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Deputy Chairman of the municipal People’s Committee Vo Van Hoan has just signed a decision to allocate money for the preferential loan program for buying and renting social houses of this year. The program is also for those who ask for loans for repairing their own houses according to the government’s decree 100/2015. Directors of branches of Vietnam Bank for Social Policies in districts and Thu Duc City submitted their credit plan as per the decision for further implementation. Additionally,  Directors of Vietnam Bank for Social Policies branches will be responsible for allocation and supervision of implementation procedure to ensure the money is used effectively. By Hanh Nhung - Translated by Anh Quan …

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Vietnam needs over US$128 billion for power investment next 10 years A drone is used to inspect a power transmission system in Vietnam. The country will need an estimated US$128.3 billion for developing the power system in the next decade The Institute of Energy, under the Ministry of Industry and Trade, on February 22 continued to collect feedback over the plan from the relevant agencies. According to the plan, during the 10-year period, Vietnam will need to pour some US$12.8 billion on average into the power sector per year. The total investment for the following 15 years from 2031 to 2045 will be some US$192 billion, including some US$140 billion for power sources and US$52 billion for the grid. The draft zoning plan also revealed that Vietnam will continue to import electricity from China, Laos and Cambodia in the next 10 years. The State-run Vietnam Electricity Group is purchasing electricity from China through two 220kV power lines, with 1.5 billion kWh of power being bought annually during the 2016-2020 period. This northern neighboring market can sell up to 3,000 MW of electricity or more to Vietnam from now until 2030. Petrol prices rise under latest adjustment The Ministries of Industry and Trade and Finance revised petrol prices upwards as of 3pm on February 25, marking the first increase since the traditional Lunar New Year (Tet) holiday. The retail price of E5RON92 bio-fuel rose nearly 700 VND to 17,031 VND (0.74 USD) per litre at a maximum, while that of RON 95 increased over 700 VND to 18,084 VND per litre. Diesel 0.05S and kerosene, meanwhile, are now no more than 13,843 VND and 12,610 VND per litre, up by around 800 VND and 700 VND, respectively. According to the two ministries, the prices of petrol and oil in the global market have been rising strongly for 15 days, hence the adjustment. The two review fuel prices every 15 days to ensure domestic prices are in keeping with the global market./. Aquatic product …

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The Hanoitimes - Taking into account the size of the Vietnamese economy, a large proportion of the state budget allocated for infrastructure development would affect the balance of payment and the economy. Vietnam is currently struggling to mobilize funds for infrastructure development, evidenced by the country’s state budget allocation of 5.7% of the GDP for such projects, the highest ratio in Southeast Asia, according to Lynn Tho, representative of Ernst & Young. Overview of the conference. Source: VGP. As funding from state budget remains limited, mobilizing private funds for infrastructure projects is a viable option for Vietnam, said Tho at a conference discussing the public-private partnership (PPP) mechanism in Vietnam’s context on January 15, the governmental portal reported. According to the Global Competitiveness Report 2017 – 2018 of the World Economic Forum, Vietnam ranked 79 th out of 137 countries and territories in terms of quality of the infrastructure system. Additionally, only 20% of Vietnam’s roads are asphalted, significantly lower than other countries such as Malaysia, India and Indonesia. The Asian Development Bank (ADB) estimated Vietnam would need around US$480 billion for infrastructure development in the 2017 – 2030 period. However, given the fact that Vietnam's modest economic size is restricting capital accumulation capacity, a large proportion of state budget allocated for infrastructure development would affect the balance of payments and cause public debt to swell. Addressing the conference, Country Director of the World Bank in Vietnam Ousmane Dione said the PPP mechanism would bring benefits for Vietnam, but fiscal risk remains the most challenging issue. Dione said some think the PPP investment is a way to have free infrastructure, or a solution to overcome financial difficulties. Moreover, most PPP projects in Vietnam are direct contracting, posing potential risks of losses to the state …

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