Business news

Conference seeks ways for investment promotion in Quang Binh An investment promotion conference in the central province of Quang Binh was convened on August 28, focusing on presentations of the province’s potential and investment opportunities. Present at the conference were Prime Minister Nguyen Xuan Phuc and more than 800 delegates from among the leaders of ministries and departments, along with representatives of embassies, Lao provinces, commercial banks, associations, international organizations and businesses. Participating domestic and foreign organizations and businesses, through the conference, discussed investment and trade opportunities with local authorities.  The event is expected to serve as a platform for the handing over of investment registration certificates and cooperation deals to 66 projects with a combined registered capital of US$7.34 billion. Earlier, the provincial People’s Committee held a series of sideline activities, including investment … [Read more...] about BUSINESS NEWS IN BRIEF 28/8

SCB signs deal with three Hong Kong banks      Saigon Joint Stock Commercial Bank (SCB) and three Hong Kong banks on Monday signed a co-operation agreement on syndicated credit financing. Under the agreement, SCB, Hang Seng Bank Limited, Chong Hing Bank Limited and The Bank of East Asia Limited committed to support financial investment and ensure a stable financing source for Union Square Company Limited, which operates in the field of real estate. The signing was made within the framework of an investment development co-operation event held by the Viet Nam Chamber of Commerce and Industry (VCCI) in co-ordination with Hong Kong Trade Development Council (HKTDC) in HCM City on Monday. Also at the event, the four banks signed a strategic agreement for comprehensive and long-term co-operation in exchanging experience on investment and financial management, increasing business relations, conducting research and investment, and especially providing credit to local and foreign … [Read more...] about BUSINESS NEWS IN BRIEF 26/8

20th edition of Vietfish expo opens in HCM City     The country’s premier fisheries expo, the Viet Nam Fisheries International Exhibition, returns to HCM City 30 per cent larger than when it debuted in 2008.The event, hosted by the Viet Nam Association of Seafood Exporters and Producers (VASEP), opened on August 22 at the Sai Gon Exhibition and Convention Centre in District 7.In its 20th edition this year, the annual event, with the theme “Asia’s Home of Seafood”, has attracted 233 exhibitors from 14 countries and territories.The organisers said the exhibition this year has been expanded by nearly 200sq.m from last year with 7 per cent more exhibitors.Vietnamese companies are once more showing off their potential as leading fisheries exporters.Some 66 per cent of the exhibitors are domestic, organisers said.Of the participants, 55 per cent are in aquaculture and services while the remaining 45 per cent sell machinery and equipment, chemicals, … [Read more...] about BUSINESS NEWS IN BRIEF 24/8

Vietnam fisheries int’l exhibition opens in HCM City Visitors to the Vietnam Fisheries International Exhibition (Vietfish) 2018  The Vietnam Fisheries International Exhibition (Vietfish) 2018 kicked off at the Saigon Exhibition and Convention Centre in Ho Chi Minh City on August 22. The event attracts 233 exhibitors from 14 countries and territories, including 153 of Vietnam, showcasing aquatic products in 374 booths. The numbers of both exhibitors and booths increase by 6.8 percent and 3.6 percent, respectively, from last year. Vietfish 2018, lasting through August 24, also features many workshops discussing the market situation, production trends and other hot topics in the fisheries sector at present. Ngo Van Ich, Chairman of the Vietnam Association of Seafood Exporters and Producers, said over the last 20 years, Vietfish has established itself as a leading and influential fisheries exhibition in Asia as seen in the surge of exhibitors, booths and visitors. He noted … [Read more...] about BUSINESS NEWS IN BRIEF 23/8

Mekong Capital divests from Asia ChemicalsMekong Enterprise Fund II, a unit of Mekong Capital, has completely divested from Asia Chemicals Corporation (ACC) and taken in US$8.9 million, a 2.6-fold increase over its initial investment, after a seven-year holding period.According to a press release issued by Mekong Capital on August 10, in 2011, MEF II invested US$3.8 million in ACC, which was its 10th investment, after others in Mobile World Investment Group (The Gioi Di Dong), Golden Gate, Vietnam Australia International School and International Consumer Products.However, MEF II has now divested from all of its 10 earlier investments. The divestments have helped the fund generate a gross return multiple of 4.5 and a gross internal rate of return of 22.5%.Early this year, MEF II sold five million shares at Mobile World, generating a gross return multiple of 56.9 and an IRR of 61.1%, making it one of the most successful investments in Asia.Also, the fund’s full exit from Vietnam … [Read more...] about BUSINESS NEWS IN BRIEF 22/8