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North-South Highway: slow site clearance and material shortage

March 1, 2021 by vietnamnet.vn

Some provinces have failed to meet the Prime Minister’s deadline for site clearance for the eastern part of the North – South Highway.

Cao tốc Bắc - Nam chậm mặt bằng, lo thiếu vật liệu

Some provinces have failed to meet the Prime Minister’s deadline for site clearance for the eastern part of the North – South Highway.

Six out of 11 sections of the eastern part of North-South Highway for the period of 2017-2020, which were converted to public investment, have started. Two other sections that are also invested by the State are expected to start in May.

According to the Ministry of Transport, site clearance has been far from expectations. The Prime Minister requested that it be generally accomplished in 2020. Nevertheless, by mid-Feb 2021, all 11 sections were struggling with site clearance. As many as 624 out of 652 kilometers of the Highway, 95.6%, have been handed over. The site handover in Ninh Binh, Thanh Hoa, Nghe An, Khanh Hoa provinces is much lower, 79.2%, 94.9%, 92%, and 91.5% respectively.

Around 80% of 11 resettlement areas are complete. Technical infrastructure has been slowly carried out. Only 30 – 38% of power, water, and telecommunication networks have been relocated.

The Transport Ministry planned to discuss directly with each province solutions for the required completion of site clearance.

Only 55.64 out of 63.37 kilometers of the Mai Son – NH45 expressway have been cleared and handed over to contractors. The section runs through three districts of Ninh Binh and eight of Thanh Hoa province. More than 8 out of 14.41km in Ninh Binh were handed over. The figure in Thanh Hoa was 47.46 out of 48.96km.

The main cause for delayed clearance in Ninh Binh is that Tam Diep district has failed to finalize the compensation price for different land types, identify persons qualified for job adjustment incentive scheme, and allocate resettlement area to a number of households.

Thanh Hoa has been facing difficulties in site clearance. It has the longest section of the Eastern part of North-South Highway, including Mai Son – NH45, NH45-Nghi Son, and Nghi Son – Dien Chau.

Mr. Nguyen Duc Trung, Deputy Director of Thanh Hoa Transport Department, said that the province has cleared 97% of the site. The slow progress was mainly due to some households’ requirements and demands beyond compensation regulations.

Inspecting the Mai Son – NH45 site with the Transport Minister Nguyen Van The on February 22, Mr. Mai Xuan Liem, Thanh Hoa Vice Chairman, said it would hand over the remaining site to contractors before March 15.

Cao tốc Bắc - Nam chậm mặt bằng, lo thiếu vật liệu

The Cao Bo – Mai Son section of the North – South Highway is expected to complete in 2021

Hard to find material sources

Apart from the slow site clearance, most contractors have faced a shortage of formation level materials (mainly soil).

Specifically, there is a lack of 1.6 million m3 of soil for Cam Lo – La Son section which passes through Quang Tri and Hue. Though there are 17 soil mines for Vinh Hao – Phan Thiet section, the supply is far below demand. The material shortage is also a problem for other sections namely Mai Son – NH45 and Phan Thiet – Dau Giay.

An additional 7 million m3 of soil and 400,000 m3 of crushed stone are needed for Nghi Son – Dien Chau section which is scheduled to launch in May.

According to some contractors, high demand for materials for the North – South Highway and section construction is being carried out simultaneously, which has led to mine owners’ increasing material prices, deepening difficulties for contractors.

Furthermore, provincial leaders have to review soil and stone mines for their approval, licensing and adjustment process. This takes a long time, affecting highway progress and quality.

Speaking about soil mine issues in his trip to inspect Mai Son – NH45 site on 22nd February, Minister Nguyen Van The demanded that provincial leaders review project and design documents to avoid the highway construction setbacks.

Vu Diep

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Site handover for North-South Expressway construction behind schedule

March 1, 2021 by sggpnews.org.vn

As the plan, the entire site of 11 component projects must be handed over in 2020, but up to now, 13 localities affected by these projects have just handed over around 624.4 out of  652.92 kilometers, accounting for 95.6 percent.

That was due to difficulties in resettlement and removal of technical infrastructures for sub-projects of the North-South Expressway project.

Amidst this situation, Minister of Transport Nguyen Van The requested relevant units to focus on solving difficulties in site clearance for the project. In addition, investors and project management units must report specific proposals along with difficulties of each project to the leaders of the Ministry of Transport and localities to handle.

