Frank26 and KTFA Members late Wednesday Night 11-6-19
KTFA:
Popeye7: What a tangled web that has been woven within Iraq...
Has Sadr been against the very Iraqi people he claims to be a champion of?...
Has Mahdi actually not been in control of what transpired, but has been smeared by Iranian backed media within Iraq for this countries continued control from within their neighboring country?... Mahdi was over in China last month signing agreements in order to ensure the continued progress economically within Iraq took place... Lots of inconsistencies going on frankly...
While at the same time former Dawa party (Maliki's party) member Abadi has been very critical of Mahdi... Could the former prime minister actually be part of the Iranian cabal... We know that he has served within Iraqi politics for a period of time, and has prospered quite significantly from it I might add...
Remember that video (awfully convenient) showing former President Obama, and Christine Lagarde ignoring him... Could that have been just for show in order to make it appear as though they wanted nothing to do with former PM Abadi?...When in fact they were on the same team all along...
Something to think about!... Have you ever stopped to think that Mahdi has been for reform all along... Not visiting the US has made it seem as though he is on Iran's side in all of this... When in fact he could have very well been working against Iran in order to weed them out of Iraq's government...
Lots of conspiring going on obviously... Will we ever really know the truth in all of this during this point in time?... Ah, politics!... Gotta love it!... NOT!...
FRANK26: IRAN YOU’RE NOT WELCOME
11-6-19
Iobey777: What a report!!! IMO...now that the UN (the Fab 4, Trump, the USA) are attending ALL the meetings and overseeing all that is being done, things will begin to change for the better of Iraq!
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Samson: Vietnam, US to enhance infrastructure finance
7th November, 2019
Deputy Minister of Finance Trần Xuân Hà and Acting Assistant Secretary at US Department of the Treasury Michell Silk shake hands after signing a co-operation framework to strengthen infrastructure finance in Việt Nam
The Ministry of Finance and the US Department of Treasury signed a co-operation deal to strengthen infrastructure finance in Việt Nam yesterday.
The deal aims to mobilise and utilise private capital and develop financial markets to build infrastructure, helping Việt Nam achieve its priorities in this area.
The deal includes harnessing the potential of investors; building financing tools that can mobilise, promote and address barriers to private sector investment in infrastructure; encouraging innovation and sustainability; exploiting financial capacity building and technical co-operation programmes; and capital market development.
Deputy Minister Trần Xuân Hà said Việt Nam’s infrastructure investment demands were high. “According to a report by the Ministry of Planning and Investment, Việt Nam’s infrastructure investment demand for 2017-20 was about US$195 billion, of which energy, roads, bridges, aviation, clean water and waste treatment were priorities,” Hà said. He said the deal would contribute to the formation of policy mechanisms to mobilise capital from the private sector and develop financial markets for infrastructure development in Việt Nam, as well as contributing to bilateral co-operation.
Michell Silk, acting assistant secretary at the US Department of Treasury, said the deal would help remove financial barriers.
With the knowledge and experience from both countries, Silk said it would help fill the infrastructure gap over the next five years, reducing financial pressure on the Government and attracting more private capital. To implement the co-operation framework, the two sides will set up a working group with the US Office of Technical Assistance. LINK
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Samson: Vietcombank becomes first Vietnamese bank to open rep office in US
3rd November, 2019
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) inaugurated its representative office in the US, on Friday.
Located in Manhattan, New York, the office is the first of its kind opened by a Vietnamese commercial bank in the US. The office received a licence from the New York State Department of Financial Services on June 17 this year. Earlier on October 26, 2018, Vietcombank received approval for its application from the US Federal Reserve System.
Chairman of the Vietcombank Board of Directors Nghiêm Xuân Thành said the office will connect with existing and promising clients in the US, make market analysis reports, and attend business seminars to support partners in the country.
Since the launch of its restructuring project in 2015, Vietcombank’s total assets have surpassed VND1 quadrillion (US$43 billion), nearly double that of early 2015. Its profit has tripled to top the Vietnamese banking sector and its rate of bad debts dropped below 1 per cent. The bank now has more than 550 branches, transaction offices and member units.
In October 2019, Vietcombank was also allowed by the State Bank to open a branch in Australia.
LINK
Samson: Vietnam a magnet for investors: economist
6th November, 2019
The industrial production and logistics sectors in Vietnam have great potential field, according to experts
Việt Nam is an attractive market for investment, Dr Võ Trí Thành, former deputy director of Central Economic Management and Research Institute told a conference in HCM City on Tuesday.
According to the US News and World Report, Việt Nam has risen 15 places this year to eighth in the list of the world’s best countries to invest. In Asia, it ranks fourth behind Saudi Arabia, India and Qatar.
