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Financial News: Vietnam Govt. Forecasts $6.5 Bln M&A Deals Value

Vietnam Govt. Forecasts $6.5 Bln M&A Deals Value This Year

07/24/2018 - 07:43:00 (RTTNews)

(RTTNews) - Vietnam's government expects the total value of mergers and acquisitions, or M&A, deals to reach $6.5 billion this year, which is equal to 63.7 percent of the record $10.2 billion in 2017, the official news agency VGP reported Tuesday.

In 2017, the Vietnam M&A market grew nine times from 2008 and the deal value increased a massive 175 percent from the previous year.

The M&A deals value was around $48.8 billion with as many as 4,000 transactions in the recent decade, the government said. Last year also saw the biggest ever M&A deal in Vietnam as a Thai Beverage bought a 54 percent stake in the state-owned brewer Sabeco for nearly $5 billion.

During the first half of this year, M&A deal value was estimated at $3.35 billion, which is equal to 139 percent of the value a year ago. The information was released by the Deputy Minister for Planning and Investment Nguyen The Phong at a press conference to announce the M&A Vietnam Forum 2018.

The event will be held in the capital Ho Chi Minh City on August 8. In the first half of this year, the Vietnamese economy grew 7.08 percent, the highest in more than a decade. In 2017, the economy expanded 6.8 percent. Vietnam's economy is likely to suffer as the Sino-US trade war escalates and experts suggest the government may have to devalue the Vietnamese dong further against the US dollar. As the Chinese yuan weakens, the country's exports are made cheaper abroad, including in Vietnam. Thus, Vietnamese producers and exporters will have to compete with cheaper Chinese goods. The IMF expects the Vietnamese economy to expand 6.6 percent this year.

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