Viet Nam conducts trials on advanced traffic management

The inspection on the capital efficiency of construction investments managed by Airports Corporation of Vietnam (ACV) is now underway by the Inspectorate of the Ministry of Transport (MoT). The inspection team will examine ACV’s performance on raising, managing, and employing capital for construction investment, including capital from the National Budget, loans, development capital, and social capital managed by MoT and ACV. The inspection period includes 2015, 2016, and relevant years (year of project formulation for projects that have not been finalised or are currently monitored for repayment). The time and duration of the inspection will be in accordance with Vietnam's Law on Inspection, starting from the date of the inspection decision, August 9. At the meeting, Le Thanh Ha, Chief Inspector of MoT, requested ACV and relevant agencies to fully cooperate with the inspection team according to laws. The chief inspector also requested the inspection team to follow the inspection decision and carry out all functions, tasks, local authorities, and procedures in accordance with the Law on Inspection. Representatives of ACV and other agencies subject to the inspection have affirmed their commitment to follow the inspection decision by MoT and cooperate fully with the inspection team. Currently, ACV is operating 22 airports nationwide with an estimated operation cost of around VND9.62 trillion ($423.3 million) in 2017. This cost includes six projects to upgrade infrastructure with the total investment of more than VND6 trillion ($264 million). At the annual shareholders’ meeting on June 28, ACV announced that its 2017 targeted revenue…... [read more]

The inspection on the capital efficiency of construction investments managed by Airports Corporation of Vietnam (ACV) is now underway by the Inspectorate of the Ministry of Transport (MoT). RELATED CONTENTS: ACV pours $263m into expanding major airports ACV might look for more strategic investors Airport operator plans 25 per cent revenue increase ACV hit by exchange rate fluctuations once again Tan Son Nhat airport to expand this October Negotiation between Airport Corporation of Vietnam and French investor hits major bottlenecks ACV picks coconut leaf design for Long Thanh International Airport The inspection team will examine ACV’s performance on raising, managing, and employing capital for construction investment, including capital from the National Budget, loans, development capital, and social capital managed by MoT and ACV. The inspection period includes 2015, 2016, and relevant years (year of project formulation for projects that have not been finalised or are currently monitored for repayment). The time and duration of the inspection will be in accordance with Vietnam's Law on Inspection, starting from the date of the inspection decision, August 9. ACV's capital efficiency  is to be inspected by the Inpectorate of MoT At the meeting, Le Thanh Ha, Chief Inspector of MoT, requested ACV and relevant agencies to fully cooperate with…... [read more]

Tan Son Nhat airport (Source: VNA) Hano​i (VNA) – Prime Minister Nguyen Xuan Phuc has agreed to hire foreign consultants to consider the expansion of the Tan Son Nhat international airport in Ho Chi Minh City without limitation in land use planning. The move is in line with Article 26 of the Law on Bidding on hiring international consultants in special cases. Foreign consultants will also be hired to assess the use of land for the aviation sector and build plans for the airport expansion along with adjusting the airport’s master plan as well as related development plans in the area to both the north and the south. The Ministry of Transport will chair over the selection of competent, prestigious and experienced foreign consultants according to the country’s legal regulations. The ministry was also tasked to decide on the use of funding sourced by the Vietnam Airports Corporation’s development investment fund with advice from the Ministry of Planning and Investment, the Ministry of Justice, and the Ministry of Finance.   [Foreign consultant to be hired to study additional runway] The transport ministry has to take legal responsibilities for the selection of overseas consultants as well as its decisions on the aforesaid issues, and report to the Government leader in December 2017. The ministry was also asked to closely work with the Ministry of National Defense and the People’s Committee of Ho Chi Minh City to create the best conditions for the…... [read more]

