More than 121,200 new enterprises were formed in the first 11 months of this year with total capital of VND1.23 quadrillion (US$52.63 billion). More than 121,200 new enterprises were formed in the first 11 months of this year. - Photo tapchitaichinh.vn These figures marked a year-on-year surge of 4.5 per cent in the number of firms and 9.1 per cent in total capital, the Business Registration Management Agency under the Ministry of Planning and Investment (MPI) reported. The average registered capital per enterprise in the first 11 months was VND10.2 billion, up 4.1 per cent over the same period last year. The total registered capital for the domestic economy in the period was VND3.43 quadrillion, up 26.5 per cent against the same period last year, including VND1.23 quadrillion from newly established enterprises and VND2.2 quadrillion from enterprises in operation registering to increase capital for their production and business. In November, the number of newly established … [Read more...] about New companies up 4.5pc in 11 months
Forming new company
New companies up 4.5% in 11 months
More than 121,200 new enterprises were formed in the first 11 months of this year with total capital of VND1.23 quadrillion (US$52.63 billion). These figures marked a year-on-year surge of 4.5 per cent in the number of firms and 9.1 per cent in total capital, the Business Registration Management Agency under the Ministry of Planning and Investment (MPI) reported. The average registered capital per enterprise in the first 11 months was VND10.2 billion, up 4.1 per cent over the same period last year. The total registered capital for the domestic economy in the period was VND3.43 quadrillion, up 26.5 per cent against the same period last year, including VND1.23 quadrillion from newly established enterprises and VND2.2 quadrillion from enterprises in operation registering to increase capital for their production and business. In November, the number of newly established enterprises was 11,637 enterprises with registered capital of VND118.42 trillion, a drop of 10.5 per cent in the number … [Read more...] about New companies up 4.5% in 11 months
China’s state firms cementing lucrative role in South China Sea, new research shows
They could seek to cement their dominant position in coming years, according to new research. The work by academic Xue Gong and published by Singapore’s ISEAS Yusof Ishak Institute this week sheds light on a little-examined element of rising tensions across the vital trade route, showing extensive work by Chinese SOEs in developing infrastructure and tourism, as well as oil and gas, some in hotly disputed areas. Some experts and regional diplomats believe the strong commercial presence could further complicate any future regional solution should Beijing, which research shows has encouraged firms to operate, protect them politically and militarily. China’s state-owned enterprises operated in a complex and often opaque environment, serving national strategic interests as they sought new opportunities, Gong told Reuters. “They cannot operate independently but they are ultimately opportunists and when the policy environment is favorable, then they will go for it. And we … [Read more...] about China’s state firms cementing lucrative role in South China Sea, new research shows
HCM City focuses on transforming business households into companies
Ho Chi Minh City encourages business households to transform themselves into companies. Illustrative Image (Source: VNA) HCM City (VNA) – Ho Chi Minh City has applied several measures to boost the development of enterprises, including turning business households into companies. Experts said there are three main sources for business development –new startup firms, existing enterprises expanding their operation and business households developing into companies. However, the success ratio of startups is low, meaning they make modest contributions to growth in the number of businesses. Meanwhile, existing firms are likely to improve their quality rather than multiply in number. Therefore, the city has put much stock in switching business households into companies, a quick way to increase the quantity of local enterprises. Developing companies from business households has been integrated into business development policies of the city, including a programme to support new … [Read more...] about HCM City focuses on transforming business households into companies
Japan merger forms world’s 2nd largest steel firm
Two of Japan's biggest steelmakers will formally merge on Monday, creating the world's second largest firm in the sector as they look to outpace their Chinese and South Korean rivals. A converter process of Nippon Steel's Kimitsu iron mill plant at Kimitsu city in Chiba prefecture, suburban Tokyo. Nippon Steel, the nation's number one steel company and third-ranked rival Sumitomo Metal Industries will combine to form a giant second only to India's ArcelorMittal.Global competition in the steel industry has intensified in recent years even as demand has been spurred by emerging economies such as China, which are undertaking massive construction, infrastructure and manufacturing projects.But economic fears have weighed on steel demand and Japanese producers have struggled with an unfavourable exchange rate, which saw the yen hit record highs against the dollar late last year.Even with their economies of scale, … [Read more...] about Japan merger forms world’s 2nd largest steel firm
