The Vietnam Stock Exchange (VNX) reported a decrease of 11% year-on-year in net revenue to more than 3 trillion VND, according to the audited consolidated financial statements for 2023.
The Hanoi Stock Exchange in Ho Hoan Kiem street (Photo: VNA)
Hanoi (VNS/VNA) - The Vietnam Stock Exchange (VNX) reported a decrease of 11% year-on-year in net revenue to more than 3 trillion VND, according to the audited consolidated financial statements for 2023. The majority of the VNX's revenue came from securities trading services.
Last year, the VNX saw declines across various expense categories, including finance and management costs. However, the exchange's other expenses surged by more than four times.
Deducting all expenses and taxes, it posted a net profit of 1.92 trillion VND, down 8% from the year before. This marks the first time the exchange has reported negative performance in both revenue and profitability.
As of the end of 2023, the VNX's total assets reached approximately 4 trillion VND, with nearly 50% of the value in the form of bank deposits. This contributed to its recording 163 billion VND in interest income, up 58% on year.
The VNX was established in February 2021 with a charter capital of 3 trillion VND. It is a 100% State-owned limited liability company, operating under a parent-subsidiary model formed by reorganising the Ho Chi Minh and Hanoi stock exchanges.
Its main role is to unify the organisational structure, policies and IT infrastructure to serve the market.
In its first year, the exchange reported revenue of over 2 trillion VND and net profit of 1.3 trillion VND. The figure surged to 3.4 trillion VND in revenue and 2.1 trillion VND in profit in 2022, driven by a strong stock market performance.
For 2024, the VNX has set targets of nearly VNĐ2.8 trillion in revenue, down 9% and 1.4 trillion VND in net profit, down 26%. It also plans to contribute over 1.7 trillion VND to the State budgꦯet in taxes./.
The elevation of the stock market to "emerging" status can help Vietnam attract an additional 10 billion USD in both direct and indirect investment, KB Vietnam Securities JSC (KBSV) reported, citing the World Bank (WB).
Chairwoman of the State Securities Commission (SSC) Vu Thi Chan Phuong has held a working session with representatives from FTSE Russell and Morgan Stanley to discuss how to upgrade the Vietnamese stock market.
More than 163,000 new stock trader accounts were created during March this year, an increase of over 50,000 accounts compared to January, marking March the month with the most accounts created in the last six months, according to the Vietnam Securities Depository and Clearing Corporation (VSDC).
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
