Investment

The Ministry of Transport (MoT) and the Australian Government inked on February, 9 to launch Aus4Transport, a new US$24-million program to support transport projects in Vietnam.

Prime Minister Nguyen Xuan Phuc has agreed in principle partial adjustments to the planning of the Phu Quoc Island of the Kien Giang Province’s till 2030 as proposed by the provincial People’s Committee.

The pioneering hotel brand completes the first step in bringing a vibrant approach to affordable luxury in Vietnam, with developer Indochina Kajima Development Limited (“ICC-Kajima”) concluding the purchase of two land plots.

Prospective investors have registered interest in less than 3% of the stakes the State is selling at the initial public offering (IPO) of Power Generation Corp. 3 (Genco 3), as stated in the Ho Chi Minh City Stock Exchange (HOSE)`s latest announcement.

Ho Chi Minh City attracted a total of US$6.38 billion foreign direct investments last year, with half of this are capital contribution and share purchase in state-owned enterprises (SOEs), according to the Ho Chi Minh Investment & Planning Department.

The participation of foreign investors in Vietnam’s insurance market will help the market develop while benefiting domestic insurers in experiences and governance.

The Ministry of Agriculture and Rural Development (MARD) has approved the criteria for choosing strategic investors at Vietnam Southern Food Corporation (Vinafood 2), said the company in its latest announcement.

Foreign direct investment (FDI) enterprises` contribution to the state budget remains modest, in spite of receiving preferential treatment, stated the General Statistics Office (GSO).

The Government should take policies to avoid the traditional trade system to fall in hands of foreign direct investment (FDI) firms, which now also manage roughly 30-40% of the country’s modern trade system.

The Ministry of Industry & Trade (MoIT) will continue its efforts to divest state capital from state-owned enterprises (SOEs) in 2018, said Tao Thi Kim Van, Deputy Head of Finance and Enterprises Renovation Department.

The People’s Committee of Hai Phong City has proposed to build the second passenger terminal at Cat Bi International Airport by using public private partnership (PPP) funds in combination with other forms of investment.

In January, total foreign direct investment (FDI) includes newly registered, increased, contributed capital, purchased shares reached US$1.25 billion, equaling 75.9% over the same period of 2017, according to the Ministry of Planning & Investment.

Vietnam National Textile and Garment Group (Vinatex)’s net revenue in 2017 is estimated at VND17.5 trillion (US$766 million), an increase of 13.2% over the last year, according to the company’s recent consolidated financial statement.

Vietnam has raised VND1.31 trillion ($57.7 million) from the initial public offering (IPO) of Vietnam Rubber Group (VRG) on Ho Chi Minh Stock Exchange (HOSE) on February 2.

The Asian Development Bank (ADB) today signed a US$100 million loan facility agreement with China Everbright International Limited (CEIL).

Foreign direct investment (FDI) registered capital in the southern province of Dong Nai in January surged 50% year-on-year to US$62.1 million, raising the province’s total capital to $31.9 billion.

The Chairman of the People`s Committee of Ho Chi Minh City has presented the Chairman of the National Assembly of Vietnam and the Prime Minister documents outlining the consequences if the obstacles of Metro Line No.1, 2 are not solved soon.

Hanoi Beer Alcohol and Beverage Corp. (Habeco)’s net revenue and net interest income in 2017 are estimated at VND9.8 trillion (US$430 million) and VND751 billion (US$33 million), according to the company’s latest financial statement.

Japanese investor wants to expand the area of the US$100 million Xuan Thieu tourist complex in Danang by nearly five times compared to the previous proposal.

The Vietnamese government has raised US$308 million (VND6.996 trillion) by selling 20% of PetroVietnam Power (PV Power) in an initial public offering (IPO) on the Hanoi Stock Exchange on January 31.