Vietnam Economy Forum

[Minjitta]

Under the regulations of VN, casino's area is only allowed <3% of the complexes's area.

I think Vietnam should allow Las Vegas invests the complexes in Vietnam and allows local people to play with conditions to limit the number of local people can participate [eg local people to buy tickets at the door 100USD such as Singapore]
In fact VN government can not forbid VN people to gamble in Singapore, Macao, Cambodia ...

Singapore have the law that any of the local gambler relatives can report and not allow the local gambler to enter the casino. This is how you stop local to enter the casino.

 

[Minjitta]

Dancing robot made by Viet Nam

Sure????? Not hand outs from daddy USA???????????

Since when USA is Vietnam daddy? Malaysia are close tie to US than Vietnam.

 

[Viet]

I think Chinese banks and suppliers got stuck with billions of dollars of unpaid loans and bills by Korean companies a few years back in Shandong Province. They fled back to Korea after their business ventures supposedly 'failed'. Use that as a guide is my advice.

You are so smart. Is it true? That´s the first time for me to hear that Chinese business were cheated by Koreans.

 

[Viet]

Nation enjoys US$10.2 billion trade surplus to America
11:31 AM, 30/09/2012 | Voice of Vietnam

(VOV) - Vietnam enjoyed an export surplus of US$10.2 billion in trade with America over the first eight months of this year.

According to the General Statistics Office (GSO), two-way trade between Vietnam and America reached US$20.8 billion during the period, up 17 percent compared to the same time last year.

Vietnam exported goods worth US$15.5 billion to the continent while importing US$5.3 billion worth of products, representing year-on-year increases of 18 and 13 percent respectively.

The US remained Vietnam’s biggest trade partner with two-way trade reaching US$16.2 billion, up 18 percent year-on-year, followed by Brazil with US$1.2 billion (up 38 percent), Canada with US$1.04 billion (up 22 percent), Argentina with US$593 million (down 1 percent), and Mexico with US$549 million (up 30 percent).

Vietnam’s main exports to America are textiles and garments, footwear, and wood and seafood products. while it imports animal food, machinery, cotton, computers, and electronics and associated parts.

Nation enjoys US$10.2 billion trade surplus to America - Nation enjoys US$10.2 billion trade surplus to America - VOVNEWS.VN

 

[Viet]

RoK to invest $4 billion in Phong Nha-Ke Bang
| VGP | Oct 14, 2012 18:59 pm

The People&#8217;s Committee of Quang Binh province has just signed a memorandum of understanding (MoU) with ZETA Group Holding, a real estate investment organisation from the Republic of Korea, to build an international leisure center at the Phong Nha-Ke Bang National Park.

Accordingly, the project, worth $4 billion, will include a casino area, hotels and urban facilities on the mountains, providing outdoor entertainment activities and cave exploring tours in Phong Nha-Ke Bang.

The Phong Nha-Ke Bang National Park was listed in UNESCO World Heritage Sites in 2003, thanks to its system of 300 caves and grottos with a total length of 126 km discovered up to April 2009.

Before the discovery of the Son Doong, recognised as the world's largest cave, Phong Nha held several world cave records, as it has the longest underground river, as well as the largest caverns and passageways.

http://www.vir.com.vn/news/top-news/rok-to-invest-$4-billion-in-phong-nha-ke-bang.html

 

[Viet]

Samsung eyes investment expansion in Vietnam
| Tuoitrenews | Oct 15, 2012 08:30 am

Samsung, a South Korean tech group, is planning to pour more money into Vietnam with the construction of two new production facilities.

Samsung chairman Lee Kun Hee was cited by the government&#8217;s portal as saying Friday that the group is conducting studies to construct another technology complex in Vietnam following the success of the first in the northern province of Bac Ninh.

The plan follows Samsung's strong performance in Vietnam so far, Lee added, asserting there are still plenty of opportunities for investment in the country.

The facility in Bac Ninh has attracted 53 sub-investors that employed 50,000 workers since its inception four years ago.

It provides work for 24,000 people and makes 11 million products each month.

The conglomerate expects the production complex to yield over $10 billion in exports this year.

In a related development, the cellphone arm of Samsung said Saturday that it will build a $700 million cellphone manufacturing plant in the Southeast Asian country.

South Korean Yonhap News Agency reported that this decision came as part of the phone maker&#8217;s efforts to expand its global production lines.

Samsung is weighing up two northern locations for the plant, one in an agricultural area of Thai Nguyen Province and the other in the port city of Haiphong, the agency said, citing company officials.

The arm has operated a cellphone production chain that can produce 150 million products every year in Bac Ninh since 2009.

Vietnam Investment Review - Business - Samsung eyes investment expansion in Vietnam

 

[longyi]

China-Vietnam bilateral business cooperation expected to strengthen


HANOI, Oct. 20 (Xinhua) -- Bilateral trade and investment cooperation between China and Vietnam are expected to strengthen in the future as the two countries have similarities in culture and governance structure, according to Gu Chaoqing, chairman of Business Association of China in Vietnam.

