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...]

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...]

HCM City – haven for Tet foods

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A lot of speciality foods are available in HCM City ahead of Tet (the Lunar New Year). They are sold everywhere from social networks and shopping portals to shops and supermarkets, and include hundreds of items from northern, central and southern cuisines and even speciality foods from Cambodia and Laos. At shops specialising in selling northern speciality foods on Dien Bien Phu street and Van Thanh market in Binh Thanh district, Nguyen Dinh Chieu and Hai Ba Trung in District 1, customers can find scores of them. Among popular fresh foods are kohlrabi, cabbage, garland chrysanthemum, green onion, lactuca sativa, carrot, and various other vegetables. The northern vegetables have more flavour and are sweeter and tenderer than those from Da Lat. Among dried foods, vermicelli made of arrowroot startch (from So village in Hanoi), Chu noodle, pig tongue shaped dried bamboo shoot (Tuyen Quang), vau dried bamboo shoot (Bac Giang), Tam Xoan rice (Nam Dinh), thin-top mushroom (Hanoi) are … [Read more...]

Thai beer group pours $650 million in Masan Group

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VietNamNet Bridge - Singha Asia Holding Pte Ltd (Singha) has transferred $650 million to theMasan Group. Of this, $600 million is to buy 14.3% stake in Masan Consumer Holdings. The remainder, about $450 million, will be transferred later, to complete the upgrade of Singha ownership in Masan Consumer Holdings to 25%. The remaining $50 million of the $650 million amount is to purchase additional shares in Masan Brewery, to raise the ownership percentage to 33.3%. The $600 million investment in Masan Consumer Holdings will be used to purchase additional shares of Masan Consumer in the food and non-alcoholic beverages business of Masan. Thus, the percentage of ownership of Masan Consumer Holdings in Masan Consumer will increase from 77.8% to 96.7%. Singha, an affiliate of Boon Rawd Brewery, is the first and largest beer firm of Thailand. The company is producing products with different brands such as Singha, Leo, B-ing, Purra, Sanvo ... through 50 subsidiaries. Singha is also … [Read more...]

Brewery deal hops forward

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Masan Group Corporation which is listed on the Ho Chi Minh City Stock Exchange, has announced the receipt of its first investment worth $650 million from the Thai brewery partner Singha Asia Holding Pte Ltd. Of the amount, $50 million is to hold 33.3 per cent of stakes at Masan Brewery. The remaining $600 million is to retain 14.3 per cent of stakes at Masan Consumer Holdings, which will use the investment to lift its holding rate at Masan Consumer from 77.8 per cent of stakes to 96.7 per cent. In late December 2015 Masan Group Corporation (Masan) and Singha Asia Holding Pte Ltd. (Singha) signed agreements to form a strategic partnership. Upon investing $1.1 billion, Singha will own 25 per cent of Masan Consumer Holdings and 33.3 per cent of Masan Brewery. Masan Consumer Holdings will own the remaining 66.7 per cent of Masan Brewery. The transaction is expected to be concluded by February 2016. The balance of the investment package, worth $450 million, will be transferred to raise … [Read more...]

HCMC, haven for Tet foods

Customers shop at Co-opmart Nguyen Dinh Chieu in HCM City. — VNA/VNS Photo Thanh Vu

HCM CITY (VNS) — A lot of speciality foods are available in HCM City ahead of Tet (the Lunar New Year). They are sold everywhere from social networks and shopping portals to shops and supermarkets, and include hundreds of items from northern, central and southern cuisines and even speciality foods from Cambodia and Laos. At shops specialising in selling northern speciality foods on Dien Bien Phu Street and Van Thanh Market in Binh Thanh District, Nguyen Dinh Chieu and Hai Ba Trung in District 1, customers can find scores of them. Among popular fresh foods are kohlrabi, cabbage, garland chrysanthemum, green onion, lactuca sativa, carrot, and various other vegetables. The northern vegetables have more flavour and are sweeter and tenderer than those from Da Lat. Among dried foods, vermicelli made of arrowroot startch (from So village in Ha Noi), Chu noodle, pig tongue shaped dried bamboo shoot (Tuyen Quang), vau dried bamboo shoot (Bac Giang), Tam Xoan rice (Nam Dinh), thin-top … [Read more...]

Vietnam’s beer output rises 4.7% to 3.4bn liters in 2015

Beer production in Vietnam reached 3.4 billion liters last year, a 4.7% year on year increase, according to a report released by the Vietnam Beer Alcohol Beverage Association (VBA) earlier this month. Including the 2015 figures, the Vietnamese brewery industry achieved an average of seven percent in annual growth between 2011 and 2015, the VBA said. Currently, there are approximately 129 brewery production facilities across the country, many of which are large-scale plants with an annual capacity of 200 to 400 million liters, such as the Cu Chi Brewery Plant under Saigon Beer-Alcohol-Beverage JSC (Sabeco), the Vietnam Brewery Plant in Ho Chi Minh City, and the Me Linh Brewery Plant under Hanoi Beer-Alcohol-Beverage JSC (Habeco) in Hanoi. According to the VBA, the total annual capacity of the local beer industry has to this point reached about 4.8 billion liters. Vietnam currently imports about three million liters of beer and exports 70 million liters per year. With regard to … [Read more...]

Vietnam’s beer output rises 4.7 percent to 3.4bn liters in 2015

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Beer production in Vietnam reached 3.4 billion liters last year, a 4.7 percent year on year increase, according to a report released by the Vietnam Beer Alcohol Beverage Association (VBA) earlier this month. Including the 2015 figures, the Vietnamese brewery industry achieved an average of seven percent in annual growth between 2011 and 2015, the VBA said. Currently, there are approximately 129 brewery production facilities across the country, many of which are large-scale plants with an annual capacity of 200 to 400 million liters, such as the Cu Chi Brewery Plant under Saigon Beer-Alcohol-Beverage JSC (Sabeco), the Vietnam Brewery Plant in Ho Chi Minh City, and the Me Linh Brewery Plant under Hanoi Beer-Alcohol-Beverage JSC (Habeco) in Hanoi. According to the VBA, the total annual capacity of the local beer industry has to this point reached about 4.8 billion liters. Vietnam currently imports about three million liters of beer and exports 70 million liters per year. With … [Read more...]