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Industrial parks and gas ventures are among those that are being kickstarted after long delays Mitsui Oil Exploration is eager to remove long delays in resolving procedures in order to develop the $10-billion Block B of the O Mon gas venture. In the framework of the meeting between Prime Minister Pham Minh Chinh and executives of several major Japanese economic corporations in Hiroshima last week, Mitsui Oil president and CEO Hirotaka Hamamoto asked the PM to help settle pending issues to accelerate the project. The company has proposed a number of solutions to resolve pending issues to be able to officially develop the project as soon as June this year. Block B is located in the Malay-Tho Chu basin in southwest Vietnam, and comprises the development of a gas field and pipeline. It was announced in early 2016 and the first production was expected in the second quarter of 2020. It is considered one of the most significant gas exploitation projects in the country. PM Chinh … [Read more...] about Lack of action holding back key projects

These projects include some important routes, such as Khanh Hoa-Buon Ma Thuot, Bien Hoa-Vung Tau, Belt Road No.3 of Ho Chi Minh City , and the Belt Road No.4 of the Capital Region. The ministry reported that it has so far approved the investment policy for 59 transport project s using public investment capital for the 2021-2025 period. Among them, 41 have had their investment project approved. For the 18 remaining projects, 11 are scheduled to be approved in the second quarter, six in the third quarter and one in the fourth quarter, the ministry said. Within this year, the ministry plans to start construction of 28 projects and finish 29 others. To date, six projects have been launched as scheduled, including the upgrade of the Hanoi-Vinh and Vinh-Nha Trang sections of the Hanoi-Ho Chi Minh City railway route , two projects upgrading the Cai Mep-Thi Vai waterway route and the waterway route leading to ports in Nam Nghi Son area of Thanh Hoa province./. VNA … [Read more...] about Ten transport projects to be launched in second quarter

The Nhon-Hanoi Station metro line project, the second of its kind in Hanoi, has just had its total investment revised up by VND1,916 billion (US$82 million) and its completion date delayed until 2027. The prime minister passed a decision on Tuesday approving the cost increase and delay of the project, after considering a proposal from the municipal administration and the Ministry of Planning and Investment. According to the Cabinet leader’s decision, the completion time of the project is now 2027, while its revised price tag is VND34,826 billion ($1.4 billion). The prime minister asked the Ministry of Finance to work with the Hanoi administration and relevant agencies to complete procedures required for the capital adjustment. The Nhon-Hanoi Station metro line will run 12.5 kilometers from Nhon in Nam Tu Liem District to the Hanoi Railway Station in the downtown area, with 8.5 kilometers on elevated tracks, four kilometers underground, and one depot. Work on the metro line … [Read more...] about Hanoi’s second metro line project again encounters cost overruns, delays

River Tales is a four-minute short documentary produced by Coca-Cola about The Ocean Cleanup’s Interceptor technology in the Mekong region, shining a light on how plastic pollution is impacting the Can Tho River and the opportunity to make a tangible difference through technology and community action. The Interceptor Original is the first scalable technology solution to prevent plastic from entering the world’s oceans from rivers, and after years of planning, Interceptor 003 was first launched into the Can Tho River in December 2021 and is operated by the Department of Natural Resources and Environment of Can Tho City. Positioned downstream from the popular Can Tho floating market, the Interceptor has collected an estimated 120 tonnes of waste in its first year of deployment. A scene from the "River Tales" film. Photo by Coca-Cola Beyond financial support, Coca-Cola has contributed to The Ocean Cleanup in Vietnam including driving on-the-ground awareness of the … [Read more...] about Coca-Cola celebrates one year anniversary of Mekong cleanup project

The money includes more than VND1.6 trillion in the first stage and the remainder in the second stage, the Transport Ministry's Department of Planning and Investment said. Since the beginning of 2023, the ministry disbursed around VND28.6 trillion, or 30% of the yearly plan. This year, the prime minister assigned the Ministry of Transport to disburse over VND4.16 trillion in public investment, which is the biggest sum allocated to the ministry so far. According to the ministry's leaders and economists, it is a challenge for the ministry to fully disburse the sum, hence it requires breakthrough ways and solutions, especially amid potential risks related to the deployment of projects. In addition to the volatile increase in raw material prices that can lead to a shortage of supply when the ministry is embarking on numerous large-scale projects in several areas, experts also believed that ground clearance remains a complex task that could affect the progress of the projects. … [Read more...] about Over $222M set to be disbursed for north-south expressway project in June

