To date, four of the eight interested investors submitted documents to join the auction to become the strategic investor of Vietnam Oil Corporation (PV Oil)—Vietnam's second largest petrol distributor—four less than the figure published earlier this year. Does this mean PV Oil is losing its appeal? Only half of the investors that expressed interest have signed up for the PV Oil auction According to the draft regulation on the sale of shares to strategic investors submitted to the authorities for approval, PV Oil released that after completing the investment evaluation, to date, four investors confirmed joining the auction to become strategic investors, registering to buy 2.86 times more shares than was put on offer. However, the names of these four investors have yet to be disclosed. Previously, at a roadshow organised in Ho Chi Minh City in early January, the firm revealed that it was courted by eight hopeful investors, six of which hail from overseas. The … [Read more...] about PV Oil loses appeal to foreign investors?
An investment report to potential investors
PM urges response to potential impacts of U.S. tax overhaulThe Saigon Times Daily HCMC – Prime Minister Nguyen Xuan Phuc has asked the Ministries of Finance, Industry-Trade and Planning-Investment to get ready to address possible impacts of America’s new tax reform on Vietnamese enterprises, news website Dan Tri reports. Under the U.S. tax reform, its corporate income tax rate is slashed to 21% from the current 35%, while overseas investments transferred back to the U.S. will be taxed 10.5%, making the U.S. among the countries with the lowest tax rates. The Ministry of Industry and Trade will update changes in policies of countries worldwide when the U.S. enforces the new law and assess potential effects on Vietnam to take appropriate coping measures in a timely manner. PM Phuc also assigned the Ministry of Finance to work with the Ministry of Planning and Investment to study tax and investment problems that the Prime Minister’s Economic Advisory Group has warned of, … [Read more...] about PM urges response to potential impacts of U.S. tax overhaul
Foreign direct investment (FDI) in Việt Nam surged to US$7.71 billion in the first quarter of 2017, exceeding the amount during the same period in 2016 by 91.5 per cent. Figures released Friday by the planning and investment ministry's Foreign Investment Agency (FIA) showed that during this period, there were 493 newly approved projects with a total registered capital of up to $2.9 billion, up by 6.5 per cent compared to the same period last year.At the same time, 223 projects from the previous years applied for capital adjustment, for an added amount of $3.94 billion, representing a 206 per cent year-on-year rise. Foreign investors also contributed $852.8 million to local projects in the period, a 171.5 per cent from the corresponding period last year. Capital disbursement for FDI in the first quarter of 2017 was estimated to reach $3.62 billion, up by 3.4 per cent compared to the same period in 2016. The rapid increase of FDI in Việt Nam is because of several large-scale newly … [Read more...] about Q1 foreign direct investment surges to $7.71b DTiNews
Ca Mau seeks to woo investors Hung Le HCMC – The government of Ca Mau Province at an investment promotion conference in HCMC last Friday pledged to offer strong incentives for investors, from preferential tax and low land rent to easy administrative procedures and support in site clearance and worker training. Nguyen Tien Hai, chairman of Ca Mau Province, said the local government would continue creating a transparent and favorable business and investment environment for domestic and international investors doing business in the southernmost province. To do so, provincial authorities will further invest in infrastructure, step up training for workers, and streamline administrative procedures among others, Hai told the conference “Ca Mau – Potentials and Investment Opportunities” organized in HCMC last week. “Investors in the province will be offered the most favorable conditions for implementing their projects successfully,” Hai stressed. With … [Read more...] about Ca Mau seeks to woo investors
An Giang Resorts to Internal Resources for Socioeconomic Development As a southwest border province of the country and one of four provinces in the Mekong Delta key economic zone, An Giang is seen to have a lot of potential for developing agriculture, trade, service and tourism. On that basis, the province has introduced many solutions to tap existing local potential and advantages to create a solid foundation for achieving objectives set in the Resolution of the 10th Provincial Party Congress and An Giang Socioeconomic Development Plan for 2016-2020. Priority to develop existing potential According to a report from the An Giang Provincial People's Committee, the province’s GDP growth rate averaged 8.63 per cent in the 2011-2015, with an absolute value of VND8,640 billion added to gross domestic product (GDP). The economic structure was shifted in a positive pattern, with the service sector accounting for 60.29 per cent of the economy, the agricultural sector accounting for … [Read more...] about An Giang Resorts to Internal Resources for Socioeconomic Development