Vietnam Today

On June 16, the National Assembly (NA) approved the construction of the Khanh Hoa - Buon Ma Thuot Expressway, first phase, connecting south-central Khanh Hoa and the central highlands’ Dak Lak provinces, stretching 117 km in length and with total investment of nearly VND22 trillion ($946 million) from the State budget. Project implementation is subject to special mechanisms, and completion is expected in 2027.

The National Assembly (NA) passed a Resolution on June 16 on piloting a number of specific development mechanisms in south-central Khanh Hoa province, to be implemented over five years from August 1. Regarding the development of the Van Phong Economic Zone, the Resolution stipulates a list of industries and occupations prioritized to attract investment.

Despite only appearing in Vietnam over the past two years, the “billionaire economy” is nonetheless forecast to explode in the future. Some economic organizations have said that anticipated growth in Vietnam’s super-rich of 12.7 per cent a year will rank it third in the world, just behind Bangladesh and China. This represents an opportunity for, among others, super luxury products in resort real estate.

In the face of global price pressure, on June 13 Deputy Prime Minister Le Minh Khai, Head of the Steering Committee for Price Management, called for strict management over the prices of certain essentials as well as freight rates. Regarding petroleum products, he asked for flexible management and the reasonable use of the Price Stabilization Fund.

Deputy Prime Minister Le Van Thanh has assigned the Inter-Sectoral Appraisal Council to consider a pre-feasibility study submitted by the Ministry of Transport on the Dau Giay - Tan Phu Expressway project running through southern Dong Nai province, to be built under the public-private partnership (PPP) model with total investment of nearly VND8.5 trillion ($366.3 million). With a length of more than 200 km, the expressway will be a driving force of economic development in the southern region and central highlands and will also promote the Nha Trang - Da Lat - Ho Chi Minh City tourism triangle.

At a conference on the sustainable development of Vietnam’s marine economy in 2022, held on June 12, Head of the Party Central Committee's Economic Commission Tran Tuan Anh said the marine and coastal economy is becoming a dynamic driver of growth in Vietnam. According to the Directorate of Fisheries, the country’s sea areas hold many advantages and great potential, but the development of the marine economy still faces difficulties. It is therefore necessary to adopt reasonable policies for its sustainable development.