Investment

The ministry has been requested to downsize its wholly-owned companies to 17 by end-2020.

At a starting price of VND19,641 (US$0.84) apiece, Vietcombank is expected to book proceeds of VND116.5 billion (US$5.01 million), much lower than the bank`s initial expectation of at least VND1.04 trillion (US$44.52 million), local media reported.

Though having high demands for high-quality input materials and spare parts for their production bases in Vietnam, foreign manufacturers are finding it hard to seek for local qualified suppliers, experts said.

This results in an increase in the stake holding of domestic shareholders in Ba Huan from 66.2% to 83.6%, of which Ba Huan`s Director Pham Thi Huan owns 64%.

The amount is equivalent to 57.71% charter capital of Vietnam Construction and Import-Export Corporation (Vinaconex).

The deal is in line with Vingroup`s target of having 200 VinMart supermarkets and 4,000 VinMart+ convenience stores by 2020.

Vietnam’s commitments to increase foreign equity caps in the telecommunications sectors under the EU-Vietnam Free Trade Agreement (EVFTA) will ease European investors to enter the country’s industry.

It purchased the stock as part of a placement by KKR, which offloaded its entire holding in a US$209 million deal.

Vietnam is shining bright on foreign funds` radar.

Under the plan, VietinBank will auction over 15 million Saigonbank shares or 4.91% of the latter`s charter capital at an undisclosed price, while the timing for auction has also not been given to the public.

International Finance Corporation (IFC) committed US$3.4 billion in fiscal year 2018 in East Asia and the Pacific, spurring the growth of a thriving private sector in the region.

French Ambassador to Vietnam Bertrand Lortholary affirmed that many French businesses are looking to cooperate and invest in Vietnam.

The recent withdrawal of Vietnamese groups from billion-dollar oil refinery projects is paving the way for potential foreign investors, especially those from Thailand and China, to jump in the industry.

The latest data from the Business Climate Index (BCI) of the European Chamber of Commerce in Vietnam (EuroCham) shows that European companies are growing more confident of doing business in Vietnam.

South Korean`s third largest conglomerate will now hold 9.5% stake of Masan Group, which is valued at about US$5 billion.

At present, nine out of 10 projects have been under construction, and are scheduled to be completed in June 2019, VietnamFinance reported.

With the starting price of VND10,000 (US$0.43) per share, the total value of the share amount in subject would be VND54.2 billion (US$2.33 million).

Vietnam’s FDI incentive regime next time should focus on investors whose products and investment are needed by the country in the future, thus contributing to maximizing the capital inflow’s influence and added value, experts said.

The latest investment brings the company`s valuation at US$20 million.

Oversupply concerns, slow increase in gasoline demand, and financial constraints seem to be factors behind the Vietnamese partner`s withdrawal.