Ministry of planning and investment

The Ministry of Transport is consulting ministries and Government agencies on collecting tolls at sections of the North-South Expressway built from State capital. An eastern section of the North-South Expressway. VNA/VNS Photo The Ministry plans to collect a maximum toll of VND1,500 per km on eight eastern sections of the North-South Expressway. These eight eastern sections are Cao Bo-Mai Son, Mai Son-Highway No 45, Highway No 45-Nghi Son, Nghi Son-Dien Chau, Cam Lo-La Son, Vinh Hao-Phan Thiet, Phan Thiet-Dau Giay and My Thuan 2 Bridge. With a rate from 1,000 to VND1,500 per km depending on the route, after deducting road operation and maintenance costs, the State budget will receive about VND2.1trillion (US$93.47 million) per annum from eight eastern sections of the North-South Expressway during 2025-2030. This money will help develop more expressway systems, and be spent on maintenance and roads repairs. On June 7, 2021, Prime Minister Pham Minh Chinh assigned …

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A new policy offers abundant opportunities for equity investors to step into aviation under the public-private partnership (PPP) model or by securing the right to exploit airports under the management of state-owned Airports Corporation of Vietnam. PPP projects at airports are generally regarded as safe investment In late August, the Ministry of Transport sent documents seeking comments from 28 centrally-governed cities and provinces about the plan to raise private capital resources for aviation infrastructure investment (the August scheme), after nearly two years of studies and drafting. Two days earlier, the plan was also sent by the authority (MoT) to local airlines, as well as Sung Group and IPP, two major businesses that have made successful ventures into aviation infrastructure investment. The plan was jumpstarted by the MoT in 2019 and first submitted to the prime minister for consideration this March. In June, through Dispatch No.4023/VPCP-CN, Deputy Prime …

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The total state’s spending in 2021-2025 is predicted to reach VND10.26 quadrillion, of which 28 percent would be spent for investment and development. The Ministry of Finance's head office Minister of Finance Ho Duc Phoc has signed Decision No 1687 dated September 7 on the Ministry of Finance (MOF) action plan in the 2021-2026 tenure. Some detailed goals in the action plan include resolutions, plans and programs of the Party, National Assembly, and Government, including a policy on state budget mobilization and collection in 2021-2025 to ensure competitiveness of enterprises and attract investment capital to develop businesses in all sectors, with an emphasis on the private sector. At the same time, state financial resources are needed to implement socio-economic development tasks and ensure national security and national defence. It is expected that the mobilization rate for the State budget in 2021-2025 will be no less than 16 percent of GDP on average, of which …

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Vietnam's health sector has surveyed and evaluated the capacity of oxygen production nationwide, which showed that the ability to supply oxygen from domestic production units was 30 times higher than the current demand in hospitals. Vietnam’s Ministry of Health has asked all localities nationwide to proactively make plans to enhance the supply of medical oxygen for patients of Covid-19 and other diseases. According to Deputy Minister of Health Tran Van Thuan, greater investment in the medical oxygen supply system must be determined as a long-term measure that can contribute to the ongoing Covid-19 battle whilst offering sustainable use after the pandemic. A doctor treats a serious Covid-19 patient at Go Vap Hospital in Ho Chi Minh City. Photo: Khoi Nguyen “This should be done whilst expanding the production scale and the network of supplying medical oxygen at medical health stations to save the lives of Covid-19 patients, and creating a solid foundation …

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The Ministry of Planning and Investment (MPI) plans to submit its economic recovery project to competent authorities for approval in October, with the 2022 to 2023 period to be identified as the ideal time for recovery efforts. Minister of Planning and Investment Nguyen Chi Dung addresses the event. (Photo: Zingnews.vn) This information was unveiled by Minister of Planning and Investment Nguyen Chi Dung during a teleconference held on September 14 to devise socio-economic development plans and public investment in 2022 for the northern midland, mountainous regions and the Red River Delta. This comes following Prime Minister Pham Minh Chinh asking the Ministry of Planning and Investment at a regular Government meeting to design scenarios aimed at economic recovery and development moving forward into the new situation. According to a MPI report, a majority of northern localities such as Hanoi, Hai Phong, Vinh Phuc, Hung Yen, and Thai Binh are unlikely to fulfill their …

