Vietnam
Vietinbank inks loan pact with 8 foreign banks
The Vietnam Joint Stock Commercial Bank of Industry and Trade (Vietinbank) signed a syndicated loan agreement worth US$100 million with eight foreign financial institutions.

The Vietnam Joint Stock Commercial Bank of Industry and Trade (Vietinbank) signed a syndicated loan agreement worth US$100 million with eight foreign financial institutions.
The institutions are Deutsche Bank AG – Singapore branch, Commerzbank AG – Luxembourg branch, Erste Group Bank AG, E.SUN Commercial Bank Ltd, CTBC Bank Co Ltd Singapore, First Commercial Bank – Overseas branch, State Bank of India-Singapore and Taishin International Bank.
The signing of the agreement has not only asserted the prestige of Vietinbank on the international financial market but also reflected the confidence of investors, as well as international financial institutions, Vietinbank Deputy General Director Tran Minh Binh said.
With this $100 million, Vietinbank pledges to better serve the demand for capital of Vietnamese enterprises, he added.
CIAS to launch IPO on July 12
Cam Ranh International Airport Service Joint Stock Company (CIAS) will offer over 1.4 million shares as part of the company’s initial public offering (IPO) on July 12.
The shares will be auctioned on the Ha Noi Stock Exchange (HNX) at the starting price of VND30,000 (US$1.3) each.
Formerly known as Cam Ranh Aviation Trading Joint Stock Company, CIAS was established in 2009 with chartered capital of VND10 billion. In 2016, CIAS increased its chartered capital to VND60 billion.
The company provides services for travelers at the Cam Ranh International Airport in the central coastal province of Khanh Hoa, such as restaurants, catering services, business class lounges and souvenir shops.
This year, CIAS has set a target of VND371.3 billion in revenue, VND35.5 billion in post-tax profit and 35 per cent dividend payment. In the first quarter of 2017, CIAS earned VND101.9 billion in revenue and VND12 billion in post-tax profit.
Tuy Hoa sugar factory to enhance production capacity
Authorities of the central province of Phu Yen have agreed to the Tuy Hoa Sugarcane and Sugar JSC’s plan to raise production capacity.
The company will enhance its capacity from 2,300 tonnes per day to 3,200 tonnes per day starting from the 2017-18 crop.
Tran Ngoc Hieu, chairman of the board of directors, said the company would invest more than 209 billion VND (9.17…
Vietnam
Foreign capital still heads to Vietnam
As many as 798 projects added a combined over 5.11 billion USD to their investment capital, down 23 percent year-on-year in project number but up 6.8 percent in value.

Hanoi (VNA) – The total amount of foreign investment poured into Vietnam this year to September 20 reached 21.2 billion USD, equivalent to 81.8 percent of the same period last year, reported the Ministry of Planning and Investment.
(more…)Trade
Why Vietnam Has Become a Promising Alternative for US Businesses in Asia
Vietnam Briefing discusses trends in the Vietnam-US relationship, growing economic ties, and how US businesses can leverage and benefit from moving their production to Vietnam.

Following four decades since the end of the Vietnam War, Vietnam’s relationship with the US has changed significantly.
(more…)Cambodia
CLMV’s economic growth crashes to two-decade low due to COVID-19
The COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in two decades, the CLMV economies could grow at 3.4 percent this year
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