Latest news with #TranHongHa
Fibre2Fashion
30-05-2025
- Business
- Fibre2Fashion
Vietnam's deputy PM calls for clear vision for marine economy growth
Vietnamese deputy prime minister Tran Hong Ha recently called for a clear vision on how to grow the marine economy in a sustainable manner, with an effective inter-sectoral, inter-regional and international coordination mechanism. Such a mechanism forms the foundation for integrated resource management, conflict resolution and optimal decision-making among competing marine sectors, he noted. Vietnamese deputy PM Tran Hong Ha has called for a clear vision on how to sustainably grow the marine economy, with a decentralised inter-sectoral, inter-regional and international coordination mechanism. He asked the agriculture and environment ministry to take the lead in this direction. Criteria like environmental efficiency, economic viability and job creation should be the priority, he noted. He was addressing a meeting with ministries and agencies on inter-sectoral coordination mechanisms for the sustainable development of the country's maritime sector. The coordination mechanism must follow the principle of decentralisation, only issues that truly require central-level coordination should be retained at the national level, with the rest delegated to local bodies, he was cited as saying by domestic media outlet. He asked the ministry of agriculture and environment (MoAE) to take the lead in this direction. Criteria like environmental efficiency, economic viability and job creation should be the priority, he noted. The ministry was tasked with developing decision-support tools for analysing and handling inter-sectoral conflicts, and establishing a coordination mechanism for marine environmental surveys and resource assessments to support the implementation of marine economic strategies and plans. It was also urged to urgently review and finalise the operating regulations and scope of the National Steering Committee for the Implementation of the Strategy for Sustainable Marine Economic Development. Of the 169 projects and tasks assigned by the government to ministries and 28 coastal provinces and cities, only 35 are currently under way. This has affected the overall progress and objectives of the national marine strategy. Fibre2Fashion News Desk (DS)
Yahoo
28-05-2025
- Business
- Yahoo
CMA CGM's $600M Vietnam Port Project Reflects ‘Sharp' Container Demand
CMA CGM is strengthening its presence in Vietnam as the southeast Asian country stands to gain a more pivotal role in the global supply chain. The container shipping giant is investing $600 million to build a deep-water terminal complex at Hai Phong Port, which would be CMA CGM's first docking facility in one of Vietnam's northern ports. More from Sourcing Journal BGMEA Seeks 3-Month Delay for India's Land Port Ban on Garment Exports Vietnam Completes Second Round of Trade Talks With U.S. US Ports Warn of $6.7B Bill if 100% Tariff on China-Made Cranes Kicks in CMA CGM has partnered with Saigon Newport Corporation to develop the project, which will have a capacity of 1.9 million 20-foot equivalent units (TEUs) and is scheduled to open in 2028. The agreement covers the design, construction and operation of two terminals in Hai Phong's Lach Huyen area. Vietnam has had more of a spotlight on its role in the apparel supply chain, both as the country seeks to negotiate its way out of a possible 46-percent tariff imposed by President Donald Trump, as well as handling an influx of goods from China. With imports from China escalating 22.5 percent in April and exports to the U.S. growing 34 percent, Vietnam's position is likely to carry more intrigue for logistics and shipping companies seeking to expand into new markets. 'The project is designed to meet the sharp increase in container volumes in northern Vietnam—one of Southeast Asia's fastest-growing economic zones,' CMA CGM said in a statement. 'This partnership will enable CMA CGM to secure long-term capacity in a region that has become central to Asian supply chains due to its rapid industrial and logistics development.' The facility will complement the two other terminals owned by CMA CGM: the Gemalink terminal in Cai Mep and the Vietnam International Container Terminal in Ho Chi Minh City. The ocean carrier operates 29 weekly services across seven ports in the country, as well as the company's intermodal network powered by subsidiary Ceva Logistics. Vietnam is also the backdrop of a zero-emission project CMA CGM is engaging in with partner Nike. By 2026, CMA CGM will launch a 100-percent electric barge, or 'e barge,' that will transport Nike goods along southern Vietnam's Dong Nai River between the Cai Mep and Binh Duong ports. On Tuesday, Vietnam's Deputy Prime Minister Tran Hong Ha held a meeting with CMA CGM CEO Rodolphe Saadé, according to a report from state-run Vietnam News Agency (VNA), in which the representative encouraged the French shipping tycoon to lead the way in green maritime transformation. Recently, CMA CGM has shown little hesitation to throw around capital to expand its influence internationally. In March, Saadé said the company was committing $20 billion to investing in logistics, shipbuilding and supply chain upgrades in the U.S. Under that commitment, the carrier will triple its number of U.S.-flagged ships, as the Trump administration and bipartisan lawmakers have pushed for a reinvigoration of American shipbuilding. Last month, Ceva Logistics acquired Turkish contract logistics and trucking firm Borusan Tedarik for roughly $440 million. That deal, which still needs approval from regulators, includes Borusan Tedarik's subsidiaries in Germany, Bulgaria, Hong Kong and China. Borusan Tedarik operates the largest port in Turkey's manufacturing hub of Gemlik, with an annual capacity to handle 1,500 ships and around 400,000 TEUs. The planned acquisitions would nearly double Ceva's warehousing and distribution footprint in Turkey, adding around 6.1 million square feet to its existing 6.7 million square feet of space. In addition, the combined ground transport activities would make nearly 1 million domestic transports per year, while Ceva's ocean freight capacity in the country set to increase by 25 percent. Last month, CMA CGM also completed the acquisition of cargo airline Air Belgium, including four freighter planes, as the company further builds out its air cargo ambitions. The Air Belgium brand will be preserved as part of the CMA CGM air cargo division launched in 2021, alongside 124 direct jobs out of roughly 400, including 72 pilot roles. Currently, the division operates regular services out of Paris with two Boeing 777F aircraft to Hong Kong and Shanghai and one Airbus A330F to Zhengzhou. CMA CGM also established another air freight hub in Chicago that hosts two Boeing 777F aircraft operated by Atlas Air on routes to Shanghai, Hong Kong and Seoul. CMA CGM operates an air cargo fleet of nine aircraft, including the Air Belgium jets: four Boeing 777Fs, three Airbus A330Fs and two Boeing 747Fs. The fleet will soon be reinforced by an additional Boeing 777F and further expanded from 2027 onward with the arrival of eight Airbus A350Fs. 