The Ministry of Transport (MOT) held a conference on May 17 to call for investment in a number of sections of the eastern North-South Expressway. The total costs for these 11 projects are estimated at VND118 trillion (US$5 billion) The conference drew the participation of around 100 domestic investors and 50 foreign investors from Japan, China and the Republic of Korea. MOT Deputy Minister Nguyen Nhat said, in the first stage until 2020, Vietnam plans to build 11 sections of the North-South Expressway with a total length of 654 kilometres traversing 13 provinces and cities. Three sections will be funded by the government budget while the other eight will be built under public-private partnerships (PPP). The total costs for these 11 projects are estimated at VND118 trillion (US$5 billion), of which the government will spend VND55 trillion (US$2.4 billion) on three public investment projects and site clearance for other projects. Deputy Minister Nhat said the MOT is working to … [Read more...] about Vietnam calls for investment in North South Expressway
Invest in north korea
U.S. envoy raises prospect of U.S. compromise in North Korea talksThe Saigon Times Daily U.S. President Donald Trump speaks as he prepares to sign an Executive Order during a meeting with manufacturers in the Oval Office of the White House in Washington, U.S., January 31, 2019 – PHOTO: REUTERS WASHINGTON (REUTERS) - Washington is willing to discuss “many actions” to improve ties and entice Pyongyang to give up nuclear weapons, the U.S. special envoy for North Korea said on Thursday, but set out an extensive list of demands for the North, including a full disclosure of its weapons program. In a speech at Stanford University in Palo Alto, California, envoy Stephen Biegun did not elaborate on what concessions the United States might make, but said the “corresponding measures” demanded by North Korea would be the subject of talks next week. Biegun will arrive in Seoul on Sunday for meetings with South Korean officials, before holding talks with North … [Read more...] about U.S. envoy raises prospect of U.S. compromise in North Korea talks
Donald Trump dangled the carrot of foreign investment in front of North Korean leader Kim Jong Un at their nuclear summit, but analysts say few will want to put money into one of the highest-risk business environments in the world. The U.S. president showed Kim a movie of bright lights, high-speed trains and soaring tower blocks - pitching a future that could be possible if Pyongyang gives up its weapons. Optimists say that with mineral wealth, cheap labour, and a helpful geographical location, the North has huge potential. But the history of overseas firms who have tried to set up operations in the isolated, impoverished country is a long and sorry one. Rules that can change on a whim, bills that are never paid, and the threat of expropriation hang over foreigners who step into the wildest of wild east investment destinations. For now, dozens of restrictions apply under the various sanctions regimes imposed on the North over its nuclear ambitions. Joint ventures are banned by the U.N. … [Read more...] about Invest in North Korea: money pit or golden opportunity?
High-ranking officials of the United States and North Korea met in New York late on Wednesday in the first of two days of talks about the future of Pyongyang’s nuclear weapons program and a possible summit between U.S. President Donald Trump and North Korean leader Kim Jung Un. U.S. Secretary of State Mike Pompeo and Kim Yong Chol, a close aide of North Korean leader Kim Jung Un, met for about 90 minutes over dinner and exited without providing any detailed remarks to reporters waiting outside. Pompeo would only say that the dinner “was great” and that the two men dined on “American beef.” It was not yet known whether the two men made any progress toward narrowing long-standing differences between Washington and Pyongyang that could end decades of hostile relations. Earlier in the day, the White House left open the possibility of a Trump-Kim summit on June 12 in Singapore, despite Trump’s cancellation of the meeting just days ago. As the dinner was … [Read more...] about High-level US-North Korea nuclear talks get underway in New York
WASHINGTON — The United States is prepared to offer North Korea security assurances and bountiful private investment if it makes the strategic choice to give up its nuclear weapons, US Secretary of State Mike Pompeo pledged Sunday. The US price for normalisation -- complete, verifiable and irreversible denuclearization -- is one Pyongyang has never before been willing to pay, seeing nuclear weapons as the ultimate guarantee of the regime’s survival. But both countries have been on charm offensives ahead of the summit June 12 in Singapore between Donald Trump and Kim Jong Un, the first ever between a sitting US president and a North Korean leader. On Saturday, North Korea said it will destroy its nuclear test site later this month -- a gesture Trump quickly hailed as "very smart and gracious." Pompeo, who has met twice with Kim, described him as well-informed and attuned to western media coverage, a leader "who knows his brief" and what he wants to achieve. The … [Read more...] about US ready to offer North Korea security assurances, investment: Pompeo