Ho Chi Minh City vows to stabilise prices of goods during the Tet holidays - Illustrative image (Source: VNA) HCM City (VNA) – Price hikes in key staples will not happen in Ho Chi Minh City during the lunar New Year (Tet) holidays, Vice Chairman of the municipal People’s Committee Le Thanh Liem has affirmed. At a working session with Deputy Minister of Industry and Trade Do Thang Hai on December 24, Liem said that the city will coordinate with the ministry to maintain price stability during this festival and in the first months of 2019, thus helping ensure social welfare. Hai stated that over the past months, Ho Chi Minh City has well ensured the stability in prices of essential goods. Therefore, the city should continue keeping a close watch on supply-demand developments, inform the upper level of price management, intensify the fight against smuggling and trade frauds, and ensure food safety and hygiene. According to Deputy Director of the municipal Department of … [Read more...] about Ho Chi Minh City commits no price hikes in key staples during Tet
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90-year old market in Ho Chi Minh City reopens
The 90-year-old Binh Tay market, one of the beautiful architecture works in HCM City, re-opened on November 15 after nearly two years of closure for restoration. The reopening of the market will not only boost trade in the industrial hub but also attract tourists to this unique cultural and historical relic site. Built in 1928, Binh Tay market was the largest and the most modern market in southern Vietnam at that time. Over the past 90 years, Binh Tay served as a wholesale market, sending commodities to all localities in Vietnam and to Cambodia and many other countries. Binh Tay market is a new tourism product as it now serves as a venue for trading, sightseeing and experiencing local culture.-VNA … [Read more...] about 90-year old market in Ho Chi Minh City reopens
FDI into real estate through the roof in Ho Chi Minh City
Ho Chi Minh City stays in the lead in foreign direct investment (FDI) attraction into real estate with the total of $5.7 billion in the first nine months of the year for newly registered and expanded projects, an increase of 50 per cent compared to the same period last year. According to a report delivered at a meeting on the city’s socioeconomic performance held on October 1, the wholesale and retail sector received the most FDI in the city, comprising of 27.7 per cent of the total registered capital. The manufacturing and processing sector came second with 22.8 per cent, followed by real estate (20.2 per cent) and science and technology (13.4 per cent). Ho Chi Minh City recorded a 50 per cent increase in FDI into real estate during the first nine months Su Ngoc Anh, director of the Ho Chi Minh City Planning and Investment Department, said that there were 2,200 cases of capital contribution under mergers and acquisitions (M&A) with a total combined investment … [Read more...] about FDI into real estate through the roof in Ho Chi Minh City
HCM City posts continued FDI expansion in five months
Producing electronic components at the Japanese-invested Nidec Sankyo Vietnam Co. Ltd in the Saigon Hi-tech Park (Photo: VNA) Hanoi (VNA) – Ho Chi Minh City recorded expanding foreign direct investment (FDI) in the first five months of 2018 thanks to effective trade and investment promotion activities, said the municipal Department of Planning and Investment. During the period, 330 projects worth 393.92 million USD received investment registration certificates, up 16.6 percent in the project number and 14.7 percent in investment capital from the same period last year. Processing and manufacturing attracted the biggest foreign investment, 127.79 million USD, accounting for 32.4 percent of total capital and rising by 4.2 percent year on year. Property business ranked second with 121.66 million USD, making up 31 percent of the total and rising threefold. About 78.47 million USD was poured into the wholesale, retail and repair of automobiles, motors, motorcycles and … [Read more...] about HCM City posts continued FDI expansion in five months
HCM City targets 9 percent growth in retail, consumer services
Illustrative image (Source: VNA) HCM City (VNA) – The southern economic hub Ho Chi Minh City has set the target of achieving 6.82 – 9.06 percent growth in the total retail and consumer services from 2026-2030. It is set under a master plan on trade sector development until 2025 with orientations to 2030 recently issued by the municipal People’s Committee. Accordingly, services sector will contribute to at least 58 percent of the gross regional development product until 2020. The total retail and consumer services will expand by 8.55 – 11.53 percent annually while retail via shopping malls and supermarkets will reach at least 40 percent of the total. From 2021-2025, the respective figures will 10.89 – 14.02 percent and at least 50 percent. In order to achieve the above targets, the city plans to build and upgrade parking lots and warehouses around markets, and ensure food hygiene and safety with clear origin to improve competitiveness. … [Read more...] about HCM City targets 9 percent growth in retail, consumer services
Long An increases supply of farm produce to Ho Chi Minh City
