Billion dollar investments

seaport master plan for 2050. Vietnam plans to mobilize investment capital from various sources coming from the State budget and private sector for its master plan of seaport development in the 2021-30 period, with a vision to 2050. Under the plan, which was recently approved by the Prime Minister, the investment capital, estimated at VND313 trillion (nearly US$13.8 billion), will be used to upgrade the seaport system that will meet the requirements of socio-economic development and international integration. By 2030, the system is expected to have a capacity of handling 1.1-1.4 billion tons of cargo, including 38-47 million TEUs of container cargo and the movement of about 10.1 to 10.3 million passengers. According to the Ministry of Transport, the funds sourced from the State budget will be invested in public maritime infrastructure and key areas to create spillover effects and attract more investment . Dinh Vu Port in the northern city of Haiphong. …

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The national flag carrier Vietnam Airlines has increased its charter capital to 22.14 trillion VND (nearly 1 billion USD) by issuing additional shares to current shareholders. The national flag carrier Vietnam Airlines has increased its charter capital to 22.14 trillion VND (nearly 1 billion USD) by issuing additional shares to current shareholders. Major shareholders of Vietnam Airlines include the Commission for the Management of State Capital at Enterprises (55.2 percent), the State Capital and Investment Corporation (31.14 percent), and ANA Group (5.62 percent). In the latest share issuance, 796.1 million shares were sold to 27,627 shareholders, equivalent to 99.51 percent of the total shares for sale, bringing in over 7.9 trillion VND. The State Capital and Investment Corporation spent more than 6.89 trillion VND to purchase shares. The plan to issue additional shares to current shareholders to raise 8 trillion VND for its business recovery from …

[Read more...] about Vietnam Airlines raises charter capital to nearly US$1 billion

Illustrative image (Source:VNA) Hanoi (VNA) – The national flag carrier Vietnam Airlines has increased its charter capital to 22.14 trillion VND (nearly 1 billion USD) by issuing additional shares to current shareholders. Major shareholders of Vietnam Airlines include the Commission for the Management of State Capital at Enterprises (55.2 percent), the State Capital and Investment Corporation (31.14 percent), and ANA Group (5.62 percent). In the latest share issuance, 796.1 million shares were sold to 27,627 shareholders, equivalent to 99.51 percent of the total shares for sale, bringing in over 7.9 trillion VND. The State Capital and Investment Corporation spent more than  6.89 trillion VND to purchase shares. The plan to issue additional shares to current shareholders to raise 8 trillion VND for its business recovery from COVID-19 pandemic was approved at the Vietnam Airlines shareholders’ meeting in July this year./. VNA …

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Nine component projects of the North-South Expressway Phase 2 will be invested in the form of public-private partnership (PPP), with total investment of about 124,619 billion VND (US$5.4 billion) during the 2021-2025 period. The Government’s draft report seeks approval from the National Assembly for further investment in 9/12 component projects for the North-South Expressway from 2021 to 2025. According to the Government, the North-South expressway consists of 12 component projects with a total length of about 729 km and a total investment capital of 154,527 billion VND. Of which, about 73,495 billion VND comes from the state budget and about 81,032 billion VND from other sources. However, the Government says that due to limited state resources, if all 12 projects are implemented, funding for other national highway projects will be affected. Therefore, the Government proposes completing 9 of 12 component projects with a length of 552 km during 2021-2025, …

[Read more...] about US$5.4 billion to be invested in 9 component projects of North – South expressway

Businesses from the Republic of Korea (RoK) poured over 2.43 billion USD into Vietnam in the first eight months of 2021, ranking third in terms of total registered capital after Singapore and Japan. According to the Foreign Investment Agency under the Ministry of Industry and Trade, RoK firms invested in 251 new projects worth nearly 759 million USD and pumped an additional 1.18 trillion USD into 179 existing projects. Meanwhile, their capital contributions and share purchases reached 494.46 million USD. With 9,159 valid projects worth 72.34 billion USD, the RoK now is the biggest foreign investor in Vietnam, the agency said. This proves that RoK businesses have great confidence in Vietnam’s investment environment, Vice Chairman of the Vietnam Association of Foreign-Invested Enterprises Nguyen Van Toan told the Cong Thuong (Industry and Trade) newspaper. Despite the complicated developments of the COVID-19 pandemic, the number of newly-registered and capital-added …

[Read more...] about Korean firms pour US$2.43 billion into Vietnam in eight months

