Want to be in the loop?
subscribe to
our notification
Business News
KINH BAC IN SEARCH OF FOREIGN PARTNERS
All these funds are operating mostly in Asian countries and are keenly interested in Vietnam’s market.
“By inviting foreign partners to co-invest in our project, Kinh Bac could balance both short- and long-term benefits,” Tam said, adding that apart from the traditional business of industrial leasing, Kinh Bac still had a large fund of residential land and this could be used to entice more foreign investors with a wealth of financial management experience.
Kinh Bac now owns 600 hectares of cleared land in the northern port city of Haiphong. Tam plans to either transfer part of this land to other investors, or develop housing projects here.
“2016 is the right time for housing development, so Kinh Bac will reserve a fund of land for this purpose,” he said.
Kinh Bac has a total of 4,500ha earmarked for industrial zoning, and another 1,300ha for residential development nationwide. With more than ten years of experience in the real estate market, Kinh Bac’s portfolio features a wide range of development projects, including industrial zones in Que Vo in Bac Ninh, Trang Cat and Trang Due in Haiphong, Quang Chau in the northern province of Bac Giang, and residential areas in Phuc Ninh and Quang Chau in Bac Giang.
Kinh Bac is also the owner of a 6-star hotel, office, and trading centre complex in Hanoi’s My Dinh area. Five years ago, Kinh Bac assumed control of the Diamond Rice Flower complex from a Japanese investor who could not implement it. Although the company has plans to invest $1 billion into this project, so far the site remains a vacant plot littered with broken glass. As of April 2016, Kinh Bac had disbursed VND119 billion ($5.6 million) in the development of this project. However, this has remained frozen for the last four years.
Source: VIR
Related News
![Card image cap](/uploads/news/Investment6.jpg)
VIETNAM ONE OF FASTEST-GROWING E-COMMERCE MARKETS IN SOUTHEAST ASIA
The report released on July 16 highlighted that the total GMV of Southeast Asia’s eight leading e-commerce platforms rose to $114.6 billion in 2023, up 15 per cent from 2022. The key drivers for the region's e-commerce GMV expansion in 2023 are Vietnam and Thailand, growing 52.9 per cent and 34.1 per cent on-year, respectively.
![Card image cap](/uploads/news/Industrial%20Zone.jpg)
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).
![Card image cap](/uploads/news/eco2.jpg)
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.
![Card image cap](/uploads/news/Security.jpg)
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
![Card image cap](/uploads/news/bn-01.jpg)
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
![Card image cap](/uploads/news/Eco3%20%281%29.jpg)
CAPITAL FLOWS STRONGLY INTO INDUSTRIAL REAL ESTATE
Industrial real estate has had easier access to bank credit since July, when the State Bank of Vietnam (SBV) reduced the credit risk coefficient for industrial real estate from 200 per cent to 160 per cent, encouraging commercial banks to lend to more projects in the segment.