Danang

U.S. Firm to Develop Resorts in Danang and Dalat

Jun. 9 – American hotel and leisure company, Starwood Hotels and Resorts Worldwide, has partnered with Saigon Invest Group to built two resorts in Danang City and Dalat town. These projects will include a 330-room Le Meridien Danang Resort and Spa on more than 8.4 hectares of land. The project will have an investment capital […]

Foreign Investment Drops by 76 Percent

May 27 – According to the Ministry of Planning and Investment’s Foreign Investment Agency, foreign investment during the first 5 months of the year dropped by 76 percent to US$6.68 billion compared to the same period last year. Only 256 new foreign-invested projects worth US$2.7 billion were licensed, a 89 percent plunge from previous figures […]

Vietnam to Upgrade its International Airports

May 6 – Vietnam plans to establish ten international airports across the country through the expansion of existing facilities and the construction of new ones, according to a recent zoning plan released by government authorities in Ho Chi Minh City. The plan, drawn up by Vietnam’s Ministry of Transportation, will include renovations and massive upgrades […]

Japan’s FamilyMart to Expand in Vietnam

Apr. 27 – In a joint venture with Phu Tai Group, the Tokyo-based convenience store FamilyMart will set up its first store in Vietnam later this year. FamilyMart’s primary shareholder, the trading house Itochu Corporation, will assist with product development and distribution in the Southeast Asian country with the goal of establishing 300 stores by […]

Vietnam’s Economy Grows by 3.1 Percent

Mar. 27 – The Southeast Asian country's economy grew by 3.1 percent during the first quarter of the year compared the same period last year as companies delay or cut investment plans and manufacturing.

The figure is the weakest on record since 1999 for which quarterly figures are available, reports Bui Ba Cuong, director of the office’s department of national accounts.

During the first quarted last year, the economy grew by 7.5 percent.“In this situation, 3 percent growth is a positive figure,” Nguyen Thi Mai Thanh, general director of Refrigeration Electrical Engineering Joint-Stock Co. told Bloomberg. “My business is not as bad as we had expected. We can live with this level of growth.”

Vietnam Market Portal to Launch In September

July 16- The Vietnamese Commerce and Information Technology are making the final preparations for the launch of a portal for foreign markets on September 1st.

The new portal also aims to attract local business.

In addition, there will be versions of the Vietnam export portal in English and other foreign languages that will showcase Vietnamese enterprises and products.