To capitalise on the increasing interest of foreign real estate investors in Southeast Asia in general and Vietnam in particular, CapitaLand Limited has set up its first commercial fund in Vietnam named CapitaLand Vietnam Commercial Fund I (CVCFI) with a capital of US$300 million.

Thanks to Summerfield Company Limited’s intention to take over, the long-delayed US$2-billion Happy Land entertainment complex in the Mekong Delta province of Long An may be revived.

The Vietnam dong is expected to depreciate by two percentage points at the end of 2017, ending a period of stability that lasted throughout the year.

Uber Vietnam’s representative said that its taxi brand UberX will raise fares in Ho Chi Minh City from August 24, closing up with traditional taxi fares.

The disbursement of public investment and official development assistance-based capital through the end of the year is expected to reach government targets.

Increasing the regional minimum wage has raised concerns over a potential trade-off with social allowances that would block the new wages from increasing employees' real income. 

The introduction of International Financial Reporting Standards (IFRS) 9, effective from January 1, 2018, marks one of the most significant accounting changes that banks are facing today, said Tran Dinh Vinh Partner, Financial Services, KPMG Vietnam. 

The Speed Queen chain of laundry stores owned by Alliance Laundry Systems will open five stores in Ho Chi Minh City this year.

Empire Group, the investor of Cocobay, has officially lauched its Coco Bus Tour using open top double decker buses. The tour is expected to cross 25 popular and scenic stops from Danang International Airport to the southern part of the city.

Thai conglomerate Central Group will invest an additional $500 million to expand its operations in Vietnam within the next five years, aiming to set firm roots in this potential market, according to newswire Bangkok Post.