Industrial production continued to thrive in the first quarter with the entire sector’s added value rising 6.18% year on year, the Ministry of Industry and Trade (MoIT) reported.

PM attends ground-breaking ceremony for Hon Thom marine entertainment complex

Prime Minister Pham Minh Chinh attended the ground-breaking ceremony for the Hon Thom marine tourism, resort and entertainment complex in Phu Quoc city, the Mekong Delta province of Kien Giang on March 30.

The 310-hectare complex will be built with total investment of some 50 trillion VND by Sun Group, featuring a water park, a theme park, an aquarium, an opera house, and an ecological resort. It will be developed into a tropical paradise with various kinds of tropical trees to be planted.

Speaking at the ceremony, PM Chinh hailed Phu Quoc’s robust development in the past years, asking the province to pen suitable policies to mobilise resources to ensure the island’s sustainable development, social security and security-defence.

He recognised Sun Group’s contributions to making tourism an economic spearhead of the island, and expressed his hope that the group will continue its efforts and develop its projects in line with the Party’s policies and State’s regulations, giving a helping hand to assure social welfare and branch out the country’s cultural industry./.

Ba Ria – Vung Tau licenses 15 investment projects valued at VND60 billion

The southern province of Ba Ria-Vung Tau has granted investment licenses to 15 projects with total capitalisation of VND60 trillion.

The licensed projects, including 5 foreign investment projects, focus on the fields of chemicals, industry, electronics, pharmaceuticals, urban areas, industry, and tourism, among others.

The investment licenses were granted at a ceremony held by the provincial administration on March 30 to announce its development planning for 2025-2030 with a vision to 2050 recently approved by the Prime Minister.

The announcement of the provincial development planning gives Ba Ria-Vung Tau the chance to create development models and remove bottlenecks, said Pham Viet Thanh, secretary of the provincial Party Committee.

According to the official, with intensive investment allocated, the Southeastern region in general and Ba Ria – Vung Tau in particular will fully meet the conditions for developing industries, seaports, logistics, tourism, urban areas, and high quality services.

The province is ready to listen to, and take the success of businesses and investors as a measure of the local government’s performance, stressed Thanh.

Speaking at the ceremony, Deputy Prime Minister Tran Hong Ha proposed that Ba Ria - Vung Tau maintain its leading position in green transformation, create new breakthroughs, and develop a roadmap for greening economic sectors.

Located in the southern key economic region, Ba Ria-Vung Tau is one of the localities that contribute greatly to national GDP and state budget revenue.

Last year saw the local economy grow by 5.75%, with average income per capita reaching US$8,078, nearly double the national average.

Under the recently approved planning, by 2050, Ba Ria - Vung Tau will be developed into a marine economic center of Vietnam and a maritime service center of Southeast Asia.

Most petrol stations issue electronic invoices for each sale

Most petrol stations nationwide are ready to issue electronic invoices for each sale, Mai Sơn, deputy director of the General Department of Taxation, said at the Ministry of Finance's press conference for the first quarter held in Hà Nội on Friday.

As of March 28, 15,762 petrol stations issue electronic invoices for each sale, or 98.9 per cent of the total number of petrol stations across the country. About 1.1 per cent of them have not yet had electronic invoices.

About 59 out of 63 cities and provinces nationwide have implemented over 90 per cent of the progress issuing electronic invoices, of which 40 localities are completing this issuance progress. 

Previously, implementing the Prime Minister's direction, the Ministry of Finance directed tax authorities at all levels to implement solutions to issue electronic invoices for each sale at all petrol stations.

At the same time, the ministry has also issued an official dispatch to relevant ministries and branches, and localities requesting them to proactively coordinate closely and regularly with tax authorities in actively deploying synchronous and effective solutions to promote businesses and petrol stations to issue electronic invoices.

The General Department of Taxation has also issued eight official dispatches directing the localities' taxation departments to strengthen management, inspection, supervision of deploying electronic invoice issuance for petrol retail activities.

