The Hanoitimes - Foreign direct and indirect investment inflow to Vietnam has still maintained growth though many other Asian markets have suffered a significant capital withdrawal in the wake of the US Treasury’s interest rate hikes. Vietnam’s high GDP growth in 2018 is very supportive information for investors According to statistics from the State Securities Commission (SSC), from the beginning of this year to the end of October 9, net foreign flows into Vietnam inched up to US$2.89 billion, nearly equal to the total figure of US$2.92 billion in the entire last year. SSC’s chairman Tran Van Dung said that the number is a good sign compared to the current situation of capital withdrawal from other Asian markets. From the beginning of the year, foreign investors have withdrawn from seven Asian markets including South Korea, Thailand, Indonesia, the Philippines, India, Taiwan and Malaysia with a total value of US$27.34 billion. As of October 9, the value of … [Read more...] about Vietnam continues to see net foreign inflows despite global volatility
Global asset management firm
Vingroup raises $400m from Hanwha Asset share deal
A Vincom Centre located on Nguyễn Chí Thanh Street, Hà Nội. Vingroup has raised $400 million from issuing 84 million shares to South Korean firm Hanwha Asset Management. — Photo vietnamfinance.vnViet Nam News HÀ NỘI — Real estate and retail conglomerate Vingroup has raised VNĐ9.32 trillion (US$400 million) from issuing 84 million convertible dividend preference shares to Hanwha Assset Management, an affiliate of the South Korean conglomerate Hanwha Group. The 84 million shares were issued at a price of VNĐ110,976 ($4.93) per share, Vingroup said in a press release on Wednesday. The shares would be restricted from trading for one year from the date of issuance, Vingroup said. “This investment from Hanwha is a demonstration of its trust in Vingroup as well as an endorsement of the growth potential of the Vietnamese market,” the Vietnamese firm said. The share issuance is expected to raise Vingroup’s charter … [Read more...] about Vingroup raises $400m from Hanwha Asset share deal
RoK firms seek partnership chances with Hoa Phat Group
Illustrative Image (Source: VNA) Hanoi (VNA) – A delegation of investors from the Republic of Korea (RoK) has visited Hoa Phat Group, one of the three largest steel producers in Vietnam, to seek partnership opportunities. The delegation, including Kunam Kim, Global Securities Director of the KB Securities and Le Thi Quyen, Deputy General Director of KB Security Vietnam, visited two steel plants of Hoa Phat in the northern province of Hung Yen. The RoK firms showed interest in the steel production process and technology of Hoa Phat as well as the group’s growth prospects as its Dung Quat project completes. Pham Thi Oanh, Director for Finance of Hoa Phat, said that the group is strong for its river port system at Hai Duong steel integrated complex. The firm is developing a similar system in Dung Quat complex, which is expect to handle ships with capacity of up to 150,000 tonnes, she said. The ports has helped Hoa Phat reduce cost and get convenience in import-export … [Read more...] about RoK firms seek partnership chances with Hoa Phat Group
Firms are teaming up to excel in insurance world
Firms are teaming up to excel in insurance world The firm’s CEO Khamsaya Soukhavong spoke to VIR about the company’s vision to grow sustainably in the Vietnamese market. Could you tell us about the development strategy of Mirae Asset Prévoir? Khamsaya Soukhavong Vietnam’s economy achieved a high growth rate and generally stable macro-economic environment in 2017. The insurance market has itself maintained a high growth rate of around 20 per cent with great potential to develop, as Vietnamese people have increasingly better incomes and a growing awareness of the necessity of insurance. Given these circumstances, Mirae Asset Prévoir (formerly known as Prévoir Vietnam) aims to increase its investment in key resources like professionals, technology, distribution, products, and services, to capture the growth opportunities of the market and anticipate its needs as well as those of the target customers. Shopping behaviours of consumers have been … [Read more...] about Firms are teaming up to excel in insurance world
Vietnam launches first institute to train directors of public firms
A new social enterprise named Vietnam Institute of Directors promises to improve the standards of corporate governance in the country. Members of the Vietnam Institute of Directors at today's launching event in Ho Chi Minh City Launched on April 5 in Ho Chi Minh City, Vietnam Institute of Directors (VIOD) is the first independent and private organisation to promote the best practices of corporate governance at Vietnamese public firms. Supporters of VIOD include the International Finance Corporation, the Ho Chi Minh City and Hanoi Stock Exchanges, the State Securities Commission, and Switzerland’s State Secretariat for Economic Affairs. The Institute aims to encourage business ethics and transparency, create a pool of independent board members, and enhance the professionalism of Vietnamese boards. It will deliver workshops, seminars, conferences, and board events on important governance topics, mainly through its flagship Governance Excellence Programmes. Sitting on … [Read more...] about Vietnam launches first institute to train directors of public firms