Vinhomes invests $568.6 million in four subsidiaries in Hưng Yên

16:59 | 22/07/2024 Vietnamese Brands Follow Ven.vn on

All four subsidiary companies will specialise in the real estate business.

Apartment buildings in Vinhomes Ocean Park 2 in Hưng Yên Province. — Photo grandworld.vinhomes.vn

HÀ NỘI — The Board of Directors of Vinhomes has recently announced the establishment of four subsidiary companies, all of which will focus on real estate.

The resolutions passed by the board pave the way for the formation of the Vịnh Xanh Real Estate Development Company, the Vịnh Xanh 1 Real Estate Development LLC, the Lighthouse Real Estate Development LLC and the Lighthouse 1 Real Estate Development LLC.

All four subsidiary companies specialise in real estate and are headquartered at Đại An Urban Area, Nghĩa Trụ Commune, Văn Giang District, Hưng Yên Province.

These companies are expected to have a combined registered capital of over VNĐ14.4 trillion (US$568.6 million).

Vinhomes will contribute both assets and cash to these subsidiaries.

With this development, Vinhomes, the largest real estate enterprise in Việt Nam, is set to expand its portfolio to a total of 42 subsidiary companies.

In its recent consolidated financial statements for the first half of 2024, Vinhomes posted a total net revenue of more than VNĐ36.4 trillion, with a consolidated profit after tax of VNĐ11.5 trillion for the six-month period.

The achievements were driven by substantial transactions from the sale of large plots at the Vinhomes Royal Island project and ongoing project handovers.

Source: VNS

See more news

150 products honoured as “Vietnamese Goods Loved by Consumers 2024”

11:34 | 29/11/2024 Vietnamese Brands

A ceremony honouring the 150 most popular products voted by consumers took place in Hanoi on November 28.

Phú Xuyên a land of hundreds of timeless crafts

10:12 | 27/11/2024 Vietnamese Brands

Phú Xuyên District, located 30 kilometres south of Hà Nội, is renowned as the 'land of hundreds of crafts', with all 154 villages engaged in various trades.

Dong Thap diversifies lotus products

09:34 | 26/11/2024 Vietnamese Brands

Lotus growers in the Mekong Delta province of Dong Thap have won big as their efforts to diversify lotus products pay off.

Top 10 reputable pharmaceutical, medical supply companies in 2024 announced

09:17 | 26/11/2024 Vietnamese Brands

The Vietnam Report JSC announced the list of top 10 reputable companies in the pharmacy, medical supply and health care for 2024.

The essence of Chuon Ngo Mother-of-Pearl Inlay Village

16:42 | 25/11/2024 Vietnamese Brands

Despite the passage of time, local artisans have meticulously preserved and elevated this traditional craft. Their exquisite creations have gone beyond national borders, reaching the continents and the world.

Petrovietnam grows strongly thanks to volatility management

07:29 | 24/11/2024 Companies

(VEN) - In the context of market volatility with complicated developments from epidemics, economic crises, to geopolitical instability, the proactive management of volatility of the Vietnam National Oil and Gas Group (Petrovietnam) has helped the group not only steadily overcome numerous difficulties, but also take advantages of new opportunities to set many records in production and business activities and make great contributions to the country’s economic growth.

Doubling insurance product’s payout significantly benefits customers

16:22 | 22/11/2024 Vietnamese Brands

(VEN) - The Agriculture Bank Insurance Joint Stock Corporation (ABIC) has officially doubled the maximum payout for its Bao An insurance product to VND1 billion. This is a major breakthrough, enhancing financial protection for customers amid an increasingly volatile economy and rising demand for financial security.

PJICO: 30 years of development

11:19 | 22/11/2024 Vietnamese Brands

(VEN) - Throughout the past 30 years of establishment and development, Petrolimex Insurance Corporation (PJICO) has solidified its position in the non-life insurance sector and overcame numerous challenges.

