The Japan Bank for International Cooperation (JBIC) is interested in investment plans for energy projects of the Vietnam Electricity (EVN) and Vietnam Oil and Gas Group (PVN). Illustrative photo (Source: Nikkei Asian Review) Kazuhisa Yumikura, Managing Executive Officer and Global Head of Infrastructure and Environment Finance Group at JBIC unveiled the information at a recent working session between the Japanese policy-based financial institution and Vietnam’s Committee for Management of State Capital at Enterprises. JBIC considers the Vietnamese Government and state-run companies its important partners, Yumikura said. According to him, in the context of Vietnam working to limit government debt, EVN and PVN have improved their performance via self mobilisation of capital without the Government’s guarantee. As a result, JBIC’s lending to both companies without such guarantee is suitable to the country’s orientation, he concluded. However, he said the … [Read more...] about Japanese bank eyes VN Electricty Group’s energy projects
Project based companies
Trade Vietnam Market to open in Malaysia By Hung Le Monday, Nov 11, 2019,15:24 (GMT+7) Vietnam Market to open in MalaysiaBy Hung Le Luong Hue Hien (2nd L), director of Beyond World Company, shakes hands with a Safuan Group representative after signing an agreement to open Vietnam Market in Malaysia – PHOTO: HUNG LE HCMC - The first Vietnam Market with 200 booths introducing Vietnamese goods and services at a large trade center will be opened in the Malaysian capital of Kuala Lumpur in March 2020 to boost Vietnamese exports to Malaysia, Singapore, Thailand and other ASEAN markets and expand the operations of Vietnamese businesses. A ceremony to introduce the Vietnam Market project was held on November 9 in HCMC by the Vietnam Exporters Association, under the HCMC Investment and Trade Promotion Center; Malaysia’s Safuan Group; and Beyond World Company. Under the collaboration with Beyond World, Safuan Group … [Read more...] about Vietnam Market to open in Malaysia
Since it normalized relations with the powers like China in 1991 and the USA in 1995, Vietnam has begun to integrate into the global economy. Throughout this process of integration, Vietnam has signed numerous free trade agreements (FTAs) with countries and groups of countries. Vietnam's earliest FTA was the agreement signed with the Association of Southeast Asian Nations (ASEAN) in 1996, just one year after Vietnam joined ASEAN. Then, in 2007, Vietnam officially became a member of the World Trade Organization (WTO). After that, Vietnam signed many more FTAs, especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) at the end of 2018 and most recently the EU-Vietnam Free Trade Agreement (EVFTA) in June 2019. So far, Vietnam has signed 13 trade agreements, of which 12 have entered into force. Vietnam is also negotiating three other agreements. Economic powers such as the US, China, Japan and South Korea have inked trade agreements with Vietnam. These … [Read more...] about Who will lead Vietnam’s economy?
An aerial view of Hon Kho island (Photo: VNA) Hanoi (VNS/VNA) - Provided with beautiful landscapes, long beaches and rich cultural and marine resources, Binh Dinh province is expected to transform into a key destination for both domestic and foreign visitors. But like some other areas, the province's biggest hurdle in becoming more attractive to tourists is its lack of developed infrastructure. “Binh Dinh’s tourism sector has been developing less than expected because the infrastructure and facilities are still limited and underdeveloped,” said Nguyen Tien Dat, deputy director of tourism company Transviet. The underdevelopment of infrastructure connecting different tourism sites has made it hard for visitors to come to the province, according to Ho Quoc Dung, chairman of the provincial People’s Committee. Provincial authorities and businesses had been focusing on building accommodations for tourists but construction had still not been able to keep pace with … [Read more...] about Tourism sector must focus on infrastructure, regulatory changes
T2 BOT toll booths in the Mekong Delta city of Can Tho. The MoT has a plan to increase fees collected at BOT projects’ booths. (Photo: VNA) Hanoi (VNS/VNA) - The Ministry of Transport (MoT) is set to propose to the Government a draft plan on fee increases at BOT (Build-Operate-Transfer) toll booths in response to declining revenue. According to the previous roadmap, fees will be raised every three years by between 12 and 18 percent. At the same time, according to regulations stated in BOT contracts, by the end of 2019, 37 projects will see tolls increase. Ten projects will see increases in 2020, and two in 2021. Fees at these 49 projects are planned to rise again from 2022. The ministry has received requests from some investors, asking for fee increases, however the Government has not allowed the change. The lack of timely solutions may lead to companies failing to sustain their initial financial plans, turning their loans into bad debts and negatively impacting the … [Read more...] about MoT plans to increase fees at BOT toll booths