Real estate sector still struggles
HCMC – The ongoing credit crunch and the Government’s restrictions on corporate bond sales have put an additional strain on the debt-ridden real estate sector. Savills Vietnam’s survey pointed out that homebuyers must apply for a mortgage worth around 50% to 80% of the total value of a mid-end
Vietnam Airlines resumes regular Hanoi-Kuala Lumpur flights
HCMC – Vietnam Airlines resumed regular flights between Hanoi and the Malaysian capital of Kuala Lumpur on February 13. The national flag airline’s Hanoi-Kuala Lumpur route has a frequency of four weekly flights on Tuesdays, Thursdays, Fridays and Sundays. Vietnam Airlines will offer promotional
Domestic airlines’ licenses to be reviewed
HCMC – The Ministry of Transport has asked the Civil Aviation Authority of Vietnam (CAAV) to review the licenses of domestic airlines operating commercial flights, the local media reported. The instructions, signed by Deputy Minister of Transport Le Thanh Tuan, authorized CAAV to propose measures
Halong to become national service-tourism center
HCMC – The Government has approved the master plan of Quang Ninh Province for the period of 2021-2030 and Halong City of the province until 2040, under which this coastal city will be developed into a world-class service and tourism hub, according to the local media. The general plan for Halong
Gasoline rises, diesel falls
HCMC – Gasoline prices in Vietnam continued rising further today, February 13, while diesel oil edged down. The ministries of Industry-Trade and Finance revised the retail prices of gasoline nationwide, with RON 95-III gasoline and E5 RON 92-III bio-gasoline selling for VND23,760 and VND22,860 per
Savico issues 33 million more shares
HCMC – Saigon General Service Corporation (Savico), whose SVC shares are traded on the Hochiminh Stock Exchange (HOSE), has issued more than 33.3 million shares, equivalent to the number of its outstanding shares. HOSE on February 10 announced changes to the number of listed shares of Savico,
Vietnam power plants face coal shortage
HCMC – Coal-fired power plants are at risk of having no enough coal to generate electricity, according to Vietnam Electricity Group (EVN). EVN expressed its concerns in a document sent to the Ministry of Industry and Trade regarding the operation of the new Thai Binh 2 Thermal Power Plant.
Work starts on commercial center in Hue
HCMC – Work has begun on AEON MALL Hue, the biggest shopping center in central Vietnam, in Thua Thien-Hue Province. This is the seventh shopping center of AEON MALL in Vietnam and it is expected to be put into service in late 2024. The 8.6-hectare project in An Dong Ward, Hue City requires an
Macau to resume air services to Danang next month
HCMC – The Civil Aviation Authority of Macau, China, will resume many flights to Southeast Asian destinations, including Vietnam’s Danang City, in March to meet the rising travel demand. In addition to Danang, China’s special administrative region will restart air services to Manila in the
Half of Vietnam’s int’l internet connection capacity restored
HCMC – Internet service providers have restored 50% of international internet connectivity after the breakdown of four undersea internet cables, according to the Vietnam Telecommunications Authority. A representative of the Vietnam Posts and Telecommunications Group (VNPT) said that VNPT worked
Red River Delta expected to be driver of economic growth
HCMC – Prime Minister Pham Minh Chinh wants the Red River Delta region, which includes 11 cities and provinces in Northern Vietnam, to further promote its role as the country’s major driver of economic growth, heard a conference held in Quang Ninh Province’s Halong City on February 12. The Red
Samsung plans world’s leading R&D center in Vietnam
HCMC – Samsung Vietnam is seeking to develop its current research and development (R&D) center in the Tay Ho Tay urban area in Hanoi City into a world’s leading one, reported the local media. Choi Joo Ho, president of Samsung Vietnam, spoke of the plan at a conference on socio-economic
Xuan Thien Group mulls oil refinery project in Ninh Binh
HCMC – Xuan Thien Group is seeking approval from local authorities to conduct a survey to develop a petrochemical and refinery complex covering around 2,500 hectares in the northern province of Ninh Binh. The petrochemical and refinery complex will be developed in three phases from 2025 to 2040,
Son Hai Group eyes Nha Trang-Lien Khuong expy project
HCMC – Son Hai Group, a local construction firm based in the central province of Quang Binh, wants to build an expressway linking Khanh Hoa Province and neighboring Lam Dong Province. The Lam Dong Province Department of Transport will work with the relevant agencies to consider Son Hai Group’s
US$6-billion Can Gio port’s pre-feasibility study to be completed in Q1
HCMC – Investors of the international transshipment port project in HCMC’s outlying district of Can Gio plan to complete the project’s pre-feasibility study and seek approval for it in the first quarter of this year. The first phase of the project is set to begin construction in 2024 and be
Cargo ships collide in Can Gio
HCMC – The Singaporean-flagged Wan Hai 288 ship crashed into the Resurgence vessel in the opposite direction in Long Tau River in HCMC’s outlying district of Can Gio early this morning, February 11. No casualties were reported, but the two vessels suffered significant damage including several