-bonds traded with a total value of VND39.2
trillion. Most transactions focused on bonds with the remaining tenors of 12
months, two, three and five years.
For the repo
method, there were 191 million G-bonds worth over VND19.4 trillion changing
hands.
Foreigners bought
VND8.1 trillion while selling VND11.6 trillion worth of G-bonds given the
normal trading mode. Those of the repo mode were VND633 billion and VND447
billion respectively.
For the secondary
Treasury bill market, there were 4.7 million bills worth over VND457 billion
traded in normal mode and two million bills worth over VND190 billion traded
in repo method last month.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Sáu, 6 tháng 6, 2014
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