Sơn said the taxation general department has requested the localities' authorities to direct local agencies and departments to proactively coordinate closely with the general department to firmly deploy synchronous and effective solutions on promoting the issuance of electronic invoices. 

They have included diverse propaganda measures on legal regulations of the electronic invoices and benefits of issuing electronic invoices for each sale at petrol stations and penalties for violations in issuing the invoice during selling goods.

In addition, it has organised meetings with petroleum traders, petrol stations and solution providers to discuss effective solutions on implementing the issuance of electronic invoices for the businesses, and also meeting the State management requirements on petroleum trading.

The general department has established interdisciplinary working groups to work directly with petrol stations, and then developed suitable implementation plans for each area, enterprise and petrol station.

At the Government meeting in February, the Prime Minister assigned ministries, branches and localities to strengthen inspections and implement management and use of electronic invoices for petroleum business and retail activities in March.

The Prime Minister also assigned localities to coordinate with the Ministry of Finance and the Ministry of Industry and Trade to ensure appropriate measures are taken against businesses that do not implement the regulations by the end of this month.

They might be requested to temporarily suspend business operations or see business licenses and certificates revoked according to the provisions of law.

Few organisations in Việt Nam prepared to defend against evolving threat landscape

Only six per cent of organisations in Việt Nam have the ‘Mature’ level of readiness needed to be resilient against modern cybersecurity risks, according to Cisco’s 2024 Cybersecurity Readiness Index.

The 2024 Cisco Cybersecurity Readiness Index was developed in an era defined by hyperconnectivity and a rapidly evolving threat landscape. Companies today continue to be targeted with a variety of techniques that range from phishing and ransomware to supply chain and social engineering attacks. And while they are building defences against these attacks, they still struggle to defend against them, slowed down by their own overly complex security postures that are dominated by multiple point solutions.

These challenges are compounded in today’s distributed working environments where data can be spread across limitless services, devices, applications and users. However, 71 per cent of companies still feel moderately to very confident in their ability to defend against a cyberattack with their current infrastructure - this disparity between confidence and readiness suggests that companies may have misplaced confidence in their ability to navigate the threat landscape and may not be properly assessing the true scale of the challenges they face.

The index assesses the readiness of companies on five key pillars including identity intelligence, network resilience, machine trustworthiness, cloud reinforcement and AI fortification, which are comprised of 31 corresponding solutions and capabilities. It is based on a double-blind survey of more than 8,000 private sector security and business leaders across 30 global markets conducted by an independent third party. The respondents were asked to indicate which of these solutions and capabilities they had deployed and the stage of deployment. Companies were then classified into four stages of increasing readiness: beginner, formative, progressive and mature.

“We cannot underestimate the threat posed by our own overconfidence,” said Jeetu Patel, Executive Vice President and General Manager of Security and Collaboration at Cisco.

“Today's organisations need to prioritise investments in integrated platforms and lean into AI in order to operate at machine scale and finally tip the scales in the favour of defenders.”

“The threat landscape today is more complicated than ever and organisations globally, including those in Việt Nam, continue to lag in their cyber resilience. Companies need to adopt a platform approach that will provide a simple, secure, single-pane-of-glass view into their entire architecture to strengthen their security posture and best take advantage of the opportunities that come with emerging technologies," said Tay Bee Kheng, President, Cisco ASEAN.

To overcome the challenges of today’s threat landscape, companies must accelerate meaningful investments in security, including adoption of innovative security measures and a security platform approach, strengthen their network resilience, establish meaningful use of generative AI, and ramp up recruitment to bridge the cybersecurity skills gap. 

Việt Nam, Canada to collaborate for transition to net-zero emissions economy

Canada’s commitment to support Việt Nam’s clean energy transition and goals to achieve net-zero, and its willingness to share its expertise and experiences underscore the depth of collaboration between the two countries, visiting Minister of Export Promotion, International Trade, and Economic Development Mary Ng told a workshop in HCM City that ended on Friday.

