Viet Nam News HCM CITY — The vice chairman of HCM City People’s Committee has urged agencies to follow guidance from the city’s Party Committee in building the country’s largest public square in the Thủ Thiêm new urban area. Trần Vĩnh Tuyến said that the Standing Committee of the City Party Committee asked the People’s Committee to submit a feasibility report on the square. He said the report must include the rationale for naming the central square after President Hồ Chí Minh, as well as the reasons for the proposed construction of a stilt house and fish pond similar to those used by the late president in Hà Nội. The Standing Committee said the feasibility report should be promptly submitted to the Ministry of Culture, Sports and Tourism and the Politburo by the end of the month, and then to the city People’s Council by the end of this year. After receiving a conclusion from the Politburo, … [Read more...] about City urged to follow party committee’s guidance on building Thủ Thiêm central square
Metre square
90-year-old market in HCMC ready to reopen
The nearly 90-year-old Binh Tay Market in HCM City will be reopened in November after being repaired and upgraded for two years. A Chinese businessman built Binh Tay Market in 1928 and donated it to the city authorities. The market is built according to modern Western techniques but with the style of architecture in East Asia. It is one of the most beautiful markets in the city. But time badly deteriorated the structure, exposing the steel beams and damaging the walls. The roof also leaked into the kiosks of the traders. It was finally closed in late 2016 and renovation and upgrading works started in December 2017. It cost a total VND104bn which is taken from the kiosk rental fees from the traders in the past 10 years. The 11,000 square-metre-square roofs, staircases, barriers and the floors have been repaired. New toilets and rooms for generators were built. The market is also upgraded with new wifi lines, monitoring system and fire safety system. During this … [Read more...] about 90-year-old market in HCMC ready to reopen
Novaland launches luxury apartments at $6,000 per square metre
Novaland launches The Grand Manhattan apartment project in HCM City’s District 1 at prices starting from US$6,000 per square metre. VNS Photo Viet Nam News HCM CITY – Giant property developer Novaland Group has launched a new apartment project, The Grand Manhattan, in the heart of HCM City. Prices of units in the project, which will come up at the corner of Cô Giang and Cô Bắc streets in District 1, will start at US$6,000 per square metre. Novaland said the condos, to be handed over in the last quarter of 2021, would have two or three bedrooms and smart-home technologies. Besides the usual amenities like a swimming pool and BBQ area, it will also have a park and other attractions on 4,200sq.m of its total area of 14,000sq.m. At the launch, Novaland offered a number of promotions to buyers like free parking space, fully equipped kitchens and a four-day stay at the Azerai Cần Thơ resort. - VNS … [Read more...] about Novaland launches luxury apartments at $6,000 per square metre
Vincom opens three new malls in Thanh Hoa, Lam Dong and Long An
Vincom Retail Joint-Stock Company on April 28 held an opening ceremony to celebrate the opening of three Vincom Plaza shopping centres in three provinces. These are the first Vincom shopping centres to open in the central province of Thanh Hoa, and the southern provinces of Lam Dong and Long An. The three openings bring the total number of retail centres of Vincom nationwide to 49, continuing to confirm the position of the largest retail property management company in Viet Nam, with presence in 26 provinces. The panorama view of Vincom Plaza Thanh Hoa Shopping Centre is highlighted with modern architecture. — Photo Vincom Vincom Plaza Bao Loc in Lam Dong, Vincom Plaza in Thanh Hoa and Vincom Plaza Tan An in Long An display the full range of Vincom's national standards on architectural style, shopping spaces and amusement parks, promising to bring new experiences to people in these localities. Vincom Plaza Thanh Hoa, located in a complex of Vinpearl five-star hotels and … [Read more...] about Vincom opens three new malls in Thanh Hoa, Lam Dong and Long An
Hanoi builds additional 430,000 square metres of social housing
A corner of social housing project in Gia Lam district (Photo: HNMO)According to the department, in 2017, some 11 million square metres of housing were constructed, with 60,000 square metres of social housing, 164,000 square metres of resettlement housing, over 2.5 million square metres of commercial housing, and the rest built by residents. The construction leads to an average area of 25.6 square metres per capita, and an expected area of 26.3 square metres per capital by 2020. At present, the city is developing commercial housing for resettlement, as well as concentrated social housing in Dong Anh, Gia Lam, Thanh Tri and Bac Tu Liem districts./. Compiled by BTA … [Read more...] about Hanoi builds additional 430,000 square metres of social housing
