Vietnam needs to speed up the construction of Long Thanh International Airport in the southern province of Dong Nai to address chronic capacity shortages in one of the world’s fastest-growing aviation markets, according to experts. The sooner Long Thanh is constructed, the better air travel demand in Vietnam can be met, as the country’s biggest airport Tan Son Nhat in Ho Chi Minh City is overloaded, said Vo Huy Cuong, vice head of the Civil Aviation Administration of Vietnam. Long Thanh will take up the overflow from Tan Son Nhat, which currently receives 32 million passengers a year, far beyond its designed capacity of 25 million. Some foreign airlines have already cut flights to and from Tan Son Nhat due to the overloading, Cuong added. Russian aviation authorities on March 21 announced they were scrapping a plan to increase the number of Russian flights to the airport. Etihad Airways has also announced it will be cutting its flights to Tan Son Nhat from 7 to 4 per week … [Read more...] about Vietnam urged to accelerate construction of new mega-airport
Construction
Experts urge earlier construction date
Viet Nam News HCM CITY — Construction of Long Thành International Airport in the southern province of Đồng Nai at an earlier date than initially planned would help reduce the overload on neighbouring Tân Sơn Nhất International Airport in HCM City, experts said at a seminar held in the city yesterday. Organised by the Tiền Phong (Vanguard) newspaper, the seminar was attended by local experts, officials from ministries and departments, and representatives from other agencies. The aim was to discuss solutions to implementing the Long Thành International Airport project at an earlier date than originally planned. Attendees expressed concern about policies and measures related to capital sources, modes of investment, land clearance, resettlement, and compensation to landowners. Many experts agreed that the opening of Long Thành International Airport would allow Tân Sơn Nhất International … [Read more...] about Experts urge earlier construction date
Hundreds of poor constructed level crossings to be upgraded
Illustrative image (Source: VNA) Hanoi (VNA) – The Ministry of Transport (MoT) will remove hundreds of below-standard level crossings countrywide to improve rail travel and reduce accidents. The new regulation on level crossings and construction in railway safety is being built up by the MoT. For a long time, poor railroad intersections have threatened serious accidents to both train and road users. Nha Dau level crossing on Hanoi’s Le Duan street, for example, has seen severe congestions every day on rush hours as it is about 80cm higher than the road, obstructing the traffic influx. Level crossings leading to headquarters of Vietnam National Coal and Mineral Industries Holding Corporation Limited and Vietnam Cement Industry Corporation suffer the same problem. Anytime a car drives through these level crossings, there will be several vehicles stuck in congestions, finding ways to get to Le Duan street. And it is not just the level crossings with signs and … [Read more...] about Hundreds of poor constructed level crossings to be upgraded
Construction of Vam Sat No.2 Bridge starts
The bridge project includes the 432.7-meter bridge, roads to the bridge and light system and other subsidiary construction. The bridge has width of 10 meter, and the path to the bridge is 647 meter long. Total spending for the construction is VND342 billion ($14,985,171) taken from Ho Chi Minh City’s state budget. It is planned to build the bridge in 580 days; however, the management board promised to beef up speed. Before, in 2005, the Vam Sat No.1 was built and open to the traffic yet it has low loading capacity and it is just 4 meter wide with one lane only; accordingly, it can’t satisfy travelling demand of residents in Ly Nhon commune only.By staff writers – translated by UYEN PHUONG Tags: Construction Bridge Vam Sat No.2 starts Can Gio district Ly Nhon … [Read more...] about Construction of Vam Sat No.2 Bridge starts
SBV restricts real estate and construction loans
Document 563 sought tighter control over credit growth to meet the SBV’s target of 17 per cent for 2018, Photo: Le Toan According to experts, real estate firms need to apply more effort to cope with more stringent lending requirements starting this year, and with the coming influx of new supply. The State Bank of Vietnam (SBV) recently asked credit institutions and local offices of foreign banks to give lending priority to production and business and to strictly monitor the acquisition of consumer loans that are used, in reality, for investment and trading in real estate and/or securities. SBV’s recent Document No.563/NHNN-TTGSNH, issued in January by SBV, asked for tighter control over credit growth in order to meet its target. The credit growth target for 2018 was set at 17 per cent, lower than the growth rate of 18.17 per cent the year prior. SBV Governor Le Minh Hung has instructed financial institutions to lessen the focus on real estate and construction and … [Read more...] about SBV restricts real estate and construction loans