Billion dollar project

Illustrative image (Source: VNA) Hanoi (VNA) - Steelmaker Hoa Phat Group targets revenue of 55 trillion VND (around 2.42 billion USD) and after-tax profit of 8.05 trillion VND (354.6 million USD) in 2018. The information was released at the group’s annual shareholder meeting held recently in Hanoi with the participation of 368 shareholders, who together hold 77 percent of ordinary shares. Hoa Phat’s management board chairman Tran Dinh Long said the group sees 2018 as a crucial year. The firm would take drastic measures to ensure the progress of the Hoa Phat Dung Quat steel and iron production complex and make it the priority target for this year, Long said. He added that the management board had carefully considered the targets before submitting them to the meeting. The group would implement many big projects this year in their main steel business. In addition, it would be alert for changes in the material market. In other sectors such as agriculture, … [Read more...] about Steelmaker Hoa Phat Group targets 2.42 billion USD in revenue

Investment US$80 billion green building investment opportunities available in Vietnam By Trang Nguyen Saturday,  Dec 7, 2019,09:53 (GMT+7) US$80 billion green building investment opportunities available in Vietnam By Trang Nguyen Apartment buildings surrounded by green plants inside the Times City urban area in Hanoi - PHOTO: VNA HANOI – Some 65.7 million more people will live in urban areas in Vietnam by 2050, and this represents investment opportunities worth up to US$80 billion for the nation’s green construction sector over the next 10 years, according to a new report by IFC, a member of the World Bank Group.  IFC’s new report titled “Green Buildings: A finance and policy blueprint for emerging markets” has highlighted how investors can tap into the great potential of green buildings in the Asia-Pacific region, which will house half the world’s urban population by 2030. IFC … [Read more...] about US$80 billion green building investment opportunities available in Vietnam

  The Empire Group could not pay annuity for its CocoBay condotel buyers since next year. Photo vneconomy.vn HÀ NỘI – Đà Nẵng authorities need to carefully review the offer to convert the Cocobay Đà Nẵng condotel project into apartments as it could harm the city’s economic development plan, experts have said. The project developer, Thành Đô Investment Development and Construction JSC (Empire Group), had guaranteed to pay 12 per cent profit on the value of investors' condotel purchases from January 1, 2020, but has since announced it cannot fulfil this commitment due to financial woes. Condotels are often sold to investors and then leased back to the developer or an operating firm to manage rentals to holidaymakers, which is where the 12 per cent profit was supposed to come from. A lack of regulations on condotel development and ownership has also harmed the project. The … [Read more...] about Tough decisions for Da Nang over Cocobay project

Illustrative image (Photo: VNA)   Hanoi (VNA) – Permanent Deputy Prime Minister Truong Hoa Binh delivered a keynote speech at a high-level session of the 10th Regional Conference of the Anti-Corruption Initiative for Asia-Pacific, themed “Preventing and Combating Corruption in Infrastructure Projects in Asia-Pacific”, in Hanoi on December 6. In his speech, Binh said Vietnam considers infrastructure building as one of the three strategic breakthroughs to turn itself into a modern-oriented industrialised nation. To such end, he said Vietnam will focus on four tasks, including fine-tuning laws and policies, effectively using resources for infrastructure development, especially in land, construction, investment, construction, investment, bidding; pooling non-State resources for infrastructure development, especially in the form of public-private partnership; prioritising investment in national defence-security or projects that fail to call for investment; and … [Read more...] about Deputy PM addresses conference on anti-corruption initiative

HCM CITY — Last year, H, a HCM City resident, transferred a total of VNĐ10 billion (US$437,800) to a man she’d met on a social media website. The man, Jame, introduced himself as an American marine engineer based in the US. After getting to know each other, Jame promised he would marry H. and help her immigrate to the US. In March 2016, Jame told H. he was going to Malaysia to invest in a $4 million oil extraction project. He asked to borrow some money from H for five months, promising that he would give her $500,000 and come to Việt Nam to marry her after finishing the project. He never did. In July 2016, H. filed a complaint with the city police. The number of Vietnamese women tricked by online scammers, starting with ‘love affairs’ on social media, has tended to increase in recent years, especially in HCM City, according to the Crime Police Department under the Ministry of Public Security. Ninety-eight per cent of the victims hold college … [Read more...] about Scams break women’s hearts, bank accounts