Pham Nhat Vuong still in the world’s billionaires list

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VietNamNet Bridge - Pham Nhat Vuong, founder and chairman of conglomerate Vingroup, remains the sole Vietnamese cited in Forbes magazine's annual list of the world's richest people. With an anonymous source worth at least US$1.6 billion, Vuong ranked 1.092 out of a record setting 1.645 billionaires who made the list released on March 3. Forbes estimates that in 2013, Vuong netted US$1 billion through a mix of investments and private equity and real estate deals. He also participated in … [Read more...]

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Pham Nhat Vuong in the world’s billionaires list

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(VOV) - Pham Nhat Vuong, founder and chairman of conglomerate Vingroup, remains the sole Vietnamese cited in Forbes magazine's annual list of the world's richest people. With an anonymous source worth at least US$1.6 billion,Vuong ranked 1.092 out of a record setting 1.645 billionaires who made the list released on March 3. Forbes estimates that in 2013, Vuong netted US$1 billion through a mix of investments and private equity and real estate deals. He also participated in a high profile … [Read more...]

Richest families earn money from property, finance sectors

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VietNamNet Bridge - Though the real estate market has been cool for a long time with the prices bottoming down, it remains a profitable business which helps a lot of Vietnamese families get rich. The most brilliant businessmen in real estate sector While the cash flow to the stock market on the last days of 2013 was so weak, it made a lot of stocks fall in price. VIC shares of Pham Nhat Vuong, a real estate billionaire, were still traded at VND70,000 per share, a high price level. HAG shares … [Read more...]

BUSINESS IN BRIEF 22/9

Dong Nai receives $1bn FDI The southern province of Đong Nai has attracted more than US$1 billion from foreign direct investment (FDI) despite the economic downturn, said Bo Ngoc Thu, director of the province's planning and investment department. The figures places the southern province third nationally in attracting FDI after Binh Dương Province, also in the South, and the northern city of Hai Phong. In the past eight months, Đong Nai has granted investment licences to 34 enterprises with … [Read more...]

Internal audits are necessary: experts

Thanh Thuong He was speaking at ‘Putting investors at the heart of the financial system’ workshop held by UK-based Association of Chartered Certified Accountants (ACCA) and Grant Thornton in HCMC on Monday. Participants at the workshop shared the view that in the future, accounting and auditing standards should be revised, or financial information disclosure should focus more on what investors need. Andy Ho, managing director of VinaCapital Investment Fund, said investors need … [Read more...]

Low labor quality hinders investments in Mekong

This view was shared by local businesses and foreign investors at a seminar on investment promotion for Can Tho City and the Mekong Delta co-organized by the Vietnam Chamber of Commerce and Industry (VCCI), the 2030 Business Club under the Saigon Times Club and Can Tho Promotion last Friday in HCMC. Ha Xuan Anh, chairman of Son Viet Garment Corporation, known for the fashion brand Relax, said the Mekong Delta, with around 18 million people, 22% of the national population, is considered a … [Read more...]

BVSC completes biggest M&A deal

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Bao Viet Securities Company (BVSC) announced it has successfully completed the merger of Vinpearl into Vincom, Vietnam's biggest ever merger. Accordingly, 158 million new shares issued by Vincom for Vinpearl shareholders will be officially traded on Ho Chi Minh Stock Exchange (HoSE) on February 3, marking a milestone for the biggest merger deal. All Vinpearl shares (VPL) will then be converted into Vincom (VIC) shares and the new company would be renamed the Vietnam Investment Group … [Read more...]

Cash-starved firms should look to foreign money: experts

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With banks tightening credit, foreign investment was now domestic firms' main hope for raising working capital, analysts said at a meeting held in Ho Chi Minh City Thursday. DongA Bank deputy general director Nguyen Thi Kim Xuyen said banks only provide loans to companies in essential sectors like pharmaceuticals and gasoline and for importing agricultural machinery. … [Read more...]

BIDV donates VND 15bln to Phu Yen Hospital

The bank of Investment and Development of Vietnam (BIDV) has just handed over medical equipment pack worth VND 15billion to Phu Yen Pediatrics and Obstetrics Hospital in the central province of Phu Yen. It is part of major social security campaign for health sector in the central southern region launched by the state bank and asked BIDV to carry out. Phu Yen Pediatrics and Obstetrics Hospital has received and treated thousands of patients every year. Phu Yen Pediatrics and Obstetrics Hospital … [Read more...]

Transferring 14-billion-dong worth medical equipment

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Bank of Investment and Development of Vietnam-BIDV has just coordinated with the Heath Department to organize the ceremony of transferring medical equipment to Phu Yen pediatrics and obstetrics hospital. At the ceremony, director of Health Department, Mr. Phan Vu Nhan, let known: in 2014, from BIDV's support sources, Phu Yen pediatrics and obstetrics hospital has invested in purchasing 30 pieces of necessary medical equipment with modern configuration and technical features like breathing … [Read more...]

Investment in Myanmar Requires Good Strategy and Wise Plans

This statement comes from Mr Tran Bac Ha, Chairman of the Association of Vietnamese Investors in Myanmar (AVIM) during an interview with Vietnam Business Forum. Le Phuong reports.