BUSINESS IN BRIEF 11/12
Investments in drugstore chains turn activeFPT Retail has recently confirmed its investment in the Long Chau drugstore chain, thus lengthening the list of tech retailers that are venturing into drugstore business.The Gioi Di Dong and Digiworld that have long been known as retailers of tech products have invested into drugstore chains as well.At a meeting on business operations at the Hochiminh Stock Exchange earlier this month, FPT Retail general director Nguyen Bach Diep said the company started injecting capital into Long Chau drugstores early this year on a pilot basis and would expand its investment in this sector next year.Revenue from drugstore business operations would be included in FPT Retail’s revenue as from 2019, Diep added.News about FPT Retail’s investment in the Long Chau drugstore chain broke early this year. But when reached by the media, the company said negotiations were ongoing and that there was no official information.Some of the well-known drugstore … [Read more...] about BUSINESS IN BRIEF 11/12
Property inventories drop by 17%
This represented a drop by nearly 80% since the end of 2013 and more than 17% over the end of last year.Inventories in housing land accounted for nearly 50% of the stockpile value with more than 3 million square metres worth VND12.3 trillion, followed by inventories of low-rise houses with 3,082 units worth around VND6.9 trillion and apartments with 2,862 units worth VND4.1 trillion.Commercial land inventories totaled more than 580,400 square metres worth VND2.34 trillion.Hanoi had an inventory of VND5.3 trillion, dropping by 68.8% against the first quarter of 2013. The inventory value in Ho Chi Minh City was estimated at VND4.7 trillion as of November, dropping by 83%. … [Read more...] about Property inventories drop by 17%
Property inventories drop by 17 percent
Unfinished villas in Hanoi.(Source: VNA)Hanoi (VNA) - Real estate inventories wereestimated at 25.7 trillion VND (1.13 billion USD) at the end of November,according to the Housing and Real Estate Market Management Department under theMinistry of Construction.This represented a drop by nearly 80 percent since the endof 2013 and more than 17 percent over the end of last year.Inventories in housing land accounted for nearly 50 percentof the stockpile value with more than 3 million square metres worth 12.3trillion VND, followed by inventories of low-rise houses with 3,082 units wortharound 6.9 trillion VND and apartments with 2,862 units worth 4.1 trillion VND.Commercial land inventories totaled more than 580,400 squaremetres worth 2.34 trillion VND.Hanoi had an inventory of 5.3 trillion VND, dropping by 68.8percent against the first quarter of 2013. The inventory value in Ho Chi MinhCity was estimated at 4.7 trillion VND as of November, dropping by 83 percent.-VNA … [Read more...] about Property inventories drop by 17 percent
BUSINESS IN BRIEF 10/12
JETRO to host Invest Japan seminar in Ho Chi Minh CityJapan External Trade Organisation Ho Chi Minh City (JETRO) and the Ministry of Planning and Investment's Foreign Investment Agency will co-organise the Invest Japan seminar in Ho Chi Minh City on December 19.The seminar aims to introduce the strengths of the Japanese market, the advantages of establishing a branch in Japan, as well as JETRO’s free support activities for enterprises in Vietnam looking to invest or establish a business in Japan.The relationship between Japan and Vietnam has improved significantly over the past years. This January, Japanese Prime Minister Shinzo Abe visited Vietnam. In March, the Emperor and his Empress visited Vietnam for the first time, and in June, Vietnamese Prime Minister Nguyen Xuan Phuc visited Japan for the second time after taking office.In terms of the economy, the number of Japanese enterprises investing in Vietnam continues to increase, while trade relations are on the rise. A growing … [Read more...] about BUSINESS IN BRIEF 10/12
Fungus farm keeps ex-soldier busy
Linhzhi is an expensive fungus. In Vietnam it is mostly grown on farms or in households. (Photo baomoi.com) Kon Tum (VNA) - Forty-three-year-old Le Ngoc Khanh from Dak Hrinh commune in the Central Highlands province of Kon Tum quit his stable job as a teacher at a vocational school and started growing mushrooms in 2014. Being a novice in the business, Khanh enrolled in a training course to learn how to overcome the challenges. He now owns a 6,000-square-metre mushroom farm that yields tonnes each year. In 1998, after serving in the army, Khanh married and studied at the construction college in Hanoi. After finishing his study, he returned to his hometown and worked as teacher in Dak Ha district and then a vocational training school. “The hard training in the army helped me to acquire independence, self-discipline and become more tolerant of the challenges in life,” said Khanh. In 2010, he visited some households expertly growing lingzhi … [Read more...] about Fungus farm keeps ex-soldier busy