Two more expressways to be opened to traffic next week
HCMC – Two more expressways as part of the big-ticket North-South Expressway project will be opened to traffic on May 19, according to the Ministry of Transport. Nha Trang-Cam Lam expressway has a total length of over 49 kilometers in the central coastal province of Khanh Hoa, and requires a total
HCMC-Chon Thanh expressway proposed
HCMC – A construction plan for the HCMC-Chon Thanh expressway project has recently been proposed by Binh Duong Province, one of the two southern provinces through which the road passes. As planned, the expressway project will have three sections, with one in HCMC (two kilometers), one in Binh
Indonesia emerges as third largest buyer of Vietnamese rice
HCMC – Vietnam’s rice exports to Indonesia rocketed in the first four months of the year, according to data from the General Department of Vietnam Customs. Customs data showed that Vietnam shipped US$149 million worth of rice to Indonesia in the period, well above the US$58 million recorded in the
Heavy debt eats into wind energy companies’ profits
HCMC – High financial leverage and negative cash flow are weighing on wind power firms, making their debt five- or six-fold higher than equity. Trung Nam Dak Lak 1 Wind Power JSC, which owns the largest wind power plants in the country with a designed capacity of 400 MW, incurred a loss of VND860
Apple to open first online shop in Vietnam next week
HCMC – U.S. technology giant Apple Inc will open an online store, the first of its kind, in Vietnam, on May 18 to boost sales growth in emerging markets amid slowing sales in China. The Apple Store will offer the full line of hardware, accessories and services, especially shipping and personalized
Tenders invited for roads to Long Thanh airport project
HCMC – The Airports Corporation of Vietnam (ACV) is inviting tenders for a VND2,800-billion bidding package to construct two roads leading to Long Thanh International Airport. Package 6.12 includes building and preparing designs for roads No. 1 and No. 2, and has an execution duration of 900 days.
Central bank drains VND39 trillion from market this week
HCMC – Vietnam’s central bank net withdrew nearly VND39 trillion from the market and slashed interbank interest rates further as the banking system saw surplus liquidity due to slow credit growth. The State Bank of Vietnam (SBV) sold seven-day and 28-day government bonds worth a combined VND20
Falling reservoir water levels threaten power supply this year
HCMC – Many hydropower plants in the country have seen their reservoirs ebbing to extremely low levels, leaving huge impact on hydropower generation in the ongoing dry season. According to State utility Vietnam Electricity Group (EVN), the hydropower reservoirs will continue falling in the coming
Corporate debt sales plummet in April
HCMC – The corporate bond market has remained lackluster, with nearly VND2.62 trillion in corporate bonds issued in April, representing a mere 10% of the total recorded in March, according to the Vietnam Bond Market Association (VBMA). VBMA saw no new corporate debt issued in the first five days
Work on Cao Lanh-An Huu expressway to start in June
HCMC – The Mekong Delta province of Dong Thap is striving to complete land clearance for the Cao Lanh-An Huu expressway project by mid-June so that construction work could start at the end of this month. Some 92.3 hectares of cleared land have been handed over to the project management board,
Fuel prices drop for third straight time
HCMC – Domestic fuel retail prices continued to slide further from 3 p.m. today, May 11, marking the third consecutive decrease since the end of April. RON 95-III gasoline dropped by VND1,320 to VND21,000 per liter and E5 RON 92 bio-gasoline costs VND20,130 per liter, down by VND1,300, according
Government officials may face ouster sans two-thirds of confidence vote
HCMC – Government officials will have to step down from their posts in 10 days if they get low confidence votes from two-thirds of voters, according to a new draft decree. Candidates subject to the vote of confidence are those who hold leading and managerial positions in government bodies.
