Haiphong

Can Tho City Reports Fastest GDP Growth

Jul. 15 – Can Tho City located in Vietnam’s Mekong Delta registered the fastest growth in gross domestic product (GDP) at 7.8 percent followed by Haiphong with 5.8 percent; Danang with 5.1 percent; and Ho Chi Minh City with 4.6 percent for the first half of the year.

Hanoi was at fifth place with a GDP growth of 4.1 percent, according to the Vietnam News Agency. Hanoi’s GDP is estimated to grow at 5.5-6 percent this year, lower than the annual target of 9.5-10 percent, deputy chairman Phi Thai Binh of the Hanoi People’s Committee told Thanh Nien News.

The country’s top cities have been affected by the global financial crisis with the exports industry being the hardest hit of them all. Continue reading →

Posted in Business, Danang, Economy and Politics, FDI and Foreign Trade, Haiphong, Hanoi, Ho Chi Minh City | Leave a comment

GE Begins Construction of US$61 Million Plant in Haiphong

May 13 – General Electric has begun building a US$61-million manufacturing plant in Haiphong City.

The plant, located 100 kilometers east of Hanoi in the Red River Delta, will be making components for other GE manufacturing and service facilities around the world while also providing installation, maintenance and repair services for the components.

Posted in Economy and Politics, FDI and Foreign Trade, Haiphong, Manufacturing | Leave a comment

Vietnam to Offer Better Conditions for Chinese Investors

Apr. 21 – The Vietnamese Government is promising better conditions for Chinese investors looking into doing business in the country.

Prime Minister Nguyen Tan Dung said the statement during a Vietnam-China Business Forum held in Guangzhou city, adding that Chinese-invested projects in the country were going smoothly.

A reported 600 Chinese-invested projects are now in Vietnam with a capitalized value of US$2 billion, not including investment coming from Hong Kong and Macau.

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Posted in Economy and Politics, FDI and Foreign Trade, Haiphong | Leave a comment

South Korean Mall to Invest US$5 billion in Vietnam

Dec. 18 – South Korea's top retailer, Lotte Mart, said it would invest US$5 billion in the next 15 years to develop a chain of 30 shopping malls in Vietnam.

The company's first outlet opened in Ho Chi Minh City last Wednesday spanning 31,000 square meters making it the largest mall in the country.

Lee Sang Woo, general director of the Lotte Vietnam Shopping Company, told Xinhua that Lotte Mart would develop a chain of 15 shopping malls in Ho Chi Minh and 15 more malls in the cities of Hanoi, Haiphong, Danangand Can Tho.

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Posted in FDI and Foreign Trade, Haiphong | Leave a comment