HCMC bourse CEO Le Hai Tra expelled from Party
Chairman of State Securities Commission Tran Van Dung was removed from all positions in the Party, while CEO of Ho Chi Minh Stock Exchange Le Hai Tra was expelled from the Party on Wednesday.
Tran Van Dung, Chairman of State Securities Commission. Photo courtesy of the commission.
Apart from disciplining the two, the Central Inspection Committee warned Vu Bang, former chairman of State Securities Commission (SSC); Nguyen Thanh Long, secretary of Hanoi Stock Exchange’s Party Committee and board chairman of Vietnam Stock Exchange; and Nguyen Son, chairman of Vietnam Securities Depository Center’s board of directors.
In 2017, Dung, 57, held the position of SSC chairman after being the board chairman of Ho Chi Minh Stock Exchange (HoSE). Tra, 48, used to work at the SSC’s market development department.
Le Hai Tra, CEO of Ho Chi Minh Stock Exchange. Photo courtesy of the bourse.
The committee in late March stated that the SSC’s Party Committee in the 2015-2020 term lacked responsibility, showed loose leadership, and lacked inspection and supervision, giving rise to some organizations and individuals "breaking the law, manipulating the market, and gaining illicit profits".
The disciplinary action took place in the context that the Ministry of Public Security was investigating a series of violations in securities trading and intentionally disclosing work secrets that occurred at the SSC.
The ministry's investigative agency in late March arrested former FLC Group chairman Trinh Van Quyet for stock market manipulation. A month later, Do Duc Nam, general director of Tri Viet Securities, and Do Thanh Nhan, chairman of Louis Holdings, were arrested on the same charge.
The agency in late April detained Nguyen Hung, deputy director of the SSC’s securities market supervision department, to investigate the act of deliberately disclosing work secrets.
- Read More
Vietnam firms vow to intensify cooperation with US partners, facilitate country trade talks
Major Vietnamese enterprises have committed to intensifying cooperation with U.S. partners from now until June 2025 to realize signed agreements and MoU, paving the way for trade talks with the U.S.
Economy - Thu, May 8, 2025 | 4:19 pm GMT+7
AES earns $12 mln in Q1 pre-tax income from coal-fired power plant in Vietnam
U.S.-based energy giant AES Corporation earned a pre-tax income of $12 million from the Mong Duong 2 coal-fired power plant in Vietnam’s northern province of Quang Ninh in the first quarter of this year.
Companies - Thu, May 8, 2025 | 3:33 pm GMT+7
Vietnam insurer Pjico stock plummets amid insurance sector gains
Petrolimex Insurance Corporation (Pjico) saw its stock (HoSE: PGI) tumble nearly 6% on Wednesday, which contrasts with the broader insurance sector which posted solid gains of 1.77%, second only to telecommunications (2.54%).
Companies - Thu, May 8, 2025 | 3:21 pm GMT+7
Vietnam tech unicorn VNG reports loss for 7th straight quarter
VNG Corporation, Vietnam’s first tech unicorn, recorded a post-tax loss of VND15 billion ($577,723) in Q1, marking the seventh consecutive quarterly loss, according to its Snapshot Q1/2025.
Companies - Thu, May 8, 2025 | 12:01 pm GMT+7
Vietnam's government bond auctions raise $1.62 bln in April
The Hanoi Stock Exchange (HNX) held 20 government bond auctions on the primary market in April, raising over VND42.42 trillion ($1.62 billion), the bourse reported.
Finance - Thu, May 8, 2025 | 8:32 am GMT+7
Malaysia’s investment growth in 2025 faces challenges
In the context of global trade uncertainty, Malaysia may not achieve a hat-trick in approved investments this year after two straight years of record-high numbers.
Southeast Asia - Wed, May 7, 2025 | 10:59 pm GMT+7
Thaco seeks to remove obstacles to hotel, bauxite projects in Vietnam's Central Highlands
Thaco expects the Central Highlands province of Lam Dong to help the multi-industry corporation remove barriers to its hotel, bauxite, and aluminum projects in Da Lat town, said a company representative.
Industries - Wed, May 7, 2025 | 10:55 pm GMT+7
Q1 proves tough for Vietnam's oil and gas giants
Profits for major Vietnamese oil companies dropped significantly in Q1, as global oil prices plunged, driven by U.S. tax policy shifts and the ongoing Russia-Ukraine war.
Companies - Wed, May 7, 2025 | 5:06 pm GMT+7
How much is your identity worth?
With 87% of Vietnamese adults having bank accounts and approximately 95% of transactions conducted via online channels, how banks can protect their customers’ personal data has become important more than ever, writes Phillip Wright, chief operating officer at HSBC Vietnam.
Consulting - Wed, May 7, 2025 | 4:01 pm GMT+7
Foxconn plans to expand product portfolio at $200 mln plant in central Vietnam
Fu Wing Interconnect Technology (Nghe An) Co., Ltd., a subsidiary of Taiwan-based electronics giant Foxconn, plans to expand the range of products at its $200 million factory in Vietnam’s central province of Nghe An.
Industries - Wed, May 7, 2025 | 3:35 pm GMT+7
Sumitomo okayed to build 4th industrial park in Vietnam
With an industrial park to develop in the central province of Thanh Hoa, Japan's Sumitomo will expand its industrial real estate portfolio in Vietnam to four projects amid rising FDI inflows.
Industrial real estate - Wed, May 7, 2025 | 2:16 pm GMT+7
Vietnam upholds 8% GDP growth target despite US tariff turmoil
The Vietnamese Government is persistent with its 8% growth goal though disadvantages outweigh advantages, with a focus on solutions to respond to U.S. reciprocal tariffs, PM Pham Minh Chinh told a cabinet meeting on Tuesday.
Economy - Wed, May 7, 2025 | 12:42 pm GMT+7
Vietnam's sugar major Quang Ngai Sugar JSC posts lowest Q1 profit in 2 years
Quang Ngai Sugar JSC, owner of famous soy milk brand Fami in Vietnam, reported its weakest Q1 profit in two years as its sugar business struggled under pressure from smuggled and imported sugar, though the soy milk segment continued to support revenue.
Companies - Wed, May 7, 2025 | 11:14 am GMT+7
Listing, state capital divestment “blockbusters” new catalysts for Vietnam's stock market
As Vietnam’s stock market enters an information lull following Q1 earnings releases and AGMs, recent news about major listing and state capital divestment plans are expected to be significant catalysts for the country's benchmark VN-Index.
Finance - Wed, May 7, 2025 | 8:17 am GMT+7
Construction of first locally-owned semiconductor factory begins in Vietnam
CT Semiconductor, a subsidiary of CT Group, has begun the second phase of construction on what is set to become Vietnam’s first semiconductor chip factory fully owned by a domestic company.
Southeast Asia - Tue, May 6, 2025 | 10:50 pm GMT+7
Japanese retailers step up business activities in Vietnam
Japanese retailers Aeon and Sumitomo have planned to expand their networks in Vietnam, Nikkei Asia reported on Monday.
Southeast Asia - Tue, May 6, 2025 | 10:39 pm GMT+7
