Day: March 12, 2024

Hanoi: Vietnam has encouraged and created favourable conditions for coal-to-gas power transition projects, Deputy Prime Minister Tran Hong Ha said while receiving Finnish Ambassador to Vietnam Keijo Novaron and President and CEO for Wartsila Corporation Hakan Agnevall in Hanoi on March 12. Speaking highly of the effective cooperation between Vietnam and Finland in the areas of circular economic development, environmental protection and clean energy, Ha said Vietnam is now a partner of the European Union (EU) and G7 countries to deliver on the net-zero commitment and the Just Energy Transition Partnership (JETP). Regarding the flexible power project of Wartsila Corporation, he asked the group to have the full consideration of the expenditure of infrastructure investment, gas purchase, power generation from renewable energy, transmission system, among others, making the project suitable to the Vietnamese market. He also informed the guests of Vietnam's policies of encouraging and attracting foreign investors to off-shore wind power development, direct power purchase, renewable energy equipment manufacturing, and waste-to-energy projects. Ambassador Keijo Novaron, for his part, said Vietnam and Finland have worked together to promote sustainable development by cooperating in the fields of clean water supply, environmental hygiene, innovation, and afforestation. The two countries have exchanged technologies and knowledge in the areas requiring state-of-the-art technologies that they are interested in, he added. Meanwhile, Hakan Agnevall said the corporation and its Vietnamese partner are working to carry out the first flexible power project in Vietnam./. Source: Vietnam News Agency

Hanoi: Vietnam has encouraged and created favourable conditions for coal-to-gas power transition projects, Deputy Prime Minister Tran Hong Ha said while receiving Finnish Ambassador to Vietnam Keijo Novaron and President and CEO for Wartsila Corporation Hakan Agnevall in Hanoi on March 12. Speaking highly of the effective cooperation between Vietnam and Finland in the areas of circular economic development, environmental protection and clean energy, Ha said Vietnam is now a partner of the European Union (EU) and G7 countries to deliver on the net-zero commitment and the Just Energy Transition Partnership (JETP). Regarding the flexible power project of Wartsila Corporation, he asked the group to have the full consideration of the expenditure of infrastructure investment, gas purchase, power generation from renewable energy, transmission system, among others, making the project suitable to the Vietnamese market. He also informed the guests of Vietnam's policies of encouraging and attracting foreign investors to off-shore wind power development, direct power purchase, renewable energy equipment manufacturing, and waste-to-energy projects. Ambassador Keijo Novaron, for his part, said Vietnam and Finland have worked together to promote sustainable development by cooperating in the fields of clean water supply, environmental hygiene, innovation, and afforestation. The two countries have exchanged technologies and knowledge in the areas requiring state-of-the-art technologies that they are interested in, he added. Meanwhile, Hakan Agnevall said the corporation and its Vietnamese partner are working to carry out the first flexible power project in Vietnam./. Source: Vietnam News Agency

Hanoi: Minister of Finance Ho Duc Phoc chaired an investment promotion conference themed 'Vietnam - Investment Destination' in Tokyo on March 12, which drew representatives from leading Vietnamese and Japanese financial institutions, banks, life insurance corporations, investment funds, and securities companies. Addressing the event, Phoc said that Japan has become a leading economic partner of Vietnam, and Vietnam has been an important partner of Japan in Southeast Asia. He said he hopes the conference will provide more cooperation ideas for businesses of the two sides, thus deepening their relations and contributing to promoting the Vietnam-Japan ties. Briefing participants on the development of the securities market of Vietnam, the official said that the market saw good recovery in 2023 with increasingly completed structure. The Vietnam stock market has remained a bright spot in attracting domestic and foreign investors, and is an effective and important capital channel for the economy, he said, stress ing that upgrading Vietnam's stock market from a frontier market into an emerging market is one of the major goals that the Vietnamese Government is aiming for. The goal has been included in the project to restructure the stock and insurance markets until 2020 with a vision to 2025 and the strategy for stock market development until 2030, he noted. At the review period in September 2023, FTSE Russell kept Vietnam on the watch list for upgrading from a frontier market to a secondary emerging market and recognised the reaffirmation of commitment of leaders of Vietnam's stock market management agencies in upgrading the market. The Ministry of Finance and the State Securities Commission have conducted many activities to cooperate with foreign partners and exchange information with relevant parties to attract foreign investment and remove obstacles facing investors while investing in the Vietnamese stock market, stated Phoc. The minister affirmed that Vietnam will drastically implement market development solut ions, including perfecting the legal framework, speeding up digital transformation, and strengthening inspection to ensure a safe and transparent stock market. At the event, companies that have listed in the Vietnamese stock market highlighted investment opportunities in the Vietnamese stock market, as well as the potential for green finance development and their capital demand and cooperation needs. Takafumi Oue, head of the representative office of Daiwa Securities in Vietnam, which has been present in Vietnam for 16 years, said that the Vietnamese stock market is welcomed by Japanese investors and affirmed that Daiwa will expand its operation in Vietnam in the coming time, creating opportunities for Japanese businesses to invest in Vietnam. Japanese investors at the event showed their interest in the Vietnamese market and raised many questions on policies to develop and upgrade the market as well as attract new capital inflows. Their questions were answered by Chairwoman of the State Securities Commissi on Vu Thi Chan Phuong./. Source: Vietnam News Agency

