Singapore Enterprises Plan to Invest Three Projects in The Southeast Economic Zone

Mepcom Offshore and Marine Co., Ltd from Singapore has recently visited a number of locations in Southeast Economic Zone (Nghe An) to promote investment in this locality.

Accordingly, the location where investors are interested and expected to invest in building 3 projects, including: Dong Hoi Port; Quynh Lap Industrial Park and Thermal Power Plant belonging to Hoang Mai 1 Industrial Park; and Hoang Mai Town, Nghe An.

Representatives of Mepcom Offshore and Marine Co., Ltd, led by Mr. Philip Lim – Director of the company and the partner of the company visited Dong Hoi Port and the project area of Quynh Lap Thermal Power Plant to research and invest in some infrastructure projects in this locality.

According to representatives of investors, they care about the depth of Dong Hoi Port, and when deciding to invest, they will turn Dong Hoi Port into a specialized port, receive many different items: coal, cement, containers, liquefied gas…; therefore, attention should be paid to the depth of the port.

Moreover, the investor stated that in addition to Dong Hoi Port, the company also researched to invest in infrastructure of industrial zones, and Quynh Lap Thermal Power Plant aims to build high-tech industrial cluster, smart farms, biotechnology… In addition, the company also wants to implement a number of high-tech projects in agricultural and industrial production; renewable electrical energy project; wind and solar power; liquefied gas factory. It is expected that when the project comes into operation, this partner will create jobs for 1,600 local workers.

On behalf of Nghe An province, Vice Chairman of the Provincial People’s Committee also had a meeting with partners from Singapore and expressed his joy and commitment to always accompanying to complete the conversion procedure of a number of projects proposed by investors.

In the short term, there are 3 projects that can be implemented immediately: Dong Hoi Port Project, Dong Hoi Industrial Park project and renewable electrical energy project. For other projects, the province will ask the Government for comments.

Dong Hoi Port has been planned with a total land area of over 1,096 hectares (of which the area of land planning is 540.4 hectares; the area of water planning is 556.3 hectares). The demand for land use in the period of 2020 is 570 ha (in which the area of land planning is 221.9 ha, the area of water planning is 348.3 ha).

The Provincial People’s Committee assigned the Center for Investment Promotion to connect with the company to provide necessary information and documents on the mechanisms and policies to attract investment of the province to study and consult.

Readmore : http://www.antconsult.vn/news/singapore-enterprises-plan-to-invest-three-projects-in-the-southeast-economic-zone.html

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Set-up Branch Office in Vietnam

Foreign entity is allowed to set up branch office in Vietnam to conduct business activities according to the law.
The branch of a foreign business entity in Vietnam (referred as “The Branch”) means a subsidiary unit of the foreign business entity, established in accordance with the law of Vietnam in order to enter into contracts in Vietnam and conduct activities being the purchase and sale of goods and other commercial activities consistent with its license for establishment in accordance with the law of Vietnam and any international treaty to which the Socialist Republic of Vietnam is a member.

The Branch will need to apply and obtain the establishment license; and have a seal bearing the name of the Branch.

The Branch is permitted to conduct activities being the purchase and sale of goods and other commercial activities consistent with its license for establishment in accordance with the law of Vietnam and any international treaty to which the Socialist Republic of Vietnam is a member.

It should be noted that the liability of the Branch is the liability of the foreign entity.  The business activity of the Branch has to be consistent with the business activity of the foreign entity. The Branch has to has office address.

Therefore the investor should consider its investment strategy when setting up its Branch in Vietnam.

Readmore : http://www.antconsult.vn/services/set-up-branch-office-in-vietnam.html 

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Vietnam Solar Power Industry

Many investors are interested in solar power in Ninh Thuan, Binh Thuan, Bac Lieu and the market is very dynamic. According to General Electric Plan VII, the total installed capacity of solar power of Vietnam by 2030 will achieve 12GWp, so there will be nearly 12 billion USD pouring into this sector.

The lack of electricity price policies for renewable energy and solar energy are the main causes for the attraction of investment in this sector becomes less interesting.

However, presently there are many investors interested in solar power projects in Vietnam. The solar power investment market is very exciting and a lot of investors are very willing to pour capital into the sector.

Many projects of current investors are not only located in Ninh Thuan and Binh Thuan – 2 provinces that are attracting the most solar power projects, but also extending to Quang Ngai, Thua Thien Hue, Ha Tinh, Hau Giang, Bac Lieu…

According to the Clean Energy Association of Vietnam, currently the country has about 30 investors at home and abroad that are setting up new solar power projects with capacity of 20 MW to over 300 MW in some localities. Notably there are many foreign investors coming from South Korea, France, India… have registered to invest in some central provinces.

Not only foreign investors, domestic investors are also starting to research and invest in clean energy market. For example, Central Power Corporation has a solar power plant with capacity of 150 MW in Khanh Hoa; Vietnam Electricity Corporation is planning to research two projects in Dong Nai and Binh Thuan, Ninh Thuan.

