In December Hồ Chí Minh Development Joint Stock Commercial Bank (HDBank) had sold stakes to more than 76 foreign investors before listing.— Photo ndh.vn by Thiên Lý Since last year there has been a churn in the banking sector with some foreign investors selling their stakes in local banks and others buying in. France’s BNP Paribas, HSBC and Australia’s Commonwealth Bank have been among those pulling out. ANZ sold its retail banking division to Korea’s Shinhan Bank and Standard Chartered Bank sold its entire 8.75 per cent stake in Asia Commercial Bank. Analysts said foreign banks are merely pulling out to invest in more profitable markets. Some pointed out that Asian banks which enter Việt Nam seem to be more successful than their western counterparts. They attributed this to their better understanding of the local market and business culture. But even in the case of western funds, the flow is not one-way: Just this month … [Read more...] about Clean-up makes Việt Nam banks attractive to foreign investors
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Vietnam has climbed eight spots on the latest Doing Business Report compiled by the World Bank. This year, Vietnam ranked 82 out of 190 economies, showing that the country has strengthened its protection of small investors, the report showed. The Southeast Asian country improved in three of the 10 indicators the World Bank uses to measure regulations affecting the life cycle of a business. There has been significant progress in the areas of Protecting Minority Investors, Paying Taxes and Trading Across Borders. “Vietnam made paying taxes easier and less costly by streamlining the administrative process of complying with tax obligations and abolishing environmental protection fees,” said the report. It added that Vietnam has made trading across borders easier by implementing an electronic customs clearance system. For instance, in 2012, it took a business on average 872 hours per year to meet its tax obligations. This year, the time required to comply with tax payments … [Read more...] about Small investors finding life easier in Vietnam: World Bank
Vietnamese budget airline Vietjet Air will start trading 300 million shares on the Ho Chi Minh City Stock Exchange (HoSE) on February 28 at VND90,000 ($3.9) per share. As Vietnam's largest private airline nears its landmark initial public offering, foreign investors contemplate buying the remaining 25 per cent of the 49 per cent foreign ownership limit. As previously reported by VIR, only 24.39 per cent of foreign ownership has been reached as of January 12. The IPO will be a test on how much foreign capital Vietjet can rally by promising continued expansions and rising profit, banking on the past few years of impressive growth that turned Vietjet from a start-up to a major carrier that is expected to soon own the biggest market share in Vietnam. At the VND90,000 ($3.9) price, which values Vietjet at $1.2 billion, the airline will join the ranks of Vietnam's biggest publicly-traded companies by market capitalisation. With only a few days before the listing, Vietjet's shares in … [Read more...] about Foreign investors show interest, will Vietjet’s shares fly high?
Netflix Inc. has offered its video-streaming service live in more markets around the globe including Vietnam. Reed Hastings, co-founder and CEO of Netflix, spoke during a keynote address at the 2016 CES trade show in Las Vegas, Nevada on January 6, 2016. According to Netflix media center, the world’s leading Internet television network now has more than 70 million members in over 190 countries enjoying over 125 million hours of TV shows and movies per day, including original series, documentaries and feature films. Customers in Vietnam can register for the service with a monthly fee of VND180,000 ($8) for the basic package, VND220,000 ($10) for the standard package, and VND260,000 ($12) for the premium package, according to the price list posted on Netflix’s website. They can use credit cards including VISA, MasterCard and AMEX to subscribe to the service. Currently, VOD service is also provided via smartphones, tablets, and set-top-box by local providers including FPT … [Read more...] about Major foreign investors come to Vietnam in early January – Opportunities – Investment
Skyscraper project on Han River bank cancelled In an interview by Sai Gon Giai Phong Newspaper yesterday, Da Nang's Party Secretary Tran Tho said the project to build a skyscraper dubbed a “lighthouse” on the Han River in the central city will be cancelled. Mr. Tran Tho said that Da Nang city People’s Committee has just given approval to implement the project but not yet agree to carry out the project on the river. However, after receiving the objection from the public and architects, the city authority decided to cancel the project, he said. Mr. Tho said that he had requested the city’s government to look for a new place to build the skyscraper. After the city committee approved the project, many architects and municipal development experts raised their voice against the project. They said that project would damage landscape of river that has helped the city become one of the most beautiful cities in Vietnam In addition, the project’s investor- … [Read more...] about Skyscraper project on Han River bank cancelled