Samsung Invests Aggressively in Bac Ninh Province

With the favorable and open business environment, Vietnam has committed to be the attractive investment destination for multinational enterprises to come and set up business in Vietnam.

Samsung wants to raise the total investment in Bac Ninh to 6.5 billion USD and transferred the model from high-tech project to large-scale project…

Bac Ninh Provincial People’s Committee has just sent an official letter to the Prime Minister on supporting Samsung Display Co., Ltd Vietnam (SDV) in the process of project expansion in Bac Ninh province.

According to the Provincial People’s Committee of Bac Ninh, so far SDV has raised investment capital to 4 billion USD. Reportedly, SDV’s total revenue in 2015 was 2.7 billion USD, in which exports reached 2.5 billion USD. Accumulated to October 2016, SDV has revenue of 5.9 billion USD.

Project disbursement schedule of Samsung by the end of 2016 is estimated at 2.5 billion USD. Expected in 2017, Samsung will disburse the registered capital of 4 billion USD in Bac Ninh.

Bac Ninh confirmed that SDV has done on schedule and as planned when the entire Module 3 project when come into operation will be a prerequisite to attract more companies to serve SDV.

Notably, SDV has expressed their desire to invest an additional of 2.5 billion USD, disbursed in 5 years since 2018. Thereby, raising the total investment in Bac Ninh to 6.5 billion USD.

Recently, according to Mr. Hyun Woo Bang – Deputy General Director of Samsung Vietnam, in 2016, although the Company has to face with the problem of Samsung Galaxy Note 7, thanks to the support of the Government and Ministries in Vietnam, Samsung has overcome difficult period. In 2016, revenue of Samsung Vietnam reached 46.3 billion USD; exports reached 39.9 billion USD, increased by 9.9% compared to 2015.

Samsung accounted for 22.7% of export turnover nationwide, a slight increase compared to the rate of 20% of the previous year.

Reportedly, Bac Ninh is the province that attracting a lot of foreign investment projects in Vietnam. Moreover, Bac Ninh is the investment destination of 30 countries and territories around the world. Accumulated up to the present time, in the Industrial Zones in Bac Ninh province, 1,050 projects are licensed with a total investment of 13.1 billion USD. FDI sector has created 231,000 jobs.

ANT Consulting is here to assist you from the outset; providing corporate intelligence, risk advisory, management consulting services that assist market entrance, and ensure efficient business start-up operation.  Our services are as following:

• Advisory
• Market Entry
• Tax Advice
• Legal Advice

We strive to save your cost by guiding you towards economical solutions that comply with local legislation and procedures. We support you through early logistic solutions and carry you through as your business grows.  We aim to bridge the gap between international best practices and local cultures and assist foreign companies and organizations entering Vietnam market to overcome commercial and regulatory issues.

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Hong Kong Investors Explore Vietnam Infrastructure Projects

Infrastructure projects of Vietnam are explored by Hong Kong investors

Hong Kong investors are promoting investment in southern provinces in the areas such as infrastructure investment, waste water treatment, waste and also learn about set up company in Vietnam.

Recently, about 40 Hong Kong investors and experts in investment and infrastructure development sectors have visited Ho Chi Minh City. Sharing the purpose of this business trip, Mr Vincent HS Lo – Chairman of the Hong Kong Trade Development Council said that these investors are people who have a lot of experiences in the financial, consulting, architecture, energy, water and waste treatment, engineering and construction, law and accounting, transportation sectors…

Also according to Mr Vincent HS Lo, investors and businesses in Hong Kong are very interested in Vietnam infrastructure projects, especially the system of railway, road, airport and seaport.

Previously, during meetings with representatives of the Ministry of Transport in Hanoi, representatives of Hong Kong investors and businesses also expressed their interest in the North-South Expressway Project with a length of more than 1,300 km. A Hong Kong representative said that this project would help develop the strengths of a gateway to attract investment in large projects.

