Vingroup starts building world-class expo center in Hanoi

By Quang Minh
Fri, August 30, 2024 | 3:52 pm GMT+7

Vietnamese conglomerate Vingroup has kick-started the construction of a much-awaited world-class exhibition fair center on the outskirts of Hanoi.

Prime Minister Pham Minh Chinh, Vingroup chairman Pham Nhat Vuong, and a host of government officials attended the groundbreaking ceremony on Friday.

Prime Minister Pham Minh Chinh (center) and Vingroup chairman Pham Nhat Vuong (left) attend the groundbreaking ceremony of the new Vietnam Exhibition Fair Center in Dong Anh district, Hanoi, August 30, 2024. Photo courtesy of the government's news portal.

Prime Minister Pham Minh Chinh (center) and Vingroup chairman Pham Nhat Vuong (left) attend the groundbreaking ceremony of the new Vietnam Exhibition Fair Center in Dong Anh district, Hanoi, August 30, 2024. Photo courtesy of the government's news portal.

The 90-hectare Vietnam Exhibition Fair Center will be built in Dong Anh district, an emerging urban center in the capital, as one of the largest facilities of its kind worldwide.

The new exhibition center, located close to Noi Bai International Airport and several minutes of drive from the inner city, is expected to be a venue for global trade events and exhibitions. It will replace the previous national exhibition center on Giang Vo street, Ba Dinh district.

Besides indoor premises, the center will feature outdoor spaces of up to 20.6 hectares. An ecosystem of ancillary facilities will include service areas, high-rise office buildings, a five-star hotel to be managed by Marriott, and parking areas.

 Government and Vingroup officials conduct the groundbreaking ceremony in Hanoi, August 30, 2024. Photo courtesy of the government's news portal.

Government and Vingroup officials conduct the groundbreaking ceremony in Hanoi, August 30, 2024. Photo courtesy of the government's news portal.

Speaking at the ceremony, Vingroup CEO Nguyen Viet Quang said the new exhibition center is expected to be of the same class as those in Dubai, Frankfurt, and Milan, and it will help domestic and foreign enterprises connect and promote trade.

Hanoi Chairman Tran Sy Thanh said the city has focused on improving urban and traffic infrastructure systems and facilitated procedures for the exhibition center project.

The mayor committed to supporting Vingroup in implementing the project to put it into operation as soon as possible. The local government will also accelerate the implementation of traffic works that link to the center.

Comments (0)
  • Read More
Vietnam's leading consumer finance firm F88 reverses losses, posts $3.6 mln H1 net profit

Vietnam's leading consumer finance firm F88 reverses losses, posts $3.6 mln H1 net profit

F88 Business JSC (F88), a top consumer finance company in Vietnam, posted a net profit of VND89.05 billion ($3.61 million) in H1/2024, or VND486 million ($19,700) a day on average.

Companies - Mon, September 9, 2024 | 4:15 pm GMT+7

Vietnamese EV maker VinFast halves losses in H1

Vietnamese EV maker VinFast halves losses in H1

VinFast, the electric vehicle arm of Vietnam's largest private conglomerate Vingroup, recorded post-tax losses of VND9,068.3 billion ($367 million) in H1/2024, half the loss it posted in the same period last year.

Companies - Mon, September 9, 2024 | 3:35 pm GMT+7

Gaming silver lining in dark financial cloud for Vietnam’s first tech unicorn VNG

Gaming silver lining in dark financial cloud for Vietnam’s first tech unicorn VNG

VNG Corporation, Vietnam’s first tech unicorn, has suffered continuous losses in recent years with revenues from its online gaming segment not enough to offset losses from other business areas.

Companies - Mon, September 9, 2024 | 2:59 pm GMT+7

Ten vehicles fall into river, 13 people missing as bridge collapses in northern Vietnam

Ten vehicles fall into river, 13 people missing as bridge collapses in northern Vietnam

At least 10 vehicles and two motorbikes plunged into the Red River when Phong Chau bridge in the northern province of Phu Tho collapsed on Monday morning, amid serious downpours triggered by super typhoon Yagi.

Society - Mon, September 9, 2024 | 1:30 pm GMT+7

Thailand’s Super Energy records $57.4 mln revenue from Vietnam in H1

Thailand’s Super Energy records $57.4 mln revenue from Vietnam in H1

Thailand’s Super Energy Corporation recorded a revenue of THB1,936 million ($57.4 million) from its renewable energy activities in Vietnam in the first half of this year, according to the firm’s report.

