Beach villa resort opens sale in Da Nang

NDO – A recent survey on business confidence conducted by the Vietnam Private Sector Forum (VPSF) showed that the confidence of private business leaders continues to increase, as the private sector is increasingly asserting its important role in Vietnam's economic growth in the near future. However, there remain a number of barriers causing difficulties for businesses in their operations. Each industry has its own problems but the common concerns arise from complex administrative procedures and constraints during access to financial sources. Don Lam, General Director of VinaCapital Group said that Vietnam has made great efforts to improve its business environment, evidenced by Vietnam's rankings which, according to the business environment rankings conducted by the World Bank, have improved. However, up to 50% of enterprises surveyed by the VPSF confirm that regulatory barriers are causing problems for private enterprises. In particular, overlapping, unclear and inefficient regulations have caused the private sector to suffer informal additional costs and have proved to be time-consuming. This problem has led to a significant decline in the sector’s competitiveness. Ho Sy Hung, Head of the Enterprise Development Agency under the Ministry of Planning and Investment, said that while the efficiency of business production and operation remains limited, the private sector is increasingly contributing to the socio-economic development. However, over the past few years, the size of private enterprises has not improved, both in terms of capital and the average number of employees. Limited capital size is one of the major obstacles preventing private enterprises from taking…... [read more]

Addressing the fourth congress of the association held in HCM City on Dec. 23, Acting Chairman Le Thanh Hai said the establishment of the eye bank would help expand the “Bringing eyesight for the poor blind” programme and ensure the performance of 30,000 surgeries per year. He also listed the other programmes it would carry out in the next five years under an overarching plan titled “All for poor patients” that seeks to continue to save lives and relieve the pain of the poor and disabled people in 35 cities and provinces. With the support of VinaCapital Group, East Meets West Foundation, and individual donors, an ongoing programme titled “Save the lives of 1,000 children born with heart disease” will be expanded to include more hospitals to the existing eight. As many as 5,000 wheelchairs will be donated to all disabled people living in HCM City per year. The “Sound and voice for the deaf and dumb children” programme will provide 2,000 hearing aids every year. The “Smile for the young” programme will provide free surgery to children with cleft palates, while the “Free meals for poor patients” programme will build a kitchen in every hospital to provide free meals to poor patients.... [read more]

Under the one-year cooperation agreement, VTCorp will not only provide consultancy but also become the main sponsor and co-organizer of Prospect V 2013 on sharing experience and supporting job skills to be held in London and Newcastle in the coming time. Vo Hien, President of VietPro said that the event aims to bring VietPro and the Vietnamese student community closer together and create favourable conditions for Vietnamese students to access the network of Vietnamese young intellectuals in the UK. Established in January 2010 with the assistance of the Embassy of Vietnam in the UK and North Ireland, VietPro represents Vietnam’s young intellectual community in the UK. Over the past 3 years of operation, VietPro has grown strongly from only 60 young intellectuals working mainly in economics and finance in London and over 500 students to 400 young intellectuals and 5,000 students across the UK. VietPro has brought benefits to the community through cooperation linkages and organization of events with the participation of many Vietnamese businesses such as VinaCapital Group, DongA Bank, Prudential Vietnam Company, Savills Group and Premier Oil Company.... [read more]

In the run up to the New Year, several major projects have been licensed for foreign direct investment, raising the total registered FDI in Vietnam during 2015 to about US$23 billion. On December 29, the authorities of Saigon Hi-tech Park in Ho Chi Minh City granted a license to the Republic of Korea (RoK)’s Samsung Group to raise the investment capital of its Samsung CE Complex (SEHC) project from US$1.4 billion to US$2 billion. The SEHC will facilitate the research, development, and production of hi-tech consumer electronic products and equipment. During the first phase of its strategic business plan, Samsung will focus on producing smart SUHD and LED TVs. The second phase will oversee the production of other consumer electronics products, such as washing machines, fridges, and vacuum cleaners. On December 28, the RoK’s biggest retail group Shinsegae officially launched its debut three-hectare Emart hypermarket in Ho Chi Minh City’s Go Vap district. The outlet has total investment of US$60 million. Emart Vietnam’s director Choi Kwang Ho told VIR that Shinsegae was also planning to build another outlet in the city’s Tan Phu district. On December 25, Vietnam’s largest US$10.5 billion FDI project-the Formosa steel complex and Son Duong deep-water port in the central province of Ha Tinh-churned out its first rolled steel products. These three consecutive FDI events meant that in 2015, Vietnam’s FDI climate was very positive, both in terms of registered and disbursed capital. Statistics from the Ministry of Planning and Investment’s (MPI) Foreign Investment Agency show…... [read more]

The Association of Vietnamese Investors in Cambodia (AVIC) has 47 members including CT Group, EVN International Joint Stock Co, Mai Linh Group, Dak Lak Rubber Co, Vinashin Oil and Gas Joint Stock Company, Sacombank and Vinacapital Group. It said it would provide information to Vietnamese investors about the socio-economic situation, co-operation and investment opportunities in Cambodia. It would also provide legal and organise forums and investment promotion seminars to enable investment in Cambodia. The association, headquartered in Hanoi, said it will also work to strengthen economic ties between Vietnam and Cambodia and support joint ventures by enterprises. The association was established by the Bank for Investment and Development of Vietnam and will be managed by the Ministry of Planning and Investment. Vietnam has invested US$900 million in 63 projects in Cambodia, making that country one of the three leading destinations for Vietnamese investment.... [read more]

