Most modern cemetery in Vietnam, new threat to Dong Nai river

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VietNamNet Bridge - It remains questionable why the cemetery project near the Dong Nai River which threatens the life of the river, has been approved. In early July 2011, Dona Coop announced the project on building a cemetery which is expected to be the most modern one in Vietnam, to be located on the advantageous position in accordance with oriental geomancy. However, worries and doubts have been raised about the feasibility of the project. The position which the investors calls "advantageous … [Read more...]

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Social News 31/10

Ventilator donated to City hospital The New Zealand-based Julie Ferne Memorial Trust donated a Newport e360 ventilator to the Children Hospital 2 in HCM City yesterday, making it the first medical equipment donation made by the Trust to the hospital. The Preston family partnered with VinaCapital Foundation (VCF) to procure the ventilator and to ensure that the equipment will be used and maintained properly. Since 2012, the Julie Ferne Memorial Trust has raised funds from around the world to … [Read more...]

HCMC hosts week of listening to tax payers

Tax payers arrive at the HCMC Taxation Department Office asking about tax policies and related administrative procedures (Photo: SGGP)

Ho Chi Minh City Taxation Department and sub-departments in 24 districts have hosted a week of listening to tax payers from October 27 to November 2. During the week, the department and 24 sub-departments arrange three to five officials at the most advantageous positions in front of their headquarters for answering tax payers' questions and complaints. … [Read more...]

Big companies ready to invest in SOEs with substantial land holdings

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VietNamNet Bridge - Though many state-owned enterprises (SOEs) are unprofitable, investors still see them as attractive, thanks to their advantages in business fields and large land funds. All 120 million shares that the SOE Vinatex planned to sell to strategic shareholders, for instance, have been sold to two private enterprises, Vingroup and VID Group. The decision by the two investors show that SOEs are attractive, despite their lackluster business performance. A senior executive of a … [Read more...]

Dong Nai invests $9.4 mil in Go Dau Seaport’s wharf

Dong Nai Port Joint Stock Company started construction of a 30,000 DWT wharf at Go Dau Seaport in the southern province of Dong Nai on September 23. VND200 billion (US$9.4 million) will be spent on the 282 meter long wharf, which is expected to come into operation in the third quarter next year. The wharf will serve cargo loading demand of Tan Rai aluminum plant in the neighboring province of Lam Dong, and businesses from Go Dau B Port and Go Dau and Long Thanh industrial zones. It will make … [Read more...]

Foreign retailers challenge domestic manufacturers

Retailers from Thailand, Japan and the Republic of Korea (RoK) are rushing to enter the Vietnamese market, putting pressure on domestic manufacturers, according to an article published on the English language news portal VietNamNet Bridge. The Japanese Aeon retail group, for example, has recently received a licence for the development of a shopping mall in Hoa Lam Shangri-La Hi-tech Park in Binh Tan district, Ho Chi Minh City. With the project, it plans to pour another 128.5 million USD into … [Read more...]

Korean Lotte Center joins retail market in big way on National Day

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VietNamNet Bridge - The developers of Lotte Center may have decided to open their new shopping mall on National Day on September 2, to attract numerous visitors. However, analysts believe they chose the wrong time to open their mall. Lotte Center, the $400 million 65-storey building, made its debut while the country is still in economic recession, and at a time when shopping malls are experiencing tough days. … [Read more...]

Effervescently competing

Athlete Le Minh Canh (Khanh Hoa province) coming first in the male 10km content

In the morning of August 17th, the traditional Open Cross-running marathon by Phu Yen Newspaper was commenced at the provincial labor cultural house. … [Read more...]

Industrial Zones: Concentrating on Creating Clean Land Fund for Industries

Rach Mieu bridge has been opened for traffic, facilitating transportation in Ben Tre, thus luring more investors into Ben Tre, especially into its industrial zones.

By now, Ben Tre has established two industrial zones (An Hiep industrial zone, Giao Long industrial zone), investment certificates have been granted to 38 projects with total registered capital of VND9,597 billion; of which there are 21 FDI projects with registered capital of US$327.6 million. Foreign investors come mainly from Thailand, Japan and Korea. Currently, An Hiep industrial zone has rent 100 percent of its industrial land; Giao Long industrial zone has rent 95 percent in the first … [Read more...]

Trang Tien Plaza to undergo renovation

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VietNamNet Bridge - Big sale programs are being run at all the stalls of Trang Tien Plaza prior to its renovation, just 16 months after it resumed operation in April 2013. Prior to that, it underwent a restructuring after it changed hands to a new investor, who reportedly poured VND400 billion to renew it. … [Read more...]

Signs and billboards of the economic times

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VietNamNet Bridge - These are hard times for the outdoor advertising industry. Revenue from outdoor advertisements has decreased dramatically. Billboards which once flicker nightly now remain dark and quiescent in both day and night. Nguyen Quy Cap, Chair of the HCM City Advertisement Association, noted that advertisement is an industry whose fortunes are tied closely to those of the national economy. … [Read more...]

