Cam Ranh to become economic, logistics center of Vietnam's Khanh Hoa province
Cam Ranh will be developed into an economic, cultural, educational, scientific and technical center in the southern area of Khanh Hoa province, according to the town's adjusted plan, recently approved by the provincial People’s Committee.
A corner of Cam Ranh, Khanh Hoa province, south-central Vietnam. Photo by Vietnam News Agency.
The town is expected to have a population of 320,000 by 2030 and 823,000 by 2045, from the current 130,000.
The north and east of Cam Ranh have been earmarked for urban area development, while to the west will be on natural preservation, eco-agriculture, eco-tourism, and renewable energy. The eastern coastal area of Cam Ranh Bay will be for tourism.
Cam Ranh holds a strategic location for national defence and security and will be synchronously connected with the Cam Lam airport urban area in accordance with the Poliburo’s resolution 09-NQ-TW dated January 28, 2022 on the development orientation of Khanh Hoa to 2030, with a vision to 2045.
Nguyen Tan Tuan, Chairman of the provincial People’s Committee, said that the focus will be on raising resources for technical infrastructure development.
Cam Ranh is the second town in Khanh Hoa province, alongside Nha Trang.
It is home to the famed Cam Ranh Bay and Binh Ba Island, and is considered in the same tourism league as San Francisco Bay is to the U.S. and Rio de Janeiro is to Brazil.
The city also has Cam Ranh airport, which has the largest and longest runway in Vietnam today.
- Read More
Japan retailer Aeon begins building $164 mln mall in central Vietnam
Aeon Mall Vietnam, under Japanese retail giant Aeon Mall, kicked off the construction of its VND4,157 ($163.8 million) Aeon Mall Thanh Hoa in the central province of Thanh Hoa on Monday.
Industries - Tue, December 10, 2024 | 10:25 am GMT+7
Japanese firms ask for immigration procedures to be eased, VAT invoice issuance quickened
Japanese companies urged for immigration procedures to be eased, issuance of VAT invoices expedited, and traffic congestions addressed in a dialogue with Ho Chi MInh City leaders on Monday.
Economy - Tue, December 10, 2024 | 9:45 am GMT+7
New legislative changes to foster growth across various sectors: lawyer
The National Assembly, Vietnam's legislature, in late November 2024 passed 18 new and amendment laws, along with 21 resolutions. Anh Dang, a senior partner at Vilaf law firm, offers an insight into key aspects of several new laws that will come into force in 2025 and their potential impact on business activities.
Consulting - Tue, December 10, 2024 | 8:15 am GMT+7
Indonesia’s GDP to reduce by $1.3 bln due to VAT hike
The planned increase in Indonesia’s value-added tax (VAT) rate from 11% to 12% could reduce the country's GDP by IDR 21 trillion ($1.3 billion), economists warned.
Southeast Asia - Mon, December 9, 2024 | 11:12 pm GMT+7
Southeast Asia poised to become global AI hub
In the first half of 2024, Southeast Asia attracted over $30 billion in artificial intelligence (AI) infrastructure investments, according to the 2024 e-Conomy SEA Report from Google, Temasek, and Bain & Company.
Southeast Asia - Mon, December 9, 2024 | 11:00 pm GMT+7
Vietnam deposit interest rates remain low, only 1 ppt higher than inflation: expert
Current deposit rates offered by Vietnamese banks, despite several hikes, are still low, just 1 percentage point higher than inflation - a gap similar to that in developed countries.
Banking - Mon, December 9, 2024 | 10:30 pm GMT+7
Role of sustainable supply chains – building a resilient future
Sustainability is a rapidly growing priority that has become central to how corporates in Asia are planning to govern their supply chains and respond to customer expectations, writes Surajit Rakshit, country head of global trade solutions at HSBC Vietnam.
Consulting - Mon, December 9, 2024 | 9:28 pm GMT+7
Minh Ngoc Steel: A 'quiet' major player in hydroelectric sector
Minh Ngoc Producing and Trading Co., Ltd. (Minh Ngoc Steel), founded by entrepreneur Dong Tuan Vu, has quietly made its mark on the hydroelectric sector, in addition to establishing itself as a key player in the steel industry.
Companies - Mon, December 9, 2024 | 5:14 pm GMT+7
Greenwell Energy Canada seeks to supply LNG for Vietnam
Greenwell Energy (Canada), under the United States-based Greenwell Energy, plans to build an LNG terminal in Vietnam’s central province of Thanh Hoa to supply LNG in the country.
Energy - Mon, December 9, 2024 | 4:21 pm GMT+7
Amkor Technology’s $1.6 bln project in Vietnam needs 2,800 workers
The $1.6 billion project of U.S.-headquartered semiconductor giant Amkor Technology in Vietnam is set to have a labor demand of 2,800 during stable operations, according to a recent project report.
Companies - Mon, December 9, 2024 | 3:30 pm GMT+7
Revenues of LG Electronics’ Vietnam factories up 24% to $6 bln in Jan-Sept
LG Electronics’ factories in Vietnam, LG Innotek Vietnam Hai Phong and LG Electronics Vietnam Hai Phong, recorded a total revenue of KRW8,532 billion ($6.02 billion) in the first nine months of 2024, up 24% year-on-year.
Companies - Mon, December 9, 2024 | 10:55 am GMT+7
Leading Vietnamese insurer Bao Minh lowers profit, dividend targets due to typhoon
Vietnam’s Bao Minh Insurance Corporation has revised its profit and dividend targets for 2024 following the increased compensation costs stemming from super typhoon Yagi, which severely impacted the northern region.
Finance - Mon, December 9, 2024 | 10:29 am GMT+7
Foreign capital flow key indicator for Vietnam stock market: expert
Foreign net buying/selling in the coming period will be a crucial indicator for Vietnam’s benchmark VN-Index, as foreign investors play a significant role in shaping market sentiment, according to Yuanta Vietnam Securities JSC's chief analyst.
Finance - Mon, December 9, 2024 | 9:38 am GMT+7
Vietnam's rice exports reach a record high
Vietnam’s rice exports achieved a record-breaking $5.3 billion revenue in the first 11 months of the year, up 22.4% year-on-year and 10.8% against the whole 2023.
Economy - Mon, December 9, 2024 | 8:00 am GMT+7
Southernmost Ca Mau province moves to better tap eco-tourism strengths
The Ca Mau World Biosphere Reserve, which includes the Ca Mau National Park, the U Minh Ha National Park, and the coastal protective forests, not only offers substantial economic benefits but also provides a clean environment that can provide many attractive ecological tourism experiences for visitors.
Travel - Sun, December 8, 2024 | 8:16 pm GMT+7
Vietnamese firms face numerous barriers in green transformation
Enterprises require significant capital to invest in machinery and production processes to embrace green transformation, says Nguyen Quoc Anh, chairman of the Ho Chi Minh City Rubber-Plastic Association.
Companies - Sun, December 8, 2024 | 8:06 pm GMT+7
