Spending over VND9 trillion ($391.3 million) in the first half of the year on the construction of its Dung Quat Iron and Steel integrated complex through borrowings, Hoa Phat Group is paying an enormous amount of interest on its debts each day.
Tan Hiep Phat Group’s Chairman Tran Qui Thanh has confirmed real estate is a pivotal interest and that the group will spend a few thousand billion of Vietnam dong to participate in this market.
Siam Cement Group has expressed interest in acquiring the remaining 21 percent stake currently held by PetroVietnam in the Long Son petrochemical complex.
According to Hiroyuki Ono from ACA Investments, a Japanese fund manager under the Sumitomo Group, Vietnam market is more attractive to Japanese enterprises than Thailand and Indonesia.
Samsung Group has exposed its interest in investing in Vietnam's telecommunications sector, reconfirming its status as the largest foreign investor in Vietnam.
The arbitrary implementation of the projects without strict supervision and clear legal framework has turned build-operate-transfer (BOT) projects into slices of the pie for interest groups,” the economist Dr Le Dang Doanh said.
The report of Vietnam National Chemical Group (Vinachem) shows that the total loans and finance lease liabilities of Vinachem as of June 2017 were more than VND19,000 billion (roughly US$837.37 million).
"We set out too many business conditions and force businesses to comply. Meanwhile, the management is still loose, causing backdoor business and group interest," said lawyer Truong Thanh Duc.
