4 million euro to usd

Hanoi (VNA) - The closed-end VinaCapital Vietnam Opportunity Fund (VOF) has spent 45 million USD to purchase shares of Binh Son Refining and Petrochemical Company (BSR) and PetroVietnam Power Corporation (PV Power) at their initial public offerings (IPO). The investment fund said, in its latest report published on February 13 before the Lunar New Year (Tet) holiday, that its winning price for BSR “was a discount of 4 percent, compared to the average winning price of 23,000 VND per share for the equitisation.” Thus, VOF was able to purchase about 10 percent of the available shares offered at the BSR IPO on January 17 for nearly 25 million USD. BSR sold 242 million shares at the IPO, earning some 244.5 million USD for the State. Meanwhile, VOF spent 20 million USD to purchase PV Power shares at the company’s IPO, which was held on January 31. The IPO brought in revenues of some 311 million USD for the State, after PV Power offloaded its entire 468 million shares. … [Read more...] about VinaCapital buys BSR and PV Power shares for 45 million USD

Noteworthy projects in the period included the smart city project in Dong Anh district which costs more than 4.2 billion USD, invested by a joint venture between BRG Group and Sumitomo Corporation of Japan. Hong Kong’s BeerCo Limited spent 3.85 billion USD on acquiring a stake in Vietnam Beverage Co., Ltd, a local unit of Thai Beverage Public Co., Ltd. Meanwhile, Japan’s Meiko Electronics added 200 million USD to its facility. … [Read more...] about Vietnam’s FDI inflow up in ten months

Hanoi (VNS/VNA) - For two decades, farmer To Nguyen Ho Hai in the Central Highlands province of Gia Lai grew peppers, enjoying a boon in production. Five years ago, the industry was doing so well, and the price of peppers so high, he more than doubled his investment, increasing from 900 pepper pillars to 2,000.    At the time, farmers took their profits and reinvested with prices hitting as much as 260,000 VND (11.2 USD) per kg at their peak in 2015. Hoang Phuoc Binh, Vice Chairman of the Pepper Association of Gia Lai province’s Chu Se district, recalled the time when peppers were hot in more ways than one.   “Every farmer, every household grew peppers,” he said. “The more profit they earned, the more money they poured in investing in buying land to grow more pepper.” According to Vu Ngoc An, Deputy Director of the provincial Department of Agriculture and Rural Development, when people saw households making profits of up to 500 million … [Read more...] about Quality key to pepper growth, not quantity

Hanoi (VNS/VNA) - The logistics sector is forecast to continue growing strongly this year, with expansion in both retail and e-commerce channels. The Vietnam E-commerce and Digital Economy Agency (IDEA) forecasts that the Vietnamese e-commerce market will reach 10 billion USD this year. The agency also estimated that delivery services would record a revenue growth of 30-40 percent, with the market growing 20 percent and large companies taking a bigger share. In a Google-Temasek report on e-commerce in ASEAN countries, the Vietnamese e-commerce market is estimated to increase from 4.6 billion USD last year to 23 billion USD by 2025. The strong growth of e-commerce is beneficial for other supporting industries, such as logistics and e-payment services. However, the competition in the delivery industry is high as new competitors entered the market in the 2018-19 period, such as Grab Express. The European Union − Vietnam Free Trade Agreement (EVFTA) is expected to take effect … [Read more...] about Delivery services to grow 30-40 percent in 2020

Many sectors and companies faced challenges resulting from real or perceived potential world economic downturn in 2019. What we did see in the logistics industry and specific to this market, was a cooling off of transportation volumes in terms of volume growth compared to the last 2-3 years. Equally, we saw a more balanced equilibrium in terms of supply and demand in logistics resulting in a further downturn in overall rate levels and costs to shippers and importers globally. Domestically, Vietnam enjoyed greater than average GDP growth globally, closing 2019 with an estimated +7.02%. Ultimately, these challenges resulted in price pressure and greater competition in terms of market share. … [Read more...] about Our vision is to be ‘National Champion’ in the logistics industry in Vietnam