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After rapid expansion, banks in Vietnam settle into stability
As a senior international banker who has spent years overseeing Vietnam’s economy and financial sector during a period of break-neck development, Dennis Hussey, the Greater Mekong Region head and CEO of ANZ Vietnam, has accumulated a deep understanding of Vietnam’s banking system.
Tariffs fail to reduce cheap steel
Despite imposing additional tariffs on imported steel billets and rods, Vietnam has failed to stem the influx of imported steel, mainly from China whose suppliers are offloading products cheaply due to oversupply in their domestic market.
Firms eager to buy into Vietnam’s M&A market
Economic boundaries opening wider thanks to free trade agreements (FTAs) are forecast to expand the Vietnamese mergers and acquisitions market, although these new opportunities may come at a price.
Samsung SDS strengthens regional presence through Vietnamese joint venture
Samsung SDS will co-operate with the country's largest airport terminal logistics business Aviation Logistics Service (ALS) to establish a joint venture in Vietnam and boost its presence in the Southeast Asian logistics market.
Phuoc Son Gold resumes operation
Phuoc Son Gold Company Ltd. (Phuoc Son Gold), managed by Canadian Besra Inc.’s Vietnamese subsidiary, has restarted the operation of its Dak Sa gold mine, thanks to Viet A Bank taking hold of 35% of the company’s shares as debt payment.
Regent teams up with BIM Group for first project in Vietnam
Taiwan-based international luxury hotel operator Regent is going to take the first step in Vietnam with the Phu Quoc Marina project developed by BIM Group.
Fraser & Neave Ltd eyes Vinamilk
Fraser & Neave Ltd. (F&N), which is controlled by Thai beer tycoon Charoen Sirivadhanabhakdi, has announced its ambition to acquire more shares in Vietnam Dairy Products Joint Stock Company (Vinamilk) as a part of its plans to expand its presence in Southeast Asia.
Unclear future for Vung Ro refinery
It is unclear whether the Vung Ro refinery project in the central province of Phu Yen will be implemented this year, even though both the authorities of Phu Yen province and the leaders of Vung Ro Petroleum Ltd. said they were determined to start the project in 2016.
Berjaya’s US$3.5 billion project in second city faces possible revocation
The Ho Chi Minh City People’s Committee has just requested the city’s Department of Planning and Investment to review Berjaya Corporation Bhd.’s Vietnam International University Township (VIUT) project in the northwest urban area.
Economists still upbeat on Vietnam
Despite facing numerous challenges, some international organisations remain optimistic about Vietnam’s economic prospects for 2016 due to surging manufacturing and foreign investment.