Illustrative image (Source: VNA) Hanoi (VNA) – A total of 1,285 deals were made by foreign investors to contribute capital to and buy shares of Vietnamese businesses with total capital of 1.89 billion USD in the first quarter of this year, up 121.6 percent against the same period last year. The increase was attributed to the country’s more open investment environment as investors who want to contribute capital or buy shares do not have to register for investment licences like those conducting foreign direct investment (FDI) projects. Therefore, “many investors choose this type of investment, since they do not waste time to carry out investment procedures and quickly gain access to the Vietnamese market,” said Nguyen Mai, head of the Vietnam … [Read more...] about Foreigners keen on investing in Vietnam
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VietNamNet Bridge – Among organizations and individuals of Vietnam named in the Panama Papers are wellknown businesswoman Nguyen Thi Phuong Thao, Chair of Sovico Holdings (the parent firm of private airline VietJet), Vice chair of the HCM City Development Bank and Chairman of SSI Securities Company Nguyen Duy Hung. How did they explain this inclusion on the list? Thao is related to Ariana Hotels & Resort International, based in the Virgin Islands. Ariana Hotels & Resort International is also the former owner of Furama Resort – the property that was acquired by Thao's Sovico Holdings in 2005. Replying to local newspapers, Thao said: "We returned home to invest in Vietnam, acquired Furama Resort and these were normal operations. In 2005, we were an international company, which invest in Vietnam." "Sovico won the international bid to acquire capital contribution from all companies of the Lai Sun Group (Hong Kong) to become a foreign investor replacing the … [Read more...] about What do Vietnamese entrepreneurs named in the Panama Papers say?
ANZ today opened a Signature Priority Banking branch in Hanoi, providing greater convenience to its affluent retail banking customers in Vietnam. The new branch complements ANZ's first Signature Priority Banking branch in Ho Chi Minh City, which was opened in September 2010. Joe Farrugia, head of Retail Banking & Wealth Management ANZ Vietnam, said: "Vietnam is a fast growing economy. ANZ is committed to supporting its customers to grow their wealth and enjoy convenient banking, and our new ANZ Signature Priority Banking branch in Hanoi is the latest milestone in delivering uncomplicated, personalised banking service." "At the core of Signature Priority Banking is the ANZ relationship manager who is dedicated to providing solutions to meet each customer's personal financial goals including saving, investment, protection, and borrowing. Each relationship manager is supported by a team of specialists who can provide advice on insurance and wealth management products and … [Read more...] about ANZ opens Signature Priority Banking branch in Hanoi
Going by the assertion of the Asia Commercial Bank, Vietnam hasn't ever had a gold trading floor. ACB has said that its Saigon Gold Trading Exchange wasn't a gold marketplace. Investors at the exchange bought gold sold by ACB and vice versa, ACB deputy chairman Nguyen Duc Kien said at a press briefing last week, adding there has never been any transaction between investors themselves. An investor on the phone with a sign for Saigon Gold Trading Exchange in the background. … [Read more...] about ACB denies its gold exchange traded in futures
Three international bank cards -- VISA, CUP (China Union Pay) and Japan Credit Bureau (JCB) will be introduced in Myanmar by 2013 to facilitate tourists visiting in the country, local media reported Sunday. Private banks operating under the Myanmar Payment Union (MPU) system will render services with the three kinds of international banking cards, the 7-day News said. One can draw cash from automatic teller machine (ATM) of any MPU member bank under the system, it said. Reciprocally, Myanmar cards are expected to be introduced internationally by 2014. "We are planning to use MPU system across country and in ASEAN member countries for the 2013 Southeast Asian (SEA)Games as a follow-up program," according to an official of Myanmar Central Bank. … [Read more...] about International bank cards to be introduced in Myanmar by 2013