Vinaconex to sell majority stake in electromechanical subsidiary
HCMC – Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex) plans to sell over 90% of its shares in its wholly-owned subsidiary Vinaconex Electromechanical JSC (Vinaconex M&E). Vinaconex, whose VCG shares are traded on the Hochiminh Stock Exchange, on January 11 announced
CIEM: 2023 GDP growth may beat target
HCMC – Experts at the Central Institute for Economic Management (CIEM) have forecast that Vietnam’s 2023 gross domestic product (GDP) growth may exceed the National Assembly-approved target of 6.5%. It was one of the two scenarios envisioned by CIEM and the German Agency for International
HoREA proposes eliminating social housing land requirement
HCMC – Owning a home will continue to be a distant dream for many people if the regulation that requires property developers to set aside 20% of their project land for social housing development is in place, said the HCMC Real Estate Association (HoREA). The association proposed amending the law
HCMC, provinces approve investment roadmap for Beltway 4
HCMC – HCMC and four neighboring provinces have approved an investment roadmap for Beltway No. 4, scheduled to be commenced in 2024 and completed in 2028. The 200-kilometer beltway will pass through HCMC and four neighboring provinces — Long An, Binh Duong, Dong Nai and Ba Ria-Vung Tau. HCMC met
Global semiconductor makers seen coming to Vietnam
HCMC – Many leading U.S. semiconductor manufacturers will come to Vietnam in the coming years, John Neuffer, CEO of the Semiconductor Industry Association (SIA), told a meeting with Deputy Prime Minister Le Minh Khai on January 12. Semiconductors are a must-have component of electronics goods
Vietnam’s exports to U.S. exceed US$100 billion
HCMC – Revenue from Vietnam’s exports to the U.S. surpassed the US$100-billion mark last year, making America the largest export market of the Southeast Asian country. It was the first time that Vietnam had exported more than US$100 billion worth of goods to a foreign market, according to the
Transport ministry proposes re-opening suspended auto testing centers
HCMC – The Ministry of Transport has proposed re-opening some of the auto registration and inspection centers which have been suspended due to bribery allegations. Their resumption would help cope with long lines of vehicles waiting for safety testing at operational centers ahead of the Lunar New
Vietnamese passports up in global ranking
HCMC – Vietnamese passports have risen four places to 88th on the Henley Passport Index, which ranks the passport power based on the total number of visa-free or visa-on-arrival destinations available to holders worldwide. Vietnamese passport holders can now visit 55 countries and territories
HCMC to cut 51,000 public bus trips during Tet
HCMC – The HCMC Management Center of Public Transport has decided to reduce around 51,000 public bus trips from January 12 to 31 as a large number of commuters, mainly students and workers, had returned to their hometowns before the long Tet holiday. Le Hoan, deputy director of the center, said
Finance Ministry wants to stay away from fuel pricing role
HCMC – The Ministry of Finance (MOF) has written to the Ministry of Industry and Trade (MOIT), saying it does not want to carry the ball over fuel pricing regulation. In a draft decree amending Decree 95/2021 and Decree 83/2013 on fuel trading and pricing management, the MOIT proposed three
FLC vice chair seeks to resign as HAI board member
HCMC – Bui Hai Huyen, vice chairwoman of FLC Group JSC (FLC), wants to quit as board member at HAI Agrochem JSC (HAI), citing her personal reasons, according to an HAI announcement released yesterday, January 11. Her resignation request would be processed at an upcoming general meeting of HAI, an
Gov works on securities, housing market overhaul
HCMC – The Government is working toward stabilizing macroeconomic conditions, curbing inflation and spurring growth this year, with a focus on restructuring the securities and real estate markets. The prime minister issued Decree 01 on economic development plans, budget revenue estimates and
Industry minister checks troubleshooting at Nghi Son oil refinery
HCMC – Minister of Industry and Trade Nguyen Hong Dien visited the Nghi Son oil refinery in Thanh Hoa Province this morning, January 12, to get updates on the troubleshooting progress over technical issues affecting fuel supply before the Lunar New Year (Tet) holiday. Accompanying Dien were
Tan Cang Long Binh Inland Container Depot put into service
HCMC – The Ministry of Transport has announced to launch the first phase of the Tan Cang Long Binh Inland Container Depot covering 25 hectares in Bien Hoa City, Dong Nai Province. The Tan Cang Long Binh Inland Container Depot, developed by Tan Cang Long Binh ICD JSC, is located at 10 Phan Dang Luu
VND5 trillion to be spent on railway upgrade
HCMC – The Ministry of Transport will start work on five North-South express railway upgrade projects in the first quarter of this year, at a total cost of over VND5 trillion. The Vietnam Railway Authority under the ministry is in charge of deploying the five projects using the mid-term public
New apartment supply in Hanoi plunges to eight-year low
HCMC – Hanoi City saw new apartment supply tumbling to an eight-year low last year, but the average primary home price remained high, at about VND47 million per square meter, up 15% year-on-year, according to Savills Vietnam’s 2022 report. In 2022, a mere 12,640 new apartments were put up for sale
