VietNamNet Bridge - In the eyes of Wilbur L. Ross, the 200th richest American, Vietnam is an interesting destination for investment from the US. Related news US billionaire amazed at Vietnam’s economic change Ross did not hesitate to make positive comments about the potential of financial investments, as well as expectations for the economy of Vietnam. "Your country is undergoing a dramatic transformation of state-owned enterprises between the Government and private investors. This is a rare and interesting opportunity," the 78-year-old billionaire said. Born in 1937 in New Jersey, US, Ross is one of the most famous investors in America. He is known for "reviving" companies on the verge of bankruptcy by using financial leverage. As of July 2015, Ross owns a fortune of $3 billion, ranked 603rd on the list of the world's richest by Forbes. In the US, he is the 200th richest man. Betting on bankruptcies and distressed assets has made Ross a billionaire. He spent 25 … [Read more...] about The US billionaire who pours money into Vietnam’s garment industry US billionaire amazed at Vietnam’s economic change
Largest privately owned company in the us
Vietnam-Born bidder wins billion-dollar contract in U.S. Reported by Pham Le California Waste Solutions (CWS) has won a decisive campaign against its rival, Waste Management Inc., the largest waste treatment company in the U.S. The prize is a package worth US$2.7 billion, which allows CWS to manage waste collection and disposal for the Californian city of Oakland for 20 years. The Saigon Times interviewed CWS General Director David Duong on his winning of this package as well as implementation of projects in Vietnam. Q: Could you elaborate on this US$2.7-billion package? How long did it take for you to win it? A: We’re very glad that seven out of eight members of the Oakland City Council voted for CWS as the entity undertaking waste collection and disposal for the city, where we are just the minority, much smaller than our rival, Waste Management, a company with branches in all 50 states of the U.S. as well as many countries around the world. CWS was chosen in part because we … [Read more...] about Vietnam-Born bidder wins billion-dollar contract in U.S.
Tra fish prices in Mekong Delta shoot up Tra fish prices in the Mekong Delta have rallied in the past nine months, bringing in more profits to farmers.Turnover drops to 1-month lowAdditional VND6 trillion required for Long Thanh Airport’s site clearanceLotte to acquire Vietnam’s Techcom FinanceGDP in quarter three posts record high of 7.46% The consumer price index (CPI) last month rose by 0.59% compared to August, expanding 1.83% against December 2016, and 3.04% year-on-year. Overall, the average CPI inched up 3.79% in the year to September.PVN’s nine-month oil production exceeds assigned planNinh Thuan calls for investment in renewable energy According to a survey by the World Bank, Ninh Thuan province has the highest wind speed in the country, averaging 7.5 m per second, which is ideal for wind power development. In particular, Ninh Thuan rarely has any storms and winds blow throughout … [Read more...] about BUSINESS IN BRIEF 4/10
Dong Nai: Private companies’ registered capital rockets The registered capital of privately-owned enterprises in the southern province of Dong Nai approximated 9 trillion VND (428.57 million USD) in the first half of this year, up 74 percent year on year. Half of that sum came from about 1,000 newly established businesses, while the rest was from 300 existing ones, according to the provincial Department of Planning and Investment. By June 15, the number of private firms across Dong Nai stood at 19,408 with a total registered capital of over 120.105 trillion VND (5.72 billion USD). Director of the department Bo Ngoc Thu attributed the outcome to the province’s regular dialogues with both domestic and foreign enterprises to remove obstacles and facilitate credit access. It has also put into practice new favourable tax and customs policies. To maintain growth pace and help out the circle, Dong Nai continues improving its investment climate by cutting down business fees, … [Read more...] about BUSINESS IN BRIEF 14/7
Firm accused of tax evasion, titanium smuggling The General Department of Customs has revealed tax evasion and smuggling of titanium ore by the Binh Thuan Trade and Mineral Investment Joint Stock Company (KSBT). The company's tax evasion and smuggling of thousands of tonnes of titanium ore were uncovered by the Lao Dong (Labour) newspaper after its investigation in July and November last year. During the investigation, some 40 customs clearance documents reportedly showed evidence of tax evasion and illegal exports by this company. To Bai Tich, general director of the KSBT, said all his company contracts were signed via fax. However, 37 out of the 39 contracts to sell titanium ore between 2009 and 2012 did not have the specific account numbers of the buyers. They were mostly Chinese companies. According to the Vietnam Immigration Department of the Ministry of Public Security, many contracts were signed and sealed when the director had gone abroad on business. However, the director … [Read more...] about BUSINESS IN BRIEF 25/2