Major projects

In accordance with the Law on Railway Transport, the Hanoi People’s Committee will be the main investor for the Yen Vien-Ngoc Hoi metro line. The Ministry of Transport will invest in the national railway while Hanoi will invest in the depot area for the project. The transport ministry has instructed the Railway Project Management Unit to hand over documents on the Yen Vien-Ngoc Hoi project to Hanoi authorities to speed up the process. As the stations will change from being national terminals to metro stations, the transport ministry will cooperate with relevant authorities to relocate the national railway infrastructure at the Hanoi and Giap Bat stations to make room for the Yen Vien-Ngoc Hoi project. The Yen Vien-Ngoc Hoi project, spanning 28.7 km, would have two new railway bridges over the Red River and the Duong River to replace the Long Bien Bridge and the Duong Bridge. The North-South Railway would begin from the Ngoc Hoi Station instead of the Hanoi Train Station. … [Read more...] about Hanoi train station infrastructure to be relocated for metro project

Science Switch was launched as a part of Bayer's global initiative "Making Science Make Sense" (MSMS) to help develop science literacy among students in a different and effective way. Taking place at Khan Quang Do's offices, the launch event welcomed around 80 participants representing OUCRU, Bayer, the publisher and project team members, including scientists, content developers and editors. More than 60 students from secondary and high schools in Ho Chi Minh City also attended the event. This year, the project content will mainly focus on selected topics from secondary and high school science textbooks, based on a vote by students, and feature ‌three‌ ‌methods‌ ‌of‌ ‌learning including science‌ ‌infographics‌ ‌(reading), science‌ ‌explainer‌ ‌videos (watching), and online science quizzes (practicing). Ingo Brandenburg, managing director of Bayer Vietnam. Photo by Bayer Vietnam The development process will involve scientists working in related fields, young editors … [Read more...] about Bayer Vietnam kicks off science education project

In 2020, chairman Nguyen Van Dat appointed you as CEO of Phat Dat. Taking on this new responsibility, how did you feel back then? Throughout Phat Dat's 16-year history, the chairman and founder exerted his influence on every decision. In such a context, I found myself in a favourable situation thanks to the inherited strategic orientations from the chairman and the determined management team. Besides this, Phat Dat has embarked on an ambitious plan for 2019-2023 to restructure its investment portfolio, targeting billions USD in market cap and exceeding 50 per cent in compound growth rate. Growing up inside the organisation, I am enthusiastic about Phat Dat's development. My new task, which capitalises on the past achievements and simultaneously accompanies the chairman to write Phat Dat's further development, is really challenging. When I received the appointment decision, many thoughts crossed my mind. I immediately told myself that I must live well, grow strongly, and see … [Read more...] about Phat Dat’s strategy to successfully acquire new real estate projects

A view of Nghi Son Petrochemical and Refinery Plant (Photo: baodautu.vn ) Hanoi (VNA) – The Vietnam Oil and Gas Group (Petro vietnam ) has proposed the Government invest in a petrochemical and refinery complex and national oil storage in Long Son oil and gas industrial park in Long Son commune, Vung Tau city in the southern province of Ba Ria-Vung Tau, with a total investment of nearly 19 billion USD in two phases. The complex comprises two parts – a petrochemical and refinery plant project and a project to build a national storage for crude oil and petrol products. In the first phase, the petrochemical and refinery plant will have a capacity of processing 12-13 million tonnes of crude oil per year, along with 0.66 million tonnes of condensate, LPG and Ethane. The output of the plant will be 7-9 million tonnes of petroleum and 2-3 million tonnes of petrochemicals each year. In the second phase, the plant will receive additional investments to increase its output by 3-5 … [Read more...] about PetroVietnam proposes 19-billion-USD petrochemical complex, oil storage project

Bangkok (VNA) – The Transport Ministry of Thailand is cooperating with its Malaysia n partner to develop a high-speed railway system connecting four members of the Association of Southeast Asian Nations ( ASEAN ). According to local media, Chayatan Phromsorn, permanent secretary for transport, has had a meeting with his Malaysian counterpart Isham Ishak and companies from the neighbouring country to discuss ways of cooperating to build a railway system linking the two countries. Malaysia earlier requested a high-speed rail connection with Thailand as a transit point to link up with Laos and China. Both sides have exchanged information on the project and Malaysia agreed with the idea of Thailand forming a joint working panel to discuss such a railway system connecting China, Laos, Thailand, Malaysia, and Singapore. The panel has been instructed to have a plan in place by the time ASEAN next meets to discuss transportation issues. The Malaysian officials arrived after … [Read more...] about Thailand works with Malaysia in railway projects connecting four ASEAN countries

