Business
Heineken plans to invest $500mn more in Vietnam
Many Dutch investors are interested in investing in Vietnam in various fields, with Heineken committed to pouring an additional US$500 million into the country in the coming time.
Vietnamese Prime Minister Pham Minh Chinh had a working session with Amsterdam Mayor Femke Halsema and met the president of the Confederation of Netherlands’ Industry and Employers as well as CEO of Heineken on Sunday afternoon (local time), within the framework of his official visit to the Netherlands.
During his conversation with Mayor Halsema, PM Chinh said his visit to the Netherlands is aimed at elevating the relations between the two countries, including cooperation with Amsterdam, especially in the context that the two nations will celebrate 50 years of diplomatic ties in 2023.
He suggested that Amsterdam authorities promote cooperation with localities of Vietnam, especially with Hanoi and Ho Chi Minh City, in fields such as investment, environmental protection, circular economy, urban planning, people-to-people exchange, and tourism.
Mayor Halsema believed that PM Chinh’s visit would open a more effective development period for the relations between the two countries as well as between Amsterdam and Vietnamese localities.
Amsterdam and Hanoi have partnered in many practical cooperation projects in recent times, she said, adding that the Dutch city wishes to expand cooperation with the Vietnamese capital in energy conversion, waste and urban flooding treatment, and urban planning toward smart and sustainable development.
At a working session with president of the Confederation of Netherlands’ Industry and Employers (VNO-NCW) Ingrid Thijssen, PM Chinh said the Netherlands is now the biggest EU investor in Vietnam, ranking eighth out of 141 countries and territories investing in the country with 409 valid projects worth $13.7 billion.
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| Vietnamese Prime Minister Pham Minh Chinh meets CEO of Heineken N.V. Dolf van den Brink in the Netherlands, December 11, 2022. Photo: Vietnam News Agency |
He suggested the VNO-NCW continue serving as a bridge for Dutch firms to invest in Vietnam, especially in hi-tech, innovation, digital transformation, green and clean energy, sustainable agriculture, infrastructure, and logistics while helping Vietnamese companies join regional and global supply chains.
Thijssen praised Vietnam’s efforts to improve the business environment and proposed enhancing economic, trade, and investment ties between the Netherlands and Vietnam, especially in logistics, hi-tech agriculture, food, and seaports.
Receiving CEO of Heineken N.V. Dolf van den Brink while visiting Heineken Global headquarters in Amsterdam, the Vietnamese PM lauded the effective operations of the Heineken-SATRA joint venture, one of the first foreign-invested firms in Vietnam in beer production and distribution.
The brewer has to date invested $1 billion in Vietnam and plans to pour an additional $500 million into the country, said the Heineken executive.
Chinh asked Heineken to continue using modern and sustainable technology while doing business in Vietnam to contribute to local social welfare and environmental protection.
The Vietnamese government will partner with and assist Heineken in expanding its operations, the leader said.
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Many Dutch investors are interested in investing in Vietnam in various fields, with Heineken committed to pouring an additional US$500 million into the country in the coming time.
Vietnamese Prime Minister Pham Minh Chinh had a working session with Amsterdam Mayor Femke Halsema and met the president of the Confederation of Netherlands’ Industry and Employers as well as CEO of Heineken on Sunday afternoon (local time), within the framework of his official visit to the Netherlands.
During his conversation with Mayor Halsema, PM Chinh said his visit to the Netherlands is aimed at elevating the relations between the two countries, including cooperation with Amsterdam, especially in the context that the two nations will celebrate 50 years of diplomatic ties in 2023.
He suggested that Amsterdam authorities promote cooperation with localities of Vietnam, especially with Hanoi and Ho Chi Minh City, in fields such as investment, environmental protection, circular economy, urban planning, people-to-people exchange, and tourism.
Mayor Halsema believed that PM Chinh’s visit would open a more effective development period for the relations between the two countries as well as between Amsterdam and Vietnamese localities.
Amsterdam and Hanoi have partnered in many practical cooperation projects in recent times, she said, adding that the Dutch city wishes to expand cooperation with the Vietnamese capital in energy conversion, waste and urban flooding treatment, and urban planning toward smart and sustainable development.