Can you give us a brief review of AVIM's activities in promoting Vietnam's investment in Myanmar, three years after coming into operation? … [Read more...]

SBV vows vigilance as forex, gold prices tumble

HA NOI (VNS) — The price of gold at commercial banks declined sharply yesterday after the State Bank of Viet Nam announced a commitment to stabilising the gold and forex market. After the market was affected by the current East Sea dispute between Viet Nam and China, the Central Bank confirmed that the gold and forex market would continue operating normally. Central bank leaders stressed that they continued to monitor the situation of the gold and forex market closely and were willing to take … [Read more...]

Vietnamese investors assist victims of Lao plane crash

The presenting ceremony (Source: VNA)

The Association of Vietnamese Investors in Laos on May 19 handed over 47,000 USD to the Lao Government Office to assist families of victims of the deadly May 17 plane crash in the country. According to Pham Quang Tung, Deputy Director General of the Bank of Investment and Development of Vietnam (BIDV), Vietnamese businesses in Laos hope to share the loss that the victims' families as well as the whole nation of Laos are suffering. … [Read more...]

Quang Binh urged to vary investment promotion techniques

Deputy PM Phuc speaks at the conference. (giadinh.net.vn)

Nhan Dan - Deputy Prime Minister Nguyen Xuan Phuc has asked the central province of Quang Binh to diversify its ways of calling for and promoting investment in order to attract additional backing for the province. Deputy PM Phuc made the statement on April 5 while attending the first investment promotion conference jointly held by the Quang Binh provincial People's Committee and the Bank of Investment and Development of Vietnam (BIDV). He also urged local authorities to establish a public … [Read more...]

Schools named after General Vo Nguyen Giap upgraded

General Vo Nguyen Giap was visiting ethnic people  Photo: internet

(VOVworld) - A ground-breaking ceremony was held Sunday for a project to upgrade Vo Nguyen Giap primary and secondary schools in Muong Phang commune of Dien Bien province. The project has a total capital of 500,000 USD and is funded by the Bank of Investment and Development of Vietnam or BIDV. Under the project, Vo Nguyen Giap primary and secondary schools will be upgraded with more classrooms and dormitories as well as necessary equipment to meet the national standards. The project is part of … [Read more...]

Flyover at Vung Tau Roundabout Opens

The flyover in Vung Tau Roundabout in the southern province of Dong Nai (Source: NLD)

The steel flyover in Vung Tau roundabout in the southern province of Dong Nai opened to traffic on January 19. The fly-by is designed for motorbikes, cars and buses weighing up to 30 tons traveling as fast as 60 kmph. The monstrous highway has four lanes, 16 meters wide and 558 meters long. The overpass is part of VND1,648 billion (US$78 million) project by the Dong Nai Bridge Project. On the same day a section of Hoa An Bridge in the central province of Ha Tinh was opened to traffic. … [Read more...]

Bank of Investment and Development of Vietnam Opens Stocks

Bank for Investment and Development of Vietnam announced more than 2.81 billion of the company's shares will open for trade in Ho Chi Minh City Stock Exchange starting January 24. The shares, worth more than VND28.11 trillion, can be traded at VND18,700 per share with +/- 20 percent in its first season. Along with CTG of VietinBank, VCB of Vietcombank, MBB of MBBank, EIB of Eximbank and STB of Sacombank, Bank for Investment and Development of Vietnam will be the sixth banking stock to list on … [Read more...]

Cho Ray-Phnom Penh hospital inaugurated in Cambodia

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After its first phase of construction was completed, Cho Ray-Phnom Penh General Hospital, the first healthcare cooperation project between Vietnam and Cambodia, was put into operation in Phnom Penh on Monday. The seven-story hospital in the Meanchey District, the construction of which began in May 2010, has such departments as surgery, internal medicine, obstetrics, pediatrics, cardiology, trauma, orthopedics, emergency aid, imaging diagnosis, medical testing, general examination, and … [Read more...]

Doctor Do Chau Viet, Nhi Dong 2 hospital

Prime Minister Nguyen Tan Dung called on Vietnamese localities, businesses and hospitals to invest more in Cambodia , contributing to fulfilling local people's demand for healthcare and consolidating the traditional friendship between the two countries. The PM made the appeal at the inaugural ceremony of the Cho Ray-Phnom Penh general hospital, the first cooperative project in healthcare between Vietnam and Cambodia , in Phnom Penh on January 13. He laid stress on the rapid development of … [Read more...]

PM calls for more investment in healthcare in Cambodia

PM Nguyen Tan Dung and his Cambodian counterpart Hun Sen visited the hospital (Photo: VNA)

Prime Minister Nguyen Tan Dung called on Vietnamese localities, businesses and hospitals to invest more in Cambodia, contributing to fulfilling local people's demand for healthcare and consolidating the traditional friendship between the two countries. The PM made the appeal at the inaugural ceremony of the Cho Ray-Phnom Penh general hospital, the first cooperative project in healthcare between Vietnam and Cambodia , in Phnom Penh on January 13. He laid stress on the rapid development … [Read more...]