Wednesday, October 15, 2008

Bo Y International Border Gate EZ attracts more investors

A total of 54 investors have registered to invest nearly 11trillion VND (687.5 million USD) into the Bo Y international border gate economic zone (EZ) in the Central Highlands Kon Tum province.

The Bo Y EZ's management board said the investment focused on urban development, industrial production, tourism, banking and bonded warehouses.

The EZ's management board has granted investment licences to eight domestic investors with a registered capital of 1.5 trillion VND. Assessment is underway for 15 other projects by domestic and foreign investors with a combined capital of nearly 9 trillion VND.

At present, 14 projects have been allocated land, construction has started on nine of them.

Source: www.vnanet.vn

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Thai tourists travel to Vietnam via Bo Y border-gate

Thai tourists travel to Vietnam, the Vietnam National Administration of Tourism has permitted Dalat Tourist to welcome the first group of Thai visitors to come to Vietnam by car via the Bo Y border gate in the Central Highlands province of Kontum on June 16.


According to Le Tuan, director of Dalat Tourist’s Da Nang branch, previously Thai visitors coming to Vietnam by car entered Vietnam through the Lao Bao border gate in the central province of Quang Tri and left Vietnam through the Bo Y border gate.

Thai tourists travel to Vietnam, this time 30 Thai visitors in 12 cars will pass through the Bo Y border gate and travel on the Ho Chi Minh Highway to Ho Chi Minh City, Da Nang city, Hoi An town, Hue city and Quang Tri province and then leave Vietnam through the Lao Bao border gate.
This is the first time Thai visitors have travelled by car on the legendary road of Ho Chi Minh, Mr Tuan said.

Source: Tuoi Tre Online

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Bo Y Int'l Border Gate EZ attracts US$1.3 billion in investment

VNECONOMY updated: 30/08/2006

The Bo Y international border gate economic zone (EZ) in the Central Highlands province of Kon Tum has so far lured over VND20.6 trillion (US$1.3 billion) worth of both local and foreign investment.

The managing board of the Bo Y border gate economic zone revealed this in a meeting with the provincial authorities.

Of the figure, more than VND1.5 trillion (nearly US$100 million) from six Vietnamese investors, will be poured into such promising sectors as construction of new urban residential areas, construction materials production, free-tax commodity trading and eco-tourism.

The managing board is currently examining a number of projects, with a total registered capital of VND9 trillion (US$562 million), in various fields, including automobile production, garments and textiles, petrol base depots, agro-forestry and seafood processing for exports, as well as construction of an international commercial zone.

As many as 34 businesses are waiting for a license to do business and open representative offices in the economic zone, including 7 projects currently under construction worth VND116 billion (VND7.3 million) and another 18 projects worth over VND10 trillion (US$625 million).


Source: Vietnam Agency

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COUNTRY TO HAVE 30 BORDER GATE ECONOMIC ZONES BY 2020

Ngày 30/5/2008. Cập nhật lúc 17h 54'


Vietnam will build comprehensive infrastructure, management models, mechanisms and policies for nine border gate economic zones, including: Mong Cai, Lao Cai, Lang Son, Treo Bridge, Bo Y, Moc Bai, An Giang, Dong Thap and a special economic commercial zone, namely Lao Bao.

This is part the development plan for the country’s border gate economic zones until 2020, approved by Prime Minister Nguyen Tan Dung.

Under the plan, Vietnam will have 30 border gate economic zones by 2020, raising the total export – import commodity and service turnover via borders with neighboring countries to 42-43 billion USD.

Source: Hanoi Moi

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Twelve projects for Bo Y border zone

Kon Tum (VNA) – The Bo Y Border Gate Economic Zone in the central highland province of Kon Tum has attracted 12 new foreign-invested projects whose total registered capital is 17 billion USD, said Nguyen The Dat, heat of the zone management board.

Among the projects are a 3 billion USD five-star hotel, trade centre, golf course complex and an international airport worth 6 billion USD.

To Date, the board has granted licences to 23 projects worth a total of 685 billion VND (43 billion USD) of which 17 are under construction.


TTA2503.016 State bank says businesses must build brand names
HCM City (VNA) – Businesses as well as banks need a strong brand name to win customers, a state bank official has said.

Le Xuan Nghia, director of the State bank of Vietnam ’s Strategy Department, said commercial banks depended largely on the trust of the public.

“Banking is the sector that uses information technology at a high rate with around 80 percent of its activities computerised. So the IT level will show that it is a modern bank and customers will feel it can be trusted,” said Nghia, speaking at a seminar on brandnames organised yesterday in HCM City by the Vietnam Economics and Trade Promotion Department (Vietrade) of the Ministry of Industry and Trade.

Nghia said banks has a significant and direct effect, “like blood” on the economy.

“An economy can only be strong with a strong banking sector,” he said.

“A weak company has little impact on the economy, but a bank that could lose its liquidity will have an impact on the entire banking system and put the economy in a difficult situation.”

“Banks’ brand names can be the nation’s brandname,” he added.

Senior economist Dr. Le Dang Doanh said that Vietnam , since joining the World Trade Organisation, was enhancing its brandname with high, stable growth and a young, clever and skilled workforce.

Vietnam was a domestic market with potential in a strategic geographic position, he said, adding that the Government was willing to cooperate with businesses.

“ Vietnam ’s exports in areas including tourism, garments, footwear and home electronics have shown that the country is hospitable and friendly for business,” said Doanh.

He said the country should have hi-tech products with an international brandname like that of Toyota of Japan or Samsung of the Republic of Korea .

“ Vietnam should not be satisfied with just the brandname of pho,” he said.

Former Minister of Trade Truong Dinh Tuyen said a national brandname that reflected creativity, high quality and leadership would help attract investment, develop markets in and outside the country, and improve competitiveness and State management. This would lead to rapid but sustainable development, he said

Via:lawyer-vietnam.com

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