Foreign investors are offered a maximum of 296.46 million shares in Becamex IDC Corporation (Becamex IDC) at the second auction which is expected to be held on January 3, 2018. Becamex IDC's second auction will take place on January 3, 2018According to information published on the company website, Becamex IDC will offer these shares at the initial price of VND31,000 ($1.35) apiece, the same price as at the first auction.Earlier on December 1, Becamex IDC put 311.2 million shares, equalling 23.6 per cent of its charter capital, on sale at its initial public offering (IPO). As a result, 149 of 158 registered investors won in the bidding with the highest and lowest buying prices of VND40,000 ($1.76-1.35) and VND31,000 per share.After the bidding, Becamex IDC only acquired VND587.7 billion ($25.87 million) from selling 18.9 million shares or 6 per cent of the offered share volume.The reason behind so many shares being unmarketable was the corporation’s apathy in communications as … [Read more...] about Foreign investors offered 296.46 million remaining Becamex shares on January 3
The Vietnamese official made the statement during his meeting in Hanoi on Wednesday with Paul Greenwood, Vice President of Africa and Asia Pacific Business Development at Exxon Mobil Gas and Power Marketing. Hue added that Vietnam is pushing forward to improve its business climate and competitiveness to attract new foreign investors with technical and financial capacity to Vietnam. Greenwood said that the corporation will continue to cooperate with its Vietnamese partners. … [Read more...] about Deputy PM: Vietnam creates favorable conditions for foreign investors
The Vietnamese official made the statement during his meeting in Hanoi on December 20 with Paul Greenwood, Vice President of Africa and Asia Pacific Business Development at Exxon Mobil Gas and Power Marketing. He also thanked Exxon Mobil’s support for Vietnam to successfully host the APEC 2017 Economic Leaders’ Meetings. Vietnam is pushing forward with efforts to improve its business climate and competitiveness in order to attract new foreign investors with technical and financial capacity to the country, Hue voiced his hope that Exxon Mobil will continue to expand its investment in Vietnam. In reply, Greenwood affirmed that the corporation will continue to cooperate with Vietnamese partners in the coming time. … [Read more...] about Vietnam creates optimal conditions for foreign investors: Deputy PM Most Recent News
VietNamNet Bridge - Analysts have warned that strong brands may disappear once foreign investors buy into Vietnamese companies. MOIT has announced the sale of 343.66 million Sabeco shares The Ministry of Industry and Trade (MOIT) has announced the sale of 343.66 million Sabeco (Sai Gon Beer, Alcohol and Beverage Corporation) shares at the starting price of VND320,000 per share. The market value of the State’s 53.59 percent stake is estimated at VND87.4 trillion ($3.85 billion). With the share price described as ‘sky high’, the divestment deal worth VND11 trillion is reserved only for investors with powerful financial capability. With the share price described as ‘sky high’, the divestment deal worth VND11 trillion is reserved only for investors with powerful financial capability. Those making financial investments to seek profit won’t be interested in the deal because of the price. The investors interested in Sabeco shares aim … [Read more...] about What will foreign investors do with strong Vietnamese brands?
The statement was made by Adam Sitkoff, executive director of the American Chamber of Commerce (AmCham) during a workshop on “Challenges of policy and regulatory changes for foreign investors in Vietnam”, co-organised by AmCham, the Vietnam Chamber of Commerce and Industry (VCCI) and the Ministry of Planning and Investment’s Foreign Investment Agency in Hanoi on December 7.Nguyen Mai, chairman of Vietnam Foreign Investment Enterprises (VAFIE) said the economic statistics in Vietnam clearly show the importance of foreign investment in the economy, adding that so far Vietnam has attracted foreign investors from more than 100 countries and territories with investment capital pouring into the country totalling US$165 billion.Foreign direct investment (FDI) enterprises contributed some 19% of domestic revenue, 19% of GDP and more than 70% of export turnover in 2017, Mai said.However, Mai shared Sitkoff’s view that there was a lack of consistency and transparency in … [Read more...] about Policy changes pose obstacles for foreign investors