Economy and commerce
Investment
US$265 million for smart traffic operation centre in HCM City
A smart traffic operation centre in HCM City will receive an investment of VNĐ6 trillion (US$265 million) from 2017 to 2020, the city’s Department of Transport has said. In the first phase of the project, about VNĐ250 billion ($11 million) will be allocated to upgrade ...
Holidays see record tourists
Cambodia’s top tourist destinations recorded a record number of visitors this Khmer New Year, with 2.5 million locals and foreigners traveling to celebrate the festival around the country. A Tourist Ministry report said Siem Reap province welcomed almost 1.7 million tourists, up 23 percent from last ...
White Building families agree to price drop
About 85 percent of 493 families being asked to sell their White Building homes have dropped their asking price to $1,800 per square meter, but insist they will not negotiate any lower. The agreement came at a meeting of about 100 people at the White Building ...
Asianface director reportedly involved in business fraud in Cambodia
Investors in an allegedly fraudulent scheme offered by the Asian Face company are increasingly concerned after the involvement of its operator in similar activities in his home country were revealed. Currently in police custody in Laos over his Asian Face Company Ltd’s alleged illegal capital ...
Caffeine high as Laos tops South-East Asia's coffee producer rankings
Laos is riding high as largest coffee exporter in ASEAN followed by Vietnam in second place and Thailand third according to figures compiled by the Lao Ministry of Planning and Investment. Coffee is among Laos top export income earners in terms of agricultural commodities, earning ...
Tourism sector looking to boost its capacity
The engagement of local authorities and investments will help the government boost the number of foreign travellers over the years to come, reports a senior tourism official. Deputy Director General of Tourism Development Department under the Ministry Information, Culture and Tourism Ms Phonemaly Inthaphom told ...
Govt warned to manage growing debt
Economists have warned the government needs a long-term strategy for managing its burgeoning debt against obligations while it works on securing more efficient and additional revenue sources. At the moment, Laos requires 1,559 billion kip to meet its budget expenditure following revenue shortfall in the ...
Maximum concession period cut to half century in investment promotion overhaul
A newly-amended Investment Promotion Law has moved to cut by half the maximum investment period for new concession projects to 50 years, down from previous maximum period of 99 years. The move is aimed at maximising investment benefits for the Lao economy, an official from ...
Southeast Asian capitals bristle at Trump's trade probe
The Trump administration’s order to probe U.S. trading partners for unfair practices has provoked outrage in the Southeast Asian nations under scrutiny, and threatens to deepen a divide that leaves the region more exposed to Chinese influence. Indonesia, for one, has challenged the notion that ...
Vietnam's FPT looks to put self-driving cars on Asian roads
IT company to challenge global giants with low-cost tech. Vietnam’s FPT aims to jostle into competition among industry titans like Apple and Google over autonomous vehicles by commercializing a low-cost system within the next two years. The country’s leading information technology company is targeting about $200 million in annual sales from ...