Some representatives from Vietnam have garnered an overwhelming response from a remarkable total of over 436 registered projects at the regional event which shows a resurgence of architectural excellence in India, Thailand, Indonesia, and Vietnam. Mai Chau Culture Resort, Grand Tourane Nha Trang Hotel, and Ambassador Cruise Restaurants are several brands among the finalists of the Asia Architecture Design Awards 2023 (AADA). AADA categories include Best Resort Architecture Design, Best Hotel Architecture Design, Best Resort Interior Design, Best Lighting Design, and Best Furniture Accessories, among others. Tre Dining in HCM City is listed as one of the Best F&B Architecture designs. Photo: Tre Dining Those from Vietnam made an impressive display on the shortlist, demonstrating their architectural prowess. From May 30 to June 25, the jury will begin their work with 20 influential experts from various fields, including architecture, design, and real … [Read more...] about Vietnamese brands listed in Asia Architecture Design Awards’ Top 100 Outstanding Projects

Ho Chi Minh City’s economic growth will be more positive this quarter with the gross regional domestic product (GRDP) growth estimated at 5.87 percent, well above the modest 0.7 percent last quarter, chairman of the municipal People’s Committee Phan Van Mai said during a group discussion on Tuesday at the ongoing National Assembly (NA) sitting. With this result, the city may achieve an economic growth rate of 3.55 percent in the first half of the year, chairman Mai cited statistics from the General Statistics Office as saying at a group discussion on a draft resolution on piloting breakthrough policies for Ho Chi Minh City. The city’s industry and construction sector was forecast to improve 4.77 percent this quarter and 0.8 percent in the first half of the year as a whole. The sector fell 3.6 percent last quarter. Meanwhile, the service sector was expected to surge 7.16 and 4.96 percent this quarter and the first half, respectively. “This results from great efforts of the … [Read more...] about Ho Chi Minh City’s economic growth projected at 5.87 percent in Q2

Deputy PM Tran Hong Ha (R) and Dutch Ambassador to Vietnam Kees van Baar (Photo: VNA) Hanoi (VNA) – Deputy Prime Minister Tran Hong Ha welcomed Dutch firms and partners to join in the pilot scheme for rooftop solar installation in Vietnam during a reception in Hanoi on May 31 for Dutch Ambassador to Vietnam Kees van Baar. Deputy PM Ha said Vietnam and the Netherlands are strategic partners in climate change adaptation, water management, sustainable agriculture and food security. With the support of Dutch partners, he said the Vietnamese Government has issued a decision on the Master Plan for the Mekong Delta region for the 2021-2030 period, with a vision to 2050. It has adopted advanced approaches to addressing climate change, managing water resources sustainably, and forming mechanisms for regional coordination and development. He informed the diplomat that the National Power Development Plan VIII (PDP VIII) incorporates several new mechanisms, such as … [Read more...] about Vietnam welcomes international renewable energy projects: Deputy PM

A cement plant under Vicem's management in the northern province of Ha Nam. — Photo VICEM Decreased demand and increased costs have put cement makers in a difficult spot financially during the first quarter of 2023, said industry insiders and experts. They claimed demand has sharply declined in domestic and export markets while input costs have steadily risen. As a result, cement makers have been posting significant financial losses since the beginning of the year. Vicem Ha Tien Cement Joint Stock Company reported a consolidated net loss of VND85.6 billion (US$3.6 million) for the period, compared to a net profit of VND24.8 billion in the same period last year. The company said demand fell by 18.73 per cent during the first quarter of the year while input costs rose as much as VND15.2 billion, on top of a higher financial cost of VND18.4 billion due to interest rate hikes. According to Vicem Ha Tien's management, the company was trailing behind in both its quarterly and … [Read more...] about Cement industry suffers financial losses during Q1

According to recent statistics, foreign direct investment (FDI) disbursement in Vietnam in 2022 reached a record of $22.4 billion, an increase of 13.5 per cent on-year. Peter Ryder - CEO at Indochina Capital Vietnam’s attractive geographical location, ample supply of young and skilled labourers, and a consistent track record of high-performing economic growth have contributed to the country’s success in attracting FDI. Additionally, the Vietnamese government has implemented attractive incentives, making the country a desirable destination for foreign investors. One notable example of FDI in Vietnam’s high-tech sector is Samsung, which has invested heavily in the country. In December 2022, Samsung opened Southeast Asia’s largest research and development centre in Hanoi, with an estimated cost of $220 million. The company also announced plans to increase funding in Vietnam from $18 billion to $20 billion. Moreover, the Samsung Electro-mechanics Vietnam project … [Read more...] about Insights garnered in high-tech FDI