VinaProjects is a real estate services company offering project and construction management, urban planning, and asset management services to the Vietnamese market. The joint venture plans to provide an international standard of service for real estate investors and developers in Vietnam, including VinaCapital Group. VinaProjects has begun the implementation of key urban development projects valued at over US$500 million in major cities across the country. Among the biggest are the Hanoi Time Square Complex, worth US$115 million, the World Trade Centre project in Danang, worth US$35 million, and the Dai Phuoc Lotus project, worth US$39 million. InProjects’s Managing Director Matt Fletcher says the Vietnamese market has enormous potential for growth. VinaCapital CEO Don Lam says the group will ensure that all its projects meet world-class standards.... [read more]

Two tourist resort projects were introduced at the exhibition including Danang Beach Resort and Dai Phuoc Lotus Urban Area – HCM City. Covering an area of 260 hectares, the Da Nang Beach Resort includes a five-star hotel, a conference centre, 400 luxury villas and two 18 hole-golf courses. The Dai Phuoc Lotus Urban Area – HCM City is located along a small branch of the Sai Gon River. The first phase of the 200-hectare project includes a residential community with 322 luxury villas. The urban area will be situated near Long Thanh international airport and link to HCM City centre through the Nhon Trach Bridge, the East West corridor and a ring road. VinaLiving is the first real estate trademark of the VinaCapital Group. Through the exhibition, VinaCapital hopes to affirm its commitments to long-term investment in Vietnam, especially projects in the central region.... [read more]

Stock exchange to enjoy growth in 2012: Minister Foreign investors currently own as much as US$6 billion in Vietnam’s stock market (77 percent in 20 largest stocks by market capitalization). According to the Vietnam Securities Depository (VSD), the number of new investors granted with transaction codes in January increased by 0.13 percent. The foreign sector tends to move from small retail transactions to bigger ones and increase their investment in large profit-making businesses with a reputation for transparent management, says VSD. Many foreign investment funds in Vietnam will hold shareholders’ meetings in 2012 and 2013 to decide if they will continue to invest in Vietnam or withdraw their capital from the market. Economists believe that there will be just a few foreign investors who want to withdraw their capital from the market. Most of them wish for a change in their way of investment. Louis Nguyen, CEO of the Saigon Asset Management, underlines the reason why foreign investors will continue to invest in the country as they expect to make a quick profit in 1 or 2 years. Vinacapital Group and Dragon Capital have announced their plans to invest US$100-150 million in the Vietnamese stock market. Marc Djanhji, Research Manager of Bao Viet Securities Company (BVSC), predicts that only a small number of foreign investors will withdraw capital from Vietnam. He says most of foreign investment funds tend to invest in a specific country, and the amount of capital withdrawn will be small (10-20 percent). This will not seriously affect…... [read more]

M&A in banking sector: pros and cons 2011 a busy year for M&A activity Vietnam now ranks eighth among Asia-Pacific nations which are bustling with M&A activity. The total value of M&A deals in 2011 reached US$4.7 billion, tripling the figure recorded in 2010. It is even predicted to rise 30 percent in the coming time. M&A deals involving Vietnamese businesses accounted for 77 percent of the total number, while foreign-related deals made up 60 percent of the total value. Most foreign businesses now tend to purchase domestic enterprises through major transactions. Japan tops the list of foreign companies buying Vietnamese enterprises, providing a continuous flow of investment into Vietnam. Two of the most remarkable M&A deals involve Mizuho - a strategic partner of Vietcombank and Unicham, which has bought a 95-percent stake of Diana. Andy Ho, Managing Director and Head of Investment of VinaCapital Group, put this down to the appreciation of the Japanese Yen against the US dollar which is encouraging Japanese businesses to increase overseas investment. In addition, he said, the cost of capitalisation in Vietnam is cheaper than in Japan and M&A transactions will help shorten the time for dealing with ground clearance and administrative procedures. Also in 2011, the consumer sector paid off well with its M&A deals reaching US$1 billion, or 25 percent of the total value. The banking sector also saw major M&A transactions including the merger of Sai Gon, De Nhat and Tin Nghia banks into a new one, called Saigon Joint…... [read more]

Bloomberg quote Tok Teng Sai, president of the Federation of Malaysian Bird’s Nest Merchants Association, as saying that the demand for bird’s nest, once reserved for emperors and their courts, has created a global market with annual revenue as high as US$5 billion that caters to Asia’s growing wealthy consumers. Vietnam is racing to catch up with Malaysia and Indonesia, the region’s top producers of the delicacy, and cash in on the demand, Tok said. The paper reported that in Vietnam, demand for bird’s nest is spawning a cottage industry that has attracted investment from VinaCapital Group Ltd., the nation’s largest fund manager, and helping mint new millionaires. Provincial governments are also jumping in to set up bird’s nest production zones to spur jobs and exports. In mid-2011, VinaCapital invested US$7.5 million in a bird house in central Vietnam with about 100,000 birds, one of the nation’s largest, said Dang Pham Minh Loan, VinaCapital’s deputy managing director. Vietnam’s bird’s nest industry, estimated to generate US$200 million in revenue a year, is increasing as much as 25% annually, Loan said. According to Bloomberg, authorities in Phan Rang-Thap Cham of central coastal Binh Thuan province are working on a plan to expand the local bird’s nest industry to 2.8 million birds by 2020. The largest bird’s nest house in the province now generates about US$50,000 of bird’s nest monthly.... [read more]

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