M&A makes up majority of foreign capital inflows Some US$6 billion out of US$7.63 billion in foreign investment capital pledged to HCMC last year came from capital contributions, share acquisitions and purchases of stakes from domestic businesses. HCMC vice chairman Le Thanh Liem said at a conference in Binh Duong Province on February 14 that the pledged investment capital from foreign investors for HCMC last year picked up by 15.59% against the previous year. Of these, there were 1,060 new projects, with total registered capital of US$811.68 million, and 244 projects with additional capital of over US$835 million. Last year also saw 3,283 cases in which foreign investors received approval to contribute capital, buy shares and contribute capital to domestic firms, with registered capital totalling US$5.99 billion. With these results, HCMC received around 60% of foreign capital. According to Liem, the 2014 investment law has provided a favorable legal corridor for foreign investors … [Read more...] about BUSINESS NEWS IN BRIEF 19/2
What alliance is vietnam airlines
Air industry buoyed by policy shift
More open policies will improve the long-term outlook for airlines, Photo: Le Toan The Vietnamese arm of Japan’s Mitsubishi is now preparing to join the Long Thanh International Airport project, located in the southern province of Dong Nai. Mitsubishi and other foreign businesses who are interested in the project are now waiting for the country’s more open policies to emerge, in order to join future projects. “The Long Thanh airport plans will be developed under the public-private partnership format. Accordingly, we have established an alliance with Taisei Corporation and Narita International Airport Corporation for this project,” said Tetsu Funayama, president and general director of Mitsubishi Corporation Vietnam. Raising foreign ownership A source from the Ministry of Transport (MoT) told VIR that the MoT is amending the Vietnamese government’s Decree No.92/2016/ND-CP governing conditional business lines in the civil aviation sector, with a view to … [Read more...] about Air industry buoyed by policy shift
Qatar Airways breaks into Central Vietnam with new route to Danang
Leaders of Qatar Airways and the VIP delegation on the Doha-Danang direct flight Qatar Airways will operate its Danang service four-times a week with a Boeing B787-8 aircraft, featuring 22 seats in Business Class and 232 seats in Economy Class. Passengers will be able to enjoy the airline’s superior entertainment system, Oryx One, offering up to 4,000 entertainment options. Danang is the third Vietnamese destination on Qatar Airways’ rapidly-expanding global network as Qatar and Vietnam celebrate 25 years of diplomatic relations. Qatar Airways flight QR0994 departed from Hamad International Airport (HIA) on Wednesday December 19 at 02:30 and landed in Danang at 13:20 local time. “Qatar Airways is very pleased to extend its reach into Vietnam by launching our third gateway into this beautiful country. The addition of Danang to our global network further demonstrates our commitment to the Far East region, a highly important market for Qatar Airways. And we are … [Read more...] about Qatar Airways breaks into Central Vietnam with new route to Danang
Social News 16/10
Quang Binh busts largest meth smuggling case Police seizes 308.6kg of crystal meth in the case Police of the central province of Quang Binh recently seized 308.6kg of crystal meth, the largest single amount confiscated in the province so far. On October 12, local police noticed a suspicious car on National Highway 1A in Le Thuy district of the province. When police asked the occupants to stop the car, they fled into a nearby forest. When examining the vehicle, police discovered 300 nylon bags of crystal meth weighing 308.6kg. The next morning, with the cooperation of local people, authorised forces arrested Xeng Vang, born in 1995 and residing in Bolikhamsai province of Laos, who was the car’s driver. He admitted he was hired to smuggle the drugs to Da Nang city for 10,000 USD. Local police are searching for other suspects. A day earlier, police in Nghe An province, also in the central part of Vietnam, arrested two drug traffickers, seizing 30 bricks of … [Read more...] about Social News 16/10
Time to act for the future of ASEAN
PwC Vietnam's general director shared her expert views with the audience at the Vietnam, Business Summit 2018 Growth in ASEAN David Wijeratne Last year marked the 50th anniversary of the Association of Southeast Asian Nations (ASEAN), a unique achievement considering the regional conflicts and poverty which characterised the region in the first half of the 20th century. The ASEAN’s remarkable growth journey to become the world’s sixth-largest economy has been powered by its people, with the establishment of a formidable labour force and the subsequent creation of a wealthier middle class which has driven domestic consumption. Challenges to ASEAN’s growth However, against this backdrop, questions have been raised about the sustainability of the ASEAN growth story. Global economic growth has slowed in recent years and this has impacted all markets across the ASEAN. GDP growth in Singapore (or the developed ASEAN) dropped below the global average to 2.0 per … [Read more...] about Time to act for the future of ASEAN
BUSINESS IN BRIEF 15/4
Saigon Co.op to open 50 more convenience stores Saigon Co.op, the country’s leading retailer, will open an extra 50 Cheers in convenience stores in HCMC in partnership with NTUC FairPrice of Singapore this year, said Nguyen Thanh Nhan, general director of Saigon Co.op. At a 2017 review meeting of Saigon Co.op last week, Nhan said Cheers stores would sell household and consumer goods and operate 24/7. In HCMC, there are already two Cheers stores. Besides Cheers, Nhan said this year Saigon Co.op would open 19 more Co.opmart supermarkets, two more Co.opXtra stores, 150 more Co.opSmile shops and at least one more Co.opmart hypermarket in a high-end residential area. To maintain its position as Vietnam’s leading retailer, Saigon Co.op must focus on expanding the retail network, diversifying products and developing logistics, said Nhan. Saigon Co.op is expected to achieve a 10% increase in total revenue. A report released at the meeting showed that in 2017 Saigon Co.op made some … [Read more...] about BUSINESS IN BRIEF 15/4
BUSINESS IN BRIEF 9/1
Vingroup, T&T to develop urban railway projects in HanoiThe government of Hanoi City has proposed the Prime Minister allow Vingroup and T&T Group to develop three urban railway projects which the city plans to complete by 2025, Tuoi Tre newspaper reports.The two domestic investors will use their capital to make pre-feasibility studies for these projects.When the projects were announced, many investors expressed interest in Hanoi. However, only Vingroup and T&T Group have registered to take part.Both of them proposed implementing the projects in the build-transfer (BT) format. Particularly, Vingroup registered to build the 38.4-kilometer metro line No. 5 which connects Van Cao and Hoa Lac and metro line No. 2 from Tran Hung Dao to Thuong Dinh with a length of 5.9 kilometers. Meanwhile, T&T Group is keen on metro line No. 4 connecting Me Linh, Sai Dong and Lien Ha, and measuring 54 kilometers in length.The two investors said they would use their own finances to study the … [Read more...] about BUSINESS IN BRIEF 9/1