Occupancy rate at operational industrial parks at nearly 73 percent

Tien Giang Province will invest VND1.204 trillion to build a high-tech agricultural park in the 2017-30 period. — Photo doanhnhansaigon.vn The southern province of Tien Giang will invest VND1.2 trillion (US$52.8 million) to build a high-tech agricultural park on a 197ha area in Tam Hiep, Long Dinh and Tan Lap 1 communes in the 2017-30 period. This was stated by Le Van Huong, chairman of the People’s Committee. In the first phase from 2017 to 2020, the province will develop technical infrastructure and call on enterprises to invest capital in their high-tech agricultural projects on a 44ha area in the park. The phase needs total capital of VND280 billion, including VND21 billion from the provincial budget and the remaining from other resources, according to the provincial People’s Committee. Meanwhile, during the second phase from 2021 until 2030, Tien Giang will expand the park by 153ha with total investment of VND924 billion. This capital will be used to complete technical infrastructure, the administrative centre and areas for research, transfering high agriculture technology, training human resources and other services. The provincial Management Board of Industrial Zones will manage construction of the hi-tech industrial park in the first phase. The Management Board of the Tien Giang Hi-tech Agricultural Park will be established in the second phase. Initially, Tien Giang will give priority for completing construction of the infrastructure, especially a traffic system for the development of the park. At the same time, the…... [read more]

Hundreds of streets have been downgraded and damaged in HCMC and the city has spent much on repairing them but that is unable to solve the root of the issue because of no drainage systems. Nguyen Thi Dinh street  Mr. Tran Tien, whose house is near Road 80-Nguyen Thi Tu street crossroads, says that the road is repaired every year but pot holes reappear after a few months. Traffic accidents continuously occur in the road. Road 80 links up many industrial parks in three districts but the road face is too small with a single lane each side and heavily damaged with thousands of trucks travelling a day. Nguyen Thi Dinh street in District 2 from Cat Lai seaport to My Thuy Intersection receives about 20,000 trucks and containers trucks a day.  The street has two auto lanes which have seriously downgraded and one motorbike lane. Many stretches have been sinking by 20 centimeters in the shape of truck wheels. Drivers must slowed speed to avoid accidents, said container truck driver Nguyen Thanh Vinh. Local residents say that the street has been repaired many times but it is unable to suffer a huge volume of heavy trucks regularly getting in and out from the seaport. Similarly, old Highway 13 in Hiep Binh Phuoc ward, Thu Duc district has been impaired with overloaded trucks deliberately traveling in the road instead of detouring in Binh Phuoc bridge. Narrow Le Duc Tho street in Go Vap has seen expanding pot holes and regular…... [read more]

The southern province of Tiền Giang will invest VNĐ1.2 trillion (US$52.8 million) to build a high-tech agricultural park on a 197ha area in Tam Hiệp, Long Định and Tân Lập 1 communes in the 2017-30 period. Tiền Giang Province will invest VNĐ1.204 trillion to build a high-tech agricultural park in the 2017-30 period.-Photo doanhnhansaigon.vn This was stated by Lê Văn Hưởng, chairman of the People’s Committee. In the first phase from 2017 to 2020, the province will develop technical infrastructure and call on enterprises to invest capital in their high-tech agricultural projects on a 44ha area in the park. The phase needs total capital of VNĐ280 billion, including VNĐ21 billion from the provincial budget and the remaining from other resources, according to the provincial People’s Committee. Meanwhile, during the second phase from 2021 until 2030, Tiền Giang will expand the park by 153ha with total investment of VNĐ924 billion. This capital will be used to complete technical infrastructure, the administrative centre and areas for research, transfering high agriculture technology, training human resources and other services. The provincial Management Board of Industrial Zones will manage construction of the hi-tech industrial park in the first phase. The Management Board of the Tiền Giang Hi-tech Agricultural Park will be established in the second phase. Initially, Tiền Giang will give priority for completing construction of the infrastructure, especially a traffic system for the development of the park. …... [read more]

