Lending club foreign investors

Assembly line of Vespa motorbikes at Piaggio Vietnam Co Ltd in Binh Xuyen industrial zone in Vinh Phuc Province. (Photo: VNA) Hanoi (VNS/VNA) - Foreign investors have been encouraged to take advantage of the double benefits Vietnam is offering through its commitments in the many trade pacts signed with other countries. Foreign investment in Vietnam is expected to increase significantly after the country signed two important trade deals – the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union-Vietnam Free Trade Agreement (EVFTA). According to experts, foreign investors in Vietnam will enjoy the benefits of both the international market and preferential domestic policies. The agreements also offer a great opportunity for businesses that are not from the EU or CPTPP’s 10 other member countries. When investing in Vietnam, they can take advantage of tax incentives Vietnam has agreed upon with those countries. … [Read more...] about Foreign investors can make use of Vietnam’s trade deals

Vu Duc Nhan, deputy CEO of transport firm Phuong Thanh Tranconsin Jsc, told VnExpress that the Ministry of Transport requires an investor to have an owner’s equity of 20 percent of the cost of a North-South Expressway project. This means that if a project costs VND5 trillion ($215 million), an investor needs to have VND1 trillion ($43 million) in owner’s equity.  The investor also needs to have experience in a similar project in scale, he added. "Very few Vietnamese companies have that money. Only some have recently invested in major national highways." A tightened credit policy on build-operate-transfer (BOT) projects is adding to the burden, Nhan said. Banks are charging an annual interest rate of 11 percent, higher than the 7.8 percent the Ministry of Transport estimated earlier when calling for investors. Many BOT projects are struggling to collect enough tolls due to lower traffic than estimated, making investors reluctant to take on expressway projects, he … [Read more...] about North-South Expressway: domestic investors fear foreign competition

Boasting a coastline of 65 kilometres, Tra Vinh province has huge potential to develop the marine economy.(Photo: baodautu.vn) Tra Vinh (VNA) – Completing mechanisms and management policies is among the Mekong Delta province of Tra Vinh’s efforts to lure more foreign investors and improve the quality of foreign direct investment in the locality. The province is striving to attract some 1.1 billion USD in foreign direct investment during 2021-2025 and 1.7 billion USD for the 2026-2030 period. Along with renewing investment promotion methods and enhancing the efficiency of state management over foreign investment, the province has outlined special investment attraction plans to draw strategic investors. Besides, the province has paid due attention to improving administrative procedures as well as creating favourable conditions for foreign firms to study the local business climate. Furthermore, land clearance and infrastructure development have been also put in focus. … [Read more...] about Tra Vinh province seeks more foreign investment

Competition is heating up in Vietnam's consumer lending market as existing foreign financial organizations rush to expand as new entrants join the market. The joint venture, which marks Hyundai Card’s first overseas endeavor, is touted as a new growth engine in the Southeast Asian market in a company statement. Consumer lending in Vietnam has increased strongly in recent times on the back of rising affluence amid strong economic growth. “As the market continues its growth momentum, new players, including foreign financial institutions, have been looking for entry into the country,” said Mr. Masataka Yoshida, Senior Managing Director, Head of the Cross-Border Division, and CEO Vietnam at the Recof Corporation, a Japan-based merger and acquisition (M&A) consulting firm. One after the other Before Hyundai Card, a host of other South Korean financial players penetrated into Vietnam’s fast-growing consumer finance market. Lotte Card acquired Techcom Finance in … [Read more...] about Consumer lending a contested landscape

Investment Hanoi leader pledges favorable conditions for Japanese investors The Saigon Times Daily Wednesday,  Dec 11, 2019,18:31 (GMT+7) Hanoi leader pledges favorable conditions for Japanese investorsThe Saigon Times Daily Hanoi Chairman Nguyen Duc Chung (R) meets with Masayuki Hyodo, representative director, president and chief executive officer of Sumitomo Corporation – PHOTO: HANOI PORTAL HCMC – Chairman of Hanoi City Nguyen Duc Chung has reaffirmed the city government’s commitment to make life easy for foreign investors to do business in the capital, including those from Japan. The chairman was speaking at his meeting on Tuesday with Masayuki Hyodo, representative director, president and chief executive officer of Sumitomo Corporation, reported the Vietnam News Agency. The city leader praised Sumitomo and the CEO for carrying out major projects and helping other firms to invest in the city. … [Read more...] about Hanoi leader pledges favorable conditions for Japanese investors