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Tuesday, July 23, 2024

Public investment-related stocks rise

By Linh Trang

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Stocks associated with entities benefiting from public investment projects have witnessed a remarkable upswing in prices, fueled by a string of positive developments in business activities. Many bidding packages find winners Public investment has been one of the top trending topics since the beginning of 2023. In the current economic landscape, where many engines of the economy are facing numerous setbacks, public investment has emerged as a pillar of support for this year’s growth. On the stock exchange, public investment-related stocks have been on the rise, serving as conduits for cash flow and gradually contributing to the recovery of the VN-Index. Citing FCN of FECON Corporation as an example, this stock has gained over 40% since the start of May, soaring from around VND11,000 to VND16,000 per share. The price surge can be attributed to the issuer’s consecutive wins in multiple bidding packages. In May, FECON secured various projects worth a total of VND300 billion. These projects include the construction of a concrete embankment worth nearly VND60 billion for the Kiss Bridge on Phu Quoc Island, the soil cement pile D1200 worth nearly VND22.2 billion as part of the Royal Group Headquarters project in Cambodia, the manufacturing and installation of […]
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