Lotte Vietnam said that it takes an average of 5-8 years from the opening day to the breakeven point, but this company has still reported an accumulated losses of VND800 billion ($35.2 million) over the last 11 years in Vietnam. The Lotte Mart in Can Tho is one of 13 locations in Vietnam Lotte Vietnam Shopping JSC started operations in Vietnam at the end of 2006 in the retail distribution sector. This is the most potential retail and distribution market in Asia due to the young labour force, high-speed urbanisation, and the development of industrial production and services. Thus Lotte Vietnam Shopping decided to invest into trade centres across big cities and provinces in the country, as well as upgraded on-going centres, invested into facilities, and improved selling policies and services while all investors are developing fast. Jeong Seong Won, chief finance officer of Lotte Vietnam Shopping, committed to long-term investment and accepted short-term losses. "In order … [Read more...] about When Lotte Vietnam to turn profit?
Visiting and exploring investment opportunities in the northern province of Ha Nam is part of the scheme, said Director General of Lotte Centre Hanoi Lee Jong Kook during his working session with local authorities on February 27. The official spoke highly of the province's socio-economic progress in recent years and its foreign investment attraction policies. He also underlined the encouraging transport links as a local advantage to facilitate operations for overseas investors, including Lotte - which hopes to make contributions to the locality's development. The group was suggested a list of places where it can pour money into building trade centres. Lotte operates in many countries such as China, Japan and Indonesia in trade and high-quality services. Lotte Mart trade centres can be found in Ho Chi Minh city, central Da Nang city and Binh Thuan province, and the southern provinces of Binh Dinh and Dong Nai. The Hanoi centre will be launched … [Read more...] about Lotte wants to further operate in Vietnam
New Lotte Mart to go up in Vung Tau Hung Le By Hung Le - The Saigon Times Daily HCMC – Lotte Vietnam has got approval to set up a new Lotte Mart shopping mall in the southern coastal city of Vung Tau, where two other store chains – Co.opMart and Metro Cash & Carry – have established a market presence. Ba Ria-Vung Tau Province has handed over an investment certificate to Lotte Vietnam to implement the Lotte Mart Vung Tau project worth more than VND721 billion. The development will cover over 10,000 square meters at the intersection of Ba Thang Hai and Thi Sach streets in Ward 8. Like other projects in HCMC and elsewhere in the country, the Vung Tau project will comprise a supermarket, a goods processing and retail section, restaurants, and entertainment facilities like children’s playground, billiards and bowling areas, gaming section, fitness center, and cinema. The company is expected to begin work on the project in the first quarter this year and put … [Read more...] about New Lotte Mart to go up in Vung Tau
Lee & Man Paper Manufacturing Limited has said it will resume work on its paper and pulp plant in the Mekong Delta province of An Giang this April. The US$1.2 billion project is expected to be able to produce 600,000 tons of paper per year, but construction was suspended for years after Lee & Man Paper obtained the investment certificate from the local government in June 2007. The first phase of the project would cost some $350 million, according to the investor. The 100% foreign invested company is operated by the Lee & Man Paper Co Ltd, the Vietnamese subsidiary of the Chinese papermaker. With construction restarted, it is expected that the plant will become operational by late 2015, according to Lee & Man Paper. The Chinese firm has recently sought permission from the local government to open a seaport and build its own road to transport goods, as well as set up a customs station to serve the exports of its products. The plant is located in the Phu Huu A … [Read more...] about Chinese papermaker restarts $1.2 bln Vietnam project
VietNamNet Bridge – Keangnam Landmark 72, Lotte Center Hanoi and Bitexco Financial Tower are the tallest buildings in Vietnam, showing the high expectations of investors in Vietnam. Keangnam Hanoi Landmark 72 Keangnam Hanoi Landmark Tower was developed by Keangnam Enterprise of South Korea in Hanoi. Construction began in 2007 and the building opened in 2011, with a total investment of up to $1.05 billion. With a height of 350 meters, the building broke the record height of 262 meters of Bitexco Financial Tower in HCM City to become Vietnam’s tallest building and the world’s 17th tallest building upon its inauguration. The total area of this work is 579,000 m2, including a 72-storey building and two 48-storey apartment buildings with an observatory, a 5-star hotel, a business and entertaining center, a hall which can accommodate 2,000 people, nearly 1,000 apartments and 36 floors of Class A offices for rent. The investor said that this building is like a small city in … [Read more...] about The image of Vietnam’s three tallest buildings