Gearing project finance

Defendants at the appellate trial on Monday morning in Hà Nội. — VNA/VNS Photo Phạm Kiên HÀ NỘI — The People’s Court of Hà Nội on Monday morning started an appellate trial for 19 defendants and related parties involved in violations at the Đà Nẵng-Quảng Ngãi Expressway project. The trial panel is chaired by Judge Mai Anh Tài. The appellate trial is set to take place between Monday and Thursday. More than 25 lawyers are representing the defendants. The trial is to hear the appeal of the 19 defendants, the appeal of the civil plaintiff and that of parties with related interests and obligations. At the end of 2021, the People's Court of Hà Nội sentenced 36 defendants to be between two years suspended sentence to eight years and six months in prison for violating regulations on construction investment, causing serious consequences. The project was invested by the State-owned Việt Nam Expressway Corporation (VEC) with a total length of nearly 140km. The first section of the … [Read more...] about Hà Nội People’s Court starts appellate trial for 19 defendants related to Đà Nẵng-Quảng Ngãi Expressway project

Ceremony to mark the 20th founding anniversary of Vietnam Environment Protection Fund (Photo: VNA) Quang Ninh (VNA) – The Vietnam Environment Protection Fund (VEPF) has contributed importantly to protecting the environment and reducing pollution over the past 20 years. Speaking at a ceremony to mark the 20th founding anniversary of the fund on June 26 in the northern province of Quang Ninh, its Director Nguyen Duc Thuan said that in the past two decades, VEPF has provided preferential loans for nearly 400 projects with a total disbursed capital of nearly 3 trillion VND (129 million USD). It has also financed over 100 billion VND to help localities deal with post-disaster environmental pollution, received combined deposit amount of 250 billion VND from over 360 projects to ensure the restoration of the environment after the projects are completed, and mobilised a non-refundable aid worth 84 million USD from the Global Environment Fund. Deputy Minister of Natural … [Read more...] about 20-year-old fund helps protect environment, reduce pollution

The Partnership for Global Infrastructure and Investment, unveiled with fanfare by U.S. President Joe Biden and G7 allies from Canada, Germany, Italy, Japan and the European Union, aims to fill a huge gap left as communist China uses its economic clout to stretch diplomatic tentacles into the furthest reaches of the world. Biden said the target was for the United States to bring $200 billion to the table, with the rest of the G7 another $400 billion by 2027. Funding the kinds of projects that China currently dominates -- everything from roads to harbours in far-flung corners of the world -- is not "aid or charity," Biden said. Highlighting the geostrategic thinking behind the plan, Biden said such projects "deliver returns for everyone, including the American people and the people of all our nations." Around the world, the role of China's democratic rivals is "a chance for us to share our positive vision for the future" and for other countries to "see for themselves the … [Read more...] about G7 touts $600 bn global infrastructure plan to rival China

Hungary was the first European Union state to approve the EU-Vietnam Investment Protection Agreement (EVIPA). Vietnam and Hungary are expected to sign an agreement on cooperation between the two parliaments in replacement of the one inked in 2008. Chairman of Vietnam’s National Assembly Vuong Dinh Hue and István Jakab, Deputy Speaker of the National Assembly of Hungary, in Budapest on June 26 (local time). Photos: VNA The agreement would be signed during the visit to Budapest by Chairman of Vietnam’s National Assembly Vuong Dinh Hue on June 26-28 at the invitation of Speaker of Hungary’s National Assembly László Kövér. The parliamentary cooperation is evidence of the Comprehensive Partnership agreed in 2018 during the visit paid by General Secretary of the Communist Party of Vietnam Nguyen Phu Trong to the European country. The cooperation agreement is believed to cover three main fields namely the exchange of visits of high-profile officials and … [Read more...] about Vietnam, Hungary to sign new parliamentary cooperation agreement

Vietnam wants to learn from Hungary’s experience in developing information-technology (IT) policies in the context of the fourth industrial revolution, said Minister of Information and Communications Truong Minh Tuan. At a meeting with Hungarian Minister of National Development Miklos Sesztak in Hanoi on September 25, Tuan called on Hungary to share its experience in implementing programmes and projects on information and communication technology (ICT) application in state administrative management like e-Government, e-certification and information safety, among others. Minister of Information and Communications Truong Minh Tuan (R) and Hungarian Minister of National Development Miklos Sesztak He suggested the two sides to boost cooperation in the research and development of national database system, internet of things (IoT), icloud, artificial intelligence and smart cities. Tuan said on the basis of cooperation agreements reached by the two ministries, … [Read more...] about Vietnam cooperates with Hungary in ICT cooperation