Hanoi: Minister of Finance Ho Duc Phoc chaired an investment promotion conference themed 'Vietnam - Investment Destination' in Tokyo on March 12, which drew representatives from leading Vietnamese and Japanese financial institutions, banks, life insurance corporations, investment funds, and securities companies. Addressing the event, Phoc said that Japan has become a leading economic partner of Vietnam, and Vietnam has been an important partner of Japan in Southeast Asia. He said he hopes the conference will provide more cooperation ideas for businesses of the two sides, thus deepening their relations and contributing to promoting the Vietnam-Japan ties. Briefing participants on the development of the securities market of Vietnam, the official said that the market saw good recovery in 2023 with increasingly completed structure. The Vietnam stock market has remained a bright spot in attracting domestic and foreign investors, and is an effective and important capital channel for the economy, he said, stress ing that upgrading Vietnam's stock market from a frontier market into an emerging market is one of the major goals that the Vietnamese Government is aiming for. The goal has been included in the project to restructure the stock and insurance markets until 2020 with a vision to 2025 and the strategy for stock market development until 2030, he noted. At the review period in September 2023, FTSE Russell kept Vietnam on the watch list for upgrading from a frontier market to a secondary emerging market and recognised the reaffirmation of commitment of leaders of Vietnam's stock market management agencies in upgrading the market. The Ministry of Finance and the State Securities Commission have conducted many activities to cooperate with foreign partners and exchange information with relevant parties to attract foreign investment and remove obstacles facing investors while investing in the Vietnamese stock market, stated Phoc. The minister affirmed that Vietnam will drastically implement market development solut ions, including perfecting the legal framework, speeding up digital transformation, and strengthening inspection to ensure a safe and transparent stock market. At the event, companies that have listed in the Vietnamese stock market highlighted investment opportunities in the Vietnamese stock market, as well as the potential for green finance development and their capital demand and cooperation needs. Takafumi Oue, head of the representative office of Daiwa Securities in Vietnam, which has been present in Vietnam for 16 years, said that the Vietnamese stock market is welcomed by Japanese investors and affirmed that Daiwa will expand its operation in Vietnam in the coming time, creating opportunities for Japanese businesses to invest in Vietnam. Japanese investors at the event showed their interest in the Vietnamese market and raised many questions on policies to develop and upgrade the market as well as attract new capital inflows. Their questions were answered by Chairwoman of the State Securities Commissi on Vu Thi Chan Phuong./. Source: Vietnam News Agency

HCM City: Compared to three years ago, domestic investors outperformed on the merger and acquisition (M and A) market, but the most valuable deals still belonged to foreign investors, heard a conference on M and A trends in Ho Chi Minh City on March 12. The event was organised by the Business Association of High-Quality Vietnamese Products in coordination with relevant units. According to the Vietnam M and A Transformation report by KPMG, the total value of M and A transactions in Vietnam reached 4.4 billion USD in the first ten months of 2023, involving over 260 deals. The average deal value stood at 54.5 million USD. Nguyen Tuan Anh, a lecturer at RMIT University Vietnam, Saigon South Campus, said consumer goods and non-essential goods among the potential industries in Vietnam's M and A market. Investors will target businesses with stable and long-term product investment strategies including agriculture and food with the basic foundation of the economy - food production and distribution, he added. To cr eate an open environment for the M and A market and attract foreign investments, experts recommended that it is necessary to promulgate more favourable policies for divestment activities, along with shortening the duration for a M and A deal. It should be noted that environmental, social, governance (ESG) trends will increase and become one of the key factors driving M and A deals. Statistics showed that every year, at least two out of five deals require ESG during the appraisal process. Regarding the M and A trend, Huynh Thanh Binh Minh, Director of TAEL Partners Investment Fund in Vietnam, pointed out that completing a capital call and carrying out an M and A deal involve the engagement of many units. Businesses need to proactively evaluate the company's strengths and build a management strategy that has the ability to attract capital, she said, adding that it is necessary for them to restructure corporate governance activities, business strategies, market orientations and brand building. With such favou rable conditions as signing many free trade agreements, a large population and stable geopolitics, Vietnam is a potential M and A market. However, insiders said Vietnam must have rational policies and mechanisms to attract capital in various fields through M and A deals as the capital flows into Southeast Asian countries are the same./. Source: Vietnam News Agency

