Ho Chi Minh City

Forbes to Honor the 50 Best Listed Vietnamese Companies

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HCMC – In a sign of Vietnam’s maturing market, Forbes Vietnam is preparing to honor Vietnam’s 50 best listed companies in a ceremony to be held on October 17 in Ho Chi Minh City (HCMC). The award seeks to recognize companies listed on the Vietnam Stock exchanges that have outstanding business and financial performance. Some of the recognizable names on the top 50 list include Vingroup, Vinasun, Vinamilk, and Vietcombank.

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Samsung Increases Investment into Vietnam’s Saigon Hi-Tech Park

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HCMC – Samsung has recently received an investment certificate allowing the company to move forward with the development of a new US$1.4 billion electronics factory in Ho Chi Minh City (HCMC).  The new factory, which will be called the Samsung CE Complex, will be built in the Saigon Hi-Tech Park. This is yet another move by the South Korean company to turn Vietnam into a global manufacturing base for its products.

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New Investment Opportunities in South Vietnam: An Interview with Long Hau Industrial Park

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Vietnam Briefing’s Senior Editor, Edward Barbour-Lacey, recently had the opportunity to interview Mr. Sy Tran – Director of the Sales and Marketing Department at the Long Hau Corporation (LHC). Mr. Sy has many years of experience working with well-known multinational corporations and leading Vietnamese companies in the FMCG and B2B industries.  These companies include: Coca Cola, New Zealand milk, Foster Vietnam, and Vinamilk.

LHC is an industrial park (IP) developer located in southern Vietnam. LHC is operated under the cooperation of IPC (Tan Thuan Industrial Promotion Company – the investor of Tan Thuan EPZ, Phu My Hung New City, and SPCT sea port) and Jaccar Holdings (a French capital firm). It was established in 2007 and listed in Ho Chi Minh City (HCMC) in 2010.

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Hi-Tech Parks and New Urban Areas Slow to Attract Investment in HCMC

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HCMC – Ho Chi Minh City (HCMC) saw an 83.5 percent year-on-year increase in foreign direct investment (FDI) inflows during the first six months of 2014. However, the city’s Hi-Tech and New Urban Areas have abjectly failed to attract the levels of investment that were previously hoped for.

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British Business Group Vietnam Opens Business Center in Ho Chi Minh City

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HCMC – On Tuesday June 10, the British Business Group Vietnam (BBGV) opened a new business center in Ho Chi Minh City. The center, which is located inside the British Consulate General at 25 Le Duan Street in District 1, is intended to boost trade and investment between the United Kingdom and Vietnam.

The launch of the new center is part of the British government’s ambitious goal to transform the U.K.’s economy by doubling its annual exports to £1 trillion (US$1.68 trillion) and increasing the number of British exporters to 100,000 by 2020.

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Ho Chi Minh City Ramps Up Infrastructure Spending

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HCMC – Ho Chi Minh City (HCMC) has announced that it will require VND17 trillion (US$799 million) for transportation infrastructure development in 2014.

However, according to recent budget reports released by the city, HCMC can only cover a little over VND7 trillion (US$330 million) in funding. The rest of the money will come from official development assistance (ODA) funding (VND2.3 trillion, approximately US$108 million) and from the Asian Development Bank (US$1.2 billion).

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Ho Chi Minh City Cracks Down on Work Permits

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HCMC – The Ho Chi Minh City (HCMC) Department of Labor, War Invalids, and Social Affairs has announced that foreign workers in the city will have to apply for new work licenses when their work permits expire. They will not be able to get an extension.

The new regulation is expected to cause significant inconvenience for many businesses and foreign workers, some of whom may have to return to their home countries in order to obtain their criminal records. This is because the law requires that the criminal records be issued to the government within six months of the foreign worker submitting their application for a work permit.   

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Ho Chi Minh City and Hanoi Report Strengthening Economic Numbers

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HCMC –Vietnam’s capital Hanoi and its economic center Ho Chi Minh City (HCMC) have both reported positive economic numbers for the first four months of 2014. April has proven to be a particularly auspicious month for both cities.

HCMC

The HCMC People’s Committee has issued a report highlighting a number of areas where the city has posted strong economic numbers.  The reported numbers include:

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Foreign Garment and Textile Manufacturers Weave Their Way to Success in Vietnam

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By Edward Barbour-Lacey

HCMC – Garment and textile manufacturers are finding Vietnam an increasingly attractive destination to set up their operations.

This enthusiasm was on full display at the recent Saigon Tex garment and textiles annual expo held in Ho Chi Minh City. Also known by its full title, “The International Fair on Garments and Textiles Equipment and Accessories,” Saigon Tex brought together over 500 businesses from 22 countries.  This year’s event was more popular than ever, with a 40 percent increase in the number of businesses attending and a 30 percent increase in the display area.

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Ho Chi Minh City Government Presents Clear Plan for Future Economic Growth

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HCMC – Ho Chi Minh City (HCMC), Vietnam’s economic heart, has recently announced a comprehensive plan for socio-economic development through 2020.

This plan will ensure that the city, in the words of the HCMC People’s Committee, “will strive to become a multi-functioning economic, social and cultural center with [a] modern infrastructure system by 2020.”

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Asia Briefing Bookstore Catalogue 2013