Fisheries association aims to connect with fishermen

To establish a direct link between fishermen and associations of aquatic farmers and processors nationwide, is the main objective of the Vietnam Fisheries Association (VFA)'s development strategy for the 2006-2010 period.

VFA President Nguyen Huu Khanh said at the association's second conference in Hanoi on Jan. 6, that, to this end, the association will work to establish 35 chapters with 50,000 members nationwide by 2010. The VFA currently has 29 chapters with 27,000 members.

Deputy Fisheries Minister Nguyen Viet Thang said the association should strive to build a close cooperation among its chapters as well as with processing businesses in order to ensure materials supply for processing, thus boosting exports.

(CPV/VNA)

Pooling all resources to achieve economic growth rate of 8.5 percent

Prime Minister Nguyen Tan Dung emphasised the need to successfully implement the three major tasks of achieving an economic growth rate of 8.5 percent, reinforcing administrative reform and combating corruption and wastefulness in 2007.

A conference was held in Hanoi on January 8 to implement State budget plans for 2007 which drew the participation of Prime Minster Nguyen Tan Dung and deputy Prime Ministers Nguyen Sinh Hung and Truong Vinh Trong.

Opening the conference, PM Dung highlighted the remarkable achievements in socio-economic development recorded in 2006.

Delegates to conference heard a report from Minister of Planning and Investment Vo Hong Phuc on the implementation of the plan for socio-economic development and the State Budge for 2006 and implementation solutions for 2007. Trade Minister Truong Dinh Tuyen briefed them on a number of major guidelines and policies to help the national economy maintain its fast and sustainable development after Vietnam’s entry into the World Trade Organisation (WTO).

Minister of the Interior Do Quang Trung reviewed administrative reform programs and set tasks for 2007 while Chief Government Inspector Tran Van Truyen reported on the government’s action program on implementing the Anti-Corruption Law.

Minster of Planning and Investment Phuc said in 2007, the focus will be on seven key solutions for perfecting mechanisms of the market economy, improving the investment environment, raising the operation efficiency of the State apparatus, practicing thrift and combating wastefulness.

Minister of the Interior Do Quang Trung underscored the need to enhance administrative reform by effectively handling bureaucracy, ironing out snags in people and enterprises’ activities and removing unnecessary sub-licenses used by ministries and sectors at the central level.

Many delegates said it is essential to build a central anti-corruption agency and issue documents on implementing the Anti-Corruption Law and dealing with leaders of agencies involved in corruption. They also proposed some measures to coordinate with the Government in boosting production and business activities, reinforce administrative reform and combat corruption in the most effective way.

The conference will close on January 9.

(CPV/VOV)

HCM City stock exchange ups ante

HCM CITY — Onlycompanies with at least VND80 billion (US$5 million) in authorised capital will
be allowed to list in HCM City.

State Securities Commission Chairman Vu Bang told reporters on the sidelines of a Listed Company Club and investors’ meeting last Saturday in HCM City that a draft decree to guide the Securities Law had been submitted to the Government.

Under the decree, expected to be approved early next year, companies already listed but with less than
VND80 billion equity would have two years to increase their capital failing which they would be moved to the Ha Noi exchange.

Bang said the HCM City bourse would target major institutions in industries like banking, insurance,
and telecom.

FPT lists this week

The Vietnamese markets moved erratically during the past week but with more ups than downs, propelled
by the impending listing of several blue chips.

The VN Index closed almost 65 points higher at 696.12 even though two out of the three trading sessions
last Friday were cancelled due to technical problems at the HCM City Securities Trading Centre.

The Corporation for Financing and Promoting Technology (FPT) will list in HCM City on Wednesday.

FPT is a market leader in systems integration, mobile phone distribution, software production, and telecom
and internet services. It recently opened a software engineering university.

Big names like Intel Capital and Texas Pacific Group have invested US$36.5 million in FPT, whose
equity capital now stands at over VND608 billion ($38 million). Its shares were traded unofficially at 20 times their face value.

