Vietnamese Deputy Minister of Construction Le Quang Hung (Photo: VNA) HCM City (VNA) – Vietnam and Cuba have huge potential to boost partnership in trade and investment, heard a conference held by the Vietnamese Ministry of Construction and the Cuban Ministry of Foreign Trade and Investment in Ho Chi Minh City on September 13. Vietnamese Deputy Minister of Construction Le Quang Hung said the two nations have enjoyed fruitful cooperation in various sectors, from politics, diplomacy to economy, trade, investment and culture. Thanks to efforts made by the Vietnam-Cuba Intergovernmental Committee, cooperation activities have been expanded, resulting in positive results in bilateral trade and investment. According to the Deputy Minister, two-way trade reached 335 million USD last year, a year-on-year surge of 25 percent. Vietnam is currently the second largest trade partner of Cuba in the Asian region. Several Vietnamese projects were put into operation, providing products … [Read more...] about Vietnam, Cuba promote trade, investment cooperation
Smc trading investment joint stock company
Real estate companies issue bonds massively
Amid the context that the Government continues to tighten credit, especially credit to risky fields, such as real estate and securities, real estate companies have massively issued bonds to mobilize capital in the market so as not to depend on bank loans. Noticeably, interest rates of bonds issued by real estate companies were extremely high, nearly two times higher than bank savings interest rates. Phat Dat Corporation Real Estate Development has issued VND850 billion worth of corporate bonds in three times of mobilization, of which the highest interest rate was up to 14.5 percent per annum. Novaland Investment Joint Stock Company issued VND400 billion worth of bonds in two times of issuance with interest rate of nearly 11 percent per annum. Dat Xanh Group recently issued VND200 billion worth of bonds with an interest rate of 11 percent per annum. Earlier, Ha Do Group, Van Phu Investment Joint Stock Company and Cuong Thuan IDICO Development Investment Corporation also issued bonds … [Read more...] about Real estate companies issue bonds massively
The Can Gio Tourism Urban Area Joint-Stock Company is the project investor
About 767 households raising clams in Long Hoa commune and Can Thanh town and 232 boats used for coastal fisheries will be directly affected by the project. With the expanded area, the investor has agreed to support households that will lose their farming areas, including 79 clam-raising cooperatives. The total funding for affected clam cooperatives has reached VND 123.5 billion so far. The HCM City People’s Committee is seeking approval to expand the Can Gio coastal tourist site from 600 to 2,870 hectares. Photo: ssgp.org.vn The investor will also give priority to local laborers, while creating conditions for apprenticeships or career change to ensure benefits for locals. The project is in line with the city’s housing development plan between 2016 and 2020, according to the People’s Committee. Tran Vinh Tuyen, Vice Chairman of the municipal People’s Committee, said that if the PM approves the project, HCM City would instruct authorities to … [Read more...] about The Can Gio Tourism Urban Area Joint-Stock Company is the project investor
Railway restoration project in Đà Lạt to receive PPP investment
The Đà Lạt-Tháp Chàm railway restoration project will be completed with a VNĐ17.2 trillion (US$310 million) investment in the form of a private-public-partnership (PPP). — baoninhthuan.com.vnViet Nam News NINH THUẬN — The restoration of the Tháp Chàm-Đà Lạt Railway, originally built by the French, will receive investment from a private-public-partnership (PPP). Bạch Đằng Trading-Service Joint-Stock Company announced the decision after a meeting with the Ninh Thuận Province’s People’s Committee on Wednesday. The company also provided a pre-feasibility study of the project to the People’s Committee. The project, which will have a total investment of VNĐ17.2 trillion (US$310 million), will connect Tháp ChàmSstation in Ninh Thuận Province to Đà Lạt Station in Lâm Đồng Province. The railway project will have a total … [Read more...] about Railway restoration project in Đà Lạt to receive PPP investment
Property companies look beyond banks for funds
Illustrative image (Photo: VNA) Hanoi (VNA) - Amid widespread expectations that the central bank will continue to pursue its tight credit policy, especially to risky areas like real estate, in 2019 property developers are looking at other sources for funds. Developers in Vietnam traditionally relied on two main sources for funding: loans from banks and money from their customers. However, now they are only allowed to take payments from customers when their project is between 30 and 50 percent finished. This means bank credit represents the most important source. But from January 1 next year banks will be allowed to use only 40 percent of their short-term funds for medium- and long-term loans, down from the current 45 percent. Developers are turning to the securities and bond markets, foreign investment and mergers and acquisitions. Analysts prefer the latter two considering what happened in the real estate market this year. According to the Foreign Investment Agency (FIA), … [Read more...] about Property companies look beyond banks for funds