Ho Chi Minh City Housing Development Commercial Joint-Stock Bank is in talks with three Japanese finance firms to sell as much as a 30 percent stake, amid a wave of investments in Vietnam from Asia’s second-largest economy.
A Vietnam court will consider the death penalty for two former executives if they’re convicted in a $25 million fraud scheme, signaling an aggressive stance as leaders seek to clean up the banking system.
Franklin Templeton Investments’ venture in Vietnam said the time is right for buyout firms to invest in the country as it expects monetary and fiscal reforms to take effect over the next three to five years.
Spanish developer Luis Gonzalez Chozas used to boast of the nobility of the horses at his 600- hectare (1,480-acre) hunting estate in the lee of the San Pedro Hills, one of the best for boar and deer in the region.
Vietnam’s asset management company signed the first debt-purchase contract as it starts cleaning up bad loans at lenders amid rising pressure to accelerate the restructuring of the banking system and revive the economy.
Vietnam’s state asset management company, tasked with cleaning up bad loans, said it will acquire as much as 10 trillion dong ($474 million) of spoiled debt over the next two months as it considers possible foreign funding.
Vietnamese Prime Minister Nguyen Tan Dung has approved a regulation to set up a debt asset management company to address bad loans in the country’s banking system, central bank Deputy Governor Le Minh Hung said today.
Vietnam will find it “difficult” to cut interest rates further this year, central bank Deputy Governor Nguyen Dong Tien said, as the nation moves to create an asset company that would clean up bad debt and revive growth.