Most sophisticated technologies Under the theme “Intelligent Connect,” Metfone brought unique technological performance to the ceremony marking the 10th anniversary of the company’s operation in Phnom Penh recently. At the ceremony, Major General Le Dang Dung – acting Chairman of the Military Industry-Telecoms Group (Viettel), said, “Metfone has marked the starting point from which Viettel has extended its operation overseas. After 10 years of development, we’ve well comprehended the role of Metfone in the digital socio-economic development in Cambodia. We commit to further innovating Metfone by applying most advanced technologies to fulfilling its new mission.” Delegates watching Metfone's services at the ceremony marking the 10th anniversary of the company’s operation in Phnom Penh Cambodian Deputy Prime Minister and Defense Minister Samdech Pichey Sena Tea Banh congratulated Metfone on its achievements in the … [Read more...] about Metfone contributes to socio-economic development of Cambodia
Return of invested capital
VinaCapital announces end of partnership with Ba HuanBy Minh Tam Phan Thi Huan, owner of Ba Huan Company, inspects eggs on a processing chain. A VinaCapital representative confirms that the partnership with Ba Huan has ended peacefully - PHOTO: BA HUAN JSC HCMC - VinaCapital Group and Vietnam’s leading poultry egg and meat producer Ba Huan on August 9 completed procedures for the termination of their cooperation deal in the spirit of goodwill, said Don Lam, general director of VinaCapital Group. Lam told local media that the two sides had worked together to revoke the deal over the last few days. VinaCapital is willing to cooperate with Ba Huan in the future, he noted. He also expressed regret over the canceled deal, noting that this is the group’s first deal to be terminated among more than 100 projects VinaCapital has handled over the last 15 years in Vietnam. He also confirmed that the fund will maintain its investments in private and household businesses as … [Read more...] about VinaCapital announces end of partnership with Ba Huan
VinaCapital terminates investment in Ba HuanBy Minh Tam An image seen on the website of VinaCapital Group, which has planned to suspend its investment in Vietnam’s leading poultry egg and meat producer Ba Huan HCMC – VinaCapital Group on August 7 announced plans to suspend its investment in Vietnam’s leading poultry egg and meat producer Ba Huan, following the producer’s recent request to the Prime Minister to help with the termination of the deal. According to a press release from VinaCapital, the two sides are now working together to revoke the deal while complying with the relevant laws and ensuring mutual benefits. VinaCapital claimed the agreement was signed in line with market practices and Vietnamese law and was similar to previous successful agreements between VinaCapital and other partners. The agreement also included articles to protect VinaCapital’s benefits, in line with current market practices. These articles would only be … [Read more...] about VinaCapital terminates investment in Ba Huan
Viet Nam News by Brian Spence This week, we take a look beyond shares and bonds at some of the more unusual and potentially lucrative alternative investment opportunities. “Alternative” investments is a catch-all term for anything that is not shares, bonds, mainstream property or cash. Beyond these traditional asset classes, Vietnamese investors can invest in everything from stamps and fine wine. Of course, the fact that alternative investment opportunities exist does not mean these investments are safe or advisable. Before you even consider an alternative investment opportunity, you need to understand the risks. When you’ve understood some of the dangers, take a look at some of the alternative investment ideas below. All of them are available to Vietnamese investors, although not all are Việt Nam-based. We’ve put them roughly in order of risk, starting with the “safest” and ending with those you should definitely steer clear of. This is … [Read more...] about Alternative investment opportunities in Việt Nam
A helpful starting point to identify where tax obligations fall after a transfer With the increasing number of mergers and acquisitions (M&A), transfer of contributed capital and securities is becoming more common and is widely used by both domestic and foreign investors. Complying with the regulations and having a tax efficient approach is one of the key concerns of most shareholders who would like to invest or divest from a Vietnamese company. In general, share transfer in Vietnam includes the sale of capital contributed in a limited liability company (LLC) and securities of a joint stock company (JSC), and in certain circumstances, the taxes imposed on each transaction are different. Tax liability of the sellers Corporate sellers/transferors For local corporate sellers, any gain derived from the transfer of capital/securities in another Vietnamese entity is regarded as ‘other income’ and is accordingly subject to corporate income tax (CIT) at the current … [Read more...] about Tax implications of selling equity or shares in Vietnamese entities
Probability of a bubble Vo Huynh Tuan Kiet Since its quick recovery in 2014, the Vietnamese real estate market has witnessed an unparalleled supply of new projects being constantly launched and with good net absorption. Along with the market’s traditional segments, new products have been introduced, such as second-home villas, condotels, and officetels. Since 2015, the Vietnamese government loosened its requirements for foreigners to buy and own properties in Vietnam, which helped attract more foreign investors to the market (Figures 1 and 2). Nonetheless, many experts and investors have cast doubts upon this rapid recovery, predicting underlying risks. These risks include an oversupply of high-end projects, the return of speculators, and falling market demand. The biggest concern would be another property bubble akin to the one that shook the market in 2007 and froze the property market until 2013. The market is still paying the cost of this previous bubble. As the … [Read more...] about Signs of another property bubble?
