Customers make bank transactions at Construction Bank branch in Hanoi. (Photo courtesy of the bank) Hanoi (VNS/VNA) - Foreign financial institutions were eyeing up poorly-performing Vietnamese banks after being given the green light to acquire stakes in local institutions in a move to speed up the restructuring of the country’s banking industry, according to banking expert Nguyen Tri Hieu. M&As in the banking industry had remained quiet for the past two years after witnessing a record from 2011-2016. However, Hieu said things were warming up this year as the Government wanted to speed up the restructuring of ailing banks while small banks also had to increase capital to meet the State Bank of Vietnam (SBV)’s Basel II regulations by 2020. “The Vietnamese financial market holds a lot of potential, but license applications to establish a bank are very difficult, so purchasing shares in local banks or acquiring a 100 percent stake in ailing … [Read more...] about Foreign investors set sights on poorly-performing banks
Foreign investors in brazil
Foreign investors set their sights on poorly-performing banks
Customers make bank transactions at Construction Bank branch in Hà Nội. Photo courtesy of the bank HÀ NỘI— Foreign financial institutions were eyeing up poorly-performing Vietnamese banks after being given the green light to acquire stakes in local institutions in a move to speed up the restructuring of the country’s banking industry, according to banking expert Nguyễn Trí Hiếu. M&As in the banking industry had remained quiet for the past two years after witnessing a record from 2011-16. However, Hiếu said things were warming up this year as the Government wanted to speed up the restructuring of ailing banks while small banks also had to increase capital to meet the SBV’s Basel II regulations by 2020. “The Vietnamese financial market holds a lot of potential, but license applications to establish a bank are very difficult, so purchasing shares in local banks or acquiring a 100 per cent stake in ailing … [Read more...] about Foreign investors set their sights on poorly-performing banks
Foreign investors push Vietnam among top five for private participation in infrastructure
The Hanoitimes - Vietnam’s commitment to reducing its reliance on coal-fired power and to dealing with environmental issues has resulted in an increased focus on investment in the renewable-energy sector. Rising investment of the private sector, especially of foreign firms, into Vietnam’s infrastructure projects has helped the country make its debut as a top-five country for private participation in infrastructure (PPI) in the first half of this year. Vietnam was the leader in new electricity-generation projects in H1 2018 According to a World Bank (WB) report released this week, thirty-four countries received PPI investments in the first half of 2018, with the top five countries – China, Turkey, India, Vietnam and Brazil – accounting for 66 percent of the global total, 10 percent higher than in 2017. The top five countries attracted US$28.9 billion of PPI investment capital in H1 2018, of which China lured US$11.6 billion across 37 projects; … [Read more...] about Foreign investors push Vietnam among top five for private participation in infrastructure
BUSINESS NEWS IN BRIEF 14/8
Hong Kong calls for investment from Vietnam Hong Kong is currently an ideal destination for Vietnamese firms to expand operations abroad, heard a round-table seminar in Ho Chi Minh City on August 13. Vo Tan Thanh, Director of the Vietnam Chamber of Commerce and Industry (VCCI)’s Ho Chi Minh City Branch, held that Vietnam and Hong Kong are key major trade partners of each other with bilateral trade reaching 9.2 billion USD in 2017, up 22 percent from 2016. As of June 2018, Hong Kong was the sixth largest foreign investor in Vietnam with a total capital of nearly 19 billion USD, he said. With the ASEAN-Hong Kong free trade agreement, trade and investment between Vietnam and Hong Kong are both expected to grow fiercely in the near future. Vietnam is encouraging firms to expand investment abroad to popularise Vietnamese products across the world. Thanh hailed Hong Kong as a free, developed economy with a strategic location, modern infrastructure, and large capital … [Read more...] about BUSINESS NEWS IN BRIEF 14/8
Brazil, Singapore ink double taxation avoidance deal
Singaporean Minister of Foreign Affairs Vivian Balakrishnan (R) and Brazilian counterpart Aloysio Nunes Ferreira after the signing of the Avoidance of Double Taxation Agreement on May 7, 2018 (Source: www.straitstimes.com) Buenos Aires (VNA) – Brazil and Singapore have signed a double taxation avoidance agreement and are considering the possibility of signing a free trade agreement (FTA) between Singapore and Mercosur, the South America trade bloc. According to a statement released by the Brazilian Ministry of Foreign Affairs on May 8, the agreement was inked by Singaporean Minister of Foreign Affairs Vivian Balakrishnan and his Brazilian counterpart Aloysio Nunes Ferreira. The deal aims to prevent tax evasion and taxes paid twice on the same source of income of people staying in the two countries as well as foster bilateral investment. In a meeting held in Singapore, the foreign ministers underlined the development of bilateral trade cooperation in recent years. They … [Read more...] about Brazil, Singapore ink double taxation avoidance deal