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National Assembly Chairman Vuong Dinh Hue (left) met with European Parliament President David Sassoli. Photo: VNA During last week’s meeting between Vietnamese National Assembly Chairman Vuong Dinh Hue and European Parliament (EP) President David Sassoli, the latter said that the EP has signed the adoption of the EU-Vietnam Investment Protection Agreement (EVIPA) and is now urging EU member states that have yet to adopt the deal to ratify it as soon as possible. The EVIPA, ratified by the EP and Vietnam in February and June 2020, respectively, is aimed for investments of both sides to pour into their respective territories more favourably. The EP in February 2020 also adopted the EU-Vietnam Free Trade Agreement (EVFTA), which has been in effect for over one year. However, the EVIPA is still subject to EU member ratification procedures. To date, the Czech Republic, Estonia, Greece, Hungary, Latvia, Romania, and Sweden have adopted the deal. If the EVIPA is fully ratified by …

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NA Chairman Vuong Dinh Hue witnesses the signing of cooperation agreements between Vietnam and Belgian and EU firms (Photo: VNA) Hanoi (VNA) – During the recent Europe trip, National Assembly Chairman Vuong Dinh Hue and leaders of three ministries conducted many activities to promote trade, investment and agricultural cooperation with European countries and proposed the European Commission (EC) consider removing the “yellow card” on Vietnam's fisheries sector. The NA leader and members of the Vietnamese high-ranking delegation lobbied competent agencies of the European Council and the European Parliament (EP) as well as European partner to hasten the parliaments of European countries and the EP to soon ratify the EU-Vietnam Investment Protection Agreement ( EVIPA ). So far, only eight out of 27 EU member parliaments have approved the deal. The Vietnamese delegation spread the message that investing in Vietnam means penetrating the over 600-million-strong ASEAN market …

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HCM City’s master plan calls for the city to be developed into the nation’s largest economic hub for tourism, industrial services and high-tech agriculture by 2040, with a focus on climate change adaptation. The new Thu Duc City. By 2040, HCM City is expected tobethe nation’s largest economic hub fortourism, industrial servicesand high-tech agriculture, and willfocus on adaptingto climate change and rising sea levels, according tothecity's master plan. According to a Government decision on the master plan, the city is expected to have 13-14 million people by 2040 and 16 million by 2060. It plans to allocate 100,000-110,000ha of land for urbanisation by 2040. The city will remain the country’s economic and technological hub, focusing on innovation as part of the national urban development strategy. Under the master plan, the city will develop a complete infrastructure linking the city with neighbouring provinces. The newly established Thu Duc City will be …

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The planning of beltway projects in Ho Chi Minh City The Government Office on September 19 issued Document No.6607/VPCP-CN on the direction of Deputy Prime Minister Le Van Thanh about the Ho Chi Minh City Beltway 4 project. Accordingly, he has asked the Ministry of Transport (MoT) to work with relevant cities and provinces to study and propose the investment plan and gather comments from relevant ministries for Ho Chi Minh City Beltway 4 to ensure its feasibility. Earlier in July 2021, Deputy Prime Minister Truong Hoa Binh, who has retired since, asked the MoT and relevant localities to speed up work on component projects with a focus on public-private partnerships. The Ho Chi Minh City Beltway 4 is expected to be 197.6km in length, running through Ho Chi Minh City and the four southeastern provinces of Ba Ria-Vung Tau, Dong Nai, Binh Duong, and Long An, joining the southern economic hubs. Ho Chi Minh City, Dong Nai, Binh Duong, and Long An are now among the most …

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Foreign businesses in Vietnam have expressed their concerns over the prolonged social distancing measures applied throughout the country to stall the coronavirus spread, warning that it would miss many investment opportunities given slow economic reopening. Foreign business associations including AmCham Vietnam, the U.S.-ASEAN Business Council, EuroCham, and KoCham recently sent a joint letter to the central government to propose a strategy on ‘localized pandemic prevention and control,’ aimed at restoring safe production and business activities in a 'new normal.' It is important that Vietnam take action now to maintain its regional and global competitiveness, and not to lag in economic recovery, the letter wrote. The business associations said they support the strategy to adapt to living with the virus safely and wish to joint hands with the government and localities to reopen the economy safely and enable economic recovery. Businesses need a clear road map and an exact date …

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