Feasibility Study for Laos-Vietnam Railway Begins
A feasibility study (F/S) for a railway linking the Lao capital of Vientiane with Vung Ang seaport in Vietnam’s central province of Ha Tinh has begun, a senior Lao official has said.
The study of the 550km-long rail line is set to take about two years to complete, scheduled from December 2015 to December 2017, according to the Vietnam News Agency (VNA).
The study is being conducted with a $3 million grant from Korea International Cooperation Agency (KOICA), with the aim of preparing a master plan and providing capacity building to the railway sectors of the two countries.
Vietnam Plans First Corporate Bond Platform to Meet Debt Demand
Vietnam plans to open its first corporate bond-trading platform as it readies for an expected rise in issuance of company debt, Bloomberg reported.
The Hanoi Stock Exchange will submit proposals to the finance ministry and the State Securities Commission this month, Nguyen Thi Hoang Lan, deputy general director of the bourse said, adding the market is expected to start operating early next year if approved.
Emirates to Connect Dubai with Hanoi
Emirates will launch daily flights between Dubai, Yangon and Hanoi in the coming August.
Emirates opened an air route linking Ho Chi Minh City
in 2012 and a cargo service to Hanoi in 2013.
Quang Ninh Airport to Open by 2017
Quang Ninh International Airport will open and welcome its first flight by the end of 2017, authorities in the northern province of Quang Ninh said.
The project has been delayed for nearly a year due to a longer than expected feasibility study process, said a local government official, adding that the province had completed necessary preparations to allow the airport to open on schedule.
Vietnam Customs to Update Operations
The General Department of Vietnam Customs would enhance efforts of administrative reforms and modernization this year to create favorable conditions for imports and exports, said Nguyen Ngoc Tuc, head of the department said on Thursday.
The customs authorities would enhance cooperation with relevant ministries to accelerate the simplification of import-export related administrative procedures, such as national and ASEAN single window mechanisms and special checks on imported and exported products.
The effort aimed to reduce the customs clearance time for imported and exported goods equal or even lower to ASEAN-4’s average, he added.
Japan Firm Becomes Strategic Partner of Eurowindow
Tokyo-based Bunka Shutter has bought a 30% stake in Vietnam’s Eurowindow from Private Equity New Markets (PENM) to become a strategic shareholder of the Vietnamese door manufacturer.
The tie-up between Bunka Shutter and Eurowindow will pave the way for the Japanese firm to expand its manufacturing base to Vietnam.
Vietnam Real Estate Associations Outcry over Proposed Loan Tightening
The Vietnam Real Estate Association (VNREA) and the HCM City Real Estate Association (HoREA) have asked the State Bank of Vietnam (SBV) central bank to delay the implementation of regulations that tighten lending for the sector.
Tighter lending rules will negatively affect not only the real estate market but also other markets and the whole economy, said VNREA Chairman Nguyen Tran Nam.
The proposal came in as the SBV was seeking to prohibit banks, including branches of foreign banks, from using more than 40% of short-term deposits for medium and long term loans, compared to the current rate of 60%. The risk weight of loans to real estate businesses can also be raised from 150% to 250%.
Vietnam Could Be Next Giant Market for Telco Investors
Vietnam is fast becoming a promising market for telecommunications investors after it hit the 24 million subscriber mark in the last quarter of 2015, contributing to its over $15 billion revenue for the entire 2015, according to Tech in Asia.
Despite this unprecedented growth over the past year, the country’s mobile network infrastructure still has to undergo a lot of improvements. This, however, could open doors to outside-industry investors and markets.
Vietnam, with its unprecedented growth and undeniable potential, could be the first of our penetration targets in the region, said CEO of 5BARz International Daniel Bland.
Vietnam outperformed its regional peers in 2015 amid a period of relative stagnation and this trend is set to continue in 2016 although some headwinds persist, Savills World Research has said in a recently-released report.
The country’s property market has been buoyed by improvements in macroeconomic conditions and legal reforms, the real estate service company said.
As many as 4,320 enterprises in Ho Chi Minh City stopped operation in January, much higher than 1,445 closures a year earlier and 2,936 in January 2014, according to the city’s statistics office.
Ho Chi Minh City attracted a combined $225.4 million in foreign direct investment (FDI) in the first one month and a half this year, falling 55.5% from the same period of 2015, the city’s statistics office said.
Of the amount, overseas players registered to pour $151.6 million into 83 newly-licensed projects and an additional $73.8 million into 22 operational projects.