Want to be in the loop?
subscribe to
our notification
Business News
TRANSPORT MINISTRY TO SPEED UP PROJECTS IN 2018
The Ministry of Transport’s main task this year is to speed up transport projects, Deputy Minister Nguyễn Ngọc Đông said on Thursday. He was speaking at a meeting to review 2017 and set goals for 2018.
Đông said that last year, 22 new transport projects were completed and became operational. The ministry also started another 12 projects.
Its agencies also studied key projects, including pre-feasibility investment reports for parts of the eastern North-South Expressway over the next two years. It also did feasibility reports on land clearance, compensation and resettlement for the Long Thành International Airport Project.
The ministry has also reviewed planning and options for the expansion of Tân Sơn Nhất International Airport and completed a scheme to select consultants for the North-South express railway, which has received assistance from Japan.
“This year, the ministry will continue urging investors to speed up transport projects, particularly key projects and those that receive proper funding,” Đông said.
He said that the ministry also wanted to speed up urban railway projects, especially the Cát Linh- Hà Đông Urban Railway in Hà Nội which is scheduled to open this year.
Work on the eastern North-South Expressway, Long Thành airport project or express railway would be closely supervised, Đông said, adding that any problems arising during the project implementation would be reported to the Government and National Assembly for timely address.
Road projects under Build-Operation-Transfer (BOT) contracts were the subject of much public concern last year because of drivers’ protests about high toll fees.
Deputy Minister Đông said that last year, the ministry examined and approved financial reports of 55 road projects under BOT and Build-Transfer (BT) contracts. The examination provided the cost of the projects, based on which toll fees and toll collecting terms were set.
Last year, toll fees at 35 toll stations on BOT roads were reduced after the Government passed resolution No 35/NQ-CP on assisting and developing business.
During the year, about 20,080 traffic accidents were reported, killing 8,280 people and injuring more than 17,000 people. Compared to 2016, the number of traffic accidents fell about 7 per cent, the number of deaths fell 4.67 per cent and the number of those injured fell 11.62 per cent.
This year, the transport ministry will continue to boost information on traffic laws to raise public awareness. It will also take stronger actions to curb speeding, drunk driving, and overloaded vehicles.
Addressing the meeting, Deputy Prime Minister Trịnh Đình Dũng praised the contributions of the transport sector to national socio-economic development last year.
However, there remained problems to solve, such as traffic jams, traffic accidents, toll fees at BOT projects, high transport costs and the imbalance among means of transport, especially the sluggish uses of railways, which put high pressure on roads, Dũng said.
Source: VIR
Related News
![Card image cap](/uploads/Logo/Cathay%20%281%29.jpg)
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.
![Card image cap](/uploads/news/Factory%201.jpg)
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.
![Card image cap](/uploads/news/economic.jpg)
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.
![Card image cap](/uploads/news/Infrastructure13.jpg)
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.
![Card image cap](/uploads/news/Eco2.jpg)
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.
![Card image cap](/uploads/news/Industrial%20Zone.jpg)
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).