Concerns raised over new margin lending policy
Illustrative image (Photo: thanhnien.vn) Hanoi (VNA) - The State Securities Commission (SSC) has issued a draft regulation requiring the initial margin ratio contracted by securities companies for margin lending to be at least 60 percent, which is expected to take effect in early February. Margin lending is the amount of funding that an investor must personally put up from his own resources. Initial margin ratio is the portion of the purchase price that an investor has to deposit at brokers when borrowing money to purchase securities. This also means that “margin lending contraction”, referring to the practice of using borrowed funds from a broker to trade a financial asset, which forms the collateral for the loan from the broker, would be at maximum rate of 40 percent. The draft policy, which was issued on January 12 to collect feedback and is expected to take effect in early February, is considered as an SSC movement to reduce potential risks in the stock market and … [Read more...] about Concerns raised over new margin lending policy
HCM City west becomes new housing hotspot
They said this segment is popular because it meets the demand of people who buy housing for living or leasing out.Economist Dinh The Hien said in 2018 mid-priced condos in good locations would remain a good choice for buyers.Su Ngoc Khuong, director of investment at Savills Vietnam, concurred, saying apartments costing around VND2 billion remain the prime segment in the market.“Such condos are in high demand in HCM City since people can buy it using their income and loans from banks. Furthermore, this kind of condo attracts many foreign investors.”Furthermore, the analysts said, the west is now attractive thanks to convenient transportation.Le Hoang Chau, chairman of the HCM City Real Estate Association, said that many investors and buyers have moved to the west to take the advantage of its infrastructure.Metro routes 2 and 6 are under construction while the other ongoing works to connect the city with neighbouring provinces like Binh Duong, Dong Nai and Long An also will … [Read more...] about HCM City west becomes new housing hotspot
New M&A Approach from Sao Mai Group
Sao Mai Group made a remarkable achievement as it completed four corporate acquisitions in a short time: An Giang Tourist Joint Stock Company, Dong Thap Tourism Joint Stock Company, Phu Hung - Phu Quoc Joint Stock Company and most recently Nhut Hong Joint Stock Company. They were rescued by Sao Mai Group when they stumbled during economic crisis. 5-year acquisitions Conventionally, M&A is understood as mergers & acquisitions but it is manager & activity at Sao Mai Group. Active management and vibrant activity is a way to complete the market access strategy for new member companies directed by Sao Mai Group with a modern vision. M&As have helped the companies increase their competitiveness by restructuring the entire administration, investing in new facilities, expanding the market share, and flexibly holding dialogues with customers. An Giang Tourism Joint Stock Company and Dong Thap Tourism Joint Stock Company had a strong start with better business … [Read more...] about New M&A Approach from Sao Mai Group
New circular puts ASEAN incentives in SMEs’ reach
The Ministry of Industry and Trade (MoIT) recently issued Circular No.27/2017/TT-BCT, which supplements and amends some items of Circular No.28/2015/TT-BCT, dated August 20, 2015 on the pilot implementation of goods-origin self-certification as per the ASEAN Trade in Goods Agreement (ATIGA), valid for four ASEAN markets, including Laos, the Philippines, Indonesia, and Thailand.Self-certification of product origin (C/O) means traders may declare the origins of exported goods on their commercial invoice instead of C/O form D. As it currently stands, many businesses have to ask for C/O from management agencies.Under Circular 28, an enterprise is allowed to conduct self-certification of goods origin if its total export turnover to ASEAN comes to at least $10 million, under C/O form D in the preceding year.However, Circular 27, taking effect on December 6, 2017, removes this regulation, stating that a firm will be eligible to conduct product-origin self-certification if it is a small- or … [Read more...] about New circular puts ASEAN incentives in SMEs’ reach
Middle East emerges as new destination for Vietnam’s exports
Statistics from the Ministry of Industry and Trade (MOIT) show that trade between Vietnam and the Middle East has been on a recovery momentum with total trade volume reaching US$12.8 billion in 2017, up 17.4% from US$10.9 billion in 2016. It is noteworthy that Vietnam’s enjoyed a quite high trade surplus against the market in 2017, at US$6.4 billion.In particular, the export turnover to the main markets in the region was estimated at US$8.6 billion, up 11.98% over 2016. For the whole year 2017, the total export turnover to the entire Middle East reached US$9.6 billion.The main export items to this market are primarily mobile phones, computers and electronic components; aquatic products, footwear, textiles, fiber yarn, rice, pepper; wood and wood products; cashews, rubber, vegetables and fruits, and coffee. In addition, exports of tea and steel products continued to grow strongly with considerable turnover.Regarding imports, the import turnover has been well controlled with … [Read more...] about Middle East emerges as new destination for Vietnam’s exports