Delegates cut the cake to celebrate Singapore's National Day (voh.com.vn)     HCM City (VNA) – The Vietnam-Singapore Friendship Association in Ho Chi Minh City (VSFA) and the HCM City Union of Friendship Organisations (HUFO)  on August 7 held a get-together to mark the 52nd anniversary of Singapore’s National Day (August 9). Addressing the event, VSFA President Nguyen Ngoc Hoa highlighted the fruitful traditional relations between Vietnam and Singapore, saying the two countries share many similarities in culture as well as concerns over national defence and security, peace and stability in the region and the East Sea as well. He also commented on successes of Singaporean businesses and investors in HCM City, which, he said, have demonstrated efforts made by the two countries’ governments to advance the bilateral ties. Singaporean firms in HCM City have also actively participated in social activities in the locality while joining hands in people-to-people exchanges, helping enhance mutual understanding between Vietnamese and Singaporean people and strengthen the bilateral relationship, he said. Leow Siu Lin, Singapore’s Consul General in HCM City, said the strategic partnership between the two countries has been intensified through the exchange of high-level visits of their leaders over the past time. The relationship is thriving across fields, especially in economy with the most noteworthy being seven Vietnam-Singapore industrial parks which are operating effectively in the Southeast Asian nation, she said. The diplomat also talked about the two countries’ cooperation…... [read more]

The General Department of Taxation has ruled that from 2018, firms will have to obtain their invoices from the department instead of printing their own. — Photo tienphong.vn The General Department of Taxation has ruled that from 2018, firms will have to obtain their invoices from the department instead of printing their own. The move is part of the Ministry of Finance (MoF) unit’s proposal to replace Decree No 51/2010/ND-CP and Decree No 04/2014/ND-CP on invoices for sales of goods and services. According to the MoF, the goal is to deal with obstacles while implementing Decree No 51, which allows most companies to print their own invoices instead of receiving them from tax authorities. The change will help limit the amount of printed paper invoices and prevent firms from printing too many invoices to avoid paying tax, MoF said. The new decree also stipulates that by 2020, electronic invoices must be used by 90 per cent of businesses. The regulation will apply to enterprises in industrial parks, economic zones, export processing zones, high-tech zones, non-business public units performing production or commercial activities and newly established enterprises. Besides issuing paper invoices for enterprises, tax authorities will also support firms in shifting to electronic invoices with tax codes provided by authorities to expand the application of electronic invoices among firms. From early 2019, many other types of enterprise, including household businesses with revenue of more than VND3 billion (US$133,000), will be forced to…... [read more]

The first half of 2017 has seen increased interest from Singaporean real estate firms in the Vietnamese market, with Sembcorp, CapitaLand, Mapletree, and Keppel Land among the biggest movers and shakers. Apart from greenfield investments, Singaporean developers are now actively expanding their portfolios through mergers and acquisitions (M&A). A wave of M&A Singaporean investors are focusing on M&A in Ho Chi Minh City. Outstanding deals are the Duxton Hotel Saigon, Empire City, Somerset Vista, Saigon Centre, and the Kumho Asiana Plaza. According to Leong Boon Hoe, CEO of CBRE Singapore, Singaporean investors are seeking new opportunities to diversify their portfolios, often after having already invested in previous emerging markets like Thailand or Bali. After the laws regarding housing and real estate were changed for foreigners in July 2015, foreign real estate investment has become much more transparent. “Owning property in Vietnam is a new trend among Singaporeans. In the ASEAN region, Vietnam is one of the more attractive nations for foreign investment into the property market,” Hoe said. Keppel Land in March this year acquired from its Vietnamese partner, Southern Waterborne Transport Corporation, an additional 16 per cent stake in Keppel Land WATCO I to V – the joint venture entities for Saigon Centre. Keppel Land has also signed a memorandum of understanding with Vietnam’s State Capital Investment Corporation (SCIC) to collaborate on other investment opportunities in the country. Keppel Land is…... [read more]

Together with strong interests in real estate, construction, and manufacturing, Singaporean investors have been trending towards healthcare and renewable energy projects in Vietnam to cash in on rising local demand and the government’s supporting policies. Bich Thuy reports. Singaporean firms are finding robust opportunities in a wide variety of local industries In April, SHS Holdings and Singapore’s Sinenergy Holdings signed a memorandum of understanding with Ninh Thuan province to develop a $360 million solar power and high-tech agriculture complex. The 300MW solar farm project is slated for completion in July 2019. That same month, Singapore-based The Blue Circle and Vietnam’s TSV commenced work on the Dam Nai wind farm in Ninh Thuan, marking the official entry of The Blue Circle into the local renewable energy market. The $80 million project is scheduled for completion in October 2018. According to the Singapore Business Association in Vietnam (SBAV), renewable energy is an emerging trend among Singaporean investors in Vietnam, where electricity consumption outpaced the country’s economic growth rate by two-fold over the past few years. Last year, Armstrong S.E. Clean Energy Fund, a dedicated renewable energy private equity fund based in Singapore, and IFC, a member of the World Bank Group, announced an investment in Gia Lai Electricity JSC (GEC), which is one of the largest private sector hydropower players in Vietnam. “With the current introduction of the feed-in-tariff of 9.35 US cents/kilowatt-hour and Decision…... [read more]

