Singaporean firm keen on Vietnamese real estate

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Singapore’s Cityneon Holdings, Limited has opened a representative office in Ho Chi Minh City as part of its expansion strategy to capture a large share of Vietnam’s lucrative real estate market. The office, located at the Saigon Trade Centre in HCM City District 1, will also serve as the company’s launch pad to penetrate Cambodia and Laos. Cityneon Managing Director Ko Chee Wah said that the presence of its office in Vietnam reflects his company’s long-term commitment to establishing a firm foothold in the country’s fast-growing real estate development market. “We are very excited about doing business in Vietnam as it is a promising market, thanks to its continued economic growth, and also the gateway to other markets in the region,” Ko said. Cityneon has also won a contract worth US$5 million to participate in the MGM Ho Tram project in the southern province of Vung Tau. By getting involved with Singaporean and Japanese firms working … [Read more...]

Dubai group to develop $30billion property project in Vietnam

(VOV) -Global Sphere, a Dubai-based development company, has launched a US$30 billion "Hanoi Wall Street" real estate project that will cover an area of 35 sq km. Foreign investment pours into real estate market Singaporean firm keen on Vietnamese real estate Global Sphere Board Chairman Dr Abdullah Al Sayegh said the project is an integrated complex with a total value estimated at US$30 billion. The first phase, valued at US$10 billion, is expected to be finished by 2020. The project, 4 km from Noi bai International airport, is the largest Vietnamese venture invested by an UAE-based company. Its completion is scheduled for 2030. The engineering plan for the project resembles downtown Dubai, he said, adding that it will accommodate between 300,000 to 400,000 residents. Global Sphere consulted with UAE engineering firm NEXT. Established over 10 years ago in Dubai, Global Sphere is associated with many European and American enterprises sourcing funds for … [Read more...]

Dubai group develops $30billion property project in Vietnam

(VOV) -Global Sphere, a Dubai-based development company, has launched a US$30 billion "Hanoi Wall Street" real estate project that will cover an area of 35 sq km. Foreign investment pours into real estate market Singaporean firm keen on Vietnamese real estate Global Sphere Board Chairman Dr Abdullah Al Sayegh said the project is an integrated complex with a total value estimated at US$30 billion. The first phase, valued at US$10 billion, is expected to be finished by 2020. The project, 4 km from Noi bai International airport, is the largest Vietnamese venture invested by an UAE-based company. Its completion is scheduled for 2030. The engineering plan for the project resembles downtown Dubai, he said, adding that it will accommodate between 300,000 to 400,000 residents. Global Sphere consulted with UAE engineering firm NEXT. Established over 10 years ago in Dubai, Global Sphere is associated with many European and American enterprises sourcing funds for … [Read more...]

Singaporean businesses still keen to invest in Vietnam

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(VOV) - Despite the global economic downturn, Singaporean businesses show strong interest in investment opportunities in Vietnam as they are confident in the country's economic potential. Singapore-Malaysia JV invests in flour mill in Quang Ninh Singaporean firm keen on Vietnamese real estate The statement was made by Consul General Pong Kok Tian at a meeting in Ho Chi Minh City on August 8 to mark the 47th anniversary of Singaporean National Day. By July 2012, its total investment in Vietnam reached US$23.3 billion, ranking fourth among foreign investors. Of the figure, nearly US$5 billion was invested in HCM City alone, making Singapore the single leading investor in the city. … [Read more...]

HCM City attracts more FDI projects

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Since early this year, the Ho Chi Minh City Department of Planning and Investment has granted certificates to 129 FDI projects, valued at US$166 million in total. Binh Duong takes lead in attracting FDI Singaporean firm keen on Vietnamese real estate Real estate project tops FDI attraction list With more capital added to 28 projects already in generation, the total amount of FDI funding has reached US$450 million. Singapore has taken the lead with more than US$94 million, followed by Japan with US$20.5 million. Most newly-licensed projects are in the automobile, and science and technology sectors only a few projects are focused on in real estate, financial and banking activities. VOVOnline … [Read more...]

