Localities in the Mekong Delta region have called for investment in 63 projects related to industry, tourism, agriculture and logistics infrastructure, with total capital of VND250 trillion (US$10.71 billion). The projects were announced at the 6th Annual Mekong Delta Investment Forum (MekongInvest) 2018 in Can Tho City, hosted by the Viet Nam Chamber of Commerce and Industry (VCCI) – Can Tho branch on November 3. The forum, which connected Japanese investors with the 13 provinces of the Mekong Delta, drew more than 150 Japanese enterprises as well as local trade promotion agencies and businesses. Cooperation potential in tourism and agriculture were the main topics discussed by participants. Vu Tien Loc, VCCI’s chairman, said the region aimed to have 52 million visitors with total revenue of VND111 trillion, under the tourism development plan for the Mekong Delta approved in 2016 by the Prime Minister. However, although the number of foreign tourists to Viet Nam has grown … [Read more...] about Mekong Delta calls for Japanese investment in tourism, agriculture
Investment activities cash flow
Stronger capital flow from Singapore
Jazreel Lim Trade and business links between Singapore and Vietnam have always been robust, ever since the countries established bilateral diplomatic relations back in 1973. Singapore has consistently been among the top five foreign investors in Vietnam by value of new investments. According to Vietnam’s General Statistics Office (GSO), Singapore ranked second in 2016, third in 2017, and continued to keep its position in the first seven months of 2018. Broadly speaking, real estate and construction, education, manufacturing, infrastructure, and healthcare have traditionally been the big magnets in the Vietnamese market. Since the signing of the Vietnam-Singapore Economic Connectivity Agreement in 2005, the level of collaboration and mutual business opportunities from the segments of transportation, investment, trade, and services is evident. Singaporean companies boast great achievements in Vietnam. Successful stories include CapitaLand, with its famous projects (The Vista, … [Read more...] about Stronger capital flow from Singapore
Vietnam investment: hectic M&A in 2018
At the Savills Hanoi, Danang, and Ho Chi Minh offices, we see many investor groups every day, mostly new entrants, who are keen to explore opportunities.This interest is mainly coming from the region – Japan, Korea, China, Hong Kong, Singapore – though U.S., European and global funds are also investigating a lot. In the first half of the year, the Vietnamese economy grew at over 7 percent year-on-year, the highest rate in seven years. All commercial and residential sectors are targets. The latter is still very hot across the country; large investor groups, particularly Chinese and Japanese, are investing heavily in large new urban areas. One major example, which accounted for a huge chunk of the FDI in the first half of the year, is the SmartCity project in Hanoi, a 271ha modern residential and commercial township jointly developed by four local investors and Japan’s Sumitomo Corporation. The first phase is planned to commence in the third quarter of this … [Read more...] about Vietnam investment: hectic M&A in 2018
Credit institutions undergo drastic restructuring
The banking industry is drastically restructuring credit institutions (CIs) in combination with bad debt settlement to ensure their safe, healthy and sustained growth. — Photo thesaigontimes.vn HÀ NỘI — The banking industry is drastically restructuring credit institutions (CIs) in combination with bad debt settlement to ensure their safe, healthy and sustained growth. Deputy Governor of State Bank of Việt Nam Nguyễn Kim Anh said this at a forum on the banking industry towards sustained growth, held in Hà Nội on May 8. According to Anh, the restructuring of CIs has so far been positive with the non-performing loans (NPL) ratio of the entire banking system being kept at below 3 per cent. To ensure the sustained growth of the banking industry, SBV will soon finalise the appraisal and approval of CIs’ restructuring plans besides closely supervising the operation of CIs, especially ailing ones, to timely take actions. The central … [Read more...] about Credit institutions undergo drastic restructuring
Stocks set to break its all-time record
Investors during a trading session at the HCM Stock Exchange. — Photo www.vietnambiz.vn Vietnamese stocks are expected to rise further with the benchmark VN-Index forecast to surpass its all-time peak of 1,170 in 2007 on rising investor confidence in the market outlook, analysts say. The benchmark VN-Index gained 2.49 per cent to close at 1,102.85 points on Friday, after dropping 1.02 per cent to finish at 1,076.03 points on Thursday. The southern market index gained 4.07 per cent in three sessions last week. The HNX Index on the Ha Noi Stock Exchange rose 1.24 per cent to end at 126.24 points, recovering from its one-day decline of 0.92 per cent to end the session at 124.70 points on Thursday. The two stock indices witnessed a weekly rise of 4.07 per cent and 1.55 per cent, respectively, as money flowed into large-cap stocks, driving up the market. An average of more than 239.82 million shares were traded in each session, worth VND6.8 trillion (US$298.5 million). The UPCOM … [Read more...] about Stocks set to break its all-time record