Binh Duong plans to build engineering supporting industrial zone
HCMC – The southern province of Binh Duong has inked a cooperation memorandum with Truong Hai Auto Corporation (THACO) for the establishment of an engineering supporting zone costing VND26,000 billion. Binh Duong Province and THACO will begin launching the project in 2023, with the provincial
Franchising of toll collection on State-funded expressways considered
HCMC – The Ministry of Transport has requested relevant agencies to weigh franchising toll collections on State-funded expressways, which would enable the Government to recover capital immediately to finance other traffic projects. Though the Government has allocated up to VND300,000 billion to
International trade fair kicks off in HCMC
HCMC – The 20th Vietnam International Trade Fair, Vietnam Expo 2022, opened at the Saigon Exhibition and Convention Center in HCMC’s District 7 on December 1, featuring 550 booths with more than 520 enterprises from 20 countries and territories. The three-day event consists of a series of
PM seeks crackdown on housing and bond fraud
HCMC – Prime Minister Pham Minh Chinh has ordered a clampdown on irregularities in the corporate bond and real estate markets, although it could affect market sentiment. The Prime Minister was speaking during a government meeting held Thursday morning, December 1. According to Chinh, rapid and
Turbine test in France boosts Hoa Binh hydropower plant expansion
HCMC – GE Hydro Solutions and Vietnam Electricity Group (EVN) have conducted an acceptance test of the 240-MW turbine at the hydraulic laboratory in Grenoble, France, marking a key milestone in the expansion of the Hoa Binh hydropower plant. Under a deal signed by GE Hydro Solutions and EVN for
HCMC’s foreign investment approvals up 3.3%
HCMC – As of early December, HCMC’s total foreign investment approvals had reached US$3.54 billion, up 3.3% year-on-year. The municipal authorities have so far this year approved 807 new foreign-invested projects with total pledged capital of US$477.7 million. Remarkably, there are 304 projects in
Vietnam’s rice exporters see opportunities as Indonesia boosts imports
HCMC – Indonesia plans to import 500,000 tons of rice to improve its reserves in 2022, presenting an opportunity for Vietnamese rice exporters to enter the Indonesian market. Indonesia’s national rice reserves have fallen to under 600,000 tons, while the nation aims to secure 1.2 million tons in
HCMC reports strong economic growth this year
HCMC – HCMC’s gross regional domestic product is estimated to rise by over 9% this year, well above the target of 6%-6.5%, showing the city’s strong post-Covid recovery, heard a conference held by the Standing Board of the HCMC Party Committee on November 30. All the three main pillars of the
Exporters encouraged to adopt green trade strategy
HCMC – Exporters in Vietnam should pay more heed to a green economy to meet increasingly stricter requirements set by import markets, Minister of Industry and Trade Nguyen Hong Dien told a recent green export promotion forum. Making green products will not only enable exporters to move closer
BAF Vietnam to acquire majority stake in livestock company
HCMC – BAF Vietnam Agriculture Joint Stock Company (BAF) will acquire 717,282 shares, or a 99.9% stake, in Kim Hoi Livestock Manufacturing and Trading Joint Stock Company. The BAF management board has passed a resolution on the stake acquisition, assigning BAF general director to take charge of
Government plans to rearrange state-owned enterprises till 2025
HCMC – Deputy Prime Minister Le Minh Khai has signed a decision approving a plan of rearrangement of state-owned enterprises for the period of 2022-2025 in the form of one-member limited company, equitization, re-arrangement and divestment. Accordingly, the Government will equitize 19 enterprises
HCMC to offer favorable conditions for Japanese businesses
HCMC – The HCMC government has sought to offer business incentives and enhance cooperation with Japanese investors on the city’s development initiatives of e-commerce, logistics, retail, trade and automation industry, among others. The information was given during the annual roundtable conference
HCMC water environment improvement project requested for the third extension
HCMC – The Ministry of Planning and Investment has written to the prime minister proposing approving the revised investment policy for the Water Environment Improvement Project in HCMC in the river basin of Tau Hu – Ben Nghe – Doi – Te (phase 2), pushing back the project’s completion date to
Compensation rates proposed for land along Beltway No. 3
HCMC – The HCMC Department of Natural Resources and Environment is expected to set compensation rates for households affected by the Beltway No. 3 project, which would range from VND18.7 million to VND40.1 million per square meter. The department has just written to the HCMC management board for
Vietnam, South Korea join hands to boost technology investment
HCMC – The Vietnam Blockchain Association (VBA), the Korea NFT Content Association (KONCA) and NBN Media Company have cut deals to boost technological investment cooperation between Vietnam and South Korea. The partnership is expected to help strengthen strategic ties between the two countries and
Ministry of Finance orders bond issuers to pay off debt
HCMC – The Ministry of Finance (MOF) has written to debt-issuing organizations, ordering them to cough up the principal and interest of their bonds and to closely follow regulations on bond issues. To ensure investors’ legitimate rights, the ministry said that bond issuers would have to work with