Corporate Delayed steel project has investment blown out of proportion: Inspectorate The Saigon Times Daily Monday, Feb 18, 2019,17:16 (GMT+7) Delayed steel project has investment blown out of proportion: InspectorateThe Saigon Times Daily A view of the long-deserted plant at the State-run Thai Nguyen Steel and Iron Corporation. It is among 12 loss-making megaprojects of the industry and trade sector – PHOTO: THANH NIEN NEWSPAPER The Government watchdog recently released its years-long inspection results for TISCO’s phase-two production expansion project, which is among 12 loss-making megaprojects that the Ministry of Industry and Trade is struggling to manage. Poor administration by relevant State agencies over the years has prompted the steel-and-iron project to grind to a halt despite huge investment, and the project owner still has to spend some VND40 billion a month to service bank loans, according to … [Read more...] about Delayed steel project has investment blown out of proportion: Inspectorate
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Southeast Asia’s GDP growth to remain at 4.5 percent in 2020
Economic growth across Southeast Asia will slow to 4.5 per cent in 2019 and remain unchanged in 2020, amidst high risks of a re-escalation in trade tensions. Regional growth has slowed since 2018 and remained sluggish in the third quarter of 2019, with GDP growth across the Southeast Asia (SEA) region rising only 4.5 per cent on-year from 4.4 per cent in the second quarter. The US-China trade conflict has been a key driver for this slowdown in growth, with trade uncertainty remaining a key drag on manufacturing, exports, and investment. Export-oriented economies have been the most impacted by the ongoing trade tensions, with Singapore only narrowly avoiding a technical recession in this year’s third quarter. Regional growth has slowed since 2018 and remained sluggish in the third quarter of 2019, with GDP growth across the SEA region rising only 4.5 per cent on-year from 4.4 per cent in the second quarter. Sian Fenner, ICAEW Economic Advisor and Oxford Economics Lead Asia … [Read more...] about Southeast Asia’s GDP growth to remain at 4.5 percent in 2020
Former Deputy PM provided poor guidance to loss-making steel project – inspectors
Nation Former Deputy PM provided poor guidance to loss-making steel project - inspectors By Thanh Thom Monday, Dec 9, 2019,19:46 (GMT+7) Former Deputy PM provided poor guidance to loss-making steel project - inspectorsBy Thanh Thom Hoang Trung Hai is seen in his capacity as deputy prime minister of Vietnam. He is now accused of having made mistakes in issuing instructions on a steel-and-iron plant project – PHOTO: VGP HCMC – Former Deputy Prime Minister Hoang Trung Hai was found to have committed violations and shortcomings in his instructions to a long-suspended, loss-making megaproject managed by State-run Thai Nguyen Iron and Steel Corporation (TISCO). In a statement today, December 9, the Party Central Committee’s Inspection Commission released its official conclusions following its inspection into the irregularities found in TISCO’s phase-two production expansion project. Poor … [Read more...] about Former Deputy PM provided poor guidance to loss-making steel project – inspectors
Chinese contractor tight-lipped about Vietnam’s US$13 million recovery demand in steel project
Other News Chinese contractor tight-lipped about Vietnam’s US$13 million recovery demand in steel project The Saigon Times Daily Thursday, Mar 28, 2019,10:18 (GMT+7) Chinese contractor tight-lipped about Vietnam’s US$13 million recovery demand in steel project The Saigon Times Daily A view of a long-deserted facility at the State-run Thai Nguyen Steel and Iron Corporation. It is among 12 ineffective megaprojects of the industry and trade sector – PHOTO: TNO HCMC – A Chinese contractor involved in a suspended steel project of Thai Nguyen Steel and Iron Corporation (TISCO), a subsidiary of the State-run Vietnam Steel Corporation (VNSTEEL), has turned a deaf ear to the demand to pay back US$13 million in payments. VNSTEEL general director Nguyen Dinh Phuc made the revelation at a meeting aimed at solving 12 ineffective, loss-making projects, under the umbrella of the Ministry of Industry and Trade, … [Read more...] about Chinese contractor tight-lipped about Vietnam’s US$13 million recovery demand in steel project
