Today, Vingroup officially opened Vincom Mega Mall Royal City, Asia’s largest underground Retail and Entertainment Complex in Royal City, Hanoi.



Today’s grand opening, welcoming thousands of customers, reaffirms Vingroup’s market leading position in developing and managing the largest high-end shopping centres in Vietnam. Located at 72A Nguyen Trai Street, Thanh Xuan District, Hanoi, and covering an area of 230,000 sqm, Vincom Mega Mall Royal City is Vietnam’s largest Retail and Entertainment Complex and has been developed to satisfy all of the customers’ shopping and entertainment needs to the highest international standards.



Vingroup is recognized for an illustrious track record in development and management of the largest shopping and entertainment complexes across the country. Development of the Royal City Project commenced in 2010, with the site being officially handed over to Vingroup in May 2011, and comes into operation on schedule and after less than 30 months of expeditious construction and completion. Following only 10 months of pre-leasing, the shopping mall enjoyed an occupancy rate of over 95% for the underground component with participation from hundreds of leading global and local brands.



Speaking at the Grand Opening Ceremony, Ms. Le Thi Thu Thuy, Vingroup’s Vice Chairwoman cum CEO said: “We believe that Vincom Mega Mall Royal City, with many novel features and facilities, will be an ideal shopping, entertainment and recreational destination for every Hanoian, as well as domestic and international visitors to the capital. With our experience in managing the largest portfolio of high-end shopping centres in Vietnam, Vingroup is committed to providing the highest level of service and endeavors to meet all of our customers’ needs, ensuring that Vincom Mega Mall Royal City will be a major destination for tourism, culture and entertainment activities and a ‘must-see’ destination in Hanoi.”



Structured in an all-in-one concept, Vincom Mega Mall Royal City offers a full range of tourism, shopping and recreational services, where customers can combine sightseeing, consumption, interaction, social gatherings and, especially, family entertainment. Vincom Mega Mall Royal City is not only the largest shopping centre in the country with over 600 shops, but also a unique entertainment destination with many of Vietnam’s largest recreational facilities, including: the indoor Vinpearl Water Park Royal City, with a total area of​​ 24,000 sqm, which will open all year round and is one of the best in Asia in terms of entertainment value; the indoor Vinpearl Royal City Ice Rink, with a total area of​​ 3,000 sqm, which has a capacity of over 150 people per session and is the first international-standard ice rink in Vietnam; World Games, with numerous entertaining games; KizCiti – "Minimature careers city” where children from 3 to 15 years old are taught life skills through dynamic model careers; a Bowling area; an F&B Street comprising over 200 restaurants; the Platinum Cinema Complex, and much more.



The opening ceremony of Vincom Mega Mall Royal City also commemorates Vingroup’s 20th Anniversary (August 8, 1993 – August 8, 2013), constituting a solid achievement in the Group’s history of establishment and development.Various cultural activities, artistic performances, special promotions and attractive gifts were showcased during the ceremony. Many exciting activities and street performances with a European style will be held between 17:00 and 21:00 on 26 – 28 July 2013, at Royal City’s Square to welcome all visitors to Vincom Mega Mall Royal City on its grand opening, including photograph opportunities with Roman/Greek human statues, outdoor concerts, portrait paintings, street magic, circus clowns, skating club for children.

About Vingroup

Vingroup Joint Stock Company is a leading real estate corporation engaged in the development, leasing and sale of high quality retail, office, residential and mixed-use properties in prime locations in key major cities across Vietnam including Hanoi, Hai Phong, Hung Yen and Ho Chi Minh City. In addition, Vingroup is involved in the development, management and operation of premium tourism and hospitality properties in locations such as Nha Trang, Da Nang, Hoi An, Phu Yen and Da Lat. Vingroup Joint Stock Company was listed on the Ho Chi Minh Stock Exchange on September 19, 2007. Today, Vingroup is among the largest companies listed on Vietnam’s stock market by market capitalisation

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At the meeting, Chairman of HCM City People’s Committee – Mr. Le Hoang Quan requested Department of Finance to focus on compensation assessment records for approximately 3,000 households in the area of project. Mr. Quan also requested the Department of Architectural Planning to work with investor on establishing zoning task of 1/2000 based on the approved plan. At the same time, established a team to guide investor on implementing the 1/2000 plan.

During the meeting, the Department of Architectural Planning has proposed to increase the population size of 30,000 people which was approved from 2007 to 41,000-50,000 people. Adding some functional knowledge and new technology centre.

