For example, the Mitsubishi Group has invested US$290 million in a joint venture with Vietnam’s Bitexco to develop the Manor Central Park in Hanoi.  In the first stage of cooperation, the two sides agreed to establish a joint venture to develop 240 low-rise buildings and two high-rise buildings with 1,036 apartments. In September 2016, the Kajima Overseas Asia company spent US$500 million to establish the Indochina Kajima Development joint venture with Indochina Capital. Both plan to invest in Vietnam’s real estate market in the next 10 years. More recently, Sanyo Home invested in the field via cooperation with Tien Phat company under the Hoa Binh property business and construction joint stock company to invest in the Ascent Lakeside project in District 7, HCM City. Meanwhile, Sumitomo will invest in the Nhat Tan-Noi Bai urban area in … [Read more...]

Singapore's United Overseas Bank has received the in-principle licence from the State Bank in Vietnam to open a subsidiary in the country. UOB is the first Singaporean bank to receive the licence for a foreign-owned subsidiary in Vietnam The bank will become the first Singaporean financial institution to set up a 100-per-cent foreign owned entity in Vietnam. This licence would enable UOB to extend its branch network beyond Ho Chi Minh City and offer its financial services to businesses and consumers in other cities. The Singaporean bank considers setting up a branch in Hanoi, which is Vietnam’s gateway to fast-developing cities in the northern region, such as Haiphong, Quang Ninh and Hai Duong. Wee Ee Cheong, deputy chairman and CEO of UOB, said that the in-principle licence marks the start of a new chapter … [Read more...]

Many Japanese firms such as Mitsubishi, Maeda, Kajima, Sumitomo and Creed Group have made investments worth tens to hundreds of millions USD in the Vietnamese realty market within over the past year. Japanese capital flows in real estate in Vietnam For example, the Mitsubishi Group has invested 290 million USD in a joint venture with Vietnam’s Bitexco to develop the Manor Central Park in Hanoi. In the first stage of cooperation, the two sides agreed to establish a joint venture to develop 240 low-rise buildings and two high-rise buildings with 1,036 apartments. In September 2016, the Kajima Overseas Asia company spent 500 million USD to establish the Indochina Kajima Development joint venture with Indochina Capital. Both plan to invest in Vietnam’s real estate market in the next 10 years. More recently, Sanyo Home invested in the field via cooperation with Tien Phat company under the Hoa Binh property … [Read more...]

In 2016 and the first half of 2017, Vietnam has seen a series of multimillion dollar mergers and acquisitions (M&A) deals. A quick recap of the world of M&A before Vietnam M&A Forum 2017 RELATED CONTENTS: Lagging M&A scene looking for a big push Vietnam M&A Forum 2017 coming in August Asiatic buyers seek quality in M&A             Here is the list of Vietnam’s top merger and acquisition deals (The … [Read more...]

A downpour that lasted hours in Ho Chi Minh City on Wednesday submerged many of the city’s streets, putting a real damper on the evening commute. The heavy rain that started at around 4:30 pm and lingered until 7:00 pm severely inundated multiple streets across the southern city. Ung Van Khiem Street in Binh Thanh District was one such street where knee-high flooding posed immense challenges for commuters. Houses along the road were also flooded by the torrential rain. Floodwaters in areas near the Saigon Bridge in Binh Thanh District rose so high that drivers were unable to differentiate between roadways and sidewalks.  Motorcycle drivers were forced to either risk breaking down or find a dry place to wait for the water to recede. The prolonged downpour also caused flooding in Go Vap District, Thu Duc District, and District 9. Commuters travel on Nguyen … [Read more...]

