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Vietnam lacks construction standards for underground car parks

Nguyen Hong Tien, director of the ministry’s Technical Infrastructure Department, told the Daily on Tuesday that the ministry’s progress has been held up by numerous overlapping issues involving various ministries. Tien said, for instance, the Ministry of Transport is responsible for traffic circulation at underground car parks, while the Ministry of Natural Resources and Environment is in charge of land use and the Ministry of Construction oversees underground car park construction.

Domestic steel prices drop substantially

According to Nguyen Tien Nghi, Deputy Chairman of VSA, the main reason for the fall of domestic steel price is the cancellation of public investments and the halt of unnecessary projects. In addition, steel prices the world over have decreased and many investors have cut investments in construction in response to the Government’s policy to minimise inflation.

Capital-thirsty property developers forced to sell

According to Nguyen Hong Phuc, general director of Nha Viet Investment and Construction Joint Stock Company, such changes of ownership were common in the first quarter of this year, though transaction details were often kept secret, especially if sellers were small businesses facing a shortage of capital. Since the second half of 2010, as the real estate market has taken a downturn, there are many such businesses.

Kyocera plans electronic parts factory in Vietnam

Kyocera Corp. President Tetsuo Kuba was quoted as saying at a news conference in Osaka on April 27 that the company will start the construction by the end of this year as it looks to commence the plant’s operations in late 2012. The plant is designed to cover about 400,000 sq. m in Hanoi’s suburb area, to be on a par with Kyocera's largest overseas factory in China.

FPT to kick off construction on Da Nang technology and urban zone soon

It would officially begin construction on FPT Da Nang technology and urban zone (FPT City Da Nang) in Ngu Hanh Son district in the central coastal city of Da Nang on April 29.

Hanoi to spend $13bln on transportation

Hanoi will complete the construction of the two belt roads no. 2 and 3, build a fourth one, upgrade its railway system, and expand existing highways including particular sections of National Highway 1A and 6.

Call to speed highway construction

Deputy Prime Minister Hoang Trung Hai said the project was behind schedule, the rate of disbursement was low and capital sources had not met requirements.

Vietnam’s real GDP growth may reach 6.3 pct: American magazine

The report said that the real GDP growth rate of Vietnam has been higher than expected, reaching 6.8 percent in 2010, mainly due to the performance of the construction sector. Fiscal deficit of Vietnam has reduced from 6.6 percent of GDP in 2009 to 4.7 percent in 2010.

Fund shortage hinders new coach stations

Under the VND3.6 trillion (US$1.8 million) scheme by the city People’s Committee, Suoi Tien and Tan Quy Tay coach stations would have been commissioned by 2015 to replace the two existing Mien Dong and Mien Tay stations. Construction of the two new coach stations, to be invested by the Sai Gon Transportation Mechanical Corporation (SAMCO), is also aimed to create a link with the bus system, and the metro and tram routes.

New bridge opens, celebrates province’s anniversary

Construction of the 1.3 kilometre bridge began in early 2006, costing the local Department of Transport VND477 billion (US$25.8 million).

Construction of thermal power plant begins in Thanh Hoa

Construction of Cong Thanh coal-fueled power plant kicked off on Mar. 5 at the Industrial Park No. 2, Nghi Son Economic Zone, northern central province of Thanh Hoa.

Registered FDI down, disbursement still up

The ministry reported FDI disbursement continued to rise. During the period, about $1.15 billion of FDI has been disbursed, posting a year-on-year increase of 4.5 per cent. Processing and manufacturing industries topped FDI attraction with registered capital of $1.2 billion in the two-month period, followed by construction with $71.7 million and retail and wholesale, $48.8 million.

January FDI plunges to $187.6 mln

The processing and manufacturing sector remained the most attractive area for foreign investors, receiving $70 million, followed by construction with $63.6 million.

Golden Silk urban area construction begins

The construction covers an area of nearly 27 hectares in southwest of the capital. The project, approved by Hanoi Municipal People’s Committee, is scheduled to be completed in 2015.

Construction Ministry plans investment trust

Real estate investment trust (REIT) is a tax designation for a corporate entity investing in real estate that reduces or eliminates corporate income taxes. In return, REITs are required to distribute 90 per cent of their income, which may be taxable, into the hands of investors.


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