According to Hong Kong businesses, in addition to transport infrastructure, they are also interested in large-scale real estate projects in Vietnam. Mr Johnson Choi, Managing Director of Sunwah Group said that the company had many large investment projects in Vietnam, notably real estate projects. According to Mr Choi, among countries in Asia, Vietnam is considered as a potential country for real estate. Therefore, not only investing in projects in HCMC, Hong Kong businesses also pay attention to projects in Hanoi and the Central region.

According to the Ministry of Planning and Investment, as of the end of the first quarter of 2017, Hong Kong is the sixth largest investor in Vietnam with more than 1,200 projects and a total registered capital of more than 17.57 billion USD.

Hong Kong’s licensed projects in Vietnam are quickly implemented. For example, the project of Worldon Vietnam Co., Ltd in Dong Nam Industrial Zone (HCMC), after being licensed to increase capital by 140 million USD in 2016, has nearly completed the Fashion Design and Production Center for high quality knitwear.

Or project of Nam Phuong Textile Joint Venture Co., Ltd., with registered capital of 120 million USD in Viet Huong 2 Industrial Zone (Binh Duong), has made new moves in the project implementation after starting work at the end of 2014. The project is constructed on an area of 12 hectares, operating in the field of weaving fabric, phase I has capacity of 36 million meters of cloth per year, mainly for export…

In 2016, Vietnam is Hong Kong’s largest export market in ASEAN with a total export turnover of 9.25 billion USD. In addition, Vietnam is Hong Kong’s third largest trading partner in the ASEAN region with a total bilateral trade reached 16.2 billion USD.

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FDI Capital Flows into Vietnam Increased Rapidly

In the first 3 months of 2017, total foreign investment in Vietnam reached 7.71 billion USD, more than double the amount of 3.4 billion USD in the first two months and increases by 91.5% over the same period last year.

As announced by the Foreign Investment Agency (Ministry of Planning and Investment), as of March 20th 2017, the whole country has 493 new projects that have just been granted investment certificates with total registered capital of 2.9 billion USD, increases by 6.5% over the same period in 2016.

In addition, there are 223 projects registered to increase investment capital, with total registered capital increase of 3.94 billion USD, increase by 206.4% over the same period in 2016. Also, there are 1,077 capital contribution and share purchases transactions of foreign investors with total investment capital of 852.86 million USD, increases by 171.5% over the same period in 2016.

Thus, totally in the first quarter of 2017, the total newly registered, increased and contributed capital to buy shares are 7.71 billion USD, increases by 91.5% over the same period in 2016.

Looking at these numbers, we can see that foreign investment into Vietnam is increasing drastically. In the first two months of 2017, the figure was just 3.4 billion USD, after three months, the figure is more than double, reaches 7.71 billion USD.

It is not difficult to explain this strong acceleration. The fact is in March, there are many large scale projects are granted investment certificate. Among them, the most noticeable is the expansion project of Samsung Display in Bac Ninh, with additional capital of 2.5 billion USD.

Also in March, a number of other large-scale projects have received approvals for newly registration or capital increases from Vietnam authorities.

Notably, the factory project of Polytex Far Eastern Co., Ltd (Vietnam), invested by Taiwanese investors in Binh Duong, with the objective of producing polyester fiber products, has just adjusted for additional investment capital of 485.8 million USD; the Coca-Cola Beverages Vietnam project in Hanoi registers to increase its investment capital to 319.8 million USD.

Besides, the Vietnam Singapore III Industrial Park project in Binh Duong with total investment capital of 284.75 million USD; Tole Panel Manufacturing Factory project in Binh Phuoc with total investment capital of 269.54 million USD; the KVT-1 tire production project in Binh Duong of Kolon Industries Inc., with registered capital of 220 million USD…

It was not out of expectation, thanks to the billion USD project, Bac Ninh has become the most attracting foreign investment destination since the beginning of this year, with total registered capital of 2.61 billion USD, accounting for 33.86% of total investment in Vietnam.

