Latest news with #TuoiTre
The Star
4 days ago
- Business
- The Star
HCM City launches sixth cashless day programme
Cashless Day 2025, which will run from now to July, is aimed at promoting smart payment solutions and national digital transformation. — HCM CITY: 'Non-cash payment is not just a transaction method but a strategic foundation connecting all components of the digital economy,' an official from State Bank of Vietnam's payments department told the media during the launch of HCM City's Cashless Day programme. The programme, with the theme "Cashless Payment for Digital Economy Promotion," seeks to encourage non-cash payment adoption, enable a sustainable cashless ecosystem and contribute to digital transformation in the country. The event will run until July with game shows, workshops and shopping promotions. A highlight is the "Ting Ting Day" festival on Nguyen Hue pedestrian square in District 1 on June 6, showcasing payment technology experiences, mini-games, workshops, and digital transaction security solutions. The programme is expected to draw 50,000 people and over 50 million online transactions. According to the central bank's payments department, non-cash payments were worth VNĐ295.2 quadrillion in 2024, or 26 times the country's GDP. By the end of last year, 86.97 per cent of people aged 15 and above had bank accounts. In the first quarter of this year, non-cash transactions increased by 44.43 per cent year-on-year. Nearly 10.4 million mobile-money accounts exist, almost a third in rural, remote and island areas. As of March, the country had 30.27 million active e-wallets with over VNĐ2.8 trillion and 47 e-wallet providers. The event was organised by the State Bank of Vietnam, Tuoi Tre (Youth) newspaper, the HCM City Department of Industry and Trade, and National Payment Corporation of Vietnam. — Vietnam News/ANN
New Straits Times
21-05-2025
- Business
- New Straits Times
Trump Organisation eyes new tower in Vietnam, local authorities say
HANOI: US President Donald Trump's real estate company is seeking to build a tower in Ho Chi Minh City, Vietnamese officials said on Tuesday, with his son due to scout locations this week. Authorities in Vietnam's southern business hub said in a statement they met a representative of the Trump Organisation and its local partner, the Kinhbac City Development Corporation (KBC). The statement said authorities had already conducted a field survey of two potential locations in the eastern part of the city on Monday and are scheduled to meet leaders of the Trump Organisation on Thursday. The company, which builds luxury developments around the world, has come under scrutiny, with critics accusing Trump of leveraging his political position for personal financial gain. The state-controlled Tuoi Tre newspaper said the organisation's senior vice-president Eric Trump, the US president's second son, would lead the visit. It also said the delegation would visit a proposed location for "Trump Tower." The Trump Organisation did not respond immediately to AFP's request for comment. Tuoi Tre said Eric Trump would also attend a ground-breaking ceremony on Wednesday for a US$1.5 billion luxury resort and golf course developed by the Trump Organisation and KBC. The 990-hectare golf complex in northern Hung Yen province outside Hanoi will feature a 54-hole course and residential villas, the newspaper said. Project director Charles Boyd-Bowman said in a meeting with Vietnam's Prime Minister Pham Minh Chinh in March that his group aimed to finish the golf resort in March 2027, before Vietnam hosts the Asia-Pacific Economic Cooperation (APEC) summit. Vietnam and the United States are engaged in trade talks after President Trump threatened a 46 per cent levy on Vietnamese goods as part of his global tariff blitz. Trump visited the Vietnamese capital in 2019 for his abortive second summit with North Korean leader Kim Jong Un. He described Hanoi at the time as an "incredible city", praising Vietnam for "the job they've done – economic development."
The Star
17-05-2025
- Business
- The Star
North-south mega rail project taking shape
The nation's biggest conglomerate, Vingroup, said it had submitted a proposal to build the country's multi-billion-dollar high-speed railway from Hanoi to Ho Chi Minh City, with state media reporting the government had welcomed the plan. The project – which was slated to cost US$67bil when it was approved in November – is a much-needed boost to infrastructure that is expected to drive growth and enhance Vietnam's reputation among foreign investors. The line will stretch more than 1,500km from the capital in the north, to the country's business hub in the south, and reduce the current journey time by rail from 30 hours to around five. Vingroup confirmed yesterday that they had submitted a proposal to the government to build the line. In a press statement, Vinspeed, a newly established company as part of the Vingroup empire, said the project would cost US$61bil (RM261.2bil), and would start in December and be finished by 2030 – five years ahead of the schedule set out last year. Following a meeting on May 12, various ministries and agencies largely welcomed and supported Vingroup's proposal, according to state-controlled newspaper Tuoi Tre. Vietnam has one of the lowest expressway densities in the region, although the country is pushing to expand it, and road transport costs are among the highest. The country has been an increasingly favoured destination for foreign businesses looking for an alternative to China, but low-quality infrastructure is seen as holding back surging investment. — AFP
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
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, state-run Tuoi Tre newspaper reported on Friday.
