Resolution No 10/2017 of the municipal People’s Council, which seeks to encourage investment to transform the farm sector into a modern, efficient and sustainable one in 2017-20, provides for the subsidy. The loan amount entitled to the support will be based on the investment scale and the regulations of the lending organisation. The subsidy will be equal to the average VND12 month deposit interest rate at four State-owned banks - Agribank, BIDV, Vietcombank, Vietinbank - plus 2%. If the lending interest rate is lower than the subsidy rate, the subsidy provided will be equal to the former. The subsidy will cover the following components: basic construction, machinery and equipment for agricultural production and processing, harvesting birds’ nest, buying new fishing vessels and upgrading machine capacity, replacing existing unproductive dairy cows, and seed and hi-tech agricultural production. The term of support will depend on the approved production cycle but not … [Read more...] about HCM City to pay interest for hi-tech farms
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North-South Expressway: domestic investors fear foreign competition
Vu Duc Nhan, deputy CEO of transport firm Phuong Thanh Tranconsin Jsc, told VnExpress that the Ministry of Transport requires an investor to have an owner’s equity of 20 percent of the cost of a North-South Expressway project. This means that if a project costs VND5 trillion ($215 million), an investor needs to have VND1 trillion ($43 million) in owner’s equity. The investor also needs to have experience in a similar project in scale, he added. "Very few Vietnamese companies have that money. Only some have recently invested in major national highways." A tightened credit policy on build-operate-transfer (BOT) projects is adding to the burden, Nhan said. Banks are charging an annual interest rate of 11 percent, higher than the 7.8 percent the Ministry of Transport estimated earlier when calling for investors. Many BOT projects are struggling to collect enough tolls due to lower traffic than estimated, making investors reluctant to take on expressway projects, he … [Read more...] about North-South Expressway: domestic investors fear foreign competition
Transnational expressway investor selection to take until August 2020
The three additional months are needed to carry out new preliminary evaluations of investors before they can bid for the public-private partnership (PPP) work, according to a recent report the government made to the National Assembly. Next year, the evaluations are expected to be completed by February, the contractor identified by August, and the tendering process completed by November, the report said. In September the Ministry of Transport decided not to invite foreign bids for the eight sections of the expressway to be built under the PPP model, saying only a few qualified and this could lead to a low level of competition. Sixty investors, half of them Chinese, submitted expressions of interest for the eight sections, but for four of them no investor met all the requirements, while for the rest only one to three did so, the ministry said in a statement. It then decided to invite fresh tenders with lowered criteria for the North-South Expressway from local investors, to "ensure … [Read more...] about Transnational expressway investor selection to take until August 2020
Deputy PM orders technical opening of Bac Giang – Lang Son expressway
The opening of the Bac Giang – Lang son expressway project shorten the time of traveling from Hanoi to Lang son from 3.5 hours down to 2.5 hours. (Photo: Viet Hung/VietnamPlus) - Deputy Prime Minister Trinh Dinh Dung on September 29 afternoon officially ordered the technical opening of the Bac Giang – Lang son expressway project. The Bac Giang – Lang son expressway project officially got the technical opening on September 29 afternoon, shortening the time of traveling from Hanoi to Lang Son from 3.5 hours to about 2.5 hours compared to the old Highway 1. According to Ho Minh Hoang, President of the Deo Ca Group, the Bac Giang – Lang son expressway project was started in 2015. However, investors of that stage were poor in resources and management ability and, as a result, the pace was nearly 2 years slower (by June 2017, the Highway 1 segment was only 13 percent of the output and the expressway segment was not implemented). The top investor of the stage … [Read more...] about Deputy PM orders technical opening of Bac Giang – Lang Son expressway
Vietnam’s M&A market declines in 2018
Vietnam’s M&A market is forecast is expected to touch $6.5-$6.9 billion in 2018 (Photo: baodautu.vn) Hanoi (VNS/VNA) – Vietnam’s M&A market is forecast to reach 6.5-6.9 billion USD in 2018, which is lower than the 2017’s record of 10.2 billion USD. “We expect the M&A value in 2018 to decline from 2017, as this year may not have as big deal as Sabeco,” said Dang Xuan Minh, AVM Vietnam’s CEO. Vietnam’s merger and acquisition (M&A) market hit over the 10-billion-dollar landmark for the first time last year and is at the turning point to reach a new era of opportunities in the next decade. M&A value continued to rise 55 percent year-on-year to reach 3.55 billion USD in the first six months of this year. “One year ago, even very optimistic forecasts hardly envisaged the M&A boom in 2017 which thrust Vietnam’s M&A value to 10.2 billion USD, a growth of 175 percent over 2016. This is a record number, … [Read more...] about Vietnam’s M&A market declines in 2018
