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The government last week decided that only domestic companies will be entitled to construct eight sections of the expressway under the public private partnership (PPP) model. But they would need to take part in a qualifying round next month before they can bid for the work. While domestic firms have enough capability to handle the construction of the expressway, they would have to borrow about 60-70 percent of total investment needed for the projects, but it is very difficult to raise such capital, said Vu Minh Hoang, vice chairman of construction firm Deo Ca. The government should, if needed, facilitate commercial banks in lending capital for the North-South Expressway projects, he said. Domestic banks typically prioritize loans for financial and real estate projects, not for those building traffic infrastructure, Hoang added. Vu Duc Nhan, a representative of Phuong Thanh Company, another construction firm, said the losses incurred by several BOT projects of late makes it more … [Read more...] about Domestic investors face capital challenge for North-South Expressway project

Out of the 154 fintech startups, 37 operate in payments, 25 in P2P lending and 22 in blockchain and crypto and remittance, according to a survey by the Banking Technology Development Research Institute (BTI), National University of Ho Chi Minh City, released at a fintech conference in HCMC on Monday. The rapid growth of fintech has transformed the financial and banking sector by offering consumers more convenient products and services. Fintech companies in Vietnam are likely to continue encroaching on the retail market share of traditional banks, with peer-to-peer lending, e-wallets, payment and cashless payments becoming an integral part of everyday life, the report noted. However, areas such as asset management, liquidity management, investment management, insurance, and automated advisory services are still in their infancy, it added. Hoang Cong Gia Khanh, director of BTI, said: "Because 70 percent of Vietnam’s fintech companies are still startups, it will be difficult to … [Read more...] about Vietnam fintech sector in the fast lane

Production of electronic components at TPR Vietnam Co. Ltd at the Việt Nam-Singapore Industrial Park II (VSIP II) in the southern province of Bình Dương. — VNA/VNS Photo Hải Âu HÀ NỘI – There are nine key tasks that must be accomplished in 2019-20 to restructure Viet Nam’s economy, according to the Minister of Planning and Industry Nguyễn Chí Dũng. Minister Dũng told the National Assembly on Monday afternoon that the Government needed to improve the mechanisms of the market-oriented economy to restructure the economy. Private companies and people must be empowered and given more incentives and reductions in taxes and administrative procedures to nurture their business development, he said. Secondly, a competitive market must be built on two main pillars: better allocation of resources for the private sector and better practice of property rights, Dũng said. In addition, the Government has to … [Read more...] about NA talks key tasks for next stage of economic growth

Home prices saw the steepest increase ever in early 2019 before the gains were trimmed by weakened sentiment and falling sales in the second half of the yearOffice rents peaked in Q1 and have since fallen over the course of 2019The retail sector was hardest hit by the social unrest which stifled any hope of a rebound in retail rents for core submarketsThe volume of major property transactions shrank to a 10-year low alongside the decline in commercial real estate rentsThe leasing and investment outlook across all sectors in 2020 is set to remain subdued as US-China trade tensions and local social unrest continue to weigh on sentiment.HONG KONG, CHINA - Media OutReach - 10 December 2019 - The Hong Kong property market has borne witness to the city's turmoil in 2019. Home prices experienced their steepest increase in the first half of 2019 but have seen those gains trimmed in recent months in the face of the growing social unrest. The ongoing trade tensions and … [Read more...] about Hit by Double Woes, Hong Kong Property Market Heads for an Uncertain 2020

Amazon shakes hands with T&T Group and SHB to boost cross-border e-commerce in Vietnam At the cross-border e-commerce workshop titled “Reaching the ocean” early this month, US-backed Amazon Global Selling officially announced its partnership with T&T Group and local bank SHB. However, there have been few recent days when SHB's stock closed higher than it began – on the contrary, it has been falling significantly. As of the end of the session on December 9, SHB was at VND6,100 ($0.26), lower than the VND6,800 ($0.3) in late June. Forecasting dim prospects for SHB, Saigon-Hanoi Insurance Corporation divested all of its capital worth VND55 billion ($2.4 million) in July. As a result, the tie-up with SHB may not be enough to move forward Amazon’s plans in Vietnam. Amazon started carrying out cross-border e-commerce in the market a few months ago by supporting local SMEs in improving their export performance. Specifically, on October 16, Amazon Global … [Read more...] about Partnership with SHB may be little aid for Amazon in Vietnam