In her opening remarks at “Towards Net-zero: Canada-Việt Nam Experiences Sharing,” she said: “Canada and Việt are both committed to combating climate change and transitioning to a net-zero carbon emissions economy.

“Canada has the expertise to help Việt Nam reach its net-zero 2050 targets. From energy storage to biofuel to other greenhouse management solutions, we have the right people who can provide these solutions.

“We want to be your partner of choice in helping you to power a clean and green future.”

Canada was among the countries that helped establish the Just Energy Transition Partnership (JETP) with Việt Nam in 2022, she said.

The JETP and the Emissions Trading Scheme, which establishes carbon pricing, are expected go a long way to driving investment in clean and green technologies, she said.

What that means is opportunities for even deeper collaboration between the two countries, which would help Việt Nam deliver on its climate commitments, she said.

“I’m looking forward to furthering discussions we started last August at the Canada-Việt Nam Clean Energy Partnership Forum.

“And to having Canadian cleantech experts share not only their experience but also the instruments – the regulations, policies and technologies – they used to reduce emissions across Canada’s economy.”

Deputy Minister of Natural Resources and Environment Lê Công Thành said Việt Nam’s national strategy on climate change outlines measures to reduce greenhouse gas emissions by 2050.

It has stepped up technological innovations to increase energy use efficiency, cut production costs, increase competitiveness, and reduce carbon emissions, he said.

Various Government agencies have researched and exploited new and clean renewable energy sources such as solar, wind, hydropower, biomass, and green hydrogen, he said.

In December 2022 Việt Nam agreed to the JETP with the International Partners Group comprising Canada, Denmark, the EU, France, Germany, Italy, Japan, Norway, the UK and the US.

The countries committed support for Việt Nam’s clean energy transition and net-zero goal.

Việt Nam seeks cooperation with Canada in its transition to clean and renewable energies and efforts to improve social and economic adaptability and resilience, he added.

The two-day workshop was organised by the Canadian embassy in Hà Nội and consulate general in HCM City and the Ministry of Natural Resources and Environment on the sidelines of the Team Canada Trade Mission to Việt Nam led by Ng.

It was attended by hundreds of participants from ministries, provincial governments, research institutions, and commercial entities from Canada and Việt Nam and other stakeholders. 

Việt Nam's first exhibition for smart office solutions to open in Hà Nội in May

The International Exhibition for Smart Office Solutions, Office Equipment and Stationery in Việt Nam (VietOffice 2024) will be held for the first time. The exhibition marks an important step forward in connecting the business community with new and modern working environments.

VietOffice 2024, held by the Việt Nam National Trade Fair and Advertising Company (Vinexad) and Việt Nam Office Machinery Association (VOMA), will take place from May 22 to 24, 2024 at Hà Nội International Exhibition Center (ICE) at 91 Trần Hưng Đạo Street, Hoàn Kiếm District, Hà Nội.

As a platform to connect businesses in the industry, the exhibition is expected to open up opportunities to promote co-operation, build relationships and expand global business networks.

The exhibition will offer a diverse and creative exhibition space with various product lines, such as office machinery, office furniture; smart office solutions; office accessories and decorations, and stationery.

Infrastructure development in Việt Nam has raised the prospects for many businesses building offices in the country, along with the increasing number of schools, commercial buildings, and small and medium enterprises. Therefore, the Vietnamese office equipment and stationery market is witnessing significant growth.

According to research from BlueWeave Consulting, Việt Nam's stationery and office equipment market will reach a value of US$487.1 million in 2022 and is expected to continue growing to reach $512.4 million in 2027. Many new and high-tech office products have been developed and promoted. 

Breakthrough policies needed to ensure sustainable development: advisory council

Experts gave forecasts on impacts of the global economy on Vietnam and exchanged views on how to manage the macro economy and the domestic gold market at a meeting of the National Financial and Monetary Policy Advisory Council on March 28.

