(VOV) - A Korean business has decided to invest VND20 billion in the development of a high-quality rice cultivation area in the southwestern province of Tay Ninh. A memorandum of understanding (MoU) was signed on January 22 by Vietnam Moc Bai joint stock company under the Republic of Korea’s Taekwang group and Tay Ninh Department of Agriculture and Rural Development (DARD). Accordingly, the fund will be used to build dykes, irrigation system and procure machines and equipment. Tay Ninh province will spend more than VND6.4 billion on building a storage area and a bomb and mine clearance project. DARD Vice Director Nguyen Thai Son said experts and technicians will help farmers develop a modern rice cultivation model to bring about highest efficiency. In 2010 Taekwang Group invested in building a Nike sports shoes factory in Moc Bai Economic Zone in Tay Ninh province with an annual capacity of 10 million pairs of shoes and has employed 15,000 local workers. It is also … [Read more...] about Korean business invests in high-quality rice production in Tay Ninh
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President Sang pays Tet visit to Tay Ninh
The State leader offered incense to late General Secretary Nguyen Van Linh, Chairman of the Council of Ministers Pham Hung, Prime Minister Vo Van Kiet and Gen. Nguyen Chi Thanh at their memorial houses at the Central Office for South Vietnam historical relic site in Tan Lap commune, Tan Bien district. President Sang urged officials and workers at the relic site to exert greater efforts to help domestic compatriots and international friends get a clear, full, accurate and honest understanding of feats and contributions of forerunners having operated at the Office, turning this special site into a site educating traditions to younger generations. The same day, the State President planted a memorial tree at the Vietnam Moc Bai Joint Stock Company under the Taekwang Group at the Moc Bai border economic zone, located in Ben Cau district. Speaking highly of the Republic of Korea group, President Sang recommended Taekwang choose Tay Ninh as a centre to expand investments, creating a … [Read more...] about President Sang pays Tet visit to Tay Ninh
Consortium seeks to build HCMC-Moc Bai expy
Consortium seeks to build HCMC-Moc Bai expy Le Anh By Le Anh - The Saigon Times Daily HCMC – A consortium consisting of one Indian and three local companies has written to the Ministry of Transport expressing interest in developing an expressway connecting HCMC and Tay Ninh Province’s Moc Bai, said a source from the ministry. The four companies are Thai Son Investment Development Joint Stock Company (JSC) under the Ministry of Defense, Cai Mep Investment JSC, Red River Construction Investment and Trading JSC, and India’s IL&FS Transportation Networks Limited (ITNL). HCMC-Moc Bai expressway would be built under the build-operate-transfer (BOT) format. The consortium said it has strong financial capability and experience in transport infrastructure projects in Vietnam, so it can finish the project on schedule. The three domestic companies have already got involved in major transport projects in Vietnam. Meanwhile, ITNL is the largest investment firm in ground … [Read more...] about Consortium seeks to build HCMC-Moc Bai expy
Vietnam seaside tourism projects left to rust, locals have no sea access
Hundreds of projects, mostly resorts, have been abandoned for years along Vietnam's central and southern coast, leaving locals jobless and cut off from the sea In 2000, authorities in the south-central province of Khanh Hoa licensed Rus-Invest-Tur Company to invest in a resort complex that would cover nearly 44 hectares (109 acres) of land along the coast near the popular resort town of Nha Trang. The project, known as Rusalka ("Mermaid" in Russian), was planned to cost some US$15 million. In 2005, Nguyen Duc Chi, then board chairman of the company, was arrested on charges of "fraud" and was later sentenced to five and half years in jail. Local authorities then withdrew the project's license, leaving the construction site to rust for many years until Focus Travel Nha Trang Company was appointed as its new investor in 2012. The project was renamed to Champarama Resort & Spa and planned with an investment of VND1.2 trillion ($56.5 million). But the site has been … [Read more...] about Vietnam seaside tourism projects left to rust, locals have no sea access
MoC to inspect many real estate projects in 2018
A series of projects belonging to real estate giants such as Vingroup, Bitexco, Geleximco, and the BIM Group will be included in the inspection plans of the Ministry of Construction (MoC) in 2018. MoC will inspect The Manor Central Park in Hanoi next yearMoC’s Inspectorate will conduct inspections on construction, investment, business activities and the implementation of the Law on Housing.At the Bitexco Group, MoC will inspect The Manor Central Park in Hanoi and a number of projects of the Hanoi General Export Import Joint Stock Company (Geleximco) in Hanoi and northern Hoa Binh and Quang Ninh provinces.The Inspectorate will also inspect VinGroup’s Vinpearl Beach Front Condotel Tran Phu, Vinpearl Empires Front Condotel Le Thanh Ton, Vinpearl Long Beach Villas Bai Tru, Vinpearl Luxury Nha Trang Hon Tre, and Vinpearl Long Beach Villas.Meanwhile, projects of the BIM Group, including the Hung Thang urban area, Green Bay apartments, and Halong Marine Plaza will be inspected, … [Read more...] about MoC to inspect many real estate projects in 2018