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Despite problems, 2011 FDI spending equals 2010

In 2011, the country attracted $14.7 billion in FDI, equal to 74 per cent of 2010. Over $11.5 billion came from 1,091 newly-licensed projects while the rest was from 374 existing projects that increased their capital.

Vietnamese enterprises expanding into international markets

Hoang Anh Gia Lai Group has become one of the most successful investors in this neighbouring country with the total investment capital of US$1 billion in such areas as rubber, sugar cane, mining and hydropower industries.

Vietnamese firms invest over $24.5b in foreign countries as of July-end

The investment capital of Vietnamese investors exceeded $10.7 billion and chartered capital of Vietnamese investors also reached approximately $10 billion. They mainly invested in mining sector with about $17 billion, of which, Vietnamese investors poured over $4.3 billion and chartered capital of over $3.7 billion.

Disbursement for loans at interest rate of 17-19pct/yr remains low

Truong Van Phuoc, general director of Vietnam Export and Import Commercial Joint Stock Bank (Eximbank-EIB) said that so far his bank has disbursed some 500-600 billion dong with low lending interest rate. However, those who want to borrow capital must have good performance and commit to sell foreign currency for the bank.

Rise in bad bank debt exposes economy

In a workshop with the World Bank in June, the council’s vice chairman, Le Xuan Nghia, said that bad debts were a major concern because a large part of banks’ capital had been lent to inefficient State-run enterprises.

Bad debt of Vietnam’s whole economy at 7-8pct: Bidv’s chairman

According to the representative of state-run enterprises, the bad debts of some banks are still higher than the average level of the entire banking system, of which, Vietnam Bank for Agriculture and Rural Development (Agribank)’s bad debt is 6.67% and Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB)’s bad debt is 3.47%. Notably, Agribank still posted low capital adequacy ratio (CAR).

Overseas Vietnamese workers to send home $1.8 bln: ministry

The agency forecasts there would be about $10 billion of overseas remittances to be transferred to the country by overseas laborers in 2011-2015. Though the total amount of money sent home by Vietnamese workers are still small compared to that in some other countries which is even higher than the foreign direct investment (FDI) capital, international aids and higher than the export turnover of some key items, it has help significantly improve the poverty and promote investments, said the department’s spokesperson.

Vietnam spends $3.13 bln on foreign aids repayment

Among the expenditure, the state budget spent up to 75.6 percent of the estimate on compensation for preferential credit interest rate difference, 73.9 percent of the estimate on supporting the national reserve and 63.6 percent of the estimate on supporting capital for state-owned enterprises.

Over 16.5tr dong to build Dong Hoi seaport in central

As planned, to 2020, this seaport will be able to receive 30,000-50,000 dwt ships. The seaport has total expected investment of 16.555 trillion dong, of which, the investment till 2015 would be about 10.574 trillion dong. This capital source will come from the investor of Dong Hoi industrial zone and capital mobilisation from other enterprises.

Da Nang takes lead in competitiveness index

In the first four months of this year, Da Nang licensed an additional 19 projects with a total capital of over $300 million. In the first quarter alone, the city attracted $424.5 million, including newly-registered and additional capital, for 16 projects, representing a 4.9 fold increase over the same period last year.

Capital-thirsty property developers forced to sell

According to Nguyen Hong Phuc, general director of Nha Viet Investment and Construction Joint Stock Company, such changes of ownership were common in the first quarter of this year, though transaction details were often kept secret, especially if sellers were small businesses facing a shortage of capital. Since the second half of 2010, as the real estate market has taken a downturn, there are many such businesses.

Foreign telcos dial up capital changes

Figures from the Ministry of Information and Communication revealed that Vietnamobile and Beeline networks were ranked at the bottom of market share lists. Vietnamobile had a 3.1 per cent mobile service market share and Beeline a mere 0.16 per cent by the end of last year.

Vietnam to Cut 10% Total Investment Capital in 2011: MoIT

The Vietnamese government ordered to reduce current expenditures by 10% of the year’s estimate and raise collecting revenue by between 7%-8% of the year’s estimate in the efforts of taming inflation.

Banks to stop gold deposits to curtail risks

According to the SBV, gold deposit and lending activities in the past resulted in gold price unpredictability and fluctuations, leading to increased gold speculation and illegal imports, which negatively impacted the monetary and foreign exchange market and exchange rate. Moreover, credit organisations’ gold lending activities mainly focused on the non-production area, which is excluded from the State’s capital priorities.

Asia’s $1 trillion infrastructure opportunity

Traditionally, most Asian infrastructure projects have been funded by governments or domestic banks. Foreign investors were mostly excluded. Those that were allowed to participate faced severe restrictions, including complex regulatory and legal regimes, uneven workforce quality, and occasional political interference. In the wake of the financial crisis, however, we have started to see signs that global private capital is increasingly welcome. The combined effects of increased stimulus spending and reduced tax receipts have increased deficits, with the result that restrictions on foreign investment are easing and a growing number of projects are being carried out under public–private partnerships (PPP). We estimate that over the next ten years fully $1 trillion of the $8 trillion of projected infrastructure projects will be open to private investors under PPPs. The questions for owners of global capital are how to identify the opportunities, how to mitigate the main risks, and how to develop appropriate entry strategies.


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