On March 22, Viet Nam was announced to be ranked 13th among the countries that have the highest office rental in the world by representatives of Cushman & Wakefield, a leading U.S. global real estate firm. The announcement was made in a press conference in Ho Chi Minh City to present the 32nd office in the Asia- Pacific region to the public. Chairman of the board at Cushman & Wakefield, Mr. John Cushman said that if the office rental in HCM City climbs up to US$100/ sq. meter, the city will be listed among the ten top cities that have the highest office rental in the world with Hong Kong, Tokyo and London. According to Mr. Toby Dodd, General Director of Cushman & Wakefield in Viet Nam, office rental in the city is booming and the real estate market in the country will witness unstable growth in 2008.Mr. Dodd also added that the rental of A-grade offices in HCMC city is over US$75 a square meter and the current demand for such offices has well exceeded the supply. … [Read more...] about Viet Nam’s Rocketing Office Rental to Discourage Investors: U.S. Real Estate Firm
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Barack Obama took power as the first black US president Tuesday and quickly turned the page on the Bush years, urging Americans to rally to end the worst economic crisis in generations and repair the US image abroad. "Starting today, we must pick ourselves up, dust ourselves off, and begin again the work of remaking America," Obama said, addressing an exuberant sea of people in an inaugural speech that was optimistic but realistic about the challenges ahead. President Barack Obama toasts with his wife Michelle at the inaugural luncheon in Washington, January 20, 2009. … [Read more...] about Obama becomes U.S. president, turns page on Bush
The economic turmoil causing shocks in the U.S financial market only put little impact on Vietnam economy, according to some domestic and foreign experts. Ayumi Konishi, ADB country director for Vietnam, said Vietnam’s banking system is at initial stage of development, and what happened to the U.S market and its banks is hardly related to Vietnam. Risks from the U.S market to Vietnam banks are very small, Konishi said. However, the negative impacts of the global financial markets will put on Vietnam’s financial investors in lending property sector. Once prices of property fall, bad debts of several banks will increase. Le Dac Son, General Director of Vietnam Bank for Private Enterprises (VPBank), said the financial “earthquake” in the U.S financial market is remote from Vietnam’s banking system. The impact, if any, is the difficulty in Vietnam’s exports to the U.S market and the possible reduction of overseas remittance, he … [Read more...] about U.S Financial Turmoil Have Little Impact on Vietnam, Experts Say
In late 2014, Uber and Lyft targeted Portland, Oregon, as the next place to launch their still-controversial ride-hailing services. Lyft's nice-guy strategy - central to its marketing and expansion efforts nationwide - gained it nothing. "We were trying to figure out a way to reward Lyft for having better business practices and not violating our laws," said Josh Alpert, mayor Charlie Hales' chief of staff, who described the interactions with both companies. "Sadly, at the end of the day, it didn't make a difference." The city passed a law regulating ride-hailing last April. Today, Uber leads the Portland market - as it does across the United States. Lyft has positioned itself as the caring alternative to Uber in relations with drivers and customers, as well as regulators. Uber's more aggressive style, while irritating to public officials, has allowed the company to expand faster, building public awareness and market share. After four years of competition, Lyft is running a distant … [Read more...] about Lyft’s nice-guy strategy leaves it struggling to catch Uber in the U.S.
