Central Vietnam province mulls Korean firm's tourism resort plans

By Tri Duc
Tue, January 16, 2024 | 3:30 pm GMT+7

Vietnam’s central province of Thua Thien-Hue aims to complete procedures to facilitate the initiation of a 282-hectare tourism resort invested by South Korean multi-sector business Daewon.

Thua Thien Hue Chairman Nguyen Van Phuong made the commitment at a Monday meeting with Cheun Eung Sik, chairman of Daewon, adding that relevant agencies would cooperate with the firm on the project's deployment.

For his part, the South Korean executive urged provincial authorities to also facilitate trips by South Korean visitors in a move to attract more travelers to the central province.

Thua Thien-Hue Chairman Nguyen Van Phuong (center, right) at a meeting with Daewon chairman Cheun Eung Sik in the central province on January 15, 2024. Photo courtesy of Thua Thien-Hue newspaper.

Thua Thien-Hue Chairman Nguyen Van Phuong (center, right) at a meeting with Daewon chairman Cheun Eung Sik in the central province on January 15, 2024. Photo courtesy of Thua Thien-Hue newspaper.

Daewon’s project features 231 hectares in Hue town and 50 hectares in Huong Tra town. It aims to build accommodation facilities, an 89.9-hectare golf course, event venues, hotels, resorts, and commercial centers.

Provincial authorities are collecting feedback on the draft plan for the urban area project on a 1-to-2,000 scale and are set to grant in-principle approval to the project later this year.

In Vietnam, Daewon is well-known for many high-end projects in the housing sector, such as Cantavil Premier, Cantavil An Phu, Cantavil Hoan Cau, and Centum Wealth Complex in Ho Chi Minh City. However, it is also known as an investor in the delayed Da Phuoc international urban area in Danang, with a link to notorious criminal Phan Van Anh Vu.

Comments (0)
  • Read More
Vietnam faces complex challenge as counterfeits shift to cyberspace

Vietnam faces complex challenge as counterfeits shift to cyberspace

Even as the prevalence of counterfeit goods in traditional markets has dropped significantly, their online presence has become a growing concern, says Nguyen Ngoc Ty, CEO of Non Son Fashion Company Limited, a company dedicated to producing and selling hats and helmets.

Economy - Wed, November 13, 2024 | 7:21 pm GMT+7

Japan food firm Kyokuyo completes $14 mln factory in southern Vietnam

Japan food firm Kyokuyo completes $14 mln factory in southern Vietnam

Kyokuyo Vina Foods Co., Ltd., under Japan’s food firm Kyokuyo, has completed the construction of a JPY2.1 billion ($13.5 million) factory, its first facility in Vietnam.

Companies - Wed, November 13, 2024 | 4:23 pm GMT+7

StanChart arranges $100 million syndicated loan for Vietnam-based Stavian Chemical

StanChart arranges $100 million syndicated loan for Vietnam-based Stavian Chemical

Standard Chartered Vietnam has acted as the sole mandated lead arranger and bookrunner in a $100 million maiden offshore syndicated loan transaction for Stavian Chemical JSC.

Banking - Wed, November 13, 2024 | 4:19 pm GMT+7

Vietnam dong hits historic low

Vietnam dong hits historic low

The Vietnamese dong (VND) has reached a historic low against the U.S. dollar (USD) as the greenback continues strengthening on the international market.

Banking - Wed, November 13, 2024 | 3:48 pm GMT+7

Vietnam gov't seeks parliamentary green light for colossal high-speed railway project

Vietnam gov't seeks parliamentary green light for colossal high-speed railway project

An ambitious plan to build a transnational high-speed railway route has been proposed to the Vietnamese parliament for approval amid concerns about the project’s financial feasibility.

Infrastructure - Wed, November 13, 2024 | 3:19 pm GMT+7

Climate change can cut Asia-Pacific GDP by 16.9%, Vietnam by 30%: ADB

Climate change can cut Asia-Pacific GDP by 16.9%, Vietnam by 30%: ADB

By 2070, climate change under a high-end emissions scenario can cause a total loss of 16.9% of GDP across the Asia-Pacific region, the Asian Development Bank (ADB) has said in its “Asia-Pacific Climate Report 2024.”

