VietNamNet Bridge - Will the increasingly high investments by mainland China, Taiwan, Hong Kong and Macau bring opportunities or challenges? Macau’s Sun City has expressed its intention to develop a casino project on Phu Quoc Island of Vietnam’s Kien Giang province, capitalized at no more than $4 billion. Sun City and the well-known real estate group from Hong Kong Chow Tai Fook are the partners of VinaCapital, the largest investment fund management company in Vietnam, in a project to develop a $4 billion high-end amusement complex with casino in Hoi An in Quang Nam province. The construction of the complex is scheduled to kick off in mid-2015. Chinese-speaking economies have also poured money into many other business fields in Vietnam, from textile & garment, real estate, steel to finance, energy and infrastructure. In 2014, the economies registered $3.6 billion worth of investments in Vietnam, becoming the second largest foreign investor in Vietnam, after South … [Read more...] about The strategic moves of Chinese-speaking economies – Why Vietnam?
Hong kong and macau bring opportunities or challenges
Mai Linh to buy 100 French-made electric cars Local taxi group Mai Linh would sign a contract with French automaker Renault in Hanoi this Friday to buy 100 electric cars, according to the French embassy in Hanoi. The deal would see Mai Linh acquiring 100 Renault Fluence cars as part of the local firm's project to use environmentally-friendly vehicles in major cities in Vietnam to reduce air pollution. Late last year, Mai Linh and Auto Motors Vietnam, the authorized importer of Renault cars in Vietnam, struck a memorandum of understanding on using electric cars for taxi services in the nation. Accordingly, 10,000-20,000 electric cars made by Renault would be imported into in a 5-year period and the domestic assembly of such cars would be weighed during the period. According to the French embassy, French Ambassador to Vietnam Jean-Noel Poirier, and Hanoi chairman Nguyen Duc Chung will clinch an agreement on cooperation in sustainable urban development, especially improvement of air … [Read more...] about BUSINESS IN BRIEF 9/4
Foreign investors to meet in annual investment conference Co-hosted by the Ho Chi Minh Stock Exchange (HOSE) and financial data provider Stoxplus, the annual conference themed "Vietnam Stock Market: On the Way to Emerging Markets" will discuss promoting Vietnam's securities market to an emerging market (EM) classification. HOSE Deputy General Director Tran Anh Dao said foreign investors will be provided with information about Vietnamese government activities to accelerate the upgrade Vietnam's securities market to EM status. They will learn more about a regulation allowing them to increase up to 100 percent of voting shares in a Vietnamese public company. A majority of foreign investors agreed that Vietnam is increasingly attractive thanks to its economic stability and the high potential of its private sector.- Decree sets out business fee structure Organisations dealing in production and business activities, with a charter or investment capital of more than 10 billion VND … [Read more...] about BUSINESS IN BRIEF 12/10
OCB and HPU come together The Orient Commercial Joint Stock Bank (OCB) signed a comprehensive cooperation agreement with its 13th university partner, the Haiphong Private University (HPU), on September 23. The agreement marks a step forward in the relationship between the two. OCB will provide a tuition fee collection system for the university and other preferential banking services such as free current account or education account opening, while HPU will work with OCB in promoting the bank's brand and in other activities. OCB granted scholarships to HPU students to mark the signing and committed to work with it in several programs relating to job consultancy and internships. "OCB appreciates this relationship with HPU, which is the first university in the north we have signed a comprehensive cooperation agreement with," said Mr. Truong Dinh Long, Deputy CEO of OCB. "The relationship will support the university and its students in financial solutions." With much experience from working … [Read more...] about BUSINESS IN BRIEF 27/9
Transport firms urged to fight wildlife trade The transportation sector must work closely with law enforcement agencies to bolster the fight against wildlife crime and reduce demand for wildlife consumption, experts said at a two-day workshop that ended on August 12 in HCM City. "This workshop will give key transport and logistic enterprises in Vietnam knowledge, resources and support so that they can minimise the reputational risk of being implicated in wildlife crime," said Madelon Willemsen, Head of TRAFFIC in Vietnam. Over 80 participants from 33 logistic companies, including members from the Vietnam Association of Transportation and Automobiles, and government departments, including the Forest Protection Departments and Customs, learned about the importance of conservation and ways they can have the most impact to support conservation in their fields of work. Participants were shown how they can protect their reputation by implementing corporate social responsibility policies … [Read more...] about Social News 15/8