Businesses

Experts said that a series of favorable conditions are encouraging local banks’ plans to sell shares to foreign investors for capital hike in a move to meet the Vietnamese central bank’s Basel II regulation. Considerable interest from foreign investors and favorable conditions are supporting many Vietnamese banks to promote their share sales and come closer to the completion of capital hike plans.  Military Bank expects to complete a sale of a 7.5% stake by the end of this month. According to industry insiders, after the deal between South Korea’s KEB Hana Bank and Hanoi-based Commercial Bank for Investment and Development of Vietnam (BIDV) recently, the market will see many other deals in the banking sector to be completed soon. Among them, the sale of a 7.5% stake, or 141.5 million new shares and 47 million treasury shares of Vietnam’s Military Commercial Joint Stock Bank (MBBank), is expected to be completed by the end of this month. Many … [Read more...] about Vietnamese banks come closer to big deals

This was the second consecutive rising month of automobile imports, raising the total number of imported cars since the beginning of this year to the end of October to above 123,000 cars, worth $2.71 billion, 2.3 times higher in both volume and value, or 131.6 percent in volume and 126.5 percent in value, over the same period last year. Thailand, Indonesia, China and Japan continued to be the main markets from which Vietnam imported completely-built-unit cars in the first ten months of this year. Of which, imports of automobiles from Indonesia, China and Japan strongly surged. As the wave of imported cars has flowed into the country with competitive prices, business results in October of automobile manufacturers in Vietnam have weakened, prompting car makers to lower their prices sharply in order to compete with imported cars and win back market share. By Van Dieu – Translated by Thuy Doan Tags: completely-built-unit cars imported cars automobile manufacturers automobile … [Read more...] about Automobile imports continue to climb

The UK's night-time economy is now said to be the UK's fifth-biggest industry with annual revenues of £66bn. It is 04:00 in central London's clubbing district, Soho. People are slowly streaming out of the clubs, some huddled in doorways waiting for taxis, others dancing on the kerb, merry and very loud. The night-time economy is a growing part of the UK economy. Nationally, it is the UK's fifth-biggest industry, accounting for at least 8% of the UK's employment and annual revenues of £66bn, according to the Night Time Industries Association. In fact, the growth of that business activity at night-time prompted London's mayor to call upon the talents of TV presenter and performer Amy Lamé. She has been London's first "night czar" since 2016, and is in charge of the city between 18:00 and 06:00. "My role encompasses looking after the welfare and wellbeing of the 1.6 million people that are usually working in London. My biggest concern is the 190,000 that work for the … [Read more...] about The growing importance of the night-time economy

Longan has become the fourth kind of Vietnamese fruit to be exported to Australia (Photo: VNA) Sydney (VNA) – Longan has become the fourth kind of Vietnamese fruit to be exported to Australia after litchi, mango and dragon fruit. However, experts say there is still a lot of work needed for Vietnam to secure a firm foothold in the market. Truong Ai Quoc, founder of Aus Asia Produce, a fruit distributor in Victoria State, said that at the Vietnamese longan festival in Australia, 500kg of longan was sold in only one hour. Hoang Luat, the owner of an Asian food supermarket in West Australia, said that his chain sells about 1-1.5 tonnes of fresh Vietnamese fruit each week. According to Australian Minister of Agriculture and Water Resources David Littleproud, the Vietnamese agricultural sector has the potential to earn billions of USD from exports. The strategic partnership agreement between Vietnam and Australia has opened up new investment and trade partnership opportunities for … [Read more...] about Long journey of Vietnamese fruits to Australia

Illustrative image (Source: VNA) Hanoi (VNA) – Total outbound Vietnamese investment reached 431.7 million USD in the first nine months of this year, according to the Foreign Investment Agency under the Ministry of Planning and Investment. The largest share of Vietnamese investment was poured into wholesale and retail sector, and auto and motorbike repairs with 110.6 million USD, accounting for 25.6 percent of the total. Coming second was science-technology with 83.4 million USD), followed by agriculture-forestry-fishery (64.1 million USD) and real estate (56.9 million USD). Among the 30 countries and territories where Vietnamese investors landed during the period, Australia was the largest recipient with 140.6 million USD, making up 32.6 percent of the sum. Other major destinations for Vietnamese investment included the US (59.9 million USD), Spain (59.8 million USD), Cambodia (50.6 million USD) and Singapore (35.6 million USD). Vietnamese investors have also made … [Read more...] about Vietnamese firms step up outbound investment