Endorsements real estate

Noticeably, real estate and construction enterprises were the group with highest tax arrears. Duc Khai Joint Stock Company in District 7 led the group with tax arrears of more than VND400 billion, followed by Ho Chi Minh City Plants Limited Company in Binh Chanh District with nearly VND218 billion of tax arrears, Hoang Hai Housing Investment and Trading Joint Stock Company in Hoc Mon District with VND142 billion, Binh Duong Building Stone Company Limited’s branch in Ho Chi Minh City (District 1) with VND124 billion, Phu My Investment and Development Joint Stock Company with more than VND130 billion, Thai Son Investment and Development Joint Stock Company in District 1 with nearly VND108 billion, Transport Engineering Construction & Business Investment Joint Stock Company 584 with VND72 billion and Trang Thien Phat Limited Company with VND53 billion. The department said that will resort to debt enforcement measures in order to collect tax arrears from these enterprises, … [Read more...] about Several real estate, construction firms owe large amount of tax arrears

After many years of investing heavily and enduring losses to acquire its dominant share of the retail market, Vingroup, Vietnam’s biggest private conglomerate, is withdrawing from the business. The merger deal that it has signed with food giant Masan Group will integrate its network of 2,600 Vinmart and Vinmart+ minimarts into a merged entity operated by the latter. Vingroup will remain a shareholder in the merged entity, it said Tuesday. Although retail is a major asset in Vingroup’s commercial ecosystem, which includes real estate, education and shopping, it has not engaged heavily in backwards integration, i.e. the production of consumer goods. Masan, on the other hand, with its core business in fast moving consumer goods (FMCG), can potentially make much better use of the retail network that Vingroup has built. And with Vingroup retaining an undisclosed stake in the new entity, its network could still be used to support the conglomerate’s core business in … [Read more...] about What Vingroup and Masan hope to acquire from their retail merger

Business Beat (16-11-2009) India tipped to import Viet Nam rice by Le Hung Vong Viet Nam will be able to meet India’s reported intention to import 2 to 3 million tonnes of rice, the deputy chairman of the Viet Nam Food Association Nguyen Tho Tri has said. The statement was made after the Indian Press Trust reported on November 4 that the Government of India has a plan to import 2 million tonnes of rice from Viet Nam and Thailand because of India’s decreasing rice output due to the impact of drought and floods. Speaking in an interview with the Thoi Bao Kinh Te Sai Gon, Tri affirmed that Indian diplomats had informed him that the South Asian giant was looking to buy 3, not 2 million tonnes of rice, as previously reported. Tri said Vietnamese enterprises will be able to meet the demand, adding that the delivery date will coincide with Viet Nam’s winter-spring crop harvest in January and February 2010, when the supply will be plentiful. He explained that Viet Nam can … [Read more...] about India tipped to import Viet Nam rice

  An apartment building for workers at Đồng An Industrial Zone, Thủ Dầu Một City in Bình Dương Province. — VNA/VNS Photo Nguyễn Văn Việt HÀ NỘI — Only 28 per cent of industrial zone workers are provided with stable accommodation, while the rest have to rent houses with poor sanitation and infrastructure. According to a nationwide report, by 2020, some 1.7 million industrial parks workers will have a need for housing. However, the country has been only able to build 100 social housing projects with 41,000 apartments for 330,000 workers. The Government had tasked the Việt Nam General Confederation of Labour with implementing Decision No.655/QĐ-TTg by the Prime Minister on building trade union institutions in industrial and export processing zones with a focus on improving living conditions for workers and employees. In recent … [Read more...] about Affordable homes still a dream for many Vietnamese workers

"These are sectors that will attract the most interest from foreign investors," Dr Oliver Massmann, general director of Hanoi-based law firm Duane Morris, told VnExpress International. He said leading enterprises with good financial capacity and high growth in these sectors would attract both foreign and domestic money. "In terms of capital sources, we can expect cash flows from major Asian economies such as Japan, Korea, Singapore, Hong Kong and, especially, mainland China to increase their [already] strong presence in the market." Massmann added that the equitisation of SOEs on a larger scale and with strong determination from the top will play a key role in driving the market. The long-awaited equitization of blue-chip firms like MobiFone and further state divestment in industry leaders like Habeco, the country’s second biggest brewery, and dairy firm Vinamilk are expected in the coming years. Mergers and acquisitions (M&A) have increasingly become an investment … [Read more...] about M&A takes center stage in Vietnam’s foreign investment landscape