They held that the monetary and fiscal policies employed over the past time have helped achieve set objectives and enabled the national economy to withstand shocks that seemed to be insurmountable.

The economy, however, is expected to face quite a few difficulties in the time ahead, which calls for breakthrough policies, especially those that would fully tap resources, boost consumption and private investment, and manage the gold market, to ensure stable development, the experts noted.

Economist Le Xuan Nghia pointed to the weak recovery of the economy, especially demand, and the strong reduction in investment by the private sector. He suggested budget incentives for businesses and the utilisation of fiscal policies to serve economic recovery in the time ahead.

The participating experts also voiced approval for the proposal to abolish the State monopoly on gold bars, and grant licences to businesses eligible for the production.

Deputy Governor of the State Bank of Vietnam (SBV) Pham Thanh Ha briefed the participants on the central bank’s efforts to manage monetary policies and banking operations, saying it is implementing credit programmes and policies for prioritised fields and driving forces, such as the VND12 trillion (US$484.21 million) credit package.

He underlined the problems facing the economy, particularly unfavourable developments and unpredictable prospects of the world economy, rising bad debts and low mobilisation of middle- and long-term capital of credit organisations.  

Deputy Prime Minister Le Minh Khai, who is also chairman of the council, pointed to challenges like the pressure of the US dollar appreciation trend on Vietnam’s foreign exchange market, and weak capital absorption by businesses and people, along with difficulties in the real estate market.

Against the backdrop, he suggested prioritising the use of fiscal policies, spurring public investment, supporting trade promotion, and expanding the market, with the support of monetary policies.

Consumer price index inches up by 3.77% in first quarter

The consumer price index (CPI) rose 3.77% in the first quarter of 2024 compared to the same period last year, with core inflation standing at 2.81%, reported the General Statistics Office (GSO).
 
March alone saw CPI fall slightly by 0.23% month on month. Seven of the 11 categories of main consumer goods and services witnessed monthly price declines, while four experienced higher prices.

The GSO cited a number of major factors behind the increase, including the rising price of housing and construction materials at 0.29%, which fueled the CPI up by 0.05%.

The statistics office also clarified a number of major reasons behind the decrease, including a 1.19% monthly drop in the price of food and foodstuff due to low demand after the Lunar New Year festival, while the supply of goods remained abundant.

In the basket of goods and services that make up the CPI, prices rose in rice at 21.71%, electricity at 9.38%, water at 10.58%, education at 9.02%, and medicine and medical services at 6.51%.

To cope with surging inflationary pressure, the Government has ordered ministries, sectors, and localities to introduce viable policies and bold measures to minimise the adverse impact on socio-economic development.

Industrial production expands over 6% year on year in Q1: MoIT

Industrial production continued to thrive in the first quarter with the entire sector’s added value rising 6.18% year on year, the Ministry of Industry and Trade (MoIT) reported.

The increase contributed 2.02 percentage points to the growth of the economy’s added value, the MoIT told its regular press conference in Hanoi on March 29.

In particular, processing and manufacturing served as a major driver of economic growth, climbing up 6.98% and contributing 1.73 percentage points. Electricity production and distribution rose 11.97% and contributed 0.45 percentage point. Water supply along with waste and wastewater management and treatment grew 4.99% and contributed 0.03 percentage point.

However, the mining industry contracted 5.84%, with the coal exploitation volume down 0.3% and crude oil down 3.2%, reducing the general growth by 0.2% percentage point, statistics show.

The index of industrial production (IIP) went up in 54 of the 63 provinces and centrally-run cities during the period. Some localities recorded a double- or three-digit IIP growth rate thanks to surges in processing - manufacturing or electricity production and distribution, the MoIT noted.

Meanwhile, total revenue of goods retail and consumer services in Q1 was estimated at nearly 1.54 quadrillion VND (61.5 billion USD), up 8.2% from a year earlier. The sum includes 1.19 quadrillion VND of goods retail revenue, accounting for 77.4% of the total and increasing by 7% (by 4.5% if price hikes are excluded).

