According to the national railway development strategy, the industry is estimated to require VND110 trillion ($4.78 billion) by 2030 to revamp the existing network. With the limited state budget, calling for private investment is a priority. VNR is betting on its new restructuring plan which is set to be approved by the government in the near future, in which it plans to dump its monopoly in cargo transport by divesting stake in cargo transport. Moreover, it also hopes that the master plan on management, use, and operation of national railway infrastructure in line with 2018’s Decree No. 46/2018/ND-CP dated March 14, 2018 on management, use and operation of national railway infrastructure will be soon approved. This would enable the group to take the initiative with its investment plans and to be looked upon more favourably when calling for private investment in upgrading stations and logistics facilities, as well as developing stations that enjoy commercial advantages. … [Read more...] about BUSINESS NEWS HEADLINES MAY 25
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The cuts came amid bank credit growth in the first quarter of only 1.1 per cent compared to 2.28 per cent in the same period last year as many businesses scaled down or stopped operations, experts said. … [Read more...] about VN ready to be world’s factory, but is the world?
Speaking at a May 8 conference reviewing production and business activities in the first four months of 2020, General Director of PVN Le Manh Hung said the overall economy remains volatile, and there are many challenges to economic growth. Hung asked subsidiaries and affiliates to adjust their management approach to these market fluctuations for the rest of the year because the situation has become more serious than previously forecast. … [Read more...] about Oil and gas group weathers dual epidemic and oil price crisis
In his coaching, Vietnam historically finished second at the under-23 Asian championship in January 2018, claimed the fourth-place of the Asian Games tournament in August 2019, made it to the quarters of the 2019 Asian Cup, and most remarkably, won the trophy of the ASEAN Football Federation (AFF) Cup in December last year. … [Read more...] about King Coffee becomes Vietnam football’s main sponsor
An avocado orchard in Ba Ria – Vung Tau Province’s Chau Duc District. — VNA/VNS Photo Hoang Nhi In Ben Tre and Tien Giang provinces in the Cuu Long (Mekong) Delta, which have large areas under durian, farmers have been plagued this season by drought and severe saltwater intrusion. … [Read more...] about Southern fruit farmers plagued by poor harvest, low prices