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Vietnam’s royal city seeks private investment for tourism complex

Vietnam’s royal city seeks private investment for tourism complex

Hue is calling on private businesses to invest in a commercial tourism complex with hotels, food courts and parks. The city in central Vietnam has approved a plan to build the complex on an area of 23 hectares (56.8 acres) on its outskirts. The complex will uplift an existing residential area that is home to […]

Japanese retail giant to open first supermarket in Vietnam

Japanese retail giant to open first supermarket in Vietnam

Sumitomo Corp. will open its first supermarket in Vietnam this month, targeting increasingly well-off middle-class consumers. Fujimart Vietnam Retail, a joint venture between Sumitomo and Vietnam’s BRG Group, has announced it will open its first supermarket in Hanoi by the end of this year. The corporation also plans to open two outlets in the capital […]

South Korea’s Kookmin Bank licensed to open Vietnam branch

South Korea’s Kookmin Bank licensed to open Vietnam branch

The State Bank of Vietnam has licensed South Korea’s Kookmin Bank to open a branch in Hanoi, the government said on Tuesday. The branch has a chartered capital of $35 million and the contract runs for 99 years, the government said in a statement. South Korea is the largest source of foreign direct investment in […]

Number of Chinese buying high-end Saigon apartments skyrockets

Number of Chinese buying high-end Saigon apartments skyrockets

Attractive prices and returns have seen the number of Chinese customers buying high-end apartments in HCMC soar this year. Duong Thuy Dung, senior director of real estate market research firm CBRE Vietnam, said at a recent forum that 31 percent of high-end apartment buyers in HCMC in the first nine months were Chinese. This figure […]