Binh Phuoc scraps 6,317-hectare Dong Phu project
HCMC – The government of Binh Phuoc Province decided yesterday, January 3, to scrap the Dong Phu Industrial and Residential Park project with an area of 6,317 hectares, according to the local media. The local authority requested relevant departments and agencies to stop their project planning and
Swire Coca-Cola takes over Coca-Cola Vietnam
HCMC – Swire Coca-Cola Limited, a wholly-owned subsidiary of Swire Pacific Limited, has announced the completion of its acquisition of Coca-Cola Beverages Vietnam Limited. The transaction marks another major investment of Swire Coca-Cola in Southeast Asia following the acquisition of the Cambodia
Thap Cham-Dalat railway restoration project proposed
HCMC – An investor has submitted to the Ministry of Transport a proposal for restoring the Thap Cham-Dalat cog rail at a total cost of VND24,920 billion. The 83.5-kilometer railway project is to be executed under the build-operate-transfer contract, connecting Phan Rang City in the coastal
Fuel prices rise further
HCMC – Gasoline prices in Vietnam continued rising by VND350 per liter from 3 p.m. today, January 3, while other fuels edged up VND110-160 per liter or kg. The ministries of Industry-Trade and Finance revised up the retail price of gasoline nationwide today, having raised the fuel prices by over
Politburo wants HCMC’s GRDP per capita to reach US$14,500 by 2030
HCMC – Party General Secretary Nguyen Phu Trong has signed Resolution 31-NQ/TW targeting HCMC’s annual growth of 8-8.5% and gross regional domestic product (GRDP) per capita of US$14,500, the Vietnam News Agency reported. The resolution sets an orientation for HCMC’s development by 2030, with a
Vietnam’s air traffic on the rise
HCMC – Vietnam served up to 55 million air passengers at local airports in 2022, a 3.7-fold increase over 2021, the year which witnessed widespread Covid-19 travel restrictions, according to the Civil Aviation Authority of Vietnam. While domestic tourists totaled 43.2 million, foreign arrivals
Party chief attends Govt’s teleconference with provinces
HCMC – Party General Secretary Nguyen Phu Trong is attending the Government’s teleconference with centrally-governed provinces and cities today, January 3, to review the nation’s socio-economic performance in 2022 and discuss development plans for this year. Unpredictable global developments and
Govt wants deposit insurance firm to expand capacity
HCMC – Deputy Prime Minister Le Minh Khai has approved a plan to develop the capacity of the Deposit Insurance of Vietnam by allowing it to raise chartered capital to VND10 trillion by 2025 and VND15 trillion by 2030. According to the plan, the Government aims to expand the insurance coverage for
Employment slumps in the last quarter of 2022
HCMC – Vietnam’s job market has seen a sharp decrease in demand in the last quarter of 2022, with workers finding it challenging to seek new jobs, according to a report released by Navigos Research, a recruitment firm. The report pointed out that employment demand in the period dropped 25% on
Fuel prices rise again after four cuts
HCMC – After dropping four times in a row, fuel prices saw an uptick yesterday, January 1. RON 95-III now sells for VND21,800 per liter, up VND1,100 against the earlier session, and E5 RON 92 is priced at VND21,020, increasing nearly VND1,050. Diesel oil rose by VND550 to VND22,150 per liter,
New Year’s Day marked by groundbreaking of 12 major expressway components
HCMC – Vietnam celebrated New Year’s Day by simultaneously launching work on 12 components of the second phase of the big-ticket North-South expressway project. The groundbreaking ceremonies for these components were held in different locations in the country, with Prime Minister Pham Minh Chinh
Over 200,000 firms join local market in 2022
HCMC – Vietnam saw 208,000 businesses being established and resuming operations in 2022, up 30% year-on-year, according to a report from the General Statistics Office (GSO). On average, there were 17,400 new market entrants a month this year. However, the report revealed that 143,000 enterprises