HCM City will develop housing for resettled residents instead of building new housing with state funds. — VNS Photo Ngọc Diệp HCM CITY — HCM City plans to develop social housing on its own instead of building new resettlement housing with state funds, according to the city’s People’s Committee. Resettlement housing is used for residents who must move to make way for urban embellishment projects. Between now and 2025, the city’s district People's Committees will be authorised to use 9,435 state-owned housing and 2,488 land lots for resettlement. Priority for the land fund for social housing will be in Củ Chi, Bình Chánh, Hóc Môn, Cần Giờ and Nhà Bè districts. The city will develop 301 urban embellishment projects affecting about 19,000 households and individuals by 2020, and from 2021 to 2025, about 226 projects affecting 25,000 households. As many as 20,000 social … [Read more...] about HCM City to develop resettlement housing without state funds
A view of the Vinhomes Riverside project in Hà Nội’s Long Biên District. — Photo baogiaothong.vnViet Nam News HÀ NỘI — GIC Pte, Singapore’s sovereign wealth fund, has made huge investments in large Vietnamese firms such as VinHomes, Vietjet, Techcombank and Masan. GIC is the world’s biggest sovereign wealth fund with an estimated US$359 billion of global assets. Earlier this month, it spent nearly $100 million to acquire some 24.5 million shares in Việt Nam’s consumer giant Masan Group Corporation (MSN) to bring its total number of shares to 75.7 million, a 6.5 per cent stake in the company. This $100 million deal is one of many recent major acquisitions that GIC has made in Việt Nam, cafef.vn reports. GIC played a part in Việt Nam’s largest equity offerings, all of which were completed in the past year. It invested about $1.3 billion in luxury developer Vinhomes JSC ahead of its May initial … [Read more...] about Singapore state fund invests in Việt Nam
The Hanoitimes - Cinema film producers have not been able to produce any new films in recent years, as they have yet to get state funding due to the lack of a circular on cinema film auction. Nguyen Thi Hong Ngat, former Deputy Director of the Cinema Department said the government has set aside VND93 billion (USD4.4 million) for film production including VND48 billion (USD2.27 million) for 2012 and VND45 billion (USD2.13 million) for 2013. “To date, none of the funding has been disbursed even though three films about history, political leaders and contemporary times were approved as of late 2011 and the Ministry of Finance has allotted funding for each film since August,” Ngat said. She blamed the situation on the lack of a circular to guide the auctioning process using state funding. Now several film producers have become idle as they do not have their own funding sources. Nguyen Thi Minh, Deputy Minister of Finance, said, “We’ve just asked for an … [Read more...] about Regulation stagnates state-funded film productions – Entertainment – Arts & Entertainment
VietNamNet Bridge – Millions of US dollars have been invested in state-owned movie projects, but the films are still no popular with audiences. To celebrate National Day (September 2), three state-funded films were launched in Hanoi. The production costs for these movies were huge, compared to private products, but they failed to lure the audience. As a result, all of them were rejected from cinemas after a few days. Of the three movies, entitled “Song Cung Lich Su” (Live with History), “Mo Gio” (Fake Tombs) and “Dam Me” (Passion), the first is considered the biggest failure, although its production cost is up to VND21 billion ($1 million). “Live with History” is one of the most expensive movie projects in the history topic in Vietnam. It is a product of the Vietnam Feature Film Studio, directed by People's Artist Nguyen Thanh Van. The movie describes the Dien Bien Phu campaign through the dream of a group of young … [Read more...] about Are State-funded movies a waste of money?
The Hanoi Times - An exhibition of artworks funded by the state budget and the amateur dancing festival has made its debut at the Vietnam Centre for Culture and Art Exhibition, 2 Hoa Lu, Hanoi. The exhibition introduces hundreds of outstanding artworks of various genres funded by the state, such as paintings, sculptural works, music works, art photos, documentary photos and others. These works come from local literature and art associations throughout the country. Apart from the exhibition, 400 amateur dancers from 18 amateur art troupes and amateur singers will perform famous songs and dances. The event is organised to celebrate the 64th National Day of Vietnam, September 2. KTDT … [Read more...] about Hanoi hosts state-funded artwork exhibition