Transport infrastructure to dominate $26.8 bln public investment allocation in 2024: PM

Transport infrastructure to dominate $26.8 bln public investment allocation in 2024: PM

Transport infrastructure will be the biggest recipient of this year’s VND657 trillion ($26.82 billion) public investment capital allocation, Prime Minister Pham Minh Chinh said Friday.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam has large fiscal stimulus space to boost growth: broker

Vietnam has large fiscal stimulus space to boost growth: broker

Vietnam has plenty of fiscal stimulus room to further beef up its economic growth, which is expected at 6.3% this year, up from 5.05% in 2023, VNDirect Securities says in a recent report.

A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7

Con Dao island to power up with $103 million investment

Con Dao island to power up with $103 million investment

State utility Vietnam Electricity (EVN) will be allocated VND2.53 trillion ($102.8 million) to extend the power grid to Con Dao island off the southern province of Ba Ria-Vung Tau per a resolution passed by the National Assembly on Thursday.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam targets having hi-tech products make up 50% of 2024 exports: PM

Vietnam targets having hi-tech products make up 50% of 2024 exports: PM

Vietnam will strive to recover and boost processing, manufacturing and semiconductor industries towards having hi-tech products make up 50% of export turnover this year, Prime Minister Pham Minh Chinh has said.

A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam needs to disburse $10 bln public investment in 35 days

Vietnam needs to disburse $10 bln public investment in 35 days

Vietnam’s central agencies and local governments are under pressure to disburse VND247 trillion ($10.18 billion) worth of public investment funds, or 35% of the full-year target, in the remaining 35 days of this year, to hit their annual goal.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Construction stocks benefit from public investment drive

Construction stocks benefit from public investment drive

Stocks of infrastructure construction firms have outpaced Vietnam’s benchmark VN-Index amid accelerated public investment disbursement in the last months of the year.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

Improve project quality to boost implementation speed, economic recovery, WB tells Vietnam

Improve project quality to boost implementation speed, economic recovery, WB tells Vietnam

Improving project quality through better feasibility studies and reforming public investment procedures will help the Vietnamese government speed up their implementation and hasten economic recovery, a World Bank note says.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam weathers economic headwinds, but growth target a tough ask

Vietnam weathers economic headwinds, but growth target a tough ask

The Vietnamese government has been successful in dealing with economic headwinds, but achieving economic growth of 6% this year remains an uphill battle, a deputy minister said Thursday.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Meeting public investment disbursement goal a mammoth undertaking: minister

Meeting public investment disbursement goal a mammoth undertaking: minister

Public investment disbursement has been very sluggish this year and it will take great efforts to complete 95% of the plan, says Planning and Investment Minister Nguyen Chi Dung.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

HCMC sees 26% FDI boost in 8 months, but sluggish trade

HCMC sees 26% FDI boost in 8 months, but sluggish trade

Ho Chi Minh City received a total registered FDI of $390 million in Jan-Aug, up 26.2% year-on-year, but it experienced slow growth in trade and low disbursement of public investment capital, according to the municipal statistics office.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Sack officials for public investment disbursement failures: PM

Sack officials for public investment disbursement failures: PM

Prime Minister Pham Minh Chinh has called for strict measures to speed up public investment implementation, including the sacking of officials who fail to discharge their responsibilities.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

$30 bln public investment disbursement needed in H2

$30 bln public investment disbursement needed in H2

Vietnam’s ministries, agencies and localities need to disburse VND711 trillion ($29.9 billion) in public investment in the second half of 2023 to fulfil the annual target set by the government.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

WB advises streamlining procedures to boost Vietnam growth

WB advises streamlining procedures to boost Vietnam growth

Streamlining administrative procedures and removing regulatory hurdles could help promote activities and investments for economic growth, the World Bank said in its June edition of Vietnam Macro Monitoring.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Accelerated public investment can boost Vietnam’s economic growth: WB

Accelerated public investment can boost Vietnam’s economic growth: WB

Further public investment disbursement can support Vietnam’s aggregate demand and economic growth in the short run, the World Bank said in its May edition of Vietnam Macro Monitoring.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

