A corner of Nga Bay floating market (Source: VNA) Hau Giang (VNA) – A company has proposed to the authorities of the Mekong Delta province of Hau Giang a plan to develop tourism at the local famous Nga Bay floating market, Nga Bay town, at a cost of more than 700 billion VND (nearly 30 million USD). At a working session with the provincial officials on September 4, representatives of Phuoc Loc Trade-Construction Ltd Co said the plan will be conducted in four phases. The first two phases would be carried out in 2018 and 2019, with the company investing 100 billion VND into building a fleet of tourist boats, necessary service facilities and an effective management apparatus for the market. The company will also cooperate with local farmers, garden owners and artisans to create orchards, gardens and craft sites supplying products for the floating market and serving visitors as well. In the next two phases from 2019 to 2023, the company will build a trade and service complex … [Read more...] about Company to invest 700 billion VND in Nga Bay floating market
Companies
Foreign securities companies gear up to expand operation in Vietnam
The Hanoitimes - Many foreign securities companies in Vietnam have recently announced plans to increase their charter capital, confident that the domestic stock market still has a lot of room for expansion in the future. Vietnam’s stock market lures investors thanks to high economic growth The most impressive plan has come from Mirae Asset Vietnam (MASVN). After completing the capital hike from VND700 billion (US$29.78 million) to VND2 trillion (US$85.1 million) last year, MASVN has recently continued approving a plan to raise charter capital to VND4.3 trillion (US$182.98 million). Once fulfilling the plan, MASVN would be the second largest securities in Vietnam just behind the Saigon Securities Incorporation (SSI), whose charter capital is currently more than VND5 trillion (US$212.76 million). Another case is Yuanta Vietnam, which has recently released a decision on the distribution of nearly 34.5 million shares that Yuanta Securities (Hong Kong) Co Ltd and Nguyen Thi … [Read more...] about Foreign securities companies gear up to expand operation in Vietnam
Company directors arrested for allegedly illegal scrap import
Viet Nam News HÀ NỘI — Police on Wednesday launched legal proceeding against directors and personnel at three companies in Ninh Bình Province and HCM City for alleged involvement in the illegal importation of scrap. The four suspects are Nguyễn Văn Sơn, director and Dương Văn Phương, employee of Trường Thịnh Packaging Private Company based in the northern province of Ninh Bình, Nguyễn Đức Trường, director of Đức Đạt Ltd Company, and Dương Tuấn Anh, chairman of Hồng Việt Production, Trade and Services Ltd Company based in HCM City. The Ministry of Public Security announced on Wednesday that police have arrested the four suspects and searched their places of residence. They face the charge of illegal cross-border transportation of goods and funds. The investigative unit under the ministry and Việt Nam Customs’ … [Read more...] about Company directors arrested for allegedly illegal scrap import
87,448 companies established, 63,235 enterprises dissolved in eight months
In August alone, the number of newly- established companies was 11.655, rising up 3.5 percent in enterprises and decreased by11.9 percent in registered capital against July Moreover, an average registered capital of an enterprise was VND9.2 billion ($395,987), reducing 14.9 percent. The new enterprises offered 111,000 jobs, a decrease of 3.3 percent. The country saw 2,912 re-opening, 2 percent lower than July yet 6,216 temporarily suspended its activities. In the eight months of this year, the country has 87,448 newly established registered enterprises with a total registered capital of VND878.6 trillion, increasing 2.4 percent in the number of enterprises and 6.9 percent in registered capital over the same period in 2017. The average registered capital of newly established enterprises was VND10 billion, up 4.3 percent. If VND1,679 trillion of businesses which registered to increase the capital was included, the total registered capital poured into the economy in the first 8 months of … [Read more...] about 87,448 companies established, 63,235 enterprises dissolved in eight months
Vietnam gets new debt trading company
According to the National Business Registration Portal, VNAMC has been set up with an initial charter capital of VND100 billion ($4.4 million) for the purpose of debt trading and debt trading brokerage and consulting, with Tran Ngoc Bich and Tran Uyen Phuong owning a 50 percent stake each. The two also serve as vice presidents of their father’s Tan Hiep Phat Beverage Group, Vietnam's largest domestic private soft drinks company. Bich is in charge of the group’s production management while Phuong is responsible for its marketing, public relations, and CSR programs. Observers said the establishment of VNAMC might be related to the entry of Tan Hiep Phat in realty industry. With the debt trading firm, Tan Hiep Phat can buy properties mortgaged by borrowing companies to enlarge its land fund, they said. Thanh recently bought more than 550,000 shares, equivalent to a 1.2 percent stake, in Saigon Real Estate Joint Stock Company. Founded in 1994, Tan Hiep Phat is … [Read more...] about Vietnam gets new debt trading company