Azerbaijani investors eye Vietnamese marketAzerbaijani investors with strong financial capacity and professional performance are keen on landing investments in Vietnam, has said Anar Imanov, Azerbaijani Ambassador to Vietnam.In his remarks at a recent workshop themed “Meet Azerbaijan” in Hanoi, the Azerbaijani Ambassador highlighted Azerbaijani enterprises' advantage of plentiful capital and practical experience in implementing projects in Europe, adding that many are seeking investment opportunities in Vietnam.As one of the world’s leading crucial oil and gas producers and suppliers, Azerbaijan also has great potential to boost its bilateral cooperation with Vietnam in three key fields, including tourism, logistics, and agriculture. The diplomat cited a FAM tour jointly held by the Azerbaijan Embassy in Vietnam and Qatar Airways last year as a big effort to bolster tourism cooperation between the two countries.The FAM tour provided many Vietnamese tourism … [Read more...] about BUSINESS NEWS IN BRIEF 15/1
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A banker’s woe: Chinese wealth may get harder to snag for global bankers
A banker's woe: Chinese wealth may get harder to snag for global bankersThe Saigon Times Daily An investor watches a board showing stock information at a brokerage office in Beijing, China October 8, 2018 – PHOTO: REUTERS HONG KONG/SHANGHAI (REUTERS) - News of a foreign wealth manager being denied exit from China last week is raising concerns for global private banks, as they seek to tap trillions of dollars of wealth offshore in the face of Beijing’s growing curbs on overseas investments and outflows. The banker, a Singapore-based member of UBS wealth management business, was prevented from leaving Beijing and asked to meet local officials this week. Her identity is not known yet. Although the purpose of the meeting is not publicly known, the news still led several banks including UBS, Citigroup, JPMorgan, Standard Chartered and BNP Paribas to ask private bankers to reconsider travel to China, people familiar with the matter said on Monday. The Swiss bank on … [Read more...] about A banker’s woe: Chinese wealth may get harder to snag for global bankers
Vietnamese spend billions on realty abroad
Vietnamese buyers spent $3 billion on homes in the US between April 2016 and March 2017, showing the interest of Vietnamese people in this segment, but also raising the question of how such large amounts of money could be transferred abroad. According to the US National Association of Realtors (NAR), this recently-released number propelled Vietnam into the top 10 of countries with buyers in US real estate during this one-year period. According to Pham Do Chung Thuy, vice president and country treasurer of Bangkok Bank, the Vietnamese government has not outright banned transferring money abroad to buy homes, while detailed guidelines on how to transfer have not been released either. “This is one of the challenges for buyers and bankers when they are involved in any case of money being transferred to buy property abroad,” Thuy said. According to her, a deal to buy property abroad is seen as an investment abroad and thus regulated by the Law on Investment, under which … [Read more...] about Vietnamese spend billions on realty abroad
Locals spend billions on realty abroad
According to the US National Association of Realtors (NAR), this recently-released number propelled Vietnam into the top 10 of countries with buyers in US real estate during this one-year period. According to Pham Do Chung Thuy, vice president and country treasurer of Bangkok Bank, the Vietnamese government has not outright banned transferring money abroad to buy homes, while detailed guidelines on how to transfer have not been released either. “This is one of the challenges for buyers and bankers when they are involved in any case of money being transferred to buy property abroad,” Thuy said. According to her, a deal to buy property abroad is seen as an investment abroad and thus regulated by the Law on Investment, under which companies and individuals are permitted to set up an investment abroad. Bangkok Bank and other banks are using this law to support buyers. Despite the foreseen risks of buying homes abroad, many Vietnamese people are still paying millions of dollars … [Read more...] about Locals spend billions on realty abroad
(typing) Locals spend billions on realty abroad
According to the US National Association of Realtors (NAR), this recently-released number propelled Vietnam into the top 10 of countries with buyers in US real estate during this one-year period. According to Pham Do Chung Thuy, vice president and country treasurer of Bangkok Bank, the Vietnamese government has not outright banned transferring money abroad to buy homes, while detailed guidelines on how to transfer have not been released either. “This is one of the challenges for buyers and bankers when they are involved in any case of money being transferred to buy property abroad,” Thuy said. According to her, a deal to buy property abroad is seen as an investment abroad and thus regulated by the Law on Investment, under which companies and individuals are permitted to set up an investment abroad. Bangkok Bank and other banks are using this law to support buyers. Despite the foreseen risks of buying homes abroad, many Vietnamese people are still paying millions of dollars … [Read more...] about (typing) Locals spend billions on realty abroad