Economy - Wed, November 13, 2024 | 3:11 pm GMT+7

Japan beverage maker Suntory sees Jan-Sept Vietnam revenue rise to $749 mln

Japan beverage maker Suntory sees Jan-Sept Vietnam revenue rise to $749 mln

Japan-based brewing and distilling firm Suntory, a partner in Vietnam-based Suntory PepsiCo Vietnam Beverage Co. Ltd., earned in-country revenues of JPY116 billion ($749.2 million) in the first nine months of this year.

Companies - Wed, November 13, 2024 | 2:18 pm GMT+7

EV maker VinFast secures extra $3.4 bln funding from founder, Vingroup

EV maker VinFast secures extra $3.4 bln funding from founder, Vingroup

VinFast, the electric vehicle (EV) arm of Vietnam's private conglomerate Vingroup, is set to receive financial aids of VND85 trillion ($3.36 billion) from its parent firm and Vingroup chairman-founder Pham Nhat Vuong.

Companies - Wed, November 13, 2024 | 10:54 am GMT+7

Vietnam gov’t proposes nuclear power project revival as energy demand surges

Vietnam gov’t proposes nuclear power project revival as energy demand surges

The Vietnamese government has proposed resuming the nuclear power project and accelerating offshore wind power development as energy demand is forecast to grow by two-digit rates to accommodate economic growth.

Energy - Wed, November 13, 2024 | 10:41 am GMT+7

Bamboo Capital at 13: deep roots, towering shoots

Bamboo Capital at 13: deep roots, towering shoots

Vietnamese firm Bamboo Capital began its journey in 2011 as a small but promising startup. Thirteen years later, it has grown into a powerful multi-sector conglomerate.

Bamboo Capital - Wed, November 13, 2024 | 8:58 am GMT+7

Vietnam media giant YeaH1 profits handsomely from TV shows, divestments

Vietnam media giant YeaH1 profits handsomely from TV shows, divestments

YeaH1 Group, a leading media and entertainment company in Vietnam, reported an impressive profit in the first nine months of the year as also surging stock prices.

Companies - Wed, November 13, 2024 | 8:39 am GMT+7

Korea’s digital twin firm The PICT expands Asian presence with Vietnam branch

Korea’s digital twin firm The PICT expands Asian presence with Vietnam branch

The PICT, a South Korean AI-driven digital twin and immersive content company, has established GEO Impact, its new branch in Ho Chi Minh City, Vietnam’s southern economic hub.

Companies - Wed, November 13, 2024 | 8:14 am GMT+7

Vietnam GDP can grow 6.7% or more in 2025: HDBank exec

Vietnam GDP can grow 6.7% or more in 2025: HDBank exec

Vietnam’s GDP growth in 2025 could reach 6.7% or more, says Tran Hoai Nam, deputy general director of Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank).

Economy - Wed, November 13, 2024 | 7:26 am GMT+7

Indonesia calls on US investors to support sustainable growth

Indonesia calls on US investors to support sustainable growth

Indonesian President Prabowo Subianto has urged U.S. business leaders to prioritize environmental, social, and governance (ESG) principles when investing in his country.

Southeast Asia - Wed, November 13, 2024 | 12:46 am GMT+7

Grab raises annual revenue forecast

Grab raises annual revenue forecast

Singapore's Grab Holdings has raised its forecast for fiscal 2024 revenue, as the firm anticipates robust growth in its food delivery and ride-hailing business services during the busy holiday season.

Southeast Asia - Wed, November 13, 2024 | 12:44 am GMT+7

Thai baht lags behind peers on concerns over central bank's autonomy

Thai baht lags behind peers on concerns over central bank's autonomy

Thailand’s currency has fallen the most among Asian peers on investor concerns that the independence of the country’s central bank is being further eroded.

Southeast Asia - Wed, November 13, 2024 | 12:42 am GMT+7