Vietnam Treasury Sells $481 Million Bonds YTD
The State Treasury of Vietnam has issued a total of 10.77 trillion dong ($481 million) worth of government bonds via the Hanoi Stock Exchange in the year to date.
The treasury sold 5.06 trillion dong ($226 million) worth of debt this week, or 84.4% of the amount offered.
FDI in Vietnam Energy Sector Seen to Reach $4.5 Billion in 2016
Foreign direct investment (FDI) commitment in Vietnam’s energy sector is expected to touch a record high of $4.5 billion this year, becoming the next driver for FDI growth in the country, according to the Deal Street Asia newswire.
This sector last year attracted investments worth $2.8 billion, surpassing real estate and second only to the manufacturing sector.
Japan’s Marubeni Corp and South Korea’s KEPCO plan to invest over $2.2 billion in a 1,200 MW thermal power plant project in the north central province of Thanh Hoa, in the first quarter this year.
South Korea Firm Licensed to Build 1st Wind Power Plant in Southern Vietnam
The southern province of Binh Thuan has licensed South Korea’s DooSung Vina Co. to build a wind power plant with an investment of $66 million, the first of its kind in the locality.
The plant, which will be erected on an area of 50 hectares and have a designed capacity of 30MW, is slated for operation next year.
Vietnam Food Startup The KAfe Acquires Cupcake Chain
Vietnamese food startup The KAfe, which received a $5.5 million funding from Cassia Investments last October, has acquired local cupcake chain Mint Cupcakes Creations.
Mint Cupcakes is the first portfolio of acquisitions of The KAfe, which expects to add more outlets in Hanoi and Ho Chi Minh City in 2016.
Danish Firm Partner with Bitcoin Vietnam to Launch Blockchain Payment Processing Platform
Denmark’s Coinify ApS has inked a deal with Bitcoin Vietnam to bring advanced blockchain merchant processing tools to boost the infant fintech market in the Southeast Asian country.
Payments through a total of 17 blockchain currencies will be automatically converted to the Vietnamese dong and paid out on a regular basis.
Merchants can thus offer more payment options to their customers, while enjoying a “fraud and risk-free payment environment,” the companies said in a joint release.
Vietnam Needs Bolder Reform for EU Trade Deal
Vietnam must improve the bidding legal framework to ensure consistence with commitments to the EU-Vietnam Free Trade Agreement (EVFTA) in government procurement, participants said at a conference held by the Vietnam Chamber of Commerce and Industry (VCCI) Wednesday.
The EVFTA, which was finalized last December, is expected to promote institutional reforms in Vietnam, including improving the legal framework about government procurement, according to the WTO Center.
Government procurement was stipulated in Vietnam’s bidding legal system, but as of the end of 2015, the country had not been party to any international commitments (in effect) which regulated government procurement.
Businesses in Vietnam saved an estimated 7,000 billion dong ($311.11 million) in 2015 thanks to streamlined tax red tape. The time needed for tax payments was cut to 117 hours from 537 previously, according to the Ministry of Finance.
Some 7,700 apartments were sold in the fourth quarter (Q4) of 2015, rising 47% quarter-on-quarter (qoq) and 86% year-on-year (yoy), Savills has said in a report, noting that this is the highest transaction volume in a quarter.
Grades A’s sales increased 129% qoq and 228% yoy and Grade B’s transaction volume grew 79% qoq and 137% yoy. Both Grade A & B had the highest sales level in the last five years, says the report.
Vietnam is ranked 82nd among 109 countries and territories in terms of global talent competitiveness, according to the 2015-2016 Global Talent Competitiveness Index (GTCI) report, an annual benchmarking study measuring the ability of countries to attract and retain talent.
Vietnam’s GTCI ranking was 75 out of 93 countries and territories last year, meaning a slide of seven notches over the past year.
Siam Cement Group (SCG) has approved the proposal of its wholly owned subsidiary SCG Building Materials to acquire the remaining 15% stake of Prime Group and related assets for Bt2.19 billion ($61.24 million), the Nation newspaper cited a SCG filing as saying.
SCG in December 2012 closed a deal to acquire an 85% stake in Prime Group, the largest ceramic tile in Vietnam, for Bt7.2 billion (roughly $240 million).
Singha Asia Holding Pte Ltd (Singha), among Thai leading breweries, on January 28 began to inject $650 million in to Masan
Group Corporation (Masan), part of its strategic partnership with the latter, a Vietnamese private-run conglomerate specializing in the food and beverage sector.
The amount is comprised of a $50 million investment for a 33.3% stake in Masan Brewery and a $600 million investment for a 14.3% stake in Masan Consumer Holdings, Masan said in a filing on its website.