Singaporean Genesis Global Capital and Phuc Khang Corp signed an agreement on November 1 to develop a green residential building project in Ho Chi Minh City.
Singaporean Genesis Global Capital and Phuc Khang Corp signed an agreement on November 1 to develop a green residential building project in Ho Chi Minh City.
Under the agreement, the fund bought 30 percent of the Diamond Lotus project, worth 300 million USD, and would lend it over a period of six years, said Phuc Khang Corp Chairman Tran Tam.
The company is investing in construction of residential and urban areas on 1,000 hectares. In 2016, it plans to provide 3,000 environmentally friendly apartments that meet US standards in the central districts.
Ng Chuan Kai, director of Genesis Global Capital, highlighted the city’s potential for international integration and incentives Vietnam has offered to foreign investors.
Vu Xuan Thien from the Ministry of Construction said the agreement marks the first long-term retail deal between a local enterprise and an international investor.
Diamond Lotus, which cost nearly 1.27 trillion VND (56.6 million USD) and meets the US’s LEED standards, is located on 1.68 hectares on Le Quang Kim Street in District 8.
It has three apartment buildings and a 500-sq-metre garden on the roof.-VNA
Vietnam, especially Ho Chi Minh City, is a leading investment destination for Singaporean businesses. Singapore’s Consul General in Ho Chi Minh City Leow Siu Lin revealed the news during a ceremony held in the city on August 1 to mark the 40 th anniversary of diplomatic ties between the two countries.
Singapore led foreign investors in Ho Chi Minh City in the first months of this year, according to a municipal official at a recent Vietnam-Singapore business forum.
The PM outlined a dual strategy: revitalising traditional growth engines of investment, exports, and consumption, while accelerating breakthroughs in sci-tech, innovation, digital transformation, and green transition.
The complex, covering a total area of 512 ha, is designed after a multi-functional model, prioritising the preservation of natural landscapes, honouring local beauty, and creating an ideal living area.
He requested delegates to provide objective and honest feedback on what has been achieved, what has not, the consequences, and draw lessons learned for the future. He also emphasised the need to identify key directions and tasks, with a firm resolve to prevent, and eventually eliminate the trafficking of counterfeit medicines and fake food products.
The Ministry of Finance is drafting policies to establish specialised AI and smart industrial parks to raise the technological profile of FDI projects and create spillover effects for local businesses.
Vietnam ranked as the 8th largest export market of Singapore with an export turnover of more than 11.7 billion SGD (9.06 billion USD) in the first five months of this year, four places higher than that of the same period last year.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
At the signing ceremony (Source: tienphong)
