Ha Tinh province hands over 88% of land for $63 mln VSIP industrial park
Vietnam's central province of Ha Tinh has handed over 88% of land earmarked for Bac Thach Ha Industrial Park project to the developer, Vietnam-Singapore Industrial Park J.V. Co. Ltd. (VSIP).
Thach Ha district needs to reclaim 190.41 hectares for the project in Thach Lien and Viet Tien communes, according to local authorities.
The land reclamation will affect 633 households in the two communes, along with a graveyard and technical and electrical infrastructure.
Thach Ha district has issued a decision approving compensation for 169.85 hectares of agricultural land with a total cost of nearly VND210 billion ($8.48 million), of which VND207.5 billion will be paid to residents. The locality has already paid VND206.2 billion to affected households.
The first phase of the Bac Thach Ha Industrial Park project (VSIP Ha Tinh), with a total investment of VND1.56 trillion ($63 million), received the Prime Minister’s in-principle approval on August 29, 2023. It has an operation term of 50 years.
VSIP is a joint venture between Vietnamese real estate developer Becamex and Singapore’s Sembcorp.
In a release in late 2023, VSIP said it will proceed to incorporate a wholly-owned subsidiary in Vietnam to develop the first phase of VSIP Ha Tinh, and is expecting to complete the incorporation in the first quarter of 2024.
Per an agreement signed between Sembcorp and Becamex in August 2023, the two sides will build four additional VSIP facilities, raising the VSIP portfolio across Vietnam to 17. They will also conduct feasibility studies for 10 more.
- Read More
Daughter of Vietnam jewelry major PNJ head to spend $15 mln on company’s shares
Tran Phuong Ngoc Thao, vice chairwoman of Phu Nhuan Jewelry JSC (PNJ), has registered to purchase 4 million PNJ shares between December 18 and January 16, 2025.
Finance - Sun, December 15, 2024 | 10:20 am GMT+7
Exchange rate to cool down, deposit interest rates to inch up by year-end: broker
While the VND/USD exchange rate may cool off toward the VND25,000 mark, interest rates on savings could see modest increases over the rest of the year, broker MB Securities (MBS) said in its latest macroeconomic report.
Banking - Sun, December 15, 2024 | 10:03 am GMT+7
US policy changes likely to impact Asia and Pacific growth
Asia and the Pacific’s economic growth will remain steady this year and next, but expected U.S. policy changes under the incoming administration of President-elect Donald Trump are likely to affect the region’s longer-term outlook, write Asian Development Bank (ADB) analysts in the latest edition of Asian Development Outlook (ADO).
Consulting - Sun, December 15, 2024 | 8:00 am GMT+7
Vietnamese hospitality firm Vinpearl seeks to mobilize $197 mln before stock relisting
Vinpearl JSC, the hospitality arm of Vietnam's leading private conglomerate Vingroup, will offer more than 70 million shares to the public at VND71,350 apiece, for proceeds of over VND5,000 billion (nearly $197 million).
Finance - Sat, December 14, 2024 | 10:12 pm GMT+7
Vietnam has 174 FDI projects in semiconductor sector: minister
Vietnam is now hosting 174 foreign-invested projects in the semiconductor sector, with a total registered capital of nearly $11.6 billion, according to Minister of Planning and Investment Nguyen Chi Dung.
Industries - Sat, December 14, 2024 | 4:47 pm GMT+7
‘Euro’ leads Vietnam’s most trending Google search in 2024
Google has released its “Year in Search” list for 2024, with "Euro" emerging as the most trending search term among Vietnamese internet users.
Society - Sat, December 14, 2024 | 3:35 pm GMT+7
Vietnam Airlines posts first profit in 4 years, record revenue since listing
National flag carrier Vietnam Airlines JSC is estimated to earn VND6.26 trillion ($246.57 million) in pre-tax profit in 2024, marking its first return to profitability since 2020.
Companies - Sat, December 14, 2024 | 2:56 pm GMT+7
Fraud in coconut growing area codes must be strictly addressed: Vina T&T Group exec
The buying and selling of growing area codes in the coconut sector are severely damaging Vietnam's reputation and competitiveness, says Nguyen Phong Phu, deputy technical director of Vina T&T Group.
Companies - Sat, December 14, 2024 | 12:11 pm GMT+7
KKR's investment portfolio features 4 firms in Vietnam
American global investment firm KKR currently has investments in four Vietnam-based companies, namely EQuest Education Group, KiotViet, Saigon Medical Group, and Vinhomes.
Investing - Sat, December 14, 2024 | 7:56 am GMT+7
Vietnam Aeon's second most important market: exec
Vietnam is retail giant Aeon's second most important market, after Japan, says Kazaoka Takao, chief merchandising officer at Aeon Vietnam.
Companies - Fri, December 13, 2024 | 11:18 pm GMT+7
Thai gov't collaborates with Google to combat cyber threats
The Thai government has intensified efforts to combat severe cyber threats, particularly malicious applications that siphon funds from users' accounts.
Southeast Asia - Fri, December 13, 2024 | 10:25 pm GMT+7
S&P affirms Thailand's BBB+ credit rating with stable outlook
S&P Global Ratings has reaffirmed Thailand’s sovereign credit rating at BBB+ with a stable outlook.
Southeast Asia - Fri, December 13, 2024 | 10:20 pm GMT+7
USD price likely to hit VND25,450 by Q2/2025: StanChart
Standard Chartered forecasts Fed rate cuts, which should lead to a softer-USD bias over the next few quarters, will result in the exchange rate of USD/VND at 25,250 by the end of 2024 and 25,450 by Q2/2025.
Economy - Fri, December 13, 2024 | 10:03 pm GMT+7
ThaiBev earns $1.71 bln revenue from Vietnam in fiscal year 2024
Thailand’s largest beverage firm Thai Beverage (ThaiBev) earned a revenue of THB58,319 million ($1.71 billion) in Vietnam in fiscal year 2024 (ending September 30, 2024), down 2.7% year-on-year.
Companies - Fri, December 13, 2024 | 6:59 pm GMT+7
56.1% of Japanese firms target expansion in Vietnam: survey
As many as 56.1% of Japanese firms aim to expand their activities in Vietnam in the next one to two years, reflecting their stable business confidence, according to a survey of the Japan External Trade Organization (Jetro) for fiscal year 2024.
Economy - Fri, December 13, 2024 | 6:51 pm GMT+7
Former Prime Minister Nguyen Xuan Phuc disciplined
The Politburo, Vietnam’s supreme decision-making body, on Friday issued warnings to former PM Nguyen Xuan Phuc and former Deputy PM Truong Hoa Binh, while reprimanding Truong Thi Mai, former Secretary of the Party Central Committee, for their violations while on duties.
Politics - Fri, December 13, 2024 | 4:33 pm GMT+7