Deputy governor of the State Bank of Vietnam Dao Minh Tu (Source: VNA) - Vietnam is persuading international financial institutions, including the Asian Development Bank (ADB), to expand their funding for the local private sector and reduce government guarantees for those activities, since Vietnam is among the countries that will stop being funded by ADB in 2019 due to becoming a middle-income economy. Deputy governor of the State Bank of Vietnam (SBV) Dao Minh Tu speaks to Vietnam News Agency's English-language newspaper Viet Nam News about these issues on the sideline of the recent ADB 51st Annual Meeting in Manila, the Philippines. Question: What has Vietnam achieved in the ADB’s 51th Annual Meeting? Answer: The meeting aimed to strengthen the bond between member countries and expand ADB’s main activities in the context of global financial volatility and various changes in economies’ trade policies. On behalf of the Vietnamese Government, we were able to … [Read more...] about Vietnam needs more ADB funding for private sector
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Việt Nam needs more ADB funding for private sector
Viet Nam News Việt Nam is persuading international financial institutions, including the Asian Development Bank (ADB), to expand their funding for the local private sector and reduce government guarantees for those activities, since Việt Nam is among the countries that will stop being funded by ADB in 2019 due to becoming a middle-income economy. Deputy governor of the State Bank of Việt Nam (SBV) Đào Minh Tú speaks to Việt Nam News about these issues on the sideline of the recent ADB 51st Annual Meeting in Manila, the Philippines . What has Việt Nam achieved in the ADB’s 51th Annual Meeting? The meeting aimed to strengthen the bond between member countries and expand ADB’s main activities in the context of global financial volatility and various changes in economies’ trade policies. On behalf of the Vietnamese Government, we were able to deliver messages to the audience addressing the country’s current … [Read more...] about Việt Nam needs more ADB funding for private sector
Trung Luong-My Thuan Expressway to get funds for construction in May
Trung Luong-My Thuan Expressway to get funds for construction in MayLe Anh The Trung Luong-My Thuan Expressway will be developed to connect to a 40-kilometer expressway connecting HCMC and Trung Luong of Tien Giang Province, which is seen in this file photo - PHOTO: LE ANH HCMC – The investor of the Trung Luong-My Thuan Expressway project is in talks with five banks to take out funds next month for developing the long-delayed project, heard a meeting between the investor and authorities last weekend. Vu Tuan Anh, deputy director of the Public-Private Partnership Department under the Ministry of Transport, told the meeting that the lack of capital is the biggest problem arising in the execution of the project. The problem is to be smoothened out soon as the investor is in talks with banks for the needed capital, Anh told the meeting between the project investor, the Ministry of Transport and Tien Giang Province’s government. The project requires a total investment … [Read more...] about Trung Luong-My Thuan Expressway to get funds for construction in May
Vĩnh Phúc seeks funds for support industry
Viet Nam News HÀ NỘI — The northern Vĩnh Phúc Province has called for investments in the automobile, motorbike and electronic production support industries, said Nguyễn Văn Trì, chairman of the provincial People’s Committee. Statistics from the management board of the province’s industrial zone (IZ) in the first quarter of the year show that licences were granted to nine new foreign direct investment (FDI) projects with total registered capital of US$45.11 million, meeting 17 per cent of the whole year’s target. It also granted licences to two domestic direct investment (DDI) projects with total registered capital of VNĐ85.9 billion, increasing by 4.3 times from the same period last year. Some 10 out of the 11 new projects were for electronic spare parts production and the remaining was for mechanic manufacturing. So far, the province has 246 projects in its industrial zones, including 46 DDI and 200 FDI projects. … [Read more...] about Vĩnh Phúc seeks funds for support industry
Detailed regulation on funds for innovative startup introduced
Accordingly, investors can raise capital for a startup fund in Vietnam dong, gold, land use right, and other assets that can be valued in Vietnam dong. However, they are not allowed to use loans to contribute to any innovative startup fund. Regarding investment activities, the Decree states that investors cannot deposit more than 50 percent of the charter capital of small and medium startup and innovative firms. All the capital contributions and assets of investors of a fund must be audited independently from their fund management company. All investors of a fund arrange among themselves the right to decide investment fields, which must be clearly stated in the fund regulations as well as the contract between investors with their fund management company if available. In addition, investors of a fund can found or hire a fund management company who will be responsible for procedures to set up the fund and announcements on additional investment sectors and … [Read more...] about Detailed regulation on funds for innovative startup introduced