Malaysian realty developer Pavilion plans $1.4 bln complex in Vietnam, embracing MotoGP
Pavilion International, a leading real estate developer in Malaysia, plans to invest $1.4 billion in building a resort, entertainment and sports complex in the Mekong Delta city of Can Tho.
Global Partnership, Pavilion’s representative company in Vietnam, signed a memorandum of understanding (MoU) with local authorities regarding the move at an investment promotion conference held in Can Tho late last week.
Tran Thi Quynh Van (center), CEO of Global Partnership, is flanked by Tran Viet Truong, Can Tho Chairman (left) and Nguyen Van Hieu, Secretary of the Can Tho Party Committee, at a conference in the Mekong Delta city, southern Vietnam, December 10, 2023. Photo courtesy of Thanh Nien (Young People) newspaper.
An outstanding feature of the complex will be a Grand Prix motorcycle (MotoGP) racing track, helping Vietnam enter the MotoGP map, said Pavilion International chairman Bobby Yeoh Lam Jit.
Can Tho has been hosting national racing competitions for 120cc and 150cc motorbikes, and a MotoGP track would be warmly received in the city, said Truong Cong Quoc Viet, deputy director of the municipal Department of Culture, Sports and Tourism.
Can Tho boasts the advantage of being the beneficiary of heavy national investment in traffic infrastructure in the Mekong Delta including expressways, railways, seaports, and airports, said Tran Thi Quynh Van, CEO of Pavilion International.
A motorbike race held in Can Tho city, Mekong Delta. Photo courtesy of Lao Dong (Labor) newspaper.
Can Tho authorities granted investment certificates and signed MoUs worth over VND110 trillion ($4.54 billion) on the conference’s sidelines.
Prominent among them were the Vietnam-Singapore Industrial Park (VSIP) investing VND7,250 billion ($298 million) in building the Vinh Thanh 2 Industrial Park; local business Thanh Binh Phu My investing VND8,380 billion ($345 million) in building phase 2 of Vinh Thanh Industrial Park; and leading industrial real estate developer Kinh Bac City Development Holding Corp investing VND17,000 billion ($700 million) in building the Co Do-Thoi Lai Industrial Park and the O Mon High Tech Park.
- Related News
- Read More
Vietnam’s solar strategy for trade-tense times
Prime Minister Pham Minh Chinh on April 15 issued Decision 768 approving Vietnam's Amended National Power Development Plan VIII for 2021-2030, with vision to 2050. The decision reaffirms the government's commitment to renewable energy and positions the country as a regional frontrunner in the global energy transition, writes Dr Nguyen Vinh Khuong, a lecturer in electronic and computer systems engineering at RMIT Vietnam.
Consulting - Mon, May 12, 2025 | 2:36 pm GMT+7
Vietnam's pepper exports surge 58% in value despite lower volume
Vietnam’s pepper exports in early 2025 saw a significant rise in value despite a drop in volume, thanks to sharp increases in export prices.
Companies - Mon, May 12, 2025 | 1:30 pm GMT+7
Vietnam’s chemical giant launches e-commerce platform
State-owned Vietnam National Chemical Group (Vinachem) unveiled its e-commerce platform VinachemMart in Hanoi on Saturday, a move demonstrating its bold green and digital transformation strategy.
Companies - Mon, May 12, 2025 | 1:24 pm GMT+7
Central Vietnam city Danang seeks investors for $69.3 mln semiconductor chip lab
Danang city is seeking investors for a VND1.8 trillion ($69.29 million) project to establish a laboratory dedicated to advanced chip packaging technology.
