Ho Chi Minh City

New Border Economic Zone Approved for Southern Province

Jul. 7 – Authorities have given the go signal to build a border gate economic zone (EZ) located in the southern province of Dong Thap to facilitate trade within the Mekong region.

The EZ is slated to be developed to cater to industrial production, trade, tourism, agriculture, forestry and fishery in a total area of 31,936 hectares. The zone will span the districts of Hong Ngu and Tan Hong including international border gates Thuong Phuoc and Dinh Ba along the Vietnamese-Cambodian border. Continue reading →

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Vietnam Advised to Improve Industrial Park Services

Jun. 29 – Vietnam was advised to develop its industrial parks to offer more services to entice more foreign investors to come in.

According to Marc Townsend, the general director of CB Richard Ellis Vietnam, industrial parks in the country should be equipped with trade centers, offices, apartments, hotels and other logistics services in addition to production facilities. Despite charging cheaper rent for its industrial parks compared to other Asian neighbors like China, Vietnam lags behind in offering auxiliary services to support businesses. Continue reading →

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

French Company to Develop US$600 Million Road Project in Vietnam

Jun. 28 – French company VINCI Construction Grands Projects recently signed a memorandum of understanding with Deo Ca Investment JSC to develop the Ca Pass tunnel and road project located in the north-south corridor between Ho Chi Minh City and Hanoi.

The US$600 million project will make it safer to travel the mountain pass located in the corridor. The company will expand the road connecting the major cities by nine kilometers as well as build an 11 kilometer section that will feature one 5.5 kilometer and 0.35 kilometer tunnel, three bridges and approach roads. Continue reading →

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Biggest Cold Storage Facility in the Region Opens in Ho Chi Minh City

Jun. 22 – The largest cold storage facility in Southeast Asia opened in Ho Chi Minh City last week to provide services to the country’s local and foreign aquaculture and food companies.

The US$28 million facility was built by U.S.-based Preferred Freezer Services as part of its strategic plans to expand into Asia in the next 36 months. Continue reading →

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Singapore’s Capitaland to Double Investments in Vietnam

Jun. 8 – Singapore-based real estate giant Capitaland, the largest developer in Southeast Asia, is planning to double its investments in Vietnam over the next three to five years to US$2.5 billion.

New projects will include affordable housing and shopping malls across Vietnam’s key cities like Hanoi and Ho Chi Minh City, Capitaland CEO Liew Mun Leong told reporters at the sidelines of a meeting with government officials in Hanoi. Capitaland currently maintains roughly US$1.2 billion in real estate projects throughout the country. Continue reading →

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Vietnam ‘All In’ as Casinos, Service Industry Bet on Ba Ria-Vung Tau

By Joe Drury

Jun. 3 – The winds of change are sweeping across Ba Ria-Vung Tau Province in Vietnam’s booming southeast economic region, and they are fragrant with the scent of gambled winnings and Dom Pérignon.

Traditionally an industrial center of Vietnam, a recent flood of service sector investment hopes to transform the local economy into an international tourist’s dream of luxurious living and gambling. Continue reading →

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Saigon High-Tech Park Expands to Second Phase

May 5 – The Saigon High-Tech Park (SHTP) will soon begin work on its second phase to expand the park by 613 hectares to include a high-tech manufacturing area, a research and development and a business incubation area to name a few.

The park’s new development will cost about US$300 million to build. The first phase of the SHTP has been operational for four years and is already 95 percent occupied. It is one of the only two high-tech parks in the country with the other one, Hoa Lac High-Tech Park, situated in Hatay Province. Continue reading →

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Longest Cable-Stayed Bridge in Southeast Asia Opens in Vietnam

Apr. 27 – Vietnam inaugurated the longest cable-stayed bridge in the Southeast Asian region on Saturday connecting the Hau River in the Mekong Delta with Can Tho City and Vinh Long Province in southern Vietnam.

The project was completed with the help of a preferential official development assistance for socio-economic development and infrastructure upgrading from the Japan International Cooperation Agency. Continue reading →

Posted in Automotive, Business, Economy and Politics, FDI and Foreign Trade, Ho Chi Minh City, Shipping & Logistics | Leave a comment

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

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 →