return icon Vietnamnet.vn

Billions of dollars from foreigners invested in Vietnam’s enterprises

Foreign capital keeps flowing into Vietnam through many different channels, helping investors regain their confidence in the stock market and the economy.

The stock market on November 29 saw strong selling pressure with the VN Index at times falling after climbing to the 1,000-point threshold in the previous trading session.

However, cash flow into the market was high, with many shares bought by foreign investors. On November 29, foreign investors bought more than VND2.6 trillion, mostly blue-chips. Closing the trading session, the VN Index rose by 26.47 points to 1,032.16 points.

Foreign investors’ net purchases were VND14 trillion from the beginning of November, which raised the total amount of new purchases to VND12 trillion in the first 11 months of the year.

The foreign capital inflow into Vietnam is occurring amid share prices falling to a 2-year bottom level with the VN Index sometimes dropping to 873 points (November 16 morning).

At the November 29 session, foreign investors bought more than 20 million PhatDat shares (PDR) after PDR prices dropped to floor prices for 18 trading sessions and lost 70 percent of value.

Recently, when prices fell sharply, Dragon Capital increased its ownership ratio in many shares, including Vinh Hoan Seafood (VHC), Ha Do (HDG) and FPT Retail (FRT).

South Korea’s KIM Vietnam Fund also has a huge asset value of nearly $1 billion.

Huynh Minh Tuan, the founder of FIDT, said foreign capital keeps flowing into Vietnam. A fund from Taiwan (China) – Fubon FTSE Vietnam, ETF – has received approval from Taiwanese agencies for the fourth capital mobilization of $160 million (VND4 trillion). This will be an important source of foreign capital to support the stock market in the first half of December.

As of November 28, the net asset value of Fubon ETF had reached $570 million, mostly in Vingroup, Vietcombank, SSI, Novaland and Vietjet.

The FDI situation is relatively positive with newly registered capital in the first 11 months of the year reaching $25.1 billion.

While many businesses complain they cannot borrow capital for production, others say they can seek foreign capital.

Manh Ha

MORE NEWS

FDI hoped to help realty market develop sustainably in long term

Vietnam’s real estate sector last year attracted an additional 1.85 billion USD in foreign direct investment (FDI), retaining its second place among industries drawing FDI with combined investment of 4.45 billion USD.

Party chief’s book on fight against corruption and negative phenomena released

A ceremony was held in Hanoi on February 2 to release the book by General Secretary of the Communist Party of Vietnam (CPV) Nguyen Phu Trong.

Make in Vietnam drives ICT firms into international markets

Global expansion has become a trend in domestic ICT enterprises in recent years.

Schools launch digital-related majors to meet students’ needs

In 2023, many universities have launched new subjects associated with the digital era to meet students’ needs.

Southeast region prepares for new FDI wave

The southeast region is preparing conditions in infrastructure, administrative procedures and human resources to welcome a new wave of foreign direct investment (FDI), as investors have flocked to the region from the beginning of this year.

VIETNAM NEWS HEADLINES FEBRUARY 2/2023

PM chairs monthly teleconference with localities

Experts call for stricter penalties as drink driving soars over Tet

The maximum punishment for car drivers with alcohol concentration levels exceeding 0.4mg per litre of breath, or 80mg in 100 ml of blood, is a fine of VND40 million (US$1,693) and a two-year suspension of their driving licences.

Over 32% of apparel firms remain closed in Hanoi

Nearly a third of textile and garment firms have yet to reopen in Hanoi although the Lunar New Year holiday has ended.

Domestic tourism hits five-year high

Domestic tourism numbers hit 13 million in January, the highest in the last five years, according to the Vietnam National Administration of Tourism.

VIETNAM BUSINESS NEWS FEBRUARY 2/2023

Businesses exporting medicinal herbs to China required to register

Cashless payments on the rise: convenience and security for expats in Vietnam

As digital payment methods surge in popularity, expats in Vietnam are not alone in embracing the change to cashless transactions.

My Dinh Stadium needs money for more upgrading

Having been upgraded with a package worth VND408 billion, My Dinh Stadium is still in poor condition.

Vietnam needs more submarine cables to ensure internet services

Vietnam will need at least two or three more submarine cables to ensure proper internet services for the country's development in the next five years, according to Vu The Binh, Secretary-General of the Vietnam Internet Association.

Government convenes January meeting

The Government convened its first regular monthly meeting for 2023 in Ha Noi on Thursday under the chair of Prime Minister Pham Minh Chinh.

Scammers steal information, money on first days of Year of the Cat

The first days of the New Year are the time for scammers to increase their activities. The most common tricks are stealing information and money from victims’ accounts.
back_to_top