Binh Duong ranks second with total registered capital of 1.39 million USD, accounting for 18.04% of total investment. Ho Chi Minh City ranks third with a total registered capital of nearly 600 million USD, accounting for 7.78% of total investment capital.

Also thanks to the billion USD project, Korea has returned to crown on the list of major investment partners in Vietnam in the past 3 months, with 3.74 billion USD. Singapore came in second with 910.8 million USD, while China was in third place with 823.6 million USD.

According to the Foreign Investment Agency, up to March 20th, it was estimated that FDI projects have disbursed 3.62 billion USD, increases by 3.4% over the same period in 2016.

ANT Consulting is here to assist you from the outset; providing corporate intelligence, risk advisory, management consulting services that assist market entrance, and ensure efficient business start-up operation.  Our services are as following:

• Advisory
• Market Entry
• Tax Advice
• Legal Advice

We strive to save your cost by guiding you towards economical solutions that comply with local legislation and procedures. We support you through early logistic solutions and carry you through as your business grows.  We aim to bridge the gap between international best practices and local cultures and assist foreign companies and organizations entering Vietnam market to overcome commercial and regulatory issues.

How ANT Consulting Could Help Your Business?

Please click here to learn more about ANT Consulting or contact our lawyers and consultants in Vietnam for advice via email ant@antconsult.vn or call our office at +84 28 3520 2779

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Japan Pouring Capital into Vietnam Real Estate Market

Vietnam real estate market has seen a growing funds poured into the real estate market through signning partnership agreement with Vietnam partners or direct foreig own investment in setting up company in Vietnam.

Since 2011, Tokyu Corp of Japan has already had cooperation agreements with Becamex IDC Corp to invest USD 1.2 billion to develop the urban area project of 71ha in Binh Duong new city.  Other real estate business as Thanh Dong has also signed cooperation with many Japanese investors to mobilize capital for investment in a range of real estate projects. Accordingly, Thanh Dong is negotiating with a private equity fund in Osaka to cooperate investment in 3 major projects of this company in Hai Duong. Besides, Thanh Dong has also reached agreement with Handa Global (Yokohama) on contributing capital to build a 5 star hotel complex in Nha Trang – Dien Khanh urban area and a sea villa complex in the urban area of trade, tourism and financial services in Nha Trang city center. The total committed value between Thanh Dong and Handa Global reach 200 million USD.

Earlier, Japanese investors are willing to invest in golden lands at Le Duan – Hai Ba Trung (District 1 – HCMC) to construct a building for the Japanese investors which are growing fast in numbers in Vietnam. In addition, Sumitomo Corporation is exploring the investment projects in Thu Thiem commercial and financial center in the area of 20ha.

In the segment of industrial real estate, industrial park in Dong Nai was developed by Donafood Vietnam and three Japanese partners: Sojitz Corporation, Daiwa House Co., Ltd and Kobelco Eco-Solution. With the 88% joint-venture cooperation, the Japanese companies and local partners will invest USD 100 million in this segment.  In HCM City, Vietnam – Japan industrial zone with an investment of USD 31 million has just been inaugurated phase 1.

In particular, the Mekong River Delta (MRD) is a new target of Japanese businesses, not only in the field of real estate but also logistics and seaports. Japanese investors are looking forward to be introduced by Can Tho’s authority agencies the position that they can invest in an industrial zone exclusively for Japanese businesses to invest in tourism, trade and services. It is reported that the Saporo Japan Corporation is also exploring opportunities to cooperate and invest in a golf course and ecological urban area in Can Tho and cooperative investment in some other areas of the group’s strengths in some provinces in the MRD.

