HCM City authorities told members of the foreign community at a meeting on last Saturday that they warmly welcomed foreign investment that has significantly contributed to the city’s sustainable and rapid growth. Speaking at a meeting with city leaders and foreign investors, the city’s Party Secretary Nguyen Thien Nhan said that HCM City was striving to improve the business environment for foreign investors. Last year, the city achieved economic growth of 8.25 per cent, 1.25 times higher than the national average, with a contribution of 22 per cent to the national budget. “The business environment has been improved greatly. In 2017, there were 41,629 newly established enterprises with total registered capital of VND604 trillion (US$26.5 billion),” Nhan said. Thanks to administrative reform, there were 845 foreign projects with total registered capital of US$6.6 billion, an increase of 90 per cent in comparison with 2016. “The city greatly appreciates the … [Read more...] about City calls for foreign investors to further contribute to sustainable growth
Foreign investors
TPBank could issue convertible bonds to foreign investors
As TPBank has virtually no room left for foreign investors, the bank is thinking of issuing convertible bonds to interested parties to whip up more capital. Bui Thi Thanh Huong, TPBank deputy general director, said at the bank’s pre-listing seminar held in Hanoi on April 12 that following its private placement of 15 per cent holding to investors, there is only 0.77 per cent left for foreign investors. Singapore-based SBI Ven Holdings Pte., Ltd. who has been holding 19.9 per cent of TPBank’s holdings for some 10 years, according to Huong, has acquired more shares through a private placement to maintain their current shareholding. Also, with IFC and PYN Fund Management who each secured 4.99 per cent, the room left for foreign investors is very small. As a temporary measure, TPBank could issue convertible bonds to foreign investors “We expect the government will lift the foreign ownership limit (FOL) in the banking sector in the future and should this come … [Read more...] about TPBank could issue convertible bonds to foreign investors
More ‘golden land plots’ sought by foreign investors
VietNamNet Bridge - Cash from Chinese investors continues to flow into Vietnam via large-scale M&A deals, especially in the real estate market. Foreign investors are eyeing 'golden land plots' in Vietnam Hongkong Land has announced it has acquired 70 percent of benefits in a project on Nguyen Dinh Chieu street in district 1 of HCM City. The housing project covers an area of 0.5 hectares with total construction floor area of 57,000 square meters. It is expected to provide 530 high-end apartments and hit the market by 2021. The land plot is estimated to be valued at no less than VND1.4 trillion. Prior to that, Hongkong Land signed a 50/50 profit sharing contract with Son Kim Land to implement the high-end project The Nassim. An unfamiliar name has emerged in the real estate market: Alpha King. Nhip Cau Dau Tu quoted sources who said Alpha King has acquired the valuable Ngan Binh Complex project located at the Nguyen Cu Trinh – Cong Quynh street corner in … [Read more...] about More ‘golden land plots’ sought by foreign investors
Foreign investors eyeing notorious Chu Lai Soda processing plant
Numerous investors, including foreign investors, intend to invest in the suspended Chu Lai Soda processing plant invested by Chu Lai Soda Processing JSC, despite its debts exceeding VND3 trillion ($131.58 million). Numerous foreign investors eyes notorious Chu Lai Soda processing plant This is part of a report the Quang Nam People’s Committee submitted to the prime minister. According to the report, Chu Lai Soda has increased co-operation with banks to find a way to resume the plant’s operation as soon as they can. Representatives of Chu Lai Soda and banks to which Chu Lai Soda owes money, arrived to China to join a working session with China Tianchen Engineering Corporation (TCC) and another Chinese firm to discuss plans to resume the plant. According to the Quang Nam People’s Committee, at the date that the plant came into pilot operation, numerous technical problems had yet to be surmounted, causing the consecutive environmental incidents. The investor … [Read more...] about Foreign investors eyeing notorious Chu Lai Soda processing plant
Foreign investors flock to Lien Chieu deep seaport
Although the construction of Lien Chieu port in Danang city has just been appraised, domestic and foreign investors are already interested in the project. Danang wants to construct Lien Chieu Port to facilitate cargo transport Boskalis Inter A.V is the newest foreign investor that expressed interest in the project. Wanter Jacobs, regional business manager of Boskalis, said in the document sent to the Ministry of Transport that the investor wants to join component A–general infrastructure. Boskalis will collaborate with T&T Group to deploy this project, particularly in conducting the feasibility study, design, and build general infrastructure system in component A. Boskalis was founded in Netherlands in 1910, and provides dredging, offshore energy, and maritime services across the globe. Its projects cover 75 countries on six continents, and the corporation has a fleet of more than 1,100 ships and 15,600 professionals. The chances of Boskalis-T&T venture joining … [Read more...] about Foreign investors flock to Lien Chieu deep seaport