The State Capital Investment Corporation (SCIC) successfully sold capital in 999 enterprises as of June 30, said Deputy General Director Le Song Lai during a conference on July 17. Lai said the SCIC sold all capital in 896 firms, and part in 84 others, and collected over 47 trillion VND (2.04 billion USD) from selling purchasing rights in 19 businesses, or 4.2 times higher than the prime cost. Also as of June 30, the SCIC managed a total of 144 companies with a total book value of nearly 29 trillion VND out of the chartered capital of upwards 99.5 trillion VND. SCIC General Director Nguyen Chi Thanh said as a State capital management agency and shareholder of businesses, the corporation has increasingly improved its management capacity to bring optimal results to firms. In the near future, it will work with competent authorities to fine-tune legal regulations on SCIC’s representatives in enterprises, including salaries, incentives and policies for them after State capital in … [Read more...] about State capital investment corporation successfully sells capital in nearly 1,000 firms
Vietnam investment group
Both Vietnam and Bangladesh appear to be well-positioned as clothing manufacturing hubs and will be obvious choices as clothing retailers with exposure to the US shift their production out of China. (Illustrative photo: VOV) US President Donald Trump has most recently threatened to levy new tariffs on US$300 billion worth of Chinese imports to the US. Unlike previous rounds of tariffs that largely targeted industrial and commercial products, this round is expected to cover all US imports from China and hit consumer goods such as toys, footwear, and apparel. Fitch Solutions, a macro research unit of Fitch Group, noted that on May 5 President Donald Trump announced the US would increase tariffs on US$200 billion worth of Chinese goods to 25 per cent, a rise from 10 per cent. In response, China reacted by imposing tariffs of between 5 and 25 per cent on US$60 billion of US goods. A study by the US’ National Retail Federation shows that the threatened US$300 … [Read more...] about Trade war to benefit Vietnam’s fashion sector
A group discussion of lawmakers that is part of the ongoing 8th session of the 14th-tenure National Assembly (Photo: VNA) Hanoi (VNA) – The draft law on investment in the form of public-private partnership (PPP) will be among the bills under the National Assembly (NA)’s consideration on November 19. The draft is being discussed at the plenum in the morning. Earlier, legislators gave opinions on the necessity of this law on November 11. In the afternoon, the NA will focus on a draft law on mediation and dialogue at court, and a draft law amending and supplementing some articles of the Law on Judicial Expertise. The draft law on mediation and dialogue at court consists of four chapters with 29 articles. Meanwhile, the other amends 22 articles and supplement three articles of the 2012 Law on Judicial Expertise. These are part of the ongoing 8th session of the 14th-tenure parliament./. VNA … [Read more...] about Lawmakers scrutinise bill on PPP investment
Experts warn that if state-owned enterprises (SOEs) make outward investments, the state would lose capital. Reports all show state-owned economic groups and general corporations have bad business performance and many of them have fallen into deadlock. VietinBank opens its branch in Laos The low capability of SOEs is blamed on the lack of a mechanism that promotes competition. In order to encourage competition, an economist, at a recent workshop on SOE reform, suggested a policy which forces SOEs to make outward investments. When doing this, SOEs will have to compete with rivals in the international market. If enterprises can export their products to choosy markets, this means that they have high competitive capability. When doing this, SOEs will have to compete with rivals in the international market. If enterprises can export their products to choosy markets, this means that they have high competitive capability. The economist cited China as an example. The country has … [Read more...] about Should SOEs make outward investments?
While the HUD office and Vicem buildings have partially taken shape, PVN Tower and television tower have remained on paper for years. Most skyscraper projects were drawn up nearly a decade ago when the real estate market was hot and investors dreamed of the tallest buildings, buildings with the highest numbers of stories, and the best designed buildings. In July 2010, the national oil and gas group PetroVietnam set up a team in charge of developing the PVN Tower project in Hanoi. The investor hoped that PVN Tower would become a symbol of Vietnam’s oil & gas industry. It was also expected to be ‘unique’ with 102 floors and the length of 528 meters. PVC and Ocean Group were chosen to be the contractors for the $1 billion project. PVN Tower only ranked second among the tallest buildings. The first position belonged to the proposed VTV Tower, expected to be 636 meters tall in the West Lake area in Hanoi. However, PVN Tower only ranked second among the … [Read more...] about The uncertain destiny of skyscrapers in Vietnam