The State Bank of Vietnam on June 6th issued a document to approve the proposal from the branch bank of Mitsubishi UFJ in Ho Chi Minh City to raise its legal capital. Earlier, the Mitsubishi UFJ bank in Ho Chi Minh (HCM) City proposed to triple its legal capital to US$ 145 million from US$ 45 million of its current maximum legal capital. Under its plan, its main banking facility in HCM City will be funded with US$ 85 million, while its auxiliary facility in Hanoi will receive US$ 15 million of investment. In January 2006, The Bank of Tokyo-Mitsubishi UFJ started its business and became one of the foreign banks with legal capital of more than US$ 30 million operating in Vietnam after it had taken over the management of UFJ’s banking branch in HCM City. Source: DVT Translated by Thu Nguyen … [Read more...] about Mitsubishi UFJ’s branch in HCM City triples legal capital
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This expansion was due mainly to a 4% on-quarter growth in government bonds to US$51 billion as the central bank increased issuance of bills. Vietnam’s bond market registered growth of 3.4% on-quarter and 1.9% on-year to US$55.1 billion as of the end-September, according to the latest edition of the Asian Development Bank’s (ADB) Asia Bond Monitor. This expansion was due mainly to a 4% on-quarter growth in government bonds to US$51 billion as the State Bank of Vietnam (SBV), the country’s central bank, increased issuance of central bank bills. The overall expansion of the country’s local currency bond market was slightly tempered by a 2.8% contraction on-quarter in the corporate bond market to US$5 billion. Nevertheless, the corporate bond market still posted growth of 4.2% year-on-year. Yield movement Vietnam’s local currency government bond yield curve shifted downward between August 31 and October 15. Bond yields for … [Read more...] about Vietnam’s bond market grows 1.9% in Jan-Sep, reaching US$55 billion
Vietnam's start-up sector is closing the gap with regional leaders Indonesia and Singapore with new investment, according to a Nikkei Asian Review article (Illustrative photo: VNA) Hanoi (VNA) – Vietnam's start-up sector is closing the gap with regional leaders Indonesia and Singapore with new investment, according to a Nikkei Asian Review article. The article cited a joint research by Ho Chi Minh City-based venture capital ESP Capital and Singapore's Cento Ventures which showed start-up investment in Vietnam hit 246 million USD this year through June on 56 deals. It added that investment is expected to top 800 million USD by the end of the year, which would represent a rise of at least 80 percent over last year's 444 million USD. The article said a total of about 5.9 billion USD was invested in Southeast Asian start-ups in the first half of 2019. When it comes to the investments that can be tracked to a destination country, Vietnam accounted for 17 percent of start-up … [Read more...] about Vietnam startups gain on Indonesia, Singapore: Japanese newspaper
Vice Chairman of the Ha Nam provincial People’s Committee Truong Quoc Huy speaks at the event (Photo: VNA) Ha Nam (VNA) – Businesses of Japan’s Chiba prefecture joined a working session with the People’s Committee of the northern province of Ha Nam on November 20 to explore the province’s investment climate. At the event, Vice Chairman of the provincial People’s Committee Truong Quoc Huy informed his guests that Japan is now the second largest foreign investor of Ha Nam, with nearly 100 projects in various fields, contributing to the local socio-economic development. As Ha Nam regards Japanese firms as its main investment partner, the province has zoned off the Dong Van 3 supporting industrial park to attract more businesses from the country, he added. Notably, the province has set up an office to support Japanese investors in administrative procedures. In addition, the province boasts a huge workforce with cheap labour cost. It has … [Read more...] about Japanese firms explore Ha Nam’s investment climate
Since issuing corporate bonds has become easy thanks to open regulations, it is necessary to tighten control over bond issuance. According to Saigon Securities Incorporated (SSI), VND129.016 trillion worth of corporate bonds were offered to sell in the first eight months of the year and 90.08 percent was sold. VND22.664 trillion, or 61 percent of bonds, were sold to domestic investors. However, it’s unclear who the ‘domestic investors’ are. Meanwhile, bonds cannot sell to individual investors who don’t have deep knowledge about the market. The analysts blamed the hot corporate bond market on the easy requirements stipulated in Decree 163. Hai Linh Anonymous foreign investor buys entire batch of Phu My Hung bonds Phu My Hung Development Corporation has mobilised VND800 billion ($34.78 million) for real estate projects from a "secret" foreign investor through bond sales. Vietnam’s bond market continues growth Vietnam’s … [Read more...] about Is the corporate bond market too hot?