Kanishka capital city

Illustrative image. (Photo: SGGP) The People's Committee of HCMC said that the disbursement rate of the Public Investment Plan in 2022 is not much compared to previous years due to many difficulties and obstacles, but mainly the impact of the Covid-19 pandemic in 2021. The restart of the construction of projects in the first months of 2022 experienced a certain delay after the time the city adopted measures to respond to the Covid-19 pandemic. In addition, input costs were unstable and tended to increase. Besides the above objective reasons, the People's Committee of HCMC also raised some other subjective reasons affecting the disbursement progress of public investment capital, for example, difficulties related to site clearance; it is necessary to have time to carry out the project adjustment procedures on the basis of Resolution No.99/NQ-HDND dated October 19, 2021, of the People's Council of HCMC and Decision No.4354/QD-UBND dated December 28, 2021, on the medium-term capital … [Read more...] about HCMC disburses only 17 percent of public investment capital in first six months

Among these, a total of 291 newly-granted foreign investment projects have a total registered capital of $223.75 million, an increase of 5.43 percent in the number of newly-granted projects but a decrease of 1.28 percent in value over the same period last year. There were 68 times that licensed projects from previous years adjusted their investment with additional capital of $1.37 billion, down 2.86 percent in the volume but up 205.19 percent in the value compared to the same period last year. HCMC also approved 1,105 cases where foreign investors are allowed to contribute capital, buy shares or acquire contributed capital of domestic enterprises with registered capital equivalent to $583.11 million, an increase of 9.62 percent in the volume but a decrease of 15.12 percent in the value over the same period. By Duc Trung – Translated by Da Nguyet … [Read more...] about HCMC draws US$2.18 billion of FDI capital in first six months

Vietjet has officially launched four more services linking top destinations of Vietnam and India including Ho Chi Minh City/Hanoi – Mumbai and Phu Quoc – New Delhi/Mumbai. The new routes’ launch ceremony was held in Mumbai during the visit of Ho Chi Minh City’s leaders to the Indian city as Vietnam and India mark their 50th anniversary of diplomatic relations, the budget airline said in a press release on Wednesday. The Phu Quoc – Mumbai route will operate four weekly flights every Tuesday, Thursday, Saturday, and Sunday, starting from September 8. The services between Phu Quoc and New Delhi will commence on September 9, with three weekly flights on Wednesday, Friday, and Sunday. The Ho Chi Minh City/Hanoi – Mumbai routes already started operations in early June 2022. The two countries’ first direct services connecting Ho Chi Minh City/Hanoi and New Delhi resumed operations in April this year, with three to four flights per week for each one. “Vietnam-India’s flight … [Read more...] about Vietnam’s budget airline launches Ho Chi Minh City/Hanoi – Mumbai routes

The first train of the Bến Thành – Suối Tiên metro line. — VNA/VNS Photo HÀ NỘI — Hồ Chí Minh City Urban Railways No.1 Company Limited, which has run out of money for its operation, has sent a document to the Government Office asking for the Prime Minister's permission to let the People’s Committee of the HCM City make an advance payment for the company’s operating costs. The State-owned company, the operator of the Bến Thành – Suối Tiên metro line that will be put into commercial operation late next year, was established in 2015. Under a project establishing the company, it is allocated a budget to ensure its operation in the period it has no revenue because the metro line is yet to be commercially operated. The company was given a charter capital of VNĐ14 billion (US$602,000) to purchase basic office equipment, but the operating cost has not been allocated. Therefore, the company had to use the charter capital to cover operating costs. After seven years, the charter … [Read more...] about HCM City metro company out of operational funds, requests Government help

The Vietnam Office of the Japan International Cooperation Agency (JICA) has asked the Vietnamese government to consider promptly giving funds to Ho Chi Minh City Urban Railways No. 1 Company Limited (HURC 1), which is at risk of halting operation. In his recent letter to Tran Van Son, Minister-Chairman of the Government Office, Shimizu Akira, Chief Representative of the JICA Vietnam Office, mentioned some issues related to the city’s Metro Line No. 1, including the urgent need of providing a budget to HURC 1 so that it can maintain operations. HURC 1, the operator of the city’s first metro project, is facing a big problem as its initial charter capital has been used up to pay for operating expenses in the past time and is now facing the risk of suspension due to lack of funds, the JICA said. Earlier in January this year, JICA sent an official letter to the Ministry of Planning and Investment and the Ministry of Finance requesting early allocation of funding to the company. … [Read more...] about JICA urges funding for operator of Ho Chi Minh City’s first metro line

A shopper buys goods at a supermarket in HCM City. (Photo: VNA) HCM City (VNA) – Ho Chi Minh City’s economy has seen a steady revival and is on course to return to pre-COVID levels, Chairman of the municipal People’s Committee Phan Van Mai said on June 29. Speaking at a meeting on the city’s socio-economic situation in the first half of the year, he said the administration had made great efforts to help businesses access funds for their recovery and provided significant policy support to ensure socio-economic activities proceeded smoothly. Administrative procedures remain the biggest obstacle to capital disbursement, hindering capital flow s into production and trade activities and the creation of new jobs, he said. Mai called on authorities in Thu Duc city and the city’s districts and government agencies to focus on smoothing administrative procedures to speed up economic recovery and growth. Director of the Department of Planning and Investment Le Thi Huynh Mai … [Read more...] about HCM City’s economy continues strong recovery momentum