AGS（AGS JOINT STOCK COMPANY）

Japan’s Creed Group, a real estate firm specialising in principal investment and property development, signed a 200 million USD contract on July 26 with An Gia Investment and officially becoming a player in Ho Chi Minh City’s property market.  Under the contract, the Creed Group will purchase shares of An Gia and in the company’s housing projects with the aim to provide “Japan quality” houses within the city.  An Gia Investment CEO Nguyen Ba Sang said the contract will offer the company a strong financial source to implement real estate projects.  An Gia plans to build 2,000 superior apartments each year towards having 10,000 units by 2020 with a total…

The Republic of Korea (RoK) will provide a 500,000 USD aid package for the Mekong Delta city of Can Tho to boost its hi-tech agriculture.  The capital will be used to build infrastructure and purchase modern machinery and equipment.  The announcement was made during a meeting between local authorities and a delegation of Korean economic consultants led by Hak Min-kim. Three companies from the RoK are set to invest in Can Tho, including YouCel major in bio-cellulose manufacturing, Nexgen Biogen specialised in canola extracting for cooking oil and cosmetics, and Nano Bio One operating in bio-nano technologies. At the meeting, Chairman of the municipal People’s Committee Le Hung Dung expressed…

The Japan International Cooperation Agency (JICA) has asked municipal authorities in Ho Chi Minh City for permission to take part in the Xuyen Tam Canal upgrade project, worth over 5.1 trillion VND (around 234.1 million USD), in Binh Thanh and Go Vap districts, Hanoi Moi Newspaper reported on July 17.  The project involves dredging the 6.21km main section of the Xuyen Tam Canal, which runs from Nhieu Loc-Thi Nghe Canal to Vam Thuat River, as well as dredging three other subsections, developing transport infrastructure and upgrading urban residential areas along the canal in Binh Thanh and Go Vap districts.  JICA proposed to invest 3.5 trillion VND (approximately 160.5 million USD)…

Deputy Prime Minister Hoang Trung Hai received Hajime Furuta, Japan’s Gifu prefecture governor, on July 14 during Furuta’s working visit to Vietnam.  At the meeting, Hai confirmed Vietnam treasures the relationship with Japan and considers deepening the comprehensive friendship and cooperation with Japan as one of its top external policy priorities.  The Deputy PM recommended the Gifu prefecture encourage its enterprises to invest in agriculture and the support industry.  The Deputy PM also thanked Furuta for his active role in promoting ties between the two countries.  Governor Furuta hoped the Vietnamese Government would create more favourable conditions to facilitate contact and cooperation between Gifu and Vietnamese companies.  There are currently…

VietNamNet Bridge – US investors are interested in at least four areas in Vietnam, said Mr. Pham Viet Muon, former Vice Chair of the Government Office, an organizer of Vietnam’s investment promotion conference in the US on July 1-5. http://english.vietnamnet.vn/fms/business/135793/what-do-us-investors-want-in-vietnam-.html(.vietnamnet.vn 2015年7月14 日)

The State Treasury of Vietnam has announced that it will issue 20-year Government bonds for the first time, between July 29 and December 31. According to a notice released by the State Treasury on June 30, the bonds will have a face value of 100,000 VND (4.6 USD) each. It is estimated that bonds worth 6-7 trillion VND (275-321 USD million) will be issued during the period. Those interested in the 20-year bond can register for direct purchases at the agency. The bonds will be issued the day the State Treasury gets money from the buyers. The Ministry of Finance and investors will negotiate the bond coupons at the time…

Over 1,100 new businesses have been set up so far this year with a total capital of 4.1 trillion VND (187.9 million USD) in the southern province of Dong Nai. Another 220 enterprise increased their registered capital to a combined 2.2 trillion VND, according to the provincial Department of Planning and Investment. The total new registered capital of 6.3 trillion VND represents 70 percent of the yearly target, the department said, adding that the businesses generated more jobs for people, contributing to socio-economic development. In the period, 60 businesses submitted documents to dissolve, a 66-percent increase from a year ago while 240 branches and offices submitted documents to stop or…

Vietnam’s gross domestic product (GDP) growth in the second quarter of this year reached a five year record, hitting 6.44 percent, reported Minister of Planning and Investment Bui Quang Vinh at the Government’s monthly meeting on June 29.  The result brought the country’s GDP growth for the first half of this year to 6.28 percent, much higher than the same period five years ago, he said.  According to the minister, the high GDP growth in the second quarter and the first six months of this year showed a economic recovery and development trend despite difficulties.  He revealed that the agro-forestry-fishery sector rose 2.36 percent, while industry-construction grew 9.09 percent and…

As of June 20, Japan had invested 37.7 billion USD in 2,661 projects in Vietnam, statistics from the Foreign Investment Department show. Of this the manufacturing/processing sector accounted for 31.3 billion USD and 1,357 projects. An amount of 1.66 billion USD has been invested in the property sector. Japanese investors have a presence in 49 of the country’s 63 cities and provinces. Thanh Hoa is the biggest beneficiary with 9.68 billion USD in 10 projects, accounting for more than a quarter of all Japanese investments. Hanoi is second with 4.1 billion USD in 661 projects, and Binh Duong third with 3.85 billion USD in 248 projects. The biggest Japanese projects…