Shorter fuel price adjustment cycle proposed
HCMC – The Ministry of Industry and Trade (MOIT) has proposed shortening the fuel price adjustment cycle to seven days from the current 10. Fuel prices would be revised every Thursday, except for the first three days of Lunar New Year, the ministry said in its draft decree amending and
Air tickets nearly sold out ahead of Tet
HCMC – Air tickets on many domestic flight routes have nearly been sold out before the Lunar New Year holiday, Tet, with seat occupancy reaching 90-100%, as travel demand picks up, according to the Civil Aviation Authority of Vietnam. Flights from HCMC to other regions, such as Danang, Haiphong,
Work starts on VND1.3-trillion bridge in Quang Binh
HCMC – Work on Nhat Le 3 Bridge and two roads leading to the bridge began yesterday, January 8, in the central province of Quang Binh, with a total investment of VND1.3 trillion. Nhat Le 3 bridge will span over the Nhat Le River. The east side of the bridge will link with Vo Nguyen […]
US$9-billion HCMC-Can Tho Railway project under preparation
HCMC – The Ministry of Transport has assigned the Vietnam Railway Project Management Board to make preparations for the HCMC-Can Tho Railway project with an estimated cost of US$9 billion. The railway, starting at An Binh station in Binh Duong Province to Can Tho station and passing through six
Pork prices in HCMC cut ahead of Tet
HCMC – Supermarkets in HCMC are offering pork products at prices 10% to 30% lower than normal until the end of January as the Tet shopping spree has begun. Supermarket chains such as MM Mega Market, Lotte and Co.opmart have seen a surge in shoppers, with pork, seafood, vegetables, and dry food
CAAV proposes local carriers add planes to meet demand
HCMC – The Civil Aviation Authority of Vietnam (CAAV) has proposed local airlines increase the number of their aircraft to the pre-pandemic level of 234 to meet the rising travel demand. Under the proposal sent to the Ministry of Transport, CAAV said that the increase in planes is necessary to
Forty-five businesses honored at third HCMC Brand Award
HCMC – The HCMC Department of Industry and Trade and the Saigon Times Group co-organized the third HCMC Brand Award ceremony yesterday, January 6, to honor 45 businesses in the city for their efforts and success in brand building. The 45 winners are leading and prestigious enterprises in their
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
