businesses such as real estate development, financial services or
overseas investment to survive amidst the prolonged gloomy situation.
The President of the Trang An Securities Company Executive Council, Le
Ho Khoi, explained the company’s investment of almost 15 percent of a
property project as an extra source of incomes from 2012 when it is
inaugurated.
Project “Complex Building of services,
trade and electronic assembly workshop”, consisting of 15 storeys on a
compound of over 5,000 sq. m., has a total investment of 200 billion VND
(10.2 million USD). It is mainly invested by the Fortika Joint-stock
Company.
Another giant, the An Binh Securities
Company, together with two other affiliates of the An Binh holding
company, has signed an agreement on strategic cooperation with the
Vietnam Aviation Insurance Joint-stock Company (VNI) to develop new
financial services.
Some other leading companies in this field have decided to try their chances abroad with a plan to open overseas branches.
The Sacombank Securities Joint-stock Company (SBS) is preparing a plan
to enter into a joint venture with the Lao Development Bank (LDB) to
set up a securities company in Laos named Lanexang Securities Public
Company Limited, or SBS-Laos.
SBS said the
establishment of the SBS-Laos, scheduled for the fourth quarter of this
year, would offer an opportunity for investors from the two countries
and contribute to economic development in both countries, especially
Laos, which is making great efforts to open their market.
After reaching its peak of 1,300 points in late 2007, the stock market
in Vietnam began the falling trend due to the negative impacts of the
global economic crisis and domestic difficulties.
Despite great efforts made by the State Securities Commission, the
market has still been painting a dim picture with VN-Index fluctuating
between 400 and 450 points. The situation has forced a number of
securities companies to gear to other businesses for survival.
Experts remain pessimistic about the market fate, saying there were no signs of taking off for the market in the near future./.
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