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The central port city of Da Nang has begun work on an infrastructure project covering 3,500ha that will extend the urban area to the city’s rural fringe.
All commercial banks have slashed their deposit interest rates after the State Bank of Vietnam slashed the basic interest rate to 12%, thus causing the capital mobilization process to start slowing down.
Higher GDP per capita, estimated at $1,027-1,030 in 2008 by the General Statistics Office, will weed Vietnam from off the list of poor countries (GDP per capita less than $960 per annum per the United Nations). However, experts say that the more important thing for Vietnam to aim at is sustainable development.
Representatives of the Vietnamese and Japanese governments on Nov. 12 signed a memorandum of understanding on the implementation of an action plan for the third phase of the Vietnam-Japan Joint Initiative (VJJI) (2009-2010).
While real estate developers have announced in local newspapers that they will sue CB Richard Ellis (CBRE) for spreading the rumor about the sharp price falls of apartments, CBRE remains quiet.
Asia focused oil and gas company Salamander Energy is to sign a production sharing agreement for Block 31, off the coast of southern Viet Nam.
The Prime Minister has approved the development plan of Phu Quoc International Airport in the resort Phu Quoc island in southern Kien Giang province till 2020 with orientation to 2030.
Automobiles, scooters, mobile phones, perfumes and cosmetics, plastic products, rubber products, garments and porcelain are among the subjected goods.
On March 5, Vietsovpetro joint venture and PetroVietnam Technical Service Joint Stock Corp (coded PVS) signed a principle contract on using the FSO 5 (Floating Storage Offloading).
Domestic firms are being advised to use arbitrators to settle disputes rather than resort to the courts. Dau Tu (Investment) newspaper spoke to Nguyen Minh Chi, president of the Viet Nam International Arbitration Centre.
An international container shipping route from Cai Lan port in Quang Ninh province to China and Hong Kong was officially launched on December 18.
Vietnam will continue to be an attractive destination for international investors in the years to come, said former Vice State President Truong My Hoa.
