Foreign investor real estate

Invested by Fuji Phuc Long Development Co.Ltd, the 50-year project will be carried out in Hong Thai, Tang Tien communes and Nenh township in Viet Yen district, covering 50ha in the first stage. The PM asked the provincial People’s Committee to be responsible for choosing investors to carry out projects in line with legal regulations regarding investment, bidding, land and real estate trade and relevant laws, with a priority given to projects using modern and eco-friendly technologies. It must also implement compensation and site clearance, and transfer land use purpose to embark on projects as approved in terms of scale, location and progress. The committee was also assigned to direct the provincial management board of IPs to ask investors to make deposit to ensure project implementation in line with the investment law. The board and agencies concerned must also oversee the implementation of projects in line with laws on investment, land, environment, construction and real estate trade while attracting investment in IPs in accordance with approved planning. Source: VNA …

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In the last decade .their investments in Vietnam swelled by an average of 13 percent a year. By the end of last year their total investment was only around $13 billion, not enough to put Thailand in the top five list, but still managed to have large market shares in several sectors by concentrating their investment in a handful of sectors. In the retail sector, some leading supermarket chains are controlled by two Thai companies, Central Group and TCC Group. Central Group, Thailand’s leading retailer, which belongs to the Chirathivat family, started off in Vietnam as a fashion merchandiser in 2012, distributing products from brands such as SuperSports, Crocs and New Balance. In 2015, it acquired a 49 percent stake in electronics retailer Nguyen Kim through its subsidiary Power Buy. In the same year, it bought out supermarket chain Lan Chi, which operates mainly in northern rural areas. In 2016, it bought supermarket chain Big C Vietnam from France's Casino Group for over $1 billion. TCC Group, owned by the third richest man in Thailand, Charoen Sirivadhanabhakdi, bought convenience store chain FamilyMart in 2012 and renamed it B’s mart. In 2016, it bought wholesale chain Metro Cash & Carry Vietnam for €655 million ($796 million) and rebranded it as MM Mega Market Vietnam a year later. TCC Group also dominates the beverage industry after acquiring a 53.59 percent stake in Vietnam’s top brewery, Sabeco, in 2017. Fraser and Neave, Limited, a food and beverage company also owned by Sirivadhanabhakdi, is the biggest foreign shareholder in dairy behemoth Vinamilk. Siam Cement Group (SCG), which dominates the packaging industry, recently signed an agreement to buy 70 percent of Duy Tan Plastics , the largest manufacturer of rigid plastic packaging products in Vietnam. It now owns eight packaging companies in the country. SCG has over 20 subsidiaries in the cement and building materials, chemicals and packaging industries. In the livestock …

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The PM had a working session with key leaders of Tuyen Quang on February 23 after attending the launching of the tree-planting festival in the northern mountainous province. He stressed that Tuyen Quang should become an important hub of wood industry of Vietnam and the region, asking the locality to mobilize all resources for the goal. At the same time, Tuyen Quang should expand a number of other agricultural sectors, he said, suggesting that the province increase the area of sugar canes for export and call on investors to invest more in agriculture and forestry. The PM reminded Tuyen Quang, the province to pay greater attention to preserving and promoting unique cultural identities of ethnic minority groups in the locality, thus boosting the development of tourism and service sectors. PM Phuc expressed delight at dramatic changes that the province has made in the past 10 years in both urban and rural areas. However, he noted that the province has still faced many difficulties in socio-economic development and investment attraction, keeping it a poor province. On the occasion, PM Phuc visited the Tan Trao special national relic site in Son Duong district, which comprises 183 smaller relic sites having close relations with the national liberation cause in the middle of the 20th century. He also visited and presented gifts to Cao Thi Co, a Heroic Vietnamese Mother in Tan Quang ward of Tuyen Quang city and Nguyen Dinh Phung, a former revolutionary official in An Tuong ward. Source: VNA …

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