FIDES (VIETNAM) Market Statistics 08/01 – 12/01/2024

FIDES (VIETNAM) Market Statistics 08/01 – 12/01/2024

Market Summary
 ChangeTrading VolumeTrading ValueForeign net buy/sell
 (%)Average daily trading volume (Mil. shares)Average daily trading value (Mil.USD)Net trading value (Mil.USD)

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

Top mua/bán ròng khối ngoại (HOSE & HNX, triệu USD)

Source:: Fiinpro


Economy – Society


  • Standard Chartered Bank forecasted that Vietnam’s 2024 GDP can reach 6.7% in 2024 (6.2% in 1H24 and 6.9% in 2H24) based on the assumption that retail sales and industrial production can maintain solid despite the recent adjustments together with the robust recovery in the trade balance activities can push the economy while the global trade remains to be the main risk. Inflation is forecasted to increase from 3.3% in 2023 to 5.5% in 2024. The refinancing rate is expected to be stable at 4.5% till 3Q24 before a rate hike of 50bps in 4Q24. USD/VND exchange rate is forecasted to reach 24,000 by the end of 2024. (Source: Standard Chartered bank)
  • World Bank forecasts that the world’s GDP growth will decrease to 2.4% in 2024, lower than 2.6% in 2023. Global trade is expected to grow at 50% pace of the pre-Covid decade. Vietnam is forecasted to grow by 5.5% and 6% in 2024 and 2025, respectively. (Source: World Bank)


  • The 29th session of the National Assembly Standing Committee was held from 08 Jan 2024 to 09 Jan 2024.
  • The National Assembly Standing Committee also decided to convene the 5th Extraordinary Session of the 15th National Assembly from 15 Jan 2024 to 18 Jan 2024. Accordingly, the NA will focus on revising the draft Land Law (amended) along with the draft Law on Credit Institutions (amended). Additionally, there will be discussions on the  the midterm Public Investment Plan for the period 2021-2025 and the midterm Public Investment Plan specifically for the EVN. (Source: National Assembly)

Company – Sectors

Banking sector

  • Credit growth as of 31 Dec 2023 has reached 13.71% yoy and the amount of deposit by individuals and economic institutions reached $554.64bn, equivalent to an increase of 14.22% yoy.  (Source: SBV)
  • The SBV issued the Circular 22/2023/TT-NHNN on amendments to the capital adequacy requirements applied to banks, effective from 01 Jul 2024. Key changes:
    • Credit risk weight for loans granting from the receiving bank to the “0-dong” bank: 0%
    • Credit risk weight for loans to industrial park projects: Reduced from 200% to 160%.
    • Credit risk weight for mortgage loans for social housing: Reduced from 20-100% (for the all mortgage loan) to 20-50%.
    • Credit risk weight for personal loans for the purpose of agricultural and rural development: 50%.
    • Addition of international financial institutions to the list of legally valid third-party guarantees to reduce credit risk. (Source: SBV)


  • Brokerage market share of 03 exchanges in 2023 is represented in the table below. (Source: HSX, HNX).
BrokerMarket ShareBrokerMarket ShareBrokerMarket Share
  • There were 39,240 new accounts of individual investors opened in December 2023, bringing the total number of securities accounts at the end of 2023 to 7,292,361 accounts. (Source: VSD)

Real estate

  • HCMC will continue Thu Thiem land auction in 2024. Expected revenue to the State budget is over $91.15mn.


  • EVN announces the purchase price of electricity from rooftop solar power systems in 2024 specifically for rooftop solar power systems that are put into operation to generate electricity and confirm meter readings in the period from:
    • 1 Jun 2017 – 30 Jun 2019: is 2,231 VND/kWh, equivalent to 9.35 UScents/kWh.
    • 1 Jul 2019 – 31 Dec 2020: is 1,999 VND/kWh, equivalent to 8.38 UScents/kWh. (Source: EVN)

Oil and gas

  • Oil prices rose sharply in Asian trade (+2% dod) on 12 Jan 2024 after U.S.-led forces launched airstrikes against the Iran-backed Houthi group in Yemen, ramping up concerns over more disruptions to Middle East supplies.
  • Tensions with Iran and the Houthi attacks saw several shipping operators steer clear from the region, which pointed to potential delays in crude shipments through the Suez Canal.


