Investment

Vietnamese plastic firms are under big pressure to make restructure to be able to compete against foreign counterparts, who have made many mergers and acquisitions of domestic firms in the past few years.

Deputy Prime Minister Vuong Dinh Hue recently required several ministries to quickly address their slow disbursement of public investment.

Thailand`s Siam Cement Group (SCG) has signed an agreement to acquire the 29% stake in Vietnam`s Long Son Petrochemicals (LSP) from PetroVietnam for over VND2.05 trillion (US$90.2 million), according to a stock exchange filing by the Thai firm.

Cen Group`s real estate brokerage arm CenLand plans to list 50 million shares, equivalent to VND500 billion (US$22 million) of charter capital, on Ho Chi Minh City Stock Exchange (HoSE), according to the latest announcement on the stock exchange.

Vietnam`s telecommunication company Viettel Group and its partners will launch the first 4G mobile network in Myanmar in June 9 under the brand Mytel, the Vietnamese government said on May 28.

The performance of foreign investment funds in Vietnam’s stock market has been pessimistic in the past two months due to the slump of the market.

The Vietnam government plans to offload a 17.97% stake in ceramics and building material corporation Viglacera on the Hanoi Stock Exchange (HNX) by June, announced the firm on May 26.

The Committee for State Capital Management will represent the owners of 20 groups and corporations with total capital and assets of more than VND1.5 quadrillion (US$65.78 billion).

The Vietnamese Government always creates favourable conditions for foreign businesses, including those from the South Korea, to invest and expand operation in the country, said Minister and Chairman of the Office of the Government Mai Tien Dung.

The supervision group of the Hanoi People’s Council has asked the municipal Department of Natural Resources and Environment to work with the city’s authorities in order to reclaim long-delayed projects which violate the current Land Law.

PetroVietnam Oil (PVOil) is in talks to sell a 44.72% stake to strategic investors later this year, after its US$184 million initial public offering (IPO) in January, its parent Vietnam Oil and Gas Group, or PetroVietnam, said on May 23.

South Korean firms invested US$2.32 billion in Vietnam in the first four months of this year, accounting for nearly 30 percent of the total investment inflow in the Southeast Asian country.

Vietnam State has raised only VND1.57 billion (US$69,080) from transferring the right to buy 57.9 millions of its shares in flag carrier Vietnam Airlines in the auction on Hanoi Stock Exchange (HNX).

Entertainment group Yeah1 will trade 27.4 million shares, equivalent to VND274 billion (US$12 million) of charter capital, on the Ho Chi Minh City Stock Exchange (HoSE), informed HoSE.

The Nawaplastic Industries (Saraburi), a subsidiary of Thailand`s Siam Cement Group (SCG), has purchased an additional 170,040 shares plastic producer Binh Minh Plastic, lifting its ownership to 51.1, according to Ho Chi Minh City Stock Exchange (HoSE).

The Ministry of Culture, Sports and Tourism (MCST) is targeting to raise VND80 billion (US$3.52 million) by divesting the tourism service arm of state-owned energy giant PetroVietnam.

South Korean`s Hyosung Group has proposed to purchase 13 million shares of Corporation Dong Anh Electrical Equipment (EEMC) or 46% of the company`s charter capital at VND90,000 (US$3.94) apiece.

The South Korea poured US$2.32 billion in Vietnam in the first four months of 2018, making up nearly 30 percent of the inflow of investment in the Southeast Asian country.

The Ministry of Industry and Trade (MoIT) must finalize the national solar power development master plan and report it to the Prime Minister before July 15 this year.

The southern province of Dong Nai has been working with agencies on a project to turn Bien Hoa I Industrial Zone into a commercial and service centre.