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Investors advised to put money in multiple baskets
Individual investors have been advised to make investments in more than one investment channel at the same time, while businesses have been told to focus on restructuring now.
Though believing that bank deposits are the safest investment channel for now, Deputy Head of the HCM City Economics Institute Dinh Son Hung said that investors should only put 50% of the money they have into banks.
Hung said that it is not advisable to put all money into one basket, investors should disperse risks. “The other 50% should be reserved for other investment items, while purchasing gold should also appear in people’s thoughts,” Hung said.
He went on to say that as countries in the world have been pumping money into circulation to rescue their economies, gold has become a safe harbour for investors. Though the gold price has become very high, nearly hitting the VND20mil/tael threshold, Hung said that the level is still lower than the price will be in the future, when countries all pump big sums of money into circulation.
Hung believes that purchasing gold is a better choice than stocks or real estate. Investments in real estate prove to cost a lot of money, while the stock market has not shown signs of recovery.
Meanwhile, Ken Tai, an analyst from Kim Eng Securities Company, said that investors should not consider injecting money in stocks until October. He also said that while waiting for October to come, gold and dollars are worth investors’ attention.
However, of the two choices, gold and dollars, Ken Tai leans towards gold.
As for the dollar, he said, it is necessary to consider two things. If countries in Europe continue cutting interest rates to help improve the competitiveness of their exports, the dollar will appreciate. However, if the governments try to limit imports in order to reduce the trade gap, the dollar will drop in value.
Meanwhile, a securities expert in HCM City said that the principle of putting eggs into different baskets proves to be very reasonable at this moment. He said that idle capital can be used in every investment channel, depending on the expected profit and financial capability and bravery of investors.
According to the expert, in the long term, real estate will bring the most attractive profit, especially when the real estate market wakes up. Investors can also seek long-term profit in stocks.
The expert advised investors to keep cautious with gold and dollars because of the unpredictable price performance of the two commodities. He said that the gold price fluctuates all the time as it depends on too many factors, and no one can keep abreast of all of them.
Meanwhile, enterprises have been advised to focus on business restructuring. Dr Le Tham Duong, Head of the Business Administration Faculty under the HCM City Banking University, said that it is now a golden time to restructure businesses. A lot of companies in the world have gone bankrupt and had to liquidate equipment at dirt cheap prices. Duong said that this brings Vietnamese businesses a chance to purchase modern equipment at attractive prices.
Duong also said that improving their workforce is a thing businesses should do now. It is now easy to find good staffs who have lost jobs in the crisis.
VietNamNet, VNE
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