The Government Inspectorate (GI) has announced conclusion of its inspection of the acquisition of Audio Visual Global (AVG) by State-owned communications giant Mobifone (Source: anvientv.net) Hanoi (VNA) - The Government Inspectorate (GI) has announced conclusion of its inspection of the acquisition of Audio Visual Global (AVG) by State-owned communications giant Mobifone, and proposed starting legal proceedings and investigation into the case. In an announcement issued on March 14, the GI said the case was extremely serious, as Mobifone, the Ministry of Information and Communication and related agencies had committed many wrongdoings during the process of acquisition. Thus the GI recommended that the Prime Minister instruct the Minister of Information and Communication to consider and annul the decision approving Mobifone’s investment in television service and transfer the case to the Ministry of Public Security for investigation. The GI’s inspection found that … [Read more...] about Gov’t Inspectorate proposes investigation into Mobifone’s purchase of AVG
Middle-Income Market Drives InvestmentReported by Tu TamMore real estate developers and investors have adjusted their targets to middle income consumers whose increasing demand now looks more practical, while the market for high-end projects are saturated. The Weekly had a talk with Louis Nguyen, CEO of Saigon Asset Management (SAM) over the issue, after SAM’s Vietnam Property Holding recently announced a US$5 million investment in Century 21 Joint Stock Company (C21). Excerpts: Q: The real estate market did not have a good performance in 2010. How did Vietnam Property Holding (VPH) perform in that gloomy market? A: Although 2010 was a challenging year for the real estate market, VPH managed to make a decent return of investment at around 10%. Real estate investment is usually long term and valuations of real estate are not as volatile as the stock market. We were pleased the fund was able to stay positive in an ugly market. What is your view for 2011?It depends on what sector of … [Read more...] about Middle-Income Market Drives Investment
Located 24 km to the south-east of Quy Nhơn, the small island of Cù Lao Xanh has an area of around 5 sq.km, which is 4km in length and the largest part of which is just 1.2km. Despite its impressively blue charm as its name and picturesque landscapes, the island has long been an unrecognized destination on Việt Nam's tourism map, and is now still considered "the island of the old and the children." Although the island is surrounded by the sea on all sides, its people are not able to make their living from the sea. According to the People's Committee of Nhơn Châu Commune, the highest annual fishery production in Cù Lao Xanh is less than 1,000 tons and that is plummeting, once reported less than 400 tons. The average monthly income of people could not even reach VNĐ1 million (US$45) and the average population once dropped to only 2,000 people. Expect the prosperity There have been marked signs of change since 2016. Along with the impressive growth of … [Read more...] about Who Is Investing in Cù Lao Xanh?
Viet Nam News HÀ NỘI — Potential wrongdoings involving VNĐ15 trillion (US$658.5 million) and 6.7 million sq.m of real estate were found with the State-owned coal and mining giant, Vinacomin. Other problems in financial management, investment and land management were also disclosed in a recently released report by the Government Inspectorate (GI) regarding law and policy compliance of Vinacomin (Việt Nam National Coal – Mineral Industries Holding Corporation Limited) and its subsidiaries in the 2010-2015 June period. The GI has asked the Ministry of Public Security to review and investigate these findings. According to the report, some $4.4 million of capital that Vinacomin poured into the Cambodia-based Southern Mining Co Ltd might be for naught as the corporate’s management board failed to follow legal regulations on investment and co-operation contracts. Doãn Văn Quang, Deputy Director of the corporation, signed the memorandum … [Read more...] about $650 million of State-owned coal and mining corp not properly handled