Two local firms get approval for gold mining By Tran Duc - The Saigon Times Daily QUANG NAM - SSG Mineral Joint Stock Company and Thai Thanh Co. Ltd. have got the nod from the authorities of Quang Nam Province to tap gold in mountainous districts, said the Department of Planning and Investment. Mineral reserves are estimated at about 130,000 tons of ores, or 215 kg of gold. Meanwhile, Thai Thanh will extract gold at an 11-hectare area around Song Tranh 2 hydropower plant in Bac Tra My District's Tra Bui Commune until February 2010. Luu Van Nam, an expert at the Department of Planning and Investment, said the licensing of the two companies would help to crack down on illegal gold mining in these areas. … [Read more...] about Two local firms get approval for gold mining
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Getting approval for 4-5 star resorts takes up to 14 years, investor says
VietNamNet Bridge – An investor would need 14 years to fulfill necessary procedures to open a resort with 300 four- to five-star rooms covering an area of 10 hectares, according to Than Thanh Vu, deputy chair of the Vietnam Tourism Real Estate Association, who is now managing director of Phu Quoc Land, a real estate estate firm. He said he had come to the conclusion after summarizing his 13-year business experience and analyzing the stories of members in the association. According to Vu, after deciding to develop a project, an investor would need 63 months to learn about land prices and estimate the expenses on site clearance. In order to develop a resort with this scale, he would have to fulfill 44 major groups of works, and to fulfill at least half, he would have to get approval from local authorities and competent agencies. The “authorities and competent agencies” the businessman mentioned include 12 agencies, from provincial communist party committees and … [Read more...] about Getting approval for 4-5 star resorts takes up to 14 years, investor says
MHB gets approval to go public
MHB gets approval to go public By Thuy Trieu - The Saigon Times Daily HCMC – The Prime Minister has signed a decision allowing the State-owned Mekong Housing Bank (MHB) to go public under which the State stake in the bank will be maintained while shares will be issued to spur its chartered capital. The State Bank of Vietnam says on its website that it will represent the State to hold a controlling 68.1% stake in the HCMC-headquartered Mekong Housing Bank, which currently has total chartered capital of VND4.52 trillion, while the remaining stake of 31.9% will be sold to outsiders. Some 14.34% of the shares will be auctioned, while the bank’s staff can buy a 0.56% stake at a preferential price, and a 15% stake will be offered to strategic investors. Shares totaling 2% will be sold to the bank’s Labor Union. The central bank will decide the starting price for the share auction, and instruct the bank to look for strategic investors. The new joint-stock bank once in … [Read more...] about MHB gets approval to go public
Hoang Anh Gia Lai Group Gets Approval for US$16.2-Mln Hospital
Hoang Anh Gia Lai Group Gets Approval for US$16.2-Mln Hospital Hoang Anh Gia Lai Group has received the green light from the People’s Committee of Central Highlands Gia Lai province to build a VND260 billion (US$16.25 million) hospital in the province, the local Youth newspaper said Thursday. The Hoang Anh Gia Lai Hospital, the first private project in the province, will include 200 modern sick-beds. It will be located in Le Duan Street, Pleiku city. The hospital project in Gia Lai marks a new investment area of the property developer which is now developing more than 20 luxury apartment projects in big cities. It also owns hotels and resorts, five furniture and granite processing plants, 20,000 hectares rubber in southern provinces and Laos, two iron ores and one brass ore. The group earned pretax profit of VND870 billion (US$54.4 million) in 2007, higher than the expected level of VND804 billion. (Youth) more news … [Read more...] about Hoang Anh Gia Lai Group Gets Approval for US$16.2-Mln Hospital
VSIP Nghe An gets approval
VSIP Nghe An gets approval Quoc Hung By Quoc Hung - The Saigon Times Daily HCMC – Vietnam Singapore Industrial Park Joint Venture Co. Ltd. (VSIP JV) on June 30 received an investment certificate to develop an integrated township and industrial park in Nghe An Province. The 750-hectare VSIP Nghe An will be developed in phases in tandem with demand. VSIP JV got approval for phase one which comprises of 198 hectares of industrial land and 81 hectares of commercial and residential land. The phase-one investment cost is around US$15.2 million. VSIP Nghe An’s target customers are in the apparel, agricultural and fast moving consumer goods (FMCG) sectors. Early last month, the Government permitted Nghe An Province to use over 490 hectares under paddy farming for an industrial and service project. As VSIP Nghe An is located in Dong Nam Nghe An Economic Zone, incentives provided by the Government for the special economic zone will apply to all tenants. The project will be … [Read more...] about VSIP Nghe An gets approval