HCMC strives to accelerate $3 bln public investment plans

HCMC strives to accelerate $3 bln public investment plans

Ho Chi Minh City, Vietnam’s southern economic hub, is seeking to rapidly disburse its 2023 public investment target of VND70.5 trillion (over $3 billion), expecting to reach 95% of the goal for the whole year.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

HCMC authorities seek to stir up slow growth

HCMC authorities seek to stir up slow growth

Ho Chi Minh City, Vietnam’s southern economic hub, is set to spur its gross regional domestic product (GRDP) during the rest of this year.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

HCMC to accelerate snail's pace public investment spending

HCMC to accelerate snail's pace public investment spending

Ho Chi Minh City, Vietnam’s economic powerhouse, is seeking to accelerate its public investment disbursement following a poor performance in the first two months of this year, which reached just 1% of the year target.

Investing - Mon, Dec 22, 2021 | 11:30 am GMT+7

Prime Minister requests $28 bln of public investment disbursed in 2023

Prime Minister requests $28 bln of public investment disbursed in 2023

Prime Minister Pham Minh Chinh on Tuesday required ministries, state agencies and localities to disburse at least VND675,000 billion ($28.46 billion) in public investment, or 95% of the target, in 2023.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Cash flow runs into 'public investment stocks'

Cash flow runs into 'public investment stocks'

Stocks of companies implementing public investment projects became a bright spot on Tuesday, with many hitting their ceiling prices though the benchmark VN-Index dropped.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

HCMC must prioritize public investment disbursement to spur development: PM

HCMC must prioritize public investment disbursement to spur development: PM

The southern economic hub of Ho Chi Minh City needs to focus on public investment disbursement as it has fulfiled only 34% of the year's target to date, the lowest in the country, says Prime Minister Pham Minh Chinh.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Public investment disbursement hits $10.3 bln, 46.7% of plan

Public investment disbursement hits $10.3 bln, 46.7% of plan

The disbursement of public investment reached VND243,148 billion ($10.25 billion) in the first nine months of the year, or 46.7% of the government's nine-month plan.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Transport minister can appoint contractors for North-South Expressway

Transport minister can appoint contractors for North-South Expressway

The Minister of Transport and chairpersons of provinces have been authorized to appoint contractors for North-South Expressway bidding packages in 2022 and 2023, as per a new government resolution.

Infrastructure - Mon, Dec 22, 2021 | 11:30 am GMT+7

Gov’t converts southern PPP expressway project to public investment

Gov’t converts southern PPP expressway project to public investment

The government has converted Bien Hoa-Vung Tau Expressway phase 1 from a public-private partnership (PPP) project to a public investment for faster completion, set for 2025.

Infrastructure - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam disburses below 35% of public investment target in 7 months

Vietnam disburses below 35% of public investment target in 7 months

Vietnam disbursed VND186,848 billion ($8 billion) of public investment in the first seven months, or only 34.47% of the target set by the Prime Minister for the year.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

WB recommends path for Vietnam to address climate risks

WB recommends path for Vietnam to address climate risks

The World Bank’s Country Climate and Development Report for Vietnam underscores the urgency of adaptation to climate change, combined with policies and public and private investments to reduce the carbon intensity of growth.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Ho Chi Minh City economy expands 3.82%, public funding slows

Ho Chi Minh City economy expands 3.82%, public funding slows

Ho Chi Minh City, Vietnam’s largest economic hub, posted a 3.82% economic growth rate in this year’s first half, while disbursement of public investments was just 17% of the year target, official figures show.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Government proposes public investment for Bien Hoa-Vung Tau expressway

Government proposes public investment for Bien Hoa-Vung Tau expressway

The government has proposed a public investment of VND17,837 billion ($777 million) in phase 1 for Bien Hoa-Vung Tau Expressway connecting with Cai Mep-Thi Vai Port, Long Thanh International Airport, and the southern key economic region.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7