At a working session with president of the Confederation of Netherlands’ Industry and Employers (VNO-NCW) Ingrid Thijssen, PM Chinh said the Netherlands is now the biggest EU investor in Vietnam, ranking eighth out of 141 countries and territories investing in the country with 409 valid projects worth $13.7 billion.
|
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| Vietnamese Prime Minister Pham Minh Chinh meets CEO of Heineken N.V. Dolf van den Brink in the Netherlands, December 11, 2022. Photo: Vietnam News Agency |
He suggested the VNO-NCW continue serving as a bridge for Dutch firms to invest in Vietnam, especially in hi-tech, innovation, digital transformation, green and clean energy, sustainable agriculture, infrastructure, and logistics while helping Vietnamese companies join regional and global supply chains.
Thijssen praised Vietnam’s efforts to improve the business environment and proposed enhancing economic, trade, and investment ties between the Netherlands and Vietnam, especially in logistics, hi-tech agriculture, food, and seaports.
Receiving CEO of Heineken N.V. Dolf van den Brink while visiting Heineken Global headquarters in Amsterdam, the Vietnamese PM lauded the effective operations of the Heineken-SATRA joint venture, one of the first foreign-invested firms in Vietnam in beer production and distribution.
The brewer has to date invested $1 billion in Vietnam and plans to pour an additional $500 million into the country, said the Heineken executive.
Chinh asked Heineken to continue using modern and sustainable technology while doing business in Vietnam to contribute to local social welfare and environmental protection.
The Vietnamese government will partner with and assist Heineken in expanding its operations, the leader said.
Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!
Source: https://tuoitrenews.vn/news/business/20221212/heineken-plans-to-invest-500mn-more-in-vietnam/70442.html
Business
PM orders close coordination to remove obstables to property market
He asked ministries, agencies and People’s Committees of provinces and centrally-run cities to strictly follow the Government’s resolution dated March 11, 2023 on several measures to solve difficulties for and promote the safe, healthy and sustainable development of the market.
The Ministry of Construction (MoC), the Ministry of Finance (MoF), and the State Bank of Vietnam (SBV) must coordinate closely with each other and with relevant agencies to help businesses overcome difficulties and make the market revive.
Real estate enterprises must adjust the product structure and market segments as well as offer more reasonable prices; pay special attention to the development of social housing and houses for workers that are suitable to people’s income. Competent authorities need to review housing and real estate projects to work with enterprises on measures to handle legal problems, especially in projects with corporate bonds and bank loans, and capital mobilised from buyers, the Government leader stressed.
He also urged the MoC to soon complete a project on building at least one million social housing apartments for low-income earners and workers in industrial parks in the 2021-2030 period.
The MoF was asked to carry out harmonious, reasonable and effective measures to support enterprises to restructure bond debts, interest rates, payment terms and conditions in accordance with regulations.
PM Chinh also urged the central bank to soon implement the credit programme worth around 120 trillion VND (5.1 billion USD) to assist commercial banks in providing perferential loans for investors and buyers of projects building social housing and houses for workers, and reconstructing old apartment buildings.
Local People’s Committees were required to soon approve master plans, as well as land use plans and housing development plans and programmes for five years and annually; and organise meetings with each enterprise to help them deal with difficulties.
Source: Nhân Dân
Source: https://e.nhipcaudautu.vn/real-estate/pm-orders-close-coordination-to-remove-obstables-to-property-market-3351578/
Business
Masan Group draws down first tranche of its $650 mln syndicated loan
The Vietnamese conglomerate aims to fully utilize the 2023 Syndicated Loan via a greenshoe option of $275 million later in the year. The transaction was arranged and underwritten by BNP Paribas, Credit Suisse, HSBC, Standard Chartered Bank, and United Overseas Bank.
Despite recent volatility in the global banking market, Masan was able to fully draw down the underwritten portion of the 2023 Syndicated Loan, ensuring a healthy financial profile. The loan is priced at 3.5% over the U.S Dollar Secured Overnight Financing Rate, or approximately 8.0% per annum.
