S Korea’s Daewoo eyes $381 mln urban residency project in northern Vietnam
A consortium led by the Vietnam arm of a South Korean conglomerate is the sole applicant for developing a VND9.68 trillion ($381.08 million) urban residential area in the northern province of Thai Binh.
The consortium comprises two of Daewoo E&C’s subsidiaries – D Daewoo E&C Vina and THT Development Company Ltd.; and two Vietnamese businesses – Gip Land Company Limited and Zup Invest., Ltd., according to the provincial Department of Planning and Investment.
The Kien Giang new urban residential area will cover 96.4 hectares in Tran Lam, Quang Trung and Ky Ba wards as well as Vu Chinh and Vu Phuc communes in Thai Binh town.

An illustration of the Kien Giang new urban residential area planned in Thai Binh province, northern Vietnam. Photo courtesy of Thai Binh Department of Construction.
Of the total project cost, nearly VND9.27 trillion ($364.67 million) will be earmarked for construction, while the remaining VND417 million ($16.41 million) will be allocated for compensation and resettlement.
The project, designed to accommodate 18,626 residents, will include 858 detached houses, 544 villas, five 15-floor apartment blocks; a 15-floor social housing site, and some technical and services portfolios. Construction is set to take eight years.
In June 1991, Daewoo E&C became the first South Korean construction company to open a representative office in Vietnam. Its subsidiary, Daewoo E&C Vina, founded in 2017, had a chartered capital of $1 million as of March 2023.
It has joined many projects in Vietnam, notably the Daewoo hotel-Daeha serviced apartment complex and the Starlake new urban area project in Hanoi.
THT Development Company Ltd, set up in 2011, had a chartered capital of VND4.56 trillion ($179.64 million) as of March 2023.
Gip Land Company Limited is known as a co-founder of the Green I-Park, which developed the Lien Ha Thai Industrial Park in Thai Binh province. The IP has been attracting investments from South Korean firms like soju maker HiteJinro.
On Tuesday, Vietnamese Deputy Prime Minister Tran Luu Quang received a mission of South Korean construction and urban development businesses led by Jung Won-ju, who is chairman of the Daewoo E&C Group as well as the Korea Housing Builders’ Association.
At the meeting, the Daewoo executive asked for continued assistance from Vietnamese authorities in developing the urban area project in Thai Binh province.
Jung said South Korean Minister of Land, Infrastructure and Transport Noh Hyeong-ouk will visit Vietnam next week to promote housing development cooperation between the two countries.
- Read More
Vietnam sees renewed output expansion, improved business confidence in May: S&P Global
May saw a more stable picture in terms of U.S. tariff policies than April, helping lead to a renewed expansion in output and improved business confidence, says Andrew Harker, economics director at S&P Global Market Intelligence.
Economy - Mon, June 2, 2025 | 9:18 am GMT+7
Vietnam considers developing 2 inter-regional renewable energy service and industry hubs
The Ministry of Industry and Trade (MoIT) has proposed building two inter-regional renewable energy service and industry hubs in the country.
Economy - Mon, June 2, 2025 | 8:00 am GMT+7
Investors advised to take profits from stocks having risen sharply
Investors should maintain a balanced stock allocation in their portfolios and consider buying opportunities if the VN-Index retreats to the 1,300-1,320 point range, say market experts.
Finance - Sun, June 1, 2025 | 8:10 pm GMT+7
Shares of Vietnam's leading jewelry maker PNJ jump over 30% ahead of gold inspection report
Shares of Phu Nhuan Jewelry JSC (PNJ), a leading jewelry producer in Vietnam, rallied sharply ahead of the central bank’s Friday release of its gold market inspection findings.
Companies - Sun, June 1, 2025 | 1:14 pm GMT+7
Vietnamese firm takes over 40-year-old Pierre Cardin shoe chain in Thailand
Emall Vietnam, which owns a network of 100 high-end business shoe stores under the Pierre Cardin and Oscar brands in Vietnam, has taken over the entire Pierre Cardin shoe system in Thailand.
