VIETNAM BUSINESS NEWS HEADLINES NOVEMBER 9

Remittances to Ho Chi Minh City rise despite pandemic HCMC saw overseas remittances rise by 6 percent year-on-year to 4.2 billion USD in the first nine months of this year, despite the economic fallout of the COVID-19 outbreak. Remittances to the city have been coming into business instead of property, stocks or savings. In recent years, they have been growing at 8-10 percent a year, but often depend on the global economic situation and that of overseas workers. They have been steady since the beginning of this year, and continue to come mainly from the U.S. and Europe. Vietnam’s economy has steadied and there are no adverse sentiments putting pressure on the currency exchange, meaning remittance recipients are not averse to exchanging to and holding the dong, which in turn further helping keep the exchange rate steady./. State assets sold for 44.75 million USD over 10 months A total of 42.3 million State shares sold from January-October fetched nearly 1.04 trillion VND (44.75 million USD), according to the Hanoi Stock Exchange (HNX). The northern market regulator organised 11 auctions to offload the shares. The successful bidding value was 22 percent higher than the value offered for sale. In October alone, the HNX… Read full this story

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