bank reforms get green light

Bank reforms get green light

The government has given the go-ahead to the central bank to spend $112 million on the second stage of reform for Vietnam’s four State-owned commercial banks (SOCBs), a source from the central bank said last week.

Touch down: exporters land long-awaited route to the US

US carrier United Airlines late last week began the first US commercial flights to Vietnam since 1975 after years of work with the US and Vietnamese governments to negotiate a new air service treaty.
firms targeted for sale of state shares

Firms targeted for sale of state shares

The Ministry of Industry last week asked the government to sell off a larger portion of state-owned shares in 11 prominent equitised companies.

LG sets sights on HCMC

South Korea’s LG Engineering & Construction Corporation is hoping to bag a number of contracts to develop infrastructure and property projects in the country’s industrial hub.

Foreign investors plan $300m health complex plan hospital complex

A group of private contributors from Japan, South Korea, Singapore and the US have put plans on the table for a $300-million healthcare complex in Vietnam.

VFF to close up shop, new funds wait in wings

Vietnam Frontier Fund (VFF) is set to wrap up its operations in Vietnam by next month, a source from its management arm Finansa said last week.

Eximbank targets shareholders abroad

Local and foreign investors will have opportunities to buy into the Vietnam Import- Export Bank (Eximbank) when the bank issues its new shares by the end of this year.
new second city plaza underway

New second city plaza underway

Construction has begun on a $33 million luxury high-rise apartment complex in Ho Chi Minh City, the first large-scale property project developed by local investors.

Gemadept rescues stalled deal

Vietnam’s largest shipping agency Gemadept has successfully finalised its purchase of a 45 per cent stake in a stalled property project in Ho Chi Minh City after months of negotiations.
property boom draws leading firms to invest

Property boom draws leading firms to invest

LISTED companies are increasingly diversifying into property development in Ho Chi Minh City to tap a burgeoning demand for accommodation and office space.
dalat golf course developer rumoured

Dalat golf course developer rumoured

Lam Dong province authorities last week denied rumours that a South Korean company had been approved to develop an international golf course in Dalat.

Irish fund to inject capital into bourse

Irish-listed Phanxipang Vietnam Fund (PXP) has drawn up plans to invest in Vietnam’s emerging stock market via PXP Asset Management, its fund management arm in Vietnam.“We received the licence to open a representative office in Ho Chi Minh City last month and are now looking for investment opportunities,” said Kevin Snowball, director of PXP Asset anagement.

Foreign currency sales on the table for bourse investors

Foreign investors may soon be able use foreign currencies they transfer into Vietnam to buy stocks in local securities companies, if the State Bank approves a State Securities Commission proposal.

Becalmed project sees Germans jump ship out of stalled project

Germany’s Windhorst Land Development has agreed to sell its 70 per cent stake in a stalled property project in Ho Chi Minh City to its local partner, Ben Thanh Tourist Service Company.

Resolution on the cards for long-running tax brawl

A dispute between the developer of the Saigon South urban area and Ho Chi Minh City officials over an alleged unpaid tax bill of $30 million could end soon after a directive from Prime Minister Phan Van Khai.