Morning Briefing, April 9: Appointments of Deputy Prime Minister, Ministers, and Other Government Members for the 2026-2031 Term Finalized

Macroeconomic News

• According to The New York Times: The Strait of Hormuz remains virtually closed following the ceasefire, and oil and gas flows remain paralyzed.
• United States: President Trump stated that the U.S. will cooperate closely with Iran following a “very effective regime change.” Vice President Vance will lead U.S. negotiations with Iran in Pakistan
• Europe: Eurozone retail sales for February fell as expected.
• UK: Construction activity in the UK continued to decline in March.
• China: China allocated additional crude oil quotas to independent refineries to maintain fuel production.
• China: The Chinese yuan rose to a three-year high, with the onshore exchange rate at 6.8287 CNY/USD.
• Vietnam: On April 8, 2026, the National Assembly voted to approve resolutions ratifying the appointment of the Deputy Prime Minister, Ministers, and other members of the Government for the 2026–2031 term.
• Vietnam: The Ministry of Industry and Trade recently issued Circular No. 19 on April 3, 2026, regulating advance payments to the Fuel Price Stabilization Fund from the state budget, the establishment of the Fund, and the repayment of state budget advances.
• Vietnam: The government has approved the division of the North-South high-speed railway project into 17 independent projects, while granting additional decision-making authority to investment decision-makers to accelerate progress.

Market News

• LHG: Long Hau plans for a 43.3% decrease in profit in 2026, down to 165.73 billion VND.
• CTG: VietinBank has registered to divest its entire holding of over 19.3 million Saigon Port (SGP) shares.
• DPM: Phu My (DPM) is ramping up exports of technical urea, capitalizing on the opportunity presented by rising global prices.
• ITC: ITC sets a profit target of VND 64 billion for 2026, with revenue shifting toward the hotel sector.
• LPB: For 2026, LPBank (LPB) has set a pre-tax profit target of 14,982 billion VND and plans to pay a 30% cash dividend.
• OPC: OPC Pharmaceutical targets an 18% profit increase in 2026 and a 25% dividend payout for 2025.
• VIB: VIB aims to increase profit by 27% and pay dividends and stock bonuses totaling nearly 19%.
• Dien May Xanh: Dien May Xanh reported revenue of VND 32.416 trillion in the first three months of 2026.
• SHB: Vietnam Securities upgraded SHB, officially adding it to the FTSE Global All Cap index.
• BMP: BMP’s Board of Directors proposed to shareholders the approval of revenue targets of 6,053 billion VND, pre-tax profit of 1,597 billion VND, and post-tax profit of 1,278 billion VND. Compared to 2025 results, the Company’s plan indicates expected growth of 8% in revenue and 4% in profit.
• MBS: MBS reported an 8% increase in first-quarter profit, with margin lending contributing significantly to revenue.

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Source: BIDV Securities (BSC)