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Vietnam’s biggest conglomerate Vingroup and largest private lender Techcombank have been given the green light to conduct a pre-feasibility study on the Gia Nghia - Chon Thanh expressway. The consortium will have to submit its report by Aug. 31, according to the Ministry of Transport (MoT). Once the report is appraised and approved, the MoT will start a bid to select investors for the expressway, with Vingroup-Techcombank able to participate in the process should they want to. The expressway will stretch 212 kilometers with four-six lanes and a maximum speed of 80-100 kph. It will connect Central Highland Dak Nong and southern Binh Phuoc provinces. Another consortium, led by Deo Ca Corporation, has proposed to invest in two expressway projects in the north, Dong Dang - Tra Linh and Huu Nghi - Lang Son. Workers construct the 98-kilometers Cam Lo - La Son expressway connecting central Quang Tri and Thua Thien Hue provinces, February 2021. Photo by VnExpress/Vo Thanh … [Read more...] about Private firms eager to invest in expressways

The showroom, which will replace its old location in Truong Chinh street, will be the most advanced showroom and the first MAR 2020 facility in Ho Chi Minh City. John White, CEO at Vietnam Star Automobile, said that OfficeHaus renders the perfect space and location to cater to the auto company in the Vietnamese market. Vietnam Star Automobile is a division of LSH Auto International − the largest Mercedes-Benz retail dealer group in the world. “We have a couple of criteria in choosing the best location. Aside from being accessible, OfficeHaus sits next door to Vietnam’s largest Aeon Mall, bringing a demographic that is consistent with the Mercedes brand. The property also meets the quality standards of our brand,” said White. OfficeHaus, one of the most highly anticipated additions to Vietnam’s premium commercial real estate, will open its doors in quarter 4 this year. It will deliver a holistic working experience as part of a world-class 82-hectare integrated residential, … [Read more...] about Mercedes-Benz Vietnam set to open new showroom in OfficeHaus

A bondholder shows her ABOND bonds. Photo mns.com Bond issuers have become more cautious amid the authorities tightening control of the market, leading to issuance shrinkages. The Ministry of Finance reported that the total issuance volume of privately-placed bonds plunged to around VND30 trillion (US$1.3 billion) in April, down 33 per cent year-on-year. In the first two weeks of May, the issuance figure reached VND5.2 trillion, equaling one-third of the figure last year. Notably, realty bonds fell sharply to about VND820 billion in April, far less than their average monthly volume of VND26 trillion in 2021. The market experienced not only decreasing bond issuances but also a buyback spree. Specifically, premature bond buybacks in April alone stood at VND11.9 trillion, comparable to the figure of VND12.8 trillion in the previous three months combined. The securities firm SSI underlined the Tan Hoang Minh Group's cancellation of issuance of nine bond batches as a major … [Read more...] about Bond issuance slows amid tightening controls

A serious landslide has happened in the northern mountainous province of Thai Nguyen, causing 22 local residents to be evacuated. The incident occurred in Cho Chu Town in Dinh Hoa District on Thursday morning. A large amount of soil and rock fell from Tan Mountain onto a road. A local house’s gate was damaged by the rocks. The landslide occured in Cho Chu Town on Thursday morning Luckily, no one was injured in the incident. Local authorities immediately held a meeting on the issue. Right after that, six households with 22 people in total were relocated. Dinh Hoa District has been facing heavy rain since May 22 with 23 local houses damaged. Around 120 hectares of rice and crops and 14 bridges have been flooded. The authorities have had to clear 800 cubic metres of soil and rocks resulting from landslides. … [Read more...] about Thai Nguyen residents evacuated due to severe landside

Delegates at the grand opening ceremony of GO! Lao Cai. — VNS Photo Central Retail Viet Nam on Friday launched its GO! Mall on Urban Sub-area 13, Tran Hung Dao Street, Bac Lenh Ward, Lao Cai City. It is its 39th shopping centre in Viet Nam, but the first of its kind in the northwest area. The opening of GO! Lao Cai comes as the company celebrates its 10th anniversary in Viet Nam. Built on a total area of 30,000sq.m with an investment of VND300 billion (US$12.9 million), GO! Lao Cai is the largest and most modern shopping mall of Central Retail in Lao Cai. The mall is expected to provide a wide range of products from essential goods, and fast-moving consumer goods to household electrical appliances and entertainment services to meet local demands, from basic to high standards. Speaking at the opening ceremony, Olivier Langlet, General Director of Central Retail Viet Nam, hoped that the presence of GO! Lao Cai can bring convenience to local people's lives, enhancing their … [Read more...] about The first GO! Mall in Lao Cai officially launched