Illustrative image (Source: VNA) Long An (VNA) – The southern province of Long An has increased supply of farm produce to Ho Chi Minh City under the 2016-2020 socio-economic cooperation agreement with the city, said Chairman of the municipal People’s Committee Tran Van Can. As home to 32 cooperatives and VietGAP firms with a capacity of nearly 21,000 tonnes, Long An will provide nearly 500,000 tonnes of vegetables for Ho Chi Minh City each day, nearly 225,000 pigs and 133,000 cows and a variety of specialty rice each year. The province also supplies roughly 11,000 tonnes of fresh shrimps in brackish water and other farm produce such as dragon fruits, lemons and pineapples to Binh Dien wholesale market and local restaurants. Long An asked for the city’s support for its agricultural products to enter its stable distribution channel, especially fruits and vegetables, hold training courses for managerial staff, cooperatives and working groups on high-tech … [Read more...] about Long An increases supply of farm produce to Ho Chi Minh City
Book streets learn from HCM City
Open space in HCM City’s Book Street lures people of all ages.(Source: VNA) Hanoi (VNA) - There is a huge difference between the milling crowds in Ho Chi Minh City’s Book Street and the lack of people in the Hanoi equivalent in a short street simply called December 19. HCM City has just commemorated the second anniversary of its Book Street in Nguyen Van Binh Street by selling a total of 1.2 million books for a total of 67 million VND in two years. More than four million people flocked to the locale in that period. Statistics from publishers with stores in the street say that in 2016 about 500,000 books were sold for the whole year. Last year that jumped to 746,000 books. Quach Thu Nguyet, director of MTV Street Book Company, said she loved the location. “Nguyen Van Binh is a short street with few vehicles and is well away from residential areas. It is right in the centre of the city and next to architecture heritage,” she said. “The … [Read more...] about Book streets learn from HCM City
Danger lurks in every cup of milk tea in Vietnam’s major cities
A massive amount of milk tea in Vietnam’s major cities is produced using fake ingredients, with health specialists agreeing that these unidentified additives only contribute to other side-effects of long-term milk tea consumption, such as obesity, kidney failure, and even infertility. The milk tea craze is sweeping the country, leaving locals of all age groups and professional backgrounds flocking in droves to the growing number of vendors popping up throughout Vietnam to satisfy its cravings for the sugary drink. Milk tea has distinct varieties spread throughout various Asian cultures, but in Vietnam, the sweet drink typically refers to the famed Hong Kong bubble, or boba, tea – a mixture of a juice and chewy pearls. Unfortunately, businesses trying to make a fast buck on the fad are resorting to ingredients of unknown quality or origin to boost their profits. Hang Buom Street in Hanoi’s Old Quarter has long been a wholesale hub for milk tea ingredients. The vast … [Read more...] about Danger lurks in every cup of milk tea in Vietnam’s major cities
Young follower of Uncle Ho’s example gains success from high will
Bui Minh Thang beside his mushrooms (Photo: SGGP)To gain this success, he has undergone diverse hardships, even big debt. “After each failure, by remembering Uncle Ho’s teachings for young people which highlights that will decides success, I gain determination for action, and finally I succeed,” he said. Born in a family whose members produce mushrooms, after his high school graduation in 2009, Thang decided to start-up by planting mushrooms. He wondered how to expand his family’s mushroom area, to increase the productivity and quality of mushrooms so that it can be competitive with imported mushrooms, and how to attract customers. After days of thought, he answered his questions by applying high technology into mushroom production. His carefully made plans in building mushroom production using modern technology were carried out from a loan worth VND300 million borrowed from his relatives and the fund supporting start-ups of the Cu Chi district Ho Chi Minh city … [Read more...] about Young follower of Uncle Ho’s example gains success from high will
Ho Chi Minh City strives to become even more attractive to tourists
In addition to annual events such as the Ao Dai (Vietnamese traditional long dress) festival, lion and dragon dance festival, Southern fruit festival, cuisine festival of the Southern land, and the international travel expo, in 2017, the city’s hospitality sector also hosted activities to promote the city’s image at international travel events. A database for tourism promotion and a system to provide tourist information for tour guides and visitors in multiple languages have been completed, making it easier for tourists to explore the city’s tourist attractions. The municipal People’s Committee has closely co-ordinated with the city’s Tourism Department to diversify and design new tourist products, including the launch of the river bus along Nhieu Loc - Thi Nghe and Tau Hu – Ben Nghe canals, ecological tours, agri-tourism and leisure travel. The most-visited destinations by international tourists, such as Bui Vien and Nguyen Hue pedestrian streets in … [Read more...] about Ho Chi Minh City strives to become even more attractive to tourists