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Witnessed by Their Excellencies, Prime Minister Lee Hsien Loong of Singapore and Prime Minister Nguyen Tan Dung of Vietnam - Sembcorp-VSIP Water Initiative launched to provide clean water to local communities in Quang Ngai province



Sembcorp Development, a wholly-owned subsidiary of Sembcorp Industries (Sembcorp), celebrated the groundbreaking today of its fifth and latest Vietnam Singapore Industrial Park (VSIP) development located in Quang Ngai province, central Vietnam. The ceremony was witnessed by the heads of government, Prime Ministers Lee Hsien Loong of Singapore and Nguyen Tan Dung of Vietnam, signifying the continued importance of the well-established VSIP projects as a symbol of bilateral economic cooperation.


VSIP Quang Ngai will comprise a 600-hectare industrial park located in Son Tinh district, as well as a 520-hectare site zoned for commercial and residential purposes near downtown Quang Ngai city. There is an option to expand the industrial park by a further 626 hectares in the future. To kick-start the project, the developers will focus on a start-up area of 160 hectares for the industrial park and 100 hectares for commercial and residential development.




VSIP Quang Ngai is a development by Vietnam Singapore Industrial Park Joint Venture Co (VSIP JV Co), a 49-51 joint venture between Vietnam’s Becamex IDC Corporation and a Singapore consortium in which Sembcorp Development holds a 92.9% stake.

Quang Ngai province is strategically located in Vietnam’s central coastal region, where the Vietnamese government aims to attract greater investment. This will encourage the region to grow and avoid development in the country being concentrated only in Hanoi and Ho Chi Minh City. Government-supported investment incentives are being offered to manufacturers in VSIP Quang Ngai, which is situated within the Dung Quat Economic Zone in Quang Ngai province. From VSIP Quang Ngai’s central location, manufacturers will enjoy distribution access to the northern and southern economic zones of Vietnam, as well as to external markets such as Laos, northeastern Thailand and Cambodia. VSIP Quang Ngai’s target industries include food and beverage manufacturing, fast-moving consumer goods (FMCG), electronics assembly and other light industries catering to the oil and gas and chemical sectors.

During the groundbreaking ceremony, three manufacturers were awarded investment licences in VSIP Quang Ngai. URC Central Co of the Philippines, known for its Jack & Jill brand of potato chips, will set up a US$35 million plant, while King Riches (Vietnam) Footwear Co of the Kingmaker Footwear group, a Hong Kong stock exchange-listed company, will invest in a US$20 million plant producing branded footwear. Hebei Xindadong Textiles Co of China also committed to invest US$60 million in a textile manufacturing plant. Some 11,000 jobs will be created as a result of the initial investments by these three companies. In addition, the Philippines’ Liwayway Marketing Corporation and Singapore’s OceanMaster Engineering have signed letters of intent to set up production plants for food manufacturing and marine refrigeration systems respectively.

Aside from VSIP Quang Ngai, VSIP has four other projects across the country, in Binh Duong and Bac Ninh provinces, as well as in Hai Phong City. VSIP Quang Ngai brings the total gross area of the VSIP developments to 6,000 hectares, making VSIP the largest integrated township and industrial park development in Vietnam. To date, VSIP has attracted US$6.4 billion in total investment capital from over 490 companies to Vietnam. Companies operating in the VSIP developments employ more than 140,000 workers. In 2013, VSIP was named the ‘Best Industrial Developer in Vietnam’ by Euromoney.

Launch of the Sembcorp-VSIP Water Initiative

During the groundbreaking ceremony, Sembcorp, VSIP JV Co and the People’s Committee of Quang Ngai province also launched the Sembcorp-VSIP Water Initiative for Quang Ngai. In the first phase of this initiative, Sembcorp and VSIP JV Co will provide clean water to serve over 14,000 people across 10 sites in the Binh Son and Son Tinh districts of Quang Ngai province. A joint committee comprising representatives of Sembcorp, VSIP and the People’s Committee of Quang Ngai will be formed to oversee this initiative, and also assess appropriate solutions to deliver clean water to 10 other locations in Binh Son and Son Tinh in the next phase of the initiative.

Sembcorp in Quang Ngai province: Milestone also achieved for power project

Apart from its VSIP project, Sembcorp also made notable progress in its power project in Quang Ngai province – a 1,200-megawatt coal-fired power plant in the Dung Quat Economic Zone. This will be Sembcorp’s second power project in the country. Just two days before the ceremony, Sembcorp’s wholly-owned subsidiary, Sembcorp Utilities, signed a Memorandum of Understanding (MOU) with Vietnam’s Ministry of Industry and Trade (MoIT) for the development of this coal-fired power project under a 25-year build-operate-transfer arrangement. In May 2013, the Vietnamese government awarded approval for the project to be included in Power Master Plan VII, the country’s national power development plan for the period 2011-2020, and appointed Sembcorp Utilities as the project owner and developer. Sembcorp will undertake further studies and carry out subsequent steps for the development of this project in cooperation with MoIT, in accordance with the MOU.