Five U.S. franchisers operating in the fields of education, communications, advertising, printing and gastronomy December 15 introduced franchise opportunities with local enterprises at a conference in Ho Chi Minh. The five brands, presented at the conference co-held by the U.S. Commercial Commission in Vietnam, Edwards Global Services Inc. (EGS) and the August Bao Law Firm, include three food franchise opportunities offered by The Melting Pot, Round Table Pizza - the fifth biggest pizza brand in the U.S. and the fast-food brand Carl's Jr., as well as a franchise for art and creative education for children under the Abrakadoodle brand, and a business guidance franchise offered by Signs Now. The franchises were offered at costs ranging from US$300,000-US$500,000 for the exclusive rights to supply their branded products, said an EGS official. According to foreign investors, Vietnamese law governing franchises has been markedly streamlined to protect trademarks, as well as offering … [Read more...] about U.S. Firms Seeking Franchise Opportunities in Vietnam
Dinh Van Thu, spokesman of the provincial People's Committee Office, said this will be the largest tourism project in the central and Central Highland regions of Vietnam. The project will be invested by the U.S.'s Global C&D Inc. and several other unnamed companies from this country, Thu said. The Dragon Beach Casino Resort, to be located on a site of 460 hectares in Dien Ban district, will include nine hotel-casino complexes worth US$9 billion and a US$400-million international convention center. It will also house hi-end hotels worth US$140 million, a golf course-sport club area of US$100 million, a US$140-million trade center, and several other works. If approved by the Prime Minister, the project will be kicked off by late this year, said Chairman of the People's Committee Nguyen Duc Hai. (VietnamNet) … [Read more...] about Quang Nam Submits U.S.-invested US$10-Bln Project to PM
An international-standard racecourse, the biggest of this kind in Vietnam will be built in Soc Son District, Hanoi in the coming time after a rather long-term delay, state media said November 22. The Global Consultant Network L.L.C of the U.S. and the Hanoi tourism company will implement and manage the project at a total cost of between US$500 million and US$1 billion on an area of 235 hectares. It will include an international-standard racecourse, a five-star hotel, trade centers, a golf course, a water park, residential area and a resort complex. The racecourse will be a luxurious entertainment venue for foreign and domestic guests, the Hanoi tourism company General Director Nguyen Manh Hung, said, adding that it will create jobs for at least 10,000 local people. Time schedule for the project construction has not made available at the moment. According to Hung, the project was firstly licensed in 1999. It, however, was postponed as the project investors gave it up. At … [Read more...] about U.S. Global Consult to Build Vietnam’s Biggest Int’l-Standard Racecourse
We've been successful and we are achieving successes in a number of areas, U.S. Ambassador Michael W. Michalak told DTiNews' David Cornish in a candid interview, on the occasion of celebrating the 15th anniversary of normalized relations between Vietnam and the United States. As far as Vietnam and the U.S. are concerned, how would you summarize where the relationship stands? … [Read more...] about U.S Ambassador: VN-U.S relationship is the best its ever been
VGP – Party General Secretary Nguyen Phu Trong’s ongoing official visit to the U.S. has shown the maturity in the two nations’ relations, creating new opportunities for the two sides’ Comprehensive Partnership to reach a higher level and contributing to the regional peace and stability. Former Deputy PM Vu Khoan shared his views on the meaning and importance of Party chief Nguyen Phu Trong’s visit to the US in a recent interview. Benefits for both Regarding the developments in Viet Nam-U.S. relationship, the Deputy PM highlighted the two sides’ economic cooperation achievements over the recent 20 years. Two-way trade turnover spiraled from US$700 million to nearly US$40 billion. The U.S. is the largest importer of Vietnamese goods and among the ten largest investors in Viet Nam with US$10 billion. After establishing the Comprehensive Partnership, the two nations have exchanged high-ranking delegations, formed dialogue mechanisms in terms of … [Read more...] about VN-U.S. relations head to higher level
VGP – PM Nguyen Xuan Phuc expected that Samsung Electronics will increase its investment and develop larger research and development centers in Viet Nam as the largest Foreign Direct Investment (FDI) business in Viet Nam. The PM made that statement at his reception for President &CEO at Samsung Electronics Shin Jong Kyun on May 4 in Ha Noi. He hailed the Samsung Electronics’ projects in Viet Nam, which have created more than 130,000 jobs and made great contribution to Viet Nam-Republic of Korea Strategic Partnership relations. The host lauded the investment of the corporation in other areas such as energy, infrastructure, harbor, science and technology and health care. Mr. Shin Jong Kyun said he hopes that the Vietnamese Government will soon have suitable strategies to take advantages of the new information technology development trend. He pledged that the corporation will strictly follow the Vietnamese regulations on investment and business as well as salary, … [Read more...] about PM welcomes foreign investors from RoK, U.S.