Panipat refinery expansion project

The investor of a tourism project in the northern province of Hoa Binh has just been fined for carrying out vast site clearance at a local forest despite having not received a licence from local authorities. A tourism project in the northern province of Hoa Binh has carried out vast site clearance at a local forest despite having not received a licence from local authorities. Between April-September 2022, Legacy Riverside Company was approved by local authorities to conduct a geological survey for their Dong Truong Son Ecological Resort which was planned to cover 98 hectares in Luong Son District. However, the company sent lots of machinery to the site and destroyed a large area of forest. According to residents in Tan Vinh Commune, the Legacy Riverside Company started site clearance work in the local forest in 2022 and more forest area had been destroyed in early 2023 but local authorities took no action. It was not until April 2023 that Tan Vinh Commune … [Read more...] about Hoa Binh tourism investor fined for unlicensed project

Thua Thien - Hue grants investment licences to nine projects in the first five months of 2023. (Photo: VNA) Hanoi (VNS/VNA) - Since the beginning of the year, nine new projects have been granted investment licences by central Thua Thien - Hue province with a total investment of more than 2 trillion VND (85 million USD), according to a report by the provincial Department of Planning and Investment. Of the total investment, five are FDI projects with registered capital of 28.5 million USD. The growth rate of the province’s GRDP in the first quarter is estimated at 6.61%, higher than the national average of 3.32%, and is expected to increase from 7.5% to 8.5% in the second quarter, a representative of the department said at the recent regular meeting. Import and export turnover in May rose month-on-month but decreased over last year. Many industrial production sectors, such as textiles, garments, cement, wood chips, and power generation, have slowed down. Especially, … [Read more...] about Thua Thien – Hue grants investment licences to nine projects

The proposal was sent by the Dong Nai People’s Committee to the government regarding the relocation for people affected by the expressway. The Loc An-Binh Son relocation area for people affected by Long Thanh, slated to be Vietnam's largest airport, spans over 280 ha and has over 7,000 slots. A total of 4,900 slots are for those affected by the airport’s construction, and 350 are for those affected by the construction of two roads that connect with the airport. Now Dong Nai wants the other 1,800 slots to be used for the relocation of people affected by the Bien Hoa-Vung Tau expressway project, whose main investor will be responsible for refunding investment costs to the national budget, provincial authorities said. The first phase of the Bien Hoa-Vung Tau expressway, spanning 53.7 km and having four to six lanes, costs over VND17.8 trillion ($757.4 million). For its construction, Dong Nai authorities have reclaimed around 400 ha of land in Bien Hoa City and Long Thanh District, … [Read more...] about Southern province wants 1,800 Long Thanh airport relocation slots for expressway project

In early April, the Board of Directors at Nam Viet JSC, a seafood producer in the southern region, gave the nod to the decision on dissolving Nam Viet Real Estate Co., Ltd. This company, based in Long Xuyen city in the Mekong delta province of An Giang, was founded in March 2022 to operate in real estate. Real estate might not always prove a fertile venture At the inception, the company had $3.5 million in chartered capital, which was scaled down to around $391,300 in mid-June 2022 before terminating operation in the recent past. At the company’s 2022 general annual shareholders meeting in June, CEO Doan Toi told shareholders that the company owned land, and that they would unveil two real estate projects later in the year, and another two in 2023. Last year, Nam Viet set an ambitious pre-tax profit target of VND1 trillion ($43.4 million) compared to a mere $6.5 million pre-tax profit posted in 2021, and committed to maintaining its profit in the range of a … [Read more...] about Core business key as companies pull out of real estate

The vision is for Hanoi to become a vibrant, green, and serene metropolis with the Red River landscape axis. "For a long time, people often say that Hanoi has turned its back on the Red River," Nguyen Van Loc, a 60-year-old resident of Phuc Tan Ward, Hoan Kiem District, told The Hanoi Times as he gazed out at the vast expanse of lush green land ahead, with thriving banana plantations growing on the fertile alluvial plains known as the Red River Alluvial Island (or Bai giua song Hong in Vietnamese). The Middle Island of the Red River. Photo: Chien Cong/The Hanoi Times Spanning around 18 hectares and stretching 3.8 kilometers in length, the area is under the jurisdiction of Chuong Duong and Phuc Tan wards, Hoan Kiem District. For many years, a significant portion of the alluvial island has been tilled by over 30 households for vegetable production. However, there is still a portion of the land that remains vacant and covered with overgrown reeds. "It is … [Read more...] about Red River – a centerpiece in Hanoi’s green development

