[Round-up] Vietnam Wants Bigger Swedish Investments, ADB Promises Extra $500 Million for Metro Project

Tuan Minh

21:52 04/11/2016

BizLIVE - Prime Minister Nguyen Xuan Phuc expressed hope for strengthened trade and investment relations between Vietnam and Sweden. The Asian Development Bank (ADB) plans to provide another loan worth $500 million for the Metro 2 railway project in Ho Chi Minh City.

[Round-up] Vietnam Wants Bigger Swedish Investments, ADB Promises Extra $500 Million for Metro Project

The Asian Development Bank (ADB) plans to provide another loan worth $500 million for the Metro 2 railway project in Ho Chi Minh City. Photo: Tuoi Tre

Vietnamese Economy Balloons Sail for New Trips
The theme of the annual external economics conference this year (Vietnam Summit 2016), “Smooth Sailing Ahead,” has reflected the development situation in Vietnam, a country that is heading towards sustainable growth and prosperity, the Vietnam News Agency (VNA) reported.
The Vietnam Summit 2016’s agenda reflected the needs and interests of Vietnam as well as the expectations of the international business community for the country’s development in the new context, said Standing Deputy Foreign Minister Bui Thanh Son.
Dubai's Limitless Set to Award Key Contract on $550 Million Vietnam Project
Dubai-based real estate developer Limitless has announced that it is poised to award an infrastructure contract for its $550 million Halong Star project in Vietnam "in the next few days".
Earthworks at the company's Halong Star project in Halong Bay began earlier this year and construction of the main access road is under way.
Vietnam Has 30 Large-scale Solar Projects under Development but FiT Needed
Solar PV is taking off in Vietnam with many international and domestic investors showing intention to develop projects in the central and south of the country, Hoa Vu Phuong, a specialist at the international relations department of Vietnam’s Institute of Energy, has told PV Tech.
There are now more than 30 projects with capacities ranging from 20-300MW being developed at different stages. Construction has already started on one project of 19.2MW while a 30MW project has been granted an investment certificate.
“Although the enthusiasm for solar PV in Vietnam seems to be high at the moment, I think what is most awaited for by all independent power producers now is the official Feed-in-Tariff (FiT),” Phuong noted.
Vietnam PM Wants Stronger Trade, Investment Ties with Sweden
At a reception for Swedish Ambassador to Vietnam on November 3, Prime Minister Nguyen Xuan Phuc expressed hope for strengthened trade and investment relations between the two countries.
The two countries have established reliable political ties and should broaden their cooperation in other fields besides education and training, science and technology, the PM said.
Petrol Price Increases Slightly
The prices of RON 92 petrol and bio-fuel E5 increased by 47 dong and 43 dong per liter, respectively, from 3:00 pm on November 4, according to a joint decision by the Ministry of Industry and Trade and the Ministry of Finance.
The prices of diesel 0.05S and kerosene remained stable. Meanwhile, the price of 180CST 3.5S mazut decreased slightly by five dong per kilogram.
State Visit Reflects Ireland’s Prioritization of Cooperation with Vietnam
The upcoming State visit to Vietnam by Irish President Michael D. Higgins shows that Ireland prioritizes cooperation with the Southeast Asian nation, Minister for Foreign Affairs and Trade Charles Flanagan said.
Flanagan made the remark during an interview with VNA ahead of the state visit, the first to Vietnam by President Higgins, on November 5-14.
Opportunities for Vietnam to Draw FDI from Thailand
Thailand’s government is devising policies to support and promote investment abroad, which opens up opportunities for Vietnam to attract Thai foreign direct investment (FDI), VNA reported.
Vietnam hopes Thai companies will enhance investment collaboration in the country, specifically in infrastructure, construction material, consumer goods, foodstuff, automobile, and agriculture.
EU-Vietnam FTA Requires Customs Reform
Researchers have urged that the legal framework on specialized checks on imports and exports be improved for compatibility with commitments to the EU-Vietnam Free Trade Agreement (EVFTA).
Pham Thanh Binh, an expert of the Vietnam Chamber of Commerce and Industry’s project on reviewing Vietnam’s legal framework on specialized checks, said at a consultation workshop on November 3 that there are regulations which are incompatible or partly compatible with commitments to EVFTA.
ADB Promises Extra $500 Million for Metro 2 Project
The Asian Development Bank (ADB) plans to provide another loan worth $500 million for Metro 2 project in Ho Chi Minh City, VNA reported, citing ADB Vice President Stephen Groff.
At a working session with Vice Chairman of the municipal People’s Committee Le Van Khoa in the city on November 3, Groff hailed the city’s efforts to accelerate the implementation of ADB-funded projects, particularly in transport, water supply and drainage.
As many as 146 foreign institutions and individuals won a license to trade Vietnamese securities in October, bringing the total figure to 19,895 to date, including 3,074 institutional investors, according to the Vietnam Securities Depository.
A large number of Indian companies are looking to enter and expand operations in Vietnam as the two economies do not compete with each other, participants said at a recently-concluded Vietnam-India business forum in Hanoi.
Vietnam is increasingly attractive to Indian investors as the Southeast Asian country plays an important role in India’s ‘Look East’ policy, said Vietnamese government officials.

TUAN MINH