Delegates press button to kick-start construction on Formula One (F1) Hanoi Grand Prix racetrack in Ha Noi on March 20. — VNA/VNS Photo Construction started on the Formula One (F1) Hanoi Grand Prix racetrack in Ha Noi’s Nam Tu Liem district on March 20. The circuit will be more than 5.5km in length, with 22 turns. It will stretch over part of the My Dinh Sports Complex, while one section will be part of a public road. This track will be designed by the Formula One Group and Germany’s Tilke company, meeting all technical and safety requirements as regulated by the International Automobile Federation (FIA). In addition, an area has been zoned off for the construction of a control centre, a grandstand, warehouse, parking lot and helipads to serve racing teams and spectators. Chairman of the Ha Noi People’s Committee Nguyen Duc Chung emphasised that Hanoi believes the world’s most attractive race will be organised on schedule and meet the expectations of … [Read more...] about Work begins on F1 racetrack in Ha Noi
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Tech drives Viet Nam investment
The man works in the steel pipe factory of Hoa Phat Group JSC. Hoa Phat is among the top 10 most profitable companies in Viet Nam. — VNA/VNS Photo Ngoc Ha A Viet Nam Report survey on the 500 most profitable companies in the country said most business insiders expect technology to remain the leader in attracting investment. The survey announced the Profit500 Ranking for Viet Nam in Ha Noi on Monday. Technology was the most common answer among enterprises (51.4 per cent of respondents), construction and real estate (40 per cent) and retail (34.3 per cent). In the Profit500 Ranking, the companies with the highest average pre-tax profits are in telecommunications, information and technology. The enterprises have the potential to show stable growth profit indicators. While the world is moving towards the Fourth Industrial Revolution, the application of technology in Vietnamese businesses is still in its early stages due to lack of capital, infrastructure and a skilled workforce. The … [Read more...] about Tech drives Viet Nam investment
Vietnamese start-up Cricket One Inc to represent Viet Nam at Future Food Asia event
Start-up company Cricket One Inc will represent Viet Nam at the Future Food Asia Award event on May 23 in Singapore with an initiative to farm crickets as a high-protein food source. Cricket One Inc won top prize at the Mekong Agritech Accelerator (MATCh) programme. A total of 13 start-ups from the region, as well as international firms proposed agritech solutions at the Greater Mekong Subregion Leaders Summit in Ha Noi last month. The insect farming industry is a promising form of sustainable food production. It not only requires a low water usage, but also low land use, feed use, and GHG emissions, according to Nam Dang, co-founder of Cricket One. “We understand the struggle endured by poor farmers and we have committed to work together with them to improve their livelihood. We lease out the integrated container units so that farmers can utilise their agricultural by-products to grow crickets productively, and we can also teach them the best practices in farming crickets, using … [Read more...] about Vietnamese start-up Cricket One Inc to represent Viet Nam at Future Food Asia event
Ha Noi’s condo market booming
Positive market sentiments in the condominium industry in 2017 continued into the first quarter of 2018, according to CBRE Viet Nam’s Ha Noi property market report for the first quarter (Q1) of this year, released in Ha Noi on Tuesday. Positive market sentiments in the condominium industry in 2017 continued into the first quarter of 2018. - Photo baoxaydung.com.vn Reviewing overall sales, 6,600 units were recorded as sold during Q1, up 5 per cent year-on-year (y-o-y). Of note, some projects by foreign developers are actively promoted in international markets, such as Singapore and Hong Kong, which helped boost sales performances. Meanwhile, in the domestic market buyers are showing greater concern about building safety after an earlier condominium fire in HCM City. Safety has now become a first priority for buyers who are considering purchasing in a condominium project. Nguyen Hoai An, Director of Professional Services at CBRE Viet Nam’s Ha Noi branch, said at a … [Read more...] about Ha Noi’s condo market booming
Viet Nam ride-hailing firms gear up to compete with Grab
After Grab’s takeover of Uber on March 26, some Vietnamese transport businesses are taking advantage of an opportunity to invest in the lucrative ride-hailing market. Pham Van Dung, head of TaxiGo application development, told the online newspaper dealstreetasia that Grab’s acquisition of Uber’s entire business in Southeast Asia is creating opportunities for other local businesses. “Customers always want to have different options,” he said. “The acquisition of Uber will bring us as well as the other parties an opportunity to participate more deeply in the market.” VATO allows customers to bargain price Tran Thanh Nam, the founder of Vivu Technology Development JSC, told Viet Nam News that Uber’s decision to withdraw from Southeast Asia prompted businesses to increase investment in ride-hailing applications. Nam also revealed that Phuong Trang Tourism Service and Transport JSC has invested almost US$100 million into Vivu and renamed it … [Read more...] about Viet Nam ride-hailing firms gear up to compete with Grab