The fast-growing country will be only the third Southeast Asian nation to host an F1 race as the glitzy franchise seeks to tap new regional markets after an $8 billion takeover by U.S. firm Liberty Media last year. Hanoi, confirmed as host on Wednesday, was far from an obvious choice: it's not the richest city in the region, and motorsports remain on the fringe in the football-mad nation. But with its 10-year F1 deal worth tens of millions, Vietnam has promised to succeed where some other Asian countries, India, South Korea and Malaysia, have not. Facing financial strains, all three pulled the plug on hosting the race in the past five years, a warning sign for ambitious cities tempted to enter the costly sport. "They (F1) can't really afford a failure," said Laurence Edmondson, ESPN's F1 editor. Asia's shining example is Singapore, whose glittering, downtown night race quickly became a mainstay of the F1 circuit. In the right market, F1 races can rake in tens of millions of dollars … [Read more...] about Pitlanes and pitfalls: Vietnam’s bid to avoid F1 flop
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The Hanoitimes - Foreign direct and indirect investment inflow to Vietnam has still maintained growth though many other Asian markets have suffered a significant capital withdrawal in the wake of the US Treasury’s interest rate hikes. Vietnam’s high GDP growth in 2018 is very supportive information for investors According to statistics from the State Securities Commission (SSC), from the beginning of this year to the end of October 9, net foreign flows into Vietnam inched up to US$2.89 billion, nearly equal to the total figure of US$2.92 billion in the entire last year. SSC’s chairman Tran Van Dung said that the number is a good sign compared to the current situation of capital withdrawal from other Asian markets. From the beginning of the year, foreign investors have withdrawn from seven Asian markets including South Korea, Thailand, Indonesia, the Philippines, India, Taiwan and Malaysia with a total value of US$27.34 billion. As of October 9, the value of … [Read more...] about Vietnam continues to see net foreign inflows despite global volatility
FDI in Vietnam according to pundits, illustration photo Shim Won Hwan - President, Samsung Vietnam In 2008, Samsung began the construction of the Samsung Electronics Vietnam (SEV) factory in Bac Ninh. This was the first project of Samsung’s grand investment plan to turn Vietnam into the corporation’s global manufacturing hub. After 10 years, going from the initial investment of $670 million for the SEV factory, Samsung is currently the top foreign investor in Vietnam with the total investment of $17.3 billion, with six factories in Bac Ninh, Thai Nguyen, and Ho Chi Minh City, creating 160,000 jobs. By June 2018, Samsung had produced one billion hi-tech mobile products in Vietnam, including smartphones, tablets, smart watches, and feature phones. In the future, Samsung will work towards maintaining our growth in Vietnam and contributing to the country’s total export turnover as well as developing the Vietnamese economy. We also plan to start producing 5G network … [Read more...] about FDI in Vietnam according to pundits
Traveler's Guide What to do at weekend Hoang The Phong Thursday, Jul 13, 2017,21:04 (GMT+7) What to do at weekendHoang The Phong Foreign tourists buy grilled skewers at a weekend bazaar in District 1, HCMC last week - PHOTO: NGUYEN QUY Those bored with hanging out with friends at traditional coffee shops and restaurants at weekend should check out the following destinations for shopping, entertainment and relaxation. Lotte Cinema Cong Hoa (Pico Plaza, 20 Cong Hoa Street, Ward 12 Tan Binh District) Film-lovers can go to Lotte Cinema Cong Hoa on the fourth floor of the Pico Plaza to watch the movie “Co gai den tu hom qua” (The girl from July 12) directed by Phan Gia Nhat Linh which will be screened at 5 p.m., 7.20 p.m. and 9.40 p.m. this Saturday. The film adapted from a novel of the same name by famous Vietnamese writer Nguyen Nhat Anh tells a story about high school crushes and childhood innocence. The film … [Read more...] about What to do at weekend
VietNamNet Bridge - The government needs to continue its efforts to reform the business environment in order to have more billionaires, experts say. Chair of Hoa Phat Group Tran Dinh Long Four Vietnamese are on Forbes’ 2018 list of the world’s billionaires. These include two familiar names – Pham Nhat Vuong and Nguyen Thi Phuong Thao, and two new names – Tran Ba Duong, chair of Truong Hai Automobile and Tran Dinh Long, chair of Hoa Phat Group. Four Vietnamese are on Forbes’ 2018 list of the world’s billionaires. These include two familiar names – Pham Nhat Vuong and Nguyen Thi Phuong Thao, and two new names – Tran Ba Duong, chair of Truong Hai Automobile and Tran Dinh Long, chair of Hoa Phat Group. Dang Dinh Dao, former head of the Institute for Economic & Development Studies, said the appearance of billionaires reflects the country’s high and stable economic growth in recent years. RELATED NEWS Tran Dinh … [Read more...] about What does Vietnam need to do to produce more billionaires?