Higher electricity production and import expected this year
HCMC – Electricity output and import this year are estimated at 284.5 billion kilowatt hours (kWh), up around 5.5% over last year, according to the latest power supply plan approved by the Ministry of Industry and Trade. The figure is 16 billion kWh higher than in 2022 and 29 billion kWh higher
Personal savings increase over 9%
HCMC – Personal savings at banks in 2022 grew strongly last year, according to the HCMC branch of the State Bank of Vietnam (SBV). Data from the SBV, the country’s central bank, showed that capital raised by commercial banks in the city expanded an estimated 6%, with personal savings rising 9.2%
HCMC prepares VND20 trillion worth of goods for Tet
HCMC – Businesses in HCMC have stocked up on VND20 trillion worth of goods for the upcoming Lunar New Year holiday, or Tet, said deputy director of the municipal Department of Industry and Trade Nguyen Nguyen Phuong. Phuong told a press briefing on January 5 that of the total amount, enterprises
First Cao Phong orange shipment to UK
HCMC — Seven tons of oranges grown in Cao Phong District in the mountainous province of Hoa Binh were shipped to the United Kingdom (UK), marking the first shipment of the local specialty to a European country. The Cao Phong District People’s Committee, the Hoa Binh Province Department of
Becamex IJC to issue nearly 35 million shares to pay dividend
HCMC – Becamex Infrastructure Development JSC, which trades its IJC shares on the Hochiminh Stock Exchange, will issue some 35 million shares to pay the 2021 dividend to its shareholders. With the stock dividend payment at a ratio of 16%, shareholders will receive 16 new shares for every 100
Standard Chartered forecasts Vietnam’s 2023 GDP growth at 7.2%
HCMC – Standard Chartered Bank has forecast Vietnam’s gross domestic product (GDP) will expand 7.2% this year, following a solid recovery to 8% in 2022. The forecast is 0.7 percentage point higher than the target approved by the National Assembly. “We still have a conviction on Vietnam’s high
Half a billion dollars committed to HCMC’s industrial zones in 2022
HCMC – HCMC’s export processing and industrial zones attracted new investments totaling nearly US$550 million last year, over 9% higher than expected, according to the HCMC Export Processing Zone and Industrial Park Authority (HEPZA). New foreign investment approvals amounted to US$196.6 million
Vietnam Railway seen lacking train cars
HCMC – Vietnam Railways now has over 160 locomotives and 500 train cars whose lifespans are set to expire in 2023, putting the sector at risk of failing to meet the travel demands. Dang Sy Thanh, general director of Vietnam Railways (VNR), said at a recent year-end conference that the number of
Nghi Son oil refinery’s output falls 25% due to technical issues
HCMC – The output of the Nghi Son Refinery and Petrochemical LLC, which accounts for 40% of the domestic fuel supply, is estimated to fall by 20-25% or around 125,000 cubic meters in the first 10 days of 2023 due to technical issues. Nghi Son has shut down its residual fluid catalytic cracking
HCMC targets VND160,000-billion revenue from tourism in 2023
HCMC – The HCMC Department of Tourism expects the city to attract 40 million tourists, including five million foreigners, and earn around VND160,000 billion from tourism services this year. Tourism Department director Nguyen Thi Anh Hoa said the city would take a range of measures to boost the
Kien Giang set to woo VND4.3t of investment in six projects
HCMC – The Mekong Delta province of Kien Giang looks to attract investment in six projects worth some VND4.3 trillion this year, according to the provincial Department of Planning and Investment. The province also targets the disbursement of roughly VND24 trillion to carry out projects this year,
Tolls adjusted up on four expressways as VAT back to 10%
HCMC – Tolls on four expressways in the country have increased slightly since January 1, 2023, as the value-added tax (VAT) was adjusted up from 8% to 10%, according to the Vietnam Expressway Corporation (VEC). The four expressways are Noi Bai-Lao Cao, Cau Gie-Ninh Binh, Danang-Quang Ngai and
SeABank has new CEO
HCMC – Southeast Asia Commercial Joint Stock Bank, or SeABank, whose shares are traded on the HCMC Stock Exchange under the code SSB, has named Loic Faussier, a French national, as CEO of the bank. He began his two-year tenure on January 3, the local media reported. Loic has 25 years’ experience
Third HCMC Brand Award ceremony set for Friday
HCMC – The HCMC Department of Industry and Trade, in collaboration with the Saigon Times Group, will hold the HCMC Brand Award 2022 ceremony at the GEM Center in HCMC’s District 1 on Friday, January 6. The event marks the third year of the HCMC Brand Award, an annual program jointly launched by
Sa Dec reports high flower sales revenue in 2022
CAN THO – Dong Thap Province’s Sa Dec City reported total revenue of VND3,350 billion from flower and ornamental plant sales in 2022. Vo Thi Binh, vice chairman of Sa Dec City, said the city now has over 2,300 households growing flowers on a total area of 946.5 hectares, mainly in Tan Quy Dong and
Over 1,300 social homes to be put up for sale in Danang
HCMC – The Danang Department of Construction has announced that it will put up for sale more than 1,300 social homes of two social housing projects not funded by the State budget. The social apartment building in Hoa Khanh Bac Ward in Lien Chieu District will have 13 units on sale, while two