Phan Thiet Golf hits into a sandtrap over construction

Article Abstract:

The judicial court of Binh Thuan has ordered Phan Thiet Golf and Country Club Ltd. to pay Thai firm Bangplee Golf Course Construction $700,000 in damages resulting from a 1994 lawsuit despite a pending appeal at the Supreme Court. Phan Thiet Golf, which is Vietnam's biggest foreign investor, has already paid Bangplee $1.05 million in damages in 1994 after the provincial court found it guilty of illegal termination. It paid another $300,000 into an escrow account shortly after it filed its first appeal to the Supreme Court. The US Embassy has asked the Vietnamese government to look into the case as it would have an impact on future US investments.

Construction, Management, Foreign investments, International relations, Bangplee Golf Course Construction

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Vietnam pulls in the reins on the budget

Article Abstract:

Vietnam Finance Minister Nguyen Sinh Hung plans to keep the country's debt and budget deficit down in 1997. Although he acknowledges the importance of trade liberalization to economic growth, he cautions against completely opening the economy to foreign companies as this would have a strong impact on domestic production. Nguyen believes that Vietnam's growth will depend much on its resources and thus it should keep consumption at a minimum to achieve bigger savings.

Analysis, Economic policy, Government spending policy, Nguyen Sinh Hung

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U.S. Embassy joins fray

Article Abstract:

US ambassador to Vietnam, Pete Peterson, has written a letter to Vietnamese Prime Minister Phan Van Khai in support for US-owned Phan Thiet Golf & Country Club Ltd, which is fighting a court battle against Bangplee Golf Course Construction Co. The letter was clear in saying that a decision in favor of Phan Thiet is necessary if the company's investment is to be able to remain in Vietnam

Building, Developing, and General Contracting, Contract Construction, Laws, regulations and rules, Golf courses, Construction contracts, Bangplee Golf Course Construction Co.

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