Other Briefings
Foreign Investment Drops by 76 Percent
May 27 – According to the Ministry of Planning and Investment’s Foreign Investment Agency, foreign investment during the first 5 months of the year dropped by 76 percent to US$6.68 billion compared to the same period last year. Only 256 new foreign-invested projects worth US$2.7 billion were licensed, a 89 percent plunge from previous figures […]
IBM Innovation Center Opens in Vietnam
May 26 – IBM has opened an innovation center in Ho Chi Minh City to provide businesses access to digital infrastructure technologies for the telecommunications, finance and energy industry. According to IBM, Vietnam has the highest internet penetration rate among developing countries. The center will offer training workshops, consulting services and assistance to help test […]
HCMC’s First Cable-Stayed Bridge Nearing Completion
May 21 – Ho Chi Minh’s first ever cable-stayed bridge spanning over the Saigon River is nearing completion with the final cables connected last Tuesday. The Phu My Bridge is 2.1 kilometers long and connects District 2 and District 7. Work on the bridge was completed four months ahead of schedule. It is the world’s […]
Vietnam-United States Container Service to Start June 4
May 19 – Singaporean shipper APL will begin weekly direct container shipping service between Vietnam and the western coast of North America on June 4. “This is the beginning of a new era for trade with Vietnam and marks its increased importance as a manufacturing and export center,” Eng Aik Meng, President of APL, told […]
GE Begins Construction of US$61 Million Plant in Haiphong
May 13 – General Electric has begun building a US$61-million manufacturing plant in Haiphong City. The plant, located 100 kilometers east of Hanoi in the Red River Delta, will be making components for other GE manufacturing and service facilities around the world while also providing installation, maintenance and repair services for the components.
HCMC Rentals Hit by Lower Demand
May 12 – Office and serviced apartment rentals have been dropping in Ho Chi Minh City during the first quarter of the year because of continuing weak demand brought by the economic downturn, reports real estate services firm CB Richard Ellis (CBRE). For Grade-A buildings, rents have plunged by 20 percent to an average of […]
South Korean Firms Cite Misunderstanding of Tax Laws
May 11 – During a meeting with finance ministry officials, South Korean executives explained that Korean companies doing business in Vietnam can sometimes disregard new corporate tax and customs regulations because of misinterpretation. The deputy general director of Lotteria Vietnam, Dao Manh Ha, said that Korean firms generally respect Vietnamese laws but are sometimes confused […]
Vietnam to Upgrade its International Airports
May 6 – Vietnam plans to establish ten international airports across the country through the expansion of existing facilities and the construction of new ones, according to a recent zoning plan released by government authorities in Ho Chi Minh City. The plan, drawn up by Vietnam’s Ministry of Transportation, will include renovations and massive upgrades […]
Investment Disbursement in HCMC is Lagging
Apr. 30 – Despite Ho Chi Minh City being able to successfully attract foreign investment, the disbursement of it has been lagging so far. Vietnam’s economic hub, not including industrial parks and export processing zones, has attracted nearly US$26 billion in foreign direct investment since 1987 but only 39.6 percent of this amount, or US$10.1 […]
Vietnam Taking Precautionary Measures Against Swine Flu
Apr. 28 – At the recommendation of health experts, Vietnam has established precautionary measures to protect itself from the spreading H1N1 strain of swine flu virus currently affecting people in Mexico and the Unites States. The country’s disease-control agencies are on high alert and travelers entering the country are required to declare the current status […]
