Wave of M&As forecast for Vietnam
With a raft of free trade agreements on the way, a checklist of equitisations, and new legislation in place to support foreign investment, a new wave of M&As are forecast to sweep across Vietnam. Oliver Massmann, general director of Duane Morris Vietnam LLC, considers some of the likely outcomes. The 2005 Law on Investment and […]
Vietnam draws attention from FDI firms
Several foreign direct investment (FDI) enterprises are planning to develop big projects in Vietnam this year in view of an improved investment environment. Katsuyoshi Soma, general director of Canon Vietnam told Hai quan (Customs) newspaper that the company had achieved significant success in 2014 in Vietnam despite a slow recovery in the world market. This […]
M&A ‘taste’ changing
If the real estate, consumer, banking sectors, etc. were the leading targets for the merger and acquisition (M&A) activity, many new groups of industries have emerged this year. Typical is the automotive industry. Due to economic difficulties, the strong decline in the industry’s profit, the increasingly intense competitive challenges, many businesses have chosen not to […]
Old condominium reconstruction projects opened to foreign investors
Wholly foreign-owned enterprises, joint-venture companies with foreign investors and overseas Vietnamese businesses would be permitted to implement or join hand with others in implementing projects to renovate or reconstruct old apartment buildings in the country. This is provided in a draft decree prepared and recently unveiled by the Ministry of Construction for public opinion. In […]
Project launched to promote Vietnamese products in supermarkets
The Ha Noi People’s Committee plans to increase the market share of Vietnamese products in supermarkets to 90 per cent by the end of 2015.The information is provided in Plan No 46 on the implementation of a project to develop the domestic market along with “The Vietnamese people use Vietnamese products” campaign in the 2015-20 […]
15 banks offer online tax payment service
Fifteen commercial banks have signed a cooperative agreement with the General Department of Taxation under the Ministry of Finance to offer online tax payment services According to the agreement, these banks will build and implement a system for exchanging information and managing the database on online tax payments. The service will also use digital signatures […]
M&As: Much Room for Growth
Mergers and acquisitions (M&As) in Vietnam have tremendously increased in both quantity and value over the past five years. According to data from the Ministry of Planning and Investment, before 2007, no more than 50 M&A deals worth only about US$300 million were concluded in Vietnam. But, the M&A value reached over US$1.08 billion in […]
VN strives for big tax reform
HA NOI (VNS) — Deputy Prime Minister Vu Van Ninh said every province would strive to implement an e-tax service to cut tax declaration procedural times to 171 hours per year in 2015. Under Ninh’s instructions, laid out in a tax review meeting in February, all tax departments must continue reviewing and minimizing paperwork to […]
VFF begins supervision of tax, customs procedure reform
The Vietnam Fatherland Front (VFF) will begin supervising the tax, customs and social insurance procedures reforms in 2015. Accordingly, from now through the end of June, the VFF and its member organisations will supervise tax and social insurance activities in the major economic areas of Hanoi, HCM City, Dong Nai, Binh Duong and Ba Ria-Vung […]
Foreign firms eye M&A deals as SOEs equitise
Foreign direct investment into Vietnam via mergers and acquisitions is on an upward trend, underlining the growing appetite among foreign companies to acquire stakes in existing companies as the fastest way to strengthen their foothold in the country. According to the online market intelligence and finance news firm StoxPlus, 2014 recorded 265 completed merger and […]