WB to invest $231 mln in southern Vietnam water improvement

By Tri Duc
Mon, January 15, 2024 | 4:59 pm GMT+7

The World Bank has approved a $311 million project of improving the water environment in Binh Duong province, serving 550,000 people in southern Vietnam.

In a releast last Friday, the bank said it would finance the project with $231 million, while the remaining $80 million would come from the Vietnamese government.

The project is designed to transform wastewater management in Thuan An, Di An, and Tan Uyen towns of Binh Duong, covering more than 33,000 hectares, with a total population of around 1.4 million.

Currently, these areas have limited sewage collection and treatment capabilities. The investment will substantially expand these services, directly benefiting residents by 2032, the WB said.

A section in Binh Duong province of Saigon River, southern Vietnam. Photo courtesy of Tien Phong (Vanguard) newspaper.

A section in Binh Duong province of Saigon River, southern Vietnam. Photo courtesy of Tien Phong (Vanguard) newspaper.

The project will increase wastewater services from under 10% to 32% in Tan Uyen town, and from 17-19% to 45% in Thuan An and Di An towns. This targeted improvement in high-density urban areas is crucial for reducing pollution in the Saigon and Dong Nai rivers.

The engineering designs incorporate future climate scenarios, ensuring that the infrastructure is resilient and sustainable in the long term. This includes technical solutions that are energy-efficient and can reduce greenhouse gas emissions.

Furthermore, the project integrates circular economy, such as the use of LED lighting and solar panels to reduce energy consumption, and the innovative reuse of treated sludge and wastewater to contribute to a more sustainable management of resources.

"Across Vietnam, challenges like untreated wastewater and inadequate drainage harm health and risk reducing GDP by 3.5% annually by 2035,” said Carolyn Turk, WB country director for Vietnam. “This project is an important step in creating a cleaner, healthier environment in Binh Duong province, contributing to sustainable growth and development,” she added.

Comments (0)
  • Read More
Vietnam's M&A activity bounces back in Q1

Vietnam's M&A activity bounces back in Q1

After a rather gloomy 2023, merger & acquisition (M&A) activity in Vietnam recorded a significant recovery in the first quarter of 2024.

Finance - Mon, April 29, 2024 | 10:59 am GMT+7

Nam Cau Kien eco-industrial park - A circular economy pioneer

Nam Cau Kien eco-industrial park - A circular economy pioneer

Enterprises are encouraged to transform to the circular economy model, but they still face obstacles in accessing preferential policies. Procedures to receive credit packages from domestic and foreign organizations are complicated and have criteria that most businesses cannot meet, writes Pham Hong Diep, chairman of industrial real estate developer Shinec JSC.

Industrial real estate - Mon, April 29, 2024 | 9:11 am GMT+7

How tech empowers insurance agents in Vietnam

How tech empowers insurance agents in Vietnam

Vietnam's insurance industry stands at the threshold of a transformative era, one marked by significant potential and rapid digital evolution, writes Tri Nguyen, country manager for Vietnam at Singapore-based insurance firm Igloo.

Consulting - Mon, April 29, 2024 | 7:00 am GMT+7

Hoiana golf tournament raises $473,000 for disadvantaged children in Quang Nam

Hoiana golf tournament raises $473,000 for disadvantaged children in Quang Nam

Hoiana Resort & Golf has raised over VND1.2 billion ($473,000) from holding a charity golf tournament to support disadvantaged children in the central province of Quang Nam.

Society - Sun, April 28, 2024 | 7:14 pm GMT+7

Dragon Capital-linked funds raise holding in retailer Mobile World to 6.25%

Dragon Capital-linked funds raise holding in retailer Mobile World to 6.25%

Six funds related to Dragon Capital, one of major fund management companies in Vietnam, have bought in a combined 4.66 million shares of leading Vietnamese retailer Mobile World Investment Corporation.

Companies - Sun, April 28, 2024 | 4:24 pm GMT+7

Vietnam real estate market can flourish again with shift in focus: experts

Vietnam real estate market can flourish again with shift in focus: experts

New policies, low interest rates, and projects serving real housing needs can see Vietnam’s real estate market recover by the end of 2025 and grow sustainably, experts said.

