Investment

New businesses to enjoy fee-free services in HanoiThe Saigon Times Daily Prime Minister Nguyen Xuan Phuc (3rd L) and Nguyen Van Binh (2nd L), head of the Party Central Committee’s Economic Commission, attend the “Hanoi 2018 – Investment and Development Cooperation” conference on June 17 - PHOTO: VGP HANOI – The government of Hanoi City will cover all business establishment costs from early August if the city People’s Council approves its proposal, said city chairman Nguyen Duc Chung at a conference in the capital city on June 17. Speaking at the “Hanoi 2018 – Investment and Development Cooperation” conference, he said, “Today I’m glad to announce the Hanoi City People’s Committee has proposed the city People’s Council at its sixth meeting in late July approve its proposal to cover all business establishment and service costs as from August 1.” According to local media reports, the conference … [Read more...] about New businesses to enjoy fee-free services in Hanoi

HCMC calls for more healthcare projects under public-private partnershipBy Hoang Nhung Representatives of Vietnamese and American companies in the healthcare industry hold talks in HCMC on June 15 – PHOTO: HOANG NHUNG HCMC – HCMC has great demand for healthcare projects that develop facilities, equipment and digitization under the public-private partnership (PPP), said the city’s vice chairman, Tran Vinh Tuyen, at a June 15 meeting on healthcare cooperation between Vietnamese and American companies. HCMC seeks to improve the quality of medical examinations and treatment provided to local residents, he said, adding that given the overstretched State budget, attracting PPP investments is an effective solution to promote the growth of the healthcare industry. Nguyen Tan Binh, director of the HCMC Health Department, said the municipal healthcare sector has much room for growth. The city has 28 drug manufacturing plants, 1,200 pharmaceutical companies and 8,200 … [Read more...] about HCMC calls for more healthcare projects under public-private partnership

Quang Binh calls for investment in 48 projectsBy Thuy Dung Quang Binh Chairman Nguyen Huu Hoai (standing) calls upon investors to develop projects in the province - PHOTO: THUY DUNG HANOI - The central province of Quang Binh is calling upon investors to develop 48 projects worth up to VND50 trillion (US$2.2 billion) in total during the 2018-2020 period, mainly in the tourism, renewable energy and hi-tech agriculture sectors. At a seminar, “Quang Binh meeting with potential investors in 2018”, held in Hanoi on June 15, Quang Binh Chairman Nguyen Huu Hoai said the provincial government would allocate 8,000 hectares of land for these projects. Quang Binh is endowed with favorable natural conditions to become a tourism hub in Vietnam and throughout Southeast Asia owing to its good beaches and beauty spots. The province is also considered a good destination for its healthy investment environment, having been recognized for achieving highprovincial governance and public … [Read more...] about Quang Binh calls for investment in 48 projects

An Giang to seek investors for 54 projectsThe Saigon Times Daily HCMC – Mekong Delta’s An Giang Province plans to call for investment in 54 projects across fields such as agriculture, tourism, industry, transportation, construction and urban development and healthcare, the Government news website reported. The provincial People’s Committee will call for investors to develop the projects at a three-day conference on investment promotion, which is scheduled to start on September 10. The event, under the theme, “An Giang – Chance connection, booming cooperation,” will comprise two sessions: hi-tech agriculture and tourism potential of An Giang. Vuong Binh Thanh, chairman of the provincial People’s Committee, urged the relevant departments and agencies to make use of the little time ahead of the conference to create incentive plans in appealing for investment, particularly for the two key sectors of tourism and agriculture, as well as policies … [Read more...] about An Giang to seek investors for 54 projects

Green energy projects still strugglingThuy Dung A wind turbine tower in the Mekong Delta - PHOTO: TRUNG CHANH HANOI – Though the Government has issued a slew of incentive policies, electricity purchase contract and credit risk issues have put a dent in solar and wind power market growth. Bui Vinh Thang, business developer at Mainstream Renewable Power, said on the sidelines of an international conference on wind power in Hanoi City on June 7 that the Government had created good mechanisms for developing wind and solar electricity in 2012 and 2017 respectively. However, the way the electricity purchase agreement is prepared by the Ministry of Industry and Trade has made it difficult for solar and wind power investors, especially those from abroad, to raise sufficient capital. Some contract terms expose investors to risks. This is why financial institutions are reluctant to lend to them. Meanwhile, the Government has not extended its guarantees to fresh loans for any … [Read more...] about Green energy projects still struggling

