Viet Nam eyes foreign investors to revive local real estate market (16-02-2009) Dang Hung Vo, former deputy minister of Natural Resources and Environment, spoke with Kinh Te & Do Thi (Economy & Urban Affairs) newspaper about how to take advantage of foreign real estate investors. In the past, many foreign investors in the real estate sector mobilised capital from the country’s people. According to many experts in the field, this limited the possibility of taking the best advantage of these investors’ financial resources. What is your opinion on the matter? In the past, many foreign investors invested in Viet Nam with real estate projects such as Ciputra and Keangnam in Ha Noi and the Phu My Hung New Urban Area in HCM City. These projects have caused much controversy in regards to payments for land use and operational methods. In my opinion, the purpose of calling for foreign investors is to make up for the difficulties that Viet Nam has to face, such as the current … [Read more...] about Viet Nam eyes foreign investors to revive local real estate market
What attracts foreign investors to a country
Underground fees discouraged foreign investors
VietNamNet Bridge – Foreign investors in Vietnam have pointed out that underground fees are the biggest problem for them when doing business in Vietnam. Experts have warned that tax incentives and a cheap labor force will not be enough to attract foreign investors to Vietnam, if the problem cannot be solved. FIEs have to pay too much on “commissions” Unlike domestic enterprises, foreign invested enterprises FIEs highly appreciated the dynamism and infrastructure conditions in localities. However, the positive feelings cannot help drown the worry about bribery and the lack of transparency in policies. Dr. Edmund Malesky, representative from USAID, said foreign investors are complaining that unofficial expenses are the most serious problem in Vietnam. 20 percent of FIEs say “they had to pay such a fee when registering business.” 40 percent of enterprises said they had to pay a … [Read more...] about Underground fees discouraged foreign investors
Vietnam needs to accelerate reforms to attract foreign investors
Vietnam needs to accelerate reforms to attract foreign investors The Vietnam Business Forum (VBF) 2009 took place in Hanoi on Tuesday ahead of today's year-end Consultative Group (CG) Meeting for Vietnam. The Saigon Times Daily spoke with Simon Andrews, Regional Manager of International Finance Corporation (IFC) for Vietnam, Cambodia, Laos and Thailand, co-organizer of the VBF, about the highlights of the forum. Excerpts: The Saigon Times Daily: What is your perception of the current macroeconomic challenges that Vietnam is coping with? - Simon Andrews: This is a very important time for Vietnam and great opportunities lie ahead for the country. Vietnam's Government has been widely acknowledged by the business and investment communities for its decisive and effective economic stimulus measures which are yielding positive and stabilizing results. The global economy is showing signs of recovery and no doubt there will be some bumps ahead as we climb out of the recession, but East Asia is … [Read more...] about Vietnam needs to accelerate reforms to attract foreign investors
Vietnam’s economy 2012 in the eyes of foreign investors
The world economy is shaky and uncertain. In this climate, Vietnam could emerge as a preferred destination for foreign investment if it seizes the opportunity. That is the assessment of foreign investors and world economists on the occasion of New year 2012. According to economists, Vietnam’s economy is not insulated from global trends as it increasingly depends on the global economy. There will be some difficulty attracting foreign direct investment in the coming period due to problems besetting parent companies in foreign countries. At the same time, Vietnam is now being more selective about FDI quality, which to some extent, is affecting FDI flow into the country. However, economists say the disbursement of 10 billion USD per year of FDI capital during 5 very difficult years shows that Vietnam’s business environment and investment promotion policies are still attractive to foreign investors. Studies indicate that Vietnam is still the bright spot in the region in terms … [Read more...] about Vietnam’s economy 2012 in the eyes of foreign investors
Foreign investors lose interest in SOE shares
Given the success of its initial public offering (IPO) at the end of December 2011, executives at the Bank for Investment and Development of Vietnam (BIDV), one of the largest banks in Vietnam, could not have imagined that seeking a strategic investor would prove to be such a difficult task. Foreign investors regularly express interest in acquiring shares in SOEs, especially large ones such as BIDV, Vinatex, and Vietnam Airlines. “We are yet to find a foreign strategic investor,” said Mr. Tran Phuong, Senior Executive Vice President. “We have been looking for four years and will continue to look.” BIDV has sold 7 per cent of its shares to individuals, union organizations, and staff to date. The government planned to sell 15 per cent to an overseas strategic investor to bolster corporate management, financial ability, and competitiveness. This turned out to be no easy task, with the bank still struggling to attract an organization interested in becoming a … [Read more...] about Foreign investors lose interest in SOE shares