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/ March 6, 2021

Phan Thiet airport to start construction in March

The information was announced by Senior Lieutenant-General Tran Don, Deputy Minister of National Defense at a meeting with the south-central province's authorities Friday. In 2009, the government approved a plan to build Phan Thiet airport in beach town Phan Thiet of Binh Thuan, which lies more than four hours east of Ho Chi Minh City and currently has none. The plan said the airport would span 543 hectares (1,340 acres) to serve both civilian and military purposes and invested under the build-operate-transfer format by Hanoi-based Rang Dong JSC. It also said work would start in 2015 for the project to be finished in 2018. However, nothing had been carried out as scheduled. In 2017, Binh Thuan proposed to upgrade the civil rating of the planned airport from 4C to 4E as regulated by International Civil Aviation Organization. In specific, the province wanted to extend the airport's runway from 2,400 meters to 3,050 meters in order to raise its capabilities toward the 4E rating. The increased rating would allow it to handle Airbus A320s or equivalent sized and advanced military aircraft. The government agreed with the proposal within that year, which means the cost for the airport will stay at around VND10 trillion ($434 million). The problem with investment capital had prevented the plan to be executed. Now, the problem has been solved, said Deputy Minister Don. He said the Ministry of National Defense had previously relied on a plan to auction former Nha Trang airport in central Khanh Hoa Province to raise funds for building Phan Thiet airport. However, the government has recently agreed to build Phan Thiet airport using the state budget in the form of public investment. "The government has allocated the fund for the ministry and work on the joint-use airport should be carried out soon." If everything is to happen as planned, construction should be finished in 20 months so the airport could start operation next year, Don noted. Rang Dong JSC …

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/ March 6, 2021

New regulation on minimum trading lot at HOSE aims to keep small investors away

Around $200 billion is now in tumult after a succession of days of network congestion and the news about the required increase in minimum trading lot from 100 to 1,000 shares on the HCM City stock market. Nguyen Giang, owner of The Way Coffee, completed the procedure to open an account at SSI Hanoi Branch after hearing that the HCM CIty Stock Exchange (HOSE) was planning to increase the required minimum trading lot from 100 shares to 1,000 shares. The reason behind the plan, as explained by Le Hai Tra, HOSE’s CEO, was to ease the overload. However, this was not good news for many investors, including Giang. Because of Covid-19, he no longer can work as an outbound tour guide, which he did for 10 years. In 2020, he opened a street coffee shop. However, the third Covid-19 outbreak once again affected his business. Giang then decided to make financial investments as he has confidence in the bright prospects of the stock market. However, the calculations of the investor may fail because of HOSE’s tentative policy. If the tentative policy takes effect, Giang will have to spend VND100 million at least for every purchase transaction of VIC (Vingroup), VJC (Vietjet), VCB (Vietcombank) and VNM (Vinamilk). If buying SAB (Sabeco), he would have to spend VND180 million at least, and ifor VCF (Vinacafe Bien Hoa), he would have to spend VND240 million. These are very large amounts of money compared with Giang’s investment plan. However, Tra said the policy, once applied, would bring benefits. It would not only help ease congestion thanks to the reduction of 40-50 percent in number of transactions, but would also better protect small investors. Nguyen Duy Hung, president of SSI, also commented that this is the best choice for now to maintain the system’s operation. However, many experts and securities companies don’t share the same view. They have warned that the policy isn't in line with stock market development and discriminates against small and …

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/ April 3, 2020

Hanoi’s vital transport projects suspended to curb Covid-19 spread

The Hanoitimes - Vital transport projects in Hanoi have been suspended until April 15 with a view to curbing mass gatherings and preventing Covid-19 from spreading. Construction of Hanoi's vital transport projects, including the Nhon - Hanoi Station sky train and the viaduct of Ring Road 2, has been temporarily stopped following the government directive on enhancing social distancing, VnExpress reported. Those works have been suspended until April 15 with a view to curbing mass gatherings and containing the Covid-19 pandemic. A section of the Nhon - Hanoi Station metro project on Kim Ma Street on April 2. Photo: VNE Currently, no workers are seen on the construction site of the Nhon - Hanoi Station sky train but only a dozen of machines which are gathered in one place and covered. Before Hanoi entered social distancing, around a thousand workers and experts were present at the site day and night. After 10 years, the project’s underground sections are still being dug. The Hanoi Metropolitan Railway Management Board said that the resumption of works depends on the Covid-19 evolution. Similarly, the construction site of Viaduct of Ring Road 2 is empty as workers have 15 days off though the viaduct is expected to be inaugurated at the end of this year. Works on the Ring Road 3 viaduct project from Mai Dich overpass Thang Long bridge are still underway, however only a dozen of workers are seen on their site. Pham Anh Tu, head of Project Management Department 1 under Ministry of Transport, explained that this is a key project, and needs to be completed as the earnest time possible. However, workers have to comply with preventive measures such as body temperature check, hand sanitization and use of face masks. Some 90% of the project has been completed and it is expected to be inaugurated and opened to traffic by the year-end. As of April 3, Vietnam has recorded 233 Covid-19 patients, of which 75 have been cured and discharged from …

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