Morning news 5-1: When will Vietnam's stock market be upgraded?; Many multi-level marketing companies were fined

Some notable news: New regulations related to car age; KIS Vietnam Securities has a new chairman; The National Competition Commission has just announced the results of inspection and examination of multi-level sales activities of many large multi-level companies in Vietnam...

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When will Vietnam's stock market be upgraded?

Currently, Vietnam is classified as a frontier market by two international organizations, MSCI and FTSE Russell, and is included in the frontier market index.

To date, the Vietnamese stock market has the largest weighting in the frontier market index basket.

GOLD PRICE UPDATE

According to news from An Binh Securities (ABS), in the September 2024 assessment, the Vietnamese stock market met 7/9 criteria needed to be upgraded from a frontier market to an emerging market according to FTSE Russell's assessment.

However, there are 2 criteria that need to be improved: the payment cycle criterion - DvP is assessed as limited, the payment criterion - the rate of rare failed transactions is not assessed.

In the September 2024 assessment, with MSCI criteria, Vietnam has improved 1 criterion compared to 2023 but there are still 8 more criteria to upgrade including:

Foreign ownership limits, foreign room, foreign investor equality, degree of freedom in the foreign exchange market; investor registration and account establishment, market regulation, information flow and finally clearing.

ABS believes that the Vietnamese market could be upgraded by FTSE as early as the September 2025 review. The key point is that the KRX trading system must be operational, creating a premise for implementing the central clearing counterparty model (CCP), which is a necessary condition for the market to be upgraded.

New regulations regarding car age

Decree 166 on business conditions for motor vehicle inspection services, organization and operation of inspection facilities, age limit of motor vehicles and Circular 53 on classification of road vehicles, has expanded 2 more categories of motor vehicles subject to regulations on age limit of use.

Specifically, four-wheeled motor vehicles and money carriers.

Accordingly, cargo vehicles (trucks) and specialized cargo vehicles (specialized trucks) have a life span of 25 years from the year of manufacture.

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Types of cargo trucks include trucks, dump trucks, single cabin pickup trucks, double cabin pickup trucks, covered trucks, closed box trucks, refrigerated trucks, driving practice trucks, etc.

Specialized cargo trucks include tanker trucks, car carriers, garbage trucks, mud trucks, money trucks, concrete mixers and transporters, etc.

For passenger cars with a permitted capacity of 9 or more people, excluding the driver (such as passenger cars, sleeper buses, etc.), preschool vehicles, school buses, and four-wheeled motorized cargo vehicles, the life span is 20 years from the year of manufacture.

For four-wheeled motor vehicles, Decree 166 stipulates a 15-year term from the year of manufacture.

The Decree also supplements and amends the provisions on determining the year of manufacture to suit the actual implementation. Specifically, the year of manufacture of the vehicle is determined based on information about the year of manufacture in one of the documents in order of priority.

Including certificate of technical safety and environmental protection quality of imported motor vehicles for imported vehicles; factory quality inspection certificate for domestically manufactured and assembled vehicles.

Manufacturer's year of manufacture information attached to the vehicle. Lookup results from the manufacturer or documents provided by the manufacturer.

Also according to Decree 166, vehicles without the above documents, records, and facilities will be considered expired. Vehicles that have expired are not allowed to circulate on the road...

Herbalife Vietnam Company Fined for Many Violations

The National Competition Commission has announced the results of its inspection and examination of multi-level marketing activities of many companies.

Including the results of the multi-level marketing inspection of Herbalife Vietnam Company Limited.

This company has its head office address: 26 Tran Cao Van, Vo Thi Sau Ward, District 3, Ho Chi Minh City. Accordingly, this enterprise was fined 205 million VND for many violations.

Firstly, this company does not conduct or does not properly conduct basic training for multi-level marketing participants as prescribed by law.

Second, assigning unqualified trainers to conduct basic training for multi-level marketing participants.

Herbalife Vietnam also did not comply with the operating rules, registered compensation plans and did not properly fulfill reporting obligations in multi-level sales activities as prescribed by law.

KIS Vietnam Securities has a new chairman

The Board of Directors of KIS Vietnam Securities Joint Stock Company has just approved the dismissal of Mr. Park Won Sang from the position of Chairman of the Board of Directors.

At the same time, the Board of Directors of KIS Vietnam approved the election of Mr. Lee Hun Woo as Chairman of the Board of Directors of the company until the Board of Directors elects a replacement Chairman.

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Before becoming chairman of KIS Vietnam, Mr. Woo held the position of deputy director of business planning department at KIS Korea.

Previously, Mr. Park Won Sang submitted his resignation from the position of Chairman from January 1, 2025, and from the position of member of the Board of Directors from the time of approval by the General Meeting of Shareholders. Currently, Mr. Park Won Sang is still holding the role of General Director and legal representative at KIS Vietnam.

Expected domestic news events from January 5 to 10

- January 5: Opening of the National Student Festival "Connet Fest 2025"; Commending the titles of "3 Good Students", "3-Trained Students", "5 Good Students", "5 Good Student Collective" at the Central level; awarding the "January Star" award in 2024; Awarding ceremony of the 3rd National Press Award on the National Assembly and People's Council in 2025 (Dien Hong Award); In An Giang, the 2025 Vietnam Rural Half Marathon.

- January 6: Conference on implementing people-to-people diplomacy work in 2025.

- January 7: In Hai Duong, the award ceremony of the composition contest "For a peaceful life" in 2024 and the launch of the contest in 2025.

- January 10: Launch of the anthology "Hai Duong prose about revolutionary war".

Main news on Tuoi Tre daily today 5-1. To read Tuoi Tre print newspaper E-paper version, please register for Tuoi Tre Sao HERE

Weather news today

Quang Da Bridge construction site - Photo: NGUYEN HUU TAN

Source: https://tuoitre.vn/tin-tuc-sang-5-1-bao-gio-chung-khoan-viet-nam-duoc-nang-hang-nhieu-cong-ty-da-cap-bi-phat-20250104192248886.htm