By Dat Nguyen  June 17, 2019 | 08:04 am GMT+7 An artist's impression of the King Bay Sa Huynh resort. Photo courtesy of Quang Ngai authorities. Quang Ngai has approved in principle two tourism projects which together cost almost VND1.49 trillion ($63.9 million). The King Bay Sa Huynh resort, invested in by Vietnamese investment firm King Bay, is estimated to cost VND1 trillion ($42.76 million). It covers an area of 96 hectares, of which 45 hectares are protected forests in Duc Pho District, 48 kilometers to the south of Quang Ngai City. The resort will have apartments, villas, hotels and a palace, along with water sports and parks. The second project, Thach Ky Dieu Tau, covering over 16 hectares, will include hotels, restaurants, bars and other attractions. Located in a travel spot with the same name, the VND487 bililon ($20.9 million) project will be invested in by two Vietnamese investment firms: Blacksoil Vietnam and Phu Yen Ecotourism Investment Jsc. … [Read more...] about Central province okays two tourism projects worth $64 mln
Growing Chinese investment in Việt Nam: time to worry?
Workers at China's AKA Homewares Company in the southern Long An Province. VNA/VNS Photo Danh Lam HÀ NỘI – Chinese companies are accelerating investment in Việt Nam – but some local businesses are voicing concerns. Foreign investment hit a four-year high of US$16.7 billion in the first five months of this year, up 69 per cent compared to the same period in 2018. Chinese investment made up 42.5 per cent of the total according to data released by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. If including Taiwan’s investment, Chinese investors poured nearly $7.7 billion in Việt Nam, surpassing South Korea, Singapore and Japan to become the biggest foreign investor. In its recent report, the FIA says the trade tensions between China and the United States has a significant impact on the shift of Chinese investment. Investments from mainland China and Hong Kong increased … [Read more...] about Growing Chinese investment in Việt Nam: time to worry?
Building common boat for one’s own interests
The Hanoitimes - Ironically for the US, the more problems the US caused to Russia and China, the closer and stronger the relationship between Russia and China would become. China's President Xi visited Russia for the eighth time and according to Mr. Xi, he and Russia's President Vladimir Putin have since 2013 met each other almost 30 times. It is easy, when it is not very easy, to see the cordiality of the relations between these two neighboring countries have been undergoing. President Xi Jinping (R) holds talks with his Russian counterpart Vladimir Putin on the sidelines of the Second Belt and Road Forum for International Cooperation in Beijing, April 26, 2019. Photo/Xinhua But just now, it is much more important, necessary and urgent for both to close their ranks and to intensify their cooperation. Both Russia and China are facing with challenges and difficulties caused by the US and its allies with the aim of rolling back the political, economic and also military rise … [Read more...] about Building common boat for one’s own interests
Việt Nam hosts regional cardio-metabolic education forum
Prof. Trần Hữu Dàng, president of the Việt Nam Association of Diabetes and Endocrinology, speaks at the two-day Merck Cardio-metabolic APAC Regional Education Forum that opened in HCM City on June 15. Photo Thu Hằng HCM CITY — Diabetes, as a major public health issue, will be addressed across multiple fronts, from prevention and disease management to patient care and engagement, health experts have said. Speaking at the Merck Cardio-metabolic APAC Regional Education Forum that opened on Saturday in HCM City, Prof Trần Hữu Dàng, president of the Việt Nam Association of Diabetes and Endocrinology, said Việt Nam was one of the Asian countries with a high prevalence of diabetes (5.5 per cent of the population in the ages of 20 – 79) and pre-diabetes (13.7 per cent). “However Vietnamese have a lack of awareness of the disease and prevention. “The cost of diabetes treatment in Việt Nam … [Read more...] about Việt Nam hosts regional cardio-metabolic education forum
Techcombank officially allowed to apply Basel II
Transactions at Techcombank in Ha Noi. Techcombank was the first bank to provide audited financial statements according to International Financial Reporting Standards (IFRS9). — Photo techcombank.com.vn Viet Nam Technological and Commercial Joint Stock Bank (Techcombank) has officially been given approval from the State Bank of Viet Nam (SBV) for early application of Basel II standards, raising to eight the number of Vietnamese banks meeting the global norms ahead of the SBV’s scheduled deadline of January 1st, 2020. According to the SBV’s decision, all of Techcombank’s activities will follow Circular 41/2016-TT/NNNN regulating the application of Basel II standards starting July 1st, 2019. This is good news as Techcombank has delivered year-over-year revenue growth for the past 14 consecutive quarters and ended 2018 with a Capital Adequacy Ratio (CAR) of greater than 14 per cent. Techcombank will officially adopt CAR calculations meeting Basel II standards no … [Read more...] about Techcombank officially allowed to apply Basel II