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The Hanoitimes - With a strong certainty that air travel will recovery when the pandemic ends, airports are seen as long-term asset. In that case, any decision related to airport projects must be for the long-term view. The Covid-19 pandemic could not prevent Vietnam from going ahead with the construction of a US$16-billion Long Thanh International Airport, the largest of its kind in Southeast Asia, experts suggested. In January, the construction of the first phase of the Long Thanh Airport was kicked off. “While plans to build new airport or expand existing ones were prepared many years before the Covid-19 pandemic, they represent a long-term vision at national level, and, therefore, should be realized,” economist Nguyen Minh Phong told Hanoitimes , shrugging off a view that a slow recovery in air travel in the near future as a result of the Covid-19 pandemic would put the feasibility of these projects in doubt. “Investment in transport infrastructure … [Read more...] about Covid-19 pandemic makes no hurdle to Vietnam’s building plan of SEA largest airport: Experts

The Hanoitimes - The Ministry of Transport would review this loan and report to the government. State-owned Swedish Export Credit Corporation (SEK) proposed a US$2 billion commercial loan to build Long Thanh International Airport and terminal T3 for Tan Son Nhat International Airport. Sweden’s Ambassador to Vietnam Ann Mawe hands over an intention letter of a commercial loan for Minister of Transport Nguyen Van The. Source: MoT. Sweden’s Ambassador to Vietnam Ann Mawe revealed the intention at a meeting with Minister of Transport Nguyen Van The on December 4. Mrs. Mawe added that during the visit of Prime Minister Nguyen Xuan Phuc to Sweden in May, the two countries’ prime ministers discussed a potential loan worth over US$1 billion for Long Thanh airport construction and air traffic control activities in Vietnam. The loan would come with an interest rate of 4.2% per year, including a 1.25% of insurance fee for the loan. To be eligible for the loan, … [Read more...] about Sweden proposes US$2-billion commercial loan for aviation projects in Vietnam

The Hanoitimes - The first phase of the project, estimated at VND99 trillion (US$4.25 billion), is set to be completed within 60 months and become operational by December 2025. Airports Corporation of Vietnam (ACV), the largest operator of 22 commercial airports in the country, plans to start the construction of Long Thanh International Airport, the largest of its kind in Vietnam, in late December. Design of Long Thanh International Airport. Under Prime Minister Nguyen Xuan Phuc’s approval of the construction of the first phase of Long Thanh Airport on November 11, the ACV is tasked with building a runaway, taxiways, a passenger terminal with capacity of 25 million passengers and a cargo terminal capable of handling 1.2 million tons of goods per year, along with other supporting facilities. Total investment capital of the first phase of construction is estimated at VND99 trillion (US$4.25 billion) and funded by ACV itself. ACV’s Chairman of Board Lai … [Read more...] about Work on Vietnam’s largest airport to begin in December

Vietnam needs over US$128 billion for power investment next 10 years A drone is used to inspect a power transmission system in Vietnam. The country will need an estimated US$128.3 billion for developing the power system in the next decade The Institute of Energy, under the Ministry of Industry and Trade, on February 22 continued to collect feedback over the plan from the relevant agencies. According to the plan, during the 10-year period, Vietnam will need to pour some US$12.8 billion on average into the power sector per year. The total investment for the following 15 years from 2031 to 2045 will be some US$192 billion, including some US$140 billion for power sources and US$52 billion for the grid. The draft zoning plan also revealed that Vietnam will continue to import electricity from China, Laos and Cambodia in the next 10 years. The State-run Vietnam Electricity Group is purchasing electricity from China through two 220kV power lines, with 1.5 billion kWh of … [Read more...] about VIETNAM BUSINESS NEWS FEB. 26

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