HCMC awaits green light for Can Gio transshipment port project
HCMC – A proposal to include the Can Gio international transshipment port project in the detailed planning for Group-4 seaports has been submitted many times, but there is still no response from the Transport Ministry, said a representative of the Saigon Port Joint Stock Company. The Saigon Port
HCMC proposes three options for Beltway 4 direction
HCMC – The HCMC Department of Transport has proposed three options for the direction of the Beltway No. 4 project in the city to reduce site clearance and construction costs. The options have been sent to the HCMC People’s Committee for consideration after public-private partnership (PPP) has been
Banks trim corporate bond holdings
HCMC – Commercial banks have reduced their holdings of corporate bonds amid a bleak bond market outlook and credit crunch. Techcombank, one of the biggest holders of corporate bonds, has cut its holdings by 12% over the previous quarter to VND43,500 billion, a steep fall of 43.3% compared to
Vietnam’s Jan-Oct rice exports meet 93-96% of full-year target
HCMC – Vietnam exported six million tons of rice worth nearly US$3 billion in the first 10 months, an increase of 17% in volume and 7% in value compared to last year, according to data from the Ministry of Agriculture and Rural Development. This export value represents 93 -96% of the full-year
Four expys to be opened to traffic by year-end
HCMC – The Ministry of Transport has ordered four sections of the North-South expressway project be opened to traffic before December 31 this year. The four sections are Cam Lo-La Son, Mai Son-National Highway 45, Vinh Hao-Phan Thiet and Phan Thiet-Dau Giay, the local media reported. Minister of
Binh Duong puts new FDI approvals at US$2.7 billion in Jan-Oct
HCMC – The southern province of Binh Duong has emerged as the second most preferred destination for foreign direct investment (FDI) in Vietnam, attracting US$2.7 billion in new FDI pledges in January-October, the provincial government reported. The figure shot up 57% over the same period last
Domestic steel demand continues sliding
HCMC – Dampened demand has lingered in the local steel market, leading to output and sales declining in October, according to data recently released by local steelmakers. Hoa Phat Group (HPG), a major Vietnamese steelmaker, saw its raw steel production down 19% year-on-year at 567,000 tons in
Home prices edge up in Q3
HCMC – The third quarter of this year saw prices of detached homes and condos growing across the country’s urban centers, particularly in Hanoi and HCMC. The average condo price in HCMC between July and September was VND66.7 million per square meter, up 1% over the second quarter, according to
Ports see Jan-Oct cargo throughput rising 3% y-o-y
HCMC – Cargo throughput at ports nationwide reached 608.3 million tons between January and October, meeting 84% of the year’s target and rising by 3% year-on-year, according to the Vietnam Maritime Administration. According to SSI Research, the shipping sector’s growth prospects remained grim in
VAT refund delays spell trouble for wood exporters
HCMC – Replanted-forest wood exporting businesses are finding it tough to claim VAT refunds, which have reached VND1,000 billion since January this year. The Association of Vietnam Timber and Forest Product (VIFOREST) has written to the Ministries of Agriculture-Rural Development and Finance,
Lenders told to meet fuel importers’ credit needs
HCMC – The central bank governor has written to commercial banks urging them to give fuel companies priority access to new loans. In an official dispatch sent to bankers, the State Bank of Vietnam (SBV) stated that fuel is a strategic commodity, so it plays an important role in macroeconomic
Savings rate hikes ease
HCMC – Commercial banks have been in a race to hike savings rates to attract clients, especially since the State Bank of Vietnam’s two recent interest rate increases. But savings rates have fallen below 10%-11% which were briefly reached. A report from the Analysis Center at SSI Research showed
