Royal tomb bulldozed, family sues investor

Viet Nam News HÀ NỘI - Connoisseurs and night-goers in Hà Nội now have more options for their leisure activities now that Playboy Establishment - a luxury club opened in Hà Nội last week. Featuring a fine-dining restaurant, which presents a menu with a full array of Atlantic imported seafood, the venue is expected to be Hà Nội's must-visit culinary attraction for local and regional patrons. The Playboy Establishment's cocktail and champagne bar offers a selection of some of the most limited edition champagne, fine wines and spirits. Designed to offer the finest, live entertainment, the Playboy Establishment will host world-class artists and outstanding musicians. The venue will also be a preferred venue of a variety of corporate events and conferences to utilise its state-of-the-art entertainment facilities and audiovisual capabilities. "We are pleased to introduce the heritage of the Playboy brand to Hà Nội. The venue will bring to life the ultimate luxury dining and entertainment experience to our guests and members. I am delighted to see that this vision is now becoming a reality with our opening and we look forward enriching the nightlife landscape in the city", said Christopher Chronis, CEO of Global Entertainment Operations Vietnam. The new member club, which is located right in the heart of the city by Hoàn Kiếm Lake, is expected to re-define class, luxury and exclusivity changing the culinary and entertainment landscape in Hà Nội. For the up-coming New Year Countdown on December 31, Playboy Establishment will present French DJ and music…... [read more]

VN has 110,100 startups this year Hung Le HCMC – The number of business startups nationwide in the year to December 20 had reached 110,100, an increase of 16.2% against the same period last year, according to the Business Registration Agency at the Ministry of Planning and Investment. These newly established enterprises have total registered total capital of over VND891 trillion (US$39.2 billion), up 48.1% year-on-year. The period also saw nearly 26,700 suspended firms resuming operations, a 43.1% year-on-year increase. There were 1.3 million new jobs created in the period. The real estate sector saw an 83.9% pickup in startups, healthcare and social support with a 52% rise, and education with a 43.1% increase. However, startups were down by 26.2% in the art, entertainment and recreation sector and down 15% in the agro-aqua-forestry sector. HCMC and Hanoi continued the most startups in the country, with 36,442 and 22,663 firms respectively, followed by Binh Duong, Danang, Dong Nai, Haiphong and Khanh Hoa. The Ministry of Planning and Investment said more businesses have been set up since the 2014 corporate law and investment law came into force. Last year, startups rose by 26.6% against 2014 and their total registered capital soared 39.1%. The average time for business registration procedures has been reduced to 2.9 days and the time for business field change has been cut to 2.05 days. Online business registrations have also contributed to the rise in startups. All information about business registration is now available on the national business registration…... [read more]

The new 110,000 businesses could create nearly 1.3 million jobs. Vietnam saw a record number of business openings in 2016, shedding hopes for robust growth and strong investment in the near future. A new report from the Ministry of Investment and Planning said the past year saw 110,000 new businesses open, up 16.2 percent from 2015. Registered capital increased 48 percent to more than VND891 trillion ($39 billion). These new companies are expected to create nearly 1.3 million jobs, independent of the nearly 26,700 firms who suspended operations durng tough times only to resume operations in the past 12 months. Vice Minister Dang Duy Dong described the numbers as “lively.” “With such energy and investment opportunities, the market will surely be more competitive and the economy will leap strongly,” the government report quoted Dong as saying. More than 36,000 new businesses came online in Ho Chi Minh City and nearly 23,000 in Hanoi. New openings in the real estate sector increased almost 84 percent from last year, while education and healthcare openings increased 43 and 52 percent, respectively. Arts, entertainment and agriculture businesses all dropped from last year. But the ministry’s report also revealed a dark side of the boom. Bankruptcies surged 32 percent to nearly 12,578, including in both agriculture and real estate. Vietnam hopes to see over one million businesses in operation by 2020, which means an average of 100,000 openings every year. Related news: > 80 percent of Vietnam's small businesses ‘invisible’ on the internet: report >…... [read more]