Japanese capital flows in real estate in Vietnam (Illustrative image. Source: VNA) Hanoi (VNA) – Many Japanese firms such as Mitsubishi, Maeda, Kajima, Sumitomo and Creed Group have made investments worth tens to hundreds of millions USD in the Vietnamese realty market within over the past year. For example, the Mitsubishi Group has invested 290 million USD in a joint venture with Vietnam’s Bitexco to develop the Manor Central Park in Hanoi. In the first stage of cooperation, the two sides agreed to establish a joint venture to develop 240 low-rise buildings and two high-rise buildings with 1,036 apartments. In September 2016, the Kajima Overseas Asia company spent 500 million USD to establish the Indochina Kajima Development joint venture with Indochina Capital. Both plan to invest in Vietnam’s real estate market in the next 10 years. More recently, … [Read more...]

As traditional investment channels such as gold and U.S. dollars become less reliable, investors in the southern metropolis have begun directing their resources toward the realty sector. The real estate market has become a frequently-discussed topic since the beginning of 2016. Minh Hanh, one Ho Chi Minh City resident who has managed to accumulate some VND1 billion (US$44,272) in savings, said that she used to invest in gold and dollars whenever she saw an opportunity. “I was able to profit considerably from buying and reselling these assets,” Hanh elaborated. “But that was years ago.” Gold and dollar prices in Vietnam have been decreasing in value of late, making it not worth the risk, Hanh continued, adding that she was seeking potential form other channels including stocks and real estate. According to Tran Thanh Hai, an expert in … [Read more...]

The first half of 2017 has passed, and while no investor has announced plans to buyout a domestic cement company, signs of an impending takeover have not decreased. RELATED CONTENTS: SCG gunning for increased market share after takeover TH Group cement co-operation with Japanese partner Cement export tax burdens domestic firms PM asks Thailand’s SCG group to expand investment in Vietnam Cement sector attracting foreign investment Recently, M&A development in the construction materials sector has been one-sided as foreign companies take over domestic counterparts. In March 2017, SCG Cement and Building … [Read more...]

Lotus-inspired design chosen for Long Thanh int’l airport (Source: VNA)  Hanoi (VNA) – The Transport Ministry has chosen a lotus-inspired design for a terminal at Long Thanh international airport in the southern province of Dong Nai. Lai Xuan Thanh, Chairman of the Board of Directors of the Airports Corporation of Vietnam (ACV) said the decision was made after receiving public feedback in Hanoi, Da Nang, Dong Nai and Ho Chi Minh City and from associations such as the Vietnam Association of Architects, the Vietnam Urban Planning and Development Association, the Federation of Civil Engineering Associations and the Vietnam Association of Aviation Science and Technology. Earlier, 26 experts from ministries, agencies and professional associations led by Director General of the Civil Aviation Administration of Vietnam Dinh Viet Thang formed an advisory team to choose the … [Read more...]

NDO/VNA – Authorities of Ho Chi Minh City will closely coordinate with the Republic of Korea to prepare for the Ho Chi Minh City – Gyeongju World Culture Expo 2017, said Permanent Vice Chairman of the municipal People’s Committee Le Thanh Liem on July 20. He made the statement during a reception for Secretary General of the event’s Organising Committee Lee Dong Woo in the city. Speaking highly of the significance of the festival, Liem noted that the event, which is featuring an array of cultural exchange activities, will help deepen mutual understanding and solidarity between people of the two nations and enhance their bilateral strategic partnership. The two sides’ competent authorities are actively cooperating with each other for the hosting of the expo, which demonstrates the interest and goodwill of the two local governments, the official said. He commended the Organising Committee for drawing up a detailed master plan for the … [Read more...]

NDO – Prime Minister Nguyen Xuan Phuc has urged Ben Tre to prioritise land funds for investors in the fields of aquaculture, hi-tech agriculture and the manufacturing industry while addressing an investment promotion conference held in the Mekong Delta province on July 20. The PM highlighted Ben Tre’s advantages in terms of natural conditions as well as its geographical position near the country’s largest economic centre, Ho Chi Minh City, noting that the province’s leading strategic goal is to attract large investors that have strengths in advanced-technology, financial capital and management skills, and foresee their opportunities closely associated with Ben Tre’s unique conditions. From that point of view, he recommended four elements that should be facilitated by Ben Tre in order to draw investors to the province, including the land fund for investors, infrastructure, a facilitative government and skilled human resources. In addition to … [Read more...]

