Kien Giang proposes investing VND25,643 billion in Ha Tien – Rach Gia Expy
HCMC – The Mekong Delta province of Kien Giang has written to the Government seeking approval for its Ha Tien-Rach Gia expressway project proposal. The proposed expressway, with the starting point intersecting with National Highway 80 and the endpoint connecting with Lo Te–Rach Soi expressway,
UK backs HCMC to become regional financial hub
HCMC – The United Kingdom (UK) Government has appointed TheCityUK, a financial and related professional services body, to support the HCMC authorities to develop the southern city into a regional financial and business center. TheCityUK will work with the UK Government and the British Embassy in
VND6.3 trillion to be disbursed for North-South expy this month
HCMC – The Ministry of Transport has announced it would disburse nearly VND6.3 trillion of public investment capital for the North-South Expressway project this month. The Government has tasked the Ministry of Transport with disbursing nearly VND94.2 trillion of public investment in 2023.
Taiwan auto parts maker to set up shop in Hai Duong
HCMC – Taiwan’s NeoSCM Limited has plans to invest some US$44-55 million into a facility producing car brake discs in the northern province of Hai Duong. The 8-hectare factory will be built in An Phat Industrial Park No. 1 in Nam Sach District, with annual output of four million products for
HCMC starts rehabilitation of polluted canal
HCMC – Work began this morning, February 23, on a VND8.2-trillion project to rehabilitate the heavily polluted Tham Luong-Ben Cat-Nuoc Len Canal, according to the local media. The 33-kilometer Tam Luong-Ben Cat-Nuoc Len Canal will be dredged. It will also have concrete embankments, roads measuring
Vietnam to export 7 million tons of rice this year
HCMC – Vietnam’s rice export activity has shown positive signs early this year, with 6.5-7 million tons of rice forecast to be exported in all of 2023. The forecast was made during a trade conference held by the Ministry of Industry and Trade in HCMC on February 21. At the conference, the
Air passengers soar over 90% in Jan-Feb
HCMC – Vietnam’s aviation sector has recovered robustly, achieving a high growth rate compared to the pre-pandemic year of 2019. In a report the Civil Aviation Authority of Vietnam (CAAV) sent to the Ministry of Transport on air transportation so far this year, the number of flights and air
Charges filed against former Haiphong police chief
HCMC – Do Huu Ca, former director of the Haiphong City Police Department, has been charged with asset misappropriation fraud. The 65-year-old was detained on February 18 for his alleged involvement in tax evasion and illegal trading of invoices that happened in Haiphong City and neighboring Quang
Novaland proposes extending bond maturity
HCMC – Major Vietnamese real estate developer Novaland has proposed extending the maturity of the bonds it issued to a later date due to its tight budget. According to the official dispatch Novaland sent to the Hanoi Stock Exchange, the HCMC-based property firm has not been able to settle coupons
Gas sale for O Mon II power plant agreed upon today
HCMC – PetroVietnam (PVN) and a consortium comprising Trading Construction Works Organization (WTO) and Marubeni Corporation signed a gas sale heads of agreement for the O Mon II Thermal Power Plant this morning, February 22, in Hanoi. As per the heads of agreement, which is normally a non-binding
HCMC’s tourism revenue soars in Jan-Feb
HCMC – HCMC’s tourism sector generated over VND21.2 trillion in revenue in the first two months of 2023, surging by 62.3% year-on-year, according to the municipal Department of Tourism. Between January and February, the city welcomed nearly 677,000 international tourists, rocketing 100%
VCCI says rules needed for setting credit growth quotas
HCMC – The Vietnam Chamber of Commerce and Industry (VCCI) has proposed policymakers provide regulations for the setting of credit growth quotas. Article 59 of the 2010 law on the State Bank of Vietnam (SBV) states that depending on the nature and degree of risks, the SBV can decide on a certain