Dalat issues pilot plan on night-time economy
HCMC – Dalat City, a popular tourist destination in the Central Highlands province of Lam Dong, has introduced a plan to develop the night-time economy on a trial basis to fuel economic growth. The hilly city would pilot a variety of night-time economic activities in two phases, the local media
More bridges needed to connect HCMC and Dong Nai
HCMC – HCMC and Dong Nai Province will need one or two more bridges to facilitate inter-provincial connectivity. The authorities have proposed building two additional bridges, Phu My 2 and Dong Nai 2, to ease traffic between the two localities. According to the Road Network Development Plan for
Novaland suggests debt extension for property firms
HCMC – Major property developer Novaland has asked the central bank to enable debt restructuring and extension from 24 to 36 months for property firms. The proposal was made by Do Thi Phuong Nam, director for corporate restructuring at Novaland, during a meeting between the State Bank, lender
IFC pours US$100 million into SeABank
HCMC – International Finance Corporation (IFC) has injected US$100 million into SeABank, which trades its shares on the Hochiminh Stock Exchange under the code SSB, to boost home loans. The financing package is aimed at helping the bank raise its liquidity and make loans accessible to home-buyers
Dong Nai starts work on first resettlement area for expy project
HCMC – Long Thanh District of Dong Nai Province today, February 9, broke ground on the first resettlement area for families affected by the Bien Hoa-Vung Tau expressway project. When in place, the 30-hectare resettlement area in Long Duc Commune will accommodate nearly 3,400 people of some 843
HCMC beltway project needs sand supply from Mekong Delta
HCMC – The HCMC Department of Natural Resources and Environment has proposed that four Mekong Delta provinces provide over seven million cubic meters of sand for the inter-regional Beltway 3 project. The department wrote to the municipal People’s Committee after reviewing a plan to supply building
SBV says it does not restrict real estate loans
HCMC – Vietnam’s central bank has said it has no policy to restrict commercial banks from lending to the real estate sector. Deputy Governor of the State Bank of Vietnam Dao Minh Tu said at a meeting yesterday between the SBV and real estate firms that just some segments of the housing market had
January sees no corporate bonds issued
HCMC – The corporate bond market remained bleak last month, with no single bond issued, according to the Vietnam Bond Market Association (VBMA). Data from the VBMA showed corporate bond sales plunged to zero in the first month of the new year. The bond issues which businesses announced in January
Mekong Delta works on two major traffic infrastructure projects
HCMC – The Mekong Delta will be carrying out two major traffic infrastructure projects this year, thus improving connectivity in the region. Can Tho City will soon approve the feasibility study for a Chau Doc-Can Tho-Soc Trang expressway section that will pass through the city. Work on the section
Rheem Vietnam starts work on third factory in Binh Duong
HCMC – Rheem Vietnam, a major manufacturer of water heating products, broke ground on its third factory in Binh Duong yesterday, February 8, in celebration of the 10th anniversary of its establishment in Vietnam. Covering around 61,000 square meters, the facility will manufacture water heaters,
Mekong Delta provinces told to supply sand to expy project
HCMC – Three Mekong Delta provinces, Vinh Long, Dong Thap and Long An, have been asked to ensure the supply of 19 million cubic meters of sand for two sections of the North-South Expressway project. The Ministry of Transport has sent this request to the three provinces as the shortage of sand is
Tan Tao sells entire stakes from two affiliates
HCMC – Tan Tao Investment and Industry Corporation (ITACO) has announced its divestment from its two affiliates, Tan Tao Energy Development Corp (TEDC) and Tan Tao Urban Development and Investment Corporation (Tan Tao City Corp.). ITACO, which trades its ITA shares on the Hochiminh Stock Exchange,
PM wants lending eased for real estate sector
HCMC – Prime Minister Pham Minh Chinh has called for commercial banks to make credit accessible to property firms and homebuyers and cut costs to lower interest rates. Apart from real estate, they should also ensure meeting the loan demand of priority sectors such as manufacturing, he said, citing
Many Japanese firms in Vietnam plan expansion
HCMC – Many Japanese companies active in Vietnam are planning to expand their operations, heard a recent meeting between the Ministry of Planning and Investment and the Japan External Trade Organization (JETRO). For their plans in the next one to two years, 60% of Japanese firms will expand in
VCCI proposes allowing businesses to set fuel retail prices
HCMC – The Vietnam Chamber of Commerce and Industry (VCCI) has written to the Government suggesting fuel retail prices be decided by businesses based on supply and demand to prevent fuel shortages. VCCI also proposed doing away with the fuel price stabilization fund as it has failed to stabilize
Commercial sidewalk use may be charged by HCMC authorities
HCMC – HCMC is planning to allow the paid use of sidewalks for commercial purposes such as vending goods or parking if these business activities leave a space of at least 1.5 meters wide for pedestrians. The plan is part of a draft replacing Decision 74, dated 2008, on the management and use of