Bharatmala project

In accordance with the Law on Railway Transport, the Hanoi People’s Committee will be the main investor for the Yen Vien-Ngoc Hoi metro line. The Ministry of Transport will invest in the national railway while Hanoi will invest in the depot area for the project. The transport ministry has instructed the Railway Project Management Unit to hand over documents on the Yen Vien-Ngoc Hoi project to Hanoi authorities to speed up the process. As the stations will change from being national terminals to metro stations, the transport ministry will cooperate with relevant authorities to relocate the national railway infrastructure at the Hanoi and Giap Bat stations to make room for the Yen Vien-Ngoc Hoi project. The Yen Vien-Ngoc Hoi project, spanning 28.7 km, would have two new railway bridges over the Red River and the Duong River to replace the Long Bien Bridge and the Duong Bridge. The North-South Railway would begin from the Ngoc Hoi Station instead of the Hanoi Train Station. … [Read more...] about Hanoi train station infrastructure to be relocated for metro project

In 2020, chairman Nguyen Van Dat appointed you as CEO of Phat Dat. Taking on this new responsibility, how did you feel back then? Throughout Phat Dat's 16-year history, the chairman and founder exerted his influence on every decision. In such a context, I found myself in a favourable situation thanks to the inherited strategic orientations from the chairman and the determined management team. Besides this, Phat Dat has embarked on an ambitious plan for 2019-2023 to restructure its investment portfolio, targeting billions USD in market cap and exceeding 50 per cent in compound growth rate. Growing up inside the organisation, I am enthusiastic about Phat Dat's development. My new task, which capitalises on the past achievements and simultaneously accompanies the chairman to write Phat Dat's further development, is really challenging. When I received the appointment decision, many thoughts crossed my mind. I immediately told myself that I must live well, grow strongly, and see … [Read more...] about Phat Dat’s strategy to successfully acquire new real estate projects

A view of Nghi Son Petrochemical and Refinery Plant (Photo: baodautu.vn ) Hanoi (VNA) – The Vietnam Oil and Gas Group (Petro vietnam ) has proposed the Government invest in a petrochemical and refinery complex and national oil storage in Long Son oil and gas industrial park in Long Son commune, Vung Tau city in the southern province of Ba Ria-Vung Tau, with a total investment of nearly 19 billion USD in two phases. The complex comprises two parts – a petrochemical and refinery plant project and a project to build a national storage for crude oil and petrol products. In the first phase, the petrochemical and refinery plant will have a capacity of processing 12-13 million tonnes of crude oil per year, along with 0.66 million tonnes of condensate, LPG and Ethane. The output of the plant will be 7-9 million tonnes of petroleum and 2-3 million tonnes of petrochemicals each year. In the second phase, the plant will receive additional investments to increase its output by 3-5 … [Read more...] about PetroVietnam proposes 19-billion-USD petrochemical complex, oil storage project

Bangkok (VNA) – The Transport Ministry of Thailand is cooperating with its Malaysia n partner to develop a high-speed railway system connecting four members of the Association of Southeast Asian Nations ( ASEAN ). According to local media, Chayatan Phromsorn, permanent secretary for transport, has had a meeting with his Malaysian counterpart Isham Ishak and companies from the neighbouring country to discuss ways of cooperating to build a railway system linking the two countries. Malaysia earlier requested a high-speed rail connection with Thailand as a transit point to link up with Laos and China. Both sides have exchanged information on the project and Malaysia agreed with the idea of Thailand forming a joint working panel to discuss such a railway system connecting China, Laos, Thailand, Malaysia, and Singapore. The panel has been instructed to have a plan in place by the time ASEAN next meets to discuss transportation issues. The Malaysian officials arrived after … [Read more...] about Thailand works with Malaysia in railway projects connecting four ASEAN countries

The credit quality of real estate firms is at a good level with financial leverage below 1.5x. During the first seven months of 2022, over VND420 trillion (US$18 billion) was pumped into the real estate market. The figure could be raised to VND800 trillion ($34 billion) by the end of the year in case of favorable conditions. Investors looking at a real estate project in Me Linh District, Hanoi. Photo: Pham Hung Economist Can Van Luc, a member of the National Financial and Monetary Advisory Council, shared the view at a real estate forum held on August 17, noting the figure is huge compared to total investment capital for the economy. According to Luc, while transaction activities have been subdued in recent months, this would pose a golden opportunity to restructure the market for more sustainable growth. “In the past, real estate was widely seen as the first option when people explore fields to invest in, and that is a huge risk to the economy,” Luc said. … [Read more...] about Over US$34 billion set to pour into Vietnam’s real estate market this year

The model is expected to be gradually replicated in other entertainment venues in the city after its initial success. The Phu Quoc District People’s Committee and WWF-Vietnam launched a model project of reducing plastic waste at tourist destinations, as part of the drive to become a plastic-free island. The launch of tourist trash cans is expected to encourage the habit of sorting and disposing of garbage on-site. Photo: VOV Under the project, there are 12 sets of tourist trash cans and two public drinking water fountains have been made available in some venues on the island, of which four trash cans were installed in Dinh Cau Temple and Bach Dang Park, and another eight were placed in Tran Hung Dao Street, Duong Dong Ward, with a total cost of nearly VND800 million (US$34,296) sponsored by WWF-Vietnam. Dinh Cau Temple and Bach Dang Park are among the most favorite destinations for tourists and locals, so these places receive the largest amount of single-use … [Read more...] about Phu Quoc, WWF-Vietnam launch plastic waste reduction model at tourist destinations