Companies - Mon, September 9, 2024 | 10:49 am GMT+7

Sales of Samsung's 4 major Vietnam plants up in H1, but profits fall

Sales of Samsung's 4 major Vietnam plants up in H1, but profits fall

Four Vietnamese subsidiaries of South Korean giant Samsung Electronics reported combined revenues of KRW42,017.3 billion ($31.38 billion) in the first half of 2024, up 8.6% year-on-year, but post-tax profits decreased 2% to KRW2,939.7 billion ($2.2 billion).

Companies - Mon, September 9, 2024 | 8:07 am GMT+7

Super typhoon Yagi, floods cause at least 21 deaths in northern Vietnam

Super typhoon Yagi, floods cause at least 21 deaths in northern Vietnam

Yagi that made landfall in northern Vietnam on Saturday and floods after the super typhoon have claimed at least 21 lives and left nearly 230 others injured.

Society - Sun, September 8, 2024 | 9:35 pm GMT+7

Vietnam real estate sector may start revival in H2, continue through 2026: broker

Vietnam real estate sector may start revival in H2, continue through 2026: broker

Vietnam’s real estate market could start recovering in the second half of this year and continue to revive until 2026, driven by new real estate laws and lower mortgage rates, says a report by Shinhan Securities Vietnam.

Real Estate - Sun, September 8, 2024 | 7:40 pm GMT+7

Vietnam’s 2024 credit growth target of 15% attainable: official

Vietnam’s 2024 credit growth target of 15% attainable: official

The State Bank of Vietnam (SBV), the country's central bank, is confident in achieving the credit growth target of 15% this year despite a sluggish start, SBV Deputy Governor Dao Minh Tu said, citing a more optimistic economic outlook.

Banking - Sun, September 8, 2024 | 4:20 pm GMT+7

Singapore firm to deploy $80 mln freeze-dried instant coffee project in central Vietnam

Singapore firm to deploy $80 mln freeze-dried instant coffee project in central Vietnam

Future Enterprises Pte. Ltd, a subsidiary of Singapore-based Food Empire Holdings Group, has been licensed to build a freeze-dried instant coffee plant with an annual capacity of 5,400 tons in the central province of Binh Dinh.

Industries - Sun, September 8, 2024 | 1:33 pm GMT+7

Vietnam art market dominated by Vietnamese buyers a collector’s dream come true

Vietnam art market dominated by Vietnamese buyers a collector’s dream come true

Ten years after I wrote an article titled "Playing and buying paintings," the Vietnamese art market has evolved significantly.

Travel - Sun, September 8, 2024 | 11:04 am GMT+7

Vietnam outbound investment shrinks 64.6% to $147 mln in Jan-Aug

Vietnam outbound investment shrinks 64.6% to $147 mln in Jan-Aug

Outbound investment by Vietnamese companies dropped 64.6% year-on-year to $147.3 million in the first eight months of this year, according to government data.

Industries - Sun, September 8, 2024 | 9:58 am GMT+7

Super typhoon Yagi kills at least 8 in northern Vietnam

Super typhoon Yagi kills at least 8 in northern Vietnam

Super typhoon Yagi has claimed at least eight lives and left nearly 200 others injured after making landfall in northern Vietnam on Saturday.

Society - Sun, September 8, 2024 | 9:47 am GMT+7

Vietnamese SMEs can make products with global appeal: Amazon exec

Vietnamese SMEs can make products with global appeal: Amazon exec

Made-in-Vietnam products that appeal to global consumers can come from small and medium-sized enterprises (SMEs), not necessarily large companies, says Natalie Thuan Ngo, head of business development, Amazon Global Selling Vietnam.

Economy - Sun, September 8, 2024 | 7:55 am GMT+7

Super typhoon Yagi devastates Hanoi

Super typhoon Yagi devastates Hanoi

Typhoon Yagi made landfall in Hanoi on Saturday evening, bringing powerful winds of 89-102 km per hour and heavy rainfall. The storm caused widespread flooding and downed numerous trees.

Southeast Asia - Sat, September 7, 2024 | 10:17 pm GMT+7

Vietnam finance ministry urged to seek $4 bln of bonds for strategic infrastructure development

Vietnam finance ministry urged to seek $4 bln of bonds for strategic infrastructure development

The Vietnamese Ministry of Finance has been requested to mobilize another VND100 trillion ($4.06 billion) worth of bonds for strategic infrastructure development.

Economy - Sat, September 7, 2024 | 7:14 pm GMT+7