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Vietnam seeks VND90 trillion to build railways connected to seaports

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2 years ago

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Vietnam Railway Authority (VRA) has submitted a plan to call for foreign investment in two railways to be connected to the Lach Huyen and Cai Mep – Thi Vai ports.

Vietnam seeks VND90 trillion to build railways connected to seaports

VRA Deputy Head Duong Hong Anh said the project on building a railway to Lach Huyen Port is under planning. It is expected to replace the existing railway to Hai Phong which cannot be exploited effectively because of urban traffic.

The new railway would have the departure point at Du Nghia Station and destination point at Tien Cang Station. Du Nghia Station will be upgraded, while Nam Hai Phong Station will be built anew.

The project has total investment capital of VND32.6 trillion. It is expected that the investment capital would be recovered after 25 years of operation and the loans returned after 30 years.

As for the Bien Hoa – Vung Tau railway project, an investment project has been planned which has received Ministry of Transport’s approval for research results.

The railway is expected to have a total length of 84 kilometers, gauge of 1,435mm, run in parallel with Highway 51, and go through Cai Mep – Thi Vai and Ben Dinh – Sao Mai Ports. The investment capital of the project is VND56.8 trillion. The time needed for investment capital recovery is 19 years and for loan return 30 years.

VRA proposes calling for foreign investments under the modes of capital provision, cooperation, or technology transfer. Investors can also contribute capital to set up joint ventures, and buy shares.

Meanwhile, Bien Hoa – Vung Tau project has been added by MOT to the list of projects calling for investment under the BOT (build operate transfer) mode.

Nguyen Khanh Tung from MOT said that in order to attract investors, approval of developing projects is necessary. He predicted that in terms of new railway projects under the PPP mode, it would be difficult to persuade investors to spend huge capital to develop the entire projects, because it will take a long time to recover capital.

The State should invest in major infrastructure items to attract investors, and private investors could invest in locomotives, wagons or warehouses and yards.

Tung said under current law, the State only invests in major railways outside ports, while the railways within ports must be developed by private investors. This creates inadequacies when port companies don’t invest, or intend to make an investment but there is still no specific timeline. If so, the main railway developed by the State is not exploited effectively because they do not connect to goods storehouses.

A representative of the Vietnam Port Association commented that the projects would be difficult to implement under PPP mode, especially in Cai Mep – Thi Vai area. The railway project to connect with Cai Mep – ThiVai would be more feasible if it is invested in by the State. 

Vu Diep

Source: https://vietnamnet.vn/en/business/vietnam-seeks-vnd90-trillion-to-build-railways-connected-to-seaports-795520.html

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Vietnam-Australia Digital Forum 2023: Making Vietnamese digital enterprises go global

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4 days ago

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September 20, 2023

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The Vietnam – Australia Digital Forum 2023 was held in Sydney, the Australian state of New South Wales (NSW), on August 4 to promote the cooperation in information and communication technology as well as the digital field between the two countries.

Vietnam-Australia Digital Forum 2023: Making Vietnamese digital enterprises go global hinh anh 1The signing of a memorandum of understanding (MoU) between Vietnam’s Posts and Telecommunications Institute of Technology and its Australian partners. (Photo: VNA)

Sydney – The Vietnam – Australia Digital Forum 2023 was held in Sydney, the Australian state of New South Wales (NSW), on August 4 to promote the cooperation in information and communication technology as well as the digital field between the two countries.

The event was co-organised by Vietnam’s Ministry of Information and Communications (MIC), the Australian Trade and Investment Commission (Austrade) and the NSW Trade and Investment Department in charge of the Vietnam market.

The forum took place as part of Vietnamese Minister of Information and Communications Nguyen Manh Hung’s visit to Australia, Director of the MIC’s Department of International Cooperation Trieu Minh Long told Vietnam News Agency correspondents in Sydney.

In 2023, one of the key tasks that the ministry focuses on implementing is to support Vietnam’s digital business community  go global. In addition to activities in Australia, it also implements programmes in other countries and regions around the world such as the US, Japan, and Europe.

Long highlighted strengths of Vietnam’s digital technology enterprises, saying some of them have been successful in foreign markets, even in choosy markets like the US and Japan.

One of the advantages of Vietnamese businesses when accessing the Australian market is that the two countries have good diplomatic and economic relations, along with the strong Vietnamese community in Australia.

Speaking at the forum, Consul General of Vietnam in New South Wales, Queensland and South Australia Nguyen Dang Thang said that developing a digital platform is a breakthrough solution to promote faster digital transformation, reduce costs and increase economic efficiency.

International cooperation is also an important solution to carry out digital transformation, especially promoting the transformation in society, thereby creating momentum for the digital transformation process in government agencies, he added.
Highlighting the two countries’ new cooperation opportunities, Thang said Vietnam and Australia have a strong cooperative relationship, high political trust which is an important point for cooperation in cybersecurity.

