VietNamNet Bridge - A flight carrying the representative of a US-based group which runs many large casinos worldwide landed in Vietnam just days before Vietnam’s traditional Tet holiday. A closed negotiation was conducted in an effort to enter the domestic casino market. Soon after the decree came out, Vietnam became a ‘hot spot’ for the US-based Las Vegas Sands, Singapore’s Banyan Tree, Australia’s Crown and Macao’s Chow Tai Fook and Sun City. With the legal document, plus the decree on horse and dog races, and football betting, the doors to cash-prize games in Vietnam opened widely. The move by the government is seen as a solution to stop the loss of revenue from casinos and games, estimated at $800 million. This is also expected to help stop the ‘bleeding’ of foreign currencies, estimated at $200 million a year, as Vietnamese bring foreign currencies when going abroad gambling. The decree on casino will take effect in March, which … [Read more...] about New casino rule attracts big investors, new players
Big investors
City steps up efforts to attract big investors
Viet Nam News HCM CITY - HCM City has set an ambitious goal to become a value-added service centre similar to other East Asian cities, attracting investment from world-renowned corporations. In a meeting with members of the Young Presidents Organisation (YPO) earlier this week, Nguyễn Thành Phong, chairman of the city's People's Committee, said the city was committed to creating a favourable investment environment for the business community. "The goal is to help HCM City grow like other East Asian cities. City agencies will outline specific goals and strategies for development," Phong said. "If these goals aren't identified and acted upon properly, however, the effort will go to waste. I hope that businesspeople will take part in making HCM City a leading economic hub of the country." The city has been working with economic institutes and experts on development plans that will be submitted to the Government for consideration. "I expect entrepreneurs to be ready to compete with … [Read more...] about City steps up efforts to attract big investors
Big investors keen on retail market in Vietnam
The Hanoitimes - Many giant international retail groups such as Auchan, Robinson and Walmart are likely to set up more convenience stores, supermarkets and big commercial centres in Vietnam when the country completely opens its retail market next year, said the Vietnam Business Forum Magazine (VBF). Vietnam's retail market is changing extensively, becoming more modern and integrated. In the first ten months of 2014, total retail sales nationwide reached nearly 2,400,480 billion VND, up 11.1 percent compared to the same period of 2013. Total retail sales of goods and services for 2014 are projected to reach 2,970 trillion VND, up 11.3 percent compared to 2013. According to the Vietnam Retailers Association, as of 2013, Vietnam had about 724 supermarkets, 132 commercial centres, a few hundred convenience stores, nearly 9,000 markets of various kinds and about 1 million family stores. By 2020, the country is expected to have about 1,200-1,300 supermarkets, 180 trade centres and 157 … [Read more...] about Big investors keen on retail market in Vietnam
Big investors still attractive with property projects
Japan: a big investor of Vietnam
CPV: Japan is the current leading investor in Vietnam in terms of registered capital, 400 million USD in the first 7 months of this year, doubling the figure of the full year of 2004 with 61% of its registered capital has been implemented, much higher than others. At present, Japan has 3 industrial zones in Vietnam, these are Nomura (Hai Phong), Thang Long (Hanoi) and Long Binh (Ho Chi Minh City). Priority areas of Japan's Official Development Assistance (ODA) to Vietnam are growth acceleration, improvement of social and living environments and regime establishment. Japan's ODA has officially resumed Vietnam in 1991 and alone 2004 is about 92.6 billion yen. Of the figure, the loan capital was 82 billion yen, grant aid was 5 billion yen, and technology cooperation was 5.6 billion yen. From 1991 to 2004, it reached 1,108.1 billion yen, of which the loan capital is 967 billion yen, grant aid is 81.1 billion yen and technology cooperation is 60 billion yen. Japan's ODA for Vietnam makes … [Read more...] about Japan: a big investor of Vietnam