Deputy PM Vuong Dinh Hue and Paul Greenwood, Vice President of Africa and Asia Pacific Business Development at Exxon Mobil Gas and Power Marketing The Vietnamese official made the statement during his meeting in Hanoi on December 20 with Paul Greenwood, Vice President of Africa and Asia Pacific Business Development at Exxon Mobil Gas and Power Marketing.He also thanked Exxon Mobil’s support for Vietnam to successfully host the APEC 2017 Economic Leaders’ Meetings.Vietnam is pushing forward with efforts to improve its business climate and competitiveness in order to attract new foreign investors with technical and financial capacity to the country, Hue voiced his hope that Exxon Mobil will continue to expand its investment in Vietnam.In reply, Greenwood affirmed that the corporation will continue to cooperate with Vietnamese partners in the coming time. Theo … [Read more...] about Vietnam creates optimal conditions for foreign investors: Deputy PM
Foreign investors keen to acquire stake at oil refineryThe Saigon Times Daily HCMC – The equitization of Binh Son Refining and Petrochemical Company (BSR), the operator of Dung Quat Oil Refinery in central Vietnam, has drawn strong attention of big foreign investors given the company’s strong financial readings and its market position. Under the equitization plan approved last week by the Government, BSR will launch its initial public offering (IPO) on the Hochiminh Stock Exchange on the third week of next month. Via this IPO, BSR will sell 7.79% of its chartered capital, equivalent to 242 million shares at a price starting from VND14,600 per share, generating an estimated VND4 trillion. A 49% stake will be sold to strategic investors in the next phase with nearly US$1 billion to be collected. Of the VND31 trillion chartered capital of BSR, Vietnam National Oil and Gas Group (PVN) owns 43% (1.3 billion shares), and 0.21% (6.4 million shares) will be sold to staff and 49% … [Read more...] about Foreign investors keen to acquire stake at oil refinery
VietNamNet Bridge - Analysts have warned that strong brands may disappear once foreign investors buy into Vietnamese companies. MOIT has announced the sale of 343.66 million Sabeco shares The Ministry of Industry and Trade (MOIT) has announced the sale of 343.66 million Sabeco (Sai Gon Beer, Alcohol and Beverage Corporation) shares at the starting price of VND320,000 per share. The market value of the State’s 53.59 percent stake is estimated at VND87.4 trillion ($3.85 billion). With the share price described as ‘sky high’, the divestment deal worth VND11 trillion is reserved only for investors with powerful financial capability. With the share price described as ‘sky high’, the divestment deal worth VND11 trillion is reserved only for investors with powerful financial capability. Those making financial investments to seek profit won’t be interested in the deal because of the price. The investors interested in Sabeco shares aim … [Read more...] about What will foreign investors do with strong Vietnamese brands?
At the event, JETRO chief representative Hironobu Kitagawa said that Vietnamese enterprises have golden opportunities to invest in the land of the rising sun as the two countries are increasing their cooperation. Japan has a favourable location, sound business climate and its largest ever Vietnamese population, all factors which will aid Vietnamese enterprises, he said. He also mentioned Japan’s strengths for all foreign investors, including its growing economy, large consumption market, innovation and safety. Previously, luring foreign direct investment (FDI) was not a focus in Japan’s policy. However, due to its development requirements, the nation is now changing its mind by forming special economic zones and preferential policies. JETRO offers a programme to support Vietnamese businesses who wish to invest in Japan. After registration with JETRO, the companies will receive free consulting services from the Invest Japan Business Support Centres (IBSC). … [Read more...] about Japan rolls out red carpet for foreign investors
Foreign investors likely to continue buying this week Kim Ngan By Kim Ngan - The Saigon Times Daily HCMC – Securities companies have projected that foreign investors would continue buying stocks this week, primarily petroleum, banking and real estate tickers, after six consecutive sessions of purchases. Tran Anh Tuan, head of the analysis department at Vietcombank Securities Company, said in Dau tu Chung khoan newspaper that exchange traded funds (ETFs) have great impact on the local market and domestic investor sentiment. VNM ETF certificates have been trading at a premium of 3.94%. Therefore, foreign buying is expected to continue and fuel the market’s rally this week. Last week, the market made a strong recovery, buoyed by foreign buying on large-caps. Trade was sluggish on both bourses during the first sessions but investor sentiment improved later, pushing up the stock indexes. On the Hochiminh Stock Exchange, the VN-Index closed up 2.58% against the week earlier … [Read more...] about Foreign investors likely to continue buying this week