Vietnam: Cross-boarder deals eyed to boost economy

Vietnam officials are reportedly in discussions with Turkey, Hungary and other nations in hopes of encouraging cross-boarder mergers to boost the local economy.

Budapest-based IMAP MB Partners had reportedly been advising Vietnamese companies on possible deals abroad, but saw one deal between a Vietnamese and Hungarian company fall through after months of discussions. IMAP partner Gabor Szendroi told reporters that Vietnam’s expectations could be “extreme” in depending on mergers to move the economy forward.

Still, Vietnam says it is working to reverse a downward trend in the nation that has lead to an absence in successful acquisitions. According to reports, its economy has consistently posted growth below 6 percent a year, and officials believe mergers can improve that figure.

Prime Minister Nguyen Yan Dung signed a directive earlier this month for a five-year economic improvement plan that includes methods to encourage foreign mergers, according to reports.

Full content: Turkish Weekly

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