Work on Thu Thiem urban area’s smart complex to start in Sep
Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong and CEO of Lotte Asset Development Lee Kwang Young have agreed to start construction of a smart complex in the city’s Thu Thiem New Urban Area on September 2.
CEO of Lotte Asset Development Lee Kwang Young presents the planning of the smart complex in Ho Chi Minh City's Thu Thiem New Urban Area to Chairman of the municipal People's Committee Nguyen Thanh Phong. (Photo: VNA)
HCM City (VNA) – Chairman of the Ho Chi Minh City People’sCommittee Nguyen Thanh Phong and CEO of Lotte Asset Development Lee Kwang Younghave agreed to start construction of a smart complex in the city’s Thu ThiemNew Urban Area on September 2.
The city selected Lotte Asset Development, a member of the Lotte Groupfrom the Republic of Korea as the investor of the project last year.
The Lotte Group is aware of the significance of the project so its teamis working around the clock to complete the project planning this month, Leetold Phong during their meeting in the city on April 16.
The Thu Thiem New Urban Area is located on the banks of the Sai GonRiver so its ground foundation is quite weak, he noted, saying that Lotte wantsto solidify the ground before anything else.
Phong, for his part, said Ho Chi Minh City aims to turn the Thu Thiemurban area into a multifunctionalfinance-trade-service and residential centre, so the smart complex will applyinformation technology in management and residential services.
He added the city will consider allowingthe Lotte Group to improve the solidity of the ground before it gets investmentpermits and will support the firm in finishing all public administrative proceduresfor the project so that it can be kicked off on September 2.
The smart complex project, covering 7.54 hectares, is set to cost 20.1 trillion VND (nearly885.5 million USD), excluding compensation and site clearance expenses.
Roads and infrastructure inside the complex andconnecting with other areas in Thu Thiem will also be constructed under theproject.
The project is scheduled to be carried out in 72months following the approval of the investor and will be operated for 50 yearsby Lotte.
Thu Thiem New Urban Area is located on the eastof the Sai Gon River, facing District 1, with a total area of 657 hectares. Itis expected to be a new centre of finance, commerce and services, along withculture and entertainment in HCM City.-VNA
A project to turn Vietnam’s southern largest economic hub of Ho Chi Minh City into a smart city in 2017 -2020 was approved and publicly announced on November 26.
All districts will be expected to develop a “smart urban area” plan by 2020, said Tran Vinh Tuyen, Vice Chairman of the HCM People’s Committee, who is also head of the smart city management board.
An international workshop was held in Ho Chi Minh City on April 12 to discuss the development of an “innovation urban area” in the southern metropolis.
Prime Minister Nguyen Xuan Phuc has underlined the Government’s determination to speed up the progress of Ho Chi Minh City’s metro project to serve the city’s development, reduce traffic congestions and effectively use capital.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
CEO of Lotte Asset Development Lee Kwang Young presents the planning of the smart complex in Ho Chi Minh City's Thu Thiem New Urban Area to Chairman of the municipal People's Committee Nguyen Thanh Phong. (Photo: VNA)