Out of the six ongoing public investment component projects, three projects namely Mai Son – National Highway 45, Vinh Hao – Phan Thiet and Phan Thiet – Dau Giay have been relatively in good progress. Projects of Cam Lo – La Son, My Thuan 2 Bridge need to speed up the construction progress.

By Minh Duy- Translated by Huyen Huong

Filed Under: Uncategorized North - South Expressway project, construction progress, the site handover, Minister of Transport Nguyen Van The, National, ..., north south expressway underground, north south construction, north south expressway, north south expressway singapore, north south expressway malaysia, north south singapore expressway, north south 100 schedule, north south lake best sites, north south lake campground best sites, north south expressway vietnam

Lodgis Hospitality’s long-term vision and invesment strategy for vietnam’s tourism market

March 2, 2021 by english.thesaigontimes.vn

Lodgis Hospitality’s long-term vision and invesment strategy for vietnam’s tourism market

Lodgis Hospitality, the investment partnership between the leading global private equity firm Warburg Pincus and Vietnam’s leading investment manager, VinaCapital, is focused on Vietnam’s tourism industry, with the strategic aim to support the development of Vietnam as an international tourism destination by delivering a range of high-quality hospitality real estate developments and services.

Vietnam – a timeless charm

Vietnam – a truly fascinating country, offers a 3,260km coastline, connecting the North and South with white-sand beaches. Beyond its significant coast, the country boasts overlapping ranges of mountains, primeval forests, and world famous caves.  The destination is also known for its rich history, deep culture and arts, and unique street food cuisine.  More than its diverse natural landscape, Vietnam also has vibrant cosmopolitan cities such as Hanoi and Ho Chi Minh, each with its own distinct ambience and rhythm. Hanoi offers a traditional setting with heritage dating back 1,000 years. Ho Chi Minh City is a high-energy urban and business center with skyscrapers and a bustling streetscape. There are also the idyllic landscapes of the Vietnamese countryside and craft villages. These include bountiful fruit orchards across the Mekong Delta; narrow Hoi An streets adorned with bright red Bougainvillea trellises of ancient yellow houses; and, the terraced paddy fields in Sapa.

Vietnam and its timeless beauty.

Vietnam has become one of the top destinations in the Asia-Pacific region, attracting tourists from all over the world. The U.S – based Go Overseas website ranked Vietnam 8th in its list of top 10 travel destinations for 2019, saying the nation is “filled with beauty at every turn”. As a home to eight UNESCO World Heritage sites, Vietnam was also rated as one of the 10 most unique destinations in Southeast Asia in 2019 by The Quarterly Tourism Monitor, while Condé Nast Traveler ranked Vietnam at 9th out of 20 favorite destinations of 2020.

Factors that accelerate Vietnamese tourism into an economic juggernaut

Prior to 2020, the global demand for travel and tourism was booming around the world, with growth of roughly 4 percent per annum expected over the next decade (2019-2029). In addition, Vietnam’s GDP growth, young population, and rapidly expanding middle class are factors driving tourism. According to World Banks statistics, between 2002 and 2018, GDP per capita in Vietnam increased by 2.7 times, while real GDP grew by an estimated 7 percent in 2019 – one of the fastest growth rates in the region. According to the International Monetary Fund (IMF), Vietnam’s GDP per capita ranks 5th in ASEAN, reaching US$5,212 by 2025.

Demographic change with a population of 96.2 million in 2019 is expected to increase to 120 million by 2050. Moreover, the proportion of the young population under 35 is around 55.5% according to the Census Report 2019; while Vietnam’s new middle class is expected to reach 26% of total population by 2026 – all these factors will drive robust demand for tourism. Domestic tourism has experienced an excellent surge – a four-fold increase in the number of domestic traveler-trips, from 20.5 million in 2008 to 80 million in 2018. Generally speaking, in the period 2015-2019, the tourism industry had significant growth rate of 22.7%. According to the World Economic Forum’s 2019 Tourism Competitiveness Index (WEF), Vietnam ranked 32nd globally (out of 120 countries) in terms of quantity and attractiveness of natural resources and culture, and 3rd in Southeast Asia (after Indonesia and Thailand).

The direct contribution of tourism to GDP is also increasing. If in 2015, tourism contributed 6.3% to the national GDP, the rate in 2019 was 9.2%. Tourism is gradually aiming to become a key economic sector according to the Politburo’s Resolution 08-NQ / TW dated January 16, 2017.