VietNamNet Bridge – In the southeast region, a curious phenomenon of foreign direct investment firms ‘recommending’ long-time employees to resign has cropped up. In return, these employees receive a hefty one-time payment. Workers assemble small-sized electric motors at the Japan-owned Mabuchi Motor Viet Nam at the Bien Hoa II Industrial Park in Dong Nai Province. — Photo: VNA/VNS  The companies don’t force the workers to resign but merely recommend it, and the workers consent, making the practice perfectly legal. However, workers might not be aware that by doing so, they relinquish many of their rights, and some are urging authorities to get involved. Nguyen Thi Sen, 51, from Bien Hoa City of Dong Nai Province, worked at Pouchen Viet Nam – a manufacturing factory of the Taiwan-based sportswear company – for nearly 18 years. At the end of last year, the company announced that workers with tenure of 15 years or longer may receive a lump sum equal to 12 months of salary if they quit. Sen is still four years from retirement age, and under the company’s policy, she would receive one-month salary as a bonus every year. However, thinking the one-time payment was a generous amount, Sen agreed to end her contract and social security, and received VND 140 million (US$6,160). “Now I regret my decision. Previously, my monthly salary plus bonus was VND 10 million ($440), so my annual income would total VND 150 million ($6,600), including the New Year bonus,” Sen told Vietnam News Agency. “The…... [read more]

A social housing project in District 7, HCM City. The southern city plans to build 20,000 units for poor people by 2020, and is considering their cost, with the construction department head preferring "nice" apartments to ensure high quality of life. — VNA/VNS Photo Van Khanh Hoang Nguyen HCM City should build social housing priced at up to VND1 billion (US$44,000) rather than VND200-300 million to ensure a reasonable quality of life for their occupants, the city’s top construction official has said. Tran Trong Tuan, director of the Department of Construction, told a conference on Friday that building affordable apartments has been part of the city’s agenda for decades. It has built tens of thousands of apartments for poor people and workers and plans to build 20,000 more from now through 2020, he said. But he was not keen on super-cheap apartments, saying the quality of life of their occupants should be a priority. Earlier he had talked to the media about three requirements for a cheap social housing project: land given for free to developers, infrastructure and a minimum size of each unit of at least 25sq.m. Nguyen Van Duc, deputy director of property developer Dat Lanh, who had designed cheap housing in the city many years ago, told the conference it is feasible to build apartments priced at VND200-300 million in outlying districts like 12, Hoc Mon, Cu Chi, Binh Chanh, and Nha Be. He said the department…... [read more]

HCM City should build social housing priced at up to VND1 billion (US$44,000) rather than VND200-300 million to ensure a reasonable quality of life for their occupants, the city’s top construction official has said. A social housing project in District 7, HCM City. The southern city plans to build 20,000 units for poor people by 2020, and is considering their cost, with the construction department head preferring "nice" apartments to ensure high quality of life. - VNA/VNS Photo Van Khanh Tran Trong Tuan, director of the Department of Construction, told a conference on Friday that building affordable apartments has been part of the city’s agenda for decades. It has built tens of thousands of apartments for poor people and workers and plans to build 20,000 more from now through 2020, he said. But he was not keen on super-cheap apartments, saying the quality of life of their occupants should be a priority. Earlier he had talked to the media about three requirements for a cheap social housing project: land given for free to developers, infrastructure and a minimum size of each unit of at least 25sq.m. Nguyen Van Duc, deputy director of property developer Dat Lanh, who had designed cheap housing in the city many years ago, told the conference it is feasible to build apartments priced at VND200-300 million in outlying districts like 12, Hoc Mon, Cu Chi, Binh Chanh, and Nha Be. He said the department should encourage and guide property developers in building such…... [read more]




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