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
Dutch firms put forward solutions to improve HCMC’s investment climate
HCMC – Dutch companies have suggested multiple solutions for the business environment, traffic infrastructure, promotion activities and quality of urban life to help HCMC become more attractive to investors, heard a meeting between HCMC leaders and the Dutch Business Association in Vietnam on
Long An proposes changes to Beltway 4 project to cut compensation costs
HCMC – The Mekong Delta province of Long An has proposed the Ministry of Transport revise the Beltway No. 4 section that passes through the province to reduce costs and impacts on residents. The proposed route is basically in line with the zoning plan but the section from National Highway N2
HCMC proposes coefficient K be used to set land prices
HCMC – The HCMC People’s Committee has written to the Government proposing using coefficient K to determine land prices for many property projects in the city. It is difficult to collect and check information on the actual prices of property transactions in the city due to vagueness in those
Interbank interest rates rise
HCMC – Vietnam’s interbank interest rates have edged up further due to the central bank’s net cash withdrawals from the banking system. The interbank rates for all tenors have risen, with the overnight rate increasing by 1.4 percentage points to 6%, according to a recent market report by SSI
Nearly 51,400 firms exit market in Jan-Feb
HCMC – Nearly 51,400 businesses have pulled out of the market in the year to date, up 14.5% year-on-year, according to the General Statistics Office. Of these companies, some 38,800 have temporarily suspended their operations, up 18.5% year-on-year, and 9,400 have halted their operations pending
Louis Capital’s senior executives face ouster
HCMC – Louis Capital JSC (TGG) has announced it would call for the dismissal of four board members and three supervisory board members at the upcoming general meeting of shareholders. The four board members who are facing removal are Nguyen Mai Long, Trinh Van Bao, Ngo Thuc Vu, and Cao Ba Trung,
HCMC to put up nearly 3,800 apartments for auction
HCMC – HCMC authorities are working out auction plans for land plots and 3,790 apartments in the Thu Thiem new urban area after their auctions failed for three consecutive times. A working session, with the participation of HCMC Vice Chairman Bui Xuan Cuong, discussed a detailed plan for the
Cross-border TV service providers must get license in Vietnam
HCMC – Cross-border over-the-top (OTT) media service providers, such as Netflix, WeTV and iQiYi, must establish a legal entity in Vietnam to offer services to Vietnamese users, heard a seminar in HCMC on February 27. The seminar was held by the Ministry of Information and Communications to give
Vietnam enjoys trade surplus of US$2.82 billion in Jan-Feb
HCMC – Vietnam exported goods worth US$49.44 billion in the first two months of the year, while spending US$46.62 billion on imports during the period, resulting in a trade surplus of US$2.82 billion, according to the General Statistics Office. Meanwhile, the country ran a trade deficit of US$0.3
Proposal for expansion of access road to HCMC – Long Thanh – Dau Giay Expy
HCMC – The HCMC Department of Transport has reported to the municipal People’s Committee the VEC’s proposal to expand the road leading to the HCMC – Long Thanh – Dau Giay expressway. According to the Department of Transport, Vietnam Expressway Services Engineering Joint Stock Company (VEC) has