Commenting about this trend, Japanese investors said that Vietnam’s economy continues to have the prospects and potential for development, and Vietnam will become an important destination to attract more business delegations and Japan’s leading investors in the coming years.  The according to Mr. Toshihiko, the chairman of Creed Group said: “This is just the first step in cooperation, if the real estate market of Vietnam developed well, we will pump hundreds of millions of USD to not only An Gia Investment, but also into many other partners”. He further said, Vietnam’s economy is integrating deeper into the world economy. The Vietnam government is interested to complete the negotiations of TPP agreement, which will open huge opportunities for the economy; attracting major international investors. Besides, Vietnam has young population, mainly concentrated in urban areas however modest housing fund will be huge growth opportunity for the real estate sector. Meanwhile, the law on land of Vietnam is becoming more transparent and open to foreigners to buy houses, create purchasing power and investment opportunities for domestic and foreign enterprises.

ANT Consulting is here to assist you from the outset; providing intelligence, information, management or support and administrative services that assist market entrance, and ensure efficient business start-up operation.  Our services are as following:

• Market Entry
• Tax Advice
• Legal Advice
• Outsourcing Services

We strive to save your cost by guiding you towards economical solutions that comply with local legislation and procedures. We support you through early logistic solutions and carry you through as your business grows.  We aim to bridge the gap between international best practices and local cultures and assist foreign companies and organizations entering Vietnam market to overcome commercial and regulatory issues.

We could be reached at email: ant@antconsult.vn or tel: +8428 3520 2779 .  To learn more about us, please visit www.antconsult.vn

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Vietnam Increases Ranking in The List of Global Competition

The Global Competitiveness Report 2017 – 2018 was announced on September 26th 2017, confirming that countries are improving in terms of health, education and technology.

The latest global competition list of the World Economic Forum shows a messy picture of Asia, while Vietnam and Indonesia jumped in rank, Japan and India slumped.

Vietnam jumped to 55th place, up 5 steps compared with last year and 20 steps compared with 5 years ago. Accordingly, Vietnam has made remarkable progress in terms of technology and labor market efficiency. Trade is also a key factor that help Vietnam increasing ranking. Specifically, Vietnam is ranking 7th in terms of import ratio against GDP and 11th in export ratio against GDP.

The withdrawal of the US from the TPP may have removed some future trade opportunities of Vietnam, but the report states that “Vietnam’s growth is expected to be sustained, thanks to strong exports activities”.

Meanwhile, Indonesia ranked 36th, up from the 41st position of last year. Other Asian countries that also increased in rank are: Malaysia (23rd); China (27th) and Thailand (32nd). The Philippines also rose one step to 56th.

Japan led the opposite direction: Ranked 9th after decrease ranking in two consecutive years. The world’s third-largest economy continues to grow well in areas such as infrastructure, health and education, but is struggling with macroeconomic environment due to massive public debt.

Although leaping two years ago, India dropped one step down to the 40th position. Singapore again dropped to 3rd position, behind the United States.

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US Investors Invest in Ho Chi Minh City

US investors poured capital into Ho Chi Minh City

Ho Chi Minh City (HCMC) is an exciting investment destination with total FDI capital reached 40 billion USD. With many advantages in economic development and business environment, foreign investors have been coming to set up business in Ho Chi Minh City.

Mr Dinh La Thang, Party Secretary of Ho Chi Minh City (HCMC) has met group of United States (US) investors led by Mr Howard Lutnick, Chairman and CEO of Cantor Fitzgerald Financial Group come to explore investment opportunities in HCMC.

Highly appreciated the US investors have chosen HCMC to invest in Financial Tower project, Mr Dinh La Thang committed that the city would create the most favorable conditions for US businesses as well as other international investors, bringing benefits to the enterprise and also the city.

At the same time, the city desires Cantor Fitzgerald Group and US investors will soon implement the Financial Tower project in Thu Thiem urban area, bringing Thu Thiem into a financial center in the region, attracting more investors and large financial corporations of the US and the world.

The city also believes that with the visit of US President Barack Obama to Vietnam, a new wave of investment from US will increase rapidly, especially when the Trans-Pacific Partnership (TPP) Agreement takes effect.

With its dynamic, HCMC is training human resources to be able to meet the needs of development and investment.

