Building more value with capital projects

The workload remained huge for the transport sector in the remaining months of this year as more than VNĐ45 trillion must be disbursed. — Photo baochinhphu.vn Feasibility in disbursement must be studied carefully before proposing and approving new public – investment projects, Deputy Prime Minister Trần Lưu Quang said during a meeting with the Working Group No 3 including 17 ministries and agencies on solutions to speed up disbursement of public investment in remaining months of this year. Quang said that many projects had been raised for allocation of public investment but failed to be implemented for many years. The Ministry of Planning and Investment’s report showed that under the National Assembly’s plan, the total public investment this year was at VNĐ711.68 trillion (US$29.16 billion), in which the Working Group No 3 was in charge of nearly VNĐ43 trillion. As of August 31, the group reported the disbursement rate of 44.12 per cent, higher than the country’s average of … [Read more...] about Feasibility in disbursement must be studied carefully for future public-invested projects

The new Sunny Automotive Optech Vina project will be developed over 43 hectares in WHA Industrial Zone 1 in Nghe An . The factory will specialise in producing cameras for both mobile phones and vehicles, as well as other electronic devices. The factory is slated to go into operation in the fourth quarter of 2025, and once completed, is expected to generate jobs for 20,000 people. Sunny Group has been researching and exploring the investment site in Nghe An since July 2023. After two months, the Chinese group decided to make an investment in the locality. In March 2023, Sunny shared its plan to invest up to $2.5 billion in the northern province of Thai Nguyen, which is expected to generate $5 billion in annual revenue and create jobs for 15,000 local people. Excluding the latest investment in Nghe An, Sunny Group has already invested $130 million in four projects in Vietnam, namely Sunny Opotech, Sunny Automotive, Sunny Infrared, and Sunny Opotec. These projects produce … [Read more...] about Sunny Group to build $150-million factory in Nghe An

Combining planning with building firm defensive area Embracing and implementing the Politburo’s Conclusion No.64-KL/TW issued on October 30, 2019 on promoting the implementation of Resolution No.28-NQ/TW dated September 22, 2008 on building provinces and cities into firm defensive areas in the current context, Kim Bang district’s authorities always attach much importance to building the defensive area in line with building the all-people national defense and people's security. Especially, local programs and projects on developing the economy, culture, and society have been combined with planning on building military posture in defensive areas, with a spirit of "economic development in line with strengthening national defense and security." Therefore, the district’s authorities have closely worked with relevant forces to mobilize all economic resources to ensure defense and security, exploit local potential to attract investment and ensure social welfare, and combine … [Read more...] about Socio-economic development in line with building firm defensive areas

The building of the road using sea sand belongs to a pilot project of the Ministry of Transport to replace river sand with sea sand in construction projects. Running nearly 1 km long, the road is linked with the under-constructed Can Tho – Ca Mau Expressway and is now used for trucks to transport building materials to serve the expressway's construction. The section where sea sand was used stretches 300 m long. The rest of it is built with river sand for quality comparison. Work started on the section in late March and was completed early this month. To build it, around 5,000 cubic meters of sea sand had been extracted off the coast of nearby Tra Vinh Province. According to the Transport Ministry's My Thuan Project Management Board, which manages the road's construction, the section built by sea sand has shown no abnormal signs in quality. "The results obtained from the sea sand pilot are very positive until now," said the board's director Tran Van Thi. Environmental … [Read more...] about Sea sand used in Mekong Delta road construction amid river sand shortage

As the first local currency SLBs in Vietnam, they aim to help issuers expand their businesses while creating jobs, boosting competitiveness, and supporting the country’s low-carbon growth model. IFC’s investment comprises two elements, with about $100 million to be issued by BIM Land – a tourism and property developer in Vietnam – and approximately $50 million to be issued by Thanh Xuan JSC. Both the issuers are subsidiaries of BIM Group, a multi-sector corporation in Vietnam. The proceeds will be used to develop the Thanh Xuan Valley project in Vinh Phuc province, including an eco-friendly and unique residential community alongside a hotel complex (under the InterContinental brand), as well as other relevant services and infrastructure. IFC’s funding will also help the developers implement water- and energy-saving solutions at two BIM Land hotels – InterContinental and Regent – on Phu Quoc island. An innovative financing tool to support global sustainable development, these … [Read more...] about Vietnam’s first local currency sustainability-linked bonds aim to boost economy

Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu (R) welcomes Japan's Crown Prince Akishino and Crown Princess Kiko. (Photo: VNA) Hanoi (VNA) - Japan's Crown Prince Akishino and Crown Princess Kiko arrived in Hanoi on September 20 afternoon, starting their official visit to Vietnam on the occasion of the 50th founding anniversary of Vietnam-Japan diplomatic relations (1973-2023). The visit is hoped to contribute to further deepening the friendship between the Vietnamese and Japanese people as well as the ties between the two countries. Japan is one of the leading important and long-term partners of Vietnam. During Vietnam's 35-year path of Doi Moi (Renewal) and 50-year ties between the two countries, Japan has always supported Vietnam in international integration and socio-economic development. Particularly in recent years, the bilateral Extensive strategic partnership for peace and prosperity in Asia has seen strong and comprehensive progress. Japan … [Read more...] about Japanese Crown Prince, Crown Princess’s Vietnam visit to reinforce bilateral ties

In his speech, Pham Minh Chinh said that such challenges related to population aging, non-traditional security like climate change, epidemics, food, water resources, energy, transnational crime, and cybercrime are developing fiercely, causing serious consequences, while the global economy is facing many headwinds. According to the PM, the world is facing two choices: passively accepting challenges and risks at a very high price, or proactively adapting to, taking advantage of opportunities, solving challenges, and taking peace, stability and development cooperation as goals, the U.N. Charter and international law as the foundation, and dialogue and collaboration as tools. In particular, Vietnam chooses the second choice and hopes its partners also choose it, Pham Minh Chinh stated. Accordingly, Vietnam chooses the basic foundations to develop the country, with the goal of becoming a developing country with modern industry and high average income by 2030, and a developed, … [Read more...] about Prime Minister delivers policy speech at Georgetown University

Amid the current financial landscape, how do you see the investment appetites of global investors evolving? From the escalating interest rates that echo the world’s financial concerns to brewing geopolitical tensions, uncertainty seems to be the new norm. Louis Nguyen, chairman and CEO of Saigon Asset Management This environment has led many investors to tread with caution. A conservative streak is becoming more apparent, with a pronounced shift towards liquidity. Increasingly, investors, whether individual or institutional, are preferring the relative safety of cash holdings over more volatile investments. Vietnam, too, reflects this broader sentiment of caution. But for this Southeast Asian nation, the complexities run deeper. Beyond the external geopolitical and economic factors that influence global investment behaviours, Vietnam grapples with its own unique set of challenges. Recent internal events and policy indecisions have contributed to an atmosphere … [Read more...] about Compelling business model essential for success

The hi-tech building of the Can Tho University is the most modern of its kind in the Mekong Delta. It is part of the Can Tho University upgrading project, funded through ODA of the Japanese Government. (Photo: VNA) Tokyo (VNA) – Friendship and mutual trust based on people-to-people exchanges nurtured for many years have formed an impetus for the Vietnam - Japan relations , said Japanese Minister for Foreign Affairs Kamikawa Yoko. She made the remark in a recent interview granted to the Vietnam News Agency on the occasion of the 50th anniversary of the two countries’ diplomatic ties (September 21, 1973 - 2023). She said that over the last 50 years, the countries have developed relations in all fields thanks to tireless efforts by predecessors. One of the most important milestones of bilateral ties, which are now in their prime, was the elevation of relations to the “ extensive strategic partnership ” in 2014. Since then, Japan and Vietnam have been building … [Read more...] about Friendship, mutual trust drive Vietnam-Japan relations: Japanese Foreign Minister

Vietnam’s gross domestic product (GDP) is hoped to grow 6.46% in the third scenario when the global economy will see positive changes, and Vietnam will take drastic actions in reform and management (Photo: VietnamPlus) Hanoi (VNA) – The Central Institute for Economic Management ( CIEM ) put forwards three scenarios for Vietnam’s economic growth in 2023 at a seminar in Hanoi on July 10 to announce a report on the domestic economy in the first half of this year, and prospects for the second half. Specifically, Vietnam’s gross domestic product (GDP) is expected to grow 5.34% this year under the first scenario. The first scenario assumes the global economic development matches assessments of international organisations and Vietnam, under which the country’s export turnover is projected to drop by 5.64%, and its consumer price index (CPI) will rise 3.43%, with a trade surplus of 9.1 billion USD. Under the second as, given monetary and fiscal easing in Vietnam , the GDP … [Read more...] about CIEM forecasts three economic growth scenarios for Vietnam in 2023