Transport

The guarantee is equivalent to 1-3% of the contract’s value as regulated in the Law on Bidding. These requirements are in line with the Government’s Resolution 20/2018 aimed at addressing the inadequacies of previous build-operate-transfer projects and ensuring the projects will be implemented as scheduled and that only qualified investors participate in them. SGT … [Read more...] about North-South expy project: Ministry says no to ineligible investors

Hanoi (VNA) - National flag carrier Vietnam Airlines has forecast a consolidated pre-tax loss for 2020 of nearly 15.18 trillion VND (over 650 million USD) due to COVID-19. At its repeatedly-delayed annual shareholders’ meeting on August 10, General Director Duong Tri Thanh said the pandemic has spread around the world and completely changed the global economy, including Vietnam’s. The International Air Transport Association has predicted that traffic levels will fall by 54.7 percent in 2020 compared to 2019, revenues will drop 419 billion USD, and airlines will post losses of over 84 billion USD. Meanwhile, 11.2 million people will likely lose their jobs in the aviation industry. Vietnam Airlines plans to suspend flights to Europe and Australia in the time ahead but is also set to resume routes to Northeast Asia and Southeast Asia in October, Thanh noted, with about three to five flights a week initially. The domestic aviation market is expected to see more than 18 … [Read more...] about Vietnam Airlines projects loss of over 650 million USD this year

Suspension will occur on Bus Route No 5 from HCM City’s Cho Lon Bus Station to Dong Nai Province’s Bien Hoa Bus Station, Bus Route No 60-1 from HCM City’s Mien Tay (Western) Bus Station to Bien Hoa Bus Station, and Bus Route No 60-2 from the University HCM City of Agro-forestry to Dong Nai Province’s Phu Tuc Bus Station. … [Read more...] about HCM City tightens control of rental accommodations to prevent COVID-19

The central bank predicted that bad debts would increase this year due to the impacts of the COVID-19 pandemic, given that 23 per cent of the total outstanding loans, or VND2 quadrillion, were in sectors suffering from the pandemic. In the best scenario, the ratio of bad debts would be at around 2.6-3 per cent by the year end. — VNS … [Read more...] about VN Asset Management Company targets to settle $2.15bil. bad debts this year

The tests were done by health and tourism authorities in the central city, now the country’s Covid-19 epicenter, on those that had registered to return to Ho Chi Minh City at the request of the latter’s Department of Health. … [Read more...] about 600 people stranded in Da Nang get tested before flying home to HCMC