Central bank urges compliance with forex rules
HCMC – The HCMC branch of the State Bank of Vietnam (SBV) has told local banks and foreign bank branches to strictly comply with foreign exchange regulations after the trading band of the Vietnamese dong currency was widened from 3% to 5% on either side of the central exchange rate. The central
HCMC suspends helicopter tours
HCMC – The HCMC Department of Tourism announced temporarily suspending the 40-minute city helicopter tour due to a lack of heliports. According to travel firms, tour operators have had difficulty landing copters at the planned locations, namely the 175 Military Hospital and the Tan Son Nhat
Government to borrow over VND644 trillion in 2023
HCMC – The Government plans to borrow a total of VND644 trillion next year, around VND27 trillion higher than this year, according to a report to the National Assembly on public debt in 2022 and 2023. The capital will be mobilized from different sources, including government bonds, official
Saigon River Tunnel partially closed for three nights for fire safety test
HCMC – The HCMC Department of Transport has announced the temporary closure of the Saigon River Tunnel for three nights to test the automatic fire safety system. According to the authorities, the tunnel will be closed from 11 p.m. on October 22 to 4 a.m. on October 23 for vehicles traveling from
Thu Duc City to resume construction of four bridges in 2023
HCMC – Thu Duc City authorities expect to complete compensation and site clearance for the four under-construction bridges by the end of 2022, enabling work on the projects to restart early next year. The information was given by Hoang Tung, chairman of the Thu Duc City government, during a
Railway sector falls far below target
HCMC – Most targets set for the railway sector have not been realized, hampering the development of the railway industry for 2020 with a vision to 2030, according to a report submitted to the National Assembly by the Government. As part of the overall planning scheme, seven major lines are to be
SHTP inaugurates chip design center
HCMC – The Saigon Hi-Tech Park (SHTP) inaugurated a chip design center and chip design lab this morning, October 21. The project inauguration coincides with the 20th anniversary of the hi-tech park’s establishment and takes on a symbolic significance in promoting the development of the domestic
Dung Quat oil refinery ramps up output to ease fuel shortfall
HCMC – Dung Quat Oil Refinery in the central province of Quang Ngai has been operating at 109% capacity in an attempt to help alleviate fuel shortages in the domestic market, according to Binh Son Refining and Petrochemical Co., Ltd., the operator of the refinery. The company has seen a growing
Fuel prices rise again
HCMC – The Ministries of Finance and Industry-Trade decided to revise up fuel prices from 3 p.m. today, October 21, the second increase after four straight cuts. RON 95-III gasoline increased by some VND340 to VND22,347 per liter and E5 RON 92 bio-gasoline rose VND200 to VND21,492 per liter.
EC visits Khanh Hoa over IUU fishing control
HCMC – The European Commission (EC) on October 20 sent a team to the central coastal province of Khanh Hoa to inspect illegal, unreported and unregulated (IUU) fishing in the area. Le Tan Ban, director of the Department of Agriculture and Rural Development, said that the EC team would work in the
Dalat set to zero out greenhouses in city center
HCMC – Dalat, the capital city of Lam Dong Province, is planning to reduce its greenhouse acreage and get rid of all the greenhouses in the city center over a span of eight years, according to the Lam Dong People’s Committee. Vice Chairman of the Lam Dong People Committee Pham S asked the
Sea intrusion leads to landslides in central Vietnam
HCMC – Saltwater has entered deep into the estuaries of central coastal provinces, leaving over 150,000 meters of collapsed hills and causing havoc for the locals. Since Typhoon Noru hit the central coast, high tides and big waves have caused landslides and worsened saline intrusion at the Lach
Vietnam’s 2022 exports to Netherlands seen exceeding US$10 billion
HCMC – Vietnam’s exports to the Netherlands are expected to reach over US$10.4 billion this year. Vietnam’s exports to the Netherlands brought US$7.817 billion in the first nine months, up 40.1% from the previous year. Two groups of items with high export value are computers, electronics and
Vietnam, Australia promote research commercialization
HCMC – Representatives of the Vietnamese and Australian governments are joining hands to accelerate the implementation of the commercialization of research results. Promoting the application of research results in manufacturing is in line with the prime minister’s strategy for developing science,
Second Nordic Business Awards to take place next week
HCMC – The Nordic Chamber of Commerce in Vietnam (NordCham) will hold its second annual business awards at the Sofitel Saigon Plaza in HCMC on October 28 to celebrate the best of Nordic businesses in Vietnam. The event will gather around 200 business leaders, investors and diplomats from Denmark,
Hue set to become centrally-governed municipality by 2025
DANANG – The central province of Thua Thien-Hue will prepare a planning scheme for its entire natural area of around 4,947km2 to realize objectives until 2025, when this province becomes a centrally-governed municipality. This formed the main portion of Decision No. 1261/QD-TTg dated October 19,