Vietnam’s first Energy Efficiency Network has been officially launched in Ho Chi Minh City, giving a platform for companies to connect and improve energy efficiency.   Eight local companies from the textile, paper, logistical, rubber, and plastic sectors are the first participants of the network Speaking at the launch, Markus Bissel, head of the Energy Efficiency component of the project, said, “The objective of the network is to provide a platform to connect companies to improve energy efficiency by sharing and learning from each other.” He added this would be done by structured processes moderated by German energy efficiency experts. Companies will also benefit from energy audits and advice from qualified local experts, as well as linkage to German technology and services. The … [Read more...]

Domestic and foreign businesses are rushing to invest in infrastructure projects in Hanoi to cash in on the growing local demand. More investors are interested in investing in Hanoi’s infrastructure projects, Photo: Duc Thanh In late June, a number of companies got approval for their infrastructure projects at the “Hanoi 2017 – Investment and Development Co-operation” conference, reflecting the current trend in the field. A joint venture (JV) between Aquaone and Duong River Surface Water JSC signed a memorandum of understanding (MoU) with Hanoi to develop a clean water supply system in the city with an estimated investment sum of VND5 trillion ($227.27 million). The JV will have Maynilad, one of the leading water and wastewater services conglomerates in the Philippines, as a partner in these … [Read more...]

Merger and acquisition (M&A) activities in Vietnam in 2017 will need a big push, as the market is forecasted to go through a slowdown due to a lack of large deals from foreign investors as well as the state’s delay in divestment from state-owned enterprises. VIR editor-in-chief Le Trong Minh at the press conference According to the report released at the press conference this morning, in 2016, the total value of M&A deals in Vietnam reached a nine-year record of $5.8 billion, signifying an 11.92 per cent increase against 2015 performance. However, since the end of 2016, M&A activities have been slow, with an acute lack of large deals. In the first quarter of 2017, the total value of M&A deals in Vietnam was only $1.1 billion. This opinion was voiced by experts at “Vietnam M&A … [Read more...]

NDO – Vietnam Summer Camp 2017 kicked off at a ceremony held by the Foreign Ministry’s State Committee for Overseas Vietnamese Affairs (SCOVA) and the Ho Chi Minh City People's Committee, in Ho Chi Minh City, on July 19. Under the theme ‘Young expats proud of the southern land’, activities in the program aim to teach the tradition of “when drinking water, think of its source”; about the national historical culture, customs and people of Vietnam; charitable activities; promote exchanges between young people and students in localities; and to teach them about cultural preservation and natural environment protection in the Mekong Delta. The event takes place from July 18 to 31 in Ho Chi Minh City, Can Tho city and other provinces in the Mekong Delta, featuring the participation of 110 students and young people aged from 16 to 23, who are the children of Vietnamese overseas. Speaking at the launch ceremony on July 19, Vice Chairwoman of the … [Read more...]

NDO – Reigning national futsal champions Thai Son Nam will represent Vietnam to compete at the 2017 AFC Futsal Club Championship, scheduled to take place at Phu Tho Gymnasium, in Ho Chi Minh City, from July 20 to 30. The ten-day event will gather the participation of the 14 strongest futsal clubs from the United Arab Emirates (UAE), Iraq, Qatar, Japan, Thailand, China, Kyrgyzstan, Tajikistan, Uzbekistan, Australia, Lebanon and hosts, Vietnam. The participating teams will battle it out in a round robin tournament of four groups, with the top two placed teams of each group advancing to the quarterfinals. Thai Son Nam Club has been drawn in Group A, together with Erem (Kyrgyzstan), Al Dhafra (UAE) and Vic Vipers (Australia). The best result achieved by Thai Son Nam at the AFC Club Championship was a third-place finish, along with the Fair Play prize, in Iran two years ago. The door is wide open for the Vietnamese representatives to seize one of Group … [Read more...]

