Investment

The Saigon One Tower project - the first mortgaged asset seized by Vietnam Asset Management Company (VAMC) for bad debt will be auctioned with the starting price of VND6.1 trillion (US$267 million), announced VAMC on March 27.

Vietnamese firms invested nearly US$150 million in 28 projects abroad in the first quarter of this year, the Ministry of Planning and Investment’s Foreign Investment Agency (FIA) reported.

Ho Chi Minh City People`s Committee has approved the task of selecting the idea to develop Can Gio district into smart urban area.

Global Petro Commercial (GPBank) expects to raise VND570 billion (US$25.08 million) by selling a 26.9% stake in Kim Lien Tourism, announced the Hanoi Stock Exchange (HNX) on March 28.

Binh Duong Manufacturing & Import Export Corp (Potrade) successfully raised VND524 billion (US$22.8 million), 46% higher than previous estimation from its initial public offering (IPO) on March 28, announced the Ho Chi Minh Stock Exchange (HoSE).

Foreign investors spent VND810 billion (US$35.68 million) to buy 50 million shares of the Vietnam National Textile and Garment Group (Vinatex), aimed to seize opportunities from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on Vietnam’s textile and garment.

346 investors registered to purchase 93.2 million Hanoi Trade Corporation (Hapro)`s shares, 23% higher than the share amount on offer, informed the Hanoi Stock Exchange (HNX) on March 28.

Vietnamese Prime Minister Nguyen Xuan Phuc today decided to expand the country`s largest airport to the south with an additional passenger terminal.

The Ministry of Finance (MoF) on March 27 said it will review opinions proposing the removal of excise tax on locally made auto parts and exempting tax of input materials for domestic automobile manufacturers.

Vietnam’s T&T Group and Bouygues Group have signed the document are a memorandum of understanding (MoU) on cooperation in investment in the US$1.7 billion urban railway project No. 3.

The Government Office on March 27, has just announced the conclusion of Deputy Prime Minister Trinh Dinh Dung in a recent meeting on enlarging the Tan Son Nhat International Airport.

Foreign investors disbursed US$3.88 billion in Vietnam in the first quarter of the year, up 7.2 percent year-on-year, reports from the Ministry of Planning and Investment’s Foreign Investment Agency (FIA) showed.

The Hanoi People’s Committee has recently issued Plan No.73 on implementing the project entitled “Improving quality of management over industrial chemical production and trade in Hanoi to 2020”.

The Government Inspectorate of Vietnam (GIV) has worked with investors on inspection all investment and construction projects on the protected Son Tra Peninsula.

The government is expected to divest funds in a series of state-owned enterprises (SOEs) in the coming time, stated in a recent report of the Ministry of Finance.

Hanoi has been given permission to speed up process of mobilizing capital and selecting contractors for urban infrastructure development projects in form of public-private partnership (PPP), per the Deputy Prime Minister Trinh Dinh Dung`s request.

A memorandum of understanding (MoU) on establishing an agency for promoting investment and supporting Japanese enterprises in investing in the northern province of Vinh Phuc (Japan Desk Vinh Phuc) was signed in the locality on March 26.

2018 is expected to be an active year in the Hanoi retail market with a total of 157,000 sqm coming from eight under-development projects.

The delegation of Kachay Global Development Company (USA) has recently had a meeting with Thanh Hoa province`s leaders after exploring investment opportunities in the province`s food industry, healthcare and tourism.

Japanese businesses have become an important part of Hai Phong’s economy, stated Secretary of the municipal Party Committee Le Van Thanh at a conference to promote Japan’s investment and tourism in the northern port city on March 24.