Over 57,700 firms enter market in Jan-May Quoc Hung HCMC – More than 57,700 enterprises have been established and resumed operation in the first five months of this year, up sharply from the year-earlier period, according to the Business Registration Agency under the Ministry of Planning and Investment. Data of the agency showed that the country had over 44,740 startups with combined registered capital of VND349.46 trillion (US$15.6 billion) in the January-May period, increasing 24.1% and 59.3% year-on-year respectively. Besides, operational firms registered an additional VND655.9 trillion for their expansion plans in the year to date, bringing the total new capital registered by businesses in the five-month period to over VND1,005 trillion. The registered capital of new enterprises average VND7.8 billion in the first five months, a 28.4% pickup from a year earlier. These companies plan to recruit 532,000 employees, up 2.6% year-on-year. Meanwhile, nearly 13,000 enterprises have been back to business in the year to May after a period of suspension. According to the agency, the first five months saw an increase in the number of newly established firms in almost all sectors such as property with 1,076 companies (up 121.4%), healthcare and social services with 198 (up 81.7%), education and training with 993 (up 44.3%) and science-technology and advertising with 3,475 (up 37.1%). However, there have been only 583 new businesses in the art-entertainment-recreation sector, down 26.5% versus last year’s same period. Notably, an extra VND85.9 trillion has been registered for the real estate sector, up a hefty…... [read more]

Global Entertainment Operations Vietnam (GEO) and Playboy Enterprises, Inc. have announced the opening of Playboy Establishment, an epoch-making luxury entertainment establishment in the centre of Hoan Kiem district in Hanoi. Playboy Establishment features a fine-dining restaurant, a cocktail and champagne bar and a private-access members’. The restaurant’s menu includes a full array of imported Atlantic seafood specialties, such as lobster, salmon, and fresh oyster. The restaurant will be a must-visit culinary attraction in Hanoi for local and regional patrons who crave a one-of-a-kind dining experience. The bar offers a hand-picked selection of some of the most limited edition champagnes, fine wines, and spirits. Designed to offer the finest live entertainment, Playboy Establishment will host world-class artists and outstanding musicians. It will also be a preferred venue for a variety of corporate events and conferences to utilise its state-of-the-art entertainment facilities and audiovisual capabilities. “We are pleased to introduce the Playboy brand’s heritage to Hanoi, Vietnam. The venue will cater the ultimate luxury dining and entertainment experience to our guests and members. I am delighted to see that this vision is now becoming a reality with our opening and we look forward to enriching Hanoi’s nightlife,” said Christopher Chronis, CEO of Global Entertainment Operations Vietnam. The expansive venue will seat approximately 300 (public floor) and 100 (exclusive floor) patrons and is comprised of a dining, bar, lounge, wine, cigar, and live performance areas. The venue also features a flexible design that enables layout changes to accommodate various types of events, corporate…... [read more]

There were 22,486 enterprises resuming operations during the first ten months of this year, an increase of 38.8 per cent against the same period last year, according to the latest report from the Agency for Business Registration under the Ministry of Planning and Investment. Certain sectors saw higher growth than others, such as education and training with 64.7 per cent, arts, entertainment and recreation 63.4 per cent, accommodation and food services 51.7 per cent, manufacturing 47.3 per cent, wholesale and retail trade and repair of automobiles, motorbikes and other motor vehicles 40.4 per cent, real estate 39.7 per cent, transportation and storage 38.6 per cent, professional, scientific and technical activities 37.1 per cent, finance, banking and insurance 36.4 per cent, employment services, travel, equipment rentals, and supplies 36.3 per cent, and mining and quarrying 33.7 per cent. The increasing number of enterprises resuming operations is evidence that Vietnam’s economy is recovering. The Nikkei manufacturing Purchasing Managers’ Index (PMI) climbed from 52.2 in August to 52.9 in September; a 16-month high and reflecting a healthy increase in employment and robust expansion in manufacturing output and new orders, according to HSBC's October update. Manufacturing output increased for the tenth straight month and at the highest pace for three months. “Importantly, employment grew at the fastest pace in five and a half years, as firms responded to a sustained growth in new orders,” the HSBC update wrote. “New export orders also grew at a faster pace than in August. The fact that firms…... [read more]

Newly-established firms need 427,900 employees Quoc Hung By Quoc Hung - The Saigon Times Daily HCMC – More than 28,230 businesses established in January-April are expected to look for 427,900 employees, up 19.2% against the same period last year, according to the latest report of the Business Registration Agency. The agency under the Ministry of Planning and Investment said the total number included 9,190 new enterprises in April with recruitment plans for over 162,000 employees, up 73.9% in number and 139.3% in employment from a month ago. The agency said many new jobs would be good chances for job-seekers and those who want to pursue to work at new enterprises. According to the agency, the number of newly-established firms and their registered capital jumped in the four months compared to the same period of 2014. The 28,235 business startups in January-April registered total capital of VND162.5 trillion (US$7.5 billion), up 9.7% in number and 13.3% in capital over the same period last year. In addition, around 6,834 enterprises applied to add a combined VND222.96 trillion to their operational projects. Overall, the capital registered by new startups and operational firms totaled VND385.46 trillion in the period. The average registered capital of an enterprise was VND5.7 billion, up 1.8% year-on-year. The report also showed that fewer businesses were set up in the sectors of finance-banking-insurance, healthcare, social-community activities, mining, sales and automobile and bike repair in the four months. However, there was a strong rise in the number of business startups in…... [read more]

