Tunnel construction proposed at Hoang Lien Pass to connect Lao Cai and Lai Chau
HCMC – A tunnel with an altitude of 2,000 meters connecting Lao Cai and Lai Chau provinces will be constructed to replace the dangerous 22-kilometer pass on National Highway 4D, shortening the travel time from nearly two hours to 11 minutes. Deputy Prime Minister Tran Hong Ha on February 2023
New foreign investment approvals soar in HCMC in Jan-Feb
HCMC – Fresh foreign direct investment approvals in HCMC in the first two months of 2023 totaled US$332.3 million, up 43.1% year-on-year, showed data from the HCMC Statistics Office. During the two-month period, 101 projects were approved from the city, with total registered capital of US$97.7
Danang int’l fireworks festival to make comeback in June
HCMC – The 2023 Danang International Fireworks Festival (DIFF 2023) will be organized from June 3 to July 8 after a three-year suspension due to the Covid-19 pandemic. Sun Group said on March 1 that it would join hands with the Danang government to host the fireworks festival by the Han River. The
FLC Group gets new general director
HCMC – Le Tien Dung, board chairman at FLC Faros Construction JSC (FLC Faros), a subsidiary of FLC Group JSC, has been picked as new general director at FLC Group with effect from today, March 2, replacing his predecessor Bui Hai Huyen. Dung, 46, has many years’ experience in the electricity
Int’l expo for horticultural, floricultural production opens in HCMC
HCMC – The fifth International Exhibition and Conference for Horticultural and Floricultural Production and Processing Technology (HortEx Vietnam 2023) is taking place at the Saigon Exhibition and Convention Center (SECC) in District 7 from March 1 to 3. The exhibition is being organized by the
Agri-product shipments through Lao Cai border gate turn tough
HCMC – The volume of agricultural products exported to China through the Lao Cai border gate stood at only 50% of pre-pandemic levels due to slow customs clearance. The Chinese authority still imposes special requirements for goods transfers across the border, which slows down the speed of goods
Further extension proposed for 2023 tax payments
HCMC – The Vietnam Chamber of Commerce and Industry (VCCI) has proposed the six-month extension beyond the end of this year for settling all tax liabilities in 2023. The VCCI made the above proposal in its feedback to the Ministry of Finance, contributing to the finalization of a draft decree on
Manufacturing business conditions improve in February
HCMC – The Vietnamese manufacturing sector has seen a pickup in new orders, leading to higher output, employment and purchasing activity. The S&P Global Vietnam Manufacturing Purchasing Managers’ Index (PMI) was 51.2 in February, ending a string of contractions and up 3.8 points from 47.4 in
Deo Ca Group, Petro Trade join hands in Vietnam-Laos railway project
HCMC – Local infrastructure developer Deo Ca Group JSC has signed a joint venture agreement with Laos’ Petroleum Trading Lao (Petro Trade) Public Company to develop a Vietnam-Laos railway project. The railway line spans 554.7 kilometers, linking Vung Ang Port in the coastal province of Ha Tinh to
PLX to divest from PG Bank
HCMC – The Vietnam National Petroleum Group (PLX) has announced it will auction off its entire stake in the Petrolimex Group Commercial Joint Stock Bank (PGB). It will put up 120 million PGB shares, or a stake of 40% in the bank, for auction on the Hochiminh Stock Exchange (HOSE), with a reserve
Singapore is Vietnam’s biggest foreign investor in Jan-Feb
HCMC – Singapore poured US$978.4 million into Vietnam in the first two months of this year, making it the biggest investor among 51 countries and territories investing in Vietnam, according to the Ministry of Planning and Development. Singapore made up 31.6% of total foreign direct investment
Vinh Hao-Phan Thiet expy may fall behind schedule due to sand shortage
HCMC – The contractors of the Vinh Hao-Phan Thiet expressway have suspended construction work since the end of last year due to a lack of 920,000 cubic meters of sand for the roadbed. Since December 10, 2022, the contractors have not had sufficient building materials for execution of the project
Local fuel prices inch down
HCMC – The domestic retail prices of fuels were revised down at 15:00 p.m. today, March 1, according to an announcement jointly released by the ministries of Industry-Trade and Finance. Bio-fuel E5 RON92 is now priced at VND22,420 per liter, down VND120, while the higher-grade RON95 petrol sells
HCMC receives first golf tourists
HCMC – Twenty golfers from Singapore embarked on a three-day golf tour to the Tan Son Nhat golf course in HCMC, the first of its kind in the city, from March 1. The golfers are set to participate in a Vietnam-Singapore friendship golf tournament, the local media reported. The golfers, who are
PM wants rumors of banks selling debts checked
HCMC – Prime Minister Pham Minh Chinh has written to the central bank governor asking her to verify rumors of commercial banks selling debts and secured assets. Earlier, the Government Office had informed the PM of news reports that commercial banks were trying to sell and auction debts and
PM urges eliminating administrative bottlenecks for HCMC
HCMC – Prime Minister Pham Minh Chinh has recently asked the relevant agencies to cut red tape and establish a breakthrough mechanism for the city’s development. He suggested local authorities lay the groundwork to fulfill the potential of HCMC and bolster its role as the country’s economic