Karla Lampe, Director of NSW International Engagement & Market Development under the NSW’s Department of Enterprises, Investment and Trade (DEIT), emphasised that Vietnam and Australia are maintaining strongest-ever partnership, both from economic perspective and from the ties between the two governments. Both New South Wales and Vietnam have large technology companies and influential individuals in the media.

She expressed her hope that the two countries further promote economic and trade ties in the future, and outline ambitious digital transformation goals.

At the forum, representatives from agencies, organisations, research institutions and businesses of the two countries discussed issues related to information and communication technology, and digital technology to learn about policy incentives, the investment environment in Vietnam and Australia.

At the end of the forum, they witnesses the signing of a memorandum of understanding (MoU) between Vietnam’s Posts and Telecommunications Institute of Technology and its Australian partners including Western Sydney University, the University of Canberra, SET Education, the Association of Vietnamese Australian Scholars and Professionals (VASEA)./.

Source: https://en.vietnamplus.vn/vietnamaustralia-digital-forum-2023-making-vietnamese-digital-enterprises-go-global/265680.vnp

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Vietnam lures over 16 billion USD in foreign investment

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4 days ago

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September 20, 2023

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As of July 20, total newly-registered capital, additional capital, and capital contributions and share purchase by foreign investors stood at nearly 16.24 billion USD, up 4.5% compared to the same period of 2022 and 8.8% compared to the first half of the year.

Vietnam lures over 16 billion USD in foreign investment hinh anh 1

Source: https://en.vietnamplus.vn/vietnam-lures-over-16-billion-usd-in-foreign-investment/265410.vnp

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Vietnam’s macro-economy stays stable, inflation controlled: official

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September 20, 2023

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Vietnam’s marco-economic continues to stay stable and inflation is controlled Minister-Chairman of the Government Office Tran Van Son told a press conference following monthly cabinet meeting in Hanoi on August 5.

Vietnam’s macro-economy stays stable, inflation controlled: official hinh anh 1The regular press conference takes places on August 5 in Hanoi. (Photo: VNA)

Hanoi – Vietnam’s
marco-economic continues to stay stable and inflation is controlled Minister-Chairman of the Government Office Tran Van Son told a press conference following monthly cabinet meeting in Hanoi on August 5.

Son said that the cabinet meeting for July focused on assessing and discussing the socio-economic situation in July
and first seven months of 2023; the progress of the programme on
socio-economic recovery and development; public investment capital
allocation and disbursement; and the implementation of three national target
programmes among others.

According to Son, participants to the meeting held that in July,
the socio-economic situation was improved compared to the previous month,
contributing to the country’s performance in the first seven months.

So far, the macro-economic situation has remained
stable, while inflation has been controlled. In the first seven months, the
average consumer price index (CPI) increased 3.12%, while all the major
economic balances were ensured.

State budget collection exceeded 1 quadrillion VND
(42.13 billion USD), equivalent to 62.7% of the estimate. Meanwhile, the
country’s exports fetched 195.4 billion USD, with a trade surplus of 16.5
billion USD.

In July, the Index of Industrial Production (IIP)
rose 3.9% month on month and 3.7% year on year. Total revenue from retail of
goods and services increased 7.1% year on year in July and 10.4% in seven
months.

At the same time, the country welcomed more than 1
million foreign visitors in July and 6.6 million in the January-July period,
6.9 times higher than that in the same period last year.

In seven months, 267.63 trillion VND of public
investment capital was disbursed, completing 37.85% of the yearly target, 3.38%
increase year on year. Meanwhile, the country attracted nearly 16.24 billion
USD in foreign direct investment (FDI), up 4.5%.

In July, 13,700 new businesses were established,
raising the total number of new firms to 131,900 in seven months.

Social welfare, security and defence were also
kept stable.

To date, nearly 93.8 trillion VND of the
socio-economic recovery and development programme has been disbursed. Requests
of localities have also been responded to in a timely manner.

Son said that Prime Minister Pham
Minh Chinh clearly pointed out tasks focusing on removing difficulties for production and business, giving
priority to promoting growth, creating jobs, ensuring livelihoods for people
associated with stabilising the macro-economy, controlling inflation, and ensuring
major balances of the economy.

The PM also asked
ministries, agencies and localities to accelerate the disbursement of public investment capital, and carry out the socio-economic
recovery and development programme, as well as three national target programmes. He urged agencies
to strengthen
forecasts, warnings and provide timely information on
natural disasters and readiness for rescue works, Son said, adding that the PM assigned
specific tasks to particular ministries, sectors and localities in the time to
come./.

Source: https://en.vietnamplus.vn/vietnams-macroeconomy-stays-stable-inflation-controlled-official/265691.vnp

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