Banking & Finance

Rong Viet Securities has said that although the valuation of the VN-Index has reached an attractive level compared to previously, liquidity being constricted and corporate bond risks are issues that need to be resolved for the stock market to gain recovery momentum.

According to the Ministry of Finance (MoF), domestic and foreign loans by the government totaled more than VND160 trillion ($6.4 billion) in the first ten months of 2022, or 23.8 per cent of the annual plan, of which foreign loans were $184.6 million. The government has also repaid more than VND241 trillion ($9.6 billion), or 71.8 per cent of the plan, of which foreign debt repayments totaled more than VND57 trillion ($2.3 billion), or 60.8 per cent of the plan.

AM Best has assessed that Vietnam’s non-life insurance market has prospects for growth in 2023 from three factors: global economic fluctuations leading to increased demand for insurance; the Law on Insurance Business taking effect from January 1; and insurance gaining in appeal after interest rate hikes by the State Bank of Vietnam (SBV).

The Hanoi Stock Exchange (HNX) held 30 auctions of government bonds in October and mobilized VND31.4 trillion ($1.26 billion) in capital, bringing the total in the first ten months of the year to more than VND151 trillion ($6.08 billion).

Despite unpredictable fluctuations around the world and the trend of cash flows shifting back to developed economies, foreign indirect investment (FII) has not yet left Vietnam’s stock market.

The Ministry of Finance (MoF) has said that collecting information on businesses using trading apps on mobile phones to support investment in financial products is quite difficult. Investors need to carefully research information about mobilizing organizations and ask partners to provide legal documents before making an investment, such as establishment and operational licenses, business lines, and so on. MoF suggested that investors research information on securities companies, fund management companies, and securities investment funds on the website of the State Securities Commission (SSC).