Topic: projects

Central province project terminated after investor failed to fulfil legal obligations.

Measures to be taken to facilitate project implementation in south-central province.

In its 2023 plan, State Audit of Vietnam (SAV) will concentrate on assessing financial market restructuring, focusing on commercial banks and credit institutions. In the field of construction investment, SAV is expected to conduct 26 audits of investment projects, including key traffic projects such as the East North-South Expressway, Long Thanh International Airport, and coastal roads, among others.

Deputy Prime Minister Le Minh Khai has signed Directive No. 17/CT-TTg dated October 5, 2022 from the Prime Minister on accelerating the allocation and completion of investment procedures for projects in the medium-term public investment plan for the 2021-2025 period. He has called for investment to focus on key industries and sectors and growth poles to improve the efficiency of public investment capital. Leaders from ministries, branches, and localities must direct and inspect projects in accordance with approved planning.

Four highway projects and the T3 passenger terminal project at Tan Son Nhat International Airport in Ho Chi Minh City and associated traffic routes were approved by the Prime Minister for addition to the list of key national projects and key transport projects. He also asked that expressway projects begin before June 30, 2023.

Southern Binh Phuoc province attracted 70 FDI projects last year with total capital of $600 million, bringing its total to 346 FDI projects with more than $3.579 billion in capital. With such achievements, Binh Phuoc has been promoting itself as a “magnet” for FDI. It also continues to boost the development of industrial parks, which not only has a positive effect on changes to its economic structure and resolves job needs, but also grows the local budget.

Electricity of Vietnam (EVN) is implementing a number of power transmission projects to import electricity into Vietnam. Some are facing problems with procedures for land use conversion and site clearance, however, which can lead to slow progress. EVN General Director Tran Dinh Nhan has urged construction contractors to work decisively to complete projects on schedule.

The Mekong Delta’s Tien Giang province has announced a list of projects calling for investment, including 59 projects with total capital of more than VND22 trillion ($929.85 million) in the fields of urban development, residential areas, trade and services, tourism, industry, agriculture, health, education, and sport.

Billion-dollar projects on thousands of hectares have contributed to creating a new look for south-central Binh Thuan province and it becoming a leading tourist and entertainment destination. As of July, the province had 382 tourism projects, of which 188 had been put into operation on 6,300 ha with total capital of VND70 trillion ($2.9 billion).

Disbursed investment in August from the State budget managed by Hanoi reached VND4.188 trillion ($178 million), up 2.2-fold year-on-year. Investors and construction units have focused their resources on speeding up construction progress at key projects to boost disbursement and create a driver for the capital’s development.