  • The MOF has just completed the draft Law on VAT- amended. Notably, fertilizer products are expected to be subject to 5% VAT, to remove difficulties for domestic production enterprises and ensure this product can compete with imported fertilizers. (Source: MoF)


  • Vietnam’s fruit and vegetable exports are expected to reach a new record of $6.5-7bn in 2024 (+15-20% yoy). Earlier, the agricultural sector eyed $4.5bn and $5.69bn in export turnover in 2024 and 2025, respectively.
  • 2023 was a successful year of the fruit and vegetable sector as export revenue reached a record high of $5.69 bn (+70% yoy). (Source: Customs)


  • Export volume of Viet Nam’s 5% broken rice rose to a 15-year peak of 8.3 million tons (+14.7% yoy), bringing in total revenue of $4.78bn (+35.7% yoy). Export prices averaged $663/ton. The total rice output in the country reached 43.5 million tonnes (+1.9% yoy).
  • Rice prices still remain high. On 09 Jan 2024,Vietnam’s 5% broken rice price was recorded at $653/ton, equivalent to Thailand’s rice price. (Source: Ministry of Agriculture and Rural Development)


  • Japanese seafood companies plan to start processing Hokkaido scallops in Vietnam from 08 Jan 2024 following China’s recent ban on Japanese seafood imports, and to take advantage of the low labour cost in Vietnam.
    • Under the deal, scallops from Ebisu will be purchased by Ocean Road and exported to Vietnam, where they will be processed and sent back to Japan to be sold to restaurants and retailers by Foodison, Ebisu and Nosui.
    • The first trial batch has already been sent to Vietnam weighing more than 20 tonnes. The seafood companies will consider whether to continue with the deal pending the results of the first batch. (Source: Nikkei Asia)
  • 08 Jan 2024, The Vietnam Association of Seafood Exporters and Producers (VASEP) requested the Import-Export Department to have solutions to support businesses in reducing the huge pressure of high transportation costs.
    • Many shipping companies (Yang Ming Line, One, Evergreen Line, HMM, Maersk…) will collect additional fees due to changing the route on Asia – Europe routes, avoiding passing through the Suez Canal and the Red Sea area.
    • Fares to the West Coast (LA) increased by $800-$1,250 (55-60%). Fares to The East Coast (NY) increase by $1,400-$1,750 (58-73%). Ship freight to the EU recorded a sharp increase compared to December 2023 with the fare to Hamburg has increased nearly 3.5 times. (Source: VASEP)


  • Inventory index of the processing and manufacturing industry increased sharply in 2023 by 20% yoy. Notably, the average inventory ratio of the processing and manufacturing industry in 2023 was 87.5%, higher than the ratio of 78.1% in 2022, indicating headwinds in the industry last year in the context of weak increase if 1% in the industrial production index (last year: +7% yoy). Regardless of the increase in recent months, the hardship in exports (-5.5% yoy) still cause the import production materials and machinery at the end of 2023 to decrease by 8.2% yoy. (Source: MoIT)


  • The first 02 steel companies reported profits after long quarters of losses. Thong Nhat Steel and Vicasa-VNSteel announced 4Q23 profit of $0.11mn (compared to FY22 loss of $0.41mn) and $0.15mn (-35.7% yoy), respectively.
  • The business results of these two enterprises showed that the steel industry has almost passed through its gloomiest time. As steel prices gradually increased recently, steel industry profits have bottomed out in 3Q23 and started to bounce back. (Source: TNS, VCA)


