Want to be in the loop?
subscribe to
our notification
Business News
PROPOSAL ON INTERNATIONAL SEAPORT IN SOC TRANG TO BE SUBMITTED TO PM
At the end of the year, the government of the Mekong Delta province of Soc Trang will submit to the prime minister a proposal to upgrade the Tran De deep-water seaport in the province into an international port (IA grade), according to Soc Trang Vice Chairman Le Thanh Tri.
At a mid-term conference in Can Tho City last weekend on the execution of the plan for socioeconomic development and medium-term public investment for the 2016-2020 period in the Mekong Delta and southeast regions, Tri said that the project proposal had been sent to the Ministry of Transport. The seaport is expected to serve as an international gateway or transit point, contributing to the country’s socioeconomic development.
The Soc Trang government has worked with the Vietnam Maritime Administration on the project and will consult the relevant ministries and agencies in November or December, Tri said, adding that he looked forward to the support of the Ministry of Planning and Investment.
The Ministry of Transport had earlier agreed in writing to the submission of the proposal of the Soc Trang Government for the PM’s approval.
The seaport is expected to accommodate ships weighing from 50,000 DWT to more than 100,000 DWT, serving the Mekong Delta’s direct imports and exports.
At a meeting between the provincial government and Minister of Transport Nguyen Van The in March, Soc Trang Chairman Tran Van Chuyen stressed that several investors, including International Local Development Consortium (ILDC) from France, had expressed keen interest in the project.
ILDC had proposed investing some VND136.5 trillion (US$5.9 billion) in the Mekong ILDC deep-water seaport complex, consisting of a seaport, a service area and an urban and industrial area, covering 6,000 hectares.
Under the prime minister’s Decision 1037/QD-TTg on developing the national seaport system by 2020 with a vision to 2030, the two IA seaports are in Haiphong and Ba Ria-Vung Tau. The seaports that have the potential to become IA ports are in Danang City and Khanh Hoa Province.
Source: The Saigon Times
Related News
EXPLORE HONG KONG WITH A COMPANION
From now until 19 August 2024, you can enjoy our exclusive Fly 2 Hong Kong offer on round-trip Economy flights from USD364^ for 2 persons, sponsored by Hong Kong International Airport. Bring along a travel buddy and experience together the excitement and charm of our vibrant home city.
BUSINESSES INCREASE WISHES FOR SPECIALISED INDUSTRIAL PARKS
Data centres, industrial parks (IPs) reserved for high-tech production, and parks serving Chinese, the United States, Taiwanese, or Japanese investors are gradually being formed to welcome new funding waves, according to Truong An Duong, general manager of North Vietnam and Residential at Frasers Property Vietnam.
VIETNAM’S H1 ECONOMIC GROWTH QUITE IMPRESSIVE: ADB COUNTRY DIRECTOR
Country Director of the Asian Development Bank (ADB) for Vietnam Shantanu Chakraborty has expressed his impression of the Southeast Asian nation’s economic growth of 6.4 per cent in the first half of this year. The growth was mainly driven by strong trade recovery, where export grew by 14.5 per cent and import by 17 per cent over last year, he told the Vietnam News Agency. However, he said, the domestic segment remained sluggish.
REAL ESTATE FIRMS AGGRESSIVELY RESTRUCTURING BOND DEBT
From the start of 2024 to July 5, the market saw 133 private placements and ten bond public offerings, totalling over VNĐ140 trillion. 65.6 per cent of this value was from the banking sector, while real estate bonds accounted for only 24.6 per cent, or over VNĐ34.5 trillion.
GOV’T UNVEILS ACTION PLAN TO ACCELERATE INDUSTRIALISATION
Vietnam aspires to become among the top three industrial powerhouses in ASEAN, with the industrial sector contributing over 40 per cent to GDP. The manufacturing and processing sector is expected to account for around 30 per cent of GDP, with a strong emphasis on high-tech products aiming for over 45 per cent of the sector's value. To further drive the economy, the service sector is projected to contribute over 50 per cent to GDP, with tourism alone generating 14-15 per cent.
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).