308 billion vnd

Illustrative image (Photo: VNA)   Hanoi (VNA) – Permanent Deputy Prime Minister Truong Hoa Binh delivered a keynote speech at a high-level session of the 10th Regional Conference of the Anti-Corruption Initiative for Asia-Pacific, themed “Preventing and Combating Corruption in Infrastructure Projects in Asia-Pacific”, in Hanoi on December 6. In his speech, Binh said Vietnam considers infrastructure building as one of the three strategic breakthroughs to turn itself into a modern-oriented industrialised nation. To such end, he said Vietnam will focus on four tasks, including fine-tuning laws and policies, effectively using resources for infrastructure development, especially in land, construction, investment, construction, investment, bidding; pooling non-State resources for infrastructure development, especially in the form of public-private partnership; prioritising investment in national defence-security or projects that fail to call for investment; and … [Read more...] about Deputy PM addresses conference on anti-corruption initiative

Illustrative image (Source: VNA) Hanoi (VNA) - Steelmaker Hoa Phat Group targets revenue of 55 trillion VND (around 2.42 billion USD) and after-tax profit of 8.05 trillion VND (354.6 million USD) in 2018. The information was released at the group’s annual shareholder meeting held recently in Hanoi with the participation of 368 shareholders, who together hold 77 percent of ordinary shares. Hoa Phat’s management board chairman Tran Dinh Long said the group sees 2018 as a crucial year. The firm would take drastic measures to ensure the progress of the Hoa Phat Dung Quat steel and iron production complex and make it the priority target for this year, Long said. He added that the management board had carefully considered the targets before submitting them to the meeting. The group would implement many big projects this year in their main steel business. In addition, it would be alert for changes in the material market. In other sectors such as agriculture, … [Read more...] about Steelmaker Hoa Phat Group targets 2.42 billion USD in revenue

Investment US$80 billion green building investment opportunities available in Vietnam By Trang Nguyen Saturday,  Dec 7, 2019,09:53 (GMT+7) US$80 billion green building investment opportunities available in Vietnam By Trang Nguyen Apartment buildings surrounded by green plants inside the Times City urban area in Hanoi - PHOTO: VNA HANOI – Some 65.7 million more people will live in urban areas in Vietnam by 2050, and this represents investment opportunities worth up to US$80 billion for the nation’s green construction sector over the next 10 years, according to a new report by IFC, a member of the World Bank Group.  IFC’s new report titled “Green Buildings: A finance and policy blueprint for emerging markets” has highlighted how investors can tap into the great potential of green buildings in the Asia-Pacific region, which will house half the world’s urban population by 2030. IFC … [Read more...] about US$80 billion green building investment opportunities available in Vietnam

The State Bank of Viet Nam (SBV) has instructed local banks to better control risks in corporate bond investment, especially bonds of real estate firms. According to the SBV, after reviewing the business performance of banks in the first half of this year, it saw the corporate bond investment of some banks facing risks as the ratio of such investment was high and is continuing to rise. Notably, the amount of bond investment in construction and real estate firms at some banks accounted for a large proportion of the banks’ total assets while the real estate market has not yet recovered firmly and the business performance of realty firms still faces many difficulties. In addition, some banks also invested in bonds with other purposes, such as to restructure debts of issuers, which have high risks. In order to ensure the safety of the banking system and limit risks in corporate bond investment, under the direction, SBV required banks to review their internal regulations related to … [Read more...] about VN banks warned about risks of real estate corporate bonds

Vietnam's emerging startup scene is proving to be a case of right place, right time for local and international venture capital funds. Eleven “rising star” startups in Southeast Asia in September converged at the “500 Startups Demo Day” in Ho Chi Minh City to spotlight the dynamic technology landscape in Vietnam and broader Southeast Asia. “There’s more hype about Vietnam’s tech scene now than ever before, as this is an exciting time for Vietnam overall,” said Mr. Eddie Thai, General Partner at 500 Startups Vietnam. “Vietnam is fast becoming an attractive destination for local and international venture capital funds, who are hoping to capture the growing consumer opportunities and leverage the Vietnamese entrepreneurial spirit.” Rising appetite Vietnam’s startup sector is growing at a rapid clip despite the global economic slump and is closing the gap with regional leaders. In only two years, it has made a big leap … [Read more...] about Startups catching the eye