Despite the current situation of the Covid-19 pandemic, Vietnam’s tourism has remained relatively resilient thanks to strong local demand and the Vietnam Government’s leadership and success in limiting the number of cases, contact tracing and social distancing.  Once international travel resumes, Vietnam’s tourism growth will be furthered, creating significant economic opportunities for Southeast Asia travel destinations.

By 2030, tourism is set to become a key industry, making Vietnam one of the top 30 most-competitive tourism countries in the world with an average growth rate of 11-12%/year, contributing 15-17% to GDP.

Lodgis Hospitality – Vietnam’s leading fully-integrated hospitality investment platform with a proven track record

Realizing the enormous long-term potential of the tourism market in Vietnam, in 2016, Warburg Pincus, VinaCapital and its co-founder Don Lam established Lodgis Hospitality with the vision to aggregate a portfolio of high-quality hospitality assets and build an institutional grade, fully-integrated lodging investment platform.

With its operating headquarters in Ho Chi Minh City as well as with offices in Singapore and Bangkok, Lodgis has a team of highly experienced and dedicated industry professionals with disciplines in investment, asset management, development, project management, design and operations. Through its wholly-owned hotel management company – Fusion Hotels and Resorts – the company provides management and design consultancy services across a suite of brands including Fusion Resorts, Fusion Suites, Fusion Originals, Maia, Hiive, Glow, Glow the Premium Collection and Glow Inn.

Today, Lodgis has amassed a portfolio of best-in-class hospitality assets across Vietnam and Southeast Asia represented with more than 30 hotels, approximately 3,000 rooms under ownership and approximately 3,100 rooms managed. Leading luxury properties include one-of-a-kind hotels such as the Sofitel Legend Metropole Hanoi, Raffles Le Royal Phnom Penh, and Raffles Siem Reap.

Lodgis owns and manages one of Vietnam’s leading, large-scale integrated resorts – Ho Tram Strip Complex – located outside of Ho Chi Minh City, which has the 5-star InterContinental Grand Ho Tram, Holiday Inn Resort, an international quality casino and Vietnam’s first-ranked golf course.

Fusion Hotels and Resorts has representation in all of the leading cities and resort destinations in Vietnam including Ho Chi Minh City, Da Nang, Cam Ranh, Phu Quoc, Quy Nhon, Vung Tau with many more flags under discussion. Glow has properties in Thailand’s most popular markets including Bangkok, Phuket, Pattaya, and Krabi.

Ho Tram Strip Complex has the 5-star InterContinental Grand Ho Tram, Holiday Inn Resort, an international quality casino and Vietnam’s first-ranked golf course.

Among the most exciting projects at Lodgis is the planned launch and development of the Ixora Ho Tram by Fusion located at the Ho Tram Strip Complex, set along the beachfront. This exclusive beachfront development designed by leading international consultants will have 46 pool villas and 164 condotels.  Ixora Ho Tram by Fusion will be part of the broader integrated Ho Tram Strip Complex, providing guests a number of restaurant and entertainment options, whilst having a strong sense of privacy.  Ho Tram is conveniently located an approximately 2-hour drive from Ho Chi Minh City.  This location will benefit from the existing and upcoming infrastructure such as Ho Chi Minh – Long Thanh – Dau Giay Expressway, Ben Luc – Long Thanh Expressway, Bien Hoa – Vung Tau Expressway, Dau Giay – Phan Thiet Expressway, Long Thanh International Airport, Cai Mep Thi Vai Port. Ixora Ho Tram by Fusion is expected to offer appealing long-term investment potential.

In discussing our long-term Vietnam investment strategy, Mr. Peter T. Meyer, CEO of Lodgis Hospitality, shared: “Vietnam is a beautiful country, ranking among the most exciting travel markets.  With its natural beauty, interesting history, unique culture, appealing cuisine, and strong hospitality, it is a very attractive international destination. Given its great prospects, Vietnam is central to our investment strategy.  We hope to play our part in further developing Vietnam into a world-class tourism destination.”

Filed Under: Uncategorized SaiGon Times Daily, SaiGon Times tieng anh, thời báo kinh tế sài gòn, báo kinh tế việt nam bằng tiếng anh, tin kinh te, kinh te viet..., what is the best investment strategy for the long term, marketing strategies in tourism industry, long term stock market chart, kindred long term care hospital

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