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?
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Viet Nam News QUẢNG NAM - Organic farming, hi-tech agriculture, tourism and services - these are the key growth areas for Quảng Nam Province, Prime Minister Nguyễn Xuân Phúc said yesterday. He said the central province use its two world heritage sites - Hội An City and Mỹ Sơn Sanctuary, as well as other attractions like a 124km long coastline and the world biosphere site Chàm Island, to build itself as an international recreational and tourism centre. The PM was addressing a conference held in Tam Kỳ City, Quảng Nam, on investment in the central province. The conference was attended by more than 1,000 participants including investors and representatives from financial institutions. Phúc said Quảng Nam has great potential in terms of its natural resources, human resources and connectivity (airport, seaport, roads, railways and the national Expressway systems). He said the province has to make a plan for the next 20 years for hosting a large number investors and tourists. It should … [Read more...] about PM urges Quảng Nam to attract long-term investors – Society – Vietnam News Politics, Business, Economy, Society, Life, Sports
NEW DELHI (VNS) — Viet Nam welcomed investors from India, General Secretary of the Communist Party of Viet Nam (CPV) Nguyen Phu Trong said at an Indian Business Forum in Mumbai as part of his State visit to India. Trong said trade and investment between Viet Nam and India was growing strongly. India is one of Viet Nam's 10th largest trading partners. Two-way trade has grown at an annual rate of more than 12 per cent in recent years, reaching US$3.94 billion in 2012. The two sides target $7 billion in bilateral trade by 2015 and $15 billion by 2020. By June 2013, Indian businessmen had established 74 projects in Viet Nam with a total registered investment of more than $252 million. Trong told representatives from Indian companies that he and Indian Prime Minister Manmohan Singh had witnessed the signing of a series of important co-operation documents between the two countries. However, he noted that bilateral trade remained modest, expressing the wish that the two sides … [Read more...] about Viet Nam welcomes investors from India
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
Business environment needs stability Around 55,000 enterprises in Vietnam may file for bankruptcy by the end of this year but the situation was not overly serious, one official said. Bui Anh Tuan, Deputy Director of the Ministry of Planning and Investment's Business Registration Division, made the comment at a seminar on business development and investment in Hanoi on December 11. "The situation in Vietnam is not really that pessimistic as the country recorded nearly 48, 473 bankrupted enterprises in the first eleven months of the year. This is the same as the rate of from 11%-15% annual bankrupted enterprises in Japan and the US," Tuan said. The country is estimated to have 65,000 new businesses this year, meaning the country will still have 10,000 more operational enterprises during the year, he assessed. However, he admitted that due to the large number of enterprises filing for bankruptcy, it has resulted in a deficiency in state budget revenues this year. Deputy … [Read more...] about BUSINESS IN BRIEF 19/12