Business News

US$110mil to develop tourism in Nhon Hoi Economic Zone

2007-02-24T02:12:00.002-08:00

US$110mil to develop tourism in Nhon Hoi Economic Zone

Chairman of the Binh Dinh Provincial People’s Committee, Vu Hoang Ha, on October 24 worked with the Hanoi Urban Civilisation Development Company and an American consultancy firm on the detailed planning for two tourist sites in the province’s Nhon Hoi Economic Zone.

The two tourist sites are the coastal Phuong Mai international ecological tourist – residential area and Canh Tien villa and resort project, totaling over US$110mil. Those projects have attracted special attention of foreign investors.

First foreign bank operates in Chu Lai OEZ

2007-02-24T02:12:00.001-08:00

First foreign bank operates in Chu Lai OEZ

Taiwan’s Cathay Bank will open its branch in the Chu Lai Open Economic Zone (OEZ) on November 1 with a capital of US$15mil, reports the zone’s management board.

This is the tenth project of Taiwanese businesses in Chu Lai and the first foreign bank to open a branch in the zone.

Twenty-three projects were licenced to invest in Chu Lai OEZ in the January – October period, totaling more than $172mil of registered capital, raising the total number of projects to 119 and total registered capital to $1.405bil.

(Source: Nguoi Lao Dong)

Foreign investment hits US$4.58bil

2007-02-24T02:11:00.000-08:00

Foreign investment hits US$4.58bil

Foreign direct investment to Vietnam has reached US$4.58bil, exceeding the yearly target of $4.5bil, reports the Ministry of Planning and Investment’s Foreign Investment Department.

Luxembourg’s SA Coralis is the biggest investor with $655.9mil to develop a mobile phone network using CDMA technology and another to build a 65-storey building in Hanoi. Other large investors include the Republic of Korea, Hong Kong, Taiwan and Japan.

In the report, Hanoi attracted the largest foreign investment, followed by Dong Nai Province and Binh Duong Province.

(Source: Tuoi Tre)