Investment

Thaco has decided to cut HAGL loose, ending the M&A deal between the two On July 12, Hoang Anh Gia Lai International Agriculture JSC (HAGL Agrico, HSX: HNG) received an official notification from Thagrico about the latter's decision to stop purchasing HNG shares. Following the decision, HAGL Agrico will suspend the issuance of 550 million shares to exchange for its debt of VND5.5 trillion ($239.26 million) to Thagrico and call off plans for a private placement of more than 191.4 million shares for Thagrico. Thagrico pointed out three reasons for suspending investment in HAGL Agrico. First, to support the company to repay loans from BIDV and other banks, Thagrico received the transfer of three HAGL Agrico subsidiaries namely Indochina Rubber, Dong Penh, and Trung Nguyen Rubber in 2019. The subsidiaries have a total production area of ​​22,462 hectares in Cambodia and Gia Lai province with a total value of VND7.62 trillion ($331.48 million). While the payment has been … [Read more...] about Thaco halts investments in HAGL Agrico

According to the public investment plan in the period 2021-2025, the total state budget capital allocated for this period is VND2.87 quadrillion, not VND2,750 trillion as being reported to the 10th session of the 14th National Assembly. According to the report on the implementation of medium-term public investment plan for the 2016-2020 period and the plan for the 2021-2025 period, about 4,979 projects will be carried out in the 2021-2025 period, a reduction of more than half compared to the number in the 2016-2020 period, including 2,236 projects to be newly launched. 5 years without any major projects completed More than VND2.8 quadrillion in public investment Luong Bang … [Read more...] about Huge public investment in industries and regions

The commitment was made during a recent governmental-level meeting on the Vietnam - Germany development cooperation in 2021 held via videoconference, according to the Ministry of Planning and Investment (MPI). Among the beneficiary projects, the one on building a centre for epidemic forecasting and management proposed by the Health Ministry as an emergency response to the Covid-19 pandemic will receive EUR15 million in non-refundable ODA. The MPI said the German Government views Vietnam as a “global partner” in development cooperation under the new BMZ 2030 strategy. Director of the MPI's Foreign Economic Relations Department Pham Hoang Mai (center) shows the signed minutes of the virtual meeting with Director for Asia at the German Federal Ministry for Economic Cooperation and Development Gisela Hammerschmidt (Photo: vneconomy.vn) During the meeting, attended by Director of the MPI's Foreign Economic Relations Department Pham Hoang Mai and Director for Asia at the German … [Read more...] about Germany pledges over EUR113.5 million in ODA for Vietnam

Director of the MPI's Foreign Economic Relations Department Pham Hoang Mai (centre) shows the signed minutes of the virtual meeting with Director for Asia at the German Federal Ministry for Economic Cooperation and Development Gisela Hammerschmidt (Photo: vneconomy.vn) Hanoi (VNA) – Germany has pledged to provide 50 million EUR (58.8 million USD) in official development assistance (ODA) loans and another 63.559 million EUR in non-refundable ODA for 14 technical assistance and investment projects in Vietnam this year. The commitment was made during a recent governmental-level meeting on the Vietnam - Germany development cooperation in 2021 held via videoconference, according to the Ministry of Planning and Investment (MPI). Among the beneficiary projects, the one on building a centre for epidemic forecasting and management proposed by the Health Ministry as an emergency response to the COVID-19 pandemic will receive 15 million EUR in non-refundable ODA. The MPI … [Read more...] about Germany pledges over 113.5 million EUR in ODA for Vietnam

In Vietnam, PropertyGuru is the parent group of Batdongsan.com.vn , one of the leading property sites in Vietnam. Upon closing, the combined company is expected to begin trading on the New York Stock Exchange. The combined company will have an enterprise value of approximately $1.35 billion and an equity value of approximately $1.78 billion at closing The transaction is expected to deliver up to $431 million of gross proceeds through the contribution of up to $299 million of cash held in Bridgetown 2’s trust account, a concurrent $100 million private investment in private equity of common stock anchored by Baillie Gifford, Naya, REA Group, Akaris Global Partners, and one of Malaysia’s largest asset managers, priced at $10.00 per share. REA Group has also committed to an additional $32 million investment. KKR, TPG Group, and REA Group will roll 100 per cent of their equity into the combined company, demonstrating their continued commitment to the company’s growth … [Read more...] about PropertyGuru plans to go public in partnership with Bridgetown 2

Golden Gate Ventures forecasts tremendous growth in the Southeast Asian startup scene, with Vietnam being one of the focal points Golden Gate Ventures highlighted Vietnam as the rising star in Southeast Asia's startup landscape. According to the latest report by the venture capital firm, Vietnam has already solidified its growing prominence in the region. In 2022, the number of Southeast Asia-focused venture capital funds will put more effort into early stage investments in Vietnam, and it will continue to grow in the next 10 years. There are five industries in Vietnam that are predicted to catch foreign investors' attention, including e-commerce, financial services, online media, online travel, and food and transport. Emerging home-grown startups include Tiki.vn, Sendo, MoMo, Giaohangnhanh (GHN), Lozi, VNPAY, and others. According to the report, capital flowing into the Southeast Asian startup scene grew phenomenally over the past decade with total capital invested per annum … [Read more...] about Vietnam to grow into third-largest startup ecosystem in Southeast Asia