MoIT Deputy Minister Nguyen Sinh Nhat Tan attributed those results to the Government’s support measures and the Prime Minister’s strong directions for promoting public investment disbursement and key industrial projects, together with FDI attraction and disbursement effects that have also helped improve domestic production capacity.

He also mentioned the global market recovery as seen in the rebound of export orders and efforts to diversify markets, the upgrade of Vietnam’s relations with large trading partners that has enhanced investors’ trust, and domestic businesses’ better capacity.

The official viewed the signs of economic recovery during the first three months as a driver of domestic consumption./.

Lado Taxi signs MoU to buy, lease 2,500 VinFast electric cars

Dong Thuy Co. Ltd, which owns Lado Taxi, on March 29 signed a memorandum of understanding (MoU) to purchase and rent an additional 2,500 VinFast electric cars from Green and Smart Moving JSC (GSM) within three years.

Under the MoU, the GSM, a subsidiary of Vietnamese private conglomerate Vingroup, will hand over 500 vehicles this year, raising the number of Lado’s electric taxi fleet to nearly 1,000. They are expected to operate in Lam Dong, Binh Dinh, Binh Thuan and Dong Nai provinces. The remaining 2,000 vehicles will be delivered in 2025 and 2026.

It is part of Lado Taxi’s long-term strategy on green transition, aiming to replace the current petrol–powered fleet with electric vehicles.

Operating electric cars from 2022, Lado now has a fleet of nearly 400 vehicles.

Besides Lado, nearly 30 businesses have purchased and rented VinFast electric vehicles from GSM to provide transportation services./.

Vietnam Airlines, CAE extend cooperation on use of simulators cockpits

The national flag carrier Vietnam Airlines has signed an agreement on the exploitation of simulators cockpits (SIM) with Canadian Aviation Electronics (CAE), one of the world’s leading flight training equipment and service provider.

The signing ceremony was held within the framework of a working visit to Vietnam by Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng from March 26 to 29.

The two sides agreed to extend cooperation in operating Airbus A350 and Boeing 787 SIMs until the end of 2033, thus meeting the demand of SIM training for pilots of the carrier.

SIM training in Vietnam not only helps the carrier increase safety and flexibility but also saves time as well as optimises costs to improve business efficiency in the post-pandemic recovery.

Previously, in the 2017-2018 period, Vietnam Airlines received three modern SIM units, which are suitable with technical features of aircraft types that the carrier is operating, including Airbus A321, Airbus A350 and Boeing 787, from CAE.

The reception of modern technology transfer related to operation and maintenance of SIM systems for large aircraft types such as Airbus A350 and Boeing 787 has helped the carrier take the lead in technology application, building the most modern flight training centre in Vietnam, thereby developing sustainable and stable pilot training resources./.

GDP grows 5.66% in Q1

Vietnam's economy grew 5.66% in the first quarter compared to the same period last year, the highest for the first quarter since 2020, the General Statistics Office (GSO) announced at a press conference in Hanoi on March 29.

According to the GSO, the agro-forestry-fishery, industry-construction, service sectors expanded by 2.98%, 6.28%, 6.12%, contributing 6.09%, 41.68%, and 52.23% to the total Q1 GDP growth, respectively.

In her remarks, GSO General Director Nguyen Thi Huong lauded the positive gain amidst global economic instabilities, which reflects the effectiveness of management policies of the Government, ministries, sectors, and localities.

She also noted bustling trade activities, a strong tourism recovery, and high increases in export turnovers of key products.

Regarding the structure of the economy in the quarter, the agro-forestry-fishery made up 11.77%, industry-construction 35.73%, and service 43.48%.

On the utilisation of GDP, final consumption and asset accumulation increased by 4.93% and 4.69% year-on-year, contributing 56.77% and 24.07% to the overall growth rate, respectively. The export of goods and services grew by 18%, while imports rose by 17.08%, resulting in a trade surplus contribution of 19.16%./.

