US$223Mln Korean Real Estate Firm Licensed in HCM City
The People's Committee of Ho Chi Minh City on August 8 gave an investment license to the South Korean’s Kumho Asiana Plaza Saigon Ltd. Co, which has a registered capital of US$223 million and a legal capital of US$62.8 million.
The wholly foreign-owned company will build a complex of hotels, a conference centre, offices and apartments for rent, shops, and a recreation area.
The enterprise was established following the transfer of all rights and obligations of the Saigontourist and the Development and Services Company of Precinct 1 in the Kumho Saigon Joint Venture Company to the Kumho Industrial Co. Ltd of the S. Korea, which was approved by the Ministry of Planning and Investment on June 30.
S. Korea now ranks third among 57 countries and territories investing in Ho Chi Minh City, and it is also the fourth biggest investor in Vietnam with around US$5.86 billion for 1,166 projects.
Vietnam & World Economy
Vietnamese
