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South Korean investors back from recess

April 22, 2021 by www.vir.com.vn

Manufacturing is by far one of the most attractive industries for South Korean investors in Vietnam. Photo: Duc Thanh

SK Group will lead a South Korean business delegation, including all leading companies in various sectors looking to invest and expand, to Vietnam next month. Senior managers of SK Group, the third-largest conglomerate in South Korea, will visit leading counterparts in Vietnam such as Vingroup and Masan Group to discuss the expansion and development of investment plans in more promising fields like ICT, bio-healthcare, energy, and the environment.

“Seeing the potential of Vietnam for upcoming investment and cooperation plans, SK Group will strengthen direct investment projects, in addition to acquisitions and indirect investments already carried out,” an expert from the Korea Chamber of Commerce and Industry (KCCI) in Vietnam told VIR.

In early April, SK acquired 16.26 per cent in VinCommerce, one of Masan Group’s subsidiaries, for a cash consideration of $410 million.

Two years ago, SK Group carried out indirect investment into VinCommerce via a 6.1 per cent stake of Vingroup, owner at the time, valued at $1 billion. It also took 9.5 per cent stake in Masan Group valued at $470 million, as well as around $29 million for a 24.9 per cent stake in local pharmaceutical firm Imexpharm. Total investment of SK Group in Vietnam is estimated at $2 billion.

Moreover, SK Group worked out a deal with Petrolimex, poured money into the Long Son petrochemical project in the southern province of Ba Ria-Vung Tau, provided telecoms solutions for MobiFone, and invested millions of US dollars to develop innovation activities in Vietnam.

Also strengthening its footprint in the country, senior leaders of Hanwha Energy will arrive in Vietnam to discuss and sign cooperation agreements of investments valued at $500 million and $300 million. The investor also would like to accelerate the Hai Lang liquefied natural gas project in the central province of Quang Tri, developed in collaboration with local partner T&T Group and other South Korean groups with investment sitting at $2 billion.

Additionally, real estate and infrastructure are also promising lands for South Korean investors. Land & Housing Corporation, along with Korea Overseas Infrastructure & Urban Development Corporation, will arrive in the country to push forward a $1.5-billion Vietnam-South Korea Industrial Zone project in the northern province of Hung Yen and consider other real estate projects nearby; while Almus – a tier-1 supplier for tech giant Samsung – is looking for the chance to develop an additional factory valued at tens of millions of dollars.

“This is not the first special visit of foreign investors into Vietnam over the last year. These visits carry numerous hopes, plans, and billion-dollar contracts for Vietnam despite travel interruptions hit by the pandemic, and they reflect the attraction of Vietnam for foreign investors and South Korean ones in particular,” the KCCI expert said.

Meanwhile, chairman of the Korea Chamber of Business in Vietnam Kim Heung-Soo said that the efforts of the Vietnamese government in fighting against the pandemic, as well as improving the investment and business climate, have been highlighted by South Korean investors.

“Manufacturing will be the most attractive industry for South Korean businesses to invest in Vietnam. If manufacturing gains more priority than the services sector, it will significantly contribute to accelerating the speed and quality of the country’s growth, as well as lure more foreign investors into Vietnam,” Soo said.

Accumulating to the end of March, South Korea is the top investor in Vietnam with over 9,000 valid projects registered at $71.5 billion, making up 18.2 per cent of total foreign direct investment into Vietnam. In the first quarter alone, South Korea ranked third following Singapore and Japan of leading foreign investors in Vietnam, with nearly $1.2 billion into 324 projects and other deals.

By Nguyen Huong

MND sees off L2FH Rotation 3’s personnel to UNMISS

April 22, 2021 by en.qdnd.vn

The event was attended by Major General Hoang Kim Phung, Director of the Vietnam Department of Peacekeeping Operations, and Major General Nguyen Hong Son, Director of Military Hospital 175, among others.

Previously, a group of personnel of the hospital left Ho Chi Minh City for South Sudan on March 24 on the Royal Australian Air Force’s Boeing C-17 Globemaster III. After the required quarantine time, they moved to Bentiu to replace their colleagues at the L2FH Rotation 2.

Speaking at the event, Major General Nguyen Hong Son required the personnel of the L2FH Rotation 3 to strictly observe the discipline of the Vietnam People’s Army and regulations of the host country, especially the ones related to COVID-19 prevention and control.