With a 5-year tenor, the 2023 Syndicated Loan will extend Masan’s debt maturity profile and strengthen Masan’s liquidity ratios. As interest rates decline and the capital market stabilizes, management will continue to optimize Masan’s balance sheet, reduce interest expense, and deleverage via strategic corporate actions.
In a challenging macro environment, the ability to generate stable cash flows from the manufacturing and retailing consumer staple products (such as groceries, instant noodles, seasonings, etc.) businesses and proven track record of accessing multiple capital markets will allow the Company to win market share and invest in future growth.
With its cash position, Masan is well positioned to continue investing in new innovations as well as expanding the consumer-retail platform while maintaining a healthy balance sheet.
Source: https://e.nhipcaudautu.vn/companies/masan-group-draws-down-first-tranche-of-its-650-mln-syndicated-loan-3351607/
Vietnam – Singapore Industrial Park J.V. Co. (VSIP) on Saturday signed memoranda of understanding (MOU) with nine Vietnamese provinces to develop smart and sustainable industrial parks (IPs).
VSIP is a joint venture between Becamex IDC Corporation, under the People’s Committee of Binh Duong, just outside Ho Chi Minh City, and Sembcorp Development Ltd., a wholly-owned subsidiary of Singapore’s Sembcorp Industries, a leading energy and urban solution provider.
The signing ceremony was part of the ‘Binh Duong: Initiation – Connection – New Development’ program, attended by Deputy Prime Minister Le Minh Khai, leaders of ministries, agencies and localities, and hundreds of investors.
It was also an expansion of a broader MOU between Becamex and Sembcorp Development inked during Vietnamese Prime Minister Pham Minh Chinh’s state visit to Singapore early last month.
Smart and sustainable IPs will be considered in nine provinces, including Binh Phuoc, Tay Ninh, Binh Thuan, Khanh Hoa, Thua Thien-Hue, Ha Tinh, Thanh Hoa, Thai Binh, and Nam Dinh, based on the VSIP model in Binh Duong.
Deputy PM Khai hailed the green industrial park model, the association of industrial development with urban areas and services, and the synchronicity of traffic and social infrastructure in Binh Duong Province.
This helps Binh Duong, together with Ho Chi Minh City and Dong Nai and Ba Ria – Vung Tau Provinces, become key pillars of the southern key economic zone and contribute significantly to the state budget and Vietnam’s development.
The deputy prime minister asked the nine provinces to learn from Binh Duong’s experience in developing Vietnam-Singapore Industrial Parks in the coming time, especially in site clearance to prevent complaints and lawsuits and ensure benefits for enterprises, the state, and local residents.
Vo Van Minh, chairman of the Binh Duong People’s Committee, said the province would cooperate closely with the nine provinces and accompany investors and enterprises to develop industrial park projects soon.
They will jointly mull over the conversion from IPs in association with urban areas and services to smart service urban areas, enhance the application of science and technology to increase the added values of products, and bring practical benefits to enterprises and residents.
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| Leaders of Binh Duong Province and nine other provinces and Singaporean partners sign memoranda of understanding to develop more VSIPs in Vietnam. Photo: Ba Son / Tuoi Tre |
Earlier on the same day, Deputy PM Khai and his governmental delegation visited the VSIP 1 in Thuan An City, Binh Duong Province. This is the first VSIP which was developed in 1996 and covers an area of 500 hectares.
VSIP last month obtained approval from the Vietnamese government to set up its second IP in the north-central province of Nghe An, or its 13th IP in Vietnam.
Among the 12 operating VSIPs, three are located in Binh Duong and the remaining facilities are in Hai Phong, Hai Duong, Bac Ninh, Quang Ngai, and Can Tho, among others.
These industrial parks, with a total area of more than 10,000 hectares, have attracted about US$18.4 billion in investment from 882 investors from 30 countries and territories, and created jobs for around 288,000 workers.
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| Vietnamese Deputy Prime Minister Le Minh Khai (first row, L) and delegates listen to an introduction on the first VSIP in Thuan An City, Binh Duong Province on March 25, 2023. Photo: Q.T. / Tuoi Tre |
The Binh Duong People’s Committee on Saturday also handed over investment certificates to enterprises.
In the year to March 15, the province attracted $437 million in foreign direct investment, raising the total foreign investment so far in the province to $39.7 billion, poured into nearly 4,100 projects.
