Construction of Vietnam’s tallest, 108-storey building to begin in Hanoi next month
Construction of the 108-storey Phuong Trach Tower, Vietnam’s tallest building, will begin November 10, said Nguyen Thi Tuyen, vice chief of Hanoi's Party Committee.
The work’s inauguration is part of commemorations of the 50th anniversary of Vietnam-Japan relations, she said at a mid-week meeting with Japanese Ambassador to Vietnam Yamada Takio.
Phuong Trach Tower is part of a $4.2 billion, 272-hectare BRG smart city project in Dong Anh district. In June 2018, a joint venture between Vietnam’s BRG Group and Japan’s Sumitomo was granted an investment certificate for the project.
A launching ceremony for project construction was held in October 2019, but actual work couldn’t begin because of the delay in completing a detailed 1-to-500 scale plan.
Tuyen noted that a municipal delegation was set to visit Japan next month in order to review 10 years of Hanoi-Tokyo cooperation and to sign an extension agreement.
She lauded the contributions of Japanese firms in Hanoi, saying they have helped propel the city’s strong economic growth with undisrupted activities in the post-pandemic period, and provision of healthcare for experts and workers during the Covid-19 pandemic.
The Japanese ambassador said he appreciated the city’s support for businesses and vowed to facilitate the upcoming Japan visit by a Hanoi delegation.
The diplomat also called on the capital city’s authorities to further support several major projects including a smart city to the north of Hanoi, the Yen Xa wastewater treatment factory and the Vietnam-Japan University.
Vietnam’s current highest tower is Vingroup’s Landmark 81 in Ho Chi Minh City. Landmark 81 was inaugurated in July 2018, dethroning Hanoi's Keangnam Landmark 72, which opened in 2011. Earlier, the tallest building in the country was the 68-floor Bitexco Financial Tower in HCMC, inaugurated in 2010.
- Read More
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
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
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
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
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
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-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
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
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
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
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
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’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
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
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
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