The Hanoitimes – With the booming of the mergers & acquisitions (M&A) market in recent months, expectation for the Vietnam’s M&A value to reach US$20 billion is within sight. As such, one of the most sought-after deal in 2017 is the divestment of state fund at Saigon Beer Alcohol Beverage Corp (Sabeco), Vietnam’s largest brewer. Vietnam Beverage, a domestic unit of Thai Beverage has successfully bought 53.59% Sabeco shares with value of 4.8 billion USD. The deal has taken M&A Vietnam to a new height, exceeding the record set 5 years ago at approx. 5 billion USD. The Sabeco’s deal raised nearly 5 billion USD alone for state fund. This successful deal has eased off concern from investors and some administrative agencies, showing the positive responses from the market toward determination and effort of the government in respecting market principles and meeting expectation for a transparent business environment. On the other hand, the State Capital Investment Corporation (SCIC) received 9 trillion VND (roughly 280 million USD) for selling 3.33% stakes in Vietnam Dairy Products (Vinamilk) on the Ho Chi Minh stock exchange on November 10 for Platium Victory Pte Ltd. The M&A Vietnam in 2017 with major deals has solved challenges restricting the growth of M&A in Vietnam, specifically, foreign investors still consider Vietnam as an attractive destination; removing bottleneck in the process of equitization and divestment from state owned enterprises (SOEs); leading SOEs are encouraged to divest state fund, while private sector is more open to foreign investors. …
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State-controlled PTT has studied the possibility of investing in central Vietnam for more than four years and had aimed to start construction this year in partnership with Saudi Aramco, the world's biggest oil producer. The complex, including a 400,000 barrel per day refinery and an olefins and aromatic petrochemical plant with annual output of 5 million tons, would help to meet Vietnam's domestic demand for oil products and boost its exports. Vietnam completed a leadership transition in April, when parliament approved a 27-member Cabinet charged with reforming an economy that has grown rapidly but remains dogged by public debt and…... [read more]
Workers at Government House prepare the venue for a joint cabinet meeting between Thailand and Vietnam led by Prime Minister Prayut Chan-o-cha and his Vietnamese counterpart Vu Huy Hoang. (Photo: Thanarak Khunton)Commerce Minister Chatchai Sarikalya told reporters on Wednesday that the target was set in a three-day meeting of a Joint Trade Committee which he co-chaired with Vietnamese Industry and Trade Minister Vu Huy Hoang, on the eve of a visit to Thailand by Vietnamese Prime Minister Nguyen Tan Dung. To reach the new goal, Chatchai said, both countries endorsed an action plan on trade and investment cooperation from now…... [read more]
The Hanoitimes - The Prime Minister Nguyen Xuan Phuc targeted the growth rate in Vietnam’s agricultural sector to be at 3%, while export value for agricultural products to reach 40 billion USD. On January 4, the Prime Minister Nguyen Xuan Phuc attended the meeting held by the Ministry of Agriculture & Rural Development on the performance of the sector in 2017 and its plan in 2018. In 2017, the agricultural sector has attained 7 significant results, in which, the total export value reached an all time high of 36 billion USD. In 2018, the sector set the target of growth…... [read more]
(Cinet)- Ca Mau decided to support the budget of over 20 billion VND to invest in developing U Minh Ha National Garden – where protecting the biodiversity, having scientific research values and becoming the fascinating destination towards visitors. Many categories of the works will be invested to build up such as routes of roads bridging from the Centre of Ca Mau to the National garden with the length of 20 kilometers; services serving tourist visitors such as temporary accommodations, restaurants and places for visitors to go sightseeing and many other supported works.U Minh Ha National Garden was decided to establish by…... [read more]
On June 16, Prime Minister Nguyen Xuan Phuc hosted a reception for visiting Thai Deputy Prime Minister Thanasak Patimaprakorn in Hanoi. The cabinet leader told his guest that businesses from both nations should enhance trade and investment, pointing out a wealth of opportunities awaiting Thai investors after Vietnam participates in a broad array of new-generation free trade agreements (FTAs).He also asked businesses to partner with each other to benefit their farmers as both nations are the world’s biggest rice exporters and Vietnam has abundant and skillful labour resources that can meet Thailand’s demands.Meeting with his Vietnamese counterpart Vu Duc Dam the same…... [read more]
The goal was set in an action plan ondeveloping the wood market from now to 2020, approved by the Ministry ofAgriculture and Rural Development last month.Quyen, generalsecretary of the Vietnam Timber and Forest Products Association(Vietfores), said that his assessment was based on the fact that exportsto major markets such as the US, Japan and EU will continue to increasein the future. In 2014 alone, exports to the three markets will witnessgrowth rates of 10 percent, 15 percent and 18 percent, respectively.Currently,wood and timber product exports ranked fifth among Vietnam 's top 10export industries. With effective solutions and support policies, thesector…... [read more]
Three commercial banks in Vietnam, the Bank for Investment and Development of Vietnam (BIDV), the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) and the Bank for Foreign Trade of Vietnam (Vietcombank) are actively raising the scale, capital, and governance level to become one of the first regional-class banks by the end of 2015.The scheme to restructure credit organizations of Vietnam targets to have at least one to two banks reaching the scale and level of regional banks. Of the three above banks, Vietinbank takes advantage of equity and total assets compared to BIDV and Vietcombank.This year the…... [read more]
Over the last 20 years since Vietnam and Korea established official diplomatic relations (12/1992-12/2012), the relations between the two countries have grown stronger and stronger. Korea is now the second largest investor in Vietnam and also a major partner, contributing greatly to the development of Vietnam.Vietnam and Korea have achieved very good development with practical special achievements in the field of investment and trade cooperation. December 12th 1992 marks the time Vietnam and Korea joint declaration on the establishment of the ambassadorial level diplomatic relations. This is an event of great significance, opening a new page in the history of relations…... [read more]
Meanwhile, the total import turnover reached 66.2 billion USD, recording an increase of 15.8 percent from last year.TheFDI sector was overwhelmed by import-export activities, according tothe General Statistic Office (GSO). The export surplus of the FDI sectorkept the nation's trade deficit at 3 billion USD.The FDI sectorexported 44.4 billion USD in the first five months, increasing by 12percent, and imported 39.7 billion USD, rising by 23.2 percent, to make atrade surplus of 4.7 billion USD.The domestic sector exported18.8 billion USD, nearly a half of the FDI sector, and imported 26.5billion USD turnover, making a trade deficit of 7.7 billion USD.According…... [read more]
The central province of Ha Tinh, along with many organizations and individuals has invested more than 20 billion VND to upgrade Dong Loc T-junction historical relic site to mark 40 years of Dong Loc victory. Every year, about 90,000 visitors nationwide visit and offer incense at Dong Loc T-junction – a historical relic site well-known for the story of 10 young female volunteers who sacrificed themselves to US bombs while ensuring transportation in the Ho Chi Minh trail. All of them were unmarried. (According to TTXVN)... [read more]
