Novaland listed on Vietnam Sustainability Index
Key property developer Novaland Group's shares have one more time been named in the Vietnam Sustainability Index (VNSI) this July.
To commemorate its efforts to do business in the most effective and safe manner, Novaland Group's shares were listed on the Vietnam Sustainability Index (VNSI).
The VNSI cosists of listed companies with the highest scores of sustainability. The index is announced in every July. Businesses with the highest scores in environmental, social, and governance-related performance are listed on the VNSI.
This index evaluates the sustainability performance of companies listed on the Vietnamese stock market.
In Vietnam, securing a spot on the sustainability index is one of the key mission of every enterprise because it relates to the development of the innovative products toward a “green capital market”.
The "green capital market" was mentioned in the National Strategy on Green Growth to 2020 issued by the Ministry of Finance in 2015.
VNSI targets include standardising sustainable development for listed companies, supporting organisations and individuals in identifying good companies for investment, boosting sustainable development in the economy, and supplying a new tool to foster the development of stock markets and the economy.
To be listed on the VNSI, companies are carefully selected by the Ho Chi Minh Stock Exchange (HSX).
HSX gives companies a list of questions about stable development, and those getting a big score make it on the list.
Novaland is a major developer based in Ho Chi Minh City. Last year, it entered the hospitality market with many projects in tourism cities like Phan Thiet in Binh Thuan province and Vung Tau in Ba Ria-Vung Tau province.
At its 2018 annual general shareholders' meeting, Novaland reported 31 and 58 per cent growth in its revenue and net profit, respectively. The total number of apartments handed over increased by 28 per cent against 2017.
It has set the target of gathering VND18 trillion ($782.6 million) in its turnover in 2019, up 20 per cent on-year.