Hanoi

U.S. Developer Bows Out from International Airport Project

May 24 – American real estate developer Rockingham Asset Management has bowed out of an international airport project in Quang Ninh Province citing lack of funds and human resources.

Joinus, a Korean company, expressed interest in the Van Don international airport project and is in negotiations with local authorities for a possible US$2 billion investment into the airport and a connecting expressway to Halong city. The international airport is a key infrastructure component in the Van Don Economic Zone located in the vicinity of famous tourist destination Halong Bay. Continue reading →

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Vietnam to Waive Visa Fees for August and September

Apr. 27 – Vietnam will waive visa fees for foreign visitors to the country from August to September as part of the “Impressive Vietnam Grand Sale 2010” campaign.

Foreign tourists can claim a refund of value added tax when they buy goods during the two month program. Tourist-related businesses in Hanoi, Danang, and Ho Chi Minh City will also offer 10 to 40 percent discount for local and foreign tourists during the campaign.

Continue reading →

Posted in Culture and History, Danang, Economy and Politics, FDI and Foreign Trade, Haiphong, Hanoi, Ho Chi Minh City, Retail, Shipping & Logistics | Leave a comment

Vietnam Begins Construction of US$33.8 Million Road

Apr. 21- Construction of a 550-meter long road section began in Hanoi on Saturday with an expected cost of VND642 billion, or US$33.8 million.

The project is considered the most expensive road to be built in the country, costing more than VND1 billion (US$52,617) per meter and spanning from Cho Dua Gate in Dong Da District to Hoang Cau Street. Continue reading →

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New Issue of Vietnam Briefing: Managing Human Resources in Vietnam

Apr. 15 – In this issue of Vietnam Briefing magazine we tackle the legal aspects of managing human resources in the country.

Many foreign investors move operations to Vietnam to take advantage of its large, skilled and inexpensive labor force. As the economy expands further and more business enters the country, it will increasingly become an important part of corporate strategy to find ways to effectively motivate staff while also complying with local labor laws. The magazine covers various topics under recruitment and hiring including salary, mandatory benefits, labor contract, work permits, working hours, bonuses, trade unions and insurance.

We will also look at the ongoing urban renewal of Hanoi and Ho Chi Minh city as its expands the scope of its area to accommodate more local and foreign investment. Continue reading →

Posted in Business, FDI and Foreign Trade, Finance, Tax and Accounting, Hanoi, Ho Chi Minh City, Legal and Regulatory | Leave a comment

Foreign Companies Dominate Real Estate Service Market

Apr. 14 – Foreign real estate service providers dominate the market in Vietnam with an estimated 90 percent of market share, reports Vietnam Net Bridge.

The top three companies in the industry are foreign players CBRE Vietnam, Savills Vietnam and Colliers, followed by local service providers like Megagroup, Eden, Him Lam and VietRees. Continue reading →

Posted in Economy and Politics, FDI and Foreign Trade, Hanoi, Ho Chi Minh City, Real Estate | Leave a comment

International Trade Fair Opens in Hanoi on April 14

Apr. 13 – The 20th Vietnam International Trade Fair, also called the Vietnam Expo 2010, will be held in Hanoi from April 14-17.

The fair will bring together 700 stalls from 400 companies originating in 20 localities all over the country, as well as companies from 17 countries and territories. This year’s theme is “Vietnam -A Great Opportunity for Trade and Investment,” with the goal of accelerating export and domestic consumption and marketing major export goods and services. Continue reading →

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Hanoi’s Investment Zones Attracts US$30 Million from January to March

HANOI, Apr. 12 – Investment in the capital city’s industrial zones increased during the first three months of 2010 amounting to US$30 million.

The figure is two and half times higher compared to the same period last year comprising of investment licenses to 8 projects: three of them from foreign investors and five from domestic companies. Four more capital projects were also approved during the first quarter. Continue reading →

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More Labor Inspections Slated for Hanoi Industrial Parks

HANOI, Apr.8 – Local authorities will soon conduct more labor inspections in Hanoi’s industrial parks after a series of worker strikes.

In March, 60 Vietnamese workers from Endo Stainless Steel went on strike demanding more pay, subsidies and decreased working hours. “We will launch many inspections of enterprises following signals that workers’ interests have been violated at Endo Stainless Steel Vietnam,” Ngo Chi Hung, vice head of Hanoi Industrial Park and Processing Zone Authority, which manages 18 industrial parks, told Vietnam Investment Review. Continue reading →

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Northern Thai Nguyen Province to Become Major Manufacturing Hub

Mar. 10 – Northern Thai Nguyen Province is being groomed to become a major metallurgy, mechanical manufacturing and precision engineering hub in the country.

Thai Nguyen is a small province bordering the capital city of Hanoi and serves as a gateway to the Red River delta with its network of road, rail and waterways systems. “Vietnam’s mechanical engineering remains undeveloped and that is why we should mobilize domestic and international resources to make metallurgy a vital industry for Thai Nguyen and the nation,” President Nguyen Minh Triet said during a visit to the province this week. Continue reading →

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Shaping Hanoi

Photo: stefan77dd/Flickr By Joyce Roque

HANOI, Mar. 5 – As the government prepares to celebrate Hanoi’s 1,000 year anniversary in October, plans to slowly expand the capital city have already begun since 2008.

Hanoi’s limits will stretch to include adjacent provinces to make more space for national projects in the capital city. The expansion has already absorbed the provinces of Hatay, Hoa Binh or Vinh Phuc; making the old Hanoi with its crawling French colonial architecture the center of the new expanded city. Continue reading →