On the occasion of VIR's 21st anniversary on September 27, high-profile corporate leaders offer their candid views on how VIR can continue as an indispensable companion of the foreign and local business communities. Preben Hjortlund Chairman of European Chamber of Commerce in Vietnam (EuroCham) Source vir.com.vn … [Read more...] about VIR remains a business companion
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BUSINESS IN BRIEF 19/6
Nawaplastic still hungry for Binh Minh Plastic shares Owning a dominant stake in Binh Minh Plastic (BMP) did not quench Nawaplastic Industry Co., Ltd. (Nawaplastic)’s thirst for BMP shares. Most recently, Nawaplastic registered to buy an additional 1.17 million BMP shares to increase its holding to 44.525 million shares, equalling 54.39 per cent of the charter capital. The transaction is expected to occur between June18 and July16. The registered share volume is the remaining part of the 2.86 million shares that Nawaplastic failed to buy during previous transactions. Notably, Nawaplastic registered to buy 2.86 million BMP shares during transactions on May 14-June 12, however, the Thai investor ended up buying 1.69 million of the registered shares as BMP did not match Nawaplastic’s target price. BMP manufactures and trades civil and industrial products made of plastic and rubber. The company also designs, manufactures, and trades in plastic moulds for the casting industry; … [Read more...] about BUSINESS IN BRIEF 19/6
BUSINESS IN BRIEF 24/4
Leaders of Ho Chi Minh City recently held a meeting with foreign-invested (FDI) businesses, calling on them to work side by side with the southern metropolis of Vietnam toward the goal of fast and sustainable development. The event on April 21 drew representatives of foreign businesses’ associations and nearly 200 FDI companies in HCM City. Secretary of the municipal Party Committee Nguyen Thien Nhan said over the past years, HCM City has made efforts to improve investment climate, step up administrative reforms, streamline procedures, increase transparency and boost IT application in the settlement of administrative procedures to enhance the attractiveness to foreign investment. As a result, the city attracted 6.6 billion USD in FDI in 2017, surging over 90 percent from the previous year. In the first quarter of 2018 alone, the figure stood at 1.37 billion USD, compared to 5.8 billion USD of the entire country. However, he said, HCM City is also facing an array of challenges … [Read more...] about BUSINESS IN BRIEF 24/4
BUSINESS IN BRIEF 2/4
Foreign businesses seek opportunities in Vietnam A number of foreign business organisations and associations took part in a trade and investment promotion conference held in Ho Chi Minh City on March. 29 to seek partners and opportunities in Vietnam. The businesses come from such countries and territories as Thailand , Canada , Germany , Indonesia , Malaysia , Singapore and Hong Kong ( China ). The annual event this year focused on the city’s economic restructuring in 2012, the development of industrial clusters, mechanism and policies to attract investors in the high-tech industry, monetary policy and solutions to support businesses. Vietnam ’s consumption market in 2012 is forecast to develop faster than that of regional countries such as Thailand , the Philippines and Malaysia and thus remaining attractive to foreign investors, the seminar was heard. Experts said the country’s retail market is forecast to keep its high growth rate of about 23 percent during … [Read more...] about BUSINESS IN BRIEF 2/4
BUSINESS IN BRIEF 25/3
Hanoi eyes 159 industrial clusters by 2030 The capital city will have 159 industrial clusters, covering a total area of more than 3,200ha by 2030, baodautu.vn reports. This is pursuant to its industrial cluster development master plan for 2020 with a vision to 2030. In the period up to 2020, there will be 138 industrial clusters with an area of more than 2,620ha in the city. Of these, 52 are newly-established zones, spanning 590ha. The plan has been approved by the municipal People’s Committee. In the 2021 to 2030 period, five existing industrial clusters will be expanded, having a total area of 45.4ha, and 21 new ones, covering 536ha, will be established. According to the plant, industrial complexes which are located in the five northern districts of the city —Soc Son, Me Linh, Dong Anh, Long Bien and Gia Lam — will prioritise to attract investments in several sectors, including electronics and information technology, engineering, automotives … [Read more...] about BUSINESS IN BRIEF 25/3