The Saigon Times interviewed Tran Ngoc Tho, Ph.D, professor at HCMC University of Economics The Saigon Times: Economists have not reached common ground on measures to contain inflation, like Joseph Stiglitz, who says raising interest rates cannot fix inflation because “it’s not going to create more food,” while Lawrence Summers urges Fed to raise interest […]

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HCMC – The HCMC Department of Transport has proposed that a 33-kilometer section of the HCMC-Can Tho express railway in HCMC should have elevated tracks to facilitate the project’s execution. At a meeting between the Ministry of Transport and localities on the express railway on June 17, deputy director of the HCMC Department of Transport […]

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HCMC – The HCMC government is calling for investment totaling over VND943.9 trillion in 197 projects this year. The city has approved a list of projects for investment attraction proposed by the municipal Department of Planning and Investment, the local media reported. The list included many traffic infrastructure projects, typically the HCMC-Moc Bai Expressway with […]

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HCMC – Residents have long insisted that five residential quarters in three wards in Thu Thiem Peninsula, HCMC are outside the boundary of the Thu Thiem New Urban Area, but the Government Inspectorate has concluded following an inspection that these quarters are inside the new urban area. The opposite views will certainly make it tough […]

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HCMC – Hoa Phat Textbook Printing JSC, which trades its HTP shares on the Hanoi Stock Exchange, is planning two share issues to raise funds for investment in two real estate companies this year. The domestic firm will inject more capital into its subsidiary Hung Vuong Developer and contribute capital to Bach Phu Thinh Company […]

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HCMC – The flight frequency on the Vietnam-China route has been increased from one to two flights per week, said the Civil Aviation Authority of Vietnam (CAAV). The Civil Aviation Administration of China (CAAC) yesterday, June 16, wrote to its Vietnamese counterpart, saying that the Chinese side has allowed the airlines of the two countries […]

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HCMC – Health centers and hospitals in HCMC are not facing a shortage of medicine, an official from the municipal Department of Health confirmed at a press briefing on June 16. Le Thien Quynh Nhu, deputy chief of the Office of the department, said the department had reviewed and worked with 77 general hospitals and […]

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HCMC – The ministries of Industry-Trade and Finance have requested the central Government to cut taxes and fees on fuels to drive down the fuel prices that have shot up to all-time highs. Rising global oil prices have sent domestic fuel prices soaring, placing an unbearable burden on the public and the business community which […]

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HCMC – Two cashless streets were launched in Danang City yesterday, June 16, to create a convenient shopping experience for residents and tourists, said a local official. Nguyen Van Linh and Tran Van Tru streets in Hai Chau District in downtown Danang were chosen to promote cashless transactions at all shops on a trial basis […]

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HCMC – The Ministry of Industry and Trade has said it is planning to boost national fuel reserves to 30 days of domestic consumption amid global oil market volatility. Nguyen Thuy Hien, deputy head of the Planning Department at the ministry, told a news briefing yesterday, June 16, that the ministry is in the process […]

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HCMC – Yeah1 Group Corporation (YEG), at its annual shareholders’ meeting on June 15, approved a plan to issue a maximum of over 78.6 million shares this year to raise its charter capital by VND786.42 billion. The shares will be offered at VND10,000 each. The proceeds from the share issue will be used to expand […]

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HCMC – The National Assembly today, June 16, voted in favor of three key expressway projects in southern Vietnam, including Chau Doc-Can Tho-Soc Trang, Khanh Hoa-Buon Ma Thuot and Bien Hoa-Vung Tau, with a total cost of over VND84 trillion. The Chau Doc-Can Tho-Soc Trang expressway will stretch 188.2 kilometers across An Giang, Can Tho, […]

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HCMC – The National Assembly (NA) this morning, June 16, adopted a resolution approving the Beltway No. 3 project in southern Vietnam, with 475 of 478 NA deputies voting in favor. The 76.3-kilometer beltway, which will link HCMC, Dong Nai, Binh Duong and Long An, will be funded by the State budget and divided into […]

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HCMC – Vietnam Airlines (VNA) yesterday, June 15, launched a direct service between Vietnam and India with its maiden flight taking off from Hanoi and arriving at the Indira Gandhi International Airport in India’s New Delhi at 14:25 (local time). The new air service is expected to significantly contribute to tightening trade, tourism, cultural and […]

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HCMC – A series of promotion programs are being rolled out in HCMC, with discounts of up to 95% on goods and services from June 15 to July 16. HCMC launched the “Shopping Season 2022” program on June 15, allowing firms to offer discounts on products and services. Over the past nine days, 448 enterprises […]

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DANANG – The Danang City Department of Natural Resources and Environment is inviting foreign and domestic enterprises to register their interest in investing in the solid waste treatment plant with a designed capacity of 1,000 tons per day. The plant will be located at the Danang City solid waste management complex and executed in the […]

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HCMC – The southern province of Dong Nai has many advantages in building and developing inland container depots (ICD), but many ICD projects, which had been approved, have yet to be implemented. The province is home to 13 rivers and canals with a total length exceeding 2,300 kilometers, while the demand for waterway transport is […]

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HCMC – A hi-tech agricultural park covering over 100 hectares has got off the ground in Cu M’gar District in the Central Highlands province of Daklak, with a total investment of more than VND700 billion. Speaking at the groundbreaking ceremony of the project held on June 10, Deputy Minister of Agriculture and Rural Development Phung […]

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HCMC – Nguyen Huy Hoang, an independent board member of Thuduc Housing Development Corporation (TDH), will assume the post of Thuduc House chairman, replacing Duong Ngoc Hai who has tendered his resignation for personal reasons. This is the third time this year that Thuduc House has changed its board chairman. In its resolution issued yesterday, […]

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HCMC – Anytime Fitness, the world’s fastest growing fitness center for 16 consecutive years, is set to open its second gym in HCMC on June 11. “Anytime Fitness’ priority is our customers. Everything we develop and put out in the community is to help our gym members be their best selves,” said Anytime Fitness Asia […]

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HCMC – Even though it was opened to traffic 40 days ago, the Trung Luong-My Thuan Expressway has seen a vehicular traffic count almost reaching the level forecast for 2025, according to the investor of the road. Some 800,000 vehicles have used the expressway since April 30, or around 23,000 vehicles per day, Tuoi Tre […]

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HCMC – The government of Long Thanh District in Dong Nai Province today, June 10, handed over an additional 40 hectares of cleared land for the Long Thanh International Airport project, taking to 93% of the total area needed for the first phase of the project. Over 35 hectares of cleared land belongs to the […]

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HCMC – The eighth Buon Ma Thuot Coffee Festival will be held in March 2023 to promote Vietnamese coffee and solidify the country’s position in the international coffee industry. The government of the Central Highlands province of Daklak on June 7 passed a plan to organize the eighth edition in 2023, the local media reported. […]

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HCMC – Thirty-four inland waterway terminals in HCMC were found operating without a license, posing a safety risk, according to the municipal Department of Transport. This also led to inequality in doing business compared to licensed terminals. The department said most owners of these unlicensed terminals assigned their employees to manage and operate them. When […]

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HANOI – The Government is determined to complete 3,000 kilometers of expressways by 2025 and 5,000 kilometers by 2030, Deputy Prime Minister Le Van Thanh told a session of the National Assembly on June 9. In the 2021-2025 period, the Government will focus on developing the first and second phases of the Eastern North-South expressway […]

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HCMC – May saw HCMC’s retail sales of goods reaching an estimated VND57.8 trillion, up 3.1% month-on-month and 13.8% year-on-year, the highest single-month growth rate since January 2019, the HCMC Department of Industry and Trade told a press briefing on June 9. The city’s retail sales made a strong rally two years after the Covid […]

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HCMC – The Government has approved a banking sector restructuring and bad debt settlement plan in which the handling of poor-performing commercial banks will be basically completed by 2025. A decision on the 2021-2025 plan signed by Deputy Prime Minister Le Minh Khai states that measures will be taken to prevent the reemergence of weak […]

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HCMC – Vietnam Airlines and Thien Minh Group, in collaboration with the Vietnamese Embassy in Japan, held a seminar on June 3 on promotion of Vietnam’s aviation and tourism services in Japan. The seminar was aimed to give updates on Vietnam’s aviation and tourism incentives to representatives of more than 50 companies and media organizations […]

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HCMC – Representatives of South Korean food delivery app BAEMIN, English learning app ELSA Speak, Vietnamese audiobook app Fonos and handcrafted board games Maztermind, have shared how digitisation helps startups develop post pandemic. At the recent RMIT Entrepreneurship Forum titled “Smart startups – How digitisation helps your startup journey,” held virtually by RMIT’s Human Resource […]

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HCMC – The No Va Land Investment Group JSC (Novaland) has announced a US$250 million financing from a consortium led by Warburg Pincus, a leading global private equity firm. This investment further reinforces Warburg Pincus’ long-term commitment to Vietnam with over US$1.5 billion pledged to date and continues Warburg Pincus’ track record of backing market […]

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QUANG BINH – The central province of Quang Binh plans to call for the private sector to build passenger terminal T2 at the Dong Hoi Airport. The Airport Corporation of Vietnam (ACV) is responsible for the investment and operation of airports nationwide, but it cannot allocate capital for Quang Binh to build the terminal. Tran Thang, […]

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HCMC – It is difficult to expedite transportation growth based on public investment only, and it is also difficult to galvanize companies to join in this journey. Investment in traffic development is characterized by high capital, a long payback time, and numerous procedures. On May 31, CT Group, with the desire to invest in traffic […]

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HCMC – Vietnam Stock Exchange (VNX) reported an after-tax profit of VND1.343 trillion in 2021, which is the consolidated earnings from HOSE and HNX, the local media reported. Established on April 13, 2021 by merging the Hochiminh Stoc Exchange (HoSE) and the Hanoi Stock Exchange (HNX), VNX in its financial report did not show any revenue […]

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HCMC – HEINEKEN Vietnam formally launched its wheat beer Edelweiss at a function in HCMC on June 2, enriching its premium beer portfolio having tested the market segment since late last year. Using the imaginery of the Alps for its premium product, the company expected the Edelweiss would give consumers a new, outstanding taste. The […]

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HCMC – Minister of Finance Ho Duc Phoc, addessing the National Asembly sitting on June 2, said that the ministry was considering tax reductions to lower prices of fuel products, now that high fuels prices are affecting the people’s livelihood and businesses. In his report delivered at the NA sitting, the minister gave answers on […]

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HCMC – The Vietnam Energy Outlook Report 2021 (EOR21) delivers a clear message that there is a great potential for green transition in Vietnam, which by 2050 can become a net zero-carbon economy as set out by Prime Minister Pham Minh Chinh during COP26. The report, developed in close cooperation between the Danish Energy Agency, […]

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HCMC – The Commission for the Management of State Capital at Enterprises has just named Nguyen Hong Hien as new board chairman of the mobile service carrier MobiFone, replacing Nguyen Manh Thang. Hien, 48, began his five-year tenure at the company yesterday. Before being installed as the top leader at MobiFone, Hien, a graduate in […]

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HCMC – The local property market has witnessed a short supply of homes in all segments, especially the budget-home segment, as there are no new projects on the market. Speaking at a recent seminar held by the Investment and Trade Promotion Center of HCMC (ITPC) in collaboration with the Vietnam International Arbitration Center (VIAC), many […]

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HCMC – As many as 1,794 trucks were still stranded at three border gates in the northern province of Lang Son as of May 30, and the problem is far from being solved soon as the number of trucks transporting goods to these border gates is increasingly huge while many are still waiting for customs […]

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HCMC – The National Assembly’s Economic Commission in a report sent to the legislative body yesterday, May 31, rang a bell of alarm over risks associated with misuse of capital raised from the corporate bond market. The commision noted that a sizeable amount of funds from the bond market has not been used according to […]

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HCMC – Traders revised up fuel prices to all-time highs beginning 3:00 p.m. today following a decision to this effect jointly issued by the ministries of Industry-Trade and Finance. The premium gasoline RON95-III now sells for VND31,573 a liter, a spike of VND920 from the previous level. Other oil products were correspondingly priced higher. E5RON92 […]

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HCMC – The fourth Vietnam Economic Forum, themed “Developing a self-reliant and independent economy associated with extensive economic integration in the new normal”, will be held in HCMC on June 5. Speaking at a press briefing yesterday, May 31, to announce the event, Nguyen Thanh Phong, deputy head of the Central Economic Commission, said that […]

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HCMC – The State Bank of Vietnam’s Inspectorate has been conducting inspections into seven banks that have invested in corporate bonds following the Prime Minister’s instruction in December ordering relevant authorities to tighten legal compliance in the stock and bond markets. The seven commercial banks subject to the inspection include Techcombank, HDBank, TPBank, SHB, PVComBank, […]

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HCMC – Danang City is rushing to complete all procedures to start work on the Lien Chieu port project in September this year, Ho Ky Minh, vice chairman of the city government, announced on May 31. The large-scale project, funded by the local budget and the private sector, is expected to contribute to the city’s […]

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HCMC – Vingroup has signed a memorandum of understanding with Intel to create a wide range of advanced computing systems, the local company said in a statement yesterday. These advanced computing systems include 5G enabled smart city and smart building solutions, smart manufacturing processes, cloud services and AI as well as advanced driver assistance systems (ADAS) based on […]

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HCMC – The index of industrial production (IIP) in Vietnam in the year to May had improved 8.3% year-on-year, with 61 out of the nation’s 63 provinces and cities recording a rise in IIP, according to the General Statistics Office (GSO). In May alone, the index inched up 4% month-on-month and 10.4% compared to the […]

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HCMC – Italian courts on May 30 sought the return of 23 remaining cashew nut containers of the 35 containers that faced a risk of being swindled in Italy in early March. The shipping containers, whose original documents were supposedly missing, were shipped to Italy through Kim Hanh Viet Company, the local media reported. They […]

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HCMC – Vietnam Airlines (HVN) has earned some US$35 million from the sale of a 35% stake in Cambodia Angkor Air. After its share sale, Cambodia Angkor Air is no longer an associate firm of Vietnam’s national flag carrier, the local media reported. In its 2021 audited consolidated financial report, Vietnam Airlines said that the transaction […]

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HCMC – HCMC Infrastructure Investment JSC (CII) has proposed developing a 14-kilometer elevated road that connects the north and the south of the city. The road will require an estimated VND38.2 trillion, over VND8 trillion higher than earlier proposed. Of the figure, VND19 trillion will be spent on site clearance and VND19.2 trillion on road […]

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HCMC – The Ba Ria-Vung Tau Department of Transport has proposed developing a VND6 trillion access road to the Bien Hoa-Vung Tau expressway, the provincial government said on May 31. Of the total investment, over VND2.1 trillion would be used for site clearance and resettlement, while the rest will be spent on construction and design. The […]

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