Economy

Huntsman Corporation, a US manufacturer and chemical company, opened a multi-purpose facility at the Amata Vietnam Industrial Park in the southern province of Binh Duong on August 23.

A series of new airport projects and upgrading of existing airports have been suggested with total investment capital of billions of dollars.

An event connecting technology ventures of Vietnam and the Republic of Korea (RoK) was held in Ho Chi Minh City on August 22 to strengthen cooperation and trade activities between businesses of the two countries. 

Both state-owned and private businesses are eyeing aviation infrastructure projects, which are believed to bring high profits thanks to increasingly high travel demand.

Experts say the legal framework for consumer financing is still not open enough, creating difficulties in attracting foreign capital.

The Ho Tram Strip is currently a magnet attracting investors to the Vietnamese resort market, especially the condotel market. It not only attracts more than 200,000 visitors a year but also helps Vietnamese and foreign investors make attractive investment deals.

Up to 41 of the 44 new projects in Ha Nam so far this year have invested in processing, manufacturing, and supporting industries, a result of the Red River Delta province’s efforts to selectively attract investments.

The northern province of Bac Ninh licensed 116 new foreign direct investment (FDI) projects worth US$332.5 million in the first seven months of 2018, according to the provincial Department of Planning and Investment.

Minister of Planning and Investment Nguyen Chi Dung on August 20 advised the northern province of Thai Nguyen to create a better environment in order to attract more investors, as well as pay more attention to regional connectivity to provide mutual support.

The Orient Commercial Joint Stock Bank (OCB) has successfully issued shares worth more than VND900 billion (over US$39.6 million) to increase its chartered capital.

Vietnam National Shipping Lines (Vinalines) is welcoming all investors interested in becoming shareholders of the corporation during its initial public offering (IPO) scheduled for September 5 at the Hanoi Stock Exchange. 

Nineteen projects with total capital of US$1 billion received investment licenses at an investment promotion conference of southern Binh Phuoc province on August 20.

Foreign direct investment (FDI) in HCM City is dwindling and cannot continue to drive the economy, Su Ngoc Anh, Director of the municipal Department of Planning and Investment, has said.

Nui Phao Mining Company Ltd has acquired Germany-based H.C.Starck GmBH’s 49% stake in Nui Phao – H.C.Starck Tungsten Chemicals Manufacturing LLC (NHTCM) for US$29.1 million.

Participants heard details about the new government regulations and policies on investment encouragement for the promotion of innovative startup activities, during a workshop held in Hanoi on August 14.

The Ho Chi Minh City hotel market this year has welcomed many foreign brands, including Mandarin Oriental, Movenpick and Best Western Premier. 

The southern province of Dong Nai has so far this year attracted over US$1.14 billion in foreign direct investment (FDI), surpassing its yearly target by 14%, the province’s industrial zones management board said on August 13.

The Mekong Delta province of Kien Giang introduced a list of 64 projects that call for investment in 2018 at an investment promotion forum held in Ho Chi Minh City on August 13. 

JAMJA - a technology startup firm in Vietnam - has just successfully called for nearly VND20 billion (US$860,000) from major investment funds of the Republic of Korea (RoK) and Japan.

Foreign manufacturers are shifting their focus to Vietnam’s medical equipment market, which promises strong growth and harbours unexploited potential.