The Business Times: Vietnam firms wary of higher stakes for foreign investors

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• Vietnam firms wary of higher stakes for foreign investors
• FPT strikes first M&A deal in Slovakia
• Multinationals keep eye on Vietnam potential
• Banks move to decrease borrowing costs again
• Gazprom, PetroVietnam jointly operate Dung Quat refinery
• FDI to HCMC Jumps 83% YoY in Jan 1-June 15
• Da Nang Grants Investment Certificates for 7 FDI Projects
• SBV Unexpectedly Adjusts Exchange Rate 1%
• Exporters oppose new gov’t decree on catfish contracts
• What are the consequences of China’s reduced investments in VN?

Vietnam firms wary of higher stakes for foreign investors Posted: 19 Jun 2014 01:53 AM PDT Firms were eager for the long-awaited proposal to increase foreign stakes in listed companies, but some were cautious over unexpected acquisitions. The State Securities Commission’s proposal to increase foreign stakes in listed companies from the current 49 per cent to 60 per cent is now under scrutiny amid the Law on Enterprise being amended. Nguyen […] The post Vietnam firms wary of higher stakes for foreign investors appeared first on Vietnam Business News.

FPT strikes first M&A deal in Slovakia Posted: 19 Jun 2014 01:51 AM PDT FPT, the leading Vietnamese ICT company, signed a deal with Slovak energy corporation RWE in Berlin on June 18 to purchase its subsidiary RWE IT Slovakia. Under FPT's first mergers and acquisitions (M&A) deal, RWE IT Slovakia will be renamed FPT Slovakia and wholly invested by FPT Software in the country. Established in 2004, RWE […] The post FPT strikes first M&A deal in Slovakia appeared first on Vietnam Business News.

Multinationals keep eye on Vietnam potential Posted: 19 Jun 2014 01:49 AM PDT Vietnam has emerged as one of the top three frontier-market economies that are attracting the most attention from American and European multinationals, according to the latest Frontier Markets Sentiment Index. The Index, published last week in the Wall Street Journal, is developed by Washington DC-based advisory firm Frontier Strategy Group (FSG). It tracks the level […] The post Multinationals keep eye on Vietnam potential appeared first on Vietnam Business News.

Banks move to decrease borrowing costs again Posted: 19 Jun 2014 01:49 AM PDT Some commercial banks have cut deposit interest rates by 0.2-0.5 percentage points in the past 10 days to reduce input capital costs and further lower borrowing costs. Vietcombank, one of the big four by assets in Vietnam’s banking system, cut the annual deposit interest rate for three months and shorter terms by up to 0.3 […] The post Banks move to decrease borrowing costs again appeared first on Vietnam Business News.

Gazprom, PetroVietnam jointly operate Dung Quat refinery Posted: 19 Jun 2014 01:46 AM PDT Leading Russian energy group Gazprom and leading Vietnamese oil and gas group PetroVietnam have reached an agreement on operating and developing Vietnam's Dung Quat oil refinery. The agreement was reached during a recent meeting between Gazprom's deputy chief executive Vitaly Markelov and PetroVietnam's CEO Do van Hau. Both sides said the pooling of their resources […] The post Gazprom, PetroVietnam jointly operate Dung Quat refinery appeared first on Vietnam Business News.

FDI to HCMC Jumps 83% YoY in Jan 1-June 15 Posted: 18 Jun 2014 08:40 PM PDT Foreign Direct Investment (FDI) inflows into Ho Chi Minh City (HCMC) were estimated at $901 million in Jan 1-June 15 period this year, making a year on year rise of 83%, tuoitre.vn reported. The city granted investment certificates for 162 new FDI projects worth $794 million and allowed 49 existing FDI projects to add $107 […] The post FDI to HCMC Jumps 83% YoY in Jan 1-June 15 appeared first on Vietnam Business News.

Da Nang Grants Investment Certificates for 7 FDI Projects Posted: 18 Jun 2014 08:40 PM PDT Da Nang granted investment certificates for 7 Foreign Direct Investment (FDI) projects in the first 5 months of this year worth $3.5 million, dddn.com.vn reported. In the period, the city also allowed 8 existing FDI projects to add $10.5 million. Up to date, Da Nang has lured total of 288 FDI projects worth $3.334 billion, […] The post Da Nang Grants Investment Certificates for 7 FDI Projects appeared first on Vietnam Business News.

SBV Unexpectedly Adjusts Exchange Rate 1% Posted: 18 Jun 2014 08:20 PM PDT In the evening of June 18, 2014, the State Bank of Vietnam (SBV) surprisingly announced the decision to adjust the USD/VND exchange rate, local newswire VnEconomy reported. The decision is unexpected because only more than a week earlier the SBV's Governor said currently the required conditions for exchange rate adjustment didn't exist. In the new […] The post SBV Unexpectedly Adjusts Exchange Rate 1% appeared first on Vietnam Business News.

Exporters oppose new gov’t decree on catfish contracts Posted: 18 Jun 2014 08:19 PM PDT Catfish exporters, who strongly oppose a newly released decree on catfish export management, say they hope the watchdog agency will rethink its policy. The decree is to take effect on June 20. Decree No 36 stipulates that catfish exporters must register their export contracts with the Vietnam Pangasius Association (VPA). "We don't want to report […] The post Exporters oppose new gov't decree on catfish contracts appeared first on Vietnam Business News.

What are the consequences of China’s reduced investments in VN? Posted: 18 Jun 2014 08:17 PM PDT Vietnamese economists are trying to calculate the damage to the national economy in case China stops trade and investment activities with Vietnam. Many Vietnamese have expressed their concerns about the possibility of China suspending its trade and investment activities if Vietnam sues China in the international arbitration court. They have reasons to worry about this […] The post What are the consequences of China's reduced investments in VN? appeared first on Vietnam Business News.

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