  • December 2023, imported cars of all types reached 6,500 units (-70% yoy) with the total value of $165mn (-62% yoy). In 2023, it is estimated that the total number of imported cars of all types into Vietnam is estimated to be around 117,800 vehicles (-32% yoy) with a total value of over $2.8bn (-27% yoy). On the other hand, the total number of domestically produced cars is estimated to reach 347,700 (-27% yoy). Despite a significant decline in production, the number of domestic cars in the Vietnamese market in 2023 was still three times higher than the group of imported cars. (Source: GSO)

VIC (Vingroup JSC)

  • Mr. Pham Nhat Vuong – founder and Chairman of Vingroup, VinFast’s parent company, will transition from his current role as the Chairman of the Board of Directors of VinFast to assume the executive position of Chief Executive Officer (“CEO”) of VinFast. Concurrently, Madame Le Thi Thu Thuy will transition from her current role as CEO to assume the position of Chairwoman of the Board of Directors. (Source: Vinfast)

VHM (Vinhomes JSC)

  • VHM kicked off social housing project in Hai Phong on 06 Jan 2024 called “Happy Home Trang Cat” with 4,300 houses, total investment of $238mn, expected to complete in 5 years.
  • Given a lot of incentives that are expected to be provided for developers of social housing projects after the Law on Housing comes into effective in Jan-2025, VHM will be a beneficiary. Nonetheless, the profit contribution from this product segment is insignificant compared to their total scale so the impact on profit will be insignificant. (Source: VHM)

FRT (FPT Digital Retail JSC)

  • From 11 Jan 2024, the mobile network FPT – MVNO (Mobile Virtual Network Operator) of FPT Retail (FRT) officially launched nationwide. FPT network operates under the mobile virtual model (MVNO), meaning the network does not own the infrastructure, but provides telecommunications services by purchasing traffic from available units, then retailing it to users. In the case of FPT, the network operator uses infrastructure from MobiFone. (Source: FRT)

VJC (Vietjet Aviation JSC)

  • Vietjet has received 04 wet-leased aircraft to expand its fleet of 103 aircrafts ahead of the peak season to operate passengers on domestic and international routes.
  • Especially, passengers flying with Vietjet during this time will receive international tickets from 0 VND (excluding taxes and fees), on Wednesdays, Thursdays, and Fridays from now until 10 Feb 2024, and a special golden week offering 20% discount on Business and SkyBoss tickets. (Source: VJC)

DBC (Dabaco Group)

  • On 10 Jan 2024, DBC welcomed 20 containers of pig breeds imported from France after a careful selection process, aiming to increase the capacity of Dabaco’s pig breeds. (Source: DBC)
  • Ms. Nguyen Thi Tan Hoa, Chairman’s daughter, registered to sell 1 million shares via order matching/put through from 11 Jan 2024 to 07 Feb 2024. Post transactions, she will hold 4.4 million shares (1.8% OS). (Source: HSX)

HPG (Hoa Phat Group JSC)

  • December 2023 sale volumes :
    • Construction steel: 462,000 tons (+12.7% mom and +29.1% yoy)
    • Billet: 22,000 tons (-24.1% mom and -65.1% yoy)
    • HRC: 276,000 tons (+2.2% mom and +91.7% yoy)
    • Steel Pipe: 68,000 tons (-6.8% mom and +11.5% yoy)
    • Steel Sheet: 24,000 tons (-35.1% mom and -40% yoy) (Source: HPG)
  • The construction steel and high quality steel recorded the highest 20-month level as the domestic market has shown more positive signs. HRC volumes keep increasing thanks to the export demand from EU. Noted that HPG’s construction steel have been used in Long Thanh international airport project, Dien Bien airport expansion, Tan Son Nhat airport renovation project, North-South expressway,… (Source: HPG)

BIC (BIDV Insurance Corporation)

  • 2023, direct written premium of $187.9mn (+30% yoy and completed 140% target), ranking #6 in terms of market share. Parent PBT of $22.88mn (+50% yoy) and consolidated PBT of $23.69mn (+50% yoy and completed 120% target). (Source: BIC)

