Yet to hit bottom
There is still a long way to go before the Vietnamese economy can expect a significant rebound, according to HSBC experts. While the economy showed some weaknesses, Vietnam’s services sector emerged as a bright spot, partially offsetting the overall situation. Retail sales in May increased by
Four state-owned banks cut deposit rates
HCMC – Vietnam’s big four state-owned commercial banks today, March 15, lowered their 12-month-term deposit interest rate by 20 basis points to 7.2%, just a day after the central bank decided to lower key interest rates. The four banks are the Vietnam Joint Stock Commercial Bank for Industry and
Gov’t to devise favorable policy for tourism: PM
HCMC – The Government would work out policies to tackle difficulties facing the tourism sector, said Prime Minister Pham Minh Chinh. He was speaking during a national conference held this morning, March 15, to find ways to step up tourism recovery and development. Though Vietnam sees tourism an
Vietnam Airlines set to add domestic, int’l flights
HCMC – Vietnam Airlines Group, including Vietnam Airlines, Pacific Airlines and VASCO, will make more than 20 million seats available for domestic and international flights between April and October, up 25% year-on-year, to meet the surging travel demand. Of the total, over 14 million seats will
Renewable energy investors concerned about electricity pricing mechanism
HCMC – Investors of transitional solar and wind power plants have written to the prime minister expressing concerns that the electricity pricing mechanism would cause possible disruptions of their financial plans. Due to the severe impact of Covid-19, 84 renewable energy projects with a total
Defense Ministry’s help sought to deal with vehicle inspection overloads
HCMC – The Ministry of Transport has asked the Ministry of National Defense for help to cope with excessive workloads at automobile registration and inspection centers, especially those in Hanoi and HCMC. The Ministry of Transport proposed the vehicle registration and inspection facilities under
Vinh Hao-Phan Thiet expy project behind schedule
HCMC – The Ministry of Transport has agreed to reschedule the completion date of the Vinh Hao-Phan Thiet expressway project, which will run through Binh Thuan Province, to June 30 this year, two months later than previously planned. The ministry’s Project Management Unit 7, the project’s investor,
Vietnam’s central bank cuts interest rates
HCMC – The State Bank of Vietnam (SBV) made two separate decisions today to lower interest rates by 0.5 to one percentage point, with effect from tomorrow, March 15. Under the SBV’s Decision 313/QD-NHNN, the rediscount rate will be down from 4.5% to 3.5% per year. For overnight loans in interbank
Military to hand over land to airport terminal by end-March
HCMC – The Ministry of Defense has said it will complete the handover of military land to HCMC prior to March 31 for building Passenger Terminal T3 and connecting roads at the Tan Son Nhat International Airport. The HCMC People’s Committee, the Ministry of Defense and relevant agencies conducted a
Over 410km of North-South expy to be completed this year
HCMC – Seven components of the Eastern North-South expressway project in the 2017-2020 period, with a total length of 411.6 kilometers, will be opened to traffic this year. The Ministry of Transport has urged relevant units to speed up work and complete the seven subprojects this year. They are
HCMC orders speedier public investment disbursement
HCMC – HCMC Chairman Phan Van Mai has issued an urgent dispatch urging municipal departments and agencies to speed up the disbursement of public investment capital as the city’s disbursement rate has reached a mere 0.52% of the total planned for all of 2023 by the prime minister. As of February
Hanoi pushes back metro line’s operation
HANOI – The operation of the Nhon-Hanoi Station metro line on the elevated section has been pushed back to August this year, instead of end-2022 as earlier planned. This was the fourth time Hanoi City had rescheduled the operation of this urban railway. Hanoi was seeking the prime minister’s