Nguyen Thanh Phong (left), chairman of the HCM City People’s Committee, speaks with Ousmane Dione, Country Director for the World Bank in Vietnam, during a break at a workshop on Public-Private Partnerships held on March 27 in the city. — VNS Photos Bo Xuan Hiep “PPPs must be a win-win exercise for all stakeholders,” said Dione. “The legal, regulatory and institutional frameworks also need to be clear and robust to enable investors to accept risks over the longer term with some certainty of the framework within which these risks are being taken.” HCM City is an emerging economic powerhouse in the Southeast Asia region and among the country’s most attractive destinations for foreign direct investments, according to Dione. “To maintain its economic competitiveness and to meet the challenges stemming from an ageing demographic, the city needs further investment in infrastructure, especially in areas like transport, … [Read more...] about HCMC seeks PPP in healthcare
Lack of disclosed information, listing plans and risks of non-performing loans are dragging OTC-traded bank stocks down. Orient Commercial Joint Stock Bank (OCB) is among the banks still traded on the Over-The-Counter (OTC) market, which is a decentralised and less transparent trading platform. — Photo vietnambiz.vn Seven banks are trading shares on the Over-The-Counter (OTC) market, which is decentralised and less transparent as it is subject to fewer regulations and dealers can set the prices for buying and selling a security, currency and other financial products. That already makes shares of those banks riskier and less attractive to investors because they are not bound by any regulations regarding information disclosure. The seven banks include the Orient Commercial Joint Stock Bank (OCB), Maritime Commercial Joint Stock Bank (MSB), Dong A Bank, Bao Viet Commercial Joint Stock Bank (BaoVietBank) and Viet A Bank. Among those, only MSB and Viet A Bank have published … [Read more...] about Vietnam’s OTC-traded bank shares too cheap for purchases
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?
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
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