Vietnam advised to fully tap CPTPP to boost exports to Canada

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has opened up numerous opportunities for Vietnam and Canada to boost two-way trade, however, tax initiatives under the trade pact have not been tapped to the fullest extent by the Vietnamese exporters, said Vietnamese Trade Counsellor in Canada Tran Thu Quynh.

Attending a seminar in Ho Chi Minh City on March 28, Quynh stressed two-way trade has increased to 10 billion USD from only 2.5 billion USD in 2013.

Vietnam shipped more than 9 billion USD worth of products to Canada but only 18% of which used certificates of origin (C/O) under the CPTPP to enjoy preferential tariffs while more than 90% used C/O most-favoured nation (MFN) tariff and general preferential tariff (GPT) which will be invalid in December 2024.

Around 4 billion USD worth Vietnamese exports to Canada did not capitalise on the CPTPP, which means Vietnamese goods are more expansive than their rivals in the market, Quynh said, stressing enterprises should pay attention to taking advantage of the trade agreement and working to meet the requirements on the rule of origin to improve the competitive edge for the Vietnamese products, thus increasing export revenue in the Northern American market.

Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng said since the CPTPP took effect, trade turnover between Vietnam and Canada surged by 170%, making the bilateral trade cooperation a “bright star” in the CPTPP bloc.

According to Mary Ng, Vietnam is Canada’s largest trading partner in the Association of Southeast Asian Nations (ASEAN) and Canada wants to expand this successful cooperation model in the region. Vietnam is an important gateway for Canada to develop its relations with other ASEAN member states and the whole Asia.

Deputy Director of the HCM City Customs Department Nguyen Huu Nghiep said the department has worked to facilitate trade for the business community, expressing his hope that the department and the Canada Border Services Agency will meet and discuss measures to remove bottlenecks and create confidence among import-export enterprises amidst radical changes in international trade./.

Revised Land Law helps boost Việt Nam’s investment appeal

The revised Land Law, which was passed by the Vietnamese National Assembly in January 2024, is expected to attract capital from overseas Vietnamese (OV), said Chairman of the Vietnamese Business Association in Australia (VBAA) Trần Bá Phúc.

Talking to the Vietnam News Agency’s resident correspondents in Australia, Phúc hailed the amended law for providing greater assurance for OVs by explicitly guaranteeing their rights. This serves as a motivation to encourage them to return to the home country and invest more boldly.

Phúc, who is also Vice Chairman of the Business Association of Overseas Vietnamese (BAOOV), said that the law has been revised towards greater transparency and more beneficial to OVs.

It is a step in the right direction he said, adding that it is relevant to the current situation of the country as well as the Vietnamese community abroad, aim to stimulate economic breakthroughs and create favourable conditions for domestic enterprises and OVs.

Phúc viewed these changes as a reflection of the Vietnamese Government's open policy in attracting capital and resources from abroad, as well as fostering connections between OVs and the homeland.

Many OVs want to contribute to the development of the homeland through remittances and reinvestment. Real estate offers a particularly attractive avenue for them to do so.

The revision also underscores the Vietnamese Party and State’s consistent policy of considering OVs an inseparable part of the nation, he stressed.

Phúc suggested that the Vietnamese Government should intensify the dissemination of information about the revised Land Law and show its earnest and active implementation of the law in line with the outlined spirit to instil motivation and confidence among residents as well as the Vietnamese community and foreign businesses abroad who will prepare plans and encourage their involvement.

He predicted that the real estate market in Việt Nam will recover positively, becoming more vibrant in the coming years, thereby bringing benefits to the people and domestic businesses as well as OVs who are living and working in countries and territories around the world. 

China’s BYD to construct EV factory in Vietnam

BYD, China’s electric vehicle (EV) manufacturer, will build an EV manufacturing facility covering 100 hectares in the northern province of Phu Tho.

