Phu Long, which is under Sovico Holdings Company, is a big real estate company in Ho Chi Minh City. It has carried out major projects like Dragon City (33 hectares), Dragon Riverside City (3.1ha), Dragon Village (21.6ha), and deployed HDBank Tower and Sovico Phu Quoc. Before acquiring 50 per cent of Splendora’s shares from Posco E&C, at the end of 2017, Phu Long raised its charter capital from VND700 billion ($30.85 million) to VND3 trillion ($132.2 million). The deal marks the appearance of Phu Long on the Hanoi real estate market. This is also a good opportunity for Phu Long to acquire the 50 per cent left from Vinaconex because the corporation has been planning to divest from Splendora for a while now. Besides Splendora, Vinaconex has invested into various projects, such as a building complex at 97 in Lang Ha Street, 2B Vinata Tower at 289 Khuat Duy Tien Street, a project at 93 Lang Ha Street, and an apartment building at 25 Nguyen Huy Tuong Street. At a recent roadshow, director general of Vinaconex said that Splendora could earn a total revenue of around VND1.2 trillion ($53 million) in 2018 with a profit of VND430 billion ($19 million). According to the plan, Splendora could gain VND2 trillion ($88.1 million) of revenue and VND500 billion ($22 million) of profit by 2020. Splendora is one of the largest-scale real estate projects in the west of Hanoi with its area of 264ha. An Khanh Joint Venture Company of Vinaconex and Posco E&C (now… [Read full story]
“To be honest, I’m not used to it yet,” Nguyen Thi Phuong Thao, 46, said during the Forbes Vietnam Women Summit 2017 on April 12. “During my 30 years in business, I’ve never counted my money and I’ve never aimed at being a millionaire or billionaire,” Thao said.She said she did not grow up poor and thus earning money was never her primary goal. Her main concern, she said, is to build a strong stand for her business.Thao studied economics and finance in Soviet Russia in the 1980s. She founded VietJet, the country’s only private airline, in December 2011, after…... [read more]
South Koreans operated four of 10 largest FDI projects in Vietnam in 2006. The world's fourth largest steelmaker Posco of South Korea surpassed the US-based Intel project to become the largest foreign investment in Vietnam, with US$1.128 billion for its steel project in Phu My Industrial Zone II, Ba Ria-Vung Tau Province. The project is divided into two phases. In the first phase, Posco invests US$340 million to build a cold-rolled steel mill with annual output of 700,000 tonnes of cold-rolled products. The first phase is scheduled to finish in 2009. In the second phase, an additional US$660 million investment…... [read more]
(VEN) - Starting construction in 1959 and coming into operation in June 1962, after 50 year development, the Lam Thao Fertilizers and Chemicals Joint Stock Company has affirmed its position as a typical business in the fertilizer sector. Up to now, Lam Thao Company has produced 50 types of fertilizers and chemicals. It has been the only business in Vietnam to produce superphosphate and fused phosphate. Annual production reaches 830,000 tonnes of superphosphate, 750,000 tonnes of NPK (Nitrogen, Phosphorus and Potasium) fertilizer and 200,000 tonnes of fused phosphate. Other products include sulphuric acid, sodium alum, Sodium Silicofluoride (Na2SiF6) and Natri…... [read more]
The Binh Duong Province Police Department claimed at a press conference on May 14 that they had verified the identity of the man suspected of killing 40-year-old Phan Van Lan, director of a private company in Ben Cat District on May 6.Colonel Nguyen Hoang Thao, deputy director of the Binh Duong Police Department said they had captured four men that were involved, including Pham Van Dung, Nguyen Van Tuan, Dang Viet Thinh and Pham Tuan Thanh. Binh Duong police are hunting for four other men and have issued search warrants for 46-year-old Duong Hoang Dung alias “Ben”, suspected of shooting…... [read more]
(VEN) - "Participation in Cleaner Production in Industry (CPI) has helped us accomplish major economic and environmental achievements and assure occupational safety," Vinh Phu Shoe Company Director Bui Manh Hung told the Vietnam Economic News. Located in Viet Tri in Phu Tho Province, the Vinh Phu Shoe Company makes 650,000-700,000 pairs of shoes for export each year. Before the company applied cleaner production solutions, a certain amount of toluene, which is used in adhesion, unexpectedly leaked into the environment. This resulted in adverse impacts on the environment and workers' health. On top of this, the company discharged about 100…... [read more]
