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Speaking at the webinar, Deputy Minister of Industry and Trade Do Thang Hai said that Vietnam can be viewed as a “centre of FTAs”, with several major and important agreements signed recently, such as the CPTPP (representing 13 percent of global GDP), the EU-Vietnam Free Trade Agreement (16 percent of global GDP), and the Regional Comprehensive Economic Partnership (RCEP) (32 percent of global GDP). … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 22

A rise in both the number and the value of mergers and acquisitions (M&As) in Vietnam last year and early this year have signaled that M&As are booming in the country. According to auditing firm Pricewater House Coopers (PwC)’s statistics, there were 295 M&As worth a combined 1,138 million USD in the country last year, up 77 percent over the previous year. In the first quarter of this year, the market was more ebullient with larger acquisitions: the Vietnam Industrial and Commercial Bank (Vietinbank) sold 10 percent and 15 percent of its statutory capital to the International Finance Corporation (IFC) and Canada ’s Nova Scotia Bank respectively, and VNPT Global sold 10 percent of its shares to the Singapore Technologies Telemedia (ST Telemedia). Notably, the Hung Vuong Fishery Joint Stock Company (HVG) offered to buy 3.75 million shares of the An Giang Fishery Import-Export Joint Stock Company (AGF) in a bid to raise its share in AGF to 51 … [Read more...] about M&A boom building up steam in Vietnam

Stable structure for state budget ( source: freepik.com) Rough estimates from the Ministry of Finance (MoF) showed that last year, total state budget revenues hit over VND1.507 quadrillion ($65.52 billion), up by nearly VND184 trillion ($8 billion) as compared to the sum earlier reported to the National Assembly (NA), which determines the nation’s state budget plan annually, and remained lower than the sum of over VND1.54 quadrillion ($66.95 billion) in 2019. … [Read more...] about Stable structure for state budget

Huawei has suffered from 5G rollout bans in the US and a number of EU nations, with some leaders questioning the groups’ security. But it continued to grow in 2020, although slowdown in growth was reported. Revenue in the first nine months reached ¥671.3 billion ($103.57 billion), up 9.9 per cent from 2019, versus 24.4 per cent over the same period a year earlier. Net profit margin for the nine months was 8.0 per cent, versus 8.7 per cent over the same period a year earlier. … [Read more...] about Tech giants building on ICT potential