At present, the above ground stretch of the first metro line from Ba Son station to Long Binh depot has completed 70 percent of work volume. However, import equipment for rail track installation has been stuck at a seaport because of tax problems. Mr. Le Nguyen Minh Quang said that formerly the Ministry of Finance announced that import items for construction of the metro line would be exempt from tax payment. However, the ministry has recently informed that it is reconsidering the tax exemption. The People’s Committee of HCMC has worked with HCMC Customs Division and reported to the General Department of Vietnam Customs to solve the issue to ensure that the project can go on schedule. Director of Ben Thanh-Suoi Tien metro line project Duong Huu Hoa said that 8,000 sleepers are manufactured at a plant in Ben Luc district, Long An province. Rail tracks will be first installed from Phuoc Long station to Thu Duc district. Japanese contractors are now … [Read more...]

Speaking at a meeting with leaders of the Department of Science and Technology and startup community in the city, the politburo member required them to improve policies to prevent startups from leaving Vietnam to other nations with better policies such as Singapore to start their business. The city should have land fund for innovative startups to continue developing, required Mr. Nhan. Reporting at the meeting, director of the Department of Science and Technology Nguyen Viet Dung said that besides assisting businesses to apply science and technology in management, production and trading, the agency has sped up implementation of a startup ecosystem with mechanisms encouraging innovative startup operations. In 2017, the agency has established four executive boards of the ecosystem in four key fields of the city namely information technology, mechanism-automation, food and foodstuff processing, chemical-plastics-rubber. Through the boards, 938 startup … [Read more...]

At a meeting in August, chairman of the city People’s Committee Nguyen Thanh Phong assigned HIDS to submit a project on the feasible solutions in September. The requirement was repeated at a socio economic meeting in the first eight months this year on September 5. In fact, rotational shiftwork has been applied since 2001. In October 2007, the city People’s Committee put this measure into an urgent project to reduce traffic jam and accidents. However the project was not approved by the city People’s Council so the committee has just implemented it in some localities, areas and streets. The Department of Education and Training has applied rotating class times for primary, secondary and high schools with the deviation of 15 minutes among educational stages. In addition, the education industry has required schools in the same area to work together to rotate their class times to reduce traffic jam. This solution has proved to be effective as traffic jam … [Read more...]

Prime Minister Nguyen Xuan Phuc, secretary of the Government’s Civil Affairs Committee, presided over the meeting which was attended by deputy prime ministers, secretary of the HCMC Party Committee Nguyen Thien Nhan and leaders of some ministries and agencies. Stating at the meeting, Mr. Phuc appreciated the city Party’s Committee for requiring relevant sides to build reports on five years implementation of the resolution and a project on specific mechanisms for the city on the spirit of the city for the country and the country for the city. He emphasized the city’s important role as the country’s largest economic hub, motive force of the southern key economic zone and human resource training center of the southern region with large universities. City achievements have been estimated to be great by the Party and the State, he affirmed. Still socioeconomic situation has many limitations and continues meeting difficulties and … [Read more...]

According to statistics from the Ministry of Planning and Investment, foreign direct investment (FDI) capital in the real estate market was estimated to reach US$1.3 billion in 2016. Since early 2017, the field has continued receiving a huge FDI volume through big M&A deals. In January, it reached $297.4 million accounting for 21.2 percent of total FDI capital. Foreign investors have mainly poured capital in the real estate market through joint ventures with local companies who have available land fund. Among big deals, Thai Hemarai Land & Development Group and Civil Engineering Construction Corporation No. 4 have established a joint venture to develop an industrial zone worth $1 billion over 3,200 hectares in Nghe An province. Japanese Aeon Mall Group has worked with Vietnamese BIM Group to develop the second commerce center of Aeon worth $200 million in Hanoi over 16.7 hectares. China Fortune Land Development Group has purchased shares in 198.5 … [Read more...]

SCG is developing a firmer foothold in Vietnam with the recent resumption of its Long Son Petrochemicals complex, first licensed in 2008. The SCG-backed Long Son Petrochemicals Complex marks a new era in the Thai firm’s local co-operation The group has recently signed a memorandum of understanding (MoU) with Vietnam National Oil and Gas Group (PetroVietnam) to push forward a $5.4 billion project - Long Son Petrochemicals (LSP) in the southern province of Ba Ria-Vung Tau. Positioned as Vietnam’s first petrochemical complex, LSP will accommodate a flexible feedstock with olefin production capacity of 1.6 million tonnes per year.      The complex is equipped with proven processes from leading international licensors, while its business operations strictly follow international safety standards … [Read more...]

Old Navy, one of the famous brands under Gap Inc. from the US, officially opened its first store in Hanoi at a prime location in Vincom Nguyen Chi Thanh. RELATED CONTENTS: Domestic brands held at gunpoint by international fashion brands Vietnamese fashion brands lose ground amid foreign arrivals Vietnam leatherware makers make a mark International fashion brands target VN market Garment manufacturers feel pressure from foreign fashion brands In particular, Old Navy debuted on September 1. On … [Read more...]

Despite having fallen to the fourth position in terms of foreign direct investment in the first eight months of 2017, the real estate sector remains the second-biggest recipient of this type of investment to date. Though realty is fourth in FDI for eight months, it remains the second-largest earner overall Photo: Le Toan According to the Ministry of Planning and Investment’s Foreign Investment Agency, between January and August 20, the real estate sector stood in fourth with regards to foreign direct investment (FDI) inflows – with 46 newly-registered projects and 15 others increasing their capital, totalling more than $1.16 billion. Real estate FDI is behind the sectors of manufacturing and processing ($11.69 billion), power processing and distribution ($5.36 billion), and mining ($1.28 … [Read more...]

More international groups are rushing to supply medical equipment for healthcare facilities in Vietnam to cash in on the lucrative medical equipment market, which is forecast to hit $1.4 billion in value in 2018. The opening ceremony of VIDEC 10 In late August 2017, the 10th Vietnam International Dental Exhibition and Congress (VIDEC 10) was held in Hanoi. Titled “Innovation in Dentistry,” VIDEC 10 is the largest international annual dental event in Vietnam with internationally-recognised prestige, co-hosted by the Vietnam Odonto-Stomatolo Association (VOSA), the National Hospital of Odonto-Stomatology (NHOS), and the World Dental Federation. The three-day event lasting from August 23 to 25 attracted more than 110 companies to an international dental exhibition with over 280 booths, introducing advanced and modern … [Read more...]

NDO – An art programme entitled ‘Forever Shining the National Flag’ was held in Ho Chi Minh City on the evening of September 2 to celebrate the 72nd anniversary of Vietnam’s National Day (1945-2017). The event was attended by Politburo member and Secretary of Ho Chi Minh City Party Committee Nguyen Thien Nhan, Chairman of the city People’s Committee Nguyen Thanh Phong, and other officials. Performances at the programme recalled historic milestones in the country’s glorious history from the August Revolution in 1945, the national struggles against foreign invaders to the country’s development and international integration today. Participating artists also praised President Uncle Ho and the clear-sightedness of the Communist Party of Vietnam through beautiful melodies. Yesterday evening, the eighth national concert named “Dieu Con Mai” (Things Everlasting) was organised at the Hanoi Opera House, … [Read more...]