Industries - Mon, May 12, 2025 | 12:53 pm GMT+7
Vietnam’s private economy resolution requires different implementation approach: economist
Resolution 68-NQ/TW, issued on May 4, 2025 by the Politburo - the country's supreme decision-making body, introduces breakthrough perspectives on the position and role of the private sector, says Dr. Nguyen Dinh Cung, former director of the Central Institute for Economic Management (CIEM),
Economy - Mon, May 12, 2025 | 9:38 am GMT+7
Vingroup subsidiary expects 17-fold surge in net profit
Vietnam Exhibition Fair Centre JSC (VEF), a subsidiary of conglomerate Vingroup, said it targets to rake in a net profit of VND16 trillion ($615.89 million) in 2025, nearly 17 times higher than last year’s figure.
Companies - Mon, May 12, 2025 | 8:22 am GMT+7
Vietnam, Russia sign cooperation agreements in diverse sectors
Vietnam’s Party General Secretary To Lam and Russian President Vladimir Putin witnessed the exchange of cooperation documents between the two countries following their Moscow summit meeting on May 10.
Politics - Sun, May 11, 2025 | 10:28 pm GMT+7
Russian heavyweights seek opportunities in Vietnam's energy, high-tech fields
Prominent Russian companies Zarubezhneft, AFK Sistema, and Positive Technologies are seeking investment opportunities in energy and high technology in Vietnam.
Industries - Sun, May 11, 2025 | 10:16 pm GMT+7
Vietnam, Russia adopt major orientations to chart course for bilateral ties
Vietnam and Russia have adopted a Joint Statement on major orientations to chart course for bilateral relations on the occasion of Party General Secretary To Lam's official visit to Russia from May 8-11.
Politics - Sun, May 11, 2025 | 9:18 pm GMT+7
Vietnam's leading tour operator Vietravel before capital hike: Revenue grows, profit shrinks
Ho Chi Minh City-based Vietravel has seen strong revenue growth over the past three years on the tourism industry's post-pandemic recovery, but its profit has continued to decline, with a profit margin of only around 0.5%.
Companies - Sun, May 11, 2025 | 1:34 pm GMT+7
Central Vietnam province Binh Dinh to select solar, wind power investors via tender
Vietnam’s central coastal province of Binh Dinh has allocated land plots for 22 projects, including eight for solar, wind, and geothermal power development, that will seek investors via tender.
Energy - Sun, May 11, 2025 | 11:39 am GMT+7
Vietnam's Party chief holds talks with Russian President Putin, agreeing on major orientations for bilateral ties
Vietnam's Party chief To Lam held talks with Russian President Vladimir Putin at the Kremlin Palace in Moscow on Saturday (local time), within the framework of his official visit to Russia.
Politics - Sun, May 11, 2025 | 8:20 am GMT+7
Policy support for private enterprises poised to drive Vietnam’s stock market
Amid global uncertainties and complex geopolitical shifts, financial experts believe that Vietnam’s new Resolution 68 on private sector development, signed by the Politburo on May 4, could become a significant catalyst for the domestic stock market.
Economy - Sun, May 11, 2025 | 8:00 am GMT+7
Malaysia develops data centers to become technology nation
The data center sector can be a catalyst for Malaysia to become a technology nation, said Deputy Minister of Investment, Trade and Industry Liew Chin Tong.
Southeast Asia - Sat, May 10, 2025 | 11:03 pm GMT+7
Vietnam's V-GREEN signs $300 mln MoU with partners for EV charging ports in Indonesia
V-GREEN, the global electric vehicle (EV) charging station arm of Vietnamese conglomerate Vingroup, on Friday announced the signing of an MoU with four strategic partners to deploy 63,000 VinFast EV charging ports across Indonesia by the end of 2025.
Southeast Asia - Sat, May 10, 2025 | 11:00 pm GMT+7
Northern Vietnam province Bac Ninh records two-fold rise in 4-month registered FDI
Bac Ninh province attracted more than $1.91 billion in registered FDI capital during the first four months of the year, marking a 2.2-fold year-on-year increase, according to provincial official data.
Southeast Asia - Sat, May 10, 2025 | 10:55 pm GMT+7
