Manufacturing business conditions improve in February
HCMC – The Vietnamese manufacturing sector has seen a pickup in new orders, leading to higher output, employment and purchasing activity. The S&P Global Vietnam Manufacturing Purchasing Managers’ Index (PMI) was 51.2 in February, ending a string of contractions and up 3.8 points from 47.4 in
National Assembly set to elect new State President tomorrow
HCMC – The National Assembly (NA) will hold an extraordinary session tomorrow, March 2, to elect a new State President. The post of State President has been left vacant since the National Assembly relieved Nguyen Xuan Phuc from the post. Tonight the NA Office issued a press release announcing the
Deo Ca Group, Petro Trade join hands in Vietnam-Laos railway project
HCMC – Local infrastructure developer Deo Ca Group JSC has signed a joint venture agreement with Laos’ Petroleum Trading Lao (Petro Trade) Public Company to develop a Vietnam-Laos railway project. The railway line spans 554.7 kilometers, linking Vung Ang Port in the coastal province of Ha Tinh to
PLX to divest from PG Bank
HCMC – The Vietnam National Petroleum Group (PLX) has announced it will auction off its entire stake in the Petrolimex Group Commercial Joint Stock Bank (PGB). It will put up 120 million PGB shares, or a stake of 40% in the bank, for auction on the Hochiminh Stock Exchange (HOSE), with a reserve
Singapore is Vietnam’s biggest foreign investor in Jan-Feb
HCMC – Singapore poured US$978.4 million into Vietnam in the first two months of this year, making it the biggest investor among 51 countries and territories investing in Vietnam, according to the Ministry of Planning and Development. Singapore made up 31.6% of total foreign direct investment
Vinh Hao-Phan Thiet expy may fall behind schedule due to sand shortage
HCMC – The contractors of the Vinh Hao-Phan Thiet expressway have suspended construction work since the end of last year due to a lack of 920,000 cubic meters of sand for the roadbed. Since December 10, 2022, the contractors have not had sufficient building materials for execution of the project
Local fuel prices inch down
HCMC – The domestic retail prices of fuels were revised down at 15:00 p.m. today, March 1, according to an announcement jointly released by the ministries of Industry-Trade and Finance. Bio-fuel E5 RON92 is now priced at VND22,420 per liter, down VND120, while the higher-grade RON95 petrol sells
HCMC receives first golf tourists
HCMC – Twenty golfers from Singapore embarked on a three-day golf tour to the Tan Son Nhat golf course in HCMC, the first of its kind in the city, from March 1. The golfers are set to participate in a Vietnam-Singapore friendship golf tournament, the local media reported. The golfers, who are
PM wants rumors of banks selling debts checked
HCMC – Prime Minister Pham Minh Chinh has written to the central bank governor asking her to verify rumors of commercial banks selling debts and secured assets. Earlier, the Government Office had informed the PM of news reports that commercial banks were trying to sell and auction debts and
PM urges eliminating administrative bottlenecks for HCMC
HCMC – Prime Minister Pham Minh Chinh has recently asked the relevant agencies to cut red tape and establish a breakthrough mechanism for the city’s development. He suggested local authorities lay the groundwork to fulfill the potential of HCMC and bolster its role as the country’s economic
Dutch firms put forward solutions to improve HCMC’s investment climate
HCMC – Dutch companies have suggested multiple solutions for the business environment, traffic infrastructure, promotion activities and quality of urban life to help HCMC become more attractive to investors, heard a meeting between HCMC leaders and the Dutch Business Association in Vietnam on
Long An proposes changes to Beltway 4 project to cut compensation costs
HCMC – The Mekong Delta province of Long An has proposed the Ministry of Transport revise the Beltway No. 4 section that passes through the province to reduce costs and impacts on residents. The proposed route is basically in line with the zoning plan but the section from National Highway N2