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Friday's Tale Chaotic condotel business By Son Nguyen Thursday,  Dec 5, 2019,20:42 (GMT+7) Chaotic condotel businessBy Son Nguyen All are in a mess – for State agencies, localities, businesses, and property buyers – after the owner of the property project Cocobay in Danang City announced that it could no longer live up to its promise of paying an annuity of 12% for buyers of its condotel units. The shockwave is felt, not only because of the extent of imminent damages caused by the project’s failure as Cocobay is probably the biggest condotel project in the country. Rather, it is because the collapse of this business model at Cocobay is seen having a domino effect on a business sector that has shot to “stardom” lately. Confusion is also seen as authorities rush to handle projects that are now moving to brinksmanship in the absence of a legal framework. The collapse, say experts, is just a matter of … [Read more...] about Chaotic condotel business

Participants in the 9th ASEAN Maritime Forum pose for a photo (Photo: VNA) Da Nang (VNA) - The 9th ASEAN Maritime Forum (AMF-9) opened in the central city of Da Nang on December 5, seeing the participation of more than 50 delegates from the 10 ASEAN countries and the ASEAN Secretariat. In his remarks at the opening ceremony, Vu Ho, Director of the ASEAN Department under the Vietnamese Ministry of Foreign Affairs, affirmed that maritime security cooperation is always a high priority in ASEAN cooperation and in the partnership between ASEAN and its partners. He said currently, more than 10 ASEAN agencies are engaging in marine cooperation activities. The contents of cooperation range from ensuring maritime security and safety, conducting search and rescue and anti-piracy activities, and combating illegal fishing to promoting environmental protection and dealing with plastic waste. Given the current complicated situation at sea, the AMF this time needs to review cooperation … [Read more...] about Ninth ASEAN Maritime Forum opens in Da Nang

Politburo member Tran Quoc Vuong (R), permanent member of the Communist Party of Vietnam (CPV) Central Committee’s Secretariat, and visiting Honorary President of the Cambodian People’s Party and President of the Cambodian National Assembly Samdech Heng Samrin (Photo: VNA) Hanoi (VNA) – Vietnam always attaches importance to and gives top priority to the development of good neighbourliness; traditional friendship; and comprehensive, sustainable, and long-term cooperation with Cambodia, Politburo member Tran Quoc Vuong has said. Vuong, who is also the permanent member of the Communist Party of Vietnam (CPV) Central Committee’s Secretariat, made the affirmation at a reception for visiting Honorary President of the Cambodian People’s Party and President of the Cambodian National Assembly Samdech Heng Samrin in Hanoi on May 28. He congratulated Cambodia on its remarkable achievements in the recent past, including the results of the … [Read more...] about Vietnam prioritises developing friendship, cooperation with Cambodia

Illustrative image (Source: VNA)   Hanoi (VNA) - The Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), scheduled to be inked in Chile on March 8 (local time), is expected to be a new driving force for the development of the Asia-Pacific region. One year ago, at a high-level dialogue hosted by Chile in March 2017, 11 countries, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam, discussed initial steps to “save” the ambitious Trans-Pacific Agreement (TPP) after the US’s withdrawal. They agreed to maintain the deal and renamed it CPTPP. On the context that trade protectionism is arising in many places around the world and causing negative impacts on the global economic growth, the birth of the CPTPP will make a great stride connecting economies on the Pacific Ocean rim. Chilean Foreign Minister Heraldo Munoz said that the deal would create favourable conditions to generate more jobs, … [Read more...] about CPTPP – driving force connecting Asia-Pacific

HORASIS Asia is an effective way to attract investments into Binh Duong According to Mai Hung Dung, Standing Deputy Chairman of Binh Duong People’s Committee, more and more global investors are arriving to scope out funding opportunities. “Binh Duong will create favourable conditions for foreign investors to collaborate with domestic investors to implement a range of large scale projects in the province,” Dung said. “Many members of the HORASIS network come to learn more about Vietnam generally and Binh Duong in particular. Big events like HORASIS are a new way of attracting effective investment into the province.” At a dialogue on the theme of investment opportunities in Binh Duong, Dung fielded many questions from foreign investors regarding projects offered by the province. According to Binh Duong Department for Planning and Investment, the province is now calling for investment into many large-scale developments. The establishment of the World Trade … [Read more...] about Binh Duong bumps up foreign funding appeal