It will be followed the next day by Thu Duc Housing Development Corporation (TDH). With capital of
VND170 billion ($10.6 million) it will be the first property company to list. It is owned by various institutional and individual investors including major companies like the HCM City Securities Company, Saigon Securities Inc, Amersham Industries Ltd, and Vietnam Dragon Fund Ltd.

The Hong Kong and Shanghai Banking Corp rates TDH as one of Viet Nam’s top 15 blue chip companies.

The 16-year-old joint-stock company has invested in more than 30 housing projects including An Phu and Binh An, and has eight others under construction, including Cantavil and Hiep Phu.

It is also a major financial investor with VND250 billion ($15.6 million) in Phuoc Long Textile Joint Stock Co., HCM City Housing Development Bank, and Prudential Balanced Investment Fund 1. Its chairman, Le Chi Hieu, said the company would begin to offer new services like property management and brokerage.

It made a profit of VND38 billion ($2.7 million) last year and VND40 billion in the first three quarters
this year.

Securities firm to debut

Saigon Securities (SSI), among Viet Nam’s first securities companies, will this Friday become the first
company from the industry to list on the Ha Noi Securities Trading Centre.

SSI has an equity of VND500 billion ($31.25 million) and total assets of over VND2.5 trillion ($156.25 million).

It services over two-thirds of all foreign stock market investors and consulted for 17 major companies listed in HCM City.

It expects net profits this year of VND148 billion ($9.25 million) and VND302 billion next year, and to
pay annual dividends of 30 per cent until 2009. — VNS

see details: VietNam News

VN joins world diabetes group

HA NOI — Viet Nam was admitted to membership in the World Diabetes Association earlier this month, according to Prof Ta Van Binh, director of the National Hospital of Endocrinology.

Type 2 diabetes, which accounts for 95 per cent of total diabetic cases, was on the rise, said Binh.

According to statistics of the National Diabetes Prevention Project, the diabetes rate was about 2.7 per cent nationwide in 2002. The rate was higher in major urban centres like Ha Noi, HCM City and Da Nang.

At the 19th Congress of the World Diabetes Association in Capetown, South Africa, on December 4, the association announced that using Avandia at the onset of diabetes brings positive results in Type 2 diabetes patients, said Binh.

However, the cost of Avandia treatments is high, at US$ 60 per month, placing it beyond the reach of the poor in Viet Nam. — VNS

Viet Nam News

Ho Chi Minh City Securities Trading Center

Ho Chi Minh City Securities Trading Center (HSTC) in Ho Chi Minh City, Vietnam was established in July 2000. It is an administrative agency of the Vietnam State Securities Commission, and manages Vietnam's securities trading systems.

The Stock Trading Center of Vietnam (‘STC’), located in Ho Chi Minh City, was officially inaugurated on July 20, 2000, and trading commenced on July 28, 2000. Initially, two equity issues were listed, Refrigeration Electrical Engineering Joint Stock Corporation (‘REE’) and Saigon Cable and Telecommunication Material Joint Stock Company (‘SACOM’). As of this date, an additional 20 issues are also listed with a current market capitalization of US$239m.

The Stock Trading Center of Vietnam is also the official mechanism through which new government bonds are issued, and it functions as the secondary market for a number of existing bond issues. As of this date there are 120 listed bonds with a total market capitalization of US$866m. All securities traded on the Stock Trading Center of Vietnam are denominated in Vietnamese Dong. Par valued is standardized at VND10,000 for equities and VND100,000 for bonds. Trading is conducted daily with two matchings in a morning session, from 9A.M. to 11A.M.

The State Securities Commission (‘SSC’), a body established formally in 1996, is responsible for capital markets development, licensing of participants, and the issue and enforcement of regulations. A wide range of regulations, with significant input from multilateral bodies such as the International Finance Corporation, have been promulgated, including those dealing with such issues as insider trading, take-over trigger points and margin lending. In order to be listed, a company must have been profitable for at least 2 years, have a minimum capitalization of VND5b (approximately US$318,000), and have at least 50 shareholders who are not employees of the company, holding at least 20% of stake. Foreign invested joint venture companies are technically qualified to list, but in order to do so, they must be reorganized into joint stock company status. Companies intending to list must also submit to audit by an approved, independent auditing company.

