Business News

Earlier this month, Singapore-based Symphony International Holdings spent US$42.6 million to buy 28.57 per cent of Indo Trans Logistics Joint Stock Company (ITL Corp) from Singapore Post.

Prime Minister Nguyen Xuan Phuc has signed a decree enacting two Schedules on preferential export/import rates, which brings provisions of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) into force.

The Government leader highlighted the region’s strategic importance in terms of politics, society-economy and defence-security, adding that it was the second biggest economic region in the country and the only region where all localities contributed to the central budget.

The Mekong Delta is the country’s largest agricultural production area and has seen growing demand for air cargo transportation, especially for high-value items for export. In 2017, the volume of goods transported from the region through Tan Son Nhat airport in HCMC exceeded 70,000 tons.

However, seaports in the north serve 25%-30% of the total volume of cargo and those in central provinces, only 13%, while customs clearance procedures for 57% of cargo are done at seaports in the south.

Đà Nẵng will build a new terminal, T3, at its international airport with total investment of VNĐ9 trillion (US$391 million), increasing the airport’s capacity to 28 million passengers and 200,000 tonnes of cargo by 2030.

Speaking at a workshop in HCM City yesterday, General Director of Vietnam Customs Nguyễn Dương Thái said the sector would reform administrative procedures, modernise customs, improve the business environment and enhance national competitiveness.

Speaking at a meeting on seaport and internal waterway projects held in the province on Tuesday, Quốc told the provincial Department of Planning and Investment to work with investors of the projects that are proceeding slowly and re-evaluate their capacity, and report the results to the committee soon.