Vietnam to see surging FDI

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Vietnam is expecting to attract a large volume of foreign direct investment over the next five years. Deputy Minister Nguyen The Phuong stated that under Vietnam’s new strategy to draw in foreign direct investment (FDI) for the 2016-2020 period, total FDI (excluding locally-contributed capital) is expected to reach around $65.5-72.8 billion, occupying 14.7-15 per cent of Vietnam’s total development capital for the period (see table). "In order to attract such a sizeable volume of FDI, the local business climate will be further reformed in order to take full advantage of free trade agreements (FTAs)," Phuong said at a recent meeting on Vietnam’s socio-economic environment organised by the National Assembly’s Economic Committee. "A large part of this capital will come from hi-tech and environmentally friendly projects that are also labour intensive," he said. According to the Ministry of Planning and Investment (MPI), over the next five years the government … [Read more...]

Malaysia investigates dumping of steel coils from Vietnam

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(VOV) - The Malaysian Ministry of International Trade and Industry (MITI) has launched an investigation into alleged dumping of steel coils imported from Vietnam and China, following a petition filed by FIW Steel Sdn Bhd (FIW). In a prepared statement, the MITI said it has received the petition from the Malaysian producer, requesting the imposition of dumping duties on imports of pre-painted, painted and colour coated steel coils from both Vietnam and China. The petitioner alleges these steel coils are being dumped into the Malaysian market at prices much lower than those prevailing in the domestic markets of Vietnam, China or Malaysia. Further, the petition alleges the anti-competitive practices are the direct and proximate cause of both the Malaysian steel coil industry and the petitioner specifically suffering material injury. In addition, the petition alleges the absolute volume of the imports from Vietnam is causing irreparable material injury to the domestic industry and … [Read more...]

Venture investment funds pour more money into startups

Venture investment funds in Vietnam have been disbursing more money to targeted firms, particularly startups with potential, the English language news portal VietNamNet Bridge reported. Investors, for example, are interested in Appota, one of nine Southeast Asian digital content startups that most deserve investment, valued at millions of dollars. Singaporean and Japanese venture funds have obtained agreements on investing in the company. Declining to reveal the names of the two funds, Do Tuan Anh, CEO of Appota, said the fund would not only bring capital, but also other important values, including advice on long-term business strategies. … [Read more...]

Venture capital firms keen on VN internet and mobile market

Over the past two years, Vietnam's internet and mobile market has caught the attention of both major domestic and international investors, said the Vietnam Investment Review. Many venture capital firms are willing to invest in start-ups and new ideas, the newspaper said According to vice president of IDG Venture Vietnam (IDGVV) Nguyen Hong Truong, the start-up wave in Vietnam is bigger than most countries in ASEAN, especially in the internet and mobile sector. With diverse products and services, many local companies have already even expanded into overseas markets, Truong added. … [Read more...]

Singapore, Japan discuss TPP market access issues

Singaporean and Japanese officials have discussed bilateral market access issues between Singapore and Japan in the Trans-Pacific Partnership (TPP) Agreement. According to the Singapore Ministry of Trade and Industry, the discussion between Singapore's Senior Minister of State for Trade and Industry Lee Yi Shyan and the Chairman of Committee on TPP-related Measures of the Japanese Liberal Democratic Party (LDP) Koya Nishikawa took place during the latter's Singapore visit from April 14-15. The Singapore Ministry of Trade and Industry added that, the two officials also discussed ways to advance economic collaboration between both countries. Earlier, Nishikawa visited Malaysia where he called on Malaysia's Minister for International Trade and Industry Mustapa Mohamad on March 31 March.-VNA … [Read more...]

Probe deepens into river pollution scandal

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Investigations will focus on violation of environmental regulations by Taiwanese monosodium glutamate (MSG)-maker Vedan and the role of local authorities who let it happen right under their noses, officials said Monday. On Saturday, a team of federal environment marshals and inspectors from the Ministry of Natural Resources and Environment caught Vedan Vietnam in the act of dumping large amounts of untreated wastewater into the Thi Vai River in southern Dong Nai Province. The Vedan Vietnam plant, which is operating in southern Dong Nai Province, has been caught releasing huge amounts of toxic waste into the already contaminated Thi Vai River. … [Read more...]

Vietnam hub to upgrade international container port

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The Vietnam International Container Terminals in Ho Chi Minh City is to be upgraded at a cost of US$15 million by its operator - a joint venture between Vietnamese, Singaporean, and Japanese firms. The First Logistics Development Joint Venture Company will lengthen the wharf from 486 to 678 meters which will enable it to simultaneously berth four container ships. It will also modernize and install advanced facilities for loading and unloading equipment. … [Read more...]