In the beginning, an overall foreign ownership limit of 20% for equities and 40% for bonds were implemented. In July 2003, in a bid to improve liquidity, the government raised the foreign ownership limit for equities to 30% and totally removed foreign ownership limit of a particular issuer’s bonds. Foreign participants on the Stock Trading Center of Vietnam must register through a custodian licensed to hold securities on behalf of foreigners. Once registered, a securities transaction code is issued to the foreign investor that will permit securities trading.

The mechanism of trading on the Stock Trading Center of Vietnam is via an automated order-matching system. The capacity of the system is 300,000 orders per day. Currently, trading limits of 5% (for bonds and equities) either side of the previous close apply. No price restrictions have been set for newly listed securities but price caps were applied in the case of the very first day of the market’s operations.

Settlement is centralized through the Stock Trading Center of Vietnam using the Bank of Investment and Development of Vietnam (BIDV), a state-owned commercial bank. Several other domestic banks and securities companies have been authorized to accept custody of securities, with HSBC’s and Deutsche bank’s Ho Chi Minh City branches currently the only banks providing custody services for foreign investors. Custody is based on a central depository, central registry book entry system.

Presently, there are thirteen licensed securities companies. Of these, nine have been licensed to conduct a full range of securities services including underwriting, brokerage, custody, research, portfolio management and trading. The minimum capital required to operate effectively as an investment bank is VND43b (c. US$2.7m).

The current market capitalization is now US$239m for equities and US$866m for government bonds.

Official Website

http://www.vse.org.vn

See also

• Hanoi Securities Trading Center
  

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List of Vietnamese companies - Stock Exchange

Stock Exchange

This is a list of companies that are listed on the Ho Chi Minh City Securities Trading Center and Hanoi Securities Trading Center.

A

• ACB: Asia Commercial Bank (aka ‘ACB’)



• AGF: An Giang Fisheries Import & Export Joint Stock Company (aka ‘Agifish Co.’)


• ALT: ALTA Company


• Advertising Company-

XPR CAMPAIGNS_ Marketing and Communication

B

• BBC: Bien Hoa Confectionery Corporation (aka ‘Bibica’)


• BBS: But Son Cement Packing Joint Stock Company


• BBT: Bach Tuyet Cotton Corporation


• BMP: Binh Minh Plastic Joint Stock Company


• BPC: Bim Son Packaging Joint Stock Company


• BT6: Chau Thoi Concrete Corporation No.620 (aka 620 – CCC)


• BTC: Binh Trieu Construction And Engineering Joint Stock Company
  

C

• CAN: Halong Canned Food Corporation (aka ‘Canfoco’)


• CID: Construction & Infrastructure Development Joint Stock Company


• CII: Hochiminh City Infrastructure Investment Joint Stock Company


• COM: Comeco Joint Stock Company



• CTB: Hai Duong Pump Manufacturing Joint Stock Company


• CYC: Chang Yih Ceramic Joint Stock Company


• CLC: Cat Loi Joint Stock Company
  

D

• DAC: Dong Anh Ceramic Joint Stock Company



• DCT: Dong Nai Roofsheets and Construction Materials Joint Stock Company (aka ‘Donac’)


• DHA: Hoa An Joint Stock Company


• DPC: Da Nang Plastic Joint Stock Company


• DXP: Doan Xa Port Joint Stock Company

F

• FMC: Sao Ta Foods Joint Stock Company (aka ‘Fimex VN’)


• FPC: Full Power Joint Stock Company

G

• GHA: Hai Au Paper Joint Stock Company


• GIL: Binh Thanh Import Export, Production And Trade Joint Stock Company (aka ‘Gilimex’)


