INVESTMENT

The Hanoitimes - With a par value of VND10,000 (US$0.43), the total value of the share amount in subject is VND23.41 trillion (US$1 billion). Ho Chi Minh Stock Exchange (HoSE) on December 17 approved the listing of 2.34 billion shares of PetroVietnam Power (PV Power), a subsidiary of Vietnam National Oil and Gas Group (PetroVietnam).    Illustrative photo. The stock of PV Power (coded POW) ended flat at VND15,000 (US$0.67) a share on the Unlisted Public Company Market (UPCOM), giving the company a market value of VND35.12 trillion (US$1.56 billion). PV Power’s charter capital is VND23.41 trillion (US$1 billion), in which PetroVietnam is the largest shareholder with 51% stake.  The government in January raised US$308 million (VND6.996 trillion) by selling 20% shares of PV Power in the initial public offering (IPO). With 468 million shares offered and an initial price of VND14,400 (US$0.6) apiece, the proceeds were 4% higher than the government's … [Read more...] about Vietnam’s PV Power to list entire shares worth over US$1.6 billion

The Hanoitimes - Tan Chong, which is the exclusive distributor of Nissan vehicles in Malaysia, did not give any reason for the notice of termination. Nissan Motor Co Ltd has issued a notice to terminate its joint venture (JV) with Tan Chong Motor Holdings Bhd that imports and distributes Nissan vehicles and spare parts in Vietnam, The Star reported.    Illustrative photo. In a filing with Bursa Malaysia on December 14, Tan Chong said the notice was effective from Dec 9, 2018, while the JV agreement dated Sept 22, 2010, would terminate on Sept 10, 2019. In 2010, Tan Chong's wholly-owned subsidiary ETCM acquired a 74% stake in the JV Company, Nissan Vietnam Co Ltd, from Kjaer Group A/S. Nissan Motor holds the remaining 26% of the charter capital. Nissan Vietnam Co., Ltd is principally involved in the importation and distribution of Nissan vehicles in Vietnam.  Tan Chong, which is the exclusive distributor of Nissan vehicles in Malaysia, did not give any reason … [Read more...] about Nissan terminates joint venture with distributor Malaysia’s Tan Chong in Vietnam

The Hanoitimes - The government has so far also planned to cut costs for businesses to make the country’s investment environment more attractive. Vietnam needs to curb the rising business cost  as soon as possible because it will be  hindering foreign investors to pour into the country in the time to come, experts warned.   Land lease rate in industrial parks in Vietnam’s big cities has increased According to Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry (VCCI), Vietnam would be less appealing as an investment destination if the rise of business costs is not halted. The country’s business costs are increasing faster than labor productivity, Loc said, adding besides investment costs, administrative expenses are also on an upward trend. In fact, the costs of land, labor and building materials in Vietnam has increased significantly. As for land lease rate, for example, in the Giang Dien Industrial Park in the southern … [Read more...] about Rising business costs to upset foreign investment inflow to Vietnam

The Hanoitimes - The government has so far also planned to cut costs for businesses to make the country’s investment environment more attractive. Vietnam needs to resolve the rising business cost problem as soon as possible because it will be a main cause hindering foreign investors to pour into the country in the time to come, experts warned.     Land lease rate in industrial parks in Vietnam’s big cities has increased According to Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry (VCCI), although Vietnam is an attractive destination to foreign investors, the challenge in attracting the foreign investment inflow to Vietnam in the time ahead is the increasing business costs. The country’s business costs are increasing faster than labor productivity, Loc said, adding besides investment costs, administrative expenses are also on an upward trend. In fact, the costs of land, labor and building materials in Vietnam has increased … [Read more...] about Rising business costs to plague foreign investment inflow to Vietnam

Deputy Minister of Planning and Investment Vu Dai Thang poses for a group photo with Vietnamese-German billionaire Mai Vu Minh and Dubai businessmen The delegation includes Chairman of SAPA Thale Group - Vietnamese-German billionaire Mai Vu Minh, Vice President of the World Association of Investment Promotion Agencies (WAIPA) and CEO of Dubai Investment Development Agency (Dubai FDI) Fahad Al Gergawi, CEO of Beaufort Global Rene Bernad Beil and a representative of Milcon Gulf Group Giang Ly Lien Khang. At the meeting, Deputy Minister Thang listened to bilateral investment plans from Dubai FDI and the SAPA Thale Group in Vietnam in various fields: Finance, banking, high technology and infrastructure development, environment, energy, transportation and real estate, hospitality and tourism, as well as efforts to improve the investment environment in Vietnam. On behalf of the business delegation, billionaire Mai Vu Minh said: "We will make all-out efforts boost investment to Vietnam … [Read more...] about Deputy Minister of Planning and Investment meets businessmen from investment cooperation program