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Stock market to jump up in first half of 2011, experts predict

In Uncategorized on January 8, 2011 at 4:26 am

Vietnam’s stock market will roar back in the first half of the year on the US’s bullish market, financial experts expect.

(Photo:Minh Tri)

The stock market in Vietnam last year were effected by many macroeconomic factors, while nearby markets including Singapore, Indonesia and Thailand were boosted by the US’s financial bailouts, said M.A. Le Dat Chi, head of the financial investment faculty of the University of Economics Ho Chi Minh City.

“A part of the US$600 billion bailout of the US flew into Asian markets, especially emerging ones. It was just a small proportion for the US market, but it did make big impact to emerging markets, except of Vietnam,” Tri said.

Only investors holding control stake in listed enterprises made profits from dividends as the VN-Index dropped to 430 points in the last quarter of last year, with many shares slumping to incredible levels, he said.

“Vietnam’s stock market is at the bottom, with the ratio of dividends per share equal to 15 percent. This rate is extremely attractive to some investment funds,” the economist said.

“Besides, investors’ confidence in a successful Eleventh Party Congress with new members elected into the central committee will boost the market sentiment. Foreign investments will flow stronger into the stock market, which hit the bottom. Therefore, the market will likely to roar back in 2011.”

Statistics showed nearly the foreign indirect investments (FII) pour into the stock market last year reached $1 billion. Stabilizing the foreign exchange rate should be the top priority this year to attract more FII, Tri noticed.

The financial expert also recommended that more adequate taxes on shares will attract more foreign investors.

“Instead of asking foreigners either to pay security before entering the market or not to sell shares in at least one year, we can impose taxes on the dividend from their share investments,” he suggested

Stock market analysts also predict the market will likely to recover strongly in the first half of the year on the increase of the US market.

“The US dollar getting weaker in the first half of 2011 will be good news for the country’s stock market. However, it will be stronger again in the last half. The market’s winning run will likely to last until June, with Dow Jones Index climbing 12,600 points,”  Tri said.

Statistics showed the stock market usually climbs up in March, April and December every year.

However, the market is still carrying some risks including the US dollar getting stronger constantly, warned Pham Xuan Anh, deputy head of the brokerage BIDV-BSC’s market analysis unit.

“Standard Chartered Bank expected the foreign exchange of Vietnam dong and dollar will reach VND20,800 per dollar at the end of the year, a year-on-year increase of around 6.6 percent,” said Tri.

“The Asia Development Bank last September predicted Vietnam’s inflation in 2010 would rise to 7.5 percent, caused by a weakening dong and an increase in food prices.”

Low foreign currency reserve and large amounts of dollar and gold owned by residents would put the central bank in difficult time, Tri added.

Source: SGGP

Tour prices to jump ahead of lunar new year

In Uncategorized on December 16, 2010 at 9:37 am

Tour prices to jump ahead of lunar new year

QĐND – Wednesday, December 15, 2010, 21:6 (GMT+7)

 The price of Tet or Lunar New Year tours are set to jump by up to 10 percent, forecast tour operators.

The operators attribute the prospective increases to growing demand and likely higher transport and accommodation costs.

The length of the break – seven days – and the arrival of overseas Vietnamese and international visitors are the major reasons for higher price, explained Vietravel Communication Department director Nguyen Minh Man.

“Customers for the 2011 Lunar New Year – from February 1 – will increase by 30 percent,” Man said.

“High demand will see accommodation and transport costs soar, so tour prices will jump by 7-10 percent”, he added.

A representative of the Lua Viet Tours Company agreed that tour prices will increase by Tet holiday because of higher air travel costs.

The company says the prices for air tickets out of Vietnam have increased between 50 USD and 150 USD.

Despite higher costs, tour operators are trying to keep prices down.

“More expensive air tickets are beyond our control. However, we’ve still managed to keep our tour prices low to avoid sudden changes in price,” said Man.

Outbound tours to Hong Kong (China), mainland China, the Republic of Korea and Japan remain favourite destinations.

Tours to neighbouring countries remain popular due to their price of just 10 million VND (476 USD). Moreover, these tours have not been affected by the dong’s devaluation, said Director of Lua Viet Travel Company Nguyen Van My.

The Vietnam Railway Corporation is set to increase its prices by 20-25 percent on peak days over the Lunar New Year Festival.

Source: VNA/ Photo: Vneconomy

Source: QDND

Tourists numbers jump during holiday

In Uncategorized on May 4, 2010 at 4:31 pm

Tourists numbers jump during holiday

QĐND – Tuesday, May 04, 2010, 21:7 (GMT+7)

The number of visitors attracted to popular and well known Vietnamese tourist spots rose sharply during the Liberation Day holiday period, from April 30 to May 3.

Around 500,000 tourists flocked to Ha Long Bay, a world natural heritage, to attend the 2010 Ha Long Tourism Festival (Carnival Ha Long), resulting in hotels, restaurants and tourist services becoming overloaded. The average price of accommodation increased by as much as two or five times, with some even ten times more expensive, compared to normal.

More than 500 boats that service the tourist trade in Ha Long Bay ran at full capacity, carrying almost 5,000 visitors per day.

It was a similar scenario in Sa Pa in the northern mountainous province of Lao Cai , where around 15,000 tourists made the journey to enjoy the 2010 “In the Clouds” Festival.

According to the Culture and Eco-Tourism Centre at Phong Nha-Ke Bang National Park, the number of visitors to the Phong Nha-Ke Bang caves in the central province of Quang Binh reached over 19,000, a record figure for the park since it opened.

Lao Bao and Khe Sanh, two new destinations in the central province of Quang Tri , also attracted nearly 50,000 tourists over the April 30-May 1 holiday. Everyday, between 5,000 and 6,000 people from across the country and Laos and Thailand visited the areas to go sightseeing at the former US war battlefield as well as to shop at border trade centres.

The central province of Quang Nam , which is home to two world cultural heritages, Hoi An Ancient Town and the My Son Sanctuary, saw a sudden rise in the number of visitors with more than 3,000 rooms in 82 hotels and guesthouses being booked weeks in advance.

Other destinations such as Sam Son in Thanh Hoa province, Cua Lo in Nghe An province and the ancient capital of Hue also received their largest-ever number of tourists over the four-day holiday period.

Source: VNA

Source: QDND