The Hanoitimes - M&A deals in Vietnam’s finance and banking sector will rise significantly this year, given by an improved business performance of local banks and a government regulation to require banks to meet stricter capital regulations as part of Basel II Accord standards by 2020. Vietnam banks advised to raise risk resilience in digital age Vietnamese banks required to go public by 2020 Capital raising considered key focus for Vietnamese banks in 2019: Moody’s Japan’s MUFG Bank to further invest in Vietnam’s VietinBank Experts anticipated the Vietnamese finance and banking sector will experience a sharp increase in merger and acquisition (M&A) deals in 2019 as positive signals for the surge have been seen right in the first months of the year. Japan’s Mitsubishi UFJ Financial Group wants to invest in VietinBank Early this year, on January 9, Bank for Foreign Trade of Vietnam (Vietcombank) started off with an … [Read more...] about M&A in Vietnam’s banking sector forecast to see big changes in 2019
Vietnam bank for agriculture and rural development
FDI attraction needs to centre on agriculture and rural restructuring
FDI in the agricultural sector (encompassing agriculture, forestry, and fisheries), and rural development is an important capital channel, helping the sector to expand its export markets and engage deeper into the global agricultural produce value chain, boosting the productivity, quality, efficiency, and competitiveness of local agricultural producers. Achievements in attracting FDI into the agricultural sector, however, are still limited, failing to fully bring into play the sector’s enormous potential. In the forthcoming time, it is important to consistently implement wide-ranging measures to attract foreign investment, transforming the economic structure of agricultural and rural areas towards modernisation, developing large-scale and concentrated commodity-based agricultural production to meet international integration requirements, particularly regarding the sub-sectors with high comparative advantages. 1. Achievements in attracting FDI in agriculture and rural development … [Read more...] about FDI attraction needs to centre on agriculture and rural restructuring
Vietnam banks in race to join Asia top 100
The Hanoitimes - Assuming Vietnam`s top three state-run banks can maintain their respective growth rate of 5 - 10% in the next eight years, their total assets would be over VND1,500 trillion (US$63.95 billion), equivalent to those currently in Asia`s top 100 banks. Under the development strategy of Vietnam's banking sector recently approved by the prime minister, the country is expected to have at least 2 - 3 commercial banks in Asia's top 100 largest banks in terms of assets by the end of 2025. Illustrative photo. Last year, 15 Vietnamese banks were named in the Asian Bankers' AB500 ranking and survey of Asia Pacific's strongest banks by balance sheet. Among Vietnamese lenders, Bank for Investment and Development of Vietnam (BIDV) took the highest spot at 157th, followed by Joint Stock Commercial Bank for Foreign Trade of Vietnam (VietinBank) at the 163rd and Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietcombank) at the 188th. Those three … [Read more...] about Vietnam banks in race to join Asia top 100
Trung Luong-My Thuan Expressway to get funds for construction in May
Trung Luong-My Thuan Expressway to get funds for construction in MayLe Anh The Trung Luong-My Thuan Expressway will be developed to connect to a 40-kilometer expressway connecting HCMC and Trung Luong of Tien Giang Province, which is seen in this file photo - PHOTO: LE ANH HCMC – The investor of the Trung Luong-My Thuan Expressway project is in talks with five banks to take out funds next month for developing the long-delayed project, heard a meeting between the investor and authorities last weekend. Vu Tuan Anh, deputy director of the Public-Private Partnership Department under the Ministry of Transport, told the meeting that the lack of capital is the biggest problem arising in the execution of the project. The problem is to be smoothened out soon as the investor is in talks with banks for the needed capital, Anh told the meeting between the project investor, the Ministry of Transport and Tien Giang Province’s government. The project requires a total investment … [Read more...] about Trung Luong-My Thuan Expressway to get funds for construction in May
HCMC to pay interest on agriculture production loans
(VEN) - The Ho Chi Minh City (HCMC) People's Committee recently issued guidance on implementation of a plan under which the city would fund the interest on loans taken out by organizations and individuals with feasible agricultural business projects. High agricultural growth In 2017, HCMC reached an agricultural, forestry and fishery production value of almost VND19.48 trillion, up 6.3 percent from the 2016 growth of 5.8 percent. Production value reached almost VND1.93 trillion in the first two months of 2018, up 6.5 percent from the same time in 2017. Of this, cultivation reached VND472 billion (up 5.7 percent), animal husbandry produced VND865 billion (up 4.3 percent), and fisheries reached VND468 billion (up 10.2 percent). High technology has been applied in vegetable and fruit production on 389.8 hectares of land in the city, nearly quadruple that in 2016 (101ha). Interest-based assistance According to the HCMC Department of Agriculture and Rural Development, the city is home to … [Read more...] about HCMC to pay interest on agriculture production loans