There has been a spate of investment activities across sectors in Vietnam, especially in real estate, telecommunications and the startup space.
HDBank and Vietinbank have joined hands with construction and real estate companies to develop domestic projects, while the IT sector has seen recent developments from both established industry giant and a newly-incubated startup.
HDBank & Vietinbank commit investment for real estate
HDBank pledged to invest VND300 billion ($14 million) in construction firm Cotec Asia’s Blue Sapphire Resort in the seaside Vung Tau City, in the recent signing ceremony between the two entities.
The bank will offer what it calls the “super preferential interest rate” of 3.8 per cent to customers who buy villas and apartments in the projects until March 31 of this year.
The Blue Sapphire Resort project was started in 2010 as the first five-star resort in Vung Tau with an area of 76,900 square metres comprising, 36 villas and 260 sea-view apartments. So far, Cotec Asia has finished the foundation and raw building of the project.
In another development, on January 7, HDBank signed a credit agreement with Vinafood 2 to expand rice cultivation area.
Meanwhile, Vietinbank is the credit provider for Dat Xanh Group in the 2015-20 period, lending up to $1 billion to the group. The co-operation between the two parties is in credit and non-credit activities, capital contribution, bond investment, merger and acquisition consultancy and insurance.
VNPT to invest internationally
The Vietnam Post and Telecommunications Group (VNPT) said it was seeking investment opportunities in other countries, including Myanmar, Cambodia, Laos, Hong Kong and Cuba.
VNPT general director Tran Manh Hung expects the group to finalise an investment deal by the second quarter of this year.
In 2008, the group establish VNPT Global with offices in the US, Singapore, Hong Kong and Czech Republic, with the ambition of expand in the global market. Three years later, it merged VNPT Global with telecom service provider MobiFone to help MobiFone expand to other countries and become one of the 10 largest mobile network in Asia.
Then in June last year, the Vietnamese government decided to split MobiFone from VNPT, therefore VNPT will have to set up a new organisation to serve its expansion plan.
FPT introduces startup product
Viecnha.vn, one of Vietnam’s first such service, will be active in the Hanoi and HCM City markets. It will provide services in two ways: maid servicing such as cleaning, laundry and baby sitting, and repairing servicing.
According to Le Trong Duc, head of FPT Telecom incubator unit, Viecnha.vn is similar to the world’s well-known cleaning services such as Homjoy, Merry Maids and Home Bliss.
Viecnha.vn, which is in collaboration with Jupviec.vn and VNPT’s Homecare 1080 – Vietnam’s leading cleaning service providers, is supported by FPT Telecom for funding, product development and connecting to the clients.