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International financiers may have no room to join Long Thanh International Airport project, with the lack of a government loan guarantee creating a major obstacle for would-be investor Airports Corporation of Vietnam to ensure bankability. The National Assembly (NA) has issued a resolution on a feasibility study for the first phase of the Long Thanh International Airport project, in which the government will offer no loan guarantee and the selected investor will instead have to manage the fund itself. The move is seen as a blow for interested lenders, often requiring such a government guarantee for initiatives of this magnitude. Vietnam has recently been working with Sweden on the possibility of mobilising a $1 billion loan from the Scandinavian country in order to invest in Long Thanh International, along with air traffic management. Like other groups, the Swedish Export Credit Corporation (SEK) is concerned about the possible risk without a government loan guarantee. Per … [Read more...] about Vietnam Airports Corporation facing risks in airport venture

Existing factors in the market, especially strong FDI inflow, all are supporting the prosperity of the industrial real estate market. According to JLL Vietnam, five leading industrial real estate markets in the southern region all had high occupancy rates, 81 percent on average in the second quarter of the year. HCM City, Binh Duong and Dong Nai were the three biggest markets. A report of the Ministry of Planning and Investment shows that in H1, the FDI capital in industrial zones and economic zones reached $8.7 billion, while the demand for industrial real estate surged significantly as a result of the US-China trade war. Meanwhile, Foxconn (Taiwan), Lenovo (China), Nintendo, Sharp, Kyocera and Asics (Japan) are considering moving. Savills’ report says that Vietnam’s industrial real estate sector is thriving because of the impacts of FTAs. Of these, CPTPP, set up in January 2019 and Vietnam-EU (EVFTA), signed in June 2019, both have helped attract more investment … [Read more...] about Industrial real estate thrives on FDI increase

Tien Hai Industrial Zone in the northern province of Thai Binh.-Photo viglaceraip.com The projects cover infrastructure and industrial production, transport – especially seaports and transportation networks in economic parks – restaurants, hotels, luxury resorts, urban infrastructure and high-tech farming. In his speech at the forum, Chairman of the provincial the People’s Committee Dang Trong Thang said his province pays special attention to attracting strategic investors including those from Singapore and will create the best possible conditions for them to operate. The locality has set aside around 8,000ha for the development of industrial zones, the chairman said. He encouraged Singaporean firms with sufficient financial capacity and business experience to invest in these areas. He added Thai Binh will continue to foster administrative reform with a focus on simplifying procedures and slashing the amount of time needed to complete necessary investment documents … [Read more...] about Thai Binh seeks Singaporean investment

"In South Korea, I can only look for jobs without much prestige, like a photocopy guy. So I decided to come to Vietnam and gain some work experience," Choi Chang-min, a 31-year-old South Korean man, told VnExpress. Choi has two bachelor’s degrees in international trade and finance and currently works as an executive assistant for a Korean company producing fashion garments for export in the northern province of Hung Yen, 54 km south of Hanoi. His main task is to make production plans and manage inventory. Choi is among 400 South Koreans who’ve moved to Vietnam to work under a program called K-Move, launched by the South Korean government to connect young Koreans to "quality jobs" in 70 countries. K-Move found overseas jobs for 5,783 graduates last year, more than triple the number in 2013, when it was first launched, Reuters reported. The unprecedented paucity of jobs at home has seen many young South Koreans, who account for about a fifth of the 51 … [Read more...] about Young South Koreans make a beeline for Vietnam as jobs dry up at home

A booth displaying industrial parts at the 2019 Vietnam Supporting Industry Fair, which is being held along with the Vietnam International Machinery Fair in HCM City from December 11 to 14 (Photo: VNA) HCM City (VNA) - The 2019 Vietnam International Machinery Fair and 2019 Vietnam Supporting Industry Fair opened in Ho Chi Minh City on December 11, offering opportunities for companies in the manufacturing and supporting industries to compare notes and explore business opportunities. Pham Thanh Kien, Director of the city Department of Industry and Trade, said the two fairs feature 300 exhibitors from 12 countries and territories, including the Republic of Korea, Thailand, Japan, Singapore, the US, UK, China, Germany and Vietnam. Thirty percent of the 460 booths are displaying supporting industry products produced by Vietnamese companies and metal products and metalworking solutions, 25 percent are showcasing automation solutions and motion control systems, industrial materials and … [Read more...] about Int’l machinery, supporting industry fairs open in HCM City