Author: the-shiv

This archive features news articles written by our staff team. To learn more about the-shiv, visit our about page.

Real estate: Lotte pulls out of Vietnam Thu Thiem Eco Smart City project on long delays, soaring costs

Lotte Properties HCMC, a subsidiary of South Korea’s Lotte Group, has moved to terminate its long-delayed Thu Thiem Eco Smart City project in Ho Chi Minh City, VN Express has reported. The city’s Department of Finance confirmed it received a request from the developer on 20 August to end the investment contract, but said the company has yet to complete the legal procedures required.

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Vietnam News Roundup: September 12 to September 18

In this week’s Vietnam News Roundup: US$1.5b of foreign reserves used in August to stabilise dong, banks now face stricter Basel style capital rules, the dong firmed but pressure remains, IMF flagged risks in its Article IV, a new securities decree tightened bond rules, foreign investors sold US$155m in stocks as the VN Index eased, hackers breached the national credit registry exposing citizens’ data and more.

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