HCM City: Compared to three years ago, domestic investors outperformed on the merger and acquisition (M and A) market, but the most valuable deals still belonged to foreign investors, heard a conference on M and A trends in Ho Chi Minh City on March 12. The event was organised by the Business Association of High-Quality Vietnamese Products in coordination with relevant units. According to the Vietnam M and A Transformation report by KPMG, the total value of M and A transactions in Vietnam reached 4.4 billion USD in the first ten months of 2023, involving over 260 deals. The average deal value stood at 54.5 million USD. Nguyen Tuan Anh, a lecturer at RMIT University Vietnam, Saigon South Campus, said consumer goods and non-essential goods among the potential industries in Vietnam's M and A market. Investors will target businesses with stable and long-term product investment strategies including agriculture and food with the basic foundation of the economy - food production and distribution, he added. To cr eate an open environment for the M and A market and attract foreign investments, experts recommended that it is necessary to promulgate more favourable policies for divestment activities, along with shortening the duration for a M and A deal. It should be noted that environmental, social, governance (ESG) trends will increase and become one of the key factors driving M and A deals. Statistics showed that every year, at least two out of five deals require ESG during the appraisal process. Regarding the M and A trend, Huynh Thanh Binh Minh, Director of TAEL Partners Investment Fund in Vietnam, pointed out that completing a capital call and carrying out an M and A deal involve the engagement of many units. Businesses need to proactively evaluate the company's strengths and build a management strategy that has the ability to attract capital, she said, adding that it is necessary for them to restructure corporate governance activities, business strategies, market orientations and brand building. With such favou rable conditions as signing many free trade agreements, a large population and stable geopolitics, Vietnam is a potential M and A market. However, insiders said Vietnam must have rational policies and mechanisms to attract capital in various fields through M and A deals as the capital flows into Southeast Asian countries are the same./. Source: Vietnam News Agency

Hanoi: National flag carrier Vietnam Airlines will begin its direct services from Hanoi and Ho Chi Minh City to Munich, one of the largest cities in Germany, from October this year. The non-stop flights on the Hanoi-Munich route will be performed twice a week, departing from Hanoi on Fridays and Sundays and from Munich on Mondays and Saturdays. Meanwhile, there is one weekly flight on the Ho Chi Minh City-Munich route, with the plane departing from the Vietnamese city on Mondays and returning on Tuesdays. Vietnam Airlines will add one more flight to the route from December. The carrier now has four direct routes from Hanoi and Ho Chi Minh City to Germany's Frankfurt and Munich. Wide-body Boeing 787 aircraft are used for the services. Tickets to Munich are now available on Vietnam Airlines' website, mobile app, and official ticket offices and agents nationwide./. Source: Vietnam News Agency

Hanoi: National flag carrier Vietnam Airlines will begin its direct services from Hanoi and Ho Chi Minh City to Munich, one of the largest cities in Germany, from October this year. The non-stop flights on the Hanoi-Munich route will be performed twice a week, departing from Hanoi on Fridays and Sundays and from Munich on Mondays and Saturdays. Meanwhile, there is one weekly flight on the Ho Chi Minh City-Munich route, with the plane departing from the Vietnamese city on Mondays and returning on Tuesdays. Vietnam Airlines will add one more flight to the route from December. The carrier now has four direct routes from Hanoi and Ho Chi Minh City to Germany's Frankfurt and Munich. Wide-body Boeing 787 aircraft are used for the services. Tickets to Munich are now available on Vietnam Airlines' website, mobile app, and official ticket offices and agents nationwide./. Source: Vietnam News Agency