Hai Phong builds $262 mln twin towers
Five-star twin towers are being built on the site of a market dating back to the 19th century in Hai Phong, Vietnam’s third largest city.
Saigon Garment-Match Joint Stock Company on Saturday commenced construction on the entertainment, trade, hotel and office complex project, capitalized at VND6,060 billion ($262.4 million).
The towers, located on 5,000 square meters in Hong Bang district, will have 40 stories including two basements.
The complex is set to enter operation in 2025, after 36 months of construction.
An illustration of the five-star twin towers project in Hai Phong city, northern Vietnam. Photo courtesy of Saigon Garment-Match JSC.
Vice Chairman of Hai Phong Le Anh Quan said this is one of two key construction projects in the city this year, contributing to transforming Hai Phong into a modern, civilized urban center in Asia.
Chu Ngoc Minh, General Director of the Ho Chi Minh City-based Saigon Garment-Match JSC, said the towers are a symbol of Hai Phong’s development and mark his firm’s entry to the northern region.
Sat (Iron) Market, located at a junction near Tam Bac River in Quang Trung street, was built during the French colonial period. It used to be a trading center of Hai Phong and the Red River Delta.
The market was upgraded into a six-story service and trade complex in 1992, but it rapidly deteriorated, losing its appeal and role as a commercial city hub.
- Read More
New industrial hub Bac Giang province plans 10th industrial park
Bac Giang province, a new manufacturing center in northern Vietnam, plans to develop the Thai Dao-Tan An Industrial Park targeting modern, environmentally friendly industries.
Industrial real estate - Mon, April 15, 2024 | 1:53 pm GMT+7
Vietnam’s Q1 auto sales down 17% to 58,165 units
The Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 58,165 units in the first quarter of 2024, down 17% year-on-year.
Companies - Mon, April 15, 2024 | 12:11 pm GMT+7
Thai shareholder to pocket $22.7 mln as Binh Minh Plastics pays dividends of 126%
Major shareholder Nawaplastic Industries, a member of Thailand’s Siam Cement Group (SCG), will receive over VND567 billion ($22.65 million) in cash as Binh Minh Plastics JSC plans to devote up to 99% of its 2023 after-tax profit to dividends at a rate of 126%.
Companies - Mon, April 15, 2024 | 11:08 am GMT+7
Japan’s Meiko kick-starts $500 mln project in northern Vietnam
Japan-headquartered Meiko Electronics broke ground on a factory last weekend to produce printed circuit boards (PCB) in the northern province of Hoa Binh, its fifth plant in Vietnam.
Industries - Mon, April 15, 2024 | 11:00 am GMT+7
Vietnam deposit interest rates pick up after year in hibernation
Banks in Vietnam have been raising deposit interest rates since the end of March, and experts believe that rates will continue to climb for the rest of the year, given improved economic performance and stabilized inflation.
Finance - Mon, April 15, 2024 | 8:16 am GMT+7
Vietnamese securities firms reap profits on stock market rallies
A chorus of Vietnamese securities firms have announced impressive profit estimates for the first quarter of this year, thanks to positive market developments.
Finance - Sun, April 14, 2024 | 8:08 pm GMT+7
Leading Vietnam retailer Mobile World targets 14-fold increase in after-tax profit
Mobile World Investment Corporation (MWG) has set 2024 revenue and after-tax profit targets of VND125 trillion ($4.99 billion) and VND2.4 trillion ($95.86 million), up 6% and 14.2 times year-on-year, respectively.
Companies - Sun, April 14, 2024 | 3:45 pm GMT+7
Vietnam, Sweden celebrate 55 years of ties with cuisine bond
The Swedish embassy in Hanoi has held a culinary event as part of its activities to celebrate the 55th anniversary of Vietnam-Sweden diplomatic relations this year.
Society - Sun, April 14, 2024 | 2:35 pm GMT+7
Banking, securities stocks lead Vietnam market surge
The Vietnamese stock market witnessed an explosive week-ending trading session in terms of score and liquidity on the back of strong rallies by banking and securities stocks.
Finance - Sun, April 14, 2024 | 11:37 am GMT+7
National Citizen Bank to double charter capital to $471 mln
Vietnam's National Citizen Bank (NCB) on Saturday reaffirmed a plan to issue private placement shares to increase its charter capital by VND6.2 trillion to VND11.8 trillion ($471.3 million).
Companies - Sun, April 14, 2024 | 10:09 am GMT+7
Hanoi, HCMC primary condo prices move in opposite directions
Primary prices of condominiums in Hanoi soared in Q1/2024 on high demand from homebuyers, but slid in Ho Chi Minh City, according to major property service firms Savills and CBRE.
Real Estate - Sun, April 14, 2024 | 8:00 am GMT+7
Swire Coca-Cola earns 2023 profit of $44 mln in Vietnam
Swire Coca-Cola, the beverage division under Hong Kong-based Swire Pacific, earned a revenue of KHD3,734 million ($476.4 million) in Vietnam in 2023, the parent firm said in its annual report.
Companies - Sun, April 14, 2024 | 7:00 am GMT+7
Peaceful fishing village on northern Vietnam's Da River
In the vibrant town of Hoa Binh, the northern province of Hoa Binh, nestled amid majestic mountains and winding rivers, lies a serene fishing village at the foot of the Hoa Binh 3 bridge.
Travel - Sat, April 13, 2024 | 10:46 pm GMT+7
Hanoi-based firm eyes green hydrogen-ammonia plant in Phu Yen province
Hanoi-based Minh Thach D&L Green Hydrogen JSC has proposed to invest in a green hydrogen-ammonia plant in the South Phu Yen Economic Zone, Vietnam's south-central province of Phu Yen.
Energy - Sat, April 13, 2024 | 10:45 pm GMT+7
200 drones light up Hanoi’s Thay Pagoda Festival
Hanoi’s Thay Pagoda Festival, organised alongside a ceremony to receive the National Intangible Cultural Heritage of Thay Pagoda, is taking place at the pagoda area from April 12-16.
Travel - Sat, April 13, 2024 | 10:13 pm GMT+7
Two cultural elements in northwestern Vietnam named national intangible cultural heritage
The Ministry of Culture, Sports and Tourism has recently inscribed the decorative art on costumes of the Lao ethnic group and the making of khau xen and chi chop cakes by the White Thai ethnic group on the National Intangible Cultural Heritage list.
Travel - Sat, April 13, 2024 | 10:09 pm GMT+7