'It immediately strengthens our air capacity while addressing current logistical challenges,' Damien Mazaudier, executive vice president of the air division at CMA CGM Group, in a statement. 'By preserving skilled jobs and accelerating the development of our network, this operation demonstrates our commitment to our customers and our ability to anticipate market evolutions.' Air Belgium's passenger operations will dissolve upon the sale. 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USA Today
17-05-2025
- Business
- USA Today
While in tariff negotiations, Trump group gets approval for massive golf resort in Vietnam
While in tariff negotiations, Trump group gets approval for massive golf resort in Vietnam As tariffs continue to be negotiated between the United States and various countries, the Trump organization has gotten approval to put $1.5 billion in investments into golf courses, hotels and real estate projects in the Southeast Asian country of Vietnam. According to our partner Reuters, the Vietnamese government approved a plan for a project, planned on nearly 2,500 acres of land, which will feature a complex of golf courses, resorts, hotels, and a modern residential project. Here's more from Reuters: The investment is expected to start this quarter and run until the second quarter of 2029, the newspaper said, citing a document signed by Deputy Prime Minister Tran Hong Ha. Real estate developer Kinhbac Citt, the Vietnamese partner of U.S. President Donald Trump's family business, announced the project in October. The Trump Organization and the Vietnamese government did not immediately respond to requests for comment. The approval comes amid trade negotiations between Vietnam and the United States, as the Southeast Asian country, an industrial hub, seeks to avoid a U.S. import tariff of 46%. In March, Reuters reported that the Trump Organization and its partner were planning up to four golf and hotel projects in Vietnam. The first two courses are expected to be operational by mid-2027. While he's negotiating tariffs, Trump's organization has continued to lobby in its interest at his golf properties. For example, although Trump has been pining to bring an Open Championship back to the Turnberry golf course that his organization owns, he recently received some consolation in that the DP World Tour announced that a dormant event will be resuscitated and played at another of his golf courses in Scotland. According to a release from the DP World Tour, the tournament, which was considered a one-off when it was part of the Race to Dubai back in 2020, will be played Aug. 7-10 at Trump International Golf Links Scotland in Aberdeenshire. The course currently hosts a Legends Tour event, the European equivalent of a PGA Tour Champions tournament.
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Business Standard
16-05-2025
- Business
- Business Standard
Vietnam approves Trump Organisation's $1.5 bn golf and real estate project
Vietnam has approved a $1.5 billion proposal by the Trump Organisation and its Vietnamese partner to build golf courses, hotels and real estate projects in the Southeast Asian country, state-run media reported Friday. The project spanning 990 hectares (2,446 acres) in northern Vietnam's Khoai Chau district will include a golf course the size 336 American football fields, residential areas, commercial spaces and parks. The decision approving the investment was signed by Deputy Prime Minister Tran Hong Ha, the VN Express newspaper reported. Vietnam is heading into negotiations with the US in a bid to avoid the 46% tariffs on its exports announced by President Donald Trump's administration. Vietnam also has been facing heat from Washington for not doing enough to prevent the diversion of Chinese goods through its borders. The investment project was announced by Vietnamese real estate developer Kinhbac City, which partnered with Trump's family business in October. Work on the project will start this year and continue till 2029. The Trump Organisation did not immediately respond to a request for comment Friday. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Yahoo
16-05-2025
- Business
- Yahoo
Vietnam approves $1.5 billion investment plan by Trump Organization and partner
HANOI (Reuters) - Vietnam's government has approved a plan by the Trump Organization and a partner to invest $1.5 billion in golf courses, hotels and real estate projects in the Southeast Asian country, the state-run Tuoi Tre newspaper reported on Friday. The project, planned on 990 hectares (2,446 acres) of land, will feature a complex of golf courses, resorts, hotels, and a modern residential project. The investment is expected to start this quarter and run until the second quarter of 2029, the newspaper said, citing a document signed by Deputy Prime Minister Tran Hong Ha. Real estate developer Kinhbac City, the Vietnamese partner of U.S. President Donald Trump's family business, announced the project in October. The Trump Organization and the Vietnamese government did not immediately respond to requests for comment. The approval comes amid trade negotiations between Vietnam and the United States, as the Southeast Asian country, an industrial hub, seeks to avoid a U.S. import tariff of 46%. In March, Reuters reported that the Trump Organization and its partner were planning up to four golf and hotel projects in Vietnam. The first two courses are expected to be operational by mid-2027. Vietnam, home to approximately 100 million people, has around 70 golf courses and 100,000 local golfers, according to the Vietnam Golf Association. Sign in to access your portfolio