January FDI approvals off to good start Quoc Hung By Quoc Hung - The Saigon Times Daily HCMC – Foreign direct investment (FDI) activity in Vietnam has been off to a good start as foreign-invested enterprises have registered a total of US$1.334 billion for new and existing projects in January, soaring over 100% year-on-year. The Foreign Investment Agency (FIA) reported that 127 new projects worth over US$1 billion had been licensed in the year to January 20, up a staggering 157.9% against the same period a year earlier. Besides, investors of 56 operational projects registered to inject an additional US$323.41 million, a year-on-year rise of 19.2 %. The agency under the Ministry of Planning and Investment said 67.8% of total FDI was pledged for the processing-manufacturing industry in the period. The art-entertainment-recreation sector came second with over US$210 million (15.7%) though there was only one project licensed, followed by water and power generation and distribution with one new project worth US$59.22 million (4.4%). FDI disbursements were also high in the period with around US$800 million, rising by 23.1% against the same period last year. Companies from 24 countries and territories have invested in projects in Vietnam this month. Of them, Singapore took the lead with fresh and additional capital pledges of over US$295 million (22.1%), Malaysia ranked second with US$243.57 million (18.2%), and China came third with US$179.51 million (13.4%). One of the major FDI projects licensed this month is a computerized lottery project worth US$210.58 million invested by Malaysia’s…... [read more]

Real estate startups soar Quoc Hung By Quoc Hung - The Saigon Times Daily A property project under construction in HCMC’s District 7. Nearly 600 property firms were established in the first quarter of this year, up 146.3% year-on-year - PHOTO: QUOC HUNG HCMC - The real estate sector had nearly 600 firms newly established in the first quarter this year, up a staggering 146.3% year-on-year, according to the Business Registration Agency under the Ministry of Planning and Investment. The agency said the rise in property startups was much stronger than in other sectors in the period. The number of new firms in the health and social support sector came second with 115, up 113% year-on-year. The increases in new firms in science and technology and consulting services as well as education and training were 41.2% and 37.7% respectively. However, there were only 329 enterprises set up in the arts, entertainment and recreation sector in the first three months, down 23% from the same period last year. Registered capital of real estate startups in quarter one totaled VND45.6 trillion (US$2.04 billion), surging 406.9% from a year ago, higher than the growth rates recorded by other sectors. The sectors with startups having high registered capital in the period included information and communication technology with VND4.54 trillion (US$203.7 million), up 253.1% year-on-year. The respective figures were VND4.38 trillion (US$196.5 million) and 168.5% for the financial, banking and insurance sector; VND12.96 trillion (US$581.5 million) and 151.4% for production and distribution of electricity, water…... [read more]

State President Prof. Dr. Tran Dai Quang attended a ceremony to start a new academic year of the Ho Chi Minh City-based National University on October 3, asking it to work to become a “modern university city” that nurtures the country’s talents and optimizes creativity of students. There, the President discussed the fourth industrial revolution with its growth opportunities and non-traditional challenges. The term “fourth industrial revolution” or “Industry 4.0” was introduced for the first time at the Hannover Fair in Germany in 2011. In 2012, the term was used to name a support program of the German Government in association with the country’s leading industrial associations to improve the production and management process in manufacturing sectors through computerization. The State leader viewed that the revolution will exert strong influences on production, stimulating the economic transformation towards a knowledge-based and smart economy. New scientific and technological advances will be applied to optimize production, distribution, consumption and management process, he said, adding that the movement will also generate positive impacts on consumption and prices. For society, the revolution will help transform the labor structure in many countries with the introduction of creative classes in science, technology, design, culture, art, entertainment, education, training, health care and legislation, he said. In the middle and long terms, sectors using intensive low-skilled laborers will be most affected, as the demand for the skilled will rise, he asserted. President Quang also pointed out that Industry 4.0 is creating fresh opportunities for Vietnam to integrate into the…... [read more]