The plan, approved by Quang Nam People's Council last Saturday, allows the construction of the embankment, spanning 550 meters from Cam An Ward to the An Bang area. The money will be derived from the national budget and other socio-economic development programs. The goal is to reduce the impacts of sea encroachment and create a sand shore spanning around 1,450 meters. The project is expected to last until 2023. Cua Dai Beach, spanning 7.5 kilometers, has frequently been eroded since the 2000s. In 2010, Quang Nam invested VND70 billion in a beach embankment, before building dikes in 2014 and 2015 with a total investment cost of VND74 billion. Quang Nam also built more embankments in 2020, running parallel to a 250-meter section of the coast. Cua Dai, a popular tourist destination less than 10 minutes car ride from Hoi An center, now has around 2.5 kilometers worth of embankments to protect it from erosion. Experts have blamed falling river sediment, sand mining and strong waves … [Read more...] about Province to spend $9 mln on Cua Dai beach embankments

The Fusion brand has a unique identity, one built on an innovative take on wellness-inspired hospitality. Fusion Resort & Villas Danang – the first residential project of Fusion in Vietnam delivers on that identity, with its core values reflected in every detail of the property. Located on the coast of Non Nuoc Beach with an area of 15.75 hectares at the gateway to the UNESCO world natural heritages Hue, Hoi An Ancient Town, and My Son Sanctuary, Fusion Resort & Villas Danang is a special project developed by Lodgis Hospitality Holdings, a hotel investment platform and joint venture between Warburg Pincus and VinaCapital. Fusion Resort & Villas Danang will offer outstanding facilities and an array of dining options to render guests’ gastronomic journey memorable, with the resort’s overlooking the pool and ocean; a beachside grill house and bar restaurant, and another restaurant and bar located on the 10 th floor of the hotel. Diners can take in the panoramic … [Read more...] about Fusion Resort & Villas Danang celebrates premium launch

Nam San 3A hydropower plant was initially owned by Lao-based Phongsubthavy Group but was sold to Thai BCPG Niwat Adirek, president and CEO of BCPG, disclosed that the company had achieved more than 90 per cent progress on the construction of the 220-kV transmission line project, Nam Tai, in Laos. The Nam Tai project is planned to connect with the transmission line of Electricity of Vietnam (EVN) to transmit electricity generated from BCPG’s two hydropower plants in Laos, Nam San 3A and Nam San 3B, to Vietnam this September. “The Nam Tai transmission line project has the capacity to transmit 800 MW electricity generated from hydropower plants in Northern Laos to Northern Vietnam. In the first phase, we will focus on transmitting 114 MW of electricity from our two hydropower plants, which we have already achieved a Power Purchase Agreement with EVN, to Vietnam. In the next phase, we plan to provide transmission line service to new green power plants nearby, which are now under … [Read more...] about Bangchak Corporation will sell electricity for Vietnam from September

The Vietnam Circular Economy Forum 2022 illustrates the efforts of key stakeholders to establish a circular economy for sustainable development in Vietnam The forum is organised by the Ministry of Natural Resources and Environment in collaboration with relevant agencies. It welcomes nearly 500 delegates, which are representatives of ministries, municipalities, foreign embassies, international organisations, as well as research and educational institutes. The event’s purpose is to examine feasible circular economic (CE) models for Vietnam in light of the finest regional and global practices. In addition, it will specify the procedures, policies, and financial resources necessary to foster CE in the country. According to the Asian Development Bank Institute (ADBI), developing Asia's ongoing reliance on fossil fuels and raw materials for manufacturing continues to strain already vulnerable ecosystems. Vietnam has the second-highest levels of air pollution in Southeast Asia in … [Read more...] about Vietnam’s ministries and private sector sit down on circular economy talk

International School Ho Chi Minh City featured in Queen’s Official Platinum Jubilee Pageant Commemorative Album Dan Truong set to excite audiences at Sun Fest concert Schneider Electric launches inaugural Global Partner Recognition Program Dettol joins hands with HCMC University Medical Center to celebrate World Hand Hygiene Day Capella Hanoi Hotel ranked among top 100 in the world Marc-Antoine Lucchini, Head of Foundation and General Medicines at Sanofi , recently had a business trip to several Asian countries. Among those countries, Viet Nam was highly evaluated for its potential market for healthcare development. The effort of digital transformation and sustainability commitment from Sanofi Like many countries, Viet Nam is facing heavy burdens of morbidity and mortality caused by non-communicable diseases. Being able to control risk factors, improve disease prevention, make early diagnoses and manage treatments of such … [Read more...] about “Viet Nam is a promising market for healthcare,” Senior global leader of Sanofi shared of his business travel to Asia.