According to Cantor Fitzgerald Group, the reason for choosing Vietnam as investment destination was calculated very carefully, because Vietnam is an important destination for the circulation of financial flows in Southeast Asia in the coming time. Moreover, Ho Chi Minh City is a vibrant and dynamic place with strong entrepreneurship, especially among the young.

With great financial strength, the Cantor Fitzgerald Group wants to invest and along with HCMC to grow prosperously.

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Vietnam Supports Australian Enterprises Investing and Setting-up Business in Vietnam

During an official visit to Australia, in the morning of March 17th (local time), in Sydney, Prime Minister Nguyen Tan Dung and high-level delegation to the Government of Vietnam had the dialogue with the businesses of Vietnam and Australia’s on the development of Vietnam’s economy as well as the opportunities, prospects for cooperation between the two countries.

The dialogue of Prime Minister Nguyen Tan Dung has attracted the participation of hundreds of large enterprises of Vietnam and Australia in the areas of banking, finance, energy, oil and gas, mining.  Prime Minister Nguyen Tan Dung has directly answered many questions of the businesses, Australian investors relating to prospects, opportunities to promote and enhance the intrinsic comprehensive partnership between Vietnam and Australia.

Prime Minister Nguyen Tan Dung has generalized the development of Vietnam’s economy from an underdeveloped country with a closed economy and until now Vietnam has become a middle-income country with a dynamic economy, enter into the regional economy and the world’s.

Vietnam achieved GDP growth of nearly 6% in 2014. Until now, registered aboard direct investment capital is up to nearly $ 300 billion, with nearly 18,000 projects from more than 100 countries and territories. Currently, there are over 100 leading corporations investing and set-up company in Vietnam.

The Prime Minister stressed: “To attract more powerful, more efficient foreign investment, the Government of Vietnam will continue to fulfill its smooth operation and economic institutions in Vietnam market, compete equally between domestic firms and foreign firms as committed international integration of Vietnam.

Vietnam confirms continuing international economic integration deeper through the full implementation of its commitments in the WTO and bilateral free trade agreements as well as other multilateral ones. Currently we are implementing 8 free trade agreements and negotiations and will continue to expand the market, open market with other free trade agreements, especially the new generation FTA with high requirements to create competitive business environment in the ASEAN region and create a legal framework consistent with international business practice in the market of Vietnam … “

Prime Minister Nguyen Tan Dung also said that Vietnam is focusing on the three breakthrough strategies to facilitate the attraction of investment and development, business and promote economic development, which is perfect institutional market economy as well as investment in infrastructure development and training human resources, especially human resources quality.

Vietnam also continues to ensure political and social stability and protects the legitimate rights and legality of investors, including domestic and foreign; and continue to improve the rule of law, ensure and promote strong democratic liberties of the people, both economically and politically.

Prime Minister Nguyen Tan Dung has listened and directly answered many of the questions of businesses, Australian investors relating to prospects, opportunities to promote and strengthen comprehensive partnerships between Vietnam and Australia especially to promote cooperation in the field of competitive advantage, such as mining, energy, chemicals, agriculture, finance, banking, education and high quality services.

Government of Vietnam also supports Australian businesses involved in the process of restructuring the economy of Vietnam, especially in the strong field of Australia such as energy, telecommunications infrastructure, education – training, agricultural business and finance.

ANT Consulting is here to assist you from the outset; providing intelligence, information, management or support and administrative services that assist market entrance, and ensure efficient business start-up operation.  Our services are as following:

• Market Entry
• Tax Advice
• Legal Advice
• Outsourcing Services

We strive to save your cost by guiding you towards economical solutions that comply with local legislation and procedures. We support you through early logistic solutions and carry you through as your business grows.  We aim to bridge the gap between international best practices and local cultures and assist foreign companies and organizations entering Vietnam market to overcome commercial and regulatory issues.

We could be reached at email: ant@antconsult.vn or call +848 3520 2779 .  To learn more about us, please visit www.antconsult.vn

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