Investment

The Warburg Pincus Consortium has just spent USD 200 million to buy a 20% share in Vingroup's Vincom Retail, a leading real estate developer in Vietnam.    The Vincom Mega Mall - Royal City will be opened in July This is also the biggest investment from a foreign equity group into a Vietnamese company. Established in 1966, Warburg Pincus, a New York-based group, is managing assets worth USD40 billion globally and currently has investments in 35 countries. Warburg Pincus has the right to invest USD25 million for Vingroup's IPO in the international market in the future and an additional USD100 million for future expansion or any retail related deals. In return, Vingroup can raise capital to retain its share of Vincom Retail. Vincom Retail is currently the largest owner of shopping centres in Vietnam that valued at around USD1.1 billion such as the Vincom centres in HCM City and Hanoi and the Vincom Mega Mall project that will be opened in … [Read more...] about US private equity group makes USD200 million investment in Vincom Retail

Many localities nationwide have shown hesitation as far as reducing or suspending projects using state budget funds, according to the Ministry of Planning and Investment (MPI). Many localities nationwide have shown hesitation as far as reducing or suspending projects using state budget funds, according to the MPI By late August this year, the country had cut VND6.53 trillion (USD313.9 million) in public investment. Of that sum, the country suspended construction of 1,206 projects worth VND3.76 trillion (USD180.76 million), while reducing and transferring capital of 897 projects totaling VND2.76 trillion (USD132.7 million). A general report showed that, cities and provinces have still allocated VND1.736 trillion (USD83.46 million) funds for 638 projects which should not be allowed to be implemented in 2011. Localities also haven\'t … [Read more...] about Localities hesitate to cut public investment

Vietnam has attracted 14,550 foreign direct investment (FDI) projects worth USD211 billion for over the past 25 years, one official said.   Foreign investment has sharply flowed into Vietnam Dao Quang Thu, Deputy Minister of Planning and Investment said at a meeting to review the country’s FDI attraction during the 25-year period, that by February 2013, FDI disbursements had reached nearly USD100 billion. FDI firms’ contribution to the country’s GDP had gradually increased year after year, reaching 19% in 2011, he noted. The FDI sector contributed around USD3.7 billion to the state budget in 2012, accounting for 11.9% of total state budget revenue during the year. The sector has helped directly create jobs for over two million people and indirectly for from three to four million people during the 25-year period, he said. FDI firms were responsible for 45.2% in 2001 to 64% in 2012 of the country’s export revenues. According him, there are several … [Read more...] about Vietnam attracts USD100 billion FDI in total investment