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Shrimps processed for export (Photo: VNA) HCM City (VNA) – Ho Chi Minh City ’s Department of Industry and Trade has set the target to export 48.19 billion USD worth of products in 2021, a year-on-year surge of 10 percent. Under its development plan for 2021 recently submitted to the municipal People’s Committee, the sector said import revenue is estimated at 56.47 billion USD for the whole year, up 11 percent against the previous year. Besides, it eyed to reel in more than 835.68 trillion VND (36.29 billion USD) from retail sales and services revenues in the year, up 10 percent year-on-year. The department said it will carry out necessary measures in a comprehensive fashion to branch out industry and trade, contributing to promoting economic recovery of the southern hub. Earlier, HCM City set a goal of boosting the export of its key products this year and beyond via trade promotion activities and assistance to enterprises. Head of the statistics office Huynh Van … [Read more...] about HCM City eyes 10 percent growth in export in 2021

The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) jumps 37 spots to enter the Brand Finance’s top 250 in rankings of the world’s most valuable banks in 2021. (Photo: VNA) Hanoi (VNA) – The Vietnam Prosperity Joint Stock Commercial Bank ( VPBank ) has jumped 37 spots to enter the Brand Finance’s top 250 in rankings of the world’s most valuable banks in 2021. According to the Brand Finance Banking 500 2021 ranking , VPBank ranked 243rd in banking brand value this year. Its brand value grew 41 percent to 502 million USD this year from 354 million USD in 2019. It also represents a nine-fold increase against 2016 when the bank’s brand value was first evaluated at 56 million USD. The 2021 ranking was calculated based on a brand’s market share, growth rate, property size, financial capacity, operating efficiency and prestige, said Lai Tien Manh from Brand Finance Vietnam. In the face of COVID-19 that has taken a heavy toll on the global financial system, … [Read more...] about VPBank breaks into Brand Finance’s top 250 value banks in 2021

The track of Metro Line No. 1, from Ben Thanh Market to Suoi Tien Theme Park, in HCM City (Photo: VNA) HCM City (VNA) – The Export-Import Bank of the Republic of Korea (KEXIM) has asked Ho Chi Minh City ’s authorities for permission to conduct an investment study for Phase 2 of Metro Line No. 5 , set to be carried out in the public-private partnership (PPP) format. In its letter sent to the Chairman of the municipal People’s Committee and the city’s Management Authority for Urban Railways (MAUR), KEXIM said it will soon provide funding for the update of the project’s pre-feasibility study, which covers technical, financial, and legal aspects, according to the MAUR. The bank noted that members of the research group and participating investors have experience in building and operating urban railway routes, including Metro Line No. 9 of the RoK’s Seoul capital, in the PPP format. The MAUR said it had a working session on January 19 with some investors and consultancies … [Read more...] about HCM City: Korean bank proposes investment study for Metro Line No. 5

Prime Minister Nguyen Xuan Phuc has approved projects on the construction and infrastructure development of three industrial parks (Illustrative photo: VNA) Hanoi (VNA) - Prime Minister Nguyen Xuan Phuc has approved projects on the construction and infrastructure development of three industrial parks (IPs). One of them is the Co Chien IP in Dai Phuoc commune in Cang Long district of the Mekong Delta province of Tra Vinh . The IP, covering nearly 200 ha, will be built at a cost of 748.98 billion VND (nearly 32.47 million USD), of which 112.35 billion VND comes from the investor. Another is the 300-ha Tan Duc IP in Ham Tan district of the southern coastal province of Binh Thuan, invested by Sonadezi Binh Thuan JSC with an investment worth 1.2 trillion VND. PM Phuc also okayed the investment at Song Lo II IP in Vinh Phuc province in the north. It will be constructed on an area spanning about 165.66 ha with a budget of 1.52 billion VND. The Government leader … [Read more...] about PM approves construction of three IPs

In its letter sent to the Chairman of the municipal People’s Committee and the city’s Management Authority for Urban Railways (MAUR), KEXIM said it will soon provide funding for the update of the project’s pre-feasibility study, which covers technical, financial, and legal aspects, according to the MAUR. The bank noted that members of the research group and participating investors have experience in building and operating urban railway routes, including Metro Line No. 9 of the RoK’s Seoul capital, in the PPP format. The MAUR said it had a working session on January 19 with some investors and consultancies from the RoK to discuss the study and related orientations for the project. The Korean side, including KEXIM and some businesses and consultancies, presented the plan to update the pre-feasibility study, whose final version is expected to be submitted by the end of 2021. The pre-feasibility study for Phase 2 of Metro Line No. 5 was previously financed by the Korea … [Read more...] about HCMC: Korean bank proposes investment study for Metro Line No. 5