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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

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

A VND4.5-trillion (US$193.6 million) industrial park is set to be built later this year in the northern Vietnamese city of Hai Phong. The Hai Phong Economic Zone Authority (HEZA) organized a ceremony on Wednesday afternoon to grant an investment registration certificate for the construction of Tien Thanh Industrial Park in Tien Lang District. Construction of the new industrial park, expected to cost more than VND4.5 trillion, will begin later this year on an area of 410.46 hectares. The industrial park is expected to be put into operation before 2025. Speaking at the certificate handover ceremony, HEZA head Le Trung Kien stressed its determination in ensuring the project’s progress by creating favorable conditions for the developer. Once completed, Tien Thanh Industrial Park will increase the number of industrial parks in Hai Phong to 15 parks which span a total of 6,074.75 hectares. In the first six months of 2022, Hai Phong’s industrial parks and economic zones have … [Read more...] about Northern Vietnamese city to establish new US$193.6mn industrial park

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

Ho Chi Minh City Urban Railways No. 1 Company Limited (HURC 1) is at risk of suspending operations due to not having received funding since August last year. In its recent report to the Government Office, HURC 1, which was established seven years ago to receive, manage, operate, and maintain the city’s Metro Line No. 1, said it has been unable to pay its staff since February of this year. The lack of funding has also prevented HURC 1 from paying social insurance premiums for its employees since July. Established in 2015 as a state-owned enterprise under the management of the Ho Chi Minh City administration, HURC 1 was granted a charter capital of VND14 billion (US$601,000). HURC 1 has earned no revenue during its lifetime as Metro Line No. 1 has yet to be completed, forcing the company to maintain operations by using advances from its charter capital. It has yet to be issued expenditures for operations. However, HURC 1 has been unable to receive any advances from its … [Read more...] about Operator of Ho Chi Minh City’s first metro line facing halt of operations