HoREA asks SBV to help struggling real estate sector
HCMC – The HCMC Real Estate Association (HoREA) has asked the State Bank of Vietnam (SBV) to allow credit restructuring to help real estate firms out of the financial crunch. The association wrote to the SBV, the central bank of the nation, just ahead of a meeting today, February 8, between the
Hanoi to start work on Beltway 4 this June
HCMC – The capital city of Hanoi will break ground on the Beltway 4 project in June this year, according to the Hanoi Management Board of Investment and Construction of Traffic Projects. The project management board has announced it would focus on facilitating procedures to begin construction on
Vietravel Airlines wants to increase capital nearly sixfold
HCMC – Vietravel Airlines has proposed the Government considering a roadmap to increase its investment capital from VND1,300 billion to VND7,642 billion by 2025. After more than two years of operation, Vietravel Airlines has three Airbus A321 aircraft, with a total investment capital of VND1,300
Binh Duong to develop 18,000 social homes in 2023
HCMC – The southern province of Binh Duong has approved a housing development plan for 2023, setting a target of building 18,000 social homes for workers this year, the local media reported. The province aims to continue improving its housing quality and serve the housing demand of residents,
Labor market bounces back
HCMC – Vietnam’s labor market has improved, sending goods news to workers being laid off in the final quarter of last year due to a shortfall of new orders faced by their companies. The Hanoi Center for Employment Services, in cooperation with job centers in six neighboring provinces, will hold
VNA to resume more air services to China
HCMC – Vietnam Airlines (VNA) will reopen international services on five more routes linking Vietnam and neighboring China in the next two months, raising the total number of Vietnam-China routes operated by the airline to nine, just one less than the pre-pandemic level. The national flag carrier
Quang Tri proposes adding power projects to national plan
HCMC – The government of Quang Tri Province has proposed adding local power generation projects to the National Power Development Plan for 2021-2030, reported the local media. These projects comprise a 1,800-2,000MW wind farm west of the province and a 1,200-2,000MW pumped-storage hydroelectricity
Aqua-product exports plunge 31% in January
HCMC – Vietnam’s aqua-product exports dropped sharply in January, fetching only US$600 million, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). The first month this year saw a plunge of 31% in aqua-product export value year-on-year due to the week-long Lunar New
Two broken undersea cables linked to Vietnam to be fixed
HCMC – Two among four broken undersea cables linked to Vietnam are scheduled to be fixed in March and April this year, reported the local media. A plan to fix Asia Pacific Gateway (APG) and Intra Asia (IA) undersea cable networks has been announced, according to a representative of an internet
FIR to issue nearly 9 million shares to pay dividend
HCMC – First Real JSC, whose shares are traded on the Hochiminh Stock Exchange under the code FIR, is set to issue over 8.9 million shares to make the 2021 dividend payment to its existing shareholders. The firm will close the shareholder list for dividend payment on February 14. With the stock
Saltwater contamination threatens Mekong Delta agricultural land
HCMC – Saltwater intrusion has begun to make its way into provinces near the Mekong River, affecting the irrigation of crops. Some 60,000 hectares of rice and over 43,000 hectares of fruit in the Mekong Delta’s coastal provinces are at risk of being contaminated by saltwater, said the Directorate
Interbank interest rates surge
HCMC – Interbank interest rates surged last week as the State Bank of Vietnam (SBV), the country’s central bank, shifted from net cash injections to withdrawals from the banking system. February 2 saw the interbank rate for the 9-month term jumping to 13% per annum from the previous 9.61%, but the
Hanoi seeks to remove hurdles to land use right auctions
HCMC – Hanoi City has proposed measures to eliminate hindrances to land auctions this year, as its revenue from land auctions last year met a mere 50% of the target. According to the Portal of the Hanoi People’s Committee, the city planned to collect VND12,450 billion from land use right auctions
Transport Ministry gets extra VND31 trillion for public investment
HCMC – The Government has allocated an extra VND31.4 trillion to the Ministry of Transport to fund key traffic infrastructure projects in the country. The allocation of additional capital, approved by Deputy Prime Minister Le Minh Khai yesterday, February 7, will be set for the ministry’s five
Saigon Times to organize CEO Forum on pharmaceutical industry
HCMC – The Saigon Times Group, in collaboration with the Vietnam Pharmaceutical Companies Association (VNPCA), NS BlueScope Vietnam Company’s Colorbond® and GMPC Vietnam Company, will hold a forum titled “Enhancing the competitiveness of pharmaceutical manufacturing” at the Rex Hotel in HCMC on
Time for customs clearance to be cut by 10% from this year
HCMC – The General Department of Vietnam Customs has set administrative reform targets to simplify customs procedures, including reducing the time for customs clearance and goods release by 10%, reducing the number of batches required for sampling for analysis and assessment by 20%, and applying