Foreign venture capital investor

Demand for investment capital at the Vietnam Oil and Gas Group (PVN) and its member units for 2018-20 was estimated to reach VND620 trillion (US$26.7 billion), PetroVietnam Securities Inc (PSI) recently announced. Workers at PetroVietnam carry out technical checks. Fitch Ratings last month assigned PVN first-time long-term foreign-currency issuer default rating (IDR) at 'BB' with a positive outlook. According to Bui Huy Long, deputy general director of PetroVietnam Securities Inc, of the VND620 trillion, loans accounted for more than 30 per cent through traditional credit and bond issuances. Urgent projects such as Thai Binh 2 Thermal Power Plant, Long Phu 1 Thermal Power Plant, Block B-O Mon Gas Project, Blue Whale Gas Project and Sao Vang – Dai Nguyet Gas Project, would require $4 billion, Long said. Fitch Ratings last month assigned PVN first-time long-term foreign-currency issuer default rating (IDR) at 'BB' with a positive outlook. This was a positive credit rating … [Read more...] about PetroVietnam in need of investment capital

Deputy Prime Minister Vu Duc Dam speaking at the opening ceremony of TechFest TechFest is the biggest annual event for the startup community, organised in accordance with the scheme on supporting the national innovative startup ecosystem to 2025, which was approved by the prime minister in 2016. During the past four years, the annual TechFest events have covered numerous economic sectors, uncovering opportunities and unclogging bottlenecks. Themed “Vietnam: Globalise”, TechFest 2019 aimed to attract resources, manpower, technology, and finance to support Vietnamese startups and to become a platform connecting the Vietnamese startup ecosystem with that of the world. Techfest 2019 has drawn the participation of over 300 businesses and startups, 100 ventures and investors, as well as 200 speakers and experts to attend until November 6, with activities such as a startup exhibition, technology showcase, investor and startup matching, and startup contests. Full of praise for … [Read more...] about TechFest to unlock potential of startups

Hanoi and Japan increased co-operation in investment and tourism On March 23, the Hanoi Investment, Trade, and Tourism Promotion Centre organised the Hanoi Conference Promoting Investment and Tourism Co-Operation between Japan and Hanoi with the participation of 200 representatives from agencies and companies from the two countries. Being an activity on the side-lines of the Japanese Cultural Exchange Festival to be held on the occasion of Vietnam and Japan celebrating 45 years of diplomatic relations, the conference is an opportunity to tighten diplomatic relations, which matches the statements of “The elevation of ties to an extensive strategic partnership for peace and prosperity in Asia” in March 2014 and “Joint Vision Statement on Vietnam-Japan Relations" made in September 2015. The event also provides a platform for the capitol to court capable and experienced investors to take part in Hanoi-based projects, gearing toward the perfection of urban … [Read more...] about Hanoi and Japan stage conference for investment-tourism co-operation

The conference, held in Vung Tau City on November 29, attracted the participation of many trade representatives and foreign trade promotion organizations in Vietnam. The event was organized by the Department of Trade Promotion (Ministry of Industry and Trade) in collaboration with Department of Industry and Trade of Ba Ria-Vung Tau Province. Attending the conference were Do Thang Hai, Deputy Minister of Industry and Trade, Nguyen Thanh Long, Member of the Provincial Standing Committee, Acting Chairman of the Provincial People's Committee, and more than 100 delegates representing the Embassy and Consulate General offices, foreign trade and diplomatic agencies in Vietnam, departments, branches and enterprises of the southern provinces and enterprises in Ba Ria-Vung Tau. The conference aimed to introduce potentials, mechanisms and preferential policies for attracting investment to Ba Ria-Vung Tau and to promoting trade and investment home and abroad. It was also an important event for the … [Read more...] about Ba Ria-Vung Tau conference promotes regional and international trade potentials

Speaking at the opening of the 10th plenum of the 12th Party Central Committee on Thursday, he said, "The private economy is developing well." There should be no discrimination against private companies, and they should be treated equitably, he said. Trong called for appreciating, rewarding and even honoring private companies if they perform well and contribute significantly to the economy. But he also called for maintaining a balance between state-owned and private firms. "It is a fact that state-owned firms have made mistakes and caused losses in the past, but that does not mean we should disregard this sector and totally switch to the private economy." If either make mistakes, authorities in charge need to take action, getting them to fix their mistake, he said. Referring to foreign investment, he said it is good that Vietnam is attractive to foreign investors but proper institutions are needed to manage the foreign-invested sector and the economy should not depend largely on … [Read more...] about Vietnam party chief, president calls for giving private sector its due