Investing

Hong Kong is calling for investment from Vietnam in the fields of financial services, consumer goods, transportation and industry, tourism-restaurant-hotels, technological innovation, and innovative industries. According to Stephen Phillips, general director of Invest Hong Kong (InvestHK), Hong Kong's government promotion authority, Hong Kong is an active international business environment and offers foreign investors convenient business registration procedures, modern infrastructure, and low tariffs. Hong Kong is looking to strengthen business ties with Vietnam “Moreover, we now have a mechanism to provide support for newly-established and mature firms, from planning and opportunity evaluation to visa application and marketing,” stated Phillips at the round table to call for investment from Vietnam held in Ho Chi Minh City on August 13 organised by the Vietnam Chamber of Commerce and Industry (VCCI) Ho Chi Minh City. Phillips said there are ample business … [Read more...] about Hong Kong stands ready to welcome Vietnamese investors

Masan Resources Corporation (UPCoM: MSR), one of the world’s largest integrated industrial tungsten mineral and chemical producers, announced that Nui Phao Mining Company Ltd. (NPMC), a wholly-owned subsidiary of the company, has acquired H.C.Starck GmBH’s (HCS) 49 per cent stake in Nui Phao-H.C.Starck Tungsten Chemicals Manufacturing LLC (NHTCM) for the total cash consideration of $29.1 million, and now owns 100 per cent of this company. Masan bought out HCS from their joint venture tungsten chemicals processing facility NHTCM, previously a joint venture between NPMC and HCS, was established in 2013 and is a leading producer and global supplier of tungsten chemicals (ammonium paratungstate [APT], blue tungsten oxide [BTO], and yellow tungsten oxide [YTO]). NHTCM processes tungsten concentrate (TC), the main product of NPMC, into higher value-added tungsten products. In consideration of NHTCM’s contribution to the development of Vietnam’s high-tech … [Read more...] about Masan takes full ownership of tungsten processing facility

An Phat High-Tech Industrial Park Company Limited’s takeover of the notorious Viet Hoa-Kenmark Industrial Zone (IZ) may revive the project to make An Phat a supplier of Samsung.   An Phat will try to revive the Viet Hoa-Kenmark IZ to further its ambitions After winning at the auction organised by Bank for Investment and Development of Vietnam (BIDV) in March, An Phat became the new owner of Viet Hoa-Kenmark IZ and renamed the IZ to An Phat Complex Hi-Tech IZ. Previously, in March 2018, BIDV, the largest creditor of Viet Hoa-Kenmark IZ, organised an auction to put the notorious IZ on sale. An Phat won the bidding after paying VND756.45 billion ($33.47 million), equalling the starting price of the auction. However, the selling price is still lower than the VND800 billion ($35.39 million) that BIDV expected to acquire from the deal. While BIDV is happy to have gotten rid of the liability, An Phat expects that revive the IZ and make it its new base, serving its target … [Read more...] about An Phat to revive notorious Viet Hoa Kenmark IZ

The southern province of Ba Ria - Vung Tau has attracted US$2.15 billion of foreign direct investment (FDI) since the beginning of this year, up 30.6 per cent over the same period last year. Vung Tau Petroleum Service Port - VNA/VNS Photo The province ranks third in FDI attraction in the country. To date, FDI enterprises have invested in 360 projects in the province with a total registered capital of more than $28 billion, according to a report from the provincial Department of Planning and Investment. In addition to attracting new projects, the province has created favourable conditions for existing projects to increase capital. This year, 30 FDI projects have increased capital of more than $320 million. These include projects such as a brewery with a capacity of 610 million litres per year of Heineken Viet Nam Brewery Vung Tau JSC and the Heineken Viet Nam Brewery Limited Company in My Xuan A Industrial Zone in Phu My Town, with a registered capital increase of $96.8 … [Read more...] about Foreign investment into Ba Ria Vung Tau soars 30pc

Liquefied natural gas, a solution to Vietnam’s energy shortage, presents new opportunities for power producers and investors alike. PV Power chairman Ho Cong Ky addressing the meeting with its partners and advisors PetroVietnam Power Corporation (PV Power) last week met with advisors, partners, and local and foreign banks to introduce its latest project series on liquefied natural gas (LNG). Attendees included senior representatives from the Ministry of Planning and Investment, the Ministry of Industry and Trade, and Vietnam’s state-run oil and gas group PetroVietnam. PV Power CEO Nguyen Xuan Hoa stated that between 2018 and 2022, PV Power will focus on building the Nhon Trach 3 and 4 thermal power plants in Ong Keo Industrial Zone in the southern province of Dong Nai, while its sister company, PV Gas, takes responsibility for LNG in its Thi Vai storage terminal. Based on the approved plan, the Thi Vai storage terminal will begin operations in the second quarter … [Read more...] about PV Power sets stage for LNG plants