Ho Chi Minh City is paying attention to attract new-generation FDI - Illustrative image (Source: VNA) HCM City (VNA) – Ho Chi Minh City is giving the priority to luring new-generation foreign direct invest (FDI) in the fields of high technology and urban development, along with FDI attraction in the four main industries and two traditional sectors. According to Su Ngoc Anh, Director of the municipal Department of Planning, if the city attracted only 3.46 billion USD in 2016, the figure rose to 6.6 billion USD in 2017, a year-on-year increase of more than 90 percent, and 1.55 billion USD in the first four months of this year. This is an encouraging result for the city’s economic development, Anh said, adding that the city’s proportion in the nation’s FDI attraction increased from 13 percent in 2016 to 18.4 percent last year. The city is exerting efforts to call for investment in 190 projects, focusing on the development of smart and innovative urban areas. … [Read more...] about Ho Chi Minh City prioritises luring FDI in urban development
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Various activities mark 128th birthday of President Ho Chi Minh
An art performance at the Sen Village Festival 2018 (Photo: VNA) In the late leader’s hometown at Sen village, Kim Lien commune, Nam Dan district of the central province of Nghe An, the “Le hoi Lang Sen” (Sen Village Festival) took place from May 16th-19th to express the local people’s love and respect for the leader. The festival, which is held every year on the occasion of the President’s birthday, included diverse activities such as the screening of documentary films and a photo exhibition on the President, and a singing contest involving 600 artists. Meanwhile at the Nha Rong port in Ho Chi Minh City, where Ho Chi Minh boarded a ship to begin his journey to seek a way to savage the country in 1911, an exhibition was held, showcasing nearly 200 photos and documents highlighting President Ho Chi Minh’s role in patriotic emulation movements. The President issued an appeal on patriotic emulation on June 11th, 1948, starting long-term and large-scale … [Read more...] about Various activities mark 128th birthday of President Ho Chi Minh
Corrupt customs officer gets 12 years behind bars in Ho Chi Minh City
By Hai Duyen  April 11, 2018 | 04:02 pm GMT+7 Nguyen Tuong Duy stands in court in Ho Chi Minh City for bribery charges. Photo by VnExpress/Hai Duyen The officer refused to plead guilty, saying the $42,000 police seized came from donations for his sister's funeral. A court in Ho Chi Minh City sentenced a customs officer to 12 years in prison on Tuesday for accepting bribes. Nguyen Tuong Duy, 50, was found guilty of taking VND964 million ($42,000) from businesses in the city. He was initially prosecuted for abuse of power, but the charge was upgraded to accepting bribes. Duy is believed to have threatened firms and abused his power as a product controler dealing with trade fraud and trafficking at Cat Lai Port and Linh Trung Export Processing Zone. The disgraced officer refused to plead guilty but was convicted after the court deemed the evidence against him was overwhelming. Police seized 64 envelopes containing money from his mother’s home in … [Read more...] about Corrupt customs officer gets 12 years behind bars in Ho Chi Minh City
Ho Chi Minh City to remove ten ports along Saigon River, replaced by high rise buildings
According to the Ministry of Transport, to facilitate urbanisation, ten ports located along the Saigon River will be removed. Ho Chi Minh City to remove 10 ports along the Saigon River The affected ports are Ba Son Shipping Plant, Nha Rong-Khanh Hoi Port, Tan Thuan 2, Bong Sen, special port for vegetables, Bien Dong Port, Tan Thuan Dong Port, Ben Nghe Port, Logistic Development JSC, and ELF Saigon. Tan Thuan Port, which is located at District 7, will be moved to Hiep Phuoc of Nha Be district in order to provide land area to build the fourth Thu Thiem Bridge. Hiep Phuoc Port will become the main port of Ho Chi Minh City after 2020. The port can receive 4,000 tonne ships and serve neighbouring industrial clusters. Nha Rong-Khanh Hoi port will be removed before December 31 this year. The land plot will be given to Fareast Pearl Urban Development Company to raise a multifunctional complex of high-rise buildings, trading centre, apartments, villas, primary and secondary schools, … [Read more...] about Ho Chi Minh City to remove ten ports along Saigon River, replaced by high rise buildings
Ho Chi Minh City looks to develop sea-based economy
As the country’s largest economic hub, Ho Chi Minh City plans to enhance its sea-based economy as part of its strategy to develop the city. The operation of the Soai Rap sea route in 2014 under the city’s strategic plan of “moving towards the sea” has helped increase the number of ships entering the city, especially foreign ones. The Sai Gon – Hiep Phuoc is one of three ports in the route. Currently, the port has deployed 500 metres of wharf, capable of receiving 50,000 tonne-ships. An additional 1,000 metres will be built in the coming time, helping receive cargo ships in the region. "The Sai Gon – Hiep Phuoc port has received more than 200 tonnes of cargo with more than 20 ships since it began operation in July 2017," said Deputy Director of Sai Gon Port Joint Stock Company, Nguyen Quoc Hung. "The port is expected to receive more in the future," he added. According to the city’s development plan, the locality will develop … [Read more...] about Ho Chi Minh City looks to develop sea-based economy