Ports see Jan-Oct cargo throughput rising 3% y-o-y
HCMC – Cargo throughput at ports nationwide reached 608.3 million tons between January and October, meeting 84% of the year’s target and rising by 3% year-on-year, according to the Vietnam Maritime Administration. According to SSI Research, the shipping sector’s growth prospects remained grim in
VAT refund delays spell trouble for wood exporters
HCMC – Replanted-forest wood exporting businesses are finding it tough to claim VAT refunds, which have reached VND1,000 billion since January this year. The Association of Vietnam Timber and Forest Product (VIFOREST) has written to the Ministries of Agriculture-Rural Development and Finance,
Lenders told to meet fuel importers’ credit needs
HCMC – The central bank governor has written to commercial banks urging them to give fuel companies priority access to new loans. In an official dispatch sent to bankers, the State Bank of Vietnam (SBV) stated that fuel is a strategic commodity, so it plays an important role in macroeconomic
Savings rate hikes ease
HCMC – Commercial banks have been in a race to hike savings rates to attract clients, especially since the State Bank of Vietnam’s two recent interest rate increases. But savings rates have fallen below 10%-11% which were briefly reached. A report from the Analysis Center at SSI Research showed
BR-VT budget revenue in Jan-Oct beats year’s target
HCMC – Ba Ria-Vung Tau Province’s budget revenue in the year to October surpassed the year’s estimate by 131% and rose 31.7% year-on-year, the provincial government reported. Of the total, domestic sources accounted for over VND38,000 billion, equivalent to nearly 110% of the full-year target, up
Pangasius fish exports grow strongly
HCMC – Pangasius fish exports had amounted to US$2 billion in the year to mid-October, an increase of 81% over the same period last year. According to the Vietnam Association of Seafood Exporters and Producers, this is the strongest growth rate among Vietnam’s aqua-product exports this year.
Additional 3,000 train tickets go on sale for Tet holiday
HCMC – The railway industry will offer 3,000 more train tickets to meet the strong travel demand during the 2023 Lunar New Year holiday (Tet). The 3,000 tickets will be for the routes from Saigon, Di An and Bien Hoa train stations to those in central provinces such as Tuy Hoa, Dieu Tri, Quang Ngai
HCMC needs VND210 trillion to build six more metro lines
HCMC – The HCMC Transport Department has sent a report to the municipal government on completing the urban railway system following the Transit Oriented Development (TOD) model. As part of the department’s plan, the urban railway system in HCMC will comprise eight axis routes connecting the city’s
Petrolimex gas stations in Hanoi stay open 24/7
HCMC – The Vietnam National Petroleum Group (Petrolimex), the nation’s leading fuel trading company, has said it is keeping its all gas stations in Hanoi open 24/7 to meet the strong demand for gasoline. From now until November 13, all 96 Petrolimex gas stations in Hanoi are open round the clock.
G-bond coupons rise again
HCMC – Coupons of 10-year and 15-year Government bonds have risen 100 and 80 basis points to 4% and 4.1% annually in both primary and secondary markets, respectively. Data from the Hanoi Stock Exchange showed that 30 lots of G-bonds were auctioned in the primary market in October. Of the total, 10
HCMC needs more multistorey carparks
HCMC – The government of HCMC will build more multistorey carparks in the coming time to meet the huge demand for parking spaces. According to Ha Ngoc Truong, vice chairman of the Association of Bridges, Roads and Ports in HCMC, the general planning on bus stations and parking spaces lacks
Vietnam considers high-speed rail line
HCMC – The Ministry of Planning and Investment has thrown its weight behind a North-South express railway with a maximum speed of 180-250 km per hour as proposed by the Ministry of Transport. Both ministries will look into assessments by consultants, ask the Government for instructions and clarify