Finance, banking lure US firms (16-02-2005) Workers inspect a newly assembled car at Ford Viet Nam. The company, set up in 1995 with US$102 million in capital, is wholly US-owned. — VNA/VNS Photo Thong Nhat HCM CITY — Foreign investment in Viet Nam is showing promising signs, said Nguyen Quoc Dung, head of the Investment Promotion Department of the Ministry of Planning and Investment’s Southern Foreign Investment Centre. Dung said American companies have increasingly begun to show an interest in investing in the country, mostly in the financial and banking sectors. Merrill Lynch, a leading financial services company, has already began researching investing in Viet Nam, he said. The planning and investment departments of Binh Duong and Dong Nai provinces and HCM City said businesspeople from Japan, Taiwan and South Korea in addition to the US have been actively looking to invest in Viet Nam. Pham Hong Ky, the director of the Southern Foreign Investment Centre, … [Read more...] about Finance, banking lure US firms
Merrill lynch private banking and investment group
Investment funds rev up in Viet Nam (15-03-2006) HCM CITY — More and more investment funds are starting up in Viet Nam these days. On Monday, investment fund management company VinaCapital announced the completion of the VinaLand Fund, which focuses on the country’s real estate market, a "hot sector" for investment. The company decided to close the fund’s investment at US$200 million, although it had received over $300 million in subscriptions, exceeding the originally targeted $50 million. Management company Indochina recently joined the fray by launching its first property-focused fund, the $42 million Indochina Land. "We are immensely pleased with the overwhelming response to our new property fund," said Don Lam, VinaCapital managing partner. "We have received subscriptions both from investors in our Vietnam Opportunity Fund (VOF), who have seen the demonstrated results of VinaCapital’s disciplined investment approach, as well as new investors, who believe in … [Read more...] about Investment funds rev up in Viet Nam
Is VN safe from crisis on Wall St? (19-09-2008) by Le Thanh HA NOI — The US financial sector is deteriorating swiftly. There have been a number of major casualties: Fannie Mae, Freddie Mac, Lehman Brothers, Merrill Lynch, and American International Group (AIG). Earlier, the question was, how can we save these financial institutions? The question today is, who’s next? Will Viet Nam be affected? The US, a super economy, accounts for a quarter of the world’s gross domestic product and 15 per cent of the world’s combined import value, so its impacts are felt everywhere in trade, investment and finance. The US is Viet Nam’s largest export market, representing nearly 20 per cent of the country’s export value. The US has been Viet Nam’s largest investor for many years – including investments through third-party countries. So the US economic crisis directly and indirectly impacts on the global economy in general and Viet Nam in particular. … [Read more...] about Is VN safe from crisis on Wall St?
UBS's giant banner on Hong Kong's One Peking Road skyscraper, so big it has drawn complaints for keeping solar panels in the shade, is a testament to the renewed push among Swiss banks to win business from Asia's burgeoning ranks of millionaires. Switzerland's wealth managers have long courted Asia's super-rich amid slowing growth at home and an international crackdown on its bank secrecy rules that has made the country a less attractive place to keep cash. But the competition has recently shifted up a gear, with the new boss of Credit Suisse (CSGN.VX) signaling he wants to embark on a similar path to cross-town rival UBS (UBSG.VX), which in 2011 chose to shrink its investment bank and focus on the more stable wealth management business, especially in Asia. "Everybody wants to be in Asia," said Andreas Brun, a banking analyst at Switzerland's Zuercher Kantonalbank (ZKB). "It's not a sudden thing but they suddenly talk about it as the main strategy." The attractions are obvious, with a … [Read more...] about Swiss banks step up battle for Asia’s super-rich
China’s biggest online travel agency is offering a 30 percent discount on trips to Southeast Asia’s beaches and malls. The Chinese aren’t buying it. “Singapore, Malaysia and Thailand are traditionally the favorite tourism route for the Chinese,” said Jiang Haibin, a public affairs manager at Ctrip.com International Ltd. “This year, that route was affected a lot.” Chinese travelers have been deterred by political violence and the mysterious disappearance almost six months ago of a Malaysia Airlines plane bound for Beijing. Territorial skirmishes with the Philippines and Vietnam have also hurt inter-government relations, while Singapore, a transit hub and stopover for those traveling around in the region, said China arrivals dropped 30 percent in the first six months of the year. Visitors from China made up a 10th of all arrivals to the region in 2012, threatening an industry that employs millions in Southeast Asia and contributes billions of … [Read more...] about Chinese say no as MH370 to Thai coup deter trips