Sotherly hotels investor relations

A construction permit currently takes 82 days on average to be issued in Vietnam Vietnamese Prime Minister Nguyen Xuan Phuc has requested that efforts be made to streamline the country’s administrative procedures in construction-related fields. The aim, he stressed, is to reach the average time it takes for such procedures to be done in ASEAN-4, which indicates the four most developed economies in the Association of Southeast Asian Nations. Currently, ASEAN-4 includes Singapore, Malaysia, Thailand, and the Philippines. According to the premier’s directive, which was issued last week, the combined time to go through all construction-related procedures for a single application is to be shortened from 166 days as per current regulations to 120 days. This includes the time it takes to review construction drawings and fire prevention plans, issue construction permits, approve the building’s access to utilities, and grant certificates of property ownership. Relevant … [Read more...] about ​​Vietnam to cut red tape in construction-related administrative procedures

  The Empire Group could not pay annuity for its CocoBay condotel buyers since next year. Photo vneconomy.vn HÀ NỘI – Đà Nẵng authorities need to carefully review the offer to convert the Cocobay Đà Nẵng condotel project into apartments as it could harm the city’s economic development plan, experts have said. The project developer, Thành Đô Investment Development and Construction JSC (Empire Group), had guaranteed to pay 12 per cent profit on the value of investors' condotel purchases from January 1, 2020, but has since announced it cannot fulfil this commitment due to financial woes. Condotels are often sold to investors and then leased back to the developer or an operating firm to manage rentals to holidaymakers, which is where the 12 per cent profit was supposed to come from. A lack of regulations on condotel development and ownership has also harmed the project. The … [Read more...] about Tough decisions for Da Nang over Cocobay project

 Deputy Prime Minister cum Foreign Minister Phạm Bình Minh (r) receives Minister of Foreign Affairs and Co-operation Louise Mushikiwabo of the Republic of Rwanda on Tuesday. — VNA/VNS Photo Lâm Khánh HÀ NỘI — Việt Nam focused on strengthening ties with Rwanda, Deputy Prime Minister cum Foreign Minister Phạm Bình Minh said on Tuesday.  He made the statement at a meeting in Hà Nội with Minister of Foreign Affairs and Co-operation Louise Mushikiwabo of the Republic of Rwanda, who is the first senior Rwandan official to visit Việt Nam in the past 10 years.  At the meeting, the two sides agreed on measures to deepen bilateral relations.  Both officials voiced their support for increasing exchanges of delegations at different levels. They said bilateral people-to-people diplomacy needed to be promoted to boost solidarity and mutual understanding.  Among measures to push … [Read more...] about Việt Nam seeks closer ties with Rwanda, Guinea

  Officers of Cốc Nam Customs Department in Lạng Sơn Province, which shares a border with China, perform a check on imported products. — VNA/VNS Photo Hoàng Hùng HÀ NỘI — Economic and trade relations between Việt Nam and China have been developing in a positive direction, as shown by the continuous increase of bilateral trade turnover between the two countries. Việt Nam is fast becoming an attractive investment destination for Chinese enterprises. According to the Foreign Investment Agency under the Ministry of Planning and Investment, China invested about US$1.6 billion in Việt Nam in the first fourth months of this year, making it the country’s fourth largest source of foreign investment. Several large projects were funded by Chinese investors in the period including a tire manufacturing project with total registered capital of $280 million in the southern province of Tây Ninh and another tire … [Read more...] about Việt Nam, China trade ties continue to develop

Ahamove drivers protesting the company's policies in January Only several days ago, CEO Nguyen Vu Duc and the deputy CEO of Go-Viet also quit over uncertainties with their legal status and their relation to Go-Jek, as it is uncertain whether Go-Viet is an Indonesian company with Go-Jek as the parent company or whether Go-Jek is just an investor/shareholder. Similarly, Ahamove, the on-demand delivery startup developed by Scommerce, has replaced several senior leaders, letting go CEO Nguyen Xuan Truong among others who were disagreeing with the company’s strategy and development plan. Chief technology officer (CTO) Pham Huu Ngon will be the new CEO of Ahamove. Ngon is an IT engineer and rather well-known in tech startup circles. If in multi-national corporations the CFO (chief finance officer) is the person to usually succeed the CEO, it is reasonable for the CEO position to be ceded to the CTO at technology companies. Ahamove is a project of Scommerce Group founded by Luong Duy … [Read more...] about Ride-hailing and delivery companies lose ground to Grab