Investment

Chairman of the Binh Duong Provincial People’s Committee Vo Van Minh has chaired a meeting to report on the compiling of a list of cultural and sports works to be included in provincial planning for the 2021-2030 period and vision to 2050. Leaders from the Department of Culture, Sports and Tourism in the southern province proposed building the Binh Duong Sports Industry Complex on 200 ha, with a central stadium seating 50,000-60,000 people, a 40-ha multi-purpose gymnasium center, a water sports arena, a sports service area, and other works.

Construction of the CW01 package of nearly VND500 billion ($21.13 million), connecting northern Lai Chau province with the Noi Bai - Lao Cai Highway through Lao Cai province under the Northern Mountainous Traffic Connection project, begun on September 19. The key project has total investment of more than $235 million, from Asian Development Bank (ADB) ODA loans, Australian Government grants, and domestic counterpart funding.

The recovery of the tourism sector is driving greater expectations surrounding resort real estate. However, according to a DKRA report, resort real estate will be influenced by the gloomy nature of the country’s real estate market as capital becomes more limited than previously.

The provinces of Tien Giang, Ben Tre, and Tra Vinh in the Mekong Delta have discussed the use of loans to kick off a project building a coastal road. The 740-km project, from Ho Chi Minh City to Ha Tien and passing through Tien Giang, Ben Tre, Tra Vinh, Soc Trang, Bac Lieu, Ca Mau, and Kien Giang provinces, is expected to be a driving force of regional economic change.

Addressing the Vietnam Socio-Economic Forum 2022, Mr. Nguyen Quoc Hiep, Chairman of the Vietnam Association of Construction Contractors, proposed several solutions to speed up the disbursement of public investment capital. He said the first bottleneck is that payment and settlement procedures and investment procedures remain cumbersome, and the assignment of responsibilities has not been clarified. The second is that many public construction unit prices are low, some at just one-third of actual implementation, so many contractors do not want to be involved.

Mr. Thomas Sanderson, Marketing Director of Boeing Commercial Airplanes, has said Southeast Asia will need about 4,200 new aircraft over the next 20 years, with Vietnam to account for a significant proportion. Growth in the country’s aviation sector in terms of passengers, cargo, and aircraft numbers has increased 5-7 times more than the regional average.