VN takes part in food and beverage fair in Chicago

09:45 | 20/11/2024 Vietnamese Brands

The event is organised by the Private Label Manufacturers' Association (PLMA).

Hòa Bình honey awaits reactions from UK

10:41 | 19/11/2024 Vietnamese Brands

Farmers, producers, and the agricultural authorities in Hòa Bình Province are waiting for feedback on their locally produced honey, which was exported for the first time to the UK last month.

Latest Most Read

Vietnam-France ties reach new height in 2024: Ambassador

10:16 | 22/12/2024 Cooperation

The year 2024 marks a historic milestone in Vietnam-France relations as the two countries elevated their ties to a Comprehensive Strategic Partnership, Vietnamese Ambassador to France Dinh Toan Thang told a Vietnam News Agency reporter based in Paris in a recent interview.

Industrial parks to go green, adopt sustainable models: forum

10:12 | 22/12/2024 Economy

Domestic and international industrial parks and related stakeholders shared experiences implementing smart and sustainable industrial park models and proposed policy solutions to transition Vietnamese industrial parks from traditional models to smart and sustainable ones at the Vietnam Industrial Park Forum held in Ho Chi Minh City on December 19.

Vietnam’s high-end fashion targets Chinese market

10:04 | 22/12/2024 Culture

An increasing number of Chinese celebrities are choosing high-end Vietnamese fashion, creating new opportunities for Vietnamese designers to make their mark in the 1.4 billion-strong market.

PM urges Da Nang to lead Vietnam’s economic transformation

09:53 | 22/12/2024 Economy

The central city of Da Nang must fully harness its distinctive potential, outstanding opportunities, and competitive advantages to achieve double-digit economic growth, solidifying its role as a growth hub of the central – Central Highlands region and the nation, said Prime Minister Pham Minh Chinh on December 21.

Aviation sector strengthens smuggling, commercial fraud and counterfeit goods control

09:49 | 22/12/2024 Society

(VEN) - On the afternoon of December 20, the Civil Aviation Authority of Vietnam (CAAV) issued a document to relevant units regarding the implementation of a plan to combat smuggling, commercial fraud, and counterfeit goods before, during, and after the Lunar New Year (Tet) of 2025.

Argentine culture moves closer to Vietnam with Tango dance

15:15 | 16/12/2024 Culture

(VEN) - The Tango dance from Argentina is sometimes lively, sometimes gentle, with sophisticated melody and lyrics, is getting closer to the Vietnamese people who love the Argentine culture.

“Biet dong Sai Gon - Legendary Tunnels" tour launched

15:10 | 16/12/2024 Tourism

The People’s Committee of District 10 in Ho Chi Minh City and the Chim Canh Cut Travel Service Joint Stock Company on December 14 launched an inter-district tourist tour named "Biet dong Sai Gon - Nhung can ham huyen thoai" (Saigon Special Forces - Legendary Tunnels."

Ha Long Bay celebrates 30 years as a world heritage site

15:16 | 16/12/2024 Tourism

Ha Long Bay, a breathtaking gem of Vietnam, was recognised as a World Natural Heritage site three decades ago, on December 17, 1994. This 30-year milestone not only marks a moment of pride for Vietnam but also underscores the immense responsibility that comes with safeguarding such a natural treasure.

Vietnamese students excel in mathematical skills, win big at int’l contest

16:14 | 16/12/2024 Society

Vietnamese students delivered exceptional performance and secured top honours at the 2024 UCMAS International Competition that took place in India from December 14-15.

Hanoi’s master plan targets per capita GRDP of 46,000 USD by 2050

16:19 | 16/12/2024 Society

The capital city’s per capita gross regional domestic product (GRDP) is expected to hit 45,000 - 46,000 USD while the urbanisation rate reach 80-85% by 2050, according to a newly-approved master plan for Hanoi in the 2021 - 2030 period with a vision to 2050.