Luong Thanh Tung, vice chairman of Gelex, said during the company’s annual meeting today, March 28, that BYD intends to construct the factory in Phu Ha Industrial Zone, Phu Tho Province, which is developed by Viglacera, an affiliate of Gelex.

During a meeting with Deputy Prime Minister Tran Hong Ha in May 2023, Wang Chuanfu, chairman of BYD, expressed interest in investing in an EV manufacturing plant in Vietnam.

BYD has already got involved in a US$269 million project in Phu Ha Industrial Park to establish a tablet manufacturing plant. Last year, it augmented the project’s investment capital by nearly US$184 million to facilitate the production of electronic parts.

The top EV manufacturer in China is currently constructing its first overseas factory in Thailand and is considering expanding its EV factory network to include the Philippines, Indonesia, in addition to Vietnam.

Ban proposed for heavy-duty trucks on Cam Lo-La Son Expressway

A consulting firm has proposed banning trucks of over 30 tons and coaches of more than 30 seats from the Cam Lo-La Son Expressway in the wake of deadly accidents on this two-lane road.

Heavy-duty trucks often travel at a slower speed than the allowed 80 kilometers per hour on this expressway, forcing cars and big interprovincial buses to overtake slow moving trucks, even on sections where they are prohibited from doing so, and thus causing danger to others and themselves.

If the proposal is approved, nearly 3,500 vehicles would be diverted to National Highway 1A a day.

Truong Son Consulting Joint Stock Company presented the proposal at a meeting on traffic rearrangement for the expressway, organized by the Department for Roads of Vietnam on February 27.

The suggestion is based on the traffic volume on the expressway and National Highway 1A in Quang Tri Province, which runs parallel to the expressway, observed from March 15 to 17.

An estimated 10,000 vehicles use the Cam Lo-La Son expressway a day, with trucks accounting for nearly half. With two lanes and no concrete median, the expressway can accommodate 9,000 to 11,000 vehicles per day.

Meanwhile, over 26,000 vehicles travel on National Highway 1A a day, but heavy-duty trucks make up only 37%. With a capacity of accommodating 31,000-33,500 vehicles per day, National Highway 1A has enough room for about 6,000 more vehicles.

Relevant authorities, including the consulting company, highlighted the feasibility of diverting vehicles to National Highway 1A.

At the meeting, the Department for Roads of Vietnam, which is under the Ministry of Transport, threw its support behind the proposal to ban big vehicles on the Cam Lo – La Son Expressway. However, more feedback will be needed from relevant agencies before reorganizing traffic on the expressway.

The Cam Lo-La Son Expressway has a total length of nearly 100 kilometers and connects Quang Tri and Thua-Thien Hue provinces.

In the initial investment phase, it has only two lanes and will be widened in the subsequent phases. Overtaking is not uncommon on the expressway, making it dangerous to travel on it. Since it was opened to traffic in late 2022, a dozen accidents have happened, with five people killed.

German businesses step up investment into HCMC

Many German firms are seeking investment opportunities towards sustainable development, green policies and net-zero carbon emission in Vietnam.
This statement was released by Mr. Alexander Ziehe, the chairman of the German Business Association at the Germany – Vietnam Business Forum, themed “Collaborative pathways to green growth in Ho Chi Minh City” which was organized by the Investment and Trade Promotion Center (ITPC) in Ho Chi Minh City on March 28.

Green growth is likely to open up new opportunities for the economy and enterprises in Vietnam through promoting low-carbon goods and services investments, exploring new markets and supporting partners for green initiatives.

German businesses have had advantages of technology, green finance and experiences in green economic development so investment growth in green development will be a significant opportunity.

Attending and speaking at the Germany – Vietnam Business Forum, Deputy Director of ITPC Cao Thi Phi Van said that in order to keep up with the new investment trends of FDI enterprises, Ho Chi Minh City is focusing on attracting investment in high-tech industries, chips, semiconductors, digital economy, green economy and so on.

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes