Investment

Transport ministry makes low capital disbursementsBy Le Anh The ODA-funded Ben Luc-Long Thanh Expressway in southern Vietnam has fallen behind on its capital disbursement schedule – PHOTO: LE ANH HCMC – The Ministry of Transport disbursed some VND13.7 trillion (US$588 million) for transport projects, equivalent to 52.2% of the full-year target, as of late last month, according to a report by the Planning and Investment Department under the ministry. The report said a total of more than VND26.3 trillion (US$1.12 billion) in investment capital has been allocated to the ministry this year. The amount includes some VND14.1 trillion in foreign capital, VND5.8 trillion in domestic capital and VND2.6 trillion in government bonds. The undisbursed capital was mainly tied to projects using official development assistance loans (ODA) and government bonds. The ministry ascribed the lower-than-expected capital disbursement to low demolition and site clearance works; heavy and … [Read more...] about Transport ministry makes low capital disbursements

Vietnam more focused on project quality: PMThe Saigon Times Daily Prime Minister Nguyen Xuan Phuc speaks at a roundtable meeting with Japanese realty firms on October 9 – PHOTO: VNA HCMC – The Vietnamese Government will prioritize the quality of investment projects instead of amassing a large quantity, said Prime Minister Nguyen Xuan Phuc at the Mekong-Japan Business Forum held in Tokyo on Tuesday, October 9, reported the Vietnam News Agency. The Vietnamese Prime Minister and leaders of other Greater Mekong Sub-region (GMS) countries attended the event, held by the Japan External Trade Organization (JETRO), with the participation of some 600 enterprises from the GMS nations and Japan. Phuc noted that the Mekong region, located in the center of Asia with dynamic development, is rising as a result of its determination, potential and strength. According to a JETRO report, the GMS region has rapidly changed in both “hard and soft” aspects in recent years. … [Read more...] about Vietnam more focused on project quality: PM

Anxiety persists despite surplusBy Ngoc Khanh Foreign tourists taking photos in downtown HCMC. In the first eight months of 2018, Vietnam welcomed 10.4 million international arrivals, a jump of 22.4% year-on-year. The country needs to cultivate new internal driving forces for her economy - PHOTO: THANH HOA It’s time Vietnam found for herself new drivers instead of waiting for more mega FDI projects. Latest data from the General Department of Customs show that Vietnam enjoyed a trade surplus of as much as US$2.1 billion in August, making the total value in the first eight months amount to US$4.6 billion. This is a record high for many years. Given that the way things are going, Vietnam’s balance of trade for the whole year should be positive. If this scenario plays out, it will mark the third consecutive year the country has achieved a trade surplus. Trade surplus is a very important factor for Vietnam to keep her current account positive. It should be noted that … [Read more...] about Anxiety persists despite surplus

First 35-MW solar power plant inaugurated in Vietnam The Saigon Times Daily A solar power system is installed on the roof of a building in HCMC in this file photo. TTC Phong Dien solar power plant in Thua-Thien Hue Province was opened to service on October 5, becoming the first commercial solar power project in the country - PHOTO: VGP HCMC - Gia Lai Electricity JSC (GEC), a unit of Thanh Thanh Cong (TTC) Group, opened the TTC Phong Dien solar power plant on October 5 in Phong Dien District, Thue-Thien Hue Province. This 35-megawatt solar power facility is the first such project to start commercial operation in Vietnam, local media reported. The plant, which was funded by GEC at a cost of nearly VND1 trillion, is expected to generate some 60 million kWh of electricity per year, contributing to the planned development of power sources and grids, while ensuring the safe operation of the national power grid and efficient investments. The TTC Phong Dien solar power plant is about … [Read more...] about First 35-MW solar power plant inaugurated in Vietnam

European companies optimistic about business environmentBy Le Hoang A worker is seen at a foreign invested company in Vietnam in this file photo. European companies are more positive about doing business in the country - PHOTO: LE HOANG HCMC – New data from the Business Climate Index (BCI) of the European Chamber of Commerce in Vietnam (EuroCham), released on October 3, shows that European companies are more positive about doing business in the country. This growing confidence in Vietnam’s trade and investment environment can be seen in a six-point jump from the first quarter to the second quarter of 2018. The latest BCI results show that the sentiment of European businesses is at its strongest in 18 months and just two points below the all-time high of Quarter 3 of 2016. EuroCham members also reported an optimistic outlook on a range of issues, from their own investment and profit projections to workforce levels and Vietnam’s macroeconomic outlook. Over 70% … [Read more...] about European companies optimistic about business environment