Vietnam contributes to the success of the World Economic Forum on East Asia

Prime Minister Nguyen Tan Dung arrived in the Philippines (photo: VGP)

(VOVworld) - Prime Minister Nguyen Tan Dung is attending the World Economic Forum (VEF) on East Asia in the Philippines, along with some 450 delegates who include world political, economic and social organization leaders. The forum is a venue for Vietnam and other countries to boost initiatives and cooperative frameworks to improve the forum's quality and Vietnam's relations with WEF member countries. East Asia is considered the locomotive of the global economic recovery amidst such … [Read more...]

Vietnamese coffee drinkers prick Starbucks’ bubble

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VietNamNet Bridge - The US café giant Starbucks was thought by many to be poised to knock out Vietnamese rivals after just a short period of doing business in Vietnam. But this has not come to pass. The "Starbucks fever" Starbucks made a noisy arrival in Vietnam in February of last year. The name "Starbucks" appeared in all local newspapers many months before it really turned up in Vietnam. The opening of its first shop in HCM City with hundreds of Vietnamese queuing up for their turn to … [Read more...]

Convenience store business attractive to foreign investors

A number of foreign investors, seeing bright opportunities springing from the free trade agreements expected to be signed in the near future, have jumped into the Vietnamese retail market to develop convenience stores, according to the English language news website VietNamNet Bridge. A Nielsen report indicates that, of the 500 convenience stores operational in Ho Chi Minh City, 60 percent are foreign invested. Most of the stores are located at advantageous positions in the city. Each store … [Read more...]

Foreign-invested convenience stores seen to threaten domestic ones

Circle K on Nguyen Du Street in District 1 is a favorite destination for HCM City dwellers. The food there is served at very reasonable prices, just VND11,000-13,000 per serving.

VietNamNet Bridge - A number of foreign investors, seeing bright opportunities springing from the free trade agreements expected to be signed in the near future, have jumped into the Vietnamese retail market to develop convenience stores. A Nielsen report indicates that, of the 500 convenience stores operational in HCM City, 60 percent are foreign invested. Most of the stores are located at advantageous positions in the city. Each store covers an area of at least 60 square meters, typically … [Read more...]

Retail chains live well, separate shopping malls get worn out

The first Robins center of the Thai Central Group on the 10,000 square meters on the B1 basement of Royal City Shopping Mall in Hanoi is getting ready.

VietNamNet Bridge - While a lot of shopping malls in Hanoi and HCM City are deserted with idle premises, big retail chains have been fully occupied, though the business of some tenants does not go well. Famous fashion brands continue expanding business Alan Thomson, President of Robinson Department Store Public, which manages Robins center in Vietnam, said about 100 fashion brands would be present here. These include Puppies and Scholl (shoes), "Gift Gate Sanrio" (children's products), or … [Read more...]

Quang Ninh to Host Int’l Science Seminar on Special Economic Zone Development

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The International Science Seminar (ISS) on the Development of Special Economic Zones (SEZ) - Experience and Opportunity will be jointly held by the Steering Committee of International Seminars of Quang Ninh Province of Vietnam and the SEZ Research Centre of Shenzhen University, Guangdong Province, China on March 20 and 21, 2014. This is the first ISS under the global SEZ development forum to be organised in Vietnam. It is an opportunity for central agencies, Quang Ninh province and other … [Read more...]

HCM City, Japan’s Nemuro boost fishery cooperation

Ho Chi Minh City wants to boost its bilateral partnership with the Japanese city of Nemuro, especially in agriculture and fisheries. Vice Chairman of the municipal People's Committee Le Manh Ha made the remark at a reception for visiting Mayor of Nemuro city Shunsuke Hasegawa on January 24. At the reception, Ha said HCM City attaches importance to promoting its collaboration with Nemuro and other Japanese localities, adding that many Japanese firms are effectively operating their businesses … [Read more...]

Investments from China could be the double edge knife

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VietNamNet Bridge - Chinese investors have been flocking to Vietnam, pouring money into the two main business fields - textile & garments and real estate. Troy Griffiths from Savills Vietnam has confirmed that the real estate consultancy firm received a lot of Chinese investors who are seeking to purchase real estate projects. The great potentials can be brought by the investors from Japan and South Korea, but the investors from China would be in the focus. A report of the Foreign … [Read more...]

Retail premises in high demand, cheaper than ever

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VietNamNet Bridge - Retailers hunting for retail premises to open shops to enlarge their distribution networks, have bubbled over with joy as a lot of products have been put on sale, with very reasonable prices. A lot of businesses decided to sell parts of their land funds to get capital for investment. Commercial banks have put houses and land, which were the collaterals for loans, on sale, to collect debts. These could be the golden opportunities for retail chains to grab to expand their … [Read more...]