Vietnam is a country with the potential of solar energy. The average solar energy density is 4.3 kWh/m2 and the average number of sunny days is around 2,000 hours/year.

In particular, from Da Nang to the southern, the potential of solar energy is very good, the radiant energy density is in the range of 4.5 to 5 kWh/m2; the average number of sunny days is 2,200 – 2,500 hours/year. Therefore, the application of solar power in these areas will be highly effective.

Readmore : https://www.antconsult.vn/news/vietnam-solar-power-industry.html

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Background Check Service in Vietnam

Vietnam is working on improving on the level of transparency. It is advisable that foreign investors take effort to learn about their partners before cooperating with them. In other words, it is important to understand an individual or enterprise before joining venture with them  in Vietnam so that  the investors may reduce the minimum risks that may occur as well as evaluating the possibility of cooperation in the future.

Despite the high risks of fraud, there are good opportunities in Vietnam. Namely, at the present, Vietnam has been strongly attracting direct investment capital from foreign investors. This leads to the demands of investigation as above – mentioned.

If the investors ignore this step of investigation, they may take heavy consequences because of their subjective. It may be a loss of money, time, effort and reputation.

Normally, most of the investors investing in Vietnam for the first time are using survey results from third parties, that is, the companies specializing in the investigation of market information.

Because, first, when investing in a whole new market, the investors do not understand clearly about the investment environment as well as the operating subjects in this new market. If the investors conduct the investigations themselves, the result may be inaccurate and not objective.

Second, the investors can save time as well as money to focus on other professional activities. With a team of experienced professionals, the companies specializing in this investigation field have full of capacity to meet all requests from the investors. Besides, time for the investigation is quick, and the price shall be much cheaper than the cost that the investors use to do their own investigation.

Therefore, if you are going to invest in Vietnam, we recommend you to conduct a thorough Vietnam background check, which includes the followings:

• Research for records of enterprises or record of individuals in Vietnam;
• Research for the reputation of the company or individual who shall be your business partners in Vietnam;
• Research for the history of public information about the company or individual.

Readmore : http://www.antconsult.vn/news/background-check-service-in-vietnam.html

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Korean Venture Capital Poured into Vietnam

According to Adjust’s Mobile Growth Map – a mobile market research company, Vietnam is the fastest growing application market that keeps Internet users.

In 2017, Korean President Moon Jae-in announced a new policy aimed at strengthening the relationship between Korea and ASEAN. These policies have boosted the dynamism of Korean companies to Southeast Asian business.

More and more companies in every field aim to Southeast Asia. Many of them, are venture capitalists.

Over the past two years, Southeast Asian technology companies have signed numerous agreements involving Korean investors, such as the 50 million USD investment in Bukalapak e-commerce company of Mirae Asset-Naver Growth Fund, seed sponsorship deals for real estate startups from BonAngels Venture Partners and Kakao Ventures.

In addition to trade and real estate, Korean venture capital funds have poured money into almost every other important area of Southeast Asia including fintech (KIP’s investment in C88 in Singapore), car (SoftBank Ventures Korea in Singapore by Carro), travel (BonAngels and Nextrans in Vietnam) and logistics (Nextrans and FuturePlay into EcoTruck Vietnam).

In recent years, Korean venture capital companies have also established joint funds with partners in Southeast Asia to target startups in the region, including a cooperation fund worth 87 million USD of Korean Investment Partners with Golden Equator, the 100 million USD cooperation fund of Intervest and Kejora Ventures. The bigger ones are Hanwha Asset Management and Golden Gate Ventures with 200 million USD fund and most recently the investment fund of about 100 million USD of KB Investment and MDI Ventures.

In 2017, Southeast Asia’s private capital and venture capital surpassed Europe for the first time, with the amount of 23.5 billion USD invested in this area, nearly three times higher than in 2016, according to data from Singapore Venture Capital & Equity Association

(SVCA). Investments in startups doubles to 8 billion USD. In 2018, Alibaba invested an additional of 2 billion USD in Lazada while Indonesia’s Gojek closed the 1.5 billion USD funding round.

Korean investors pay special attention to Indonesia and Vietnam. According to the Vietnam Technology Investment Report of Cento Ventures and ESP Capital, 13 of 61 venture capital funds operating in Vietnam in the first half of 2019 are Korea.

According to Adjust’s Mobile Growth Map – a mobile market research company, Vietnam is the fastest growing application market that keeps Internet users.

One of the reasons is that Vietnam is the market with the largest potential for internet growth worldwide.

That’s why so many businesses come to this region, and so many acquirers are actively looking for Southeast Asian companies. Silicon Valley giants like Google and competitors are beginning to look more seriously at Southeast Asian companies as an investment and acquisition opportunity.

Readmore : http://www.antconsult.vn/news/korean-venture-capital-poured-into-vietnam.html

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