Investment trust fund

Vietnam’s biggest conglomerate Vingroup and largest private lender Techcombank have been given the green light to conduct a pre-feasibility study on the Gia Nghia - Chon Thanh expressway. The consortium will have to submit its report by Aug. 31, according to the Ministry of Transport (MoT). Once the report is appraised and approved, the MoT will start a bid to select investors for the expressway, with Vingroup-Techcombank able to participate in the process should they want to. The expressway will stretch 212 kilometers with four-six lanes and a maximum speed of 80-100 kph. It will connect Central Highland Dak Nong and southern Binh Phuoc provinces. Another consortium, led by Deo Ca Corporation, has proposed to invest in two expressway projects in the north, Dong Dang - Tra Linh and Huu Nghi - Lang Son. Workers construct the 98-kilometers Cam Lo - La Son expressway connecting central Quang Tri and Thua Thien Hue provinces, February 2021. Photo by VnExpress/Vo Thanh … [Read more...] about Private firms eager to invest in expressways

It was necessary to improve the legal framework for REITs so that investors could feel secure in investing. — VNA/VNS Photo HÀ NỘI — Việt Nam needs to improve the legal framework to promote the development of real estate investment trusts (REITs) to add capital to the property market while bank credit and corporate bond issuance were being tightened. According to the Việt Nam Association of Realtors, property developers mainly raised capital from stakeholders, bank credit and corporate bond issuance. The tightening of bank credit and corporate bond issuance would force them to look for alternatives and REITs were predicted to become more popular as a capital raising channel for developers, the association said. REIT was a form of capital contribution for one or a porfolio of real estate projects, real estate enterprises by individuals and organisations through the buying of shares or fund certificates and getting returns based on the performance of the real estate … [Read more...] about It’s time to promote the development of REITs: association

Both additionally-registered and share purchasing of FDI rose strongly in the first five months According to the Ministry of Planning and Investment's Foreign Investment Agency, Vietnam counted newly-registed FDI inflows of about $11.7 billion in the first five months, equivalent to 83.7 per cent of the previous year's total. Of this, $4.12 billion was poured into 578 newly-licensed projects, a slight decrease of 5.7 per cent in the number of projects, and a sharp reduction of 53.4 per cent in value. $5.61 billion was added to 395 projects currently underway, a rise of 45.4 per cent in value and 15.5 per cent in number. Overseas investors also poured almost $2 billion into just over 1,300 share purchase deals, an increase of 51.6 per cent over the same period last year. FDI disbursement climbed slightly by 7.8 per cent on-year to $7.7 billion. Almost 35,000 valid foreign-invested projects were accumulated across the country with the total registered capital of $426 … [Read more...] about FDI grow strongly in the first five months

The AFD and EU have been actively supporting Vietnam in the areas of climate change mitigation and adaptation. Vietnam will receive financial aid from the EU and the Agence Française de Développement (AFD) to reduce the vulnerability to climate hazards in several towns in four northern and central provinces. The project is jointly co-financed with a EUR5 million (US$5.36 million) grant from the EU, a EUR123 million ($132 million) ODA loan from the AFD, and EUR 28 million ($30 million) from provincial budgets. The principal goal is to help localities adapt to climate change and recover from natural disasters such as flooding, typhoons, and drought. Delegates attend the launching ceremony. Photo: the Embassy of France in Vietnam The regional towns include Phat Diem in the northern province of Ninh Binh, Ngoc Lac in the central province of Thanh Hoa, and Hoang Mai in the central province of Nghe An, Huong Khe, and Thach Ha in the central province of Ha Tinh. … [Read more...] about AFD, EU strengthen urban climate resilience in Vietnam

Hanoi, (VNA) - The following is a list of selected news summaries last night by the Vietnam News Agency. – Senior Party officials of Vietnam and Cuba have agreed that amid the COVID-19 pandemic, regular meetings and exchanges between the two Parties and countries vividly demonstrate their special friendship. Vo Van Thuong, Politburo member and permanent member of the Secretariat of the Communist Party of Vietnam (CPV) Central Committee held online talks with Roberto Morales Ojeda, Politburo member and permanent member of the Secretariat of the Communist Party of Cuba (PCC) Central Committee on May 26. Read full story - Asia needs to play a greater role in maintaining and fostering a peaceful and stable environment conducive to development and prosperity in the region and beyond, on the shared basis of cooperation, understanding, trust and responsibility, Standing Deputy Prime Minister Pham Binh Minh has said. Minh made the suggestion while delivering his remarks at the 27th … [Read more...] about ☀ Morning digest on May 27

S&P forecast Vietnam’s GDP will grow 6.9% in 2022 before settling closer to its long-term trend of growing 6.5%-7% from 2023 onward. S&P Global Ratings on May 26 raised its long-term foreign and local currency sovereign credit ratings on Vietnam to 'BB+' from 'BB'. S&P expects Vietnam's economy to continue its upward trend. Source: S&P The rating agency also affirmed the country’s short-term rating at ‘B’ with a stable outlook. “The stable outlook reflects our expectations that over the next 12-24 months, Vietnam's economy will continue to recover from the challenges posed by the pandemic over the past two years. This will support the external position and rein in fiscal deficits,” it noted. S&P added it could raise the ratings if Vietnam's institutional settings improve considerably, in ways that augment policy predictability and transparency. Such favorable changes in the policy environment could bolster investor confidence in the … [Read more...] about Vietnam’s long-term credit rating upgraded to “BB+”: S&P