In a recent interview with Xinhua, Gu, who has been in Vietnam for over ten years, said that he has witnessed many changes on investment environment and policies in Vietnam.

"Infrastructure has improved quickly in the past few years.When I just came here, there were only a few high buildings in Vietnam, but now people can see high and modern buildings mushrooming all over the country," Gu said.

Gu, however, said that Vietnam still has many things to do to further upgrade its infrastructure to meet the demands of its citizens and for businesses to flourish.

"For example, it takes at least one hour to travel only 30 kilometers of road, and an hour and a half if there is traffic jam, while in China, we only spend 20 minutes for that distance. This is a big waste of time," Gu said.

According to Gu, Vietnam also needs to further develop its support industries in order to create convenient conditions for businesses.

Gu said that the global economic crisis has affected Chinese investments in Vietnam, adding that in the past few years,Chinese investments were in all fields, but now it has shifted from quantity to quality.

Chinese investment in Vietnam now focuses mainly on garment and textile sector with two large-scale companies with investment of over 100 million U.S. dollars and two companies with around 30 million U.S. dollars, Gu said.

u said that in the past, Chinese investments were mostly in southern Vietnam but now they are concentrated in the border areas that are closer to China, particularly in the northern provinces of Quang Ninh, Lao Cai, Nam Dinh and Thai Binh.

Though facing many difficulties, Gu still expressed optimism about the economic prospects of Vietnam since the government is serious in upgrading the country's infrastructure and in improving its investment environment.

"If the infrastructure and support industries are upgraded,this would attract more foreign investors, including those from China, to invest in Vietnam," Gu said.

According to Vietnam's Ministry of Planning and Investment,as the end of September, China invested in 869 projects in Vietnam, worth over 4.52 billion U.S. dollars, ranking 14 out of 96 foreign investors in Vietnam.

Established in August 2001 under the support and approval of Chinese Embassy in Vietnam and the Vietnam Chamber of Commerce and Industry (VCCI), with over 600 member businesses, the Business Association of China in Vietnam plays a vital role in strengthening cooperation between the Vietnamese government and Chinese businesses as well as among Vietnamese and Chinese businesses.

China-Vietnam bilateral business cooperation expected to strengthen - Xinhua | English.news.cn

 

[cirr]

You are so smart. Is it true? That´s the first time for me to hear that Chinese business were cheated by Koreans.

Similar stories can be told not in hundreds but in thousands&#12290;

Visit cities such as Weihai&#12289; Yantai&#12289; Qingdao and Rongcheng etc&#12290;&#12290;&#12290;you will know that THIS has been&#65292;and continues to be&#65292;a serious problem&#12290;

Small and medium sized Korean entities are NOT known in China by their credibility.

Mega firms like Samsung and LG, are a different story.

 

[Battle of Bach Dang River]

First overpass opens to traffic in Hanoi
21/10/2012 | 16:06:00

A 9-km overpass which halves travel time between the west and the south of Hanoi opened to traffic on the morning of October 21.

The overpass or Belt 3, the first of its kind and the most modern in Vietnam, includes 385m access roads and a 8.5km road bridge. It has a total investment of nearly 5.6 trillion VND (268 million USD), which are the Japanese official development assistance and the Vietnamese Government&#8217;s capital.

Earlier, a segment of the overpass was put into operation on June 30.

The overpass has four lanes for cars running at a maximum speed of 100km/h. This is one of Hanoi&#8217;s key routes connecting three main transport axes in the north &#8211; Highway 1, Highway 5 and Thang Long Highway. It is expected to help ease congestion in the capital city.

First overpass opens to traffic in Hanoi -- Vietnam+ (VietnamPlus)

 

[Viet]

China-Vietnam bilateral business cooperation expected to strengthen

HANOI, Oct. 20 (Xinhua) --
"Infrastructure has improved quickly in the past few years.When I just came here, there were only a few high buildings in Vietnam, but now people can see high and modern buildings mushrooming all over the country," Gu said.

Gu, however, said that Vietnam still has many things to do to further upgrade its infrastructure to meet the demands of its citizens and for businesses to flourish.

"For example, it takes at least one hour to travel only 30 kilometers of road, and an hour and a half if there is traffic jam, while in China, we only spend 20 minutes for that distance. This is a big waste of time," Gu said.

That´s right. The problem is due to lack of fundings. We need US$ hundreds of billions to build and upgrade the infrastructure. China could help and finance some parts of projects! You have a lot of money, why not invest in VN?




HCM City (Saigon) prepares for new financial centre
| VIR/VNA | Oct 22, 2012 15:21 pm

Ho Chi Minh City ’s Department of Transport plans to kick off construction of four main roads at Thu Thiem new urban area in District 2, the city’s new financial centre, in June 2013.

