Various investment plans

In the first half of this year, Tra Vinh province has issued registration certificates to 250 businesses. Among which, there are 165 one-member limited liability companies; 45 multi-member limited liability companies; 20 private enterprises; 20 joint stock companies; and 151 affiliated units. The overall amount of registered capital hit around $169 million, and the total number of registered personnel reached nearly 3,800 individuals. There are just under 3,000 active businesses with a total capitalisation of $2.1 billion and nearly 90,800 workers. Some 44 of those businesses are foreign-invested firms. In addition, almost 500 firms and affiliated units were registered for expanded business lines, capital, and other adjustments, increasing the total extra capital to $143 million. The 48MW South Korea-Tra Vinh offshore wind power plant became operational in September 2021 According to Tra Vinh Department of Planning and Investment, compared to the same period in 2021, … [Read more...] about Tra Vinh nurtures private sector to kickstart economy

Construction priorities are for sections Hanoi – Vinh and Nha Trang – Ho Chi Minh City. The Politburo, the country’s supreme decision-making body, is set to discuss the investment plan for the North-South express railway project in September. The project is set to be completed by 2050. Photo: Lam Anh A feasibility study conducted by the Ministry of Transport (MoT) suggested constructing a new electrified 1,435mm double-track express railway on the North-South axis with a total length of 1,545 kilometers. The high-speed rail route will be operated by an electric multiple units (EMU) train with an average speed of 320 kilometers per hour. The MoT estimated the total investment capital to be around US$58.71 billion, in which $1.98 billion would be allocated for site clearance, $31.58 billion for construction cost, $15 billion for equipment and project management, and nearly $10 billion for contingency and other expenses. To ensure the effective … [Read more...] about Politburo to review US$59-billion North-South express railway in September

The Southeast Asian country's transport ministry will next month submit a proposal to build the 1,545 km (960 miles) railway to the Politburo, the powerful decision-making body of the ruling Communist Party of Vietnam, the government said in a news release. Vietnam, a regional manufacturing hub, is ramping up its investment in transport infrastructure to support its fast-growing economy. The first two sections with combined length of 665 km (413 miles) and total investment of $24.72 billion would be open to traffic by 2032, the government said, adding that the entire project would be completed by 2045-2050. … [Read more...] about Vietnam considers $58.7 billion high-speed railway

ESG is a set of standards to measure factors related to sustainable development and the impact of businesses on the community, which consumers are paying more attention to. They want their shopping and consumption habits to leave the smallest environmental footprint possible. Not only consumers, global investors are also placing emphasis on ESG. This trend is even more pronounced after the Covid-19 pandemic. According to a PWC's report, investors increasingly want to hear more from companies about their ESG-related commitments with 83 percent surveyed saying it is important that reports provide detailed information about progress toward ESG goals. In Vietnam, the government has been taking important initial steps to catch up with the global trend. The Resolution of the 13th National Party Congress has determined the development plan for the 2021-2030 period, emphasizing the goal of ensuring social and human security, and managing resources effectively and sustainably. On Feb. 8, … [Read more...] about Businesses accelerate ESG strategy

In 2016, Ho Chi Minh City drew up plans for a series of projects in the Tan Son Nhat International Airport area, an important traffic hub that connects with downtown areas of several districts like Tan Binh, Tan Phu and Go Vap. Among the projects were overpasses over the Truong Son Road, the Nguyen Thai Son-Nguyen Kiem intersection and expansion of the Hoang Minh Giam Road, which were all completed within three years and helped relieve traffic congestion in the area. But several other projects have suffered repeated delays, including a road to connect the major streets of Cong Hoa and Tran Quoc Hoan. This 4 km road with an investment of over VND4.8 trillion ($205.1 million), has been delayed by land clearance issues, mostly related to military land. About 15 km away, traffic at the Cat Lai Port area in Thu Duc City has also been a headache for years. Since 2016, HCMC has worked on the first phase of a My Thuy Intersection project, which includes overpasses, underground tunnels … [Read more...] about HCMC key traffic infrastructure projects delayed for years over land clearance, fund issues