Multimedia

Video Longform Infographic Photo

Total FDI registered in Vietnam hits 31.4 billion USD in January-November

09:02 | 17/12/2024 Infographic

As of November 30, 2024, the total newly registered capital, adjusted capital, and capital contributions or share purchases by foreign investors in Vietnam reached nearly 31.4 billion USD, up 1% increase compared to the same period last year.

First 11 months of 2024: Import-export turnover increases 15.4%

10:55 | 16/12/2024 Infographic

In the first 11 months of this year, Vietnam’s total import-export turnover reached 715.55 billion USD, up 15.4% against the same period last year, of which exports rose by 14.4% and imports up 16.4%. In the reviewed period, Vietnam enjoyed a trade surplus of 24.31 billion USD.

11-month agro-forestry-fishery exports exceed yearly target

19:55 | 15/12/2024 Infographic

Vietnam’s total export turnover of agro-forestry-fishery products in the first 11 months of 2024 reached 56.74 billion USD, an increase of 19% over the same period in 2023. The sector has exceeded the set target of 54-55 billion USD for the whole year, and is confidently aiming for a new record of 60 billion USD.

Hanoi achieves or exceeds 23/24 socio-economic targets for 2024

08:57 | 13/12/2024 Infographic

Hanoi achieves rather comprehensive results in its socio-economic development in 2024, with 23/24 targets completed or exceeded.

Quang Trach – Pho Noi 500kV circuit-3 power transmission line: Miracle in infrastructure development

09:05 | 12/12/2024 Infographic

Quang Trach – Pho Noi 500kV circuit-3 power transmission line is a key project with a total investment of nearly 880 million USD. Spanning 9 provinces, the 519-km power transmission line plays an important role in enhancing the operational stability for the electricity supply system in the north in 2024 and following years, contributing to ensuring the national energy security.

Policy

Gov't targets to gradually make English second language at schools by 2030

15:45 | 21/12/2024 Policy

The Government has approved a plan for international cooperation in the field of education and training until 2030 in order to improve the quality of workforce for socio-economic development.

Nine newly-adopted laws made public

16:42 | 20/12/2024 Policy

The Presidential Office on December 20 announced the President’s order to make public nine new laws that were passed by the 15th National Assembly at its eighth session.

Resolution on construction of North-South high-speed railway issued

11:42 | 19/12/2024 Policy

National Assembly Chairman Tran Thanh Man recently issued a resolution on the investment policy for the North-South high-speed rail project.

PM requests no one be left behind in apparatus restructuring

09:16 | 18/12/2024 Policy

Prime Minister Pham Minh Chinh on December 17 requested the development of regimes and policies to ensure the legal and legitimate rights and interests of officials, civil servants, public employees, and labourers in the restructuring of the organisational apparatus, with no one left behind.

Industry & Trade

Ministry proposes incentives for renewable energy projects

16:17 | 20/12/2024 Energy

The Ministry of Industry and Trade has proposed incentives to attract investments in renewable energy projects in a draft decree on implementing the Law on Electricity, which has recently been made public for comments.

The Era of Advancement for Vietnam Industrial Park

17:15 | 19/12/2024 Industry

(VEN) - The Vietnam Industrial Park Forum 2024, themed “The Era of Advancement for Vietnam Industrial Park”, is officially held in Ho Chi Minh City.

Vietnamese coffee sector working to meet EU Deforestation Regulation

16:38 | 18/12/2024 Industry

The Vietnamese Ministry of Agriculture and Rural Development (MARD) and the Sustainable Trade Initiative (IDH) organisation of the Netherlands on December 17 co-organised the handover ceremony of the pilot results for the database system for forests and coffee-growing areas in compliance with the EU Deforestation Regulation (EUDR).

Construction industry expands at the highest rate since 2020: ministry

09:38 | 18/12/2024 Industry

The construction industry is estimated to expand at around 7.8- 8.2% this year, the highest rate since 2020, according to a Ministry of Construction report.

