Investment

The northern province of Quang Ninh is actively investing to complete traffic infrastructure and calling for more investment in service, tourism and high-tech projects to prepare for the establishment of its Van Don special administrative, economic unit.

The total investment in the railway route is estimated at more than US$50 billion, said the Ministry of Transport (MoT) on January 18.

The Government has recently issued a decree detailing the Commercial Law and the Law on Foreign Trade Management, which monitors foreign trade in line with Vietnam’s laws and international conventions the country has joined.

Industrial and processing zones in Ho Chi Minh City has so far attracted nearly 1,500 projects worth US$10 billion, the city’s Export Processing Zones and Industrial Parks Authority (Hepza) announced on January 18.

Vietnam Rubber Group (VRG) will offer 11.88% of its charter capital in an Initial Public Offering (IPO) on the Ho Chi Minh City Stock Exchange (HOSE) on February 2.

Vietnam is currently the third largest FDI investor in Laos with 276 projects worth roughly US$5 billion, according to the Ministry of Planning and Investment.

Tan Vien Luxury International Tourist Resort is facing the threat of having its project license withdrawn if PVR fails to submit the 1/500 detailed master plan for appraisal.

Casinos will have to reserve a place for tax officials to supervise all activities directly or via electronic devices and camera systems, according to Circular No.46 of the Ministry of Finance (MoF) issued last December.

The entire share volume put on offer by Binh Son Refinery and Petrochemical (BRR) have been bought by 623 investors at the average price of VND23,043 (US$1) per share.

In 2017, State Capital Investment Corporation (SCIC) collected VND21.2 trillion (US$930 million) through divesting state funds from state-owned enterprises (SOEs), an increase of 19 times the initial investment.

Mobifone decided against auctioning off its 5.5 million shares in TPBank, a transaction that was expected to take place on the Hanoi Stock Exchange (HNX) on February 7.

Maritime Securities Incorporation (MSI) officially changed its name to KB Securities Vietnam (KBSV), according to Decision from Vietnam’s State Securities Commission on January 17.

Chinese enterprises tend to enhance their presence in Vietnam through M&A, especially in the real estate sector.

The southern province of Binh Duong sets target of attracting US$1.4 billion foreign direct investment (FDI) capital in 2018, Tran Thanh Liem, chairman of the province People’s Committee, said.

JD.com, Chinese second largest online retailer behind Alibaba, has made an investment in Vietnam’s leading B2C e-commerce firm Tiki.vn, expanding its Southeast Asia business amid growing competition.

The Ministry of Planning and Investment (MPI) must rapidly finalize the revised draft Law on Public Investment to submit it to the National Assembly for approval.

The Petro Vietnam Oil Corporation (PV Oil) would witness dramatic changes after the initial public offering (IPO) on January 25.

Prime Minister Nguyen Xuan Phuc on January 15 signed a decree to cut 675 investment and business conditions in trade sector, making it easier for production and business.

Vietnam Electricity (EVN) has received official requests from foreign investors to purchase the maximum allowed 36% stakes of EVNGenco 3, stated in its official website.

The retirement age of Vietnamese labourers is proposed to be increased from 2021.