Infrastructure spending what is

HCM City had laid out plans for eight major transport infrastructure projects from now to 2025. The list includes the HCM City-Moc Bai Expressway project with an investment of VND16 trillion (USD689.65 million) and VND9.98 trillion Can Gio Bridge. HCM City plans major transport infrastructure projects (photo by VOV) Other projects comprise a VND6.2 trillion inland container depot, the VND5.3 trillion Thu Thiem Bridge 4, the VND1.33 trillion HCM City-Chon Thanh Highway, a VND1.76 trillion road to link Vo Van Kiet Highway to HCM City-Trung Luong Highway. However, funds for the Belt Road 4 project has not yet been disclosed. The Department of Transport has been asked to conduct feasibility studies on all the projects. … [Read more...] about HCM City plans major transport infrastructure projects

Tourism is an important contributor for VN's economy. Risk of slow growth Many forecasts released recently believe that Vietnam's economy will recover stronger. The GDP growth rate in the first quarter of the year is estimated at 5.03 percent, inflation is well under control so far, and the Consumer Price Index (CPI) in the first four months of the year has increased by 2.1 percent. However, despite optimism about the prospect of recovery, all forecasts warn that Vietnam needs to be cautious with the risk of slow growth against rising inflation. Asso. Prof. Dr. To Trung Thanh from the National Economics University, said that with the pandemic situation well under control and the economy receiving a boost from the new economic recovery support package, now economic growth can reach a target of 6.5 percent as expected. However, even if the growth rate reaches 6.5 percent, the average growth rate for the period 2020 to 2022 will be only 4 percent, much lower than the average … [Read more...] about Mindset change needed to face rising inflation

Revenues were VND2.28 quadrillion and spending was VND2.53 trillion, resulting in a VND216.4 trillion ($9.3 billion) deficit, or around 3.44 percent of GDP. The deficit was sharply up from VND161.5 trillion the previous year, but was below the cap of VND368.3 trillion set by lawmakers. State Auditor General Tran Sy Thanh said revenues fell short of estimates, especially accruals from land use fees, which were only 72 percent of the target, and income from state-owned companies, which was a mere 37 percent of the target, he added. Public debts rose by 6 percent to VND3.52 quadrillion (55.94 percent of GDP), or around VND35 million per capita. The National Assembly’s cap for public debt is 65 percent of GDP. … [Read more...] about Budget deficit sees 34-pct surge

Vietnamese Ambassador Dang Hoang Giang (first, left) at the online debate on May 24. (Photo: VNA) Hanoi (VNA) – The Permanent Mission of Vietnam to the United Nations co-organised an online debate on May 24 that highlighted the importance of protecting water sources and water supply infrastructure in armed conflicts. The debate, held in coordination with the Swiss, Senegalese and Slovenian missions, UNICEF, the International Committee of the Red Cross, and the Peace Organisation (PAX), was part of the UN’s Protection of Civilians Week 2022. Addressing the event, Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN, affirmed the country’s viewpoint that water security is a foundation of peace, stability and development for every country and community. He expressed Vietnam’s concern about the humanitarian impacts and difficulties caused by the destruction of water sources and water supply infrastructure in armed conflicts in many places around the … [Read more...] about Vietnam co-organises debate on water source protection in armed conflicts

Con Dao Airport According to the plan, the project will upgrade a runway and taxiway, air traffic management and control works, apron, fuel storage facilities, passenger terminal and auxiliary works. Currently, runway and taxiway upgrade has been implemented on schedule. However, there are no detailed plan for the remaining items of the upgrading project. The CAAV has proposed the Ministry of Transport work with the Commission for the Management of State Capital at Enterprises (CMCS) to approve the investment project as soon as possible, including items such as the passenger terminal, apron and technology infrastructures at the airport. After being upgraded to serve both military and civil purposes, Con Dao Airport will have a capacity of two million passengers and 4,400 tons of cargo per year, and eight parking places. By Minh Anh – Translated by Kim Khanh … [Read more...] about CAAV proposes delay in construction of runway, taxiway at Con Dao Airport

The meeting was held by the Ministry of National Defense (MND) and chaired by its Deputy Defense Minister Senior Lieutenant General Le Huy Vinh, Head of the MND’s Steering Committee on Administrative Reform and E-Government. At the event, Senior Colonel Vu Quang Mien, Deputy Chief of Staff of the GDL, presented the draft plan of the coordination program. In particular, the two sides will support each other according to their functions and duties for the common goal of improving the quality of logistics services. While coordinating, the two signatories will observe the principle of consensus, State laws, and the MND’s regulations. In terms of coordination goals, the two sides will bring into play their strengths and potential, jointly implement tasks in accordance with the MND’s Plan No.4396 signed on November 4, 2021 on developing an e-Government, towards a digital government in the MND for the 2021-2025 period, with a vision to 2030 and the GDL’s Plan No.557 dated March 31, 2022 … [Read more...] about Viettel assists military logistics sector in digital transformation