FMC (Sao Ta Foods JSC)

  • Total sales in 2023 reach $200.6mn (-11.3% yoy and completed the year plan). In 2023, the quantity of processed shrimp products reached 21,198 tonnes (+3% yoy); processed agricultural products reached 1,569 tonnes (-20.8% yoy). (Source: FMC)

BWE (Binh Duong Water – Enviroment Corporation – JSC)

  • BWE released its preliminary 2023 results with revenue of $163mn (+2% yoy) and NPAT of $25mn (-19% yoy). The divergence in topline growth and NPAT growth is caused by higher financial expenses yoy (given increasing debt for M&A deals totaling $41 mn, which doubled yoy, higher interest rates, and FX loss. BWE is preparing to inaugurate the 5 MW biomass thermal power plant on 12 Jan 2024, which should help to lower electricity costs.

DSN (Dam Sen Water Park Corporation)

  • In 2023, more than 1.2 million guests visited Dam Sen Water Park (+8% yoy). Revenue reached $10.2mn (+7.2% yoy and 8.2% higher than target), NPAT reached $4.63mn (+4.4% yoy and 14.8% higher than target).
  • DSN also plans to pay cash dividends at a rate of 40% and has advanced dividends for the first phase of 2023 at a rate of 24%.
  • DSN announced a 2024 target with revenue $9.83mn and NPAT $4.26mn (-8% yoy). The expected dividend rate is 24%. (Source: DSN)

GVR (Vietnam Rubber Group – JSC)

  • In 2023, achieved total revenue of $1,13 bn (-2.8% yoy) and expected profit after tax of $174mn (-10.3%yoy). (Source: GVR)

HHV (Deo Ca Traffic Infrastructure Investment JSC)

  • HHV succesfully offered more than 7.1 million undistributed shares (1.73% OS) to PYN Elite Fund with the offer price of VND 11,000/share (10% premium price compared to the issuance of existing shareholders).
  • The transaction value is estimated at $3.2mn. Subscription and payment date: 10 Jan 2024 to 15 Jan 2024. (Source: HHV)

HAG (Hoang Anh Gia Lai JSC)

  • HAG successfully sold 13.31 million shares of Hoang Anh Gia Lai International Agriculture JSC., (HOSE: HNG) to repay bond debt at BIDV on 11 Jan 2024 via put through, reducing its holding to 91.4 million shares (8.2% OS).
  • HAG will register to buy nearly 77.72 million shares offered to existing shareholders of Gia Lai Livestock JSC (HAG’s subsidiary). Besides, HAG will convert loan balances, interest receivables and other receivables of Gia Lai Livestock JSC into equity capital (Debt/Equity swap). Post transaction, HAGL will own 165.75 million shares of Gia Lai Livestock (85% OS). (Source: HAG)

MPC (Minh Phu Seafood Corporation)

  • Three daughters of MPC chairman will receive nearly 22.7 million MPC shares (equivalent to 5.7% OS) transferred from two individuals Nguyen Hong Phuc and Nguyen Thi Kim Xuyen.
  • Specifically, Ms. Le Thi Minh Phu received the transfer of more than 11 million shares, increase her ownership from 0.28% to 2.76%; Le Thi Minh Qui received nearly 9.9 million shares, increase her ownership from 0.28% to 2.76%; Le Thi Minh Ngoc received nearly 1.8 million shares, increase her ownership from 2.31% to 2.76%.
  • The transfer transaction is expected in 1Q2024 or 2Q2024, by agreement and/or order matching method. Thus, the total MPC shares held by the Chairman family will increase to 198.75 million shares (equivalent to 49.7% OS). (Source: HSX)

MWG (Mobile World Investment Corporation)

  • Mr. Nguyen Duc Tai, Chairman bought 200,000 shares out of 500,000 shares registered from 12/12/2023 to 10/1/2024. Post transactions, he holds 35.4 million shares (2.422% OS). (Source: HSX)