Vietnamese company CT Group has spent $24 million to acquire a 95 percent stake in the Korean-invested GS Cu Chi Development GSCD Co, a subsidiary of the Korean GS Engineering & Construction Corp. With the acquisition, CT Group is now the new investor of a 200-hectare golf course in Ho Chi Minh City’s Cu Chi District. The $42.5 million project has obtained an investment license from the government of Vietnam. CT Group said it would hold a ceremony to officially mark the event and launch the golf course in the next quarter. It also pledged to speed up projects currently being implemented by GSCD, and said there are no plans to implement any new projects in Hanoi. CT Group is the largest multidisciplinary group in Vietnam, consisting of 36 member companies operating in real estate, luxury retailing, construction, financial investment, food - entertainment - healthcare - education, plantations, mining and tourism operation. In a related story Hanoi Hanel Co has acquired 100 … [Read more...] about Local firms acquire foreign-owned subsidiaries in Vietnam
Foreigners buying property in japan
A foreigner studies a real estate project in Ho Chi Minh City. Photo: Diep Duc Minh Nguyen Tri Hieu returned to Vietnam six years ago after living in the US for 30, and has been unable to buy a house ever since. He is now optimistic about buying a house after the amendments to the Law on Housing that took effect last July allowing foreigners and Viet kieu (overseas Vietnamese) to buy property in Vietnam. But Hieu, who set up the first Vietnamese-owned bank in the US and is now a senior advisor to Vietnam Thuong Tin Commercial Bank (VietBank), has been unable to fulfill his wish because of various problems that still exist. "The law is considered a great move by Vietnamese authorities. But foreigners and Viet kieu are still facing multiple difficulties in buying a house in Vietnam," he told Thanh Nien News. The hurdles were discussed intensively at a conference jointly organized in Ho Chi Minh City on Monday by Thanh Nien Newspaper and Thanh Nien Newspaper Joint Stock … [Read more...] about It’s still hard for foreigners, Viet kieu to buy houses in Vietnam
"The new law that came into force on July 1 made me confident to bring money from Australia to Vietnam to buy property here for my family. Now I feel safe with the future here," Michael Kart, an Australian living in HCMC, said after visiting Happy Residence projects at the Phu My Hung real estate transaction office. Living environment is the most important Foreigners will expect a green and clean living environment plus beautiful landscape and safety when they look for a home in Vietnam. They also pay attention to educational and healthcare facilities. "We have visited several areas in my search for a home. Phu My Hung has infrastructure facilities like school and hospital that I am used to in my home country, and meets international living standards. This gave me the confidence to buy a house in Phu My Hung," Kart said. The master plan for Phu My Hung urban area, which covers 409 hectares in HCMC’s District 7, was drawn up by U.S. firm Sidmore Owings and Merill while its … [Read more...] about What do expats expect when buying homes in Vietnam?
Increased engagement by Vietnamese firms in mergers and acquisitions (M&A) has seen a new trend emerge - a sharper focus on overseas markets. A person passing by an office of Vietnam Airlines in HCMC. Vietnam Airlines is among local businesses which promote M&A activity in Cambodia. (Photo by Nghia Pham) … [Read more...] about M&A shopping easier in foreign markets, local firms find
Softbank's US$20 billion takeover of mobile carrier Sprint Nextel is the latest big-ticket buy in Japan Inc.'s overseas shopping bonanza, a boom driven by a strong yen and a flaccid market at home. … [Read more...] about Softbank-Sprint deal latest in Japan Inc. shopping spree