Thành said Việt Nam enjoys advantages like being located in a dynamic and cohesive area of global visible commerce, a young population, competitive labour costs, having a cogent investment strategy, and commitment to stability, reform and integration. But it also has some disadvantages, such as lack of consistency, quality human resources, infrastructure and competitive salaries, he said. He forecast a good future for manufacturing, services, logistics, the digital economy, infrastructure, and real estate.
Michael Paul Rio, chief operations officer of Indochina Capital Corporation, said hospitality, high-end housing, manufacturing, and logistics market are promising sectors in the Vietnamese economy.
The growth of domestic and international tourism and low-cost carriers, airport expansion, and highway development are creating opportunities for investors in the hospitality sector, he said. The number of domestic and international tourists has been growing at annual rates of 20 per cent and 18 per cent in the last five years, he said. The capacity of the country’s airports has been increasing at 20 per cent.
Since 2015 three new terminals have been built while numerous airports have been expanded, he said. New highways have helped increase the number of domestic tourists travelling by road by 60 per cent, he said. Apartment prices in Việt Nam remain regionally competitive and attractive to foreign investors, he said. The rates per square metre in HCM City and Hà Nội are US$3,800 and $3,200 compared to $4,500 and $25,600 in Bangkok and Singapore, he said.
He said logistics sector growth, FDI inflows, infrastructure development, and retail sales are key factors in attracting investors to the industrial and logistics sectors. “Vietnamese Economy 2020-2030: Recession or Resurgence” was attended by more than 300 company CEOs and leading experts in various sectors. LINK
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Samson: Foreign insurers eye promising Vietnamese market
7th November, 2019
The World Bank predicts that by 2026, 26 per cent of Vietnamese will be middle class, double the number today
Growing demand for health care and disease prevention in Việt Nam offers great opportunities for life insurers, especially foreign firms, to develop.
Better income has led to more attention on health among many Vietnamese. The World Bank predicts that by 2026, 26 per cent of Vietnamese will be middle class, double the number today. The average growth rate of the insurance market in Viet Nam in 2012-2017 was 21.4 per cent, much higher than the Philippines (14.4 per cent) and China (14.4 per cent).
Along with expansion strategies, life insurance firms have entered a fierce race to increase charter capital to improve their financial strength to attract customers. Among 18 life insurers in Việt Nam, Bảo Việt Life is the only domestic firm.
This year, Manulife has increased its charter capital to nearly VNĐ9.7 trillion (US$418.6 million), Hanwha Life Vietnam increased its charter capital to VNĐ 5 trillion ($215.7 million) from VNĐ 1.89 trillion ($81.5 million), Generali Việt Nam injected additional capital, bringing the current charter capital to VNĐ4.85 trillion ($209.3 million).
Compared to most of the mentioned foreign insurers, Bảo Việt Life has lower charter capital of VNĐ 4.15 trillion ($179 million).
In the field of newly exploited contracts, considered one of the most important categories for life insurers, Manulife leads with revenue from new customers of VNĐ2.72 trillion ($17.3 million). Bảo Việt Life was second with revenue of VNĐ2.64 trillion ($113.9 million).
Notably, the number of newly exploited contracts via bancassurance in 2019 increased by 180 per cent year-on-year while the new premium revenue of this channel accounted for 17.8 per cent of the total newly exploited revenue of the entire market.
Lots of potentials
Despite spectacular growth in the past few years, according to experts, Việt Nam's life insurance market remains relatively untapped.
Experts are upbeat about the Vietnamese insurance industry’s health in the coming years, forecasting it would maintain an annual double digit growth rate. The insurance industry expects a growth rate of 20 per cent this year.
The growth potential is great as the country has one of the world’s lowest life insurance penetration levels at less than 1 per cent of GDP. The average insurance premium in Việt Nam stands at $30, much lower than the global average of $595 and Southeast Asia’s average of $74.
Data of the Việt Nam Insurance Association showed 8 per cent of Việt Nam’s population currently has life insurance. Though there is no updated data, the number of insurance contracts signed via bancassurance in the first half of last year grew by 89 per cent year-on-year, reaching nearly 857,000 contracts. "The potential for further development is enormous, especially as the middle class continues to expand rapidly and awareness of risks such as increased cancer," said the CEO of a foreign insurance firm in the market.
Bloomberg reported on September 23, billionaire Richard Li's FWD Group Ltd. was nearing an agreement to pay about $400 million for the purchase of Vietcombank's Cardif Life Insurance.
There are also domestic insurers which have launched life insurance products like Bao Minh or PVI however, a report of Rồng Việt Securities Company said: “The products of domestic companies are relatively similar. Foreign companies, thanks to their ability to provide differentiated products with better profitability, are targeting the Vietnamese market. There, the direction to buy shares of domestic firms is the fastest way to penetrate the young and highly competitive Vietnamese market." LIN