• GMD: General Forwarding & Agency Corporation (aka ‘Gemadept’)


• G7 Mart: G7 Trading & Service Company Limited.,

H

• HAP: Hai Phong Paper Joint Stock Company (aka ‘Hapaco’)


• HAS: Hanoi P&T Construction & Installation Joint Stock Company (aka ‘Hacisco’)


• HSC: Hacinco Joint Stock Company


• HTV: Hatien Transport Joint Stock Company (aka ‘Hatien Transco’)

I

• IFS: Interfood Shareholding Company


• ILC: International Labour & Services Joint Stock Company (aka ‘Inlaco Hai Phong’)


• ITA: Tan Tao Industrial Park Corporation (aka ‘Itaco’)

K

• KDC: Kinh Do Corporation


• KHA: Khanh Hoi Import Export Joint Stock Company (aka ‘Khahomex’)


• KHP: Khanh Hoa Electric Power Joint Stock Company

L

• LAF: Long An Food Processing Export Joint Stock Company (aka ‘Lafooco’)

M

• MHC: Hanoi Maritime Holding Company (aka ‘Marina Hanoi’)

N

• NHC: Nhi Hiep Brick-Tile Joint Stock Company (aka ‘Brico’)


• NKD: North Kinh Do Food Joint Stock Company

P

• PMS: Petroleum Mechanical Stock Company


• PNC: Phuong Nam Cultural Joint Stock Corporation


• PPC: Pha Lai Thermal Power Joint Stock Company


• Petrolimex Gas Joint Stock Company

R

• REE: Refrigeration Electrical Engineering Corporation (REE Corp.)


• RHC: Ry Ninh II Hydroelectric Joint Stock Company

S

• SAM: Cables And Telecom Materials Joint Stock Company (aka ‘Sacom’)


• SAV: Import Export & Economic Cooperation Joint Stock Company (aka ‘Savimex’)


• SFC: Saigon Fuel Company


• SGC: SaGiang Import Export Corporation (aka ‘Sagimexco Đồng Tháp’)


• SGH: Saigon Hotel Corporation


• SHC: Saigon Maritime Joint Stock Company


• SJS: Song Da Urban & Industrial Zone Investment and Development Joint Stock Company (aka ‘Sudico’)



• SMC: SMC Trading-Investment Joint Stock Company


• SSC: Southern Seed Joint Stock Company


• STB: Sai Gon Thuong Tin Commercial Joint Stock Bank (aka ‘Sacombank’)


• STP: Song Da Packaging Joint Stock Company

T

• TBC: Thac Ba Hydroelectric Joint Stock Company


• TKU: Tung Kuang Industry Joint Stock Company


• TMS: Trans-Forwarding And Warehousing Corporation (aka ‘Transimex’)


• TNA: Thien Nam Trading Import Export Corporation (aka ‘Tenimex’)


• TRI: Sai Gon Beverages Joint Stock Company (aka ‘Tribeco’)


• TS4: Sea Food Joint Stock Company No. 4 (aka ‘Seapriexco No. 4’)


• TTC: Thanh Thanh Ceramic Joint Stock Company


• TYA: Taya (Vietnam) Electric Wire and Cable Joint Stock Company


• TNC: Trung Nguyen Corporation

U

• UNI: Vien Lien Joint Stock Company (aka ‘Unico’)

V

• VFC: VINAFCO Corporation


• VFMVF1: Vietnam Securities Investment Fund


• VNM: Vietnam Dairy Products Joint Stock Company (aka ‘Vinamilk’)


• VNR: Vietnam National Reinsurance Corporation (aka ‘Vinare’)


• VSH: Vinh Son - Song Hinh Hydroelectric Joint Stock Company


• VTC: VTC Telecommunications Joint Stock Company


• VTL: Thang Long Joint Stock Company



• VTS: Tu Son Viglacera Ceramic Joint Stock Company


• VGG: Vietnam Global Gateway

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