HCM City: nearly 6 bln USD for Sai Gon Peninsula project
The Van Thinh Phat Investment Group has signed an investment cooperation agreement with Malaysian investors Pavilion Group and Genting Group to develop a park and housing complex in Ho Chi Minh City.
HCM City (VNA) – The Van Thinh Phat Investment Group (VTP Group) on August 3 signed an investment cooperation agreement with Malaysian investors Pavilion Group and Genting Group to develop a park and housing complex in Ho Chi Minh City.
The Saigon Peninsula project will be constructed on an area of 118 ha in District 7 with a total investment of around 6 billion USD.
It will comprise a park, office blocks, high-quality villa and apartment areas, and hotels among other technical infrastructure facilities.
Investors hope to turn the projects into a centre for unique architecture and green spaces.
Under the deal, Pavilion Group - a world class property developer, will be responsible for outlining a master plan for the project and building key works including a retail shopping centre, a five-star hotel, high-quality villa and apartment areas and office buildings.
Meanwhile, Genting Group will be involved in building a port to serve 200,000 Gross Tonnage (GRT) cruise ships, which will be the biggest passenger port in Vietnam when it becomes operational.
The project is expected to help promote Vietnam’s tourism sector, generate about 30,000 jobs for locals, and attract more investors to the city.
Another two of the Korean leading E&C companies, Posco E&C and Hyundai E&C are ready to participate as an EPC contractor on this project.
💃 Apart from Saigon Peninsula, Pavilion Group and Genting Group are also considering participation in other big projects in HCM City, especially in urban infrastructure development.-VNA
Ho Chi Minh City hopes to welcome a new wave of Malaysian investors, especially following the formation of the ASEAN Community and the conclusion of the Trans-Pacific Partnership (TPP).
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.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
At the signing ceremony (Photo: VNA)
