South Korean firms were the biggest foreign investors in Vietnam in the first ten months of this year, a position they took over from Japanese businesses in August last year. South Korea accounted for over 30 percent of nearly US$19.3 billion in foreign direct investment (FDI) in January-October, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. Total newly-registered and additional capitals of South Korean investors topped $6.22 billion in the period. The newly-registered capitals of 583 projects reached $2.27 billion while the investors added $3.94 billion to 257 existing projects, the agency said. This means that Korean businesses are increasingly confident in the domestic investment climate so they decided to expand their investment in Vietnam, the FIA said. Korean firms focus on manufacturing and processing, covering over 90 percent of total registered capital. Their investment is mainly in the form of 100 percent … [Read more...] about South Korea continues to be biggest foreign investor in Vietnam
Foreign investors in us
VietNamNet Bridge - While the government of Vietnam has opened the door widely to foreign investors in many business fields, it remains very cautious with the banking sector. Related news Banks rush to ask for higher foreign-ownership rate Under current laws, one foreign investor can hold no more than 20 percent of stake of one Vietnamese bank, while the total foreign ownership in one bank must not be higher than 30 percent. The proportions are believed to be unattractive to foreign investors, because with the low ownership ratios, foreign investors’ rights to make decisions relating to banks’ business remain limited. VietinBank’s CEO Le Duc Tho has confirmed the bank is seeking the State Bank of Vietnam’s permission to raise the foreign ownership ratio to 30-35 percent or even 40 percent. ABBank has sold 30 percent of its stake to foreign investors – MayBank which holds 20 percent shares and IFC which holds 10 percent. The bank plans to ask for … [Read more...] about How much room is available for foreign investors in Vietnamese banks?
South Korea has overtaken Japan as the biggest foreign investor in Vietnam in the first eight months of this year, and it is likely to retain the position for the entire year, a trade newspaper reported Tuesday. Cong Thuong (Industry and Trade) newspaper said, citing data from the Foreign Investment Agency under the Ministry of Planning and Investment. … [Read more...] about S.Korea to replace Japan as Vietnam’s biggest foreign investor in 2014: newspaper
Conditions set for foreign investors in equitized banks By Thuy Trieu - The Saigon Times Daily HCMC – A strategic foreign investor of an equitized State-owned bank must be a credit or financial institution with total assets of at least US$20 billion, according to a new circular issued by the central bank. Other conditions include having at least five years experience in international operations, rated by international rating agencies that have the ability for financial commitments and normal operations even in poor economic conditions. Those institutions cannot be a strategic investor, large investor, or founder at any other credit institution in Vietnam at the time of registering to become a strategic investor of an equitized bank. For a strategic local investor, conditions include good corporate governance, total assets of at least VND3 trillion, a return on equity (ROE) ratio of over 15%, a return on assets (ROA) ratio of over 1%, profit making in three previous years, and … [Read more...] about Conditions set for foreign investors in equitized banks
After the success of three investment promotion trips to Taiwan, Japan and Korea, On September 21st a delegation led by Mr. Tran Dinh Thanh, secretary of provincial Party committee, had leaved for the United States to seek for strategic investors to help Dong Nai province to enhance the industrial development. Before the delegation started its mission, Dong Nai Newspaper had an exchange with Ms. Dang Thi Kim Nguyen who is responsible for the foreign affairs of Dong Nai province. Vice Chairwoman of the provincial Peoples Committee Dang Thi Kim Nguyen and investors of OPV project. … [Read more...] about Dong Nai is a promising destination for foreign investors, especially US investors