Vietnam pm invites foreign investors to join SOE privatization
Vietnam encourages foreign companies with strong financial resources, know-how and large market footprint to buy shares of state-owned enterprises when they go public, Vietnamese Prime Minister Nguyen Tan Dung stated at a global investment event held by business magazine Euromoney in Hanoi. The prime minister noted that Vietnam is seeking to accelerate the privatization process of state firms after as many as 350 companies were privatized between 2011 and September 2015.
Vietnam to offer $10 worth of SOE shares for sale: official
The Vietnamese government will launch some VND200 trillion or $10 billion worth of shares of state-owned enterprises for sale in the time to come and expects foreign investors to increase their involvement to make the privatization process a success, said Pham Viet Muon, deputy head of the SOE equitization steering committee on Wednesday.
Vietnam GDP growth can exceed 6.53% in 2015, hit 6.7% in 2016: minister
Vietnam’s economic growth can hit at least 6.53% this year and quicken to 6.7% next year after having shown positive signs, Minister of Planning and Investment Bui Quang Vinh said at a Euromoney-held business conference in Vietnam in Hanoi on September 30.
Vietnam PMI contracts in September after 25-month expansion
The headline Nikkei Vietnam Manufacturing Purchasing Managers’ Index (PMI) – an indicator of manufacturing performance – dropped below the 50.0 no-change mark in September, posting 49.5, following a reading of 51.3 in August. This marginal deterioration brought an end to a two-year sequence in which the health of the sector had improved continuously, according to a report by Markit.
Vietnam to cut stock settlement period to T+2 next January
The State Securities Commission (SSC), Vietnam’s stock market regulator, has decided to shorten the settlement period for shares to 4:30 p.m. of T+2 day from 9:00 a.m. of T+3 day presently, starting January next year, in a move to boost market liquidity and lure domestic and foreign investors.
Standard Chartered Vietnam okayed to lift capital base to 3.08t VND
The State Bank of Vietnam, the country’s central bank, has allowed Standard Chartered (Vietnam) Bank to increase its registered capital to 3.08 trillion VND ($136.9 million) from the previous 3 trillion VND, making it the third-largest wholly foreign-invested lender in Vietnam by capital base after HSBC and Shinhan.
U.S., ASEAN firms to get license for 3 projects in Saigon Hi-Tech Park by year-end
Authorities of the Saigon Hi-tech Park (SHTP) will license three projects worth over $700 million to be implemented by investors from the U.S. and ASEAN by the end of this year, said Le Hoai Quoc, head of the SHTP management board. Investors from the U.S., Australia, Japan, South Korea and Singapore have won license for 82 projects totaling over $1 billion so far.
Vingroup opens first Vincom trade center in Haiphong
Vingroup, the largest private-run real estate developer in Vietnam, made debut of Vincom Le Thanh Tong, the first Vincom-brand trade center in Haiphong, with five floors and a basement having a total floor area of 20,000 square meters, after eight months of construction. Shoppers can buy a wide array of products including fashion of international brands such as Adidas, Bata, Ecco, Gurkha, Emigo, accessories, cosmetics, electronics and furniture.