A major investment conference is slated to be held in the city of Long Xuyen in the Mekong Delta province of An Giang in mid-December 2018 under the theme “An Giang – Connecting Opportunities for Successful Co-operation.” The conference will be held in Long Xuyen city in An Giang province (Photo: Huu Truc) Around 500 delegates will join the event, including leaders from diverse government agencies, provinces, and municipalities in the delta as well as Ho Chi Minh City, besides economic experts, business associations inside and outside the province, business executives, and foreign partners. Prime Minister Nguyen Xuan Phuc will chair the conference. On the occasion, An Giang will approve the investment proposals of 23 projects across the five sectors of agriculture, trade-services-tourism, industry, construction, and urban development valued at more than VND27 trillion ($1.17 billion) in total committed capital. Seven projects worth more than VND101 trillion … [Read more...] about Major investment promotion conference soon lands at An Giang
Ingham county land bank
Growing pepper changed the lives of local people. Thanks to the crop and the huge profits it brought, they could buy cars and build new houses. But in 2015, pepper plants started to die en masse due to weather changes and low-quality breeding. By 2017, there were almost no productive pepper trees left. The pepper price plunged from VNĐ200,000-250,000 (US$8.7-10.8) in 2014 to the current low of VNĐ47,000 ($2) per kg. For a few years, locals tried to rescue the dying trees, pouring everything they had into reviving them. This year, they have accepted that the trees can no longer survive, and it is time for the growers to begin climbing out of the debt that has consumed them. Pepper plant grower Văn Viết Sỹ, 69 years old of Ia Blứ Commune, used to hire 15 to 20 people to harvest pepper for three months during the peak season. Now he can only reminisce that time and accepted the harsh fact that 3,000 out of his 4,000 trees died. The others are about … [Read more...] about Land of pepper becomes ‘land of debt’
VAMC, banks auction mortgaged assets to recover bad debtsThe Saigon Times Daily VAMC and multiple banks have auctioned mortgaged assets to settle bad debts - PHOTO: THANH HOA HCMC - Vietnam Asset Management Company (VAMC) and multiple banks have put up the mortgaged assets for auction to speed up the settlement of bad debts, according to Nguoi Lao Dong newspaper. VAMC announced its business plan earlier this year, which stated the company would buy a maximum of VND32 trillion (US$1.4 billion) worth of nonperforming loans using its special bonds and would use cash to purchase VND3.5 trillion worth of bad debts. VAMC targeted settling some VND34.5 trillion worth of bad debts this year. VAMC recently seized entitlement certificates over 13 land plots and land-attached properties, including a plot of land and assets on Nam Ky Khoi Nghia Street in HCMC’s District 3. Green City Construction Investment JSC had used the assets as collateral for loans taken from Vietnam Bank for … [Read more...] about VAMC, banks auction mortgaged assets to recover bad debts
Owning numerous large-scale land plots may attract investors to Hanosimex for its listing on the Unlisted Public Company Market (UpCOM). Hanosimex's land plots may act as a counterpoint to the firm's average performance The Hanoi Stock Exchange has approved Hanoi Textile and Garment Joint Stock Corporation (Hanosimex) to list 20.5 million shares on UpCOM at the reference price of VND15,800. According to the plan, the listing will be conducted on April 19. Established in 1984, Hanosimex is a large-scale corporation within the yarn-textile-garments supply chain of Vinatex, with factories in Hanoi, Bac Ninh, Hung Yen, Ha Nam, Nghe An, and Ha Tinh provinces. In 2017, Hanosimex reported a revenue of VND2.36 trillion ($103.6 million), including VND1.65 trillion ($72.4 million) of revenue from the yarn segment and VND335 billion ($14.7 million) from the garment segment. VND1.58 trillion ($69.37 million–67.31 per cent) of its revenue came from exports, while VND771 billion … [Read more...] about Large land bank may lure investors to Hanosimex?
Almost all farmers face difficulties getting bank loans as they struggle to put a security up for loans," said Nguyễn Đăng Cường, a farmer in Thuận Thành District, northern Bắc Ninh Province. Cường, a farmer in the province with 42ha of rice, fishing and duck farming land, told Tin tức (News) newspaper that borrowing money from banks to expand his business was difficult despite preferential Government policies for farmers. Government Decree 55/2015/NĐ-CP, effective from July 2015, offered preferential loans to farmers with amounts up to VNĐ2 billion (US$90,000), but few could access the loans, he said. "Borrowers must have real estate as a collateral for the loan. Banks offer loans equal to 70 per cent of the real estate value and for only six months," Cường said. At least VNĐ1 billion ($45,000) is needed for one hectare of land to generate high profit products extensively. If using high technology, the cash needed could increase to between VNĐ6 billion ($269,000) - VNĐ10 billion … [Read more...] about SGGP English Edition- Farmers still struggling to access bank loans