The credit quality of real estate firms is at a good level with financial leverage below 1.5x. During the first seven months of 2022, over VND420 trillion (US$18 billion) was pumped into the real estate market. The figure could be raised to VND800 trillion ($34 billion) by the end of the year in case of favorable conditions. Investors looking at a real estate project in Me Linh District, Hanoi. Photo: Pham Hung Economist Can Van Luc, a member of the National Financial and Monetary Advisory Council, shared the view at a real estate forum held on August 17, noting the figure is huge compared to total investment capital for the economy. According to Luc, while transaction activities have been subdued in recent months, this would pose a golden opportunity to restructure the market for more sustainable growth. “In the past, real estate was widely seen as the first option when people explore fields to invest in, and that is a huge risk to the economy,” Luc said. … [Read more...] about Over US$34 billion set to pour into Vietnam’s real estate market this year

Yerkin Tatishev, founder and chairman of Kusto Group During your visit to Vietnam, you identified and reconfirmed the potential of the Vietnamese market. Could you please share your investment strategy and plan for the coming years? Over the past 10 years, we have invested in different industries in Vietnam from cement to logistics and real estate. During that time, we also gained a lot of experience. The business results of the projects are different but in general, they are positive. Through this process, we have also built strong foundations for development in Vietnam such as a network of partners, friends, and a deep understanding of the local market. The Vietnamese government is stepping up investment in infrastructure such as roads, airports and many others, in which private companies are actively participating. Investment in infrastructure will create a positive growth engine for Vietnam. The nation's infrastructure system is changing very quickly and I firmly … [Read more...] about Kusto Group diversifies its business in Vietnam

Electric motorbikes manufactured by Vinfast. Many UK businesses are looking into electric mobility industry in Vietnamwhich is expected to grow by double digits in the next few years. (Photo: VNA) Hanoi (VNS/VNA) - Many British investors are seeking investment opportunities in Vietnam in the hope of cashing in on free trade agreements ( FTA s) that Vietnam has signed with the UK and other economies worldwide. The UK-Vietnam Free Trade Agreement (UKVFTA), which officially took effect in May 2021, was one of the first trade deals inked by the UK after it left the European Union by the end of 2020, which reflected the importance of Vietnam in the UK’s trade policy. Bilateral trade and investment between the two economies have grown significantly with a growth rate of 17% last year. Data of the Foreign Investment Agency under the Ministry of Planning and Investment showed as of October 20, 2021, the UK had 439 valid projects amounting to nearly 4 billion USD in registered … [Read more...] about More British investors look at Vietnam to cash in on free trade agreements

The model is expected to be gradually replicated in other entertainment venues in the city after its initial success. The Phu Quoc District People’s Committee and WWF-Vietnam launched a model project of reducing plastic waste at tourist destinations, as part of the drive to become a plastic-free island. The launch of tourist trash cans is expected to encourage the habit of sorting and disposing of garbage on-site. Photo: VOV Under the project, there are 12 sets of tourist trash cans and two public drinking water fountains have been made available in some venues on the island, of which four trash cans were installed in Dinh Cau Temple and Bach Dang Park, and another eight were placed in Tran Hung Dao Street, Duong Dong Ward, with a total cost of nearly VND800 million (US$34,296) sponsored by WWF-Vietnam. Dinh Cau Temple and Bach Dang Park are among the most favorite destinations for tourists and locals, so these places receive the largest amount of single-use … [Read more...] about Phu Quoc, WWF-Vietnam launch plastic waste reduction model at tourist destinations

Hanoi will play a key role in connecting visitors to tourist destinations in Vietnam. The Vietnamese Ministry of Culture, Sports and Tourism needs to actively support major tourism businesses to build routes linking localities, and restart heritage digitalization with the participation of travel companies to create new tourism products. Deputy Prime Minister Vu Duc Dam speaks at the meeting. Photo: VGP This is one of the requirements made by Deputy Prime Minister Vu Duc Dam on August 17 at the meeting on removing difficulties and promoting tourism recovery so that the industry would become a key economic sector. The Deputy Prime Minister requested the Ministry of Industry and Commerce to urgently submit to the Prime Minister the adjustment of electricity prices so that accommodation establishments would be entitled to energy rates equal to those of manufacturing facilities. The Ministry of Culture, Sports and Tourism, associations, and tourism businesses … [Read more...] about Vietnam deploys diverse solutions to revive tourism industry