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December 19, 2016

Released at: 21:00, 19/12/2016 PRESS WATCH

December 19, 2016

VET's daily round-up of news from Vietnamese media for December 19.

340 EZs and IPs on books

Vietnam had 324 industrial parks spanning 91,800 ha of natural land and 16 economic zones with a total ground and water surface area of 815 ha as at the end of November. Of these, 220 IPs have entered into operations while the construction of 104 others is underway.

First commercial auction house opens in HCMC

Vietnam’s first commercial auction house opened on December 17, with a painting sold for $40,000 at the maiden auction. Held at the Caravelle Saigon Hotel in Ho Chi Minh City, the auction marked the opening of Ly Thi Auction, which is the first fine art auction house in the country.

South Korean exports growing

South Korea’s exports to Vietnam in the first ten months of this year saw a year-on-year increase of 11.8 per cent. The Korea Trade and Investment Promotion Agency (KOTRA) attributed the strong growth to the implementation of the Korea-Vietnam Free Trade Agreement, which was approved late last year.

Ca Mau calls on foreigners to invest in port, tourism projects

Ca Mau province in the Mekong Delta has called on foreigners to invest in sea port, agriculture, industry, trade, tourism, and infrastructure projects, with the most important being the Hon Khoai Seaport Project, which was approved by the Prime Minister and is to be capable of berthing 250,000 DWT vessels with an estimated cost of $3.5 billion.

PM passes $2.5 billion credit for high-tech farming

Prime Minister Nguyen Xuan Phuc reiterated his ambition of developing Vietnam into one of the world’s agricultural powerhouses during a conference held in Ho Chi Minh City on December 18. Responding to requests regarding credit for organic agriculture, the government leader promptly instructed the State Bank of Vietnam to consider a VND50-60 trillion ($2.17-$2.6 billion) preferential credit package designed specifically for high-tech farming.

7-Eleven in Vietnam plans to take over VinMart+

Convenience-store giant 7-Eleven plans to enter Vietnam by taking over VinGroup’s VinMart+ chain. The 7-Eleven Vietnam chain also plans to establish 100 stores in its first three years, with 1,000 outlets within a decade. Its initial store will be in Ho Chi Minh City, scheduled for early next year.

Hanoi, HCMC on world investment market list

According to FDI’s Global Cities of the Future 2016/17, Ho Chi Minh City and Hanoi are in 10th and 17th positions, respectively, among the 25 most FDI-friendly emerging market cities in the world, as voted by Financial Times.

Tuyen Lam expected to be Vietnam’s first national tourist site

The Ministry of Culture, Sports and Tourism will seek the government’s approval for the recognition of Tuyen Lam Lake in Da Lat in the central highlands province of Lam Dong as the country’s first nationally-graded tourist site.

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