NDO/VNA – Prime Minister Nguyen Xuan Phuc has agreed to hire foreign consultants in order to consider the expansion of the Tan Son Nhat international airport in Ho Chi Minh City without any limitations in the land use planning. >>> PM directs pre-feasibility study report for Long Thanh Airport resettlement project The move is in line with Article 26 of the Law on Bidding on hiring international consultants in extenuating circumstances. Foreign consultants will also be hired to assess the use of land for the aviation sector and build plans for the airport expansion along with adjusting the airport’s master plan as well as related developmental plans in the area to both the north and the south. The Ministry of Transport will chair over the selection of competent, prestigious and experienced foreign consultants according to the country’s legal regulations. The ministry was also tasked to decide on the use of funding which was sourced by the Vietnam Airports Corporation’s development investment fund with advice from the Ministry of Planning and Investment, the Ministry of Justice, and the Ministry of Finance. The transport ministry has to take legal responsibilities for the selection of overseas consultants as well as its decisions on the aforesaid issues, and report to the Government leader in December 2017. The ministry was also asked to closely work with the Ministry of National Defence and the People’s Committee of Ho Chi Minh City to create the best conditions for the selected foreign…... [read more]

The Prime Minister has agreed with the plan of hiring international consultants to review, study and estimate land use for aviation industry, build a project to broaden Tan Son Nhat Airport, set up an adjusted overall plan of airports and plans relating to Tan Son Nhat Airport without limitation in land use plan to improve the capacity of infrastructure exploitation and suit the development speed of air transport. The Ministry of Transport will decide to assign an agency to set up plan, a company to be the investor of the airport broadening project and select a qualified, prestigious and experienced international consulting firm as per the law. In addition, it should acquire opinions from the Ministry of Planning and Investment, the Ministry of Justice and the Ministry of Finance to use the investment and development fund of Airports Corporation of Vietnam to implement the project. According to the resolution, the Government also asks the Ministry of Transport to improve the use efficiency of seaports in Cai Mep-Thi Vai area in HCMC-Ba Ria-Vung Tau seaport complex, speed up connectivity traffic projects, develop logistics infrastructure for Saigon Seaport and quickly complete relevant procedures to submit North-South Expressway project to the Central Committee of the Communist Party of Vietnam and the National Assembly.By staff writers – Translated by Hai Mien... [read more]

The Prime Minister has agreed with the plan of hiring international consultants to review, study and estimate land use for aviation industry, build a project to broaden Tan Son Nhat Airport, set up an adjusted overall plan of airports and plans relating to Tan Son Nhat Airport without limitation in land use plan to improve the capacity of infrastructure exploitation and suit the development speed of air transport. The Ministry of Transport will decide to assign an agency to set up plan, a company to be the investor of the airport broadening project and select a qualified, prestigious and experienced international consulting firm as per the law. In addition, it should acquire opinions from the Ministry of Planning and Investment, the Ministry of Justice and the Ministry of Finance to use the investment and development fund of Airports Corporation of Vietnam to implement the project. According to the resolution, the Government also asks the Ministry of Transport to improve the use efficiency of seaports in Cai Mep-Thi Vai area in HCMC-Ba Ria-Vung Tau seaport complex, speed up connectivity traffic projects, develop logistics infrastructure for Saigon Seaport and quickly complete relevant procedures to submit North-South Expressway project to the Central Committee of the Communist Party of Vietnam and the National Assembly.By staff writers – Translated by Hai Mien... [read more]

Vietnam’s stock market has 23 companies valued at over 1 billion USD and most of them have reported higher business results in the first half of this year. An investor watches stocks move at Vietcombank Securities Company. Vietnam’s stock market has 23 companies valued at over 1 billion USD. Vinamilk (VNM), the biggest listed firm, is also the most profitable company with the six-month profit of nearly 5.9 trillion VND (258 million USD), up 18 percent over the same period of last year. In the first half, Vinamilk’s turnover from overseas markets shrank from 19 percent last year to only 15 percent this year, but takings from the domestic market rose by 10 percent, owing to heavy spending on advertisement worth around 396 billion VND. In terms of revenue, petrol retailer Petrolimex (PLX) was on the top of the list with over 74 trillion VND (3.25 billion USD), up 26 percent year-on-year. Revenue growth was attributable to increases in global oil prices averaging at 25.6 percent in the first six months of this year. However, due to a higher cost price and rising financial expenses, including exchange losses, Petrolimex’s profits declined 12 percent year-on-year to just 1.8 trillion VND (79.3 million USD). Seven of the nine listed banks have market cap of over 1 billion USD but their profits accounted for nearly 40 percent of total earnings of 23 largest listed businesses. The profit growth of the banking sector averaged 30 percent in the first six months while that of…... [read more]