Present at the event were VNDPKO Director Major General Hoang Kim Phung, Director of Military Hospital 175 Major General Nguyen Hong Son, the Australian Defense Attaché to Vietnam, representatives of Air Division 370, international delegates, and relatives of the field hospital’s staff. At 01:30 on May 27, the military transport aircraft C-17 Globemaster III of the Royal Australian Air Force carrying the second group of the L2FH Rotation 3’s staff landed at Tan Son Nhat International Airport. Earlier, the first group of the hospital’s members arrived home on April 30. After undergoing a rapid COVID-19 testing, the Vietnamese peacekeepers attended a welcoming ceremony chaired by leaders of the VNDPKO and Military Hospital 175. In a cozy and solemn atmosphere, leaders of units expressed their delight at the L2FH Rotation 3’s significant outcomes, which have contributed to raising the quality of defense external relations and diplomatic activities. Speaking at the welcoming … [Read more...] about Second group of L2FH Rotation 3 arrives home

The event was attended by Chief of the General Staff and Deputy Defense Minister Senior Lieutenant General Nguyen Tan Cuong, and Deputy Defense Ministers Senior Lieutenant Generals Le Huy Vinh, Vo Minh Luong and Pham Hoai Nam. Deputy Chief of the General Department of Political Affairs (GDP) Senior Lieutenant General Do Can, and Deputy Chief of the General Staff Lieutenant General Phung Si Tan were also present at the ceremony. Addressing the event, General Giang congratulated General Tra on receiving the noble Party membership badge, affirming that the badge demonstrates the Party’s recognition of General Pham Van Tra’s great achievements and devotion to the revolutionary cause of the Party and military. Over the past 65 years, General Tra has held many important working positions. In any circumstances, the former defense minister has always been loyal to the Party, nation and people; done his utmost to best perform all assigned tasks, deserving the trust of the Party, State, … [Read more...] about Former defense leader receives 65-year Party membership badge

It was necessary to improve the legal framework for REITs so that investors could feel secure in investing. — VNA/VNS Photo Viet Nam needs to improve the legal framework to promote the development of real estate investment trusts (REITs) to add capital to the property market while bank credit and corporate bond issuance were being tightened. According to the Viet Nam Association of Realtors, property developers mainly raised capital from stakeholders, bank credit and corporate bond issuance. The tightening of bank credit and corporate bond issuance would force them to look for alternatives and REITs were predicted to become more popular as a capital raising channel for developers, the association said. REIT was a form of capital contribution for one or a porfolio of real estate projects, real estate enterprises by individuals and organisations through the buying of shares or fund certificates and getting returns based on the performance of the real estate projects or … [Read more...] about It’s time to promote the development of REITs: association

People in the northern province of Bac Giang’s Tan Yen District are busy harvesting their early-ripening lychees. A kilo of lychee is currently sold at VND30,000-35,000, up 10% from last year. Bac Giang is the biggest lychee hub of Vietnam, with the majority focusing in the two districts of Luc Ngan and Tan Yen. This year, local lychee growers have seen a bumper crop and the fruit prices are higher than last year. Ngo Van Cuong in Quat Du 2 Village in Tan Yen District grows a total area of over 5 hectares of lychees with GlobalGap standard for export. His family’s early-ripening lychee output is expected to reach 100 tonnes. This year, Tan Yen District has also piloted the plantation of organic lychees which have good quality. Many traders have flocked to Tan Yen to buy lychees. This year, the district’s total lychee output could grow to 16,500 tonnes, including 14,500 tonnes of early-ripening lychees. … [Read more...] about Early-ripening lychee season in Bac Giang

Check out the news you should not miss today: Society -- Sixty-three people were found using narcotics after police officers raided a club in Ho Chi Minh City in the small hours of Friday. -- Three sanitation workers and residents leapt into a lake to save a mother who was carrying her two children when she committed suicide by jumping off a bridge in the northern province of Thanh Hoa on Friday afternoon. -- A tree was uprooted in downtown Ho Chi Minh City, crushing a passing automobile during the prolonged rains and strong winds that hit Ho Chi Minh City on Friday evening. -- Police in the southern province of Binh Duong on Friday arrested two suspects for their involvement in a drug trafficking ring where over one kilogram of methamphetamine was confiscated. -- From January through April, the enforcement team at Ho Chi Minh City's bus stations, ferry terminals, and water terminals sanctioned five instances of smoking in public and warned 592 cases, the Center for … [Read more...] about Breakfast @ Tuoi Tre News – May 28