Fuel supply enough for Lunar New Year consumption
HCMC – Given the current volume of fuel imports and stockpiles, Vietnam has enough fuel supply to satisfy the increasing demand during the Lunar New Year 2023, Trinh Quang Khanh, vice president of the Vietnam Petroleum Association said on December 8. The country’s two oil refineries, Binh Son and
HCMC cancels 169 long-delayed housing projects
HCMC – Cracking the whip against delayed projects, HCMC canceled 169 out of 357 long-delayed housing projects. At the eighth session of the 10th-tenure HCMC People’s Council, Nguyen Toan Thang, director of the Natural Resources and Environment Department, said that the department had joined hands
Digital tech product exports forecast at US$136 billion
HCMC – Vietnam’s digital technology product exports are estimated to gain US$136 billion this year, indicating the role of digital technology in the country’s renovation and creativity. The fourth national forum on the development of digital technology companies in 2022 began in Hanoi on December
Bac Ninh seeks approval for elevated railway
HCMC – The northern province of Bac Ninh is seeking the prime minister’s approval for developing the Lim-Pha Lai railway on a viaduct instead of on the ground as planned to optimize the use of urban land. The Bac Ninh government said that building the Lim-Pha Lai rail route on the ground could
Steel sales plunge to two-year low
HCMC – Vietnam’s steel sales in October slid to a two-year low amid the woes faced by the real estate industry. The country’s steel production topped two million tons in October, down 16% month-on-month and 29% year-on-year, while sales stood at around 1.9 million tons, a decline of 29% over the
HCMC proposes increasing land price coefficients in 2023
HCMC – The government of HCMC has proposed revising up the coefficients for land prices by a notch to 2.5-3.5 during a meeting held yesterday, December 7. The coefficients are set by provincial-level authorities, used for land price calculation and revised annually based on the local real estate
European businesses plan investment expansion in Vietnam
HCMC – European businesses are looking forward to growing operations in Vietnam in a range of sectors, according to the European Chamber of Commerce in Vietnam (EuroCham). According to a recent EuroCham analysis, half of the enterprises polled remain optimistic about Vietnam’s economic recovery,
Budget collection from real estate sector slows in H2
HCMC – Though the tax revenue from the real estate industry has exceeded the year’s goal, it has kept sliding since June. According to General Department of Taxation data, revenue from housing and land in the year to November had accounted for 17.2% of the total tax collection, at over VND222.6
Provinces set to launch price stabilization programs ahead of Tet
HCMC – Many provinces and cities in Vietnam will launch price stabilization programs in in the lead up to the Lunar New Year 2023 holiday at a total cost of trillions of Vietnamese dong. The Lunar New Year holiday is a special time for family reunion, which always drives up the demand for
HCMC wants 17 public-invested projects suspended
HCMC – The HCMC People’s Committee has proposed suspending 17 long-delayed public-invested projects to save over VND1,400 billion for more important ones. On December 7, the HCMC People’s Council began its eighth and year-end session to review and discuss key factors for the city’s development. As
Thu Duc needs new mechanism for development
HCMC – Despite its huge development potential, Thu Duc City still faces numerous outstanding issues and obstacles; therefore, the city needs to be granted a special mechanism for development, according to the Institute for Policy Research and Media Development (IPS). Asynchronous infrastructure
Vietnam imports nearly US$190 million of pork in Jan-Oct
HCMC – Vietnam had imported 89,000 tons of pork products worth US$189.02 million in the year to October, contracting over 34% in volume and nearly 40% in value year-on-year, according to the Foreign Trade Agency under the Ministry of Industry and Trade. In October alone, the country spent some