Vietnam 

Kiên Giang gets Ministry of Construction nod to delay special economic zone plans – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HCM CITY — The Ministry of Construction has green-lighted Kiên Giang Province’s proposal to suspend the master plan to develop Phú Quốc Island into a special administrative-economic zone (SEZ). In a report to the Government Office, the ministry said: “Right now is not the right time to establish a master plan to develop Phú Quốc Island into an SEZ due to lack of provisions in the current laws on planning [to set up a special economic unit].” But as a long-term development strategy, it said the province should draft…

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Vietnam 

Provinces, experts call for allowing private capital in power grid construction – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

 Power transmission systems in some localities are overloaded after a number of renewable energy projects linked up. Experts have called on the Government to allow private investors to instal transmission systems. — Photo moitruong24h.vn HCM CITY — With power transmission lines and sub-stations getting overloaded in some provinces, authorities and experts have urged the Government to allow renewable energy investors to install transmission systems and transfer them to the Vietnam Electricity (EVN) for operation. Transmission lines, especially in Ninh Thuận and Bình Thuận provinces, have become overloaded after several renewable…

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Donald Trump and Xi Jinping are both in the construction business – one builds infrastructure, the other builds barriers

China’s President Xi Jinping and his American counterpart Donald Trump can both be said to be in the “construction” business. Xi builds bridges (and also roads) via China’s Belt and Road Initiative while Trump builds barriers via tariffs or even physical walls at the Mexican border. The Chinese approach is “constructive,” in the literal and figurative sense of that term, while the Trump administration’s is destructive, in the sense of damaging world trade and threatening to precipitate a global… Source link

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Vietnam 

Ministry of Construction urges strengthening of anti-money laundering in realty – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

HÀ NỘI — The Ministry of Construction has recently requested its department in cities and provinces urge enterprises in the real estate sector to report suspicious transactions and cash transactions worth VNĐ300 million (nearly US$13,000) and above. This is in line with the ministry’s strengthened efforts to prevent money laundering and terrorist financing. The international Financial Action Task Force (FATF) has recognised the real estate sector as a high-risk sector for money laundering due to the high value of assets, high proportion of cash transactions, price fluctuation and…

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Influx of Chinese business travellers, investors to Cambodia drives construction boom

Cambodia’s economy has seen an influx of business investors from China, which has driven demand for housing and hospitality services in the Southeast Asian nation.Two million Chinese visited the country last year, an increase of around 67 per cent from 2017. They represented the largest overseas group, about a third of international arrivals. Nearly a quarter of them came for business, according to the World Bank.“The business environment being favourable, combined with a stable political… Source link

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Vietnam 

Bamboo Airways starts construction of aviation training centre – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The groundbreaking ceremony for the Bamboo Airways aviation academy in the central province of Bình Định. — VNS Photo  BÌNH ĐỊNH — Bamboo Airways, a subsidiary of real estate developer FLC Group, began construction of an aviation academy in the central province of Bình Định on Sunday. Covering an area of 10ha, the VNĐ700 billion (US$30 million) project is located at Nhơn Hội Economic Zone in Quy Nhơn City. It is scheduled to be operational in 2022, and will train nearly 3,500 students per year as pilots, flight attendants, technicians, ground service…

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Vietnam 

Construction firm Coteccons prepares for revenue and profit to fall – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  CTD share closed Thursday down 1.33 per cent to end at VNĐ111,000 per share. — Photo cafef.vn HÀ NỘI — The construction conglomerate Coteccons Construction Joint Stock Company (Coteccons) expects its year revenue to fall 5 per cent year-on-year to VNĐ27 trillion (US$1.2 billion) this year. The company expects profit to decrease by 14 per cent against 2018, at VNĐ1.3 trillion. In the second quarter of 2019, Coteccons’s net revenue hit VNĐ5.8 trillion, down 30 per cent over the same period last year. Cost of goods sold accounted for nearly…

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Construction of South Korea’s central bank building to face further delays

The construction of the Bank of Korea (BOK)’s new head office won’t start in the near future due to a legal issue between the procurement office and bidding builders, the central bank said on Sunday.Due to the delay in building the central bank’s new headquarters, the BOK will spend more taxpayers’ money to rent its temporary offices than previously estimated.According to the BOK, the Seoul Central District Court ruled Thursday in favour of Kyeryong Construction Industrial’s injunction… Source link

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Vietnam 

Bình Phước starts construction of inland container depot – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Representatives attend the groundbreaking ceremony for the ICD Hoa Lư international inland container depot. — VNA/VNS Photo HÀ NỘI — The People’s Committee of the southern province of Bình Phước held a groundbreaking ceremony on Thursday for the ICD Hoa Lư international inland container depot in Lộc Hòa Commune, Lộc Ninh District. The project is funded by ICD Hoa Lư Co Ltd with a total investment of VNĐ379 billion (US$16.3 million) and will be built in two phases. In the first phase, the port is designed to handle 200,000-500,000 containers per year.…

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Vietnam 

CIty seeks ways to speed up construction of HCM City–Mộc Bài Highway – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The HCM City – Mộc Bài Highway project is expected to reduce traffic on National Highway 22, which is the only road connecting HCM City and Tây Ninh Province. VNS Photo Văn Châu HCM CITY – The authorities of HCM City and Tây Ninh Province are building shopping malls and service facilities along the HCM City – Mộc Bài Highway to raise revenue for construction of the highway. On Monday, the authorities in both localities agreed to clear land at the intersection of Ring Road No 3 and No 4 to build parking lots, shopping…

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