- Cathay climbs with local aviation scene
It is undeniable that Vietnam is of the fastest and largest growing aviation markets in South East Asia and the world. With good government support, economic and infrastructure development, its aviation has gone a long way to reach today’s standards. The continued growth of the Vietnamese economy, people’s increasing purchasing power and desire to travel are obviously vital elements for Vietnam’s aviation to grow in significance.
- No power cuts in May, ministry orders
According to the ministry’s Electricity Regulatory Authority, with water levels rising at hydropower plant reservoirs and new power sources coming online, the pressure on power supply should ease in May and June. It also said Vietnam has increased power purchases from China by around 100 million kilowatt-hours per month starting April.
- Industrial output tops $13bln in four months
Private-sector industry achieved a growth rate of 16.8% during the period, with an industrial value of VND101.1 trillion ($4.9 billion), while the foreign-invested sector grew by 16.7% for a value of VND114.43 trillion ($5.5 billion). The state-run sector, meanwhile, saw a growth of just 5.1%, fetching a turnover of VND54.95 trillion ($2.65 billion).
- Vietnam tourism receipt poised to grow at a CAGR of 13pct
At present, Vietnam has become a more attractive destination for medical and cosmetic surgeries, by offering cheaper service prices than other countries. This has resulted in a rise in number of visitors from around the world seeking remedies for a range of medical needs. These include both critical health services as well as cosmetic and remedial care.
- Phong Phu and Song Da groups apply for upgrading National Highway No 6
The National Highway No 6, from Ba La to Xuan Mai, has total length of 25 kilometres, connecting Hanoi with northwest provinces. It was estimated that the total investment cost for this project may reach 1.764 trillion dong.
- Vietnam lacks construction standards for underground car parks
Nguyen Hong Tien, director of the ministry’s Technical Infrastructure Department, told the Daily on Tuesday that the ministry’s progress has been held up by numerous overlapping issues involving various ministries. Tien said, for instance, the Ministry of Transport is responsible for traffic circulation at underground car parks, while the Ministry of Natural Resources and Environment is in charge of land use and the Ministry of Construction oversees underground car park construction.
- Electricity price should have been raised by 50pct instead of current 15pct
The fluctuation of the world prices has put much pressure in the price management methods for basic commodities.
- Cement industry loses loan guarantees
The Government had guaranteed foreign loans worth US$1.36 billion for 16 State-owned cement companies out of whom Dong Banh, Thai Nguyen, Tam Diep and Hoang Mai companies were facing financial problems and could not repay, said the Minister of Finance, Vuong Dinh Hue, during a press meeting in Ha Noi on Thursday.
- Industrial park moves offset FDI downturn
Total foreign direct investment (FDI) commitments are declining in Vietnam, but new industrial park investment registration shows the country is still attractive to foreign manufacturers.
- PetroVietnam achieves 67.4 pct of year’s plan
Oil output reached 9.64 million tonnes, making up 64 percent of the year’s target, while gas production stands at 6 billion cubic metres, representing 73 percent of the target for 2011.