FPT acquires Intertec International’s IT Services division
HCMC – FPT Corporation, a leading Vietnamese technology firm, has announced its acquisition of Intertec International’s (Intertec) IT Services division to further strengthen its North American nearshore delivery capabilities. The acquisition enables FPT and Intertec to provide customers with a
Novaland’s former chairman leaves board of directors
HCMC – Bui Xuan Huy, former chairman of the HCMC-based property company Novaland, resigned yesterday, February 22, for personal reasons. He said in his resignation letter that his decision followed the firm’s restructuring plan. Huy held the post of general director of Novaland for two consecutive
Vietnam seeks express railway cooperation with Spain
HCMC – Deputy Minister of Transport Nguyen Danh Huy has said Spain can invest in Vietnam’s transportation industry and launch education and training programs for local personnel, particularly in railway projects. Huy praised the growing ties between the two nations during a recent meeting with
Cat Bi Airport pilots facial recognition tech
HCMC – The Cat Bi International Airport in Haiphong City has arranged a single line equipped with biometric authentication technology for travelers having chip-based citizen identity (ID) cards. Passengers are required to go through a facial recognition system at the security checkpoint, where a
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
Defense Ministry okays two military airports for civilian use
HCMC – The Ministry of National Defense said Thanh Son and Bien Hoa military airports in the central and southern regions can be converted into civil service. On those grounds, the Ministry of Transport recommended adding the two airports to the master plan for the development of the national
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
AGM to disband one subsidiary, sell another
HCMC – An Giang Import-Export Company has passed a resolution to disband its subsidiary, Angimex Food Purchasing Company, and sell another subsidiary, Dong Thap Agricultural Development Service Company (DASCO). Financial difficulties prompted the firm to adopt this resolution. Besides, the move is
Transport Ministry pushes for ETC systems at airports
HCMC – The Ministry of Transport has urged the Airports Corporation of Vietnam (ACV) to consider setting up electronic toll collection (ETC) systems at the gates to local airports to ease traffic congestion there. The prime minister signed Decision 19 in mid-2020 adjusting the development and
Industry ministry wants power supply secured
HCMC – Vietnam’s Ministry of Industry and Trade has requested three major State companies to ensure stable electricity supplies to facilitate socio-economic development and meet people’s needs. At a meeting held on February 21, Minister of Industry and Trade Nguyen Hong Dien told the ministry’s
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
Administrative bottlenecks impede social housing projects
HCMC – Despite the Government’s financial packages, low-income buyers still have difficulty acquiring a social home in HCMC due to red tape. According to the city’s Department of Construction, HCMC has many long-stalled social home projects for low-income people and workers, with administrative
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%
Vietnam Railway proposes removing regulations on train service life
HCMC – Vietnam Railway (VNR) has proposed not applying service life regulations on locomotives and train cars. According to statistics of VNR, the railway sector had had 258 locomotives, 980 train cars and 4,318 wagons by end-2022. The service life of locomotives and train cars pursuant to Decree
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