He hoped that they will promote solidarity, responsibilities, mutual support, and the good virtues of Uncle Ho’s soldiers, contributing to fulfilling all assigned missions.

The People’s Army Newspaper would like to introduce some images of the hospital’s personnel at the send-off ceremony.

Translated by Trung Thanh

Vietnam posts trade deficit of US$1.31 billion in first half of April

April 22, 2021 by vov.vn

The department indicated that the nation had an import-export turnover of approximately US$27 billion, of which exports and imports reached US$12.65 billion and US$13.96 billion, respectively.

Throughout the reviewed period, the two groups of imported goods with a revenue of over US$2 billion consisted of computers, electronic products and components with US$2.82 billion, along with machinery, equipment, tools and spare parts with more than US$2 billion.

With regard to ongoing export activities, four categories of goods with a turnover of billions of US$, included computers, electronic products and components with US$1.84 billion, phones and accessories with US$1.82 billion, machinery, equipment, tools and spare parts with more than US$1.45 billion, along with textiles and garments with US$1.2 billion.

Since the beginning of the year to April 15, the country’s total export turnover recorded a surge of 26.8% to over US$90 trillion compared to the same period from last year, equivalent to an increase of US$19.23 billion, while imports soared 29.1% to US$89.5 billion on-year, equivalent to a rise of approximately US$20.2 billion.

Throughout the reviewed period, Vietnam’s total import-export turnover reached US$180.5 billion, with the country maintaining a trade surplus of roughly US$1.5 billion.

Nation records trade deficit of US$250 million in first half of January

January 21, 2021 by vov.vn

In line with these figures, the country exported goods worth a total of US$12.9 billion while spending US$13.15 billion on imports. Indeed, export turnover throughout the reviewed period increased by approximately US$2 billion, equivalent to over 18.3%, an increase which can be considered highly impressive compared to the growth rate of 7% seen during the same period last year.

During the first half of January, the nation had four groups of goods with export turnover reaching over US$1 billion, with the new category of machinery, equipment, tools and spare parts enjoying robust growth in export turnover, grossing US$1.45 billion, representing a sharp increase of 72% compared to the same period from last year.

The remaining three commodity groups also maintained a turnover of over US$1 billion, including phones and accessories, computers, electronic products and components, garments and textiles, of which phones and components were export items with the largest turnover of US$2.86 billion.

Import turnover also saw a rise of some US$2.2 billion compared to the same period from last year, equivalent to an increase of more than 19%.

COVID-19: Four new imported cases bring national count to 2,816

April 22, 2021 by vov.vn

All the latest cases are Vietnamese citizens who entered the nation from Japan, Singapore, and Russia.

In the morning the same day, two Indian experts and four Vietnamese nationals were also confirmed positive for the SARS-CoV-2 virus.

Among the country’s active patients, a total of 40 cases have since tested negative for the virus, with the majority of them recording several negative results.

As many as 39,191 individuals are currently in isolation undergoing medical monitoring across the nation.

At present, the country has seen 2,490 recoveries from the COVID-19 disease, while the death toll remaining unchanged at 35.

The Ministry reported that a total of 108,897 frontline workers nationwide have received the COVID-19 vaccine as of 4 p.m. on April 21.

Furthermore, to prepare for future COVID-19 vaccination campaigns, the Department of Health of the central highlands province Dak Lak have organised a training course aimed at ensuring safety during the vaccination process for 90 healthcare workers based in the locality.

Nguyen Trung Thanh, deputy director of the provincial Department of Health, said that Dak Lak has so far received 15,700 doses of the COVID-19 vaccine, with the province set to launch its inoculation scheme from April 27 to May 7. This will involve three priority groups, including people working at healthcare facilities and those involved in pandemic prevention and control across the province.

Meanwhile Can Tho International Airport welcomed two flights on April 21 which brought back Vietnamese citizens from Taiwan (China), with the group quarantined in line with regulations set out the Ministry of Health.

Vietnam’s first-ever ‘sleepless city’ officially opens on Phu Quoc Island

April 22, 2021 by tuoitrenews.vn

Vingroup’s Phu Quoc United Center – Southeast Asia’s leading entertainment complex – was officially launched on Vietnam’s Phu Quoc Island on Wednesday evening and is expected to open up many opportunities for night-time economic development.