Asia’s increased borrowing in recent decades has augmented the region’s exposure to rising interest rates and heightened market volatility, said the International Monetary Fund (IMF). According to the IMF’s latest report on May 25, over 18 per cent of Vietnamese enterprises were found to have an interest coverage ratio (ICR) below one, indicating a high risk of default as of June 2022. Additionally, 18.32 per cent of companies had an ICR between 1-4, making them vulnerable to increased borrowing costs, while 63.36 per cent had an ICR of four, signalling a good debt repayment capacity. The report attributes the heightened risks to the rising cost of borrowing, as central banks tighten monetary policies and increase interest rates to combat inflation. Despite maintaining growth rates, companies face significant pressure due to higher borrowing costs, reducing their ability to repay debts. As of mid-2022, 17 per cent of Asia’s corporate debt was held by firms with interest … [Read more...] about IMF highlights rising debt risks for Asian companies

Vietnamese Minister of Foreign Affairs Bui Thanh Son . (Photo: VNA) Paris (VNA) – Vietnamese Ambassador to France Dinh Toan Thang has said Vietnamese Minister of Foreign Affairs Bui Thanh Son’s attendance at the 2023 Organisation for Economic Cooperation and Development (OECD) Ministerial Council Meeting (MCM) and official visit to France from June 5-8 would provide an opportunity to reaffirm the common perception of the vision of the bilateral relations and the determination to promote deeper and closer connections between the two countries, particularly in meeting their requirements in the new context. In an interview granted to the Vietnam News Agency (VNA)'s resident correspondents in Paris, Thang said it is the first visit to France by a Vietnamese Minister of Foreign Affairs since the two countries upgraded their relationship to a strategic partnership a decade ago. It is also meant to celebrate the 50th anniversary of bilateral diplomatic ties and the 10th … [Read more...] about FM’s France visit to reaffirm common perception of vision of bilateral ties: Ambassador

A view of Nam Cau Kien Eco-Industrial Park in Hai Phong. — VNA/VNS Photo Tran Viet The development of eco-industrial parks is considered an effective solution to contribute to completing the net zero emission target by 2050 in Viet Nam. However, there are still many problems with the mechanism. In a report on the development of industrial parks and economic zones conducted by the Ministry of Planning and Investment, by 2030, 40-50 per cent of localities will have plans to convert existing industrial parks to eco-industrial parks, and 8-10 per cent of localities have orientations to build new ecological industrial parks. This will contribute to the concretisation of the net zero commitment by 2050. However, many experts and businesses believe that it is necessary to have the determination of the businesses to achieve this goal, along with preferential policies and mechanisms. Now, Viet Nam has more than 400 industrial parks, but few of those industrial parks have strategies to … [Read more...] about Eco-industrial park development targets net zero emissions

One significant event showcasing unique local culture is the Trang An Festival 2023, which included a wide range of traditional art and cultural activities. Visitors were particularly drawn to the exhibition displaying more than 30 photo negatives highlighting unique local culture . Many exhibitions, cultural festivals, and art exchanges have been held in Ninh Binh, highlighting the richness and diversity of the local culture and promoting solidarity in the community. To boost sustainable tourism development, Ninh Binh has implemented various projects and plans to preserve and promote its cultural heritage, which has become a vital resource and soft power for local development. More than 200 traditional festivals have been held around the province so far. It has also been successful in creating unique tour packages that incorporate traditional craft villages and spiritual-historical relics. With its unique blend of cross-cultural influences and natural wonders, … [Read more...] about Ninh Binh promoting cultural values for sustainable tourism

There is a wind farm located in the coastal area of Vinh Trach Dong commune, more than 10km from Bac Lieu city centre. This was Vietnam’s first wind power project, built in 2010 with investment in the trillions of VND. With a landscape as beautiful as a European sky, the area quickly became a tourist attraction. The arrangement of the turbines combined with local roads makes travel easy, and visitors can go from one area to another without any problems. The most suitable time to visit is early morning or late afternoon, when you can enjoy the sunrise and sunset over the sea. Bac Lieu’s wind power area has been recognised by the Mekong Delta Tourism Association as an outstanding tourist destination in the Delta, with nine typical tourist attractions./. VNA … [Read more...] about Stunning wind farm in Bac Lieu province