Vinaconex seals cooperation deal with foreign partner Business

Vinaconex seals cooperation deal with foreign partner

The Vietnam Construction and Import-Export JSC (Vinaconex) and Hyundai Engineering & Construction Co. Ltd (Hyundai E&C), a subsidiary of the RoK-based Hyundai Motor, signed a memorandum of understanding on project development in Hanoi on May 20.
Horse racing course added into Hanoi’s planning Business

Horse racing course added into Hanoi’s planning

Prime Minister Nguyen Xuan Phuc has approved the addition of the multi-purpose entertainment complex – horse racing course project into Hanoi’s master plan on socio-economic development by 2020, with orientation to 2030.
Banks eye consumer finance for bigger share Business

Banks eye consumer finance for bigger share

Several banks are keen to establish consumer finance arms to grab a bigger share of a market that is expected to reach 1,000 trillion VND (4.38 billion USD) by 2020 and grow at 29 percent annually.
Vietnam, RoK tighten financial cooperation Business

Vietnam, RoK tighten financial cooperation

The State Bank of Vietnam (SBV) and the Republic of Korea (RoK)’s Financial Services Commission (FSC) has signed a memorandum of understanding on cooperation in the field of financial innovation in Hanoi.
Local banks draw foreign interest Business

Local banks draw foreign interest

Commercial banks expect to attract foreign investment in their newly-established financial companies thanks to the profitable domestic consumer financial market.
Business

Banks look to foreign funds

Many Vietnamese banks are seeking support from foreign partners, including Japanese investors, in a bid to boost their capital.
Business

Bank merger talks continue

A possible merger between Ho Chi Minh City Development Bank and DaiABank revealed two weeks ago was ignored at DaiABank's annual shareholder meeting on May 10.
Business

Banks rely on foreign partners to raise capital

One of the ways in which banks are planning to increase their charter capital this year is to have their strategic partners acquire a greater stake – from the current 10 to 20 percent.

However, it is not very clear if this move, aimed primarily at meeting new minimum charter capital requirements, will work for everyone.

Most of the applications that have been made in this regard are yet to be approved, and experts say the general gloomy economic outlook would make many foreign banks more cautious with their investments.