This successful deal has eased off concern from investors and some administrative agencies, showing the positive responses from the market toward determination and effort of the government in respecting market principles and meeting expectation for a transparent business environment. 

On the other hand, the State Capital Investment Corporation (SCIC) received 9 trillion VND (roughly 280 million USD) for selling 3.33% stakes in Vietnam Dairy Products (Vinamilk) on the Ho Chi Minh stock exchange on November 10 for Platium Victory Pte Ltd. 

The M&A Vietnam in 2017 with major deals has solved challenges restricting the growth of M&A in Vietnam, specifically, foreign investors still consider Vietnam as an attractive destination; removing bottleneck in the process of equitization and divestment from state owned enterprises (SOEs); leading SOEs are encouraged to divest state fund, while private sector is more open to foreign investors. 

Plan to divest state fund from Vinamilk also attracted interests from foreign investors.

Evidently, a series of transactions are concluded with the participation of foreign investors. For example, Synnex Technology International (Taiwan) bought 30% stakes of FPT Retail and 47% stakes of FPT Trading from FPT, for which FTP received 932 billion VND in return from the FPT Trading’s deal. Ho Chi Minh Development JSC (HD Bank) is planning to list its share on Ho Chi Minh City Stock Exchange in 2018, after deciding to sell 20% of its shares to foreign investors. Major financial institution in Vietnam’s stock market such as Credit Saison (Japan), Deutsche Bank AG (Germany), JPMorgan Vietnam Opportunities Fund, CAM Bank (Japan), Dragon Capital VinaCapital, Macquarie Bank (Australia), PYN Elite spent 300 million USD, equivalent to over 6.8 trillion VND for HDBank’s shares. 

In real estate sector, statistics from the Commercial Real Estate Services (CBRE), capital contribution from private sector in 2016 and 2017 totaled 613.5 million USD. Major deal included Vincom Retail raised 740 million USD in Vietnam’s largest ever equity deal; Shinhan cooperated with VinaCapital for 100 million USD invested in Novaland; Samsung Securities in collaboration with Caldera Pacific, a private equity from Hong Kong purchased 40% shares of Dragon Capital; Keppel Land bouth 20% shares of Quoc Loc Phat, the owner of Song Viet complex with value of 7.3 trillion VND (roughly 322 million USD) in Thu Thiem, Ho Chi Minh city. As such, the year of 2018 is expected to be the right time for foreign investment flowing into the real estate sector.

For all the potential of the M&A in Vietnam, it is safe to say that the target value of 20 billion USD in M&A 2018 is within reach.