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
According to Reuters, the IPO is expected to be conducted in November, however, HDBank has yet to disclose the official date.Unlike other lenders in Vietnam, the bank does not seek a single strategic investor who would normally hold 15 per cent of the shares. Instead, it will court four overseas investors, offering less than 5 per cent of ownership to each. At present, numerous foreign investors from Hong Kong, Japan, and South Korea expressed interest in becoming HDBank’s foreign investors.The pre-listing share sale is expected to raise $300 million for the bank, which counts Vietnam’s first female billionaire Nguyen Thi Phuong Thao as its major shareholder.After completing the auction, HDBank said that it would list on the Ho Chi Minh City Stock Exchange in early 2018.HDBank reported bright business results. For the first nine months of 2017, HDBank reaped VND1.91 trillion ($84 million) in pre-tax profit, of which the parent bank earned VND1.7 trillion ($74.8 milion). … [Read more...] about HDBank offers 20 per cent to foreign investors this month
Singaporean firms have to date invested in 104 projects in the city of Hanoi at a price of USD3.2 billion. The Mulberry Lane in Ha Dong Distirct, Hanoi is one of many projects invested by Singapore\'s CapitaLand in Vietnam. According to Nguyen Si Hien, Director of Hanoi Information and Investment Promotion Centre under Authority for Hanoi Industrial Zones (IZs) & Export Processing Zones, the numbers mean that Singapore is the second largest foreign investor in the city behind South Korea. 11 projects totaling nearly USD100 million are located in IZs focusing on the areas of garment and textiles, electronics and engineering. Hien added that this figure remains modest compared to great investment potential between Singapore companies and Vietnam’s IZs in general and Hanoi’s in particular. He disclosed that, … [Read more...] about Singapore Hanoi’s second-biggest foreign investor