An investor watches stocks move at Vietcombank Securities Company. Vietnam’s stock market has 23 companies valued at over 1 billion USD. (Photo: VNA) Hanoi (VNA) - Vietnam’s stock market has 23 companies valued at over 1 billion USD and most of them have reported higher business results in the first half of this year. Vinamilk (VNM), the biggest listed firm, is also the most profitable company with the six-month profit of nearly 5.9 trillion VND (258 million USD), up 18 percent over the same period of last year. In the first half, Vinamilk’s turnover from overseas markets shrank from 19 percent last year to only 15 percent this year, but takings from the domestic market rose by 10 percent, owing to heavy spending on advertisement worth around 396 billion VND. In terms of revenue, petrol retailer Petrolimex (PLX) was on the top of the list with over 74 trillion VND (3.25 billion USD), up 26 percent year-on-year. Revenue growth was attributable to increases in global oil prices averaging at 25.6 percent in the first six months of this year. However, due to a higher cost price and rising financial expenses, including exchange losses, Petrolimex’s profits declined 12 percent year-on-year to just 1.8 trillion VND (79.3 million USD). Seven of the nine listed banks have market cap of over 1 billion USD but their profits accounted for nearly 40 percent of total earnings of 23 largest listed businesses. The profit growth of the banking …... [read more]

VinaCapital acquires $11-million stake in infrastructure construction and real estate developer Tasco JSC, making another step in its investment restructuring initiative. VinaCapital's $11 million buy-in of Tasco is a continuation of the company's strategy (Source: tasco.com.vn) According to newswire DealStreetAsia, Ho Chi Minh City-headquartered VinaCapital, through its vehicle Vietnam Opportunity Fund (VOF), has acquired almost half of the stakes put on private placement by Tasco JSC, becoming a major shareholder. The company put 21 per cent of its post-investment shares up for sale, with the value of roughly $23 million. Next to VinaCapital’s sizeable purchase, Tasco’s management team and other investors also participated in the private placement, taking up smaller shares. Earlier, Tasco announced issuing 50 million new shares to investors. At the time, VinaCapital was to pick up 30 million of these shares, accounting for 12.5 per cent equity in the company. The offer price was VND10,500 ($0.46) per share, which VinaCapital called an “attractive price,” as reported by DealStreetAsia, especially in light of the VND11,700 ($0.51) the shares were traded at on August 7. “This investment is consistent with our philosophy of investing in companies that are focused on the growth of the local economy, and infrastructure improvement is a critical element in Vietnam’s on-going development,” commented Andy Ho, CIO of VinaCapital and managing director of VOF to DealStreetAsia. In 2016, Tasco reported a revenue of $124 million, with a net profit…... [read more]

Vietnam’s stock market has 23 companies valued at over US$1 billion and most of them have reported higher business results in the first half of this year. Vinamilk (VNM), the biggest listed firm, is also the most profitable company with the six-month profit of nearly VNĐ5.9 trillion ($258 million), up 18 per cent over the same period of last year. In the first half, Vinamilk’s turnovers from overseas markets shrank from 19 per cent last year to only 15 per cent this year, but takings from the domestic market rose by 10 per cent, owing to heavy spending on advertisement worth around VNĐ396 billion. In terms of revenue, petrol retailer Petrolimex (PLX) was on the top of the list with over VNĐ74 trillion, up 26 per cent year-on-year. Revenue growth was attributable to increases in global oil prices averaging at 25.6 per cent in the first six months of this year. However, due to a higher cost price and rising financial expenses, including exchange losses, Petrolimex’s profits declined 12 per cent year-on-year to just VNĐ1.8 trillion. Bank dominance Seven of the nine listed banks have market cap of over $1 billion but their profits accounted for nearly 40 per cent of total earnings of 23 largest listed businesses. The profit growth of the banking sector averaged 30 per cent in the first six months while that of the non-banking groups was only 3 per cent. Vietcombank (VCB), the biggest listed lender with a market cap of $6.1 billion, reported the…... [read more]




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