Higher requirements set for Vinalines investorsLe Anh HCMC – The Ministry of Transport has raised requirements for enterprises that want to become strategic investors of Vietnam National Shipping Lines (Vinalines) so as only firms with strong finances will be able to take part in its equitization process. According to a recent equitization scheme of the enterprise, the ministry requires minimum chartered capital of VND1 trillion for investors operating in the same sector while the level for those outside the shipping sector is VND2 trillion. The figures are double the previous plan which the ministry presented in December 2017. Besides, all investors must meet common standards such as profitability in the two latest years before registering to purchase stakes and sustaining no losses. Becoming strategic investors of the company, they must pledge to maintain its core business within at least three years. According to a source from the ministry, no enterprises have joined … [Read more...] about Higher requirements set for Vinalines investors

Viet Nam News SEOUL — The central province of Bình Định introduced its potential to South Korean businesses on Monday, aiming to lure investment from the Northeast Asian nation. The conference to promote Korean investment in Bình Định was held at the headquarters of the Korea Industrial Technology Association in Seoul, drawing representatives of about 100 Korean businesses. Chairman of the provincial People’s Committee Hồ Quốc Dũng said the advantages of his province match South Korean investors’ investment and business demand. It also shares cultural similarities with Korea. Therefore, Bình Định has chosen Korea, a dynamic and developed economy, to be the next step in its investment attraction plan. He called on South Korean firms to invest in fields his province has demand for such as electronic component production, seaport and industrial park infrastructure, energy, tourism and fisheries. He … [Read more...] about Bình Định province calls for S Korean investment

The Ca Na fish sauce factory is the largest registered project in Ninh Thuận Province, with an investment capital of US$10 million. — VNA/VNS Photo Công ThửViet Nam News NINH THUẬN — A ground-breaking ceremony for the Ca Na fish sauce factory took place in the southern province of Ninh Thuận on April 16. The project is the largest in the province, with investment capital of US$10 million. The Nam Miền Trung Aquaculture Investment Co Ltd and the local People’s Committee organised the ceremony. Located in Phước Minh Commune, Thuận Nam District, the Ca Na fish sauce factory project will be built on more than 37,700sq.m area and produce 3.8 million litres per year. Investment capital for the first phase of the plant is $4.5 million and the plant is expected to come into operation in April next year. Nguyễn Hoàng Anh, general director of the Nam Miền Trung Aquaculture Investment, said the … [Read more...] about Ninh Thuận set to smell fishier

Viet Nam News HÀ NỘI — Start-ups in Việt Nam have invested US$129 million into the field of fintech, according to Varun Mittal, Ernst & Young (EY) ASEAN fintech leader. EY Việt Nam announced the results of the ASEAN FinTech Census 2018 in Hà Nội on Thursday. The survey was carried out on more than 250 fintech (technology used to support banking or financial services) companies in more than 10 countries, providing insights from regional fintech experts. "With a population of young smartphone users, high consumer growth and low unemployment, Việt Nam is becoming a promising market for fintech developers," he said. "Foreign investors are also more interested in buying some fintech companies due to the huge market potential," said Mittal. The number of incubators and accelerators and innovation labs in Việt Nam is estimated at 24, the second most among ASEAN region, following Singapore. However, another EY report showed … [Read more...] about $129 million poured into fintech indsutry

Luxstay is a platform connecting individuals and businesses with apartments, homes and villas for rent. — Photo luxstay.netViet Nam News HÀ NỘI — Japanese investment fund CyberAgent Ventures (CAV) has just announced the venture in to Luxstay. Luxstay is a homestay platform headquartered in Singapore that operates mainly in Southeast Asia, including in the Vietnamese market. The details of the deal were not disclosed, but CAV representatives said the investment was seven digits. The Trí thức trẻ online newspaper quoted Luxstay Vietnamese co-founder and CEO Steven Nguyễn as saying that Luxstay set a target for the series A round this year, hoping to receive about US$10-20 million in investment. Previously, Luxstay announced investments from three investment funds including Genesis Ventures (Japan), Y1 Ventures and Founders Capital (Singapore). Luxstay also received investment from ESP Capital, a local investment fund established by … [Read more...] about Japanese investor buys in to Luxstay