Investment

Founded in 2013, Asanzo has developed quickly. — Photo genk.vnViet Nam News HÀ NỘI — Asanzo plans to sell 15 per cent of its stake to call for capital of about VNĐ500 billion (US$21.5 million) from now to 2020, Phạm Văn Tam, Asanzo chairman. The company, which specialises in electronic equipment, said that its first target of this capital mobilisation was its distributor. "This is one step in the process of preparing for Asanzo’s initial public offering (IPO). Before debuting, we want to share the benefits first for our distributors – our longtime companions who understand us the most," Tam told online newspaper theLEADER. Asanzo also plans to build a new factory in HCM City, located in Củ Chi District this year, over an area of ​​about 17,000sq.m and with investment of over VNĐ400 billion. This factory will produce goods for the central and southern markets. With the goal of an IPO, Asanzo wants to expand … [Read more...] about Asanzo to call for VNĐ500 billion in capital

Alpha King selects Savills as exclusive leasing agentBy Hung Le Representatives of Savills Vietnam and Alpha King Real Estate Development signed a strategic partnership agreement on August 13 – PHOTO: SAVILLS VIETNAM HCMC - Savills Vietnam and Alpha King Real Estate Development (Alpha King) signed a strategic partnership agreement on August 13, under which Savills is appointed as the exclusive leasing agent for Alpha Town and Alpha Mall in HCMC, the first collaboration between the two companies. Located on Tran Hung Dao Street in HCMC’s District 1, the Alpha Town project is a 35-level property, with gross floor area of nearly 72,000 square meters. The building is a Grade A office property developed by a fully foreign-owned company based in the same district. The elegant shape of Vietnam’s national costume, ao dai, is the inspiration for the building’s façade. The cutting-edge project also offers a rooftop garden suitable for hosting events and … [Read more...] about Alpha King selects Savills as exclusive leasing agent

FDI flows to Dong Nai surpass full-year planThe Saigon Times Daily Workers are seen at a factory of Bosch Vietnam in Dong Nai Province. The province's FDI in the year to date has surpassed the full-year target - PHOTO: VNA HCMC - The southern province of Dong Nai has, year to date, attracted more than US$1.14 billion in foreign direct investment (FDI), exceeding the province’s whole year target of US$1 billion, the Government news website reported. Since early this year, the province has issued investment certificates for 73 new FDI projects with total registered capital of nearly US$551.8 million. In addition, 64 other operational FDI projects have had their investment increased by US$595 million, taking the total fresh FDI pledged in the province to US$1.14 billion. According to the Dong Nai Industrial Zones Authority, FDI projects in the province were mainly found in supporting and green industries. Besides this, the provincial government has approved eight new … [Read more...] about FDI flows to Dong Nai surpass full-year plan

Kien Giang attracts investors to 68 projectsThe Saigon Times Daily The Mekong Delta province of Kien Giang held an investment promotion forum in HCMC on August 13 – PHOTO: VGP HCMC – The Mekong Delta province of Kien Giang has called on investors to develop 68 projects in the key fields of hi-tech agriculture, produce-processing, water supply and wastewater treatment, the government news website reported. The Provincial People’s Committee held an investment promotion forum in HCMC on August 13, aimed at introducing the province’s potential and competitive edge, as well as its investment incentives. The province’s vice chairwoman, Le Thi Minh Phung, told the participants that local economic growth has been relatively high in recent years. In 2017, Kien Giang's gross regional domestic product (GRDP) value was estimated at VND57.5 trillion (US$2.4 billion), and the province’s economic growth rate hit 7.39%, while its income per capita averaged … [Read more...] about Kien Giang attracts investors to 68 projects

Tra Vinh to develop large wind farmThe Saigon Times Daily The wind power turbine of a wind park in the Mekong Delta. Tra Vinh has approved a proposal by three investors to develop the Hiep Thanh wind farm with an investment of nearly VND3.37 trillion – PHOTO: TRUNG CHANH HCMC – The Mekong Delta province of Tra Vinh has approved a proposal by three investors to develop the Hiep Thanh wind farm with an investment of nearly VND3.37 trillion (US$144.8 million), reported news website Vietnamplus. The plant, which is scheduled to be completed in 2020, will cover more than 2,700 hectares of a coastal area in Hiep Thanh Commune, Duyen Hai Town. It has been designed to have 18-19 wind poles with a combined capacity of 78MW. The three investors are Hanoi-based Ecotech Vietnam Renewable Energy JSC; Singapore-based Janakuasa Pte Ltd; and Lam Minh, a resident in Ba Dinh District of Hanoi, who plans to set up Ecotech Tra Vinh Renewable Energy JSC in Tra Vinh Province to roll out … [Read more...] about Tra Vinh to develop large wind farm

HCMC asks for continued ODA funding from JapanBy Hung Le Chairman of the HCMC People’s Committee Nguyen Thanh Phong (R) presents a gift to Japan’s State Minister for Foreign Affairs at the end of a meeting, held on Friday - PHOTO: HUNG LE HCMC – The HCMC government expects Japan to continue aiding the city with official development assistance (ODA) loans and high-tech services for metro lines and water environment improvement projects. Chairman of the municipal government Nguyen Thanh Phong made this proposal to Japan’s State Minister for Foreign Affairs Kazuyuki Nakane at a meeting held on Friday. Phong said that expanding infrastructure projects is crucial to develop the city’s economy. Therefore, the city has highly appreciated the financial support of Japan for many projects over the years, such as water environment improvement, drainage system renovation without digging up the road’s surface, and Metro Line No.1 construction. The HCMC … [Read more...] about HCMC asks for continued ODA funding from Japan

Mekong Capital divests from Asia Chemicals By Tam An Mekong Enterprise Fund II, a unit of Mekong Capital, divests all of its 10 investments - PHOTO: MEKONG CAPITAL HCMC - Mekong Enterprise Fund II, a unit of Mekong Capital, has completely divested from Asia Chemicals Corporation (ACC) and taken in US$8.9 million, a 2.6-fold increase over the initial investment, after a seven-year holding period. According to a press release by Mekong Capital on August 10, the fund had prepared for the divestment beginning early this month. In 2011, MEF II invested US$3.8 million in ACC, which was its 10th investment, after others in Mobile World Investment Group (The Gioi Di Dong), Golden Gate, Vietnam Australia International School and International Consumer Products. However, MEF II has now divested from all of its 10 earlier investments. The divestments have helped the fund generate a gross return multiple of 4.5 and a gross internal rate of return of 22.5%. Early this year, MEF II sold … [Read more...] about Mekong Capital divests from Asia Chemicals

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

PM tells Tien Giang to remove bottlenecks to fuel growthBy Trung Chanh Prime Minister Nguyen Xuan Phuc speaks at the investment promotion conference in Tien Giang Province on August 9 – PHOTO: VGP TIEN GIANG – The Mekong Delta province of Tien Giang should remove obstacles and shortcomings to attract large investments, thereby creating momentum for its fast and sustainable growth and becoming a driving force in the Mekong Delta region, said Prime Minister Nguyen Xuan Phuc at an investment promotion conference today, August 9. Themed, “Tien Giang: Investment Opportunities---Development Cooperation,” the conference in the province attracted more than 500 delegates, including leaders of the Government, ministries and other central agencies; representatives of international organizations; and local and international investors. The event aimed to introduce local potential and strengths, creating an opportunity for investors to meet provincial leaders and … [Read more...] about PM tells Tien Giang to remove bottlenecks to fuel growth

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