More bond issuers face debt repayment woes
HCMC – Many bond issuing companies are having difficulty settling debt as poor business conditions, tough access to credit and difficulties in raising funds from the stock market have heavily affected their cash flows. Hung Thinh Incons JSC called for a delay in paying principal and interest for a
HCMC plans to take back Saigon Silicon City investment certificate
HCMC – The government of HCMC is preparing paperwork to withdraw an investment certificate from the Saigon Silicon City project within this year due to the project’s long delays, said a city official. It is inappropriate to have a project like this lagging behind schedule while many other projects
Real estate sector still struggles
HCMC – The ongoing credit crunch and the Government’s restrictions on corporate bond sales have put an additional strain on the debt-ridden real estate sector. Savills Vietnam’s survey pointed out that homebuyers must apply for a mortgage worth around 50% to 80% of the total value of a mid-end
Police arrest two leaders of auto testing center in Hai Duong
HCMC – Bui Trong Quyen Anh and Ha Van Toan, deputy directors of the 34-05D auto registration and inspection center in Hai Duong Province, have been detained for allegedly taking bribes from vehicle owners. The police apprehended Pham Van Nang, aged 39, director of Thien An Company in Hai Duong,
Domestic airlines’ licenses to be reviewed
HCMC – The Ministry of Transport has asked the Civil Aviation Authority of Vietnam (CAAV) to review the licenses of domestic airlines operating commercial flights, the local media reported. The instructions, signed by Deputy Minister of Transport Le Thanh Tuan, authorized CAAV to propose measures
Halong to become national service-tourism center
HCMC – The Government has approved the master plan of Quang Ninh Province for the period of 2021-2030 and Halong City of the province until 2040, under which this coastal city will be developed into a world-class service and tourism hub, according to the local media. The general plan for Halong
Former chairman of Vietnam Education Publishing House arrested
HCMC – Nguyen Duc Thai, former chairman of the member council of the Vietnam Education Publishing House, and three others were prosecuted and arrested this afternoon, February 13. The Ministry of Public Security issued arrest warrants and filed charges against the 61-year-old Nguyen Duc Thai and
Gasoline rises, diesel falls
HCMC – Gasoline prices in Vietnam continued rising further today, February 13, while diesel oil edged down. The ministries of Industry-Trade and Finance revised the retail prices of gasoline nationwide, with RON 95-III gasoline and E5 RON 92-III bio-gasoline selling for VND23,760 and VND22,860 per
Macau to resume air services to Danang next month
HCMC – The Civil Aviation Authority of Macau, China, will resume many flights to Southeast Asian destinations, including Vietnam’s Danang City, in March to meet the rising travel demand. In addition to Danang, China’s special administrative region will restart air services to Manila in the
Red River Delta expected to be driver of economic growth
HCMC – Prime Minister Pham Minh Chinh wants the Red River Delta region, which includes 11 cities and provinces in Northern Vietnam, to further promote its role as the country’s major driver of economic growth, heard a conference held in Quang Ninh Province’s Halong City on February 12. The Red
Samsung plans world’s leading R&D center in Vietnam
HCMC – Samsung Vietnam is seeking to develop its current research and development (R&D) center in the Tay Ho Tay urban area in Hanoi City into a world’s leading one, reported the local media. Choi Joo Ho, president of Samsung Vietnam, spoke of the plan at a conference on socio-economic
Xuan Thien Group mulls oil refinery project in Ninh Binh
HCMC – Xuan Thien Group is seeking approval from local authorities to conduct a survey to develop a petrochemical and refinery complex covering around 2,500 hectares in the northern province of Ninh Binh. The petrochemical and refinery complex will be developed in three phases from 2025 to 2040,