First phase

The HCMC Management Authority for Urban Railways (MAUR), the main project investor, on Saturday stated the Export-Import Bank of Korea (Kexim Bank) has proposed to look into investing in the project's second phase through PPP. The bank would provide the capital to update the project's pre-feasibility study after switching the investment method from official development assistance (ODA) to PPP. The pre-feasibility study for the second phase of HCMC's fifth metro line was previously sponsored by Korea International Cooperation Agency (KOICA). But the ODA investment method could not proceed, so the PPP option was considered instead to allow the private sector to invest in the project. The total investment capital for the phase is around $2.1 billion, with two South Korean investors having expressed interest in funding the initiative. As planned, HCMC's fifth metro line would span 24 kilometers, running from the new Can Giuoc Station in District 8 to Saigon Bridge. The pre-feasibility … [Read more...] about Second phase of Saigon metro line open to public-private investment

The first 35 volunteers received injections of the locally-produced Nano Covax vaccine in the 2nd phase of human trials at the Military Medical University in Hanoi on February 26. Nanocovax is Vietnam’s first COVID-19 vaccine to reach the human trial stage. The 35 volunteers were selected from among some 300 people who registered to participate in the 2nd phase trials of the vaccine at the university after undergoing rigorous medical examinations. They have been divided into three groups, receiving doses of 25 mcg, 50 mcg, or 75mcg, with one group of five people receiving a placebo. Volunteers in the second phase will be taking one of the three shots, as in the first phase, to guarantee accurate scientific results. The group being given a placebo is the control group. The primary results are expected to be released in May. After May, experts will consider and evaluate the 2nd phase and prepare for the 3rd phase, in which the number of volunteers is expected to increase … [Read more...] about Made-in-Vietnam vaccine enters 2nd phase of human trials

New US President Joseph R. Biden was sworn in with his wife Jill Biden by his side, photo: AFP Last Wednesday many Americans breathed a sigh of relief as Joe Biden was sworn in as the 46th US President without any further incident from those who believe the election was “stolen” from former President Donald Trump. Instead of attending the ceremony as is tradition, Trump and his family took one last trip on Air Force One to Florida, where he will be based until the former reality TV star decides whether to run for president again in 2024 – or perhaps even endorse a family member for the post. Alongside Biden, Kamala Harris was sworn in as vice-president, becoming the first woman in American history – as well as the first woman of African-American and South Asian descent – to take on the role. “Few people in our nation’s history have been more challenged or found a time more difficult than the time we’re in now,” Biden said in his inauguration speech. He vowed to dedicate … [Read more...] about Domestic strife dampens US foreign policy

Head coach Park Hang Seo of Vietnam’s national football squad wants to have more time training his players before the World Cup second qualifying round, but his request will be difficult to meet. V-League is schedule to resume in March. In order to best serve the Vietnamese team to play the World Cup 2022 qualifier, the Vietnam Football Federation has set two options for the return of V-League 2021 after a break due to Covid-19 pandemic. Option 1: V-League will resume on March 13 and close on September 19. Phase 1 of V-League 2021 is scheduled to temporarily cease on May 22 for players of the national squad to group up to prepare for the World Cup 2022 qualifiers. Thus, coach Park Hang Seo will have one week to train his team before going to the United Arab Emirates or Thailand (the Asian Football Confederation - AFC will decide on March 15). Chairman of Vietnam Professional Football (VPF) Tran Anh Tu said that the two plans are being carefully considered to … [Read more...] about World Cup qualifiers: Coach Park Hang Seo makes “special” requests

MPI proposes a draft decree on procurement bidding under CPTTP MPI proposes a draft decree on procurement bidding under CPTTP The Ministry of Planning and Investment (MPI) has summited to the Government a draft decree on amending Decree 95/2020/ND-CP providing guidelines on procurement bidding under the Comprehensive and Progressive Trans-pacific Partnership Agreement (CPTTP). According to the MPI, the draft decree will amend and supplement some articles of Decree No 95. It aims to guide State companies to execute bidding packages under the CPTTP agreement and EU-Việt Nam Free Trade Agreement (EVFTA). However, per the Government's Resolution No 190/NQ-CP on the provisional application of the UK-Việt Nam FTA (UKVFTA), Việt Nam agreed to temporarily apply the UKVFTA from January 1, 2021. The agreement was negotiated based on the principle of inheriting commitments in the EVFTA with necessary adjustments to ensure compliance with the bilateral trade framework between Việt Nam … [Read more...] about VIETNAM BUSINESS NEWS FEB. 27