Speaking highly of Samsung Vietnam’s success in terms of revenues, export turnover and job creation, the PM stated that the Vietnamese government is interested in Samsung-invested projects and will create favourable conditions for the group to conduct successful business in Vietnam. Shim Won Hwan, former General Director of the Samsung Vietnam Complex, expressed his admiration at Vietnam’s economic growth rate, adding that Samsung is delighted to partially contribute to that growth. He voiced his gratitude for the support given to him from the Vietnamese government and PM during his working tenure in Vietnam. Samsung always considers Vietnam as an important strategic production hub in its global strategy, and pledges to expand its long-term investment in the Southeast Asian country, the guest affirmed. The production outcome of Samsung Vietnam Complex has posed the most impressive growth among Samsung’s overseas production centres, which is vivid evidence of the … [Read more...] about Samsung urged to expand production activities in Vietnam
Business activities in vietnam
CJ and Lotte seek business expansion in Vietnam
The Hanoitimes - A growing number of South Korean enterprises want to commit long-term business in Vietnam. Senior officials of leading South Korean corporations, including CJ Group and Lotte, have expressed wish for business expansion in Vietnam, during their respective meeting with Vietnam’s National Assembly Chairwoman Nguyen Thi Kim Ngan. Vietnam's National Assembly Chairwoman Nguyen Thi Kim Ngan in a meeting with CJ Logistics CEO Park Keun Tae. Source: Dai Bieu Nhan Dan. CJ Logistics, a subsidiary of CJ Group, is considering investing in food safety, show business and logistics in Vietnam, stated Park Keun Tae, CEO of CJ Logistics in the meeting on December 12. As of present, CJ has invested over US$500 million with 26 subsidiaries in Vietnam, including food – catering, pharmacy – biology, transportation – home shopping, entertainment – communication, Park informed. In 2017, the groups’ combined revenue in … [Read more...] about CJ and Lotte seek business expansion in Vietnam
European firms remain optimistic about business situation in Vietnam
The Business Climate Index for Q3 stood at 81 points, the second highest level since late 2016 (Photo: VNA) HCM City (VNA) – European companies have shown their optimism about their business activities in Vietnam in both the third and fourth quarters, as seen in the Business Climate Index (BCI) released by the European Chamber of Commerce in Vietnam (EuroCham) on November 6. The BCI for Q3 stood at 81 points, the second highest level since late 2016. EuroCham said despite a slight BIC decline from Q2, when the index hit an 18-month high, European firms’ sentiment in Q3 remained positive, reflecting their confidence in Vietnam’s trade and investment environment. EuroCham member businesses reported good performance between July and September, with 57 percent describing it as “good” and 10 percent as “excellent”. Only 8 percent gave negative responses. Regarding their outlook for Q4, the respondents remain optimistic with nearly 60 percent … [Read more...] about European firms remain optimistic about business situation in Vietnam
PM calls for Danish businesses’ engagement in Vietnam’s policy-making
PM Nguyen Xuan Phuc (centre) at the roundtable with Vietnamese and Danish businesses. (Photo: VNA) Copenhagen, (VNA) – Prime Minister Nguyen Xuan Phuc has called on Danish businesses to be more active in contributing ideas to policy-making in Vietnam, while promoting their role in fostering the partnership between Vietnam and Denmark. He made the call at a high-level roundtable with Vietnamese and Danish enterprises in the fields of green growth, seaport, logistics and high technology, which was held in Copenhagen on October 20 as part of the PM's ongoing visit to Denmark. The Vietnamese Government leader briefed the Danish firms on the potential and advantages of Vietnam such as young labour force, rapid IT and telecommunications development, and high GDP growth, as well as the country's intensive international integration as seen in its engagement in 16 new-generation free trade agreements. He noted that currently Vietnam is hosting more than 130 Danish enterprises, … [Read more...] about PM calls for Danish businesses’ engagement in Vietnam’s policy-making
Legal due diligence vital for business acquisitions in Vietnam
Vietnam’s merger and acquisition (M&A) market has seen significant growth over the past decade with a total of 4,353 deals valued at $48.8 billion done. Last year there was the biggest M&A deal ever when Thaibev Group bought 53.59 percent of the country’s largest brewery Sabeco through its subsidiary. This interest is expected to spread to other booming sectors like energy and infrastructure, education, pharmaceuticals, and telecoms in the near future aided by the constant efforts by the government to ease the restrictions on foreign investment in several sectors. In practice, M&A transactions involve guidance from consultants with various kinds of expertise until the deal is closed. The performance of legal due diligence (DD) in conjunction with financial and business DD is the first step in a deal as a pre-contractual investigation before proceeding with any further negotiations between the relevant parties. In M&A transactions, legal DD serves to collate … [Read more...] about Legal due diligence vital for business acquisitions in Vietnam