With a total cost of around VND10 trillion (US$ 480 million) , the project will include an arch avenue, a central lake-side road, a Saigon River-side road and an overpass across the southern ecological garden.

To ensure progress of the project, the HCM City People’s Committee has assigned the Investment and Construction Board of the Thu Thiem new urban area to work with Vietnam Infrastructure Development and Finance Investment Joint Stock Company (VIDFI) to complete promptly all technical designs and procedures of the project.

According to Trang Bao Son, deputy head of Thu Thiem new urban area management board, the four roads are expected to be completed in 2015, giving the start for the formation of the Thu Thiem new urban area.

The area is located in Thu Thien peninsula, which closely connects two lands raised by the Saigon river, include An Khanh, Thu Thiem, An Loi Dong, Binh An and Binh Khanh wards of district 2, and faces the city’s existing centre by Saigon River. It is considered a heart of the city in the 21 st century with functions of a new modern urban area, financial, commercial and service centre.

Vietnam Investment Review - Top News - HCM City prepares for new financial centre

 

[djsjs]

That´s right. The problem is due to lack of fundings. We need US$ hundreds of billions to build and upgrade the infrastructure. China could help and finance some parts of projects! You have a lot of money, why not invest in VN?

local govt should make many efforts in order to get more investment,including policy, legal, administrative supports such as lower taxes, simplification of procedures, etc.Each our county has a China Merchants which give helps and supports to investors.This experience may be helpful for you.

for Chinese investors ,you need to release more goodwill.nobody dare invest in a place he may lose all his money even life someday.

 

[Viet]

China economy is number #2 in the world and it locates next to Vietnam, but it ranks #14 out of 96 foreign investors. That says a lot without words.

 

[Viet]

Mazda to build car engines in Vietnam
10/23/2012 9:00:00 AM | Voice of Vietnam

Japanese carmaker Mazda has intended to develop an engine factory in Vietnam with total investment capital of around US$600 million, the Dau tu (Vietnam Investment Review) reported.

The newspaper quoted a source as saying that the company had asked local authorities to recommend a suitable location for the plant. “The site may be in Hanoi or one of its neighbouring provinces,” the source said.

Vina-Mazda, a member of the Truong Hai Auto Co., opened a factory last October to assemble Mazda sedans in the Chu Lai Open Economic Zone in the central province of Quang Ngai.

This facility had an investment capital of VND750 billion (US$35.7 million) and will be capable of assembling 20,000 units per year by 2016.

If the project is materialized, it will help the development of an automobile industry that is yet to take shape in the country, the newspaper commented, noting that joint ventures here have only imported car components for assembly.

Truong Hai Auto communications officer Le Hoang Lan declined to provide any detailed information.

The US$185.5 million Chu Lai-Truong Hai engine manufacturing factory, the construction of which started in June, is the only engine production project in the country at present. It is expected to turn out 20,000 engines per year when it goes into operation.

Germany’s Robert Bosch Co also has a factory which produces driving belts for car gear-boxes with investment capital of 100 million euros (US$130 million), an amount expected to be raised to 230 million euros (US$299 million) by 2015, but all of its products are exported to Japan.

Deputy Prime Minister Hoang Trung Hai said national strategies prioritized the development of mechanical products which could take part in global production networks and value chains, as well as helping foster domestic support industries.


Mazda to build car engines in Vietnam | VOV Online Newspaper

 

[Battle of Bach Dang River]

South Korean firm plans to build casino in Vietnam national park
Last Updated: Tuesday, October 16, 2012 10:40:00

South Korea's Zeta Plan and Investment Co. hopes to build a casino at the Phong Nha-Ke Bang National Park in central Vietnam.

Quang Binh Province authorities have suggested two locations to the company, Tram and Chay Lap Hamlets, which are located near the national park, the news web site thesaigontimes.vn reported Monday.

The park, which is more than 85,700 hectares, was named in UNESCO's world heritage list in 2003.

Zeta plans to build a casino, hotel, and outdoor tourism attractions in an international amusement complex, according to the local authorities.

The project is estimated to cost more than US$4 billion.

According to a draft decree from the Ministry of Finance, to enter the casino business investors are required to have a registered capital of at least $4 billion and at least 10 years's experience in operating casinos.

Only five-star hotels or resorts are allowed to open casinos.

Investors will have to seek approval from a minimum of five ministries and other government agencies before their applications go to the prime minister.

Casinos remain restricted areas since only non-Vietnamese can enter them.

There are four casinos in Vietnam, all of them are small and in the north.

Vietnam latest news - Thanh Nien Daily | South Korean firm plans to build casino in Vietnam national park

-------------------------------




Now why do many foreign companies want to build casino in Vietnam?

 

[ViXuyen]

First smartphone produced by Viet Nam (Viettel Corp), price is $1.5 million Dong. This is how Viet Nam is working to displace foreign electronic companies out of Viet Nam (probably in the 2020's)