Foreign banks have been expressing eagerness to jump on the mergers and acquisitions (M&A) bandwagon in the banking sector. The case of JTrust conglomerate from Japan recently joining the restructuring of Construction Bank (CBank) has raised the possibility of cross-border bank M&A accelerating the speed of banks reorganising in Vietnam with the government’s support. JTrust has announced that they have carried out intensive research to understand the restructuring process of CBank, according to Nobiru Adachi, director of JTrust Asia. They also propose some supportive actions from the Vietnamese government and the State Bank of Vietnam (SBV). Construction Bank (CBank) is on the cusp of restructuring According to Deputy Prime Minister Vuong Dinh Hue, the Vietnamese government would like to co-operate with clients who could boost the restructuring process of CBank and alleviate Cbank’s financial hardships. The government guarantees to provide favourable … [Read more...] about Foreign investors to join restructuring of Vietnamese banking system
Foreign investor in vietnam
The revisions aim to legalize the granting of e-visas to foreigners in order to make it easier for them to visit Vietnam. The Law on Exit, Entry, Transit and Residence of Foreigners in Vietnam took effect in 2015. Revisions to the law would fine-tune immigration law while meeting the requirements of administrative reform and ensuring national defense and security and complying with the Party guidelines and State policies on national renewal and international integration. Nguyen Thanh Phuong, a deputy for Can Tho city, said the revisions aim to institutionalize Vietnam’s foreign policy and comply with trade agreements Vietnam has signed. Phuong said “I agree with the revisions concerning visas, residence, and administrative procedures. The revisions reflect Vietnam’s desire to encourage foreigners to do business, visit, work, and study in Vietnam.” Revisions extend the validity of residence cards granted to foreign investors to 10 years to attract more foreign … [Read more...] about Law on Exit, Entry, Transit and Residence of Foreigners in Vietnam revised
Illustrative image (Photo: VNA) Hanoi (VNA) – Vietnamese businesses have invested more than 279.6 million USD in projects abroad during the first seven months of 2018, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA). Of the figure, 238.33 million USD landed in 81 new projects while the remainder was pumped into 21 existing ones. In the reviewed period, finance and banking caught the most interest from the Vietnamese investors, accounting for 37.8 percent of their total investments, or 105.77 million USD. Enterprises from Vietnam have invested in 32 countries and territories from January to July. Among them, Laos lured the biggest share of the investment, with 84 million USD, representing 30 percent of the total. It was followed by Australia with 37.1 million USD, or 13.3 percent. Meanwhile, Vietnam’s foreign direct investment (FDI) soared 4.6 percent year on year to 22.94 billion USD in the first seven months of this year. … [Read more...] about Vietnam’s overseas investment totals 280 mln USD in 7 months
The VN-Index recorded nine hikes in he two weeks since the end of the Lunar New Year holidays (Photo: VietnamPlus) Hanoi (VNA) - This week, Vietnam’s stock markets closed in the green, as the benchmark VN-Index rose 1.34 points to 988.91 points while the HNX-Index inched up 0.7 point to 106.82 points. The VN-Index on the Ho Chi Minh City Stock Exchange (HoSE) enjoyed increases in the whole week (from February 18 to 22) and it was also the ninth hike in two weeks. On February 22, there were 144 rising codes and 152 in decline. The VN30, which measures the performance of the 30 stocks with the highest market capitalisation and liquidity on the HoSE, had 17 advancing codes and 12 others end in red, while one code was flat. In the week, foreign investors posted net purchase value of 772.92 trillion VND (33.02 billion USD), equivalent to 23.64 million shares. E1VFVN30 topped the list with 15.4 million shares purchased, followed by HPG with 8 million shares. The … [Read more...] about Will VN-Index hit 1,000-point mark thanks to investors’ positivity?
In a press interview during the on-going visit to Vietnam by the U.S. Secretary of State John Kerry from Jan. 12 to 14, Vietnamese Deputy Foreign Minister Ha Kim Ngoc emphasized that economy, trade and investment remain central, driving the bilateral relations. Regarding the bilateral relationship in the time to come, the Vietnamese diplomat said, “We need to exert more efforts to create a favorable environment for U.S. investors and to boost two-way trade”, as there remain great potential for comprehensive cooperation. Priority should be given to joint efforts to overcome the aftermath of the war. Vietnamese Deputy Foreign Minister Ha Kim Ngoc According to the Deputy Foreign Minister, Vietnam and the U.S. have already built an intensive and firm cooperation foundation, practical cooperation mechanisms on the spheres of bilateral, regional and international relations. He believed that with high determination of the two sides, the Vietnam-U.S. relationship will … [Read more...] about Economic, trade and investment cooperation remains central to Vietnam-U.S. relations