A group of US and Vietnamese investors have sought Ho Chi Minh City’s permission to develop a US$4 billion complex of office and entertainment buildings, local media reported on Wednesday.
The project was proposed by investment company Cantor Fitzgerald, architectural company Steelman Partners, and Taiwan-based developer Weidner Resorts of the US’s Weidner Holdings, news website Dau Tu (Investment) said.
Vietnam’s trading company Imex Pan-Pacific Trading Group, known for operating a chain of duty-free shops and fast-food restaurants at airports around the country, is their partner.
According to the plan, the complex will cover around 11 hectares at the new urban area Thu Thiem on the east of the Saigon River. Construction will be completed in more than three years, the website reported.
The complex is expected to attract both foreign and local companies, making it the city’s new financial center.
Clear skies over Asia’s new foreign investment landscape?
Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.(more…)
How higher US bond yields will impact Asia Pacific bonds
As financial markets started pricing in stronger US economic growth and inflation because of Joe Biden’s stimulus plan, US bond yields have risen, causing ripple effects across the world, including in APAC.
Following the rise in US bond yields in response to Joe Biden’s stimulus plan and amid higher inflation in some economies, Asia Pacific bond yields have risen significantly as well, especially in Southeast Asia, India, Hong Kong, and Australia. However, Northeast Asian bond yields have risen little.(more…)
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