South Korea was the largest petroleum supplier of Vietnam, with 3.22 million tons, up 96% year on year. Vietnam imported nearly 8.9 million tons of oil and petroleum products in 2022 worth $9 billion, nearly double that of the previous year, according to the General Department of Vietnam Customs (GDVC). Locals buying petrol products at a gas station in Hanoi. File photo In December 2022, the country imported nearly 950,000 tons of oil and petrol products worth $823 million, up 22% in quantity and 11% in value against November. Diesel made up a lion’s share of the imported volume with 4.74 million tons, accounting for 54% of the country's imported petroleum in 2022. In 2022, the country consumed 1.7 million tons of gasoline, 2.3 times more than in 2021; and 1.46 million tons of jet fuel, representing 2.2 times on-year, and 16% of imported oil. South Korea was the largest petroleum supplier of Vietnam, with 3.22 million tons, up more than 96% year on year; … [Read more...] about Vietnam spends US$9 billion on oil imports in 2022
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PM examines Mai Son – National Highway 45 project
PM Pham Minh Chinh inspects construction of the Mai Son-National Highway 45 project (Photo: VNA) Hanoi (VNA) - Prime Minister Pham Minh Chinh on January 28 inspected the Mai Son (Ninh Binh province)-National Highway 45 project, a section of the North-South Expressway. The first phase of the 652.86km North-South Expressway has 11 component projects, three of which are invested in the form of public-private partnership (PPP) and the rest, including the Mai Son-National Highway 45 project, are funded with public investment. The Mai Son-National Highway 45 section has a total length of 63.37km and an investment of 12.11 trillion VND (561.03 million USD). Its construction started in September 2020, and is scheduled to complete on April 30, 2023. So far, 83.7% of all workload has been finished. PM Chinh took the occasion to pay New Year visits to workers in some construction sites along the route and relocated residents at the resettlement area in Dong Minh commune, … [Read more...] about PM examines Mai Son – National Highway 45 project
Migration significant to Vietnam’s socio-economic development: IOM
Remittances contributed by migrants account for 5% of Vietnam’s gross domestic product (GDP). International migration and internal migration in Vietnam have long played a very important role in the country’s socioeconomic development and they will continue to do so. Park Mihyung, Chief of Mission of the International Organization for Migration (IOM) Vietnam, shared that view with The Hanoi Times . Park Mihyung, Chief of Mission of the International Organization for Migration (IOM) Vietnam. Photos: IOM Vietnam “If you look at the GDP, up to 5% of the country’s GDP comes from remittances contributed by international migration and that’s only recorded remittances, so it should be a lot more,” she said. For that reason, when the migration governance is done right and well, there’s a lot of positive development and contributions to Vietnam when they return and with their remittances, Park added. In addition, there’s also a recognition that … [Read more...] about Migration significant to Vietnam’s socio-economic development: IOM
Prime Minister examines Mai Son – National Highway 45 project
The first phase of the 652.86km North-South Expressway has 11 component projects, three of which are invested in the form of public-private partnership (PPP) and the rest, including the Mai Son-National Highway 45 project, are funded with public investment. The Mai Son - National Highway 45 section has a total length of 63.37km and an investment of 12.11 trillion VND (561.03 million USD). Its construction started in September 2020, and is scheduled to complete on April 30, 2023. So far, 83.7% of all workload has been finished. PM Pham Minh Chinh took the occasion to pay New Year visits to workers in some construction sites along the route and relocated residents at the resettlement area in Dong Minh commune, Dong Son district of Thanh Hoa. He later moved on to examine the Dien Chau - Bai Vot project, another component of the North-South Expressway, which connects Nghe An and Ha Tinh provinces. The PM also had a working session with relevant ministries, sectors and localities on … [Read more...] about Prime Minister examines Mai Son – National Highway 45 project