Investment

Nghe An Southeast Economic Zone aims to attract 1 billion USD in FDI in 2025

12:33 | 21/12/2024 Investment

The Southeast Economic Zone of Nghe An Province targets attracting around 1 billion USD in foreign direct investment (FDI) in 2025, heard at a conference held by the Nghe An Southeast Economic Zone Management Board in Vinh City on December 20.

Boeing aims to expand investment and cooperation in Vietnam’s defense sector

17:00 | 19/12/2024 Investment

Mr. Dale McDowall, Executive Leader, Defense and Aerospace, Singapore and Southeast Asia at Boeing's Defense, Space & Security, announced that Boeing aims to invest in Vietnam and expand cooperation in the defense sector.

Can Tho attracts non-state investment

10:21 | 17/12/2024 Investment

Can Tho has been planned as a nuclear urban centre of the Mekong Delta region and received central government attention after the National Assembly issued a resolution on piloting special mechanisms for Can Tho’s development.

FDI remains vital contributor to boost economic growth

09:06 | 13/12/2024 Investment

Foreign direct investment (FDI) remains one of the most vital drivers of national economic growth, recording remarkable results in 2024.

Finance-Banking

Year-end surge in property bond issuance amid financial challenges

09:39 | 20/12/2024 Finance-Banking

As 2024 draws to a close, Vietnam's real estate industry is witnessing a notable surge in corporate bond issuances.

Vietcombank named most valuable brand in Vietnam

16:43 | 18/12/2024 Finance-Banking

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has become the most valuable brand in Vietnam in 2024, according to a recently released report of Forbes Vietnam.

Many banks increase deposit interest rates in year-end period

16:56 | 16/12/2024 Finance-Banking

In the year-end period, savings interest rates have become a focal point, with many banks adjusting their offerings, showing clear divergence.

Deputy PM urges extra efforts to remove Vietnam from money laundering grey list

15:16 | 13/12/2024 Finance-Banking

Deputy Prime Minister Ho Duc Phoc on December 12 urged ministries and sectors to do their utmost to implement the Financial Action Task Force (FATF)’s 17 recommendations to lift Vietnam out of its list of Jurisdictions under Increased Monitoring (grey list) related to money laundering.

Environment

Vietnam likely to face continued turbulent weather systems in 2025

14:26 | 19/12/2024 Environment

Global temperatures are expected to rise next year, posing a significant risk of extreme and prolonged heat waves in Vietnam, Mai Van Khiem, Director of the National Centre for Hydro-Meteorological Forecasting (NCHMF), has predicted.

Nature-based projects help Mekong Delta fight climate change

16:31 | 18/12/2024 Environment

Nature-based projects implemented by the World Wildlife Fund (WWF) Vietnam in the Mekong Delta region have helped support local residents to adapt to climate change, heard at a workshop which is part of The Mekong Connect Forum 2024 held in Mekong Delta province of An Giang on December 17.

11 rare monkeys released back into wild in Nghe An

09:27 | 18/12/2024 Environment

Eleven rare monkeys were released into the Pu Huong Nature Reserve in the central province of Nghe An on December 17.

Master Plan on Sustainable Exploitation and Use of Coastal Resources announced

11:26 | 16/12/2024 Environment

(VEN) - The Master Plan on Sustainable Exploitation and Use of Coastal Resources for the 2021-2030 period, with a vision to 2050, was announced by the Ministry of Natural Resources and Environment on December 15 at a conference in Khanh Hoa Province.

Science - Technology

Vietnam can partner with UK in developing nuclear power: Expert

12:43 | 21/12/2024 Science - Technology

Vietnam should research the feasibility of applying small modular nuclear reactor technology that the UK is currently working on, according to Dr. Dao Duc Cuong from the mechanical, engineering and energy faculty of the University of Bradford of the UK.

Vinaphone launches fastest 5G service in Vietnam

12:38 | 21/12/2024 Science - Technology

Vinaphone, the mobile network operator under the Vietnam Posts and Telecommunications Group (VNPT), has launched its official 5G service offering ultra-fast speed and unparalleled experience for both individual users and businesses alike.

