Aug. 4 – In this issue of Vietnam Briefing, we look at the process of establishing representative offices in Vietnam. As the second best performing economy in the region this year, many foreign investors are now considering building a presence in Vietnam to take advantage of the robust growth. A representative office is the simplest way to do so initially as a company tests the viability of the Vietnamese market.
We also cover related topics that include comparing representative offices with branch and wholly foreign-owned enterprises to determine which type is the most suited for your company; obtaining a foreign work permit in Vietnam; and regulations on applying as a foreign contractor. Read the rest of this entry »
Jul. 26 – The major port city of Danang in central Vietnam has so far lured in US$2.8 billion worth of foreign direct investment.
A majority of the investments were poured into 29 realty projects comprising of up to 73 percent of the city’s total FDI. Danang’s largest foreign investor was the British Virgin Islands followed by South Korea, the United States, Hong Kong and Japan. Read the rest of this entry »
Jul. 12 – A pilot regulation will open Japanese-funded projects to third parties for bidding in an effort to clamp down on corruption.
The Ministry of Planning and Investment said (MPI) said that under the trial regulation, a third party will be allowed to join tenders; study documents related to the bidding process and send reports to investors, the MPI and the Japan International Cooperation Agency on bidding irregularities. Read the rest of this entry »
Jun. 8 – Singapore-based real estate giant Capitaland, the largest developer in Southeast Asia, is planning to double its investments in Vietnam over the next three to five years to US$2.5 billion.
New projects will include affordable housing and shopping malls across Vietnam’s key cities like Hanoi and Ho Chi Minh City, Capitaland CEO Liew Mun Leong told reporters at the sidelines of a meeting with government officials in Hanoi. Capitaland currently maintains roughly US$1.2 billion in real estate projects throughout the country. Read the rest of this entry »
May 11 – Trade between Vietnam and Cambodia jumped 130 percent in the first four months of the year, reaching US$432 million.
The two nations set a goal to bring in US$2 billion worth of bilateral trade for 2010. Last year, trade amounted to US$1.33 billion, a decrease of 19 percent compared to the previous year due to the global financial crisis. Read the rest of this entry »
Apr. 21 – Vietnam may consider restricting steel imports to reduce reliance on China, Japan and Russia, says a recommendation from the Vietnam Steel Association.
The restrictions will benefit local steelmakers who are capable of meeting construction material needs for wire rods, pipes and metallic-coated steel. The move will also help the country cut its trade deficit and mitigate the effects of its fluctuating local currency. Read the rest of this entry »
HANOI, Apr. 16 – The Ministry of Planning and Investment has released the latest draft of regulations on pilot Public Private Partnerships (PPP) projects for infrastructure development.
PPP projects are critical for Vietnam to be able to develop its infrastructure as it implements further reforms to grow the economy. It is estimated that Vietnam will need to entice US$150 billion worth of investments in the infrastructure sector alone. Read the rest of this entry »
Apr. 14 – Foreign real estate service providers dominate the market in Vietnam with an estimated 90 percent of market share, reports Vietnam Net Bridge.
The top three companies in the industry are foreign players CBRE Vietnam, Savills Vietnam and Colliers, followed by local service providers like Megagroup, Eden, Him Lam and VietRees. Read the rest of this entry »
Mar. 19 – The Ho Chi Minh City government has canceled the licenses of 40 foreign direct investment projects in the real estate sector worth US$1.77 billion which have remained stagnant.
The real estate sector is one of the top avenues for foreign direct investment in the city although fund distribution has been slow and of the 143 FDI property projects worth US$9.61 billion only US$3.61 billion has been disbursed according to Vietnam Business Forum. Last year, authorities approved 13 FDI real estate projects worth US$682 million in the city, comprising of 3.39 percent of the municipality’s total FDI projects. Read the rest of this entry »
Mar. 8 – Ho Chi Minh city has so far approved investment licenses to 39 new foreign direct investment projects worth an estimated US$333.4 million.
Vietnam’s financial capital wants to attract more investment into mechanics, engineering, bio-technology, IT and new materials projects. Majority of the 29 approved licensed projects last month were located outside the export processing and industrial zones while the rest were found in the Thu Thiem and South Saigon area. Read the rest of this entry »