The province also concluded cooperation agreements with large domestic firms, such as Deo Ca, Sungroup and FPT, to develop infrastructure, hospitality tourism, and digital transformation.
Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!
Vietnam – Singapore Industrial Park J.V. Co. (VSIP) on Saturday signed memoranda of understanding (MOU) with nine Vietnamese provinces to develop smart and sustainable industrial parks (IPs).
VSIP is a joint venture between Becamex IDC Corporation, under the People’s Committee of Binh Duong, just outside Ho Chi Minh City, and Sembcorp Development Ltd., a wholly-owned subsidiary of Singapore’s Sembcorp Industries, a leading energy and urban solution provider.
The signing ceremony was part of the ‘Binh Duong: Initiation – Connection – New Development’ program, attended by Deputy Prime Minister Le Minh Khai, leaders of ministries, agencies and localities, and hundreds of investors.
It was also an expansion of a broader MOU between Becamex and Sembcorp Development inked during Vietnamese Prime Minister Pham Minh Chinh’s state visit to Singapore early last month.
Smart and sustainable IPs will be considered in nine provinces, including Binh Phuoc, Tay Ninh, Binh Thuan, Khanh Hoa, Thua Thien-Hue, Ha Tinh, Thanh Hoa, Thai Binh, and Nam Dinh, based on the VSIP model in Binh Duong.
Deputy PM Khai hailed the green industrial park model, the association of industrial development with urban areas and services, and the synchronicity of traffic and social infrastructure in Binh Duong Province.
This helps Binh Duong, together with Ho Chi Minh City and Dong Nai and Ba Ria – Vung Tau Provinces, become key pillars of the southern key economic zone and contribute significantly to the state budget and Vietnam’s development.
The deputy prime minister asked the nine provinces to learn from Binh Duong’s experience in developing Vietnam-Singapore Industrial Parks in the coming time, especially in site clearance to prevent complaints and lawsuits and ensure benefits for enterprises, the state, and local residents.
Vo Van Minh, chairman of the Binh Duong People’s Committee, said the province would cooperate closely with the nine provinces and accompany investors and enterprises to develop industrial park projects soon.
They will jointly mull over the conversion from IPs in association with urban areas and services to smart service urban areas, enhance the application of science and technology to increase the added values of products, and bring practical benefits to enterprises and residents.
|
|
| Leaders of Binh Duong Province and nine other provinces and Singaporean partners sign memoranda of understanding to develop more VSIPs in Vietnam. Photo: Ba Son / Tuoi Tre |
Earlier on the same day, Deputy PM Khai and his governmental delegation visited the VSIP 1 in Thuan An City, Binh Duong Province. This is the first VSIP which was developed in 1996 and covers an area of 500 hectares.
VSIP last month obtained approval from the Vietnamese government to set up its second IP in the north-central province of Nghe An, or its 13th IP in Vietnam.
Among the 12 operating VSIPs, three are located in Binh Duong and the remaining facilities are in Hai Phong, Hai Duong, Bac Ninh, Quang Ngai, and Can Tho, among others.
These industrial parks, with a total area of more than 10,000 hectares, have attracted about US$18.4 billion in investment from 882 investors from 30 countries and territories, and created jobs for around 288,000 workers.
|
|
| Vietnamese Deputy Prime Minister Le Minh Khai (first row, L) and delegates listen to an introduction on the first VSIP in Thuan An City, Binh Duong Province on March 25, 2023. Photo: Q.T. / Tuoi Tre |
The Binh Duong People’s Committee on Saturday also handed over investment certificates to enterprises.
In the year to March 15, the province attracted $437 million in foreign direct investment, raising the total foreign investment so far in the province to $39.7 billion, poured into nearly 4,100 projects.
The province also concluded cooperation agreements with large domestic firms, such as Deo Ca, Sungroup and FPT, to develop infrastructure, hospitality tourism, and digital transformation.
Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!
Source: https://tuoitrenews.vn/news/business/20230327/vsip-joins-hands-with-9-vietnamese-provinces-to-develop-smart-ips/72269.html
PM orders close coordination to remove obstables to property market
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