Ho chi minh city

With key financial reforms, Ho Chi Minh City could follow Tokyo, Shanghai, Mumbai, according to Donald Lambert, Principal Private Sector Development Specialist at the Asian Development Bank (ADB)'s Southeast Asia Department. A corner of HCM City. Photo by Vneconomy Lambert said Ho Chi Minh City together with a growing list of cities from Colombo to Kuala Lumpur could become international intermediators of capital and should look to Dubai as the model. "In the 2000s, Dubai emerged as a global financial centre. The impact has been considerable. At the turn of the millennium, the United Arab Emirates had a GDP of USD104 billion. By 2018, its economy had not only quadrupled in size but had become less dependent on oil with financial services a major driver of the growth," he explained. Lambert advised that the better approach for most countries, including Vietnam, is to first focus on becoming a national financial centre. "Vietnam has huge investment needs," he noted. "For … [Read more...] about Expert suggests four ways to help transform Ho Chi Minh City into a financial hub

Vehicles travel on the Hanoi Highway in HCM City, one of the major infrastructure projects involving HCM City Infrastructure Investment JSC. (Photo: cafef.vn) HCM City (VNS/VNA) - The Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) wants to offload 35.3 million treasury shares for at least 32,650 VND (1.40 USD) per share. The company expects to receive at least 1.15 trillion VND (49.5 million USD) from the deal. CII shares are listed on the Ho Chi Minh Stock Exchange (HoSE: CII) and dropped 1.2 percent to 20,050 VND per share on August 27. The company bought treasury shares to help cushion its share price on the stock market. According to the firm’s first-half financial report, the 35.5 million treasury shares are equal to 12 percent of the company’s charter capital. Those shares were previously bought for 21,100 VND per share, making the total value 852 billion VND. In the last two months, CII has raised 1 trillion VND by issuing bonds. The … [Read more...] about HCM City infrastructure firm to sell treasury shares

A representative of the Hung Vuong Hospital receives the certificate of merit (Photo: VNA)   HCM City (VNA) – The Maternal and Child Health Department under the Ministry of Health and the Alive and Thrive Programme on November 20 presented the certificate of hospital with excellent breastfeeding practice to Hung Vuong Hospital in Ho Chi Minh City. This is the fifth in Vietnam and the first in HCM City to receive the certificate, which recognises the facilities’ efforts in practicing the process of early care for newborn and supporting breastfeeding activities. According to Doctor Hoang Thi Diem Tuyet, Director of Hung Vuong Hospital, in face of the low rate of breastfeeding mothers due to their inadequate knowledge of the practice, the hospital has pioneered in giving consultations to mothers on its benefit and supporting them in the field, thus changing their awareness and helping them with breastfeeding in the hospital and at home. In the first three quarters of … [Read more...] about First hospital in HCM City meets breastfeeding practice standards

Illustrative image (Source: HOSE) HCM City (VNA) — The Ho Chi Minh Stock Exchange (HOSE) has introduced three new stock indices developed based on the investment requirements of local funds. They are the Vietnam Leading Financial Index or VNFIN Lead, Vietnam Financial Select Sector Index or VNFIN Select and Vietnam Diamond Index or VN Diamond. The first two are based on HOSE's VNAllshare Financials Index and the condition that each stock’s market capitalisation ratio will not exceed 15 percent of the index. VNFIN Lead includes at least 10 constituent securities. Any company added to it must have at least 10 billion VND (431,716 USD) worth of daily trading and a minimum turnover ratio of 0.1 percent. The VNFIN Select Index, with at least 17 constituent securities, requires constituent stocks to have a minimum market cap of 500 billion VND (21.59 million USD) and minimum trading value per session of 1 billion VND. To be included in the VN Diamond Index, stocks must meet … [Read more...] about HCM Stock Exchange unveils three new indices

Philippe Le Houérou - Chief Executive Officer of IFC speaks at the event (Source: VNA) HCM City (VNA) - The set of Principles of Best Corporate Governance for all public companies in Vietnam was publicised by the State Securities Commission of Vietnam (SSC) at the Ho Chi Minh Stock Exchange (HOSE) on August 13. The principles aim to promote the capital market and the sustainable development of the economy. The rules, which were developed with support from the International Finance Organisation (IFC) and the Swiss State Secretariat for Economic Affairs (SECO), make recommendations on best corporate governance practices for all Vietnamese public companies. The set of 10 principles, with detailed recommendations on best principles, centre on addressing priority issues in corporate governance practices. Notably, six out of them focus on operational functions of boards of directors – something many local firms need to improve. The remaining four … [Read more...] about Principles of best corporate governance makes debut