FIVE-MONTH PUBLIC INVESTMENT DISBURSEMENT REACHES NEARLY 27 PER CENT OF TARGET
The disbursement of public investment from the State budget in the first five months of this year was estimated to reach VNĐ190.6 trillion (US$7.44 billion), equal to 26.6 per cent of the yearly target and 5 per cent higher than the same period last year, according to the General Statistics Office (GSO).
STATE CAPITAL DIVESTMENT GAINS MOMENTUM IN VN WITH HIGH-PROFILE DEALS IN FOCUS
The State Capital Investment and Trading Corporation (SCIC) recently unveiled its second-phase divestment list for 2024, which includes prominent businesses like FPT Corporation, Becamex IDC and Tiền Phong Plastic. The announcement generated excitement in the market.
MARKETS SET TO SLIDE AS FOREIGN INVESTORS INCREASE SELLING PRESSURE
Liquidity on the HoSE for the week reached VNĐ109.5 trillion, a significant drop of 20.8 per cent compared to the previous week, remaining above average. This indicates a strong market divergence and balance after a sharp decline over the previous week. Many stocks and group stocks, have been rotating in and out of recovery, with demand increasing at the support level of 1,250 points and improving notably in medium and small-cap stocks.
FDI TO BE EXPANDED WITH GREEN FOCUS
Vietnam is projected to improve its trade and investment flows as global demands increase, with a green trend on the rise in supply chains. At last week’s Asia-Pacific Dialogue event organised by the Association of Chartered Certified Accountants (ACCA) in Hanoi, Vietnam was said to boast great potential in addition to a production and business climate fuelled by rising global demand.
POTENTIAL ROADMAP FOR VIETNAM TO ACHIEVE NET ZERO BY 2050
In its National Strategy on Climate Change, Vietnam has set targets for emissions reduction. The country aims to cut greenhouse gas emissions by 43.5% by 2030, with practical and effective support from the international community. Additionally, Vietnam has established sector-specific emissions targets for both 2030 and 2050, along with qualitative proposals to achieve these goals.
CREDIT INSTITUTIONS URGED TO CUT LENDING RATES BY 1-2%
The State Bank of Viet Nam (SBV) asked all credit institutions including foreign bank branches to reduce lending annual interest rate by 1-2 percent in a bid to facilitate credit access and spur growth. The central bank called on credit institutions to channel capital into traditional growth drivers, emerging industries, green transformation, circular economy, and social housing.
EU INTERESTED IN SUPPORTING VIỆT NAM’S GROWTH AS A SUSTAINABLE PARTNER
The European Union sees Việt Nam as one of its key partners within ASEAN and is working with the Vietnamese Government on a green strategy called Global Gateway, said Myriam Ferran, Deputy Director General at the European Commission Directorate General for International Partnerships.
VN-INDEX INCREASES SLIGHTLY, LIQUIDITY DROPS TO THE LOWEST IN TEN SESSIONS
The market opened the new week on a positive note with many stocks witnessing gains, while liquidity decreased sharply. On the Hồ Chí Minh Stock Exchange (HoSE), the benchmark VN-Index increased by 5.75 points, or 0.46 per cent, to 1,267.68 points. This marked a day of growth following a strong decline on Friday.
