Want to be in the loop?
subscribe to
our notification
Business News
BIG-TICKET INFRASTRUCTURE PROJECTS PROPOSED FOR MEKONG DELTA
Sixteen infrastructure projects have just been proposed for the Mekong Delta, heard a recent meeting held in Can Tho City to discuss ways to respond to climate change.
These include projects to build coastal roads, inter-regional roads, dikes and reservoirs, with total capital of VND94,300 billion. They were proposed by the Ministry of Transport, the Ministry of Agriculture and Rural Development, and the Mekong Delta’s 13 provinces.
A major project in the list is a 415-kilometer coastal road passing through seven provinces of the delta — Tien Giang, Ben Tre, Tra Vinh, Soc Trang, Bac Lieu, Ca Mau and Kien Giang. Its estimated cost is nearly VND43,000 billion.
The other projects are a dike system along the Mang Thit River phase 2 in Vinh Long Province, the 36-kilometer National Highway 61C in Hau Giang Province, a road improvement in Dong Thap Province and a reservoir in An Giang Province. Their total cost is put at nearly VND15,000 billion.
Can Tho City, the economic center of the Mekong Delta, will invest nearly VND9,800 billion to expand a section of National Highway 61C passing through the city and roads linking O Mon, Thoi Lai and Giong Rieng districts with a combined length of 22.5 kilometers.
As for the regional planning, the Ministry of Transport proposed improving national highways 53, 62 and Nam Song Hau Road, which will require nearly VND7,160 billion.
The Ministry of Agriculture and Rural Development planned to invest in three projects with an estimated cost of VND6,620 billion, including improving a canal system to channel water from the Hau River to Ca Mau Peninsula, upgrading an inter-provincial canal system lying between the Tien River and the Hau River and the irrigation system connecting Bao Dinh-Go Cong-Tan Tru in Long An Province.
An amount of over US$2.8 billion, equivalent to VND66,282 billion for the projects, will be borrowed from foreign sources, while the reciprocal capital will be VND28,000 billion.
The investment policies for the projects are expected to be approved this year.
Source: The Saigon Times
Related News
MPI TO AMEND DECREE 35 ON THE IMPLEMENTATION OF PPP REGULATIONS
Deputy Prime Minister Tran Hong Ha has permitted the Ministry of Planning and Investment (MPI) to draft amendments and supplements to Decree No.35/2021/ND-CP, which provide guidance for the implementation of the Law on Public-Private Partnership Investment.
BA RIA-VUNG TAU PROVINCE RANKS FIRST IN FOREIGN INVESTMENT CAPITAL
Statistics published by the Foreign Investment Agency under the Ministry of Planning and Investment showed that between January and April, Ba Ria-Vung Tau lured $1.52 billion in overseas funding, equalling 16.4 per cent of the total foreign investment in the whole country.
INFOGRAPHIC SOCIAL-ECONOMIC SITUATION IN THE APRIL AND FOUR MONTHS OF 2024
The monthly statistical data presents current economic and social statistics on a variety of subjects illustrating crucial economic trends and developments, including production of agriculture, forestry and fishery, business registration situation, investment, government revenues and expenditures, trade, prices, transport and tourism and so on.
KEY DRIVER GAINS A MUST FOR GROWTH
Only slight order number improvements and enterprise confidence sentiment mean it may be difficult for the country to hit its desired growth goals this year.According to the World Bank’s biannual economic update report released last week, it is expected that the Vietnamese economy may grow by 5.5 per cent this year and 6 per cent next year, making it among top growth leaders in the world.
TEXTILE AND GARMENT BUSINESSES FACE DIFFICULTIES DUE TO LACK OF DOMESTIC SUPPLY
Infrastructure for weaving, dyeing and fabric production is still limited, and there is no spatial planning for development and centralised wastewater treatment, said Nguyễn Thị Tuyết Mai, Deputy General Secretary of the Việt Nam Textile and Apparel Association (Vitas).
ADDED VALUE OF INDUSTRIAL SECTOR UP 6.18 PER CENT IN Q1
Vietnam’s industrial sector posted significant growth in the first quarter of 2024, of an estimated 6.18 per cent compared to the first quarter of 2023. In particular, manufacturing and processing saw robust growth of 6.98 per cent.