Major projects

The government last week decided that only domestic companies will be entitled to construct eight sections of the expressway under the public private partnership (PPP) model. But they would need to take part in a qualifying round next month before they can bid for the work. While domestic firms have enough capability to handle the construction of the expressway, they would have to borrow about 60-70 percent of total investment needed for the projects, but it is very difficult to raise such capital, said Vu Minh Hoang, vice chairman of construction firm Deo Ca. The government should, if needed, facilitate commercial banks in lending capital for the North-South Expressway projects, he said. Domestic banks typically prioritize loans for financial and real estate projects, not for those building traffic infrastructure, Hoang added. Vu Duc Nhan, a representative of Phuong Thanh Company, another construction firm, said the losses incurred by several BOT projects of late makes it more … [Read more...] about Domestic investors face capital challenge for North-South Expressway project

Illustrative photo (Source: https://www.thaipbsworld.com/) Bangkok (VNA) – The Kasikorn Research Centre (K-Research) has revised down Thailand’s economic growth this year to 2.5 percent from the initial projection of 2.8 percent and projected the next year’s growth at 2.7 percent. K-Research’s economists said they lowered the growth projections due to lackluster export performance, less-than-expected overall investment and delay in the enactment of budget expenditure bill for the fiscal year 2020. Nattaporn Triratanasirikul, K-Research Assistant Managing Director, said the economic growth next year is projected to grow 2.7 percent or within a projection range of 2.5-3.0 percent. Meanwhile, exports may continue to shrink due to poor economic performance of Thailand’s major export markets, the US-China trade war which is unlikely to be resolved anytime soon as well as the stronger Thai baht, amid the expectation of more Fed’s rate cuts which will … [Read more...] about K-Research revises down Thailand’s GDP growth to 2.5 percent

At the working session (Photo: VNA)   Hanoi (VNA) – Chairman of the Hanoi municipal People’s Committee Nguyen Duc Chung has affirmed that Hanoi always provides all possible support for foreign investors and those from Japan in particular. During a working session in Hanoi on December 10 with President and CEO of Japan’s Sumitomo Corporation Masayuki Hyodo, Chung lauded Sumitomo and the CEO himself for investing in major projects and introducing other firms to invest in the city. He said Hanoi always takes the lead nationwide in terms of foreign direct investment attraction with an estimated value of over 10 billion USD this year, raising the total investment it has attracted so far to 42 billion USD. The host said Sumitomo’s building of a smart city in the north of Hanoi will help ease pressure on the inner city. The city will cost over 4.1 billion USD and will cover 271.45ha in Vinh Ngoc and Hai Boi communes, the outlying district of Dong Anh. … [Read more...] about Hanoi commits all possible support for Japanese investors

Deputy Prime Minister Trương Hoà Bình speaks at the 2019 Đắk Lắk investment promotion conference held on March 10 in the province. VNS Photo Việt Dũng Viet Nam News Xuân Hiệp & Việt Dũng ĐẮK LẮK — Deputy Prime Minister Trương Hoà Bình has urged the Central Highlands region to build a Vietnamese coffee brand capable of competing with rivals at home and abroad. Speaking at the opening ceremony of the seventh Buôn Ma Thuột Coffee Festival on Saturday night, Bình said the region should aim to become a “world famous coffee destination”.  The area is known for its basaltic land with huge rubber and coffee plantations, he noted. “The Central Highlands region has great advantages and potential for coffee plantations and exports.” Đắk Lắk Province’s coffee products, with the … [Read more...] about Central Highlands province opens coffee festival, calls for investment

A Thai AirAsia jet takes off from Krabi airport. (Photo: Post Today) – The Department of Airports (DoA) of Thailand is planning to spend 5.8 billion baht (191 million USD) upgrading airports across the country next year. DoA Acting Director-General Thawi Kesi-samang said the huge investment in key regional airports is “urgent mission”. The department plans to conduct bids for the projects from early next year, he added. Among them are the 1.3-billion-baht construction of taxiways at Krabi airport, 800-million-baht and and 775-million-baht plans to build new terminals at Narathiwat and Buri Ram airports respectively and projects to expand airport bays (500 million baht) and an international terminal (200 million baht) at Surat Thani airport. There was also urgent need to step up construction of a new airport in Yala's Betong district, said Thawi, noting that it is scheduled to open in the middle of next year. In the 10-year airport development plan worth 35 … [Read more...] about Thailand plans to upgrade airports nationwide