Speaking at the opening ceremony, Le Khac Hiep, vice-chairman of Vingroup, said the inauguration of Phu Quoc United Center will help the island grow rapidly and soon become an important economic center in southern Vietnam, as well as a paradise for tourism and luxury resorts not only in the country but also in the region.

It will lead to a new stage of development for businesses that have had a close and long-term relationship with Phu Quoc, including Vingroup.

The inauguration of Phu Quoc United Center in Phu Quoc island city, Kien Giang Province, Vietnam, April 21, 2021. Photo: T.T.D. / Tuoi Tre

The inauguration of Phu Quoc United Center in Phu Quoc Island City, Kien Giang Province, Vietnam, April 21, 2021. Photo: T.T.D. / Tuoi Tre

“Since 2014, Vingroup has implemented ambitious projects with a long-term vision,” Hiep stated.

“Today, we officially put into operation Southeast Asia’s leading tourism-resort-entertainment complex.

“Phu Quoc United Center is a comprehensive ecosystem and a tourist destination that is able to meet all visitors’ needs.

“An inter-level school will also be established on the island in the coming time.”

Chairman of the Phu Quoc People’s Committee Huynh Quang Hung arrives at the opening ceremony on April 21, 2021. Photo: Duy Khanh / Tuoi Tre

Chairman of the Phu Quoc People’s Committee Huynh Quang Hung arrives at the opening ceremony on April 21, 2021. Photo: Duy Khanh / Tuoi Tre

Super entertainment complex

Phu Quoc – Vietnam’s first island city – is granted a lot of special mechanisms and policies to promote economic and tourism development, according to Huynh Quang Hung, chairman of the Phu Quoc People’s Committee.

A total of 328 projects worth up to US$16 billion have been established by major corporations on the island so far, Hung continued.

The number of visitors to Phu Quoc increases 25-30 percent every year, he said, adding that the island is expected to welcome three million visitors, who are mainly domestic tourists, in 2021.

“The brand new super entertainment complex plays a significant role in Phu Quoc’s tourism developmen,” Hung remarked.

The replica of Venice’s Grand Canal at Phu Quoc United Center. Photo: Hai Trieu / Tuoi Tre

The replica of Venice’s Grand Canal at Phu Quoc United Center. Photo: Hai Trieu / Tuoi Tre

Ry, a foreign visitor who has been in Vietnam for a year, said he was extremely excited at the opening of Phu Quoc United Center – an all-in-one resort complex.

Rod Beriver, a Canadian businessman, said he was surprised by the magnificence and cleanliness of the super tourism-resort-entertainment complex, especially the replica of Venice’s Grand Canal, which made him feel like he was in modern and glamorous Europe.

Beriver came to Vietnam about seven years ago and is running a business inside Phu Quoc United Center.

This ‘sleepless city’ can totally be compared with other leading destinations in Asia such as Japan and Hong Kong, the Canadian man added.

A food stall within the Grand World Phu Quoc Pedestrian Street – Night Market. Photo: Chi Cong / Tuoi Tre

Vietnam’s first ‘sleepless city’

Vietnamese singer Dang Khoi arrived at Grand World, part of the Phu Quoc United Center, not only as an artist but also an investor since he owns a shophouse in the complex.

“I’ve been looking forward to the grand opening of the complex and hope it will become an attractive tourist destination in the future,” Khoi said.

“I believe this ‘sleepless city’ will spur Vietnam’s tourism in the coming time.”

Nguyen Duc Duy, a Ho Chi Minh City resident, said he landed in Phu Quoc on Wednesday morning on the occasion of the Hung Kings Festival.

Duy and his friends rented some bicycles to tour the Grand World and planned on partying all night long following the opening ceremony of Phu Quoc United Center.

Visitors enjoy their meals at a restaurant at Phu Quoc United Center. Photo: Chi Cong / Tuoi Tre

Visitors enjoy their meals at a restaurant at Phu Quoc United Center. Photo: Chi Cong / Tuoi Tre

“I cannot believe Vietnam has such a unique and spectacular entertainment compound,” the visitors exclaimed.

Pham Van Anh, who resides in Duong Dong Town, Phu Quoc City, said she is happy that her hometown has such a special entertainment complex.

“I hope that Phu Quoc will continue to develop so that more tourists will come to and fall in love with the island,” Anh remarked.

The woman added her family had spent VND150,000 (US$6.5) on an enjoyable boat ride along the Venice Grand Canal.

