Vietnam investment trust

As of the end of 2018, Vietnam had 19 wholly state-owned enterprises or enterprises wherein the state held at least a 50 percent stake investing in 114 projects abroad, according to the report which was submitted to the National Assembly this week. Most of the projects are in the fields of telecommunications, oil and gas exploration and exploitation, rubber plantation, mining, banking and finance. Of the 114 projects, 84 were profitable, with a combined profit of $187 million, a 24 percent decrease compared to 2017. The remaining projects however reported significantly losses of $367 million, a 265 percent increase against 2017. Most of the losses came from investments made by military-owned telecom giant Viettel and the Vietnam Rubber Group (VRG), which accounted for losses of $349 million and $7.7 million respectively. In its report, the government said that over 60 percent of investments in the fields of telecommunications, petroleum businesses and services, construction and … [Read more...] about Overseas investments by Vietnam SOEs suffer increasing losses

Nguyen Tuan Anh, CEO of Grab Financial Group Vietnam, talks about strategies to help start-ups expand their markets at a recent event in HCM City (Source: VNA) HCM City (VNS/VNA) - Overcoming human resources problems, understanding local cultures and finding reliable partners are needed for Vietnamese start-ups to “go global,” the CEO of Grab Financial Group Vietnam Nguyen Tuan Anh has said. Speaking at a recent boot camp, a start-up training programme organised by VnExpress.net, Anh said reaching out to the world was not optional but imperative for a start-up to succeed. “You may not go global right away, but you must have a vision to do it in the next five to 10 years. “Vietnamese start-ups must conquer the global playground to increase the value, revenue and profit.” Anh was one of the first employees of the giant ride-hailing service when it entered the Vietnamese market in 2014 on the heels of its success in four other Southeast Asian countries, … [Read more...] about Start-ups must ‘go global’, says Grab’s Vietnam chief

Vietnam Textile and Apparel Association (Vitas) said the total export value of textiles, fiber, and cloth reached US$25.7 billion in the first 8 months of the year, up 8.6 per cent year on year, including 60.6 per cent from FDI enterprises. Workers at the TNG Thai Nguyen Investment and Trading JSC produce garments for export. Viet Nam’s textile export value rose almost 9 per cent in eight months of this year. The textile and garment industry spent $14.9 billion to import textile and garment materials for production, up 2.3 per cent year on year, including 62 per cent from FDI enterprises. The industry’s trade surplus in the first eight months reached $10.8 billion. According to the Ministry of Industry and Trade, domestic textile enterprises face many challenges in production and business activities. The US-China trade war has affected exchange rates, leading to higher prices of processed goods in Viet Nam compared to regional competitors such as South Korea and … [Read more...] about Vietnam’s textile export value up almost 9% in eight months

After reaching a consensus with the People’s Committee of Tay Ninh Province, the HCM City People’s Committee has petitioned the PM and Ministry of Transport for permission to call for investment for the HCM City-Moc Bai Expressway project. The HCM City – Moc Bai Expressway is expected to improve economic development in Tay Ninh Province. — Photo tphcm.chinhphu.vn The expressway, which will be nearly 53.5 kilometres long, will link Ring Road No 3 in HCM City’s Hoc Mon District with Moc Bai, an international border gate between Vietnam and Cambodia in the southeastern province of Tay Ninh. The expressway project will be divided into two investment phases under Public-Private Partnership and Build-Operate-Transfer models, according to a statement from the HCM City People’s Committee issued earlier this week. In the first phase, the entire expressway will be built with four lanes. The total capital for the phase is expected to be nearly … [Read more...] about HCM City seeks investment for HCM City-Moc Bai Expressway project

Experts believed that the government’s decision on increasing foreign holding will be a springboard for foreign investors to penetrate into the Vietnamese burgeoning market. The Vietnamese aviation market is expected to undergo significant changes next year as the government opens up more room for foreign investors in the industry amid share sale plans of domestic airlines. Under new regulations on the conditional business lines in the aviation sector, effective from January 1, 2020, Vietnam will raise the foreign ownership limit in domestic air carriers to 34% from the current 30%. Analysts from Ho Chi Minh City Securities Corporation forecast that Vietjet would be the first airline to reach the new foreign holding limit as the budget airline seeks a strategic partner by 2020. A higher foreign holding ratio will be also expected at Vietnam Airlines that will have to unload 35.19% of state holding in order to reduce state ownership to 51% from the current 86.19% under the … [Read more...] about Foreign investors grasp more control overn Vietnam’s aviation market