After Ha Noi expanded to thrice its original size a few months ago, many experts have revived a protest against a mega project to reclaim land on both sides of the Red River (Song Hong) in the capital to build a modern 'city'. "Red River City", built by narrowing the river's flow along a 12-kilometer stretch, would not only cost a lot of money but could also destroy centuries of tradition centered in that very area, they warned. Professor Nguyen Tai of the capital's privately-owned Phuong Dong University said it would endanger the fate of traditional trade and craft villages on both sides of the river and gradually diminish, through human intervention, heritages and cultural centers."Should we invest in eco-zones, parks, resorts, and exhibition centers [along the river] rather than skyscrapers [that] will imprison the river and obstruct its magnificent natural views?" "We cannot afford to turn this famous river into another To Lich," he warned, referring to another river that was a … [Read more...] about Is a multi-billion-dollar riverside city necessary in expanded Hanoi?
Billion ford sioux city
Prime Minister Nguyen Tan Dung approved a US$14.8 billion plan to build commuter railway networks inside traffic-choked Hanoi and Ho Chi Minh City over the next 12 years. Hanoi will receive $7.3 billion to build seven railway lines, including sky trains and subways, according to a statement released on the government's website on Sunday. Of the total cost, $5.5 billion will come from foreign investment. Ho Chi Minh City will receive $7.5 billion, of which $6.3 billion will be foreign invested, to build six urban railways and metro lines. Prime Minister Dung has asked officials to speed up preparations for the elevated and underground railway systems and focus on attracting overseas aid and loans for the projects, according to the statement. Vietnam spends about nine to 10 percent of its gross domestic product on infrastructure with about half of that going to transport, the World Bank said in a report in May. Vehicle sales in the country have more than doubled in the year … [Read more...] about $15 billion plans for city railway systems
(VOV) - Ho Chi Minh City has approved the application by the Republic of Korean Samsung Group to construct a US$1 billion electronics manufacturing facility at the city's Hi-Tech Park. Samsung to pour billions of dollars in Vietnam Samsung Vina increase global market share Samsung expands operations in Vietnam Vice Chairman of the municipal People's Committee Le Manh Ha said the decision by Samsung to proceed with the project is a strong signal that investor confidence remains unaffected by recent social disorder, which sprung out of the East Sea dispute. It demonstrates investors' continued faith and trust in the city's effort to accelerate administrative reforms, simplify investment procedures and offer incentives to facilitate foreign businesses operating in the city. Regarding the social disorder earlier in May, a number of workers and people demonstrated against China's illegal deployment of its oil rig Haiyang Shiyou-981 in Vietnam's Exclusive Economic Zone (EZZ) … [Read more...] about Samsung invests over US$1 billion in HCM City factory
Malaysia keen on investment in Bac Ninh Vietnam-Malaysia bilateral trade hits US$4 billion By June 2012, Malaysia had invested in 169 projects in HCMC worth US$5.8 billion, making it the biggest foreign investor in the city. Thuan said the many Malaysian leaders and business delegations have visited the city to seek investment opportunities, adding that the direct air route between HCMC and Malaysia has facilitated bilateral exchanges and cooperation. In 2011 alone, HCMC welcomed more than 174,000 Malaysian visitors. Thuan said that education and tourism are potential fields for stronger cooperation between the two countries in the future. At the meeting, Malaysian Ambassador Dato Azmil Mohd Zabidi said he was very pleased with the fine trade relationship between the two nations after nearly 40 years of diplomatic ties. Bilateral trade has grown steadily, reaching more than US$6.5 billion in 2011 and Malaysia is also one of the leading foreign investors in Vietnam. … [Read more...] about Malaysia invests more than US$5.8 billion in HCM City
Nhan Dan - More than VND 1,370 billion was spent to help needy families and social policy beneficiaries in Ho Chi Minh City on this year's Tet (Lunar New Year), an increase of 37% compared to the previous Tet holiday, according to figures announced on February 22 at a meeting in Ho Chi Minh City. Of the amount, nearly VND372 billion from the city budget and over VND1,000 billion mobilised from People's Committee of districts and other organisations were spent for gifts to social beneficiaries, contributors to the revolution and poor households in the city. The Ho Chi Minh City Labour Federation offered gifts for 712,000 workers and purchased bus tickets for 26,782 workers to go back home for the holiday. The Fund for the Poor supported 8,800 policy beneficiaries, Vietnamese heroic mothers, Heroes of the People's Armed Forces and Labour Heroes, as well as poor families. … [Read more...] about Over VND 1,370 billion for HCM City’s social policy beneficiaries during Tet