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VIMC seeks approval for int’l container terminal project in HCM City

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Saigon Port JSC plans to join hands with the Mediterranean Shipping Company to build and operate an international container terminal in Can Gio district, HCM City.

VIMC seeks approval for int'l container terminal project in HCM City's Can Gio district hinh anh 1

The Vietnam Maritime Corporation (VIMC) has proposed the Prime Minister, the Ministry of Transport, the Committee for Management of State Capital at Enterprises and the Ho Chi Minh City People’s Committee support its subsidiary Saigon Port JSC’s plan to join hands with the Mediterranean Shipping Company to build and operate an international container terminal in Can Gio district.

To take advantage of cooperative opportunities and attract the world’s leading investors, VIMC suggested the competent authorities allow the application of contractor appointment to select the investor in line with the Law on Bidding or select the investor in special cases as prescribed in Article 26 of the law, it said in a document which was sent to the PM and above-mentioned agencies.

The corporation also proposed that the municipal People’s Committee should be authorised to propose the method of investor selection in special cases and submit them to the Prime Minister.

According to VIMC, container transshipment and seaport service has long become an international competitive strategy in coastal countries.

In East Asia, the development of international transit services has been successfully implemented in a number of countries and territories, including Singapore, Malaysia, Thailand, China, and Taiwan (China), the Republic of Korea and Japan. In 2020 alone, Singapore’s seaports handled about 36.87 million TEUs, of which, 85 percent are transit goods.

Statistics of the Vietnam Maritime Administration showed that the volume of containers transited through the country’s seaports reached about 23.9 million TEUs last year, mainly at the seaports of HCM City, Vung Tau and Hai Phong cities, focusing on handling import-export of domestic goods. The proportion of international transshipment is still quite low.

According to VIMC, Can Gio district is located at the beginning of the Cai Mep – Thi Vai navigational route with a great depth and in an area that is close to international maritime routes. This is an important condition for forming a port system and developing international container transshipment services.

The establishment of a large-scale logistics service centre is expected to bring positive effects and facilitate the development of commercial, financial, and maritime services, it said, adding that it is an effective solution to successfully realise the goal of turning logistics into a spearhead sector of HCM City, maintaining its role as the logistics centre of the region.

In the past time, VIMC has cooperated with the Mediterranean Shipping Company (MSC), the second-largest container shipping company in the world, in developing and exploiting seaport infrastructure in Vietnam.

MSC is operating a fleet of some 625 vessels and boasting 60 seaports around the world. It can handle more than 30 million TEUs per year via its subsidiary company Terminal Investment Limited – TIL.

VIMC said Saigon Port JSC and MSC are accelerating the research to develop a container terminal port in Can Gio area which is capable of receiving ships of up to 250,000 DWT. The project has a design capacity of 15 million TEUs with a total investment of more than 850 million USD./.

Source: VNA

Source: https://vietnamnet.vn/en/business/vimc-seeks-approval-for-int-l-container-terminal-project-in-hcm-city-825504.html

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Vietnam targets 7% GDP growth this year: minister

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HANOI — Vietnam is aiming for economic growth of 7% this year, the country’s planning and investment minister said on Monday, higher than an official target of 6.0%-6.5% set previously.

To achieve this, year-on-year economic growth in the third quarter needs to be 9.0% and in the fourth quarter 6.3%, minister Nguyen Chi Dung also said during a government meeting.

Dung said Vietnam’s budget was in surplus, giving scope for fiscal policy to be used to support businesses and residents.

“Credit institutions will need to further cut their lending interest rates to reduce input cost pressure for businesses and for the economy,” he said.

Vietnam, a regional manufacturing hub, started lifting its coronavirus curbs late last year, allowing factories to resume full operations.

The economy is recovering after growing only 2.58% last year, the slowest pace in decades.

The Southeast Asian country reported GDP growth of 7.72% in the second quarter, backed by strong export growth, but warned of upward inflation pressure for the rest of the year. 

Source: https://tuoitrenews.vn/news/business/20220704/vietnam-targets-7-gdp-growth-this-year-minister/67932.html

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Vietnam spends $40bln importing computers, electronic components since early 2022

Computers and electronic components continue to be the lead group of imported goods, with a turnover of approximately $40 billion, according to the latest data from General Department of Customs.

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From the beginning of the year to June 15, the country spent $39.62 billion importing computers, electronic products, and components, an increase of 29.3% from a year ago.

Computers, electronic products, and components remain the largest import item of Vietnam, accounting for 23.36% of the total import turnover of the economy.

The second-largest imported goods were machinery, equipment, tools, and spare parts with $20.43 billion. The largest import market of this product group was Asia.

Importing computers, electronic products, and components from South Korea was $10.53 billion, a sharp increase of 44% from an earlier year. China was after South Korea with $10.36 billion, up 29.2%. Computer import from Taiwan was recorded at $4.98 billion, up 35.5%; from Japan with $2.89 billion, up 39.8%.

From the beginning of the year to the end of June 15, the total import turnover reached $169.58 billion, an increase of 16.3% (equivalent to an increase of $23 0.8 billion) from last year.

In addition to computers, and electronic products, commodity groups with high turnover such as petroleum increased by $2.53 billion, an increase of 128.4%. Coal of all kinds increased by $2.19 billion, equivalent to 135.7% growth.

Source: https://e.nhipcaudautu.vn/economy/vietnam-spends-40bln-importing-computers-electronic-components-since-early-2022-3346496/

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Yeah1 to buy TV firm amid restructuring

Online entertainment company Yeah1 plans to buy a 51 percent stake in TV and radio company STV amid a major restructuring endeavor.

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The deal is set to be completed this quarter. STV, established in 2008, owns lifestyle TV channel StyleTV, stock and finance channel InfoTV and radio channel Joy FM.

The deal was announced after Yeah1 founder and chairman Nguyen Anh Nhuong Tong sold his entire 12.89 percent stake on June 1 after 15 years of leading the company from an online news website to the first media company to be listed on the Ho Chi Minh Stock Exchange.

Several other major shareholders have also been pulling out since February, including DFJ VinaCapital Venture Investment.

Yeah1 has postponed its annual general meeting twice this year saying more time was needed to prepare important documents.

It reported post-tax profits of nearly VND28 billion last year after two years of losses.

Its contract with YouTube was terminated in March 2020 due to a violation of policies, and what began as an operational error has “turned into a real crisis for the company,” Tong once said.

Yeah1 targets revenues of VND588 billion this year, down 45 percent from 2021 and the lowest since 2017.

It plans to issue 78.6 million new shares to increase its capital.

Source: VnExpress

Source: https://e.nhipcaudautu.vn/companies/yeah1-to-buy-tv-firm-amid-restructuring-3346497/

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