[Round-up] Vietnam Seeks Foreign Consultancy for Airport Upgrade

Tuan Minh

08:23 14/06/2017

BizLIVE - PM Nguyen Xuan Phuc has assigned the Ministry of Transport to hire a foreign consultancy firm in order to evaluate the expansion of Tan Son Nhat Airport in Ho Chi Minh City, while ordering a halt to all construction work on a golf course next to it.

 [Round-up] Vietnam Seeks Foreign Consultancy for Airport Upgrade

A view of Tan Son Nhat International Airport in HCM City. Photo: VGP

Vietnam to Hire Foreign Consultant for Tan Son Nhat Airport Expansion
Prime Minister Nguyen Xuan Phuc has assigned the Ministry of Transport to hire a foreign consultancy firm in order to evaluate the expansion of Tan Son Nhat Airport in Ho Chi Minh City.
The work must be done in an independent manner to ensure the expansion project will achieve maximum efficiency, said the PM at a meeting on June 12. The results are to be reported to the government by the end of the year.
Meanwhile the prime minister asked the defense minister to order a halt to all construction work on a golf course built on a military plot of land adjacent to Tan Son Nhat, pending further research.
Vietnam Hopes for Sustainable Economic Ties with Australia
Deputy Prime Minister Truong Hoa Binh called for Australian and Vietnamese businesses to foster their trade and investment partnership, prioritizing cooperation, in human resources, infrastructure, high technology, wind power and renewable power from waste.
Addressing a meeting in Hanoi on June 12 with an Australian delegation attending the Australia-Vietnam Investment and Trade Expo, the Deputy PM said that Vietnam hopes for Australian firms’ affiliation in exporting and distributing Vietnam’s farm and aquatic products to Australia.
Deputy PM Warns of Overheating in Vietnam Property Sector
Government agencies and local authorities must be cautious with the real estate market performances and wary of a market bubble, Deputy Prime Minister Trinh Dinh Dung reiterated recently.
Although the property market is on a stable trend and contributed significantly to the country’s economic development after a protracted period, close watch must be placed on the market development, Dung was quoted by the Vietnam News Agency as saying.
Inflation Forecast to Hit 2.6% This Year
Vietnam’s inflation this year is forecast to reach 2.6% barring fluctuations of prices on world markets and adjustment in the cost of public services, the National Financial Supervisory Commission (NFSC) reported on June 12.
In the first five months of the year, the average inflation rate was at 4.47%. But the commission forecast that inflation would drop toward the end of the year due to stability of food and restaurant prices.
Vietnam-EU Trade up 16.2% in Jan-May
Two-way trade between Vietnam Nam and the European Union (EU) grew 16.2% year-on-year in the first five months of 2017, according to the Ministry of Industry and Trade.
Of the figure, Vietnam’s exports to the EU rose 4.2%, mostly apparel, footwear, agro-forestry-aquatic products and computers, while its imports from the EU up 14%, including machinery, equipment, pharmaceuticals and dairy products.
International Trade Expos Open in HCM City
Three international exhibitions namely Rubber & Type Vietnam, Paper Vietnam, and Coatings Expo Vietnam kicked off in Ho Chi Minh City on June 13.
This year’s expos have drawn 220 businesses from 16 countries including the U.S., South Korea, Japan, China, Germany, Austria, India, Italy, and Vietnam.
Thai AirAsia Starts Third Route to Vietnam
Thai AirAsia has added Da Nang in Vietnam to its network from its main base at Bangkok Don Mueang (DMK). On 9 June the LCC began daily flights on the 847-kilometre route using its A320s.
Thai AirAsia now serves 49 destinations non-stop from Don Mueang. It already serves the Vietnamese cities of Ho Chi Minh City with three daily flights and Hanoi with two daily flights. It is worth noting that Da Nang is also served by AirAsia from Kuala Lumpur.
Ninh Thuan Seeks Investments in Renewable Energy, Marine Economy
In 2017, the south central coastal province of Ninh Thuan is focusing on luring capable and strategic businesses and investors in the two key sectors of renewable energy and marine economy, according to VNA.
Incentives in terms of finance, land, taxes and infrastructure have been offered to investors, particularly those operating in wind and solar power, sea-based economy, tourism and agriculture.
Vietnam’s Steel Industry Expected to Grow 12-15%
The steel industry is predicted to grow by 12-15 percent in the next five years, heard a workshop titled “Steel sector dialogue: Prospects 2017-2020” in Ho Chi Minh City on June 12.
According to the Vietnam Steel Association, in 2017, cast iron output is forecast to increase 80% to reach 4.5 million tons, while steel billets will jump 47.2% (11.5 million tons), finished steel products up 12% (20 million tons), cold rolled coils up 13% and steel pipes up 15%.
The benchmark VN-Index of the Ho Chi Minh City Stock Exchange (HOSE) picked up 0.77% to a new high of 756.89 in nine years, supported by foreign players buying major bluechips.
Sentiment was strong during the whole session, with volume reaching 207.17 million shares worth 4.75 trillion dong ($209 million), compared to 184.32 million units, valued at 3.73 trillion dong on Monday.
U.S.-headquartered Synnex Corp is about to buy an undisclosed stake in FPT Trading, an arm of FPT Corp that focuses on distributing technology devices, a source familiar with the matter told Zing.vn.
Syntrend from Taiwan has failed to acquire a 51% in FPT Trading after months of attempts, another source said.