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South Korea’s Top Retailer to Open Branch by 2013
Jul. 24 – South Korea’s top retailer, Lotte, has confirmed that it will be expanding to the Vietnamese market when it opens its first branch in 2013. The Lotte trade center will be located in Hanoi in partnership with the Coralis SA Company and spanning 65 floors. The building itself will cost an estimated US$280 […]
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Two Japanese Firms Banned for Collapsed Bridge
Jul. 22 – Vietnam’s Ministry of Transport has banned the Japanese firms, Taisei and Kajima, from construction projects in the country for a year because of the collapsed Can Tho Bridge that killed and injured many. The head of the quality control department at the Ministry of Transport, Tran Quoc Viet, told Thanh Nien News […]
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Licenses Revoked at Moc Bai Border Gate Economic Zone
Jul. 20 – The southwestern province of Tay Ninh has canceled 22 investment project licenses for the Moc Bai Border Gate Economic Zone hampered by delays. Phan Minh Thanh, the head of the zone’s management board, told Thanh Nien News that some of the projects had problems with capital shortages while others were delayed because […]
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Vietnam, Russia Launch Trade Website
Jul. 17 – Vietnam and Russia are cooperating on a trade website that was launched this week to increase bilateral business. The website is a joint project between the VCCI and the Vietnamese Russian Business Council. It serves as a way for Russian businesses to familiarize themselves with the Vietnamese market and its ensuing business […]
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Vietnam Tops Business Confidence Survey
Jul. 16 – A survey conducted by banking company, HSBC, showed Vietnam as having the most optimistic small and medium-sized enterprises (SMEs) in the region. The HSBC Emerging Markets Small Business Confidence Monitor tallied the answers of more than 3,400 SMEs in Asia, Latin America and the Middle East. Respondents in the Asian region included […]
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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 […]
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E-Customs Clearance Process Still Limited
HO CHI MINH, Jul. 14 – Despite being offered on a trial basis in Ho Chi Minh City and Hai Phong since 2005, the e-customs clearance service is still bogged by inefficiencies and delays. City customs departments are ill-equipped to handle the surge of applications because of insufficient bandwidth capacity sometimes aggravated by the country’s […]
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Maryland to Open Business Recruitment Office
Jul. 13 – The American state of Maryland will soon establish an economic development office in Vietnam. The office will be managed by the Meiwah International Holdings, an importer-exporter company, that will be charging fees by commission and seeking out business opportunities for the state in Vietnam. Previously, the state set-up recruitment offices in South […]
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China Signs US$430 Million Power Plant Construction Deal
Jul. 9 – China’s Wuhan Kaidi Electric Power has agreed to build the Mao Khe thermo-electric power plant in Quang Ninh Province for US$430 million. The power plant project is backed by the Vietnam National Coal and Minerals Industrial Group with a capitalization of VND9,315 billion. When it is finished in 2012, the plant will […]
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Largest Software Park Approves US$316.45 Million Worth of Projects
By Fan Feng Jul. 9 – The country’s largest software park and high-tech industrial area, Hoa Lac Hi-Tech Industrial Zone, has approved the investment licenses of four projects worth a total of US$316.45 million. Shipbuilder Vietnam Shipping Industrial Group invested US$85.6 million for the Vietnam Ship Research Institute to house its national research and design […]