NDO – Vietnam produced a flying start to their 2018 AFC U-23 Championship qualifiers campaign by impressively thrashing Timor Leste with four unanswered goals in their Group I opener at Thong Nhat Stadium in Ho Chi Minh City on July 19. Crowd favourite, striker Nguyen Cong Phuong, lived up to expectations by scoring twice for the home side, including one finish from the penalty spot. The remaining two goals were scored by Ha Duc Chinh and Nguyen Tuan Anh. The rain-soaked stadium prevented both teams from properly deploying their set tactics. Despite being the underdogs, Timor Leste created the first opportunity of the match after four minutes with a close-range strike by forward Monteiro, which beat Vietnamese goalkeeper Tien Dung but unluckily for the away side stopped right in front of the goal line due to a small puddle. After a poor opening, Vietnam gained confidence and began to take control of the game. In the 17th minute, taking advantage of a scrappy … [Read more...]

NDO/VNA - Party General Secretary Nguyen Phu Trong left Hanoi in the morning of July 20 for a State visit to Cambodia from July 20-22 at the invitation of Cambodian King Norodom Sihamoni. General Secretary Trong’s entourage include Pham Minh Chinh, Politburo member and head of the Party Central Committee’s Commission for Organisation; Pham Binh Minh, Politburo member, Deputy Prime Minister, Minister of Foreign Affairs and head of the Vietnam sub-committee of the Vietnam-Cambodia Cooperation Committee; Nguyen Thien Nhan, Politburo member and Secretary of Ho Chi Minh City Party Committee; and Uong Chu Luu, Party Central Committee member, National Assembly Vice Chairman and chairman of the Vietnam-Cambodia friendship parliamentary group. The visit, the second state-level visit to the neighbouring nation by the Party leader, will be made on the occasion of the 50th anniversary of diplomatic ties (June 24) and in the context of sound overall relations. It aims to promote … [Read more...]

NDO/VNA - Party General Secretary Nguyen Phu Trong left Hanoi in the morning of July 20 for a State visit to Cambodia from July 20-22 at the invitation of Cambodian King Norodom Sihamoni. General Secretary Trong’s entourage include Pham Minh Chinh, Politburo member and head of the Party Central Committee’s Commission for Organisation; Pham Binh Minh, Politburo member, Deputy Prime Minister, Minister of Foreign Affairs and head of the Vietnam sub-committee of the Vietnam-Cambodia Cooperation Committee; Nguyen Thien Nhan, Politburo member and Secretary of Ho Chi Minh City Party Committee; and Uong Chu Luu, Party Central Committee member, National Assembly Vice Chairman and chairman of the Vietnam-Cambodia friendship parliamentary group. The visit, the second state-level visit to the neighbouring nation by the Party leader, will be made on the occasion of the 50th anniversary of diplomatic ties (June 24) and in the context of sound overall relations. It aims to promote … [Read more...]

Vietnamese Party chief Nguyen Phu Trong has praised the positive developments of the Vietnam- Laos relationship over the past five decades. A grand ceremony was held in Hanoi on Tuesday morning to mark the 55th anniversary of the two nations’ diplomatic ties and 40 years of the signing of the Vietnam-Laos Treaty of Amity and Cooperation. The event was attended by Trong, General Secretary of the Communist Party of Vietnam, State President Tran Dai Quang, Prime Minister Nguyen Xuan Phuc, and Naitional Assembly Chairwoman Nguyen Thi Kim Ngan, along with other high-ranking officials. The Laotian delegation included Vice President Phankham Viphavanh and several elite officials. Speaking at the celebration, Trong stated that Vietnam and Laos are very close neighbors and the two peoples have a special and traditional bond. The bilateral ties have been deepened and effective in many fields and types of … [Read more...]