Deadline for Metro Line No.1 completion extended
HCMC – The Government has agreed to reschedule the completion date of Metro Line No. 1 to the final quarter of 2023. The earlier deadline for the Ben Thanh-Suoi Tien metro line is the fourth quarter of 2021, with the contractors’ warranty period lasting for two years from 2024 to 2025 and the time
Becamex IDC, Sembcorp clinch deal to develop sustainable IPs in Vietnam
HCMC – Vietnam’s Becamex IDC Corporation and Singapore’s Sembcorp Development Ltd today, February 10, signed a Memorandum of Understanding (MOU) to jointly establish five sustainable industrial parks (IP) in Vietnam in the next three years, with a total investment of US$1 billion. The signing
Vietnam, Singapore eye stronger cooperation
HCMC – Prime Minister Pham Minh Chinh, during his official visit to Singapore, met with President Halimah Yacob and Prime Minister Lee Hsien Loong to discuss areas of mutual interest such as economy, security, defense, education, human resource development, tourism needs stimulation and
Five wood associations join hands to boost trading
HCMC – Vietnam’s five wood industry associations have announced their strategic cooperation to boost trade promotion and woodwork exports and develop the local wood market. They are the Association of Vietnam Timber and Forest Product (VIFOREST), the Handicraft and Wood Industry Association of
Derivatives trade plummets in January
HCMC – The derivatives market remained gloomy in January, with the VN30 index futures contract trading volume and value slipping. Though the VN30 index registered 1,125.07 points in January, up 11.3% against December 2022, the average trading value of the VN30 index futures slid nearly 34% over
Vietnam’s exports to Americas exceed US$8 billion in January
HCMC – Vietnam exported goods worth US$8.21 billion to the Americas and spent US$1.64 billion on imports from this market in January this year, resulting in a trade surplus of around US$6.56 billion, according to the Ministry of Industry and Trade. The U.S. remained Vietnam’s biggest trade partner
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,
