Investment

Ho Chi Minh City’s trade is still recording impressive growth despite Vietnam being affected by the troublesome global situation. A report from the city’s Department of Statistics shows that export turnover was $4.156 billion in September, an increase of 0.3 per cent compared to August, while import turnover in the first nine months was $48.764 billion, up 10.3 per cent year-on-year.

Southern Binh Duong province posted export turnover of $27.06 billion in the first nine months of 2022, up 11.9 per cent year-on-year, and import turnover of $19.21 billion, down 1.6 per cent. It therefore recorded a trade surplus of nearly $7.9 billion. Binh Duong has regularly been among the Top 5 cities and provinces with a trade surplus of $6 billion or more.

Vietnam is yet to have a plan for sea areas for wind power development, and there are legal and technical problems for the offshore wind power sector. The Ministry of Natural Resources and Environment has therefore proposed suspending appraisals of offshore wind power surveys until the government promulgates a Resolution on wind measurement, observation, investigation, and geological surveys and a topographic assessment of environmental impacts at sea.

The Hanoi People’s Committee held a breaking ground ceremony on October 7 for the “Strengthening sustainable urban transport for Hanoi’s metro line No. 3 project”, with total investment of nearly $55 million coming from loans from the Clean Technology Fund (CTF), the Asian Development Bank (ADB), and reciprocal capital. The project will help Hanoi strengthen the development of a multi-modal public transport network.

To resolve congestion problems facing road exports to China, the Ministry of Finance has agreed with a proposal from the Ministry of Transport to turn Kep train station in northern Bac Giang province into an international intermodal terminal and to upgrade infrastructure at train stations in other cities to speed up goods clearance.

The Di Linh District People’s Committee in the central highlands’ Lam Dong province has proposed adding 141 projects with investment priority to provincial planning for the 2021-2030 period and vision to 2050. Eight projects are in trade and services and research centers, 34 in industry, tourism, and residential areas, and 53 in transportation.