About 300 agricultural products and specialties of various localities were also presented to visitors in the ‘sleepless city.’

A food stall within the Grand World Phu Quoc Pedestrian Street - Night Market. Photo: Chi Cong / Tuoi Tre

A food stall within the Grand World Phu Quoc Pedestrian Street – Night Market. Photo: Chi Cong / Tuoi Tre

Bustling promenade, night market

Grand World currently has three main projects, namely the Grand World Phu Quoc Pedestrian Street – Night Market, NightZone 68, and Saigon Seafood Hub Market, according to Huynh Van Son, general director of Sea Star Saigon JSC.

Open from 6:00 pm to 6:00 am daily, NightZone 68 is the first model to be developed in the night economic complex, Son elaborated.

“The night economy here is an example of a ‘sleepless city,’ which is completely different from the night streets in other urban areas,” he elaborated.

The Pedestrian Street – Night Market has 134 stalls selling food, souvenirs, specialties, local products, travel necessities, and fashion items.

A bird’s-eye view of Grand World Phu Quoc – a ‘sleepless city.' Photo: Hai Trieu / Tuoi Tre

A bird’s-eye view of Grand World Phu Quoc – a ‘sleepless city.’ Photo: Hai Trieu / Tuoi Tre

Five national records at Phu Quoc United Center

Phu Quoc United Center is holding five national records recognized by the Vietnam Record Association, namely the largest complex with diverse entertainment and resort forms, the largest bamboo construction, the first Teddy Bear Museum, the 3D multimedia show with the most Vietnamese historical references, and the largest floating multimedia show inspired by European culture.

The largest bamboo construction in Vietnam, named Bamboo Legend and designed by famed Vietnamese architect Vo Trong Nghia, is made from more than 32,000 bamboo trees with curved arches inspired by traditional and unique communal houses of the Southeast Asian country.

Representatives of Phu Quoc United Center receive five national records from the Vietnam Record Association on April 21, 2021. Photo: T.T.D. / Tuoi Tre

Representatives of Phu Quoc United Center receive five national record certificates from the Vietnam Record Association on April 21, 2021. Photo: T.T.D. / Tuoi Tre

Covering more than 1,500 square meters, the Phu Quoc Teddy Bear Museum has become the eighth member of the global Teddy Bear Museum network.

The museum houses over 500 teddy bears, including the first teddy bear to be manufactured in the United States.

Recognized as the 3D multimedia show with the most Vietnamese historical references, ‘The Quintessence of Vietnam’ show comprises nearly 3,000 daytime mini-shows and 365 nocturnal events each year.

The show recreates the life, culture, and history of Vietnam in ancient times and conveys profound traditional and cultural messages.

Bamboo Legend – Vietnam’s largest bamboo construction. Photo: Hai Trieu / Tuoi Tre

Bamboo Legend – Vietnam’s largest bamboo construction. Photo: Hai Trieu / Tuoi Tre

Recognized as Vietnam’s largest floating multimedia show inspired by European culture, ‘The Color of Venice’ super show has a 15,000 square-meter underground stage and the most advanced equipment, recreating the picturesque Venice through Waltz dances, lighting, music, and performances on the water surface.

The show trilogy in Phu Quoc United Center ended with the world-class water music performance named ‘Once Show,’ performed by world-renowned Quantum Creative Studios.

Bamboo Legend – Vietnam’s largest bamboo construction. Photo: Hai Trieu / Tuoi Tre

Bamboo Legend – Vietnam’s largest bamboo construction. Photo: Hai Trieu / Tuoi Tre

The Phu Quoc Teddy Bear Museum. Photo: T.T.D. / Tuoi Tre

The Phu Quoc Teddy Bear Museum. Photo : T.T.D. / Tuoi Tre

A performance part of ‘The Elite of Vietnam’ show. Photo: T.T.D. / Tuoi Tre

A performance of ‘The Quintessence of Vietnam’ show. Photo: T.T.D. / Tuoi Tre

A performance part of ‘The Color of Venice’ super show. Photo: Tuoi Tre

A performance of ‘The Color of Venice’ super show. Photo : Tuoi Tre

A firework performance at the Venice’s Grand Canal at Phu Quoc United Center. Photo: T.T.D. / Tuoi Tre

A fireworks display at the Venice Grand Canal at Phu Quoc United Center. Photo : T.T.D. / Tuoi Tre

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