GDP of four ASEAN nations to exceed US$1 trillion in 2030

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Malaysia, Indonesia, the Philippines and Thailand are expected to join the nations with Gross Domestic Products (GDP) exceeding US$1 trillion in 2030, according to a report released by the global information company IHS Inc. Rajiv Biswas, IHS chief economist for Asia-Pacific, said that this fact will help increase the geopolitical and economic importance of the Association of Southeast Asian Nations (ASEAN) and its economic grouping in international diplomacy and the global dialogue on trade, investment and international standards-setting. Meanwhile, the ASEAN frontier markets of Vietnam, Myanmar, Cambodia and Laos are forecast to continue to grow rapidly. The IHS study showed that Vietnam will grow at a pace of around 6.5% per year over the medium term, with rapid growth in exports of electronics and garments driving industrial development. Regarding Malaysia, the IHS report said the country is forecast to achieve a per capita GDP of US$20,000 by 2025. Biswas pointed out … [Read more...]

GDP of four ASEAN nations to exceed 1 trillion USD in 2030

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Malaysia, Indonesia, the Philippines and Thailand are expected to join the nations with Gross Domestic Products (GDP) exceeding 1 trillion USD in 2030, according to a report released by the global information company IHS Inc. Rajiv Biswas, IHS chief economist for Asia-Pacific, said that this fact will help increase the geopolitical and economic importance of the Association of Southeast Asian Nations (ASEAN) and its economic grouping in international diplomacy and the global dialogue on trade, investment and international standards-setting. Meanwhile, the ASEAN frontier markets of Vietnam, Myanmar, Cambodia and Laos are forecast to continue to grow rapidly. The HIS study showed that Vietnam will grow at a pace of around 6.5 percent per year over the medium term, with rapid growth in exports of electronics and garments driving industrial development. Regarding Malaysia, the IHS report said the country is forecast to achieve a per capita GDP of 20,000 USD by 2025. Biswas pointed … [Read more...]

VSSA proposes measures to stop sugar smuggling

Ngoc Hung VSSA said in a recent document sent to the Government that sugar was smuggled into Vietnam mainly through the borders with Cambodia and Laos and that sugar smuggling has gone almost unchecked while the capacity of anti-smuggling forces remains limited. The association suggested that smuggled sugar should be sold to those producing goods using sugar at auction rather than trading companies to prevent the latter from using the bills of the auctioned sugar to legalize their smuggled sugar. Smuggled sugar has long been spelling trouble for local sugar producers. VSSA estimated that 300,000-400,000 tons of sugar is smuggled into Vietnam a year. Local enterprises can turn out 1.5 million tons annually, enough to meet domestic demand. However, they find it hard to compete with illegally imported sugar whose prices are VND500-1,000 per kilo lower than those of local products. … [Read more...]

Vietnam among Asia’s top 10 investment hotspots: report

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Laborers work at a foreign-owned company which produces car and motorcycle parts outside Hanoi. Photo: Reuters US economic analyst IHS Inc. has ranked Vietnam among the top 10 hotspots of foreign direct investment in Asia Pacific, saying the country's economy will continue to expand at a fast pace. The country is one of the six foreign investment hubs in Southeast Asia, besides Indonesia, the Philippines, Myanmar, Malaysia and Thailand, the company said on Thursday. Others are Bangladesh, China, India and Sri Lanka. Southeast Asia will be a key factor that will help Asia Pacific achieve an economic growth of 4.5 percent a year over the next decade, it said. As frontier markets, Vietnam, Myanmar, Cambodia and Laos are forecast to continue to grow rapidly with Vietnam's pace to be around 6.5 percent annually over the next 15 years. There will be strong growth in the sectors of electronics and garment, as their exports will increase rapidly thanks to Vietnam's newly-signed free trade … [Read more...]

100 int’l students join 2016 Int’l Students Science Forum-HCMC

More than 100 outstanding students from Vietnam, Japan, Republic of Korea, Singapore, Thailand, China, Indonesia, Cambodia and Laos have joined the first International Students Science Forum - Ho Chi Minh City 2016 at the National University in Ho Chi Minh City on April 7. Under theme of "Student Integration", the forum is considered as a useful playground for Vietnamese students and Asia to meet and exchange, learn experiences by English. Many attractive activities will take place during the event such as discussions on the international science & integration, research projects in science of international students, introducing research works on science, outstanding students and volunteer activities of international students and others. During four- day event, all students will visit Saigon Hi-Tech Park, HCMC Biological Technology Center, Cu Chi Tunnel Historical Site, the War Remnants Museum in Ho Chi Minh City and the Reunification Palace; and join exchange program with … [Read more...]