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Foreign investors seeking to develop a prized casino project on Phu Quoc island will have to play a long game if they are to succeed.
With domestic tours costing more than foreign trips and their country’s attractions not appealing enough to Vietnamese, many people opt for destinations like Thailand and Singapore.
Haier Group Corporation and Sanyo Electric yesterday signed a Memorandum of Understanding (MOU) setting out the terms regarding Haier’s intention to acquire Sanyo’s refrigerator, washing machine and other consumer electric appliancesbusiness in Japan, Indonesia, Malaysia, the Philippines and Vietnam.
Drilling Mud Corporation (DMC), a PetroVietnam member and the Dinh Vu Industrial Zone (IZ) authorities have inked a land lease contract for a petrochemical service supply project.
Vietnamese exports to the Japanese market have surged as Japanese demands have increase after the earthquake and tsunami disaster and many trade barriers have been reduced.
Vietnam needs a sustainable strategy that attracts foreign direct investment (FDI) while taking into account the quality of projects, ensuring their suitability for the country’s development plans, a senior official said.
Nine commercial lenders have failed to cut back credit to non-manufacturing sectors by June 30 and will be punished with higher reserve requirements, the State Bank of Vietnam said last week.
The managing board of Quang Ngai Industrial Zones on July 18 granted an investment license for the Rieker Vietnam Footwear Factory.
Turkish Airlines has increased the number of its services to HCMC to seven a week just a half year after the launch of its flights from the Thai capital of Bangkok to the southern economic hub of Vietnam.
The State Capital Investment Corporation on July 18 reported it had sold interests it represented in 520 enterprises during the five years since its establishment for a total of VND2.77 trillion ($134.5 million) – twice the book value of the companies.
The local gold price hit a new record high of VND39.42 million on Monday afternoon as the global gold price on Asian markets on Monday breached the level of US$1,600 a troy ounce.
Under pressure from members states, the European Union is likely to tighten regulations governing imports – to the detriment of Vietnamese exporters – trade experts said yesterday in Ha Noi.
