Upbeat outlook forecast for Vietnam’s M&A market
HCMC – Investors could hope for an uplift in Vietnam’s mergers and acquisitions (M&A) market, which is showing signs of growth, especially when tight capital market conditions have forced many enterprises to undergo restructuring, sell part of their assets and call on additional investments.
Ministry proposes extending deadlines for Ben Luc-Long Thanh expy
HCMC – The Ministry of Transport is seeking permission from the prime minister to again extend the deadline for the Ben Luc–Long Thanh Expressway project until late September 2025 due to a budget shortfall. This marked the second time the ministry asked for an extension for the project. In a
Air passenger traffic soars in November
HCMC – Some 8.7 million passengers have passed through Vietnam’s airports in November, increasing by 7% over October, according to the Civil Aviation Authority of Vietnam. In comparison with the same month last year, when travel restrictions were in place, air passenger traffic this month has shot
Nearly US$7.4 billion spent on fuel imports from Jan-Oct
HCMC – Vietnam spent some US$7.4 billion importing 7.12 million tons of oil and gasoline products between January and October, up 22.7% in volume and 124% in value year-on-year. In October alone, the country’s fuel imports amounted to 602,000 tons, worth US$556 million, inching down 4.1% in volume
High lending rates dampen housing market
HCMC – Increasing interest rates are forcing homebuyers to make difficult decisions, including selling their homes to pay off their mortgages. Interest rates on consumer loans have increased by two to four percentage points against early this year to 12-13%, bringing many borrowers to their knees.
Investigators propose filing charges against 17 HCMC tax officials
HCMC – Investigators at the Ministry of Public Security have proposed pressing charges against 17 officials of the HCMC Tax Department for a lack of responsibility and supervision. Investigators earlier issued a conclusion on an expanded probe into Thuduc House, the tax department and other
Vietnam garment exports below target
HCMC – The chairman of the Vietnam Garment and Textile Association, Vu Duc Giang, has said that Vietnam’s apparel exports are expected to bring in US$42 billion by the end of 2022, below the year’s target of US$43-44 billion. In October, apparel exports generated US$3.18 billion, down 3.3%
Transport minister urges faster land clearance for Long Thanh airport
HCMC – Minister of Transport Nguyen Van Thang has requested the Airports Corporation of Vietnam (ACV) to step up land clearance for the Long Thanh International Airport project as the job is slower than expected. In a field trip to the Long Thanh airport construction site in the southern province
Ministry orders strengthening food safety after mass food poisoning
HCMC – The Ministry of Education and Training has written to provincial and municipal governments, urging them to improve food safety and clamp down on violations. It also ordered schools to strictly follow food hygiene and safety protocols, check the origin of food and food processing, and only
Some 20,000 PouYuen workers take paid leave amid order shortfall
HCMC – A fall in new orders has forced PouYuen Vietnam, a major footwear manufacturer of Taiwan, to require 20,000 of its employees to take paid leave in rotation for three months, according to the HCMC Labor Confederation. As explained by the most labor-intensive firm in HCMC, the firm’s major
Work on Dau Giay-Lien Khuong expy to begin next year
HCMC – The Transport Ministry and Lam Dong and Dong Nai provinces are finalizing preparations to start work next year on the Dau Giay-Lien Khuong expressway. The 200.3-kilometer-long expressway project includes three components, comprising the 60.1-kilometer-long Dau Giay-Tan Phu section costing
Ministry proposes amending rice import regulations
HCMC – The Ministry of Industry and Trade (MOIT) has written to the prime minister proposing amending Decree 107/2018/ND-CP on rice exports. The ministry said Vietnam usually exports 6-6.5 million tons of rice annually while statistics from the General Department of Vietnam Customs showed that the