Việt Nam News

After the third-quarter earnings season ends, the Vietnamese stock market may face a correction phase in November as investors try to realise their profits amid expected global market volatility due to the US presidential election.

Transportation and Industry Development Investment JSC (Tracodi), a subsidiary of Bamboo Capital Group (BCG), received the Prime Minister’s Certificate of Merit for its achievements and contributions to the country’s socio-economic development at a ceremony it held last week to mark its 30th anniversary in HCM City.

Eighty per cent of enterprises had maintained their business to the end of the third quarter of 2020 despite the second wave of COVID-19, though many had to implement salary reductions.

Vietjet’s business results in the third quarter of 2020 can be seen as one of few bright spots on the global aviation map darkened by the COVID-19 pandemic.

The consumer price index (CPI) rose 0.09 per cent in October against the previous month and 2.47 per cent year-on-year, the slowest growth rates in 2016-2020, according to the General Statistics Office (GSO).

Việt Nam’s biggest brewer Sài Gòn Beer-Alcohol-Beverage JSC (Sabeco) reported revenue down 17 per cent and post-tax profit up 1 per cent in the third quarter of this year.

A programme to improve vegetable and fruit processing is set to be submitted to the Government for approval, focusing on both growing zones and processing facilities.

About 30,000 e-commerce stores were taken down in the first nine months of this year due to trade fraud, counterfeit and contraband goods, and the scale of the problem is looking daunting.

The State Bank of Việt Nam is drafting a circular regarding cashless payments which might allow domestic commercial banks and domestic intermediary payment companies to co-operate with foreign intermediary payment companies to provide international payment services.

The International Finance Corporation (IFC) recently announced its co-operation with An Phát Holdings (APH) and an expected investment of US$20 million to fund APH’s first compostable material manufacturing plant in Việt Nam and the largest of its kind in Southeast Asia.

Korea’s LG Electronics and Trung Nam Land JSC inked an agreement on October 30 with a vision to transform Đà Nẵng into the centre of technology and R&D in Việt Nam, creating a mini 'Silicon Valley'.

Prime Minister Nguyễn Xuân Phúc asked the entire political system to speed up the economic recovery in order to gain a growth rate of 2.5-3 per cent this year.

Vietnamese shares picked up in the last minutes of trading on Friday, driven by Vingroup JSC following the strong profit growth reported for the third quarter.

Masan Group Corporation (MSN) achieved double-digit growth in revenues and operating profits across its consumer-related business segments in the first nine months of the year.

Rakuten Viber has announced its expansion into fintech with the proposed launch of a new chatbot payments feature with which users can pay using Google Pay and other mobile wallets.

The third Agro-Forestry-Fishery Farming and Processing Technology Exhibition and Tân Bình Promotion Fair opened at the Tân Bình District Cultural and Sports Centre in HCM City on October 30.

Southeast Asia Commercial Joint Stock Bank (SeABank - Vietnam) was honoured to receive the Vietnam Digital Awards 2020 in the category 'Great Digital Transformation Enterprise' by the Vietnam Digital Communication Association (VDCA). SeABank has also been honoured by Silicon Review Magazine as among the 'Top 30 Best Tech Companies in Asia 2020'.

The HCM City Development Joint Stock Commercial Bank (HDBank, HOSE: HDB) reported pre-tax profits of VNĐ3.615 trillion (US$155.5 million) for the first nine months of the year, a year-on-year increase of 31.9 per cent and equivalent to 107 per cent of the target.