Frasers Hospitality opens second property in Hanoi
Vietnam Investment Review
On 28 November 2018 – Frasers Hospitality, a member of Frasers Property Group announced that it will open a new property in Hanoi as well as add a new wing to its first property in Vietnam, Fraser Suites Hanoi, bringing its total inventory in Hanoi to over 670 rooms. Situated opposite the lush green Hoa Binh Park and within proximity of specially zoned high-end residential areas such as Ciputra Hanoi International City and the new diplomatic precinct, Fraser Residence Hanoi offers panoramic views of the park, an extensive range of leisure amenities and a tranquil environment.
Hanoi secures 6.5 billion USD in FDI projects
The capital city of Hanoi has become the most attractive locality for foreign direct investment (FDI) in Vietnam for the first time, with total registered capital estimated at 6.5 billion USD. The information was announced at the 16th conference of the municipal Party Committee, which was held on November 28 to evaluate socio-economic development in 2016-2018. In the three-year period, the city lured nearly 13.25 billion USD in FDI projects, 2.12 times more than 2011-2015 and 48.6 percent of the amount recorded during 1986-2015.
Frasers Hospitality opens second property in Hanoi - Artist's impression of Fraser Residence Hanoi - Dining Area
Hanoi secures 6.5 billion USD in FDI projects - A smart urban area to be developed near Nhat Tan bridge
Vietnam to open up casino gambling to locals
Vietnamese citizens will be permitted to gamble in a casino on Phu Quoc Island in a three-year pilot program expected to start next year, following approval by the central government, according to authorities in Phu Quoc, a popular tourist destination in the southern province of Kien Giang. According to a report on Nikkei, the approval paves the way for other projects, including more casinos and auto and horse racing facilities, to cater to demand for betting entertainment in the country. Leading Vietnamese real estate developer Vingroup’s facilities were chosen as the location for the casino pilot program, as the company is the sole investor and has developed related facilities on the island. The casino, with capital investment of more than $2 billion, is part of an ecotourism and entertainment complex funded by Phu Quoc Tourism Investment and Development, a subsidiary of Vingroup.
Supply chain reaction: trade war refugees race to relocate to Vietnam, Thailand
Experts say this is the biggest shift in cross-border supply chains since China joined the World Trade Organisation in 2001. Fred Perrotta spent four years building a network of Chinese suppliers for his line of trendy backpacks, but as soon as the United States announced tariffs on almost half of its Chinese imports, he started looking for suppliers in other countries. That process is now so far advanced it would be too late to reverse it even if U.S. President Donald Trump and his Chinese counterpart Xi Jinping call a truce in their growing trade war at this week’s G20 summit, the 33-year-old said. Perrotta’s company, Tortuga, is joining what industry experts say is the biggest shift in cross-border supply chains since China joined the World Trade Organisation in 2001. The shift is creating stiff competition to secure new facilities in neighboring countries and rebuild supply chains outside of China, home to a fifth of global manufacturing.