Singapore

SINGAPORE/HANOI -- Singapore's sovereign wealth fund GIC is among investors vying to buy up to 20 percent stake in grocer Bach Hoa Xanh from Vietnam's retail giant Mobile World Investment, in a deal that could value the grocery chain at up to $1.7 billion, two sources said. GIC declined to comment. Other bidders include companies from Thailand, the sources added, declining to be named as the matter is private. The identity of the potential buyers has not been reported previously. "The deal is nearing to the finalising stage and expected to close soon," one of the sources with knowledge of the matter said, adding that a deal could be sealed as early as the first quarter of next year if negotiations are successful. In a statement to Reuters , Mobile World said it would announce the information once the deal was concluded. "We are still in a private placement and have signed an agreement not to disclose information with interested bidders," it said. The potential deal would … [Read more...] about Singapore’s GIC among bidders vying for stake in Vietnam’s third largest grocery chain

Bach Hoa Xanh is Vietnam's third-largest grocery chain GIC is among the bidders looking to acquire a stake in Bach Hoa Xanh in a transaction that could increase the grocery chain's valuation to $1.5-1.7 billion. Other bidders include companies from Thailand. The deal is slated to be wrapped up in the first quarter of 2024 if the negotiations are successful, as reported by Reuters . "The deal is nearing the finalising stage and is expected to close soon," a source with knowledge of the matter said. Mobile World said, "Information will be announced once the deal is concluded. The company is still in a private placement and has signed an agreement not to disclose information with interested bidders." Established in 2015, Bach Hoa Xanh, backed by Vietnam's retail giant Mobile World Investment, runs more than 1,700 stores in Vietnam's southern and south-central provinces. Mobile World has now decided to proceed with the planned sale after putting it on hold earlier this … [Read more...] about Singapore’s GIC eyes potential M&A deal in Vietnam’s retail sector

Located in the heart of Hanoi and HCMC’s bustling business districts, the two world-class, energy-efficient buildings are wholly owned and developed by Techcombank. The unveiling of its new headquarters comes as Techcombank celebrates its 30th anniversary and confirms its position among the leading banks in Asia. The two buildings were designed by the world-renowned architectural firm Foster + Partners and are the first buildings designed by the firm to be opened in Vietnam. Each building has a unique design that reflects the historic and cultural heritage of the city. Inside, open designs aim to bring people together to facilitate collaboration and innovation. Jens Lottner, CEO of Techcombank, said that the new headquarters were now in two world-class financial buildings in prime locations in Hanoi and HCMC. The designs by Foster + Partners have created open and collaborative working environments that will encourage innovation … [Read more...] about Techcombank unveils new headquarters in Hanoi, HCMC

Illustrative image (Source: VNA) Geneva (VNA) – Vietnam has leaped two places in the Global Innovation Index (GII) in 2023, ranking 46th out of 132 countries and territories, according to a GII report released by the World Intellectual Property Organisation (WIPO) on September 27. According to the report, Vietnam has continued to show progress in converting innovation input into output performance. The country has jumped from 59th position in 2022 to 57th position in 2023 in terms of input level, while its output level was up one place to 40th position. The GII input pillars include institutions, human capital and research, infrastructure, market sophistication, and business sophistication. Meanwhile, the output performance are knowledge and technology outputs and creative output. Vietnamese scientists making NanoDragon satellite (Photo: VNSC) Particularly, Vietnam has maintained its second position among lower middle-income countries in the overall GII after … [Read more...] about Vietnam leaps two places in global innovation index in 2023

Vietnam attracted close to US$20.21 billion in foreign investment in the year to September 20, up 7.7 percent year on year, according to the Foreign Investment Agency under the Ministry of Planning and Investment. In particular, foreign investors registered to inject over $10.23 billion into nearly 2,300 new projects in the nine-month period, surging 66.3 and 43.6 percent, respectively. The period also saw 934 operational foreign direct investment projects revise up their capital by a total of over $5.15 billion, up 21.5 percent in the number of projects but down 37.3 percent in the additional capital. Foreign investors also conducted around 2,500 transactions to contribute funds to and acquire shares in local firms with total capital of $4.82 billion, edging down five percent in the number of transactions but soaring 47 percent in value. They poured capital into 18 out of 21 national economic industries in Vietnam, with the processing and manufacturing sector taking the lead … [Read more...] about Vietnam’s 9-month foreign investment attraction up 7.7 percent

The Ho Chi Minh City Center for Disease Control (HCDC) said on Thursday it is monitoring people entering the city from regions hit by the Nipah virus, whose spread has killed two people in India's southern state of Kerala within one week. The southern Indian state recently reported six Nipah infections in one week, with two dead and a nine-year-old patient in serious conditions. More than 700 people, including healthcare workers, were tested for the deadly virus. The Kerala administration shut some schools, offices, and public transport in an attempt to curb the spread of the Nipah virus. Given the spread of the deadly virus, the HCDC ramped up efforts to monitor those entering the southern Vietnamese metropolis from virus-hit areas via Tan Son Nhat International Airport and seaports citywide to early detect and timely handle those with probable Nipah infection. Those who develop fever and headache symptoms along with respiratory problems such as coughing, a sore throat, and … [Read more...] about Ho Chi Minh City Center for Disease Control stays vigilant against Nipah outbreak in India

Vietnamese tourists visit Tokyo Japan. Vietnamese are among those who crave holidaying abroad the most across Southeast Asia. — VNS Photo Thu Ngân Vietnamese are among those who crave holidaying abroad the most across Southeast Asia, according to GrabAds’s latest SEA Travel Insights 2023 report. In the report, 80 per cent of 1,500 Vietnamese survey respondents planned to have an overseas holiday, just slightly behind Thailand and Singapore at 86 per cent and 85 per cent, respectively, and ahead of the Philippines at 69 per cent, Malaysia at 64 per cent and Indonesia at 56 per cent. The survey shows that intent to travel remains strong across the region. Of those surveyed, 72 per cent of Grab users plan to travel abroad at least once in the next 12 months, jumping from just 39 per cent when borders reopened in 2022, indicating intent to travel has climbed by 84 per cent in just one year. While Thailand, Singapore and Malaysia lead the way in terms of destinations within … [Read more...] about Vietnamese itching to take leisure trips overseas