Debate over the promising future of mergers and acquisitions in Vietnam following the country’s plethora of free trade agreements overshadowed the Vietnam M&A Forum 2016, organized by VIR and AVM last week in Ho Chi Minh City. Dr Christopher Kummer, president of the Institute of Mergers, Acquisitions and Alliance in Switzerland, said Vietnam has climbed the ranks as an active mergers and acquisitions (M&A) location worldwide since 2014. The Vietnamese M&A market recorded US$5.2 billion worth of deals in 2015 and US$3 billion in the first half of 2016, rising 28% year-on-year. The majority of foreign investors participated in deals worth US$30 million and above, especially in mega-deals of over US$1 billion. “I believe international interest in the Vietnamese M&A market will continue for a considerable time, as Vietnam is poised for stable economic development while many other countries are still experiencing slower growth,” said Dr Kummer. Similarly, … [Read more...] about Firms eager to buy into Vietnam’s M&A market
Vietnam development
Vietnam Bank Association calls for raising charter capital at four major State banks
The Vietnam Bank Association (VBA) has repeated its call for the Government to approve charter capital hikes at four major State-owned commercial banks, noting that the delay could adversely affect money supply for the economy. VietinBank employees are at work. The bank is in desperate need of a charter capital hike The credit supply of the four State banks – the Bank for Investment and Development of Vietnam (BIDV), the Vietnam Bank for Industry and Trade (VietinBank), the Vietnam Bank for Agriculture and Rural Development (Agribank) and the Bank for Foreign Trade of Vietnam (Vietcombank) – may not grow, possibly leading to declines in gross domestic product growth and tax revenue for the State, according to the VBA. Also, the capital adequacy ratio (CAR), an international standard that measures a bank’s risk of insolvency from excessive losses, may be violated, which would adversely affect the banks’ operations, international credit ratings and … [Read more...] about Vietnam Bank Association calls for raising charter capital at four major State banks
Novaland to develop Cần Thơ tourism projects
Officials from Novaland and other companies sign agreements with Cần Thơ Province. — VNS Photo Viet Nam News HCM CITY – Housing developer Novaland Group has signed a memorandum of understanding with Cần Thơ to develop tourism property projects in the Mekong Delta city. The projects include Cần Thơ wharf at the former Hậu Giang wharf and the Cồn Sơn Island tourism area. The 3.5ha wharf in Ninh Kiều District will be used for passenger and cargo transport and tourism. “Close co-operation is needed to make the 13 Mekong provinces and Cần Thơ City an ideal tourism destination,” Bùi Xuân Huy, general director of Novaland Group, said. “Novaland has negotiated with many famous hotel management brands like Marriott, Wyndham, Novotel, Banyan, and Tree to bring them to Cần Thơ. “We have also co-operated with local authorities to find suitable models that meet … [Read more...] about Novaland to develop Cần Thơ tourism projects
Woman power helps boost Vietnam’s economy
Le Ngoc Anh, owner of Deborah JSC, shows customers bathroom equipment provided by the company (Photo courtesy of the company) Hanoi (VNS/VNA) – There are around 145,000 small-and-medium-sized enterprises (SMEs) currently run by women in Vietnam, accounting for a quarter of all SMEs nationally. Such businesses play a crucial role for growth, contributing 30 percent of GDP and more than half of job creation. But it’s not just at the top where women are making a difference. The World Economic Forum says Vietnam is among the top 25 countries in the world closing the gender gap in the labour force. Of all women, 73 percent are in gainful employment, just 10 percent lower than their male counterparts. By 2020, Vietnam wants one million enterprises and of them they are targeting more than a third owned by women. That means in the next two years, the amount of companies with a woman at the helm will have to increase threefold. And that’s a challenge. Last year was a … [Read more...] about Woman power helps boost Vietnam’s economy
BIDV named as Best Retail Bank in Vietnam for five consecutive years
The Bank for Investment and Development of Vietnam (BIDV) was named the Best Retail Bank in Vietnam for five consecutive years.(Photo: vnexpress.net) Hanoi (VNA) – The Bank for Investment and Development of Vietnam (BIDV) was named the Best Retail Bank in Vietnam for five consecutive years by The Asian Banker Magazine. The award was presented to the bank at a ceremony held in Dubai, the United Arab Emirates on March 21, in conjunction with the Excellence in Retail Financial Services International Awards 2019. With this valuable award, BIDV has affirmed its unceasing efforts in providing the customers with high-tech products and services. Last year, the bank paid due attention to promoting modern distributing channels and became a pioneer in applying the achievements of the Fourth Industrial Revolution to meet the diverse demands of the customers. Its prominent products include BIDV SmartBanking featuring virtual assistance, QRPay, online currency trading, BIDV Pay allowing … [Read more...] about BIDV named as Best Retail Bank in Vietnam for five consecutive years