Real Estate - Sun, April 28, 2024 | 2:50 pm GMT+7

Real estate giant DIC Corp notches biggest quarterly loss since listing

Real estate giant DIC Corp notches biggest quarterly loss since listing

Development Investment Construction JSC (DIC Corp), among Vietnam’s top real estate developers, incurred a loss of VND117.2 billion ($4.62 million) in the first quarter of this year, marking its largest quarterly loss since floating shares in 2009.

Companies - Sun, April 28, 2024 | 2:30 pm GMT+7

Vietnam startup funding down 17% to $529 mln in 2023, 3rd in Southeast Asia

Vietnam startup funding down 17% to $529 mln in 2023, 3rd in Southeast Asia

Vietnamese startups secured $529 million in total funding in 2023, a 17% decline from the previous year, according to the 2024 Vietnam innovation and tech investment report released Friday.

Finance - Sun, April 28, 2024 | 10:04 am GMT+7

Vietnam’s Eximbank elects third chairperson in three years

Vietnam’s Eximbank elects third chairperson in three years

Ho Chi Minh City-based Eximbank has elected Nguyen Canh Anh as its chairman for the 2020-2025 term, the third one since early 2022, as the private lender manages to resettle its leadership.

Companies - Sun, April 28, 2024 | 9:38 am GMT+7

Central Vietnam province okays Swiss-invested $126 mln bamboo board factory

Central Vietnam province okays Swiss-invested $126 mln bamboo board factory

Vietnam’s central province of Thanh Hoa has given an in-principle nod for staBoo Thanh Hoa JSC to invest VND3,199 billion ($126 million) in a factory for manufacturing bamboo oriented strand board (bamboo OSB).

Industries - Sun, April 28, 2024 | 7:10 am GMT+7

Revisit A1 Hill: 'Mud, Blood, Flowers'

Revisit A1 Hill: 'Mud, Blood, Flowers'

As the nation approaches the 70th anniversary of the Dien Bien Phu Victory, all eyes are turning towards the westernmost part of the Fatherland – Dien Bien, with profound gratitude.

Travel - Sun, April 28, 2024 | 12:04 am GMT+7

Vietnamese dong to slide further 1% by year-end: Bank of America

Vietnamese dong to slide further 1% by year-end: Bank of America

The Vietnamese dong, the local currency, is projected to weaken by an additional 1% by the year-end after sliding sharply against the U.S. dollar since the start of this year, according to Bank of America.

Banking - Sat, April 27, 2024 | 10:39 pm GMT+7

Industrial park developer Idico targets 22% profit hike, 40% cash dividend

Industrial park developer Idico targets 22% profit hike, 40% cash dividend

Leading industrial park developer Idico Corporation has targeted revenues and pre-tax profit of VND8.46 trillion ($334 million) and VND2.5 trillion ($98.7 million) this year, up 13% and 22% year-on-year, respectively.

Companies - Sat, April 27, 2024 | 9:23 pm GMT+7

Indonesia’s coffee exports surpass imports

Indonesia’s coffee exports surpass imports

Indonesia’s coffee exports have surpassed imports for 47 consecutive months since May 2020, the Central Statistics Agency (BPS) reported.

Southeast Asia - Sat, April 27, 2024 | 8:53 pm GMT+7

Thai central bank intervenes to stabilise currency

Thai central bank intervenes to stabilise currency

The Bank of Thailand (BoT) said it has intervened in currency markets at times to ease any excessive moves in the THB, adding that the current policy rate is robust and conducive to economic recovery, reported the Bangkok Post.

Southeast Asia - Sat, April 27, 2024 | 8:52 pm GMT+7

Indonesia's first thermal power plant stops operating

Indonesia's first thermal power plant stops operating

Indonesia's Ministry of Maritime Affairs and Fisheries (MMAF) has held a press conference to inform about the country’s progress in the early decommissioning of the Cirebon-1 thermal power plant.

Southeast Asia - Sat, April 27, 2024 | 8:49 pm GMT+7