Tang Kin Fei, Sembcorp’s Group President & CEO, said, “2013 marks the fortieth anniversary of the establishment of diplomatic relations between Singapore and Vietnam. Sembcorp is proud to have played, and to continue playing, our part in strengthening these bilateral ties. Our latest VSIP and power projects in Quang Ngai have achieved significant milestones and we believe they will contribute to Vietnam’s economic development, just as our established projects in the country have over the past 17 years.

“Our world-class urban developments provide the economic engine that drive investments into the country, while our utilities facilities supply essential power to support economic growth. At the same time, our water initiative demonstrates that at Sembcorp, we not only provide solutions that support economic development, but we also aim to make a difference by improving the quality of life of the local communities where we operate.”

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Foreign donors have agreed to contribute 857 million euros (US$1.137 billion) for the first stage of the project to build an 8.9-km section of Metro Line No 5 linking Saigon Bridge in Binh Thanh district to Bay Hien intersection in Tan Binh district.



The Ho Chi Minh City Management Authority for Urban Railways (MAUR) said the ADB will finance US$500 million, EIB 150 million euros, and the Spanish Government 200 million euros. The remaining will be financed by the Vietnamese Government's counter capital.

This is the third metro route in the city. The other two are Metro Line No 1 running from Ben Thanh market in District 1 to Suoi Tien Tourist Park in Thu Duc district and Metro Line No 2 which links Thu Thiem New Urban Area in district 2 to An Suong bus station in District 12.



Construction of Metro Line No 5 is scheduled to start in 2015 to link Metro Line No 1 (construction of which began in 2012) and Metro No 2 (construction to start next year).

According to the MAUR, after completion, Metro Routes No.1, 2 and 5 will each carry about 526,000 passengers a day.

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Vingroup Joint Stock Company (“Vingroup” or the “Company”), the largest listed real estate and tourism, hospitality development and management company in Vietnam by market capitalization, and one of the largest listed companies in Vietnam (ticker: VIC), successfully debuted in the international debt capital markets after pricing US$200 million of 4.5-years Reg S / 144A senior notes (the “Notes”) due 2018. The Notes pay a coupon of 11.625%.



The Notes, which are rated B+ by Fitch and B by S&P, were priced post a 6-day global roadshow covering the key financial centers of Hong Kong, Singapore, London, Los Angeles, Boston and New York, allowing for a US$200 million deal to be successfully priced at a yield of 11.875% by Thursday, October 31.

The bookbuilding process was participated in by over 100 fixed income accounts. The final order book was multiple times over-subscribed and was led by quality investors, many of whom are new to Vietnamese corporate credits. By geographical allocation, 60% came from Asia, 25% from the United States and 15% from Europe. By investor type, 66% of the Notes were distributed to fund managers, 25% to private banks and 9% to banks and other investors.

The net proceeds of the issuance will be transferred to Vincom Retail, Vingroup’s retail subsidiary with Warburg Pincus as private equity investor. Vincom Retail owns and operates a portfolio of high-end shopping malls at prime locations in key cities in Vietnam. It will use the net proceeds to fund development projects and for working capital and general corporate purposes.

The transaction represents the first ever benchmark US$-denominated bond offering by a Vietnamese corporate. Prior to the US$ bond offering, Vingroup has successively tapped the international capital markets including issuing US$300 million convertible notes in 2012, completing a US$200 million private equity investment by a consortium led by Warburg Pincus into Vincom Retail in May 2013, and closing a US$150 million syndicated loan in October 2013.

Ms. Le Thi Thu Thuy, Vingroup’s Vice Chairwoman and CEO commented, “We are extremely proud of Vingroup’s landmark corporate milestone of having been able to tap a new investor base. We continue to find ways to strengthen our balance sheet and diversify our funding sources. Moreover, through this issuance, we hope to lay the foundation for other Vietnamese corporates who seek to access the US$ bond markets in the future.”

Credit Suisse acted as sole global coordinator, and together with Deutsche Bank and ING as joint bookrunners for the transaction.

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On 6/11, Marriott International Hotel Group officially opened the first hotel branded JW Marriott in Hanoi. This is an important milestone in the development strategy of the Group in Southeast Asia.



The JW Marriott Hanoi is a 450-room, five+ -star hotel (394 graciously appointed, 48sqm guest rooms and 56 suites) situated on a lake within the Vietnam National Convention Center Complex.

This 75,000 square meter hotel and retail development includes three restaurants, two ballrooms, living room, a meeting and business center covering 3,600sqm, an executive lounge, a glass enclosed rooftop swimming pool with adjacent health club and poolside restaurant/bar, general public areas such as the main entrance lobby, retail areas, parking garage, as well as associated back-of-house areas.



The building’s form takes its inspiration from the mythological imagery of the dragon, which plays a significant role in the rich cultural heritage of the country.

Source: VEN

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