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Tag Archive for ‘Vung Tau’

Large-scale investments promise FDI breakthrough in Vietnam

Many large-scale investment projects and cooperation agreements have been signed for the near future, promising a breakthrough in foreign direct investment (FDI) attraction in Vietnam. Just in the last 10 days, numerous investment cooperation agreements have been signed within the framework of Party General Secretary Nguyen Phu Trong’s visit to Indonesia and Myanmar and Prime […]

Vietnam’s August 2017 retail sales in huge surge

Vietnam’s total revenue from retail sales and services reached 2.58 quadrillion VND (114.7 billion USD) in the first eight months of this year, a year on year increase of 10.3 percent, reported the General Statistics Office (GSO). The figure amounted to an 8.9 percent increase, excluding the price factor, the highest rise recorded since the […]

Vietnam lawmakers debate ways to reinvigorate economy

HA NOI (VNS)– Questions about how to provide businesses with access to loans, settle bad debts, manage the gold market and ensure dam safety fueled a heated question and answer session yesterday between National Assembly deputies and Government officials. Answering a question about the gap between world and domestic gold prices, State Bank of Viet Nam governor Nguyen Van Binh said that when the domestic gold price went up, the government in the past had to import gold to stabilize the market, which could negatively affect foreign currency reserves. He said the government had…

Mammoth amusement park projects in Vietnam just make-believe cake drawn on paper

VietNamNet Bridge – A lot of foreign investors arrived in Vietnam and contrived mammoth amusement park projects. Later, only when the investors left, did local authorities realize that the investors just promised the earth. One stone can kill two birds “Real estate and entertainment industry – two sectors, one destination” was the theme of the […]

Vietnam’s Three Big Conglomerates Report Losses, Blaming Each Other

VietNamNet Bridge – While Vinacomin and PetroVietnam complain that they incur loss because they have to sell coal and gas at low prices to the Electricity of Vietnam (EVN), the power group complains that it incurs loss because of having sell electricity at the prices lower than the production costs. Coal producer blames loss on EVN According to the Vietnam Energy Association (VEA), inspectors have found from a fact-finding trip to the Cao Ngan, Na Duong I, Cam Pha I, Cam Pha II and Mao Khe thermopower plants a lot of problems existing over the last four months, since…

Foreign brands’ rapid expansion awakens Vietnamese plastics producers

VietNamNet Bridge – The plastics export turnover is just equal to 1/3 of the material import turnover in 2011, estimated at 4 billion dollars. When Lock&Lock penetrates the market Engrossed with making plastic bags, packing products and industrial plastics, Vietnamese big plastic manufacturers, namely Dai Dong Tien, Duy Tan and Ngoc Nghia could not imagine that the South Korean Lock&Lock could expand so rapidly in the domestic market. It has just opened the 19th shop in Vietnam, the biggest one in HCM City which covers an area of 500 square meters at Vincom Eden shopping mall in district 1. Lock&Lock, which introduces its products as…

Southern Vietnam fish catch up 43%, profits stable

HCM CITY (VNS) — Fishermen have managed a bumper catch this year due to the large quantities of fish living in the open ocean and the increased sophistication of fishing boats, the Department of Fisheries and Resources Protection has said. They caught a total of 1.55 million tonnes of fish in the first nine months, up 4.3 per cent against the same period last year, the department, which is under the Directorate of Fisheries, said. The southern fishing season from April to September accounted for 1.42 million tonnes. High-value open-ocean, or pelagic, species like…

Low electricity prices cannot attract investments in Vietnam’s recycled energy

Located in the tropics, Vietnam still cannot take full advantage of its sun and wind resources to generate electricity. This has been attributed to the unreasonable mechanism which is unattractive to investors. Under the Decision No. 37 dated June 29, 2011, the Electricity of Vietnam (EVN) is the electricity buyer who takes the responsibility of purchasing the whole electricity output from wind power projects. Regarding the wind power price, the legal framework stipulates that the price is 1614 dong per kWh, or 7.8 US cents and can be adjusted in accordance with the dong/dollar exchange rate fluctuations. The decision also said that the State…

Vietnam Healthcare Facilities For Islands In The Pipeline

Healthcare facilities for islands in the pipeline HCM CITY (VNS) — The Government plans to allocate VND8.2 trillion (US$390.5 million) to develop healthcare facilities on the country’s islands, according to the Ministry of Health. The ministry is currently drafting a plan that would outline activities through 2020. Work would begin next year on both hospitals and health clinics, said Dr Nguyen Hoang Long, deputy head of the Finance and Planning Department under the Ministry of Health. Speaking at a workshop held yesterday in HCM City, Long said the Government would invest in upgrading existing hospitals and build new ones to support…

Despites strict regulations, Vietnam still attractive to casino developers

VietNamNet Bridge – Analysts believed that with the expected strict control over casino projects, Vietnam would keep casino developers away. However, they are wrong. The construction of the first tower with 541 rooms would start in January 2013 by MGM Grand Ho Tram Beach in the sea province of Ba Ria – Vung Tau. Meanwhile, the execution of the second tower with 559 rooms has kicked off which is expected to become operational after one and a half year. The Ministry of Finance last month opened the draft decree on casino management for public opinion, which said that a project with casino must…