Investment

With a population of more than 93 million, of whom more than half are under the age of 30, Vietnam’s food and beverage industry has been getting the attention of foreign investors, experts said.

Vietnam will create favourable conditions for enterprises from the South Korea to invest in Vietnam, Minister of Labour, War Invalids and Social Affairs Dao Ngoc Dung told Kyung Shik Sohn, Chairman of the Korea Employers Federation, in Hanoi on March 23.

TPBank is expected to list its shares on the Ho Chi Minh Stock Exchange (HoSE) on the second quarter of 2018, announced the latter on March 23.

Hanoi Stock Exchange (HNX) released a statement on March 23 to cancel the State capital Investment Corporation (SCIC)`s auction of Maritime Bank`s shares.

A conference entitled “Meet Japan – Mekong Delta region” will take place in Can Tho City on April 18 and19, expected to provide the city a golden opportunity to promote trade and investment ties with Japanese firms.

By the time the US$2.6-billion Hoa Phat Dung Quat iron and steel production complex is completed in 2020, Hoa Phat Group aims to become one of the world`s top 50 steel companies, said the Group`s Chairman Tran Dinh Long.

Warburg Pincus is relishing its opportunities in Vietnam as the economy grows and capital markets develop, said Jeffrey Perlman, Southeast Asia chief of the private equity firm to Reuters.

The Ministry of Planning & Investment (MPI) is responsible to finalize the draft decree on investor selection of the Bidding Law in March, urged the Deputy Prime Minister Trinh Dinh Dung.

FPT Retail aims to reach revenue of VND16 trillion (US$700 million) in 2018, increasing 22%, according to the company`s document to be submitted to the annual shareholder meeting on March 28.

Start-ups will be given support from the State budget in localities with no more than 30 percent of total investment mobilised from investment funds.

The Ministry of Transport (MOT) has approved the project to upgrading Terminal T1 to an annual capacity of 5 million passengers in Phu Bai Airport, Thua Thien-Hue province.

Vietnam`s Airbnb-like startup Luxstay has successfully mobilized US$2.5 million through its Pre-series A funding round, announced Luxstay.

High-tech parks in Vietnam have so far attracted 217 projects worth nearly US$10 billion of registered capital, the Ministry of Science and Technology reported.

Vietnam Rubber Group (VRG) and Power Generation Corporation (Genco 3) will be listed on the Unlisted Public Company (UPCoM) today on March 21, according to the Hanoi Stock Exchange`s recent announcement.

Taekwang Corporation has expressed its interest to invest in PetroVietnam Power (PV Power) in a deal that could potentially rise up to VND12 trillion (US$525.6 million), according to the latter`s recent statement.

Asset management firm VinaCapital has invested US$10 million in Ricons Construction Investment, a subsidiary of the country`s leading developer Cotec Construction (CotecCons), following a report by Deal Street Asia.

Thailand`s Siam Cement Group (SCG) is open to various options of shareholding structure at Long Son Petrochemical complex (LSP), as long as the group still have the majority, said Roongrote Rangsiyopash, President and CEO of SCG to Nikkei Asian Review.

With US$11.4 million, Keppel Land Limited (Keppel Land) has acquired the remaining 10% stake in Jencity Limited from Jenclub Limited to hold 100% interest in Saigon Sports City project.

FPT Retail sent IPO registration to the Ho Chi Minh City Stock Exchange with 40 million shares, equivalent to a chartered capital of VND400 billion (US$16 million).

Chairman of Hanoi People`s Committee Nguyen Duc Chung has recently signed Decision No. 1292 / QD-UBND approving the development master plan of the City`s industrial cluster to 2020 with a vision to 2030.