What have been some successful stories involving your members thus far in Vietnam? Tharabodee Serng-Adichaiwit, vice chairman of the Thai Chamber of Commerce in Vietnam Thailand has become the ninth-biggest foreign direct investment of Vietnam with nearly 690 projects and $13 billion so far. While Thai investment properly kicked off in the early 1990s here, Bangkok Bank started investment in Vietnam way back in 1961 with its first branch in the former Saigon. We believe that with the growing potential of Vietnam itself and our continuous promotion to Thai investors, one day Thai investment could enter the top five. This will also to help the two countries to achieve the bilateral trade goal of $25 billion by 2025, and ultimately bring our two countries closer in sub-regional, regional, and multinational cooperation. Most big Thai conglomerates already have a presence in Vietnam, such as C.P., SCG, Bangkok Bank, IVL, Red Bull, and more. Thai investment is also … [Read more...] about A land of promise for Thai investors
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Task obvious for Vietnam’s green building development
There are currently around 300 green buildings certified by standards such as Lotus, Edge, LEED, or Green Mark, Photo: shutterstock According to Douglas Lee Snyder, executive director of the Vietnam Green Building Council, from a legal perspective, realising both financial and non-financial incentives in Vietnam is a challenge. “Maybe we need to make inter-ministerial cooperation efforts to achieve the goals set by the government of Vietnam. For example, while public green buildings often lead the market in other countries, in Vietnam, cost norms per square metre regulated by the Ministry of Finance alone are not enough for one construction, but it needs collaboration from other related ministries,” Snyder told VIR. Meanwhile, Angus Liew, chairman of Gamuda Land Vietnam, said that the barriers involve technology, equipment, and even perceptions. “In addition, Vietnam’s government has become well aware of the repercussions and understands the importance of transforming its … [Read more...] about Task obvious for Vietnam’s green building development
SOE issues can be solved with support
How does the Commission for Management of State Capital at Enterprises (CMSC) extend support and critical advisements to the VIMC? Le Quang Trung, deputy general director of VIMC and vice chairman of the Vietnam Logistics Business Association The symbiotic association and support extended by CMSC to businesses, especially the VIMC, is immense and substantial. Every project we undertake, be it short-term or enduring, bears the unmistakable imprint of CMSC’s support, enabling us to overcome various challenges, notably during exceptional periods such as the recent pandemic. CMSC’s partnership has been crucial, aiding us in overcoming challenges related to capital mobilisation and ensuring the smooth implementation of projects. A notable instance is their contribution to the financial and operational restructuring project of SP-PSA, one of our crucial joint venture ports. With the indispensable support from CMSC, we were able to conduct successful negotiations with … [Read more...] about SOE issues can be solved with support