Billionaire Nguyen Dang Quang, Chairman of Masan Group, has made new strides in conquering the Vietnamese telecom market by acquiring 70% shares of Mobicast JSC with a total value of VND295.5 billion (over $14 million). Masan Group has made new strides in conquering the Vietnamese telecom market. Mobicast is a start-up in the field of mobile virtual network (MVNO) and owns the Reddi network brand. MVNOs like Reddit provide mobile services but do not own the telecommunications network infrastructure. Therefore, MVNO cooperates with traditional mobile network operators (MNOs) to use transmission services based on the electromagnetic spectrum along with MNO's mobile network infrastructure to provide telecommunications services for customer4s. MVNO is a very popular telecommunications business model and has a high market share, for example, with nearly 20% in the UK. Danny Le, General Director of Masan Group, says that Reddi is the first piece to digitize "Point …

[Read more...] about Billionaire Nguyen Dang Quang invests VND300 billion in telecom

President Nguyễn Xuân Phúc meets US Secretary of State Antony Blinken. VNA/VNS Photos NEW YORK — President Nguyễn Xuân Phúc met with foreign leaders as part of his working trip to New York on September 23, discussing trade, investment, cooperation and COVID-19 vaccine donations. On the morning of September 23, the Vietnamese State leader had working sessions with representatives from countries that are permanent members of the United Nations Security Council (UNSC). Meeting with the Chinese delegation, Phúc said a stable and healthy relationship between Việt Nam and China was an important factor to the development of each country, and contributed to peace, cooperation and development in the region and the world at large. As neighbours, Việt Nam and China should tighten their cooperation to ensure water resources security, cope with climate change and promote green development, he suggested. Meeting with Russian representatives, Phúc emphasised that Russia was a leading and …

[Read more...] about President Phúc discusses trade, investment and vaccines with world leaders in New York

Indonesia has agreed to allow Sun Cable's Australia-Asia PowerLink or AAPowerLink route through Indonesian waters (Photo: Sun Cable) Jakarta (VNA) - Indonesia n authorities announced on September 23 that the country had approved a giant solar power link between Australia and Singapore after a 2.5 billion USD investment commitment. Specifically, the country has agreed to allow Sun Cable's Australia -Asia PowerLink or AAPowerLink route through Indonesian waters and approved the undersea survey permit. Addressing a virtual press conference in Jakarta, Indonesian Coordinating Minister of Maritime and Investment Luhut Binsar Panjaitan said this project is expected to have a sustainable impact on the country’s economy through various procurement programmes that will benefit the industry and the government's revenue. AAPowerlink will generate solar electricity from one of the world's biggest solar farm projects and transmit it from Darwin to Singapore starting in …

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Vietnam and US firms have inked many deals worth dozens of billions of dollars during the Vietnamese President’s four-day visit. Vietnam’s President Nguyen Xuan Phuc has worked with many big US firms during his four-day visit starting Sept 21 to attend the United Nations General Assembly (UNGA)’s 76th session in New York. Vietnam’s President Nguyen Xuan Phuc (2nd left) and Pfizer’s Senior Vice President Jonathan Selib in New York on Sept 23 (local time). Photos: Thong Nhat/ VNA Talking with Pfizer Inc. executives at its headquarter in New York on Sept 23 (local time) is the latest among dozens of meetings that the president held on the sidelines of the UN debates, in which he had delivered a speech calling for the global unity against Covid-19. Pfizer’s Senior Vice President Jonathan Selib pledged to provide enough 51 million doses it has pledged to supply Vietnam. Specifically, it will provide within this year 31 million doses for adults and 20 million …

[Read more...] about Vietnam’s President meets series of US giants in New York

Despite COVID-19 impacts, foreign direct investment inflows into Vietnam during the first nine months of this year rose 4.4% year on year to $22.15 billion, reported the Foreign Investment Agency under the Ministry of Planning and Investment. As of September 20, 12.5 billion USD was poured into 1,212 newly-licensed projects, up 20.6 percent in value but the number of projects was down 37.8 percent over the same period last year. Meanwhile, 6.6 billion USD was added into 678 underway projects, a year-on-year rise of 25.6 percent in capital but down 15.8 percent in project number. Foreign investors also invested nearly 3.2 billion USD to share purchase deals, down 43.8 percent compared to the same period last year. So far this year, the disbursement of FDI fell 3.5 percent year on year. Leaders of the Foreign Investment Agency attributed the decreases in the numbers of new and expanded projects to the travel restrictions and long quarantine policy, which made it …

[Read more...] about Nine-month FDI inflows up 4.4 percent despite COVID-19