News

The US$3.2-billion Vung Ro Petroleum & Oil Refinery project has been withdrawn due to delays, announced the Phu Yen People`s Committee.

VinaCapital along with Maybank Kim Eng Securities hosted Corporate Day at the London Stock Exchange to showcase some of Vietnam`s most dynamic companies to foreign investors, according to a VinaCapital announcement on March 7.

On March 5, Prime Minister Nguyen Xuan Phuc instructed related government agencies to continue supporting and developing businesses to 2020 on the basis of the Government`s Resolution No.35.

Vietnamese Ambassador to the UK Tran Ngoc An and representatives from the Ho Chi Minh Stock Exchange and Vietnamese businesses on March 7 attended the opening session of the London Stock Exchange, one of the largest stock markets in the world.

Korea`s Mirae Asset Global Investments is forming a joint venture with Vietnam`s State Capital Investment Corporation (SCIC), according to the former`s announcement on February 26.

​Ho Chi Minh City has numerous projects open for foreign investment, Secretary of the municipal Party Committee Nguyen Thien Nhan said at a reception for investors from Singapore and Australia who came to explore investment opportunities in the city on March 6.

Skechers USA, a major footwear maker based in California, is studying a plan to invest in Vietnam in a project that probably needs 20,000 workers. The project marks a good start for the local footwear industry after a slowdown in 2017.

VinGroup and TH True Milk have registered to invest 1.2 trillion VND (53 million USD) in ginseng and herbs farm projects in mountainous Nam Tra My district of Quang Nam province.

Total investment capital from the State budget was estimated at more than 1.27 billion USD in the first two months of 2018, equivalent to 8.6 percent of the yearly plan.

Vietnam decided to offload 46.9%, equivalent of 6.7 million shares, in Thong Nhat Electromechanical (Vinawind) in an auction scheduled for March 30, according to the Hanoi Stock Exchange`s announcement.

Vietnam wants to boost investment cooperation with India in numerous fields, including information-technology, biotechnology, renewable energy, agro-fishery processing and so on.

PetroVietnam Oil Corporation (PVOIL) plans to make its debut on the Unlisted Public Company (UPCoM) market with a total of 200 million shares at the price of VND20,200 ($0.89) per share on March 7, according to an announcement from the Hanoi Stock Exchange.

Binh Son Refinery and Petrochemical (BSR) made its debut on the Unlisted Public Company Market (UPCoM) on March 1, revealing the name of its two strategic investors at the event.

The State Capital Investment Corporation (SCIC) plans to offer its holdings of 2.4 million shares in Maritime Bank for VND12,400 (US$0.54) per share, according to the Hanoi Stock Exchange (HSE).

VinaCapital`s flagship fund Vietnam Opportunity Fund (VOF) has invested US$32.5 million to acquire a significant minority stake in Ba Huan, the country`s leading pasteurized eggs and poultry meat producer.

PetroVietnam Technical Services Corporation (PTSC) and Yinson Clover Ltd. (YCL), a subsidiary of Malaysia`s Yinson Holdings, have entered an agreement to establish a joint venture, PTSC Ca Rong Do Ltd. (Red Dragon Fish), with the total investment capital of US$111.62 million.

VinaCapital`s Vietnam Opportunity Fund (VOF), invested approximately US$45 million into two subsidiaries of PetroVietnam (PV Power and Binh Son Refining and Petrochemical) at their initial public offerings (IPOs) conducted in January.

The construction of the Long Son Petrochemicals (LSP) complex has been started on February 24 and the complex is scheduled to start commercial operation in the first half of 2022.

Ownership management of the State`s capital at 21 large State-owned enterprises (SOEs) is proposed to be transferred to the State Capital Management Committee dubbed as the "Super Committee."

A wide range of laws and regulations governing State-owned enterprises (SOEs) would be reviewed for possible adjustments and changes, per request of the government.