Investment

Hanoi to build horse racetrack in Soc SonThe Saigon Times Daily Dai Nam racetrack in the southern province of Binh Duong - PHOTO: VNA HCMC - The Hanoi City People’s Committee has started consulting ministries and agencies over an adjusted draft master plan for the socioeconomic development of the city until 2020, with a vision toward 2030, which includes the building of a horse racetrack in the outlying district of Hanoi’s Soc Son, Nguoi Lao Dong newspaper reported. The racetrack project will cost an estimated US$500 million and is expected to offer job opportunities to some 5,000 direct employees and approximately 20,000-25,000 indirect employees, thus regularly contributing to the municipal budget. The city expects to collect an estimated US$10 million in annual taxes from the racetrack operator, along with some US$100-200 million in special consumption taxes per year from horse racing. The racetrack project in the city was first under consideration in 1999 and … [Read more...] about Hanoi to build horse racetrack in Soc Son

A new wave of European enterprises comingBy Quoc Hung Analysts believe Vietnam needs to improve her business environment at a faster pace - PHOTO: QUOC HUNG The flow of investment capital and commodities from Europe into the domestic market is intensifying as the EU-Vietnam Free Trade Agreement (EVFTA) is expected to come effective next year. Vietnam is now the destination for manufacturers and processors of garments, footwear, electronics, and automobile accessories, possibly signifying a shift of orders from China to Vietnam. This is considered a favorable condition for European suppliers of equipment and accessories. At the recent Forum D’Affaires France-Vietnam—a France-Vietnam business forum— held in HCMC as part of the official visit of French Prime Minister Édouard Philippe, Henri-Charles Claude, president of the French Chamber of Commerce and Industry in Vietnam (CCIFV), said Vietnam’s business climate is getting warmer, and entrepreneurs … [Read more...] about A new wave of European enterprises coming

ADB offers solutions for green finance in VietnamBy Thanh Thom Solar panels on the top of the headquarters of a power company in the central coastal province of Binh Dinh – PHOTO: VNA HCMC – Considering the major barriers to financing renewable energy (RE) projects in Vietnam, researchers at the Asian Development Bank (ADB) have recommended the Government establish more conducive conditions for private investment and strengthen the domestic funding environment through a functional financial market. Vietnam is a potentially rich country with abundant sources of RE, such as wind power, solar power and biomass, which remain substantially untapped, the bank’s researchers stated in their working paper, titled, “Green Finance in Vietnam: Barriers and Solutions,” released on November 12. Despite the advantage of finding funding sources for RE projects, they noted that many hindrances still exist. The low-regulated price of electricity makes it difficult … [Read more...] about ADB offers solutions for green finance in Vietnam

HCMC seeks approval to build Can Gio golf courseThe Saigon Times Daily A golfer is seen at the golf course inside the Tan Son Nhat International Airport premises - PHOTO: THANH HOA HCMC – The HCMC government has proposed the Ministry of Planning and Investment seek the prime minister’s approval to add the 135-hectare Can Gio golf course project to the country’s golf course development plan until 2020, Nguoi Lao Dong newspaper reported, citing the HCMC People's Committee Office as saying on November 13. The projected golf course is part of the scale-1/5000 zoning plan for the Can Gio Beach tourism urban area, which would cover 2,870 hectares of land in Long Hoa Commune and Can Thanh Town, Can Gio District. The site where the golf course is expected to go up will be reclaimed land, so the project will not encroach on agricultural land, protected forests or areas designated for industrial park development and special use, according to the city. The 36-hole golf … [Read more...] about HCMC seeks approval to build Can Gio golf course

PM approves orientations on ODA use The Saigon Times Daily A section of Metro Line No.1 project in HCMC which taps ODA loans provided by the Japanese government - PHOTO: THANH HOA HCMC - The Prime Minister has approved new orientations on the attraction, management and use of official development assistance (ODA) and preferential loans from foreign lenders for the 2018-2020 period, in a bid to meet the goals of the 2021-2025 period. The loans will be used for developing investment projects, not for funding regular expenses, news website VnEconomy reported. For the 2018-2020 period, the Government asked agencies to work to overcome existing obstacles, bolster disbursements and utilize the loans efficiently. Additionally, agencies are to continue selecting and making preparations for potential public investment projects based upon their socio-economic and financial efficiency, while the disbursement for such projects will be carried out after 2020 to ensure their use for their … [Read more...] about PM approves orientations on ODA use