Companies - Sun, June 1, 2025 | 10:29 am GMT+7
Southern Vietnam province Ba Ria-Vung Tau okays 53 projects
Ba Ria-Vung Tau authorities on Friday granted in-principle approvals or investment registration certificates for 53 projects, including a green light for a $400 million investment capital hike of the $5.4 billion Long Son Petrochemicals Complex.
Industries - Sun, June 1, 2025 | 8:00 am GMT+7
Who to receive over 97 mln ESOP shares from Vietnam's leading developer Novaland
Novaland, a major real estate developer in Vietnam, will simultaneously implement plans to issue bonus shares and offer ESOP (employee stock ownership plan) shares, with a total issuance rate of 5%, equivalent to more than 97 million units.
Companies - Sat, May 31, 2025 | 11:09 pm GMT+7
Vietnam billionaire Pham Nhat Vuong to contribute 48 mln Vingroup shares to VinSpeed
Billionaire Pham Nhat Vuong has registered to transfer more than 48 million Vingroup (VIC) shares to the newly-established VinSpeed that registered to build the North-South high-speed railway project.
Companies - Sat, May 31, 2025 | 7:14 pm GMT+7
Two investors propose $65 mln wind power project in central Vietnam
A consortium of Quang Tri Renewable Energy Investment JSC and Win Power Holding Pte Ltd, and Nam Binh Wind Power JSC have submitted an application to implement a 48-megawatt wind power plant in the central province of Quang Tri.
Energy - Sat, May 31, 2025 | 3:10 pm GMT+7
Central Vietnam city seeks investors for $209 mln LNG, LPG terminal project
The central city of Danang is calling for investment in an LNG and LPG terminal project worth over VND5.43 trillion ($208.7 million).
Infrastructure - Sat, May 31, 2025 | 10:52 am GMT+7
Thai-backed food giant C.P. Vietnam rejects pork safety accusations
C.P. Vietnam, a subsidiary of Thailand’s food giant Charoen Pokphand Foods Public Company Limited (CPF), has dismissed social media allegations of selling diseased pork, calling them fabricated and false.
Companies - Sat, May 31, 2025 | 8:54 am GMT+7
Oman Investment Authority to expand investment fund in Vietnam
Prime Minister Pham Minh Chinh has proposed Oman to enlarge the Vietnam-Oman Investment Fund (VOI) to $1 billion to better cater for the Southeast Asian country's investment needs.
Economy - Fri, May 30, 2025 | 11:26 pm GMT+7
Japanese retailer Aeon to build 2-hectare mall in Vietnam’s Mekong Delta
Retail giant Aeon will develop a 2-hectare mall in the Mekong Delta province of Tien Giang, with an estimated investment of VND1.16 trillion ($44.6 million).
Industries - Fri, May 30, 2025 | 4:44 pm GMT+7
76% of Vietnamese survey respondents say trade uncertainty encourages them to explore new opportunities: HSBC
Vietnamese businesses have experienced exponentially higher cost increases than the global average and are expecting additional short-term costs due to trade uncertainty. But many survey respondents (76%) think trade uncertainty has encouraged their business to evolve and explore new opportunities, write HSBC analysts.
Consulting - Fri, May 30, 2025 | 2:41 pm GMT+7
Vietnamese firm lands first $1 mln order on Alibaba after 8-year struggle to export
After five months of operating a virtual storefront on Alibaba’s B2B e-commerce platform, Sukavina Co., Ltd., a Binh Duong province-based manufacturer of metal tables, chairs, and beds, secured its first international order, marking a significant milestone in the company’s eight-year journey to global markets.
Companies - Fri, May 30, 2025 | 2:37 pm GMT+7
AgriS partners with IFC: Optimizing environmental and social management system, accelerating net zero 2035 goal
TTC AgriS (Thanh Thanh Cong-Bien Hoa JSC or AgriS) and International Finance Corporation (IFC) - a member of the World Bank Group - has signed an MoU to strengthen sustainable development governance in alignment with global standards.
Companies - Fri, May 30, 2025 | 2:30 pm GMT+7