Investing

Workers at Hoa Cam industrial zone (Photo: VNA) Da Nang (VNA) – The central city of Da Nang has attracted 11 investment projects into its industrial and hi-tech parks since the beginning of this year, including three FDI projects worth 145.3 million USD and eight domestic-invested ones totaling 188.4 billion VND (8.2 million USD). This is an encouraging achievement for the city’s investment promotion amidst complicated developments of the COVID-19 pandemic, which has greatly affects domestic and international production and business, said Pham Truong Son, head of the management board of Da Nang ’s industrial and hi-tech parks, on June 23. To date, industrial and hi-tech parks in the city have attracted 499 projects, of which 368 are domestic-invested, with a total capital of nearly 26.7 trillion VND, and 131 are foreign-invested, with a total investment of 1.74 billion USD. To help enterprises maintain production and business but still ensure the safety of employees, … [Read more...] about Da Nang draws 11 more investment projects in industrial, hi-tech parks

KAB is looking to capitalise on the growing energy demand in Vietnam As reported by Focus Malaysia , KAB Energy Power and Janakuasa will form a special purpose vehicle to scoop up the majority stakes in three hydropower plant projects in the country with an aggregate installed capacity of 180MW. The projects have existing power purchase agreements (PPA) with Electricity of Vietnam (EVN) which will expire between January 2030 and 2039. They have commenced commercial operations between 2015 and 2019 Janakuasa, an established private energy investor based in Malaysia and Singapore, is a leading investor in thermal power and renewable energy in Vietnam. Janakuasa has been developing the Ecotech wind farm project since 2015. To date, Janakuasa has over 1,000MW of power projects under construction in Vietnam and a further 300MW of wind and 200MW of mini hydro projects in development. Janakuasa is teaming up with its partners to construct two power plants in Vietnam, including a … [Read more...] about Malaysia’s KAB ventures into Vietnam’s renewable energy market

Hung Thinh Corporation, the developer of Hai Giang Merry Land Quy Nhon, the largest tourism complex in Binh Dinh province, has rejected the news that Macau’s leading entertainment SJM Holdings Limited was proposing to participate in this project. Answering questions raised by VIR on this issue, Truong Van Viet, vice chairman of Hung Thinh Corporation confirmed that Hung Thinh so far has not yet any direct contact, meeting, or signing any agreement with SJM Holdings Limited on the involvement in this project. Viet added that the company is now developing the Hai Giang Merry Land located in Quy Nhon city and it is now calling other partners to co-develop this project. “With the large scale and potential of the Merry Land project, it is now interested by many large-scale foreign partners. Hung Thinh Corporation is opening up the cooperation opportunities for any feasible partners to go with us in this project,” Viet said. Due to the COVID-19 pandemic, only foreign partners with … [Read more...] about Uncertainty covers the involvement of SJM Holdings in a $6 billion project in Binh Dinh

Local stocks experience gloomy trading day The Saigon Times An investor browses his mobile phone while sitting in front of stock information screens. The local stock market ended lower today, June 23 - PHOTO: VNA HCMC – Thanks to the support of securities stocks and largecaps in the banking sector, the benchmark VN-Index of the HCMC stock market only fell slightly amid lackluster trading today, June 23. At the close, the main index shed 3.1 points, or 0.22% against the previous session at 1,376.87, with 94 stocks rising and up to 298 others dropping. Turnover on the southern bourse continued its downward trend, contracting 4.8% in volume and 5.7% in value at over 710 million shares and more than VND21 trillion. Shares traded in block deals contributed VND2.050 trillion to the overall value. In the group of bank stocks, largecaps extended rally which helped the VN-Index to avoid a deep decline. Private lender VPB was the biggest winner as it soared 4.5% with … [Read more...] about Local stocks experience gloomy trading day

South Korea is Vietnam’s biggest investor and second-largest trade partner. Foreign ministers of Vietnam and South Korea discussed different fields for enhanced bilateral relations when they met in Hanoi on June 23, focusing on economic ties, manpower, tourism, people-to-people links. South Korea's Foreign Minister Chung Eui-yong (L) and Vietnam's Foreign Minister Bui Thanh Son in Hanoi on June 23. Photos: Baoquocte The South Korean foreign minister visited Vietnam on June 21-23 to attend the Asia-Europe Meeting (ASEM)’s High-level Policy Dialogue held in Hanoi. At talks with his South Korean counterpart Chung Eui-yong, Vietnamese Foreign Minister Bui Thanh Son expressed his delight at the fruitful development of Vietnam-South Korea relations in all fields in recent years, affirming that Vietnam always attaches importance to its relations with South Korea, considering the country as one of its top partners. In terms of investment, South Korea is Vietnam’s … [Read more...] about Vietnam and South Korea discuss comprehensive ties

Vietnam said it has relaxed quarantine rules for foreign businessmen. Roughly 570 businesspeople from South Korea will arrive in Vietnam today [July 22] as the two countries make efforts to facilitate economic activities in the face of economic slowdown in the Southeast Asian country. South Korean experts arrive in Vietnam. Photo: Bsr.com.vn The businessmen will come to Vietnam on chartered airplanes, Yonhap News Agency cited the South Korean Ministry of Trade, Industry and Energy (MOTIE). MOTIE said a group of more than 1,500 people will also be sent to Vietnam throughout August. According to MOTIE, Vietnam was South Korea’s third largest export destination in 2019. Meanwhile, statistics by Vietnam’s Ministry of Planning and Investment showed that South Korea was Vietnam's biggest investor in the same year with US$7.92 billion worth of foreign direct investment (FDI), accounting for 20.8% of the Southeast Asian country’s FDI in 2019. Big South Korean … [Read more...] about 570 South Korean businesspeople to arrive Vietnam today