VietNamNet Bridge – Vietnam does not intend to sell stakes in petroleum distribution companies to foreign investors, affirming that this does not come contrary to its WTO commitments. The information that some petroleum companies are going equitized has caught the special attention from the public and foreign investors, who always see petroleum distribution as an attractive business field and have got ready to inject money in the companies. However, foreign investors will not have the opportunities to invest in the lucrative field. Petect, a subsidiary of the Vietnam National Oil and Gas Group (PetroVietnam) is preparing for its equitization. Meanwhile, Petrolimex is going to make IPO (initial public offering) in late July. Both Petec and Petrolimex are the big guys in the market, and their equitization would be big events in the market in 2011. This is for the first time Vietnam opens the petroleum market for private investors. To date, this has been considered the … [Read more...] about Door to petroleum companies not open to foreign investors
Why private companies go public
VietNamNet Bridge – Deputy Head of the Civil Aviation Authority of Vietnam (CAAV) Lai Xuan Thanh has reassured the public that the strategy on airport network development of Vietnam also considers the development of the parking lots specifically reserved for private aircrafts. Deputy Head of the Civil Aviation Authority of Vietnam (CAAV) Lai Xuan Than The information that a Vietnamese company has imported four private helicopters has raised worries and debate among the public. Some people believe that it is necessary to tighten the control over the use of private helicopters in Vietnam for the safety reason. Others think that it is necessary to create more favorable conditions so as to encourage more and more people to possess private helicopters. Especially, worries have been raised that the private aircrafts cannot fly in Vietnam because of the lack of a legal framework, safety standards, and the places for the aircrafts to park. However, Deputy Head of CAAV Lai … [Read more...] about CAAV affirms Vietnam does not lack parking lots for private aircrafts
VietNamNet Bridge - Japanese enterprises have been step by step closing their factories in the south of China and moving to Vietnam. Vietnam’s transportation industry has attracted more and more investors from Japan. All Nippon Airways has spent $100 million to acquire 8.77 percent of stakes of the nation’s flag air carrier Vietnam Airlines. Meanwhile, JX Nippon Oil & Energy spent $183 million to get 8 percent of Vietnam’s Petrolimex. More recently, Mitsui OSK Line, Japan's largest shipping firm, said in The Financial Times that it plans to invest in the $1.2 billion project to expand the Hai Phong container port. Once the project is completed, slated for 2018, the harbor capacity would be double. This is the first investment project in port infrastructure developed under the mode of PPP (private public partnership) with the participation of Japanese investors. According to Junichiro Ikeda, president of Mitsui OSK, the investment … [Read more...] about Why have Japanese chosen Hai Phong Port?
Last week, Israel announced that it was appropriating nearly 1,000 acres of private Palestinian land near Bethlehem. The seizure, which one anti-settlement group called the largest in 30 years, was condemned by Palestinians, the United Nations, and criticized by the United States. Israel has said that the move is retaliation for the June kidnapping and murder of three Israeli teenagers. Settlement has long been considered a fair response to Palestinian attacks by some parts of Israeli society, and appropriation of Palestinian land has been a consistent policy of every Israeli government since Israel became a state in 1948. In the West Bank alone, close to 250,000 acres were appropriated since 1979, using a legal mechanism based on an interpretation of Ottoman law. The timing of this most recent appropriation, though, has little to do with any particular act of Palestinian violence. It did have something to do with pacifying domestic opposition – the appropriation soothed some … [Read more...] about Israel appropriated 1,000 acres of the West Bank. Why now?
Vietnam's public debt obligations are rising and could threaten the nation's financial security unless they are closely managed, said Prime Minister Nguyen Tan Dung. When growth began to flag, Vietnam actively increased borrowing from both local and overseas lenders to fund development, he explained to the National Assembly (NA) on Wednesday. And the borrowing is only set to increase. According to the PM, Vietnam plans to issue VND335 trillion ($15.95 billion) worth of government bonds between 2011 and 2015, 2.5 times as many as it issued in the 5 preceding years. Put another way, the country has issued VND250 trillion worth of bonds since 2011 and is expected to issue additional VND85 trillion next year. The government has also accelerated disbursement of official development assistance (ODA) and extended preferential loans to priority firms and regional governments engaged in essential infrastructure and socioeconomic projects, he said. During that process, the country's public … [Read more...] about PM Dung seeks to allay concerns about Vietnam’s rising public debts