KBC shares of Kinh Bac Urban Development Corporation surged to the ceiling price of 28,200 VND/share at the beginning of the afternoon session on September 24, with a trading volume of over 10 million shares by 1:30 pm. Foreign investors also net bought more than 1.5 million shares.
This is the first time KBC shares have hit the ceiling price since the beginning of March 2024. However, the stock price has declined by more than 10% since the beginning of the year.
The surge in KBC shares comes as a series of positive news related to Vietnam’s FDI attraction has been announced. Kinh Bac Urban Development Corporation is poised to benefit significantly from its large industrial land bank, totaling 6,611 hectares, which accounts for 5.1% of the country’s industrial land area.
The company owns several large industrial parks, including Tan Phu Trung in Ho Chi Minh City (590 hectares), Que Vo in Bac Ninh (600 hectares), Nam Son Hap Linh in Bac Ninh (402 hectares), Quang Chau in Bac Giang (426 hectares), Dai Dong Hoan Son (400 hectares), Trang Due in Hai Phong (600 hectares), and Phuong Nam in Quang Ninh (569 hectares), among others.
On September 22, the People’s Committee of Bac Ninh province organized an Investment Promotion Conference with the theme “Bac Ninh – Kinh Bac, Investment Revival”. During the conference, under the witness of the Prime Minister, the provincial leaders granted investment registration certificates, investment registration certificates, memoranda of understanding, and in-principle agreements to 18 large-scale projects in the province, with a total investment of over $5.6 billion.
Notable projects include the Amkor Technology Vietnam Co., Ltd. project with an additional investment of $1.07 billion for the production, assembly, and testing of semiconductor materials and equipment. Another significant project is the FCPV Foxconn Bac Ninh project by Foxconn Singapore, with a total investment of $383.3 million. Additionally, the Goertek project, with a total investment of $280 million, will focus on manufacturing electronic products, network equipment, and multimedia audio products.
Furthermore, a memorandum of understanding was granted to the Samsung Display Co., Ltd. project for the production of screens and electronic components in Yen Phong Industrial Park, with a total investment of $1.8 billion. Another notable project is the Aeon Mall Vietnam Co., Ltd. project, with a total investment of $190 million, focusing on the development of the Aeon Mall Trade Center.
According to a report by the Ministry of Planning and Investment, as of August 2024, the total registered capital of new, adjusted, and contributed capital for the purchase of shares and capital contributions by foreign investors (FDI) in Bac Ninh reached nearly $3.5 billion, making it the leading province in the country in attracting FDI. From the beginning of the year until now, the province has granted new and adjusted investment registration certificates to 318 projects, with a total registered, adjusted, and contributed capital for the purchase of shares of $3.47 billion, an increase of 194% over the same period last year.
Prime Minister witnesses the granting of investment registration certificates, investment policy decisions, and memoranda of understanding with projects and partners.
Additionally, Hung Yen Group, a subsidiary of Kinh Bac Urban Development Corporation, has proposed a Trump Organization investment project in Hung Yen province. Specifically, The Trump Organization expressed its desire to invest in the province in the fields of hotel construction, golf courses, and entertainment complexes, which are the company’s strengths and internationally recognized brands. At the same time, the company requested the province to create favorable conditions for its participation in the province’s new development phase and contribute to promoting the diplomatic relations between Vietnam and the United States.
The Trump Organization is a diverse private group owned by the family of former US President Donald Trump. It is known that he handed over the leadership to his children in 2017 after being elected President of the United States in 2016.
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# The Country’s Top Revenue-Generating District to Become a Bustling Port City, Embracing its Three River Frontages.
With an impressive portfolio of over 440 foreign-invested projects, this district boasts a total investment capital of more than 11 billion USD.
The Upcoming Blockbuster Stock Trades
After the upcoming 2nd of September holiday, key leaders, family members, and major shareholders of several prominent businesses are planning to sell and transfer substantial amounts of their stock holdings.
Why Does Dang Thanh Tam Want to Sell Over 86 Million KBC Shares?
“Recently, Kinh Bac City Development Holding Corporation, chaired by Mr. Dang Thanh Tam, successfully issued KBCH2426001 bonds, raising VND 1,000 billion to restructure its debts. This move showcases the company’s financial strategy and commitment to sustainable growth, ensuring its long-term success and solidifying its position as a leading real estate developer in Vietnam.”
“Boosting Luxury Hotel Occupancy: Propelling Haiphong’s Economy Forward”
“Haiphong is a prominent destination for substantial FDI inflows, and its burgeoning tourism potential has catalyzed the city’s remarkable development of 4-5 star hotels catering to the needs of both business professionals and discerning travelers.”
“Vietnam: Poised to Move Up the Global Supply Chain Ranks”
With its favorable policies and inherent potential, Vietnam has become an attractive destination for foreign investors (FDI). The country is expected to experience a positive growth trajectory in FDI inflows during the remaining months of 2024. Amidst intense global competition to participate in global supply chains, Vietnam holds certain advantages that position it competitively.
