Indonesia shifts focus to upgrading existing airports
Indonesia has decided to put the brakes on a IDR14 trillion (over $888 million) project to build a fourth terminal at Soekarno-Hatta International Airport, the country's largest and busiest aviation hub.
Indonesia's Soekarno-Hatta International Airport. Photo courtesy of Jakartaairportonline.com.
Instead, the country will prioritize upgrading the existing three terminals at a significantly lower cost.
Indonesian State-Owned Enterprises Minister Erick Thohir said studies have shown that a mere IDR1 trillion investment in upgrading the existing infrastructure can increase the airport's capacity to serve 80-100 million passengers annually. This decision aligns with the Indonesian government's strategy to optimize its budget.
Soekarno-Hatta Airport serves as a crucial gateway to Jakarta, Indonesia's largest city. In tandem with this plan, Indonesia is also undertaking an expansion project at I Gusti Ngurah Rai International Airport in Bali, a major tourism hub.
The goal is to increase capacity from 24 million to 32 million passengers per year without constructing a new airport.
However, Indonesia is still considering the possibility of building a new airport in Bali to meet the growing demand from tourists visiting the "Island of the Gods”.
- Read More
Chairman of Vietnam's leading corp. BIM Group passes away
Doan Quoc Viet, chairman and founder of BIM Group, one of Vietnam's largest multi-sector corporations, died on Thursday at the age of 70.
Companies - Sat, November 9, 2024 | 12:43 pm GMT+7
Vietnam's T&T Energy, China firms to cooperate in battery energy storage systems
T&T Energy Group JSC, under Vietnamese conglomerate T&T Group, will collaborate with Chinese firms Cospowers and Goldwind in battery energy storage systems (BESS).
Energy - Sat, November 9, 2024 | 12:12 pm GMT+7
Taiwan firms opens $15 mln factory in Vietnam, to export cameras, lens to Japan, US
Ability Electronics Technology Vietnam, under Taiwanese manufacturer and designer of optical devices Ability Enterprise, opened its $15 million factory in the northern province of Vinh Phuc on Friday.
Industries - Sat, November 9, 2024 | 10:41 am GMT+7
Vietnam’s long-term appeal for FDI to boost industrial real estate stocks: analysts
Vietnam’s long-term appeal for foreign direct investment is likely to boost the stocks of industrial real estate developers in the near future, analysts say.
Industrial real estate - Sat, November 9, 2024 | 9:29 am GMT+7
'Trump' a keyword in economic outlook for 2025: Dragon Capital exec
The biggest unknown and major factor affecting global economic outlook in 2025, including that of Vietnam's, will be Donald Trump's second term as U.S President, says Le Anh Tuan, head of Investment at Dragon Capital Group.
Economy - Sat, November 9, 2024 | 7:59 am GMT+7
Taiwan textile giant Far Eastern ups investment in Vietnam province to $1.54 bln
Far Eastern Polytex Vietnam, a Taiwan-invested textile firm, is set to launch its third-phase investment in Vietnam’s southern province of Binh Duong later this year as scheduled, said CEO Yeh Ming Yuh.
Industries - Fri, November 8, 2024 | 10:24 pm GMT+7
TikTok, Shopee execs advise Vietnamese firms to stay ahead of market trends
Vietnamese businesses must understand market trends and stay ahead of them to succeed in sales, says Phan Manh Ha, head of external relations at Shopee Vietnam.
Companies - Fri, November 8, 2024 | 8:26 pm GMT+7
Vietnam carries high potential market for water purifying systems: Taiwanese exec
Taiwanese firm Mbranfiltra is seeking Vietnamese partners to exploit the high potential it sees for its products, including one it has just introduced in the Vietnamese market – a portable water bottle with a filter.
Companies - Fri, November 8, 2024 | 7:10 pm GMT+7
Germany’s PNE wants to process $4.6 bln offshore wind power project in Vietnam by itself
Germany’s Pure New Energy (PNE) wants to proceed with a $4.6 billion offshore wind power project in Vietnam’s central coastal province of Binh Dinh on its own.
Energy - Fri, November 8, 2024 | 4:30 pm GMT+7
Vietnam’s VPBank, Dabaco added to MSCI Frontier Markets Index
Global index provider MSCI has added two Vietnamese stocks – VPBank (HoSE: VPB) and Dabaco (HoSE: DBC) – to the MSCI Frontier Markets Index in its November review.
Finance - Fri, November 8, 2024 | 4:23 pm GMT+7
Nuclear power a must for Vietnam to meet energy demand given renewables' limit: Minister
Renewables, including solar power even backed by an expensive power storage system, cannot fulfill Vietnam’s electricity demand, hence nuclear energy will be needed, said Minister of Industry and Trade Nguyen Hong Dien.
Energy - Fri, November 8, 2024 | 3:52 pm GMT+7
Vietnamese consumers most optimistic in ASEAN on economic outlook: UOB
Vietnamese consumers showed the highest level of optimism regarding their country’s economic outlook and higher appetite for investment compared with their regional peers according to a survey by Singapore-based bank UOB.
Economy - Fri, November 8, 2024 | 3:07 pm GMT+7
Thai-invested MM Mega Market starts building 1st department store in Vietnam
MM Mega Market Vietnam, a supermarket chain under Thai conglomerates Berli Jucker (BJC) and Thai Charoen Corporation (TCC), has broken ground on its first department store in Vietnam, signalling a strong commitment to expanding its presence in the Southeast Asian nation.
Industries - Fri, November 8, 2024 | 2:40 pm GMT+7
Vietnam retail sector leads Q3 earnings growth, mid-caps yield highest returns: brokerage
Earnings of stock exchange-listed companies in Vietnam are estimated to rise 18.8% year-on-year in Q3/2024, with the retail sector taking the lead, according to a report by Hanoi-based VnDirect Securities.
Finance - Fri, November 8, 2024 | 12:02 pm GMT+7
$2.4 bln coal-fired power plant in central Vietnam nears completion, ready to connect to grid
The 1,320-MW Vung Ang II thermal power plant has completed 93% of the construction load and is ready to start trial production and connect to the national grid next month, according to Vung Ang II Thermal Power LLC (VAPCO), the legal representative of the project investor.
Energy - Fri, November 8, 2024 | 10:43 am GMT+7
Trump’s election unlikely to derail Vietnam’s healthy economic trajectory: VinaCapial
The much-discussed impact of Trump’s election to economies around the world is overestimated and there is no risk that Trump’s election will derail Vietnam’s healthy economic trajectory, according to fund manager VinaCapital.
Economy - Fri, November 8, 2024 | 10:23 am GMT+7