Vietnam cooperates with Google to launch “Official Government Apps" feature

17:13 | 20/12/2024 Science - Technology

The Authority of Information Security (AIS) under the Ministry of Information and Communications, in collaboration with Google, launched the "Official Government Apps" feature on December 20 to enhance user protection against fraudulent activities and ensure online safety in Vietnam.

Two VNA newspapers rated "excellent" in digital transformation maturity

14:29 | 17/12/2024 Science - Technology

Two newspapers of the Vietnam News Agency - VietnamPlus and Tin tuc (News) - are among the 28 press agencies in Vietnam rated “excellent” in digital transformation maturity by the Authority of Press under the Ministry of Information and Communications.

Society

Aviation sector strengthens smuggling, commercial fraud and counterfeit goods control

09:49 | 22/12/2024 Society

How will green transformation roadmap for Ho Chi Minh City public transport be applied?

12:19 | 21/12/2024 Society

(VEN) - According to the Ho Chi Minh City People’s Committee, from 2030, 100% of the city’s buses will use electricity and green energy.

Vietnam aims high with global education integration scheme until 2030

16:36 | 20/12/2024 Society

Deputy Prime Minister Le Thanh Long has signed a decision approving a scheme on global integration in education and training until 2030, aimed at fostering socio-economic development, people-to-people diplomacy and international cooperation across various sectors.

HCMC - Trung Luong - My Thuan Expressway to be expanded

15:46 | 18/12/2024 Society

(VEN) - On the afternoon of December 17, the Government Office issued Notice No. 558/TB-VPCP, concluding the remarks of Deputy Prime Minister Tran Hong Ha at a meeting on the investment project to expand the Ho Chi Minh City (HCMC) - Trung Luong - My Thuan Expressway.

Vietnamese Brands

Viettel's hi-tech products meets standards for supply to Malaysia

13:19 | 21/12/2024 Vietnamese Brands

Hanoi promotes key industrial products

12:57 | 15/12/2024 Vietnamese Brands

Thirty-six products from 25 businesses were selected and recognised as Hanoi’s key industrial products for 2024.

Building a strong brand for Ha Giang’s thick-skinned orange

14:31 | 12/12/2024 Vietnamese Brands

(VEN) - With high nutritional value good for health, the thick-skinned orange has become well-known as a specialty of Ha Giang Province.

2024 Vietnam Business Day opens shop in Japan

14:49 | 04/12/2024 Vietnamese Brands

The Vietnam Business Association in Japan (VJBA) on December 3 held the 2024 Vietnam Business Day with the theme “Shared Vision, Shared Success".

Culture

Vietnam’s high-end fashion targets Chinese market

10:04 | 22/12/2024 Culture

An increasing number of Chinese celebrities are choosing high-end Vietnamese fashion, creating new opportunities for Vietnamese designers to make their mark in the 1.4 billion-strong market.

Enduring tradition of Ha Nhi ethnic minority group's costumes

13:14 | 21/12/2024 Culture

Nestled in the rugged landscapes of northern mountainous Dien Bien province, Ha Nhi ethnic minority group in Sin Thau, Sen Thuong, Leng Su Sin and Chung Chai communes of Muong Nhe district have preserved their traditional costumes through generations, ensuring that its significance remains as vital today as it was in the past.

Legendary band Boney M to thrill Vietnamese audiences this Christmas

14:49 | 17/12/2024 Culture

World renowned disco band Boney M are set to enliven the Central Highland province of Lam Dong alongside celebrated singers and bands from the 1970s and 1980s, including Joy and Samantha Fox, during the Da Lat spring concert which will be held on December 21.

Ten prominent cultural, sports, tourism events in 2024 announced

Vinhomes invests $568.6 million in four subsidiaries in Hưng Yên

See also

See more news

Multimedia