Foreign investors find property market attractive Ngoc Tran By Ngoc Tran - The Saigon Times Daily A new residential area in HCMC. Foreign investors have shown rising interest in Vietnam’s property market - PHOTO: UYEN VIEN HCMC – Foreign investors have shown rising interest in Vietnam’s property market due to a lack of alternative markets and the nation’s attractive rental yields, said a CapitaLand senior executive. With the lacklustre performance of real estate markets in the region, Vietnam has the high possibility of taking over other regional property markets. The real estate market of regional countries such as Malaysia, Singapore and China are not doing well, said Chen Lian Pang, Chief Executive Officer of CapitaLand Vietnam, told the media in HCMC recently. He described the Myanmar housing boom as a “bubble” with “no fundamentals to support that kind of pricing.” Such favourable conditions are supplemented by the … [Read more...] about Foreign investors find property market attractive
Foreign investors
Foreign investors raise voices against special consumption tax on soft drink
Value added tax increase and special consumption tax levy on soft drink might do more harm than good, small and medium firms in this field would suffer most and may stop operation, said Mr. Herbert Cochran, director of Vietnam Trade Facilitation Alliance (VTFA) in Hanoi this morning. A view of the workshop on challenges of policy and regulatory changes for foreign investors in Vietnam in Hanoi on December 7 (Photo: SGGP)Speaking at a workshop on challenges of policy and regulatory changes for foreign investors in Vietnam, he said that low income consumers would be affected and the Government’s tax revenue might not increase but reduce. That is practical experience from Indonesia and Denmark.In addition, imposing special consumption tax on soft drink would create a discrimination in the food and beverage industry.He proposed the Government to seriously consider all implicit social and economic impacts of the tax policy change, reconsider proposals to raise taxes or levy new taxes … [Read more...] about Foreign investors raise voices against special consumption tax on soft drink
Policy changes pose obstacles for foreign investors
The statement was made by Adam Sitkoff, executive director of the American Chamber of Commerce (AmCham) during a workshop on “Challenges of policy and regulatory changes for foreign investors in Vietnam”, co-organised by AmCham, the Vietnam Chamber of Commerce and Industry (VCCI) and the Ministry of Planning and Investment’s Foreign Investment Agency in Hanoi on December 7th. Nguyen Mai, Chairman of the Vietnam Foreign Investment Enterprises (VAFIE) said the economic statistics in Vietnam clearly show the importance of foreign investment in the economy, adding that so far Vietnam has attracted foreign investors from more than 100 countries and territories with investment capital pouring into the country totaling USD165 billion. FDI enterprises contributed some 19 percent of domestic revenue, 19 percent of GDP and more than 70 percent of export turnover in 2017, Mai said. However, Mai shared Sitkoff’s view that there was a lack of consistency and transparency in … [Read more...] about Policy changes pose obstacles for foreign investors
Vietnam seeking to top among foreign investors in Laos
Vietnam is boosting its investment in Laos to regain its top position among foreign investors in the country. Between 2009 and 2010, Vietnam was the biggest foreign investor in Laos, but this year, it has lost ground to both China and Thailand. Vietnamese firms are trying to increase their investments in Laos with a series of projects in the sectors of energy, mineral, industrial crops, banking and finance. At the Vietnam-Laos Investment Cooperation Conference, which took place in Vientiane on September 9 and 10, Laos licensed six Vietnamese projects totaling USD410 million. The two sides also signed memorandum of understanding that would be worth USD750 million. To date, Vietnamese firms have 203 active projects in Laos, totalling USD3.3 billion. In the first eight months of this year, the total registered capital of Vietnamese firms in Laos reached USD469 million USD. Long-term investments Nguyen Xuan Son, General Director of PetroVietnam Oil Corporation (PV Oil), said "The … [Read more...] about Vietnam seeking to top among foreign investors in Laos
Foreign investors being wooed to invest in Vietnam banks
Vietnam wants foreign investors to buy stakes in local financial institutions to support measures this year to restructure the local banking system, with mergers on the cards and more flexible ownership limits to encourage participation, a senior banking official said. The deputy governor of the State Bank of Vietnam (SBV), Nguyen Phuoc Thanh, said the SBV has facilitated mergers between financial institution in line with the current regulations, a move expected to create a healthier money and banking market, and speed up restructuring. SBV deputy governor Nguyen Phuoc Thanh Thanh said the SBV will continue to deal with cross ownership to form larger and more competitive financial institutions, while not ruling out the forced merger of weak institutions. "Due to the lack of funding, the government of Vietnam has issued policies to call on private contributions to the restructuring of the banking system," Thanh